CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net income	$ 2,248.9	$ 1,768.7	$ 1,581.2
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, amortization and impairment of property and equipment	190.8	159.5	143.6
Stock-based compensation expense	206.6	197.1	152.0
Realized gains on dispositions of available-for-sale T. Rowe Price investment products			(83.1)
Gains recognized upon transfer of an investment in a T. Rowe Price mutual fund from available-for-sale to held as trading			(23.6)
Net gains recognized on other investments	(176.3)	(50.5)	(49.7)
Net investments in T. Rowe Price investment products used to economically hedge supplemental savings plan liability	(126.0)	(129.5)	(218.6)
Net change in securities held by consolidated T. Rowe Price investment products	(930.9)	(437.0)	(1,492.9)
Other changes in assets and liabilities	109.6	111.6	220.6
Net cash provided by operating activities	1,522.7	1,619.9	229.5
Cash flows from investing activities
Purchases of T. Rowe Price investment products	(239.7)	(1,124.0)	(39.9)
Dispositions of T. Rowe Price investment products	131.4	352.4	336.6
Net cash of T. Rowe Price investment products on consolidation (deconsolidation)	(18.4)	(23.8)	(64.2)
Additions to property and equipment	(204.6)	(168.5)	(186.1)
Other investing activity	6.8	88.4	(7.4)
Net cash provided by (used in) investing activities	(324.5)	(875.5)	39.0
Cash flows from financing activities
Repurchases of common stock	(705.8)	(1,090.4)	(458.1)
Common share issuances under stock-based compensation plans	83.3	74.8	201.1
Dividends paid to common stock and equity-award holders	(733.9)	(694.3)	(563.1)
Net subscriptions received from redeemable non-controlling interest holders	523.7	470.4	1,281.6
Net cash provided by (used in) financing activities	(832.7)	(1,239.5)	461.5
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	(2.5)	(15.4)	5.3
Net change in cash and cash equivalents during period	363.0	(510.5)	735.3
Cash and cash equivalents at beginning of year	1,495.3	2,005.8	1,270.5
Cash and cash equivalents at end of year	$ 1,858.3	$ 1,495.3	$ 2,005.8

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Increase (Decrease) in Trading Securities, Consolidated Sponsored Investment Portfolios

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