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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Net revenues $ 6,206.7 $ 5,617.9 $ 5,372.6
Operating expenses      
Compensation and related costs 2,182.4 1,969.2 1,808.6
Distribution and servicing costs 278.5 262.5 281.2
Advertising and promotion 83.7 96.8 99.6
Product-related costs 155.5 153.2 157.1
Technology, occupancy, and facility costs 444.8 427.3 383.9
General, administrative, and other 316.1 321.9 296.0
Nonrecurring recoveries related to Dell appraisal rights matter 0.0 0.0 (15.2)
Total operating expenses 3,461.0 3,230.9 3,011.2
Net operating income 2,745.7 2,387.0 2,361.4
Non-operating income      
Net gains on investments 246.8 260.4 119.2
Net gains (losses) on consolidated investment products 251.7 272.9 (92.9)
Other income (loss) (2.0) 7.0 (3.1)
Total non-operating income 496.5 540.3 23.2
Income before income taxes 3,242.2 2,927.3 2,384.6
Provision for income taxes 718.9 678.4 615.9
Net income 2,523.3 2,248.9 1,768.7
Less: net income (loss) attributable to redeemable non-controlling interests 150.6 117.6 (68.8)
Net income attributable to T. Rowe Price Group $ 2,372.7 $ 2,131.3 $ 1,837.5
Earnings per share on common stock of T. Rowe Price Group      
Basic (in dollars per share) $ 10.08 $ 8.82 $ 7.41
Diluted (in dollars per share) $ 9.98 $ 8.70 $ 7.27
Investment advisory fees      
Revenues      
Net revenues $ 5,693.1 $ 5,112.5 $ 4,850.6
Administrative, distribution, and servicing fees      
Revenues      
Net revenues $ 513.6 $ 505.4 $ 522.0