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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Net revenues $ 1,826.8 $ 1,462.6
Operating expenses    
Compensation and related costs 583.5 440.7
Distribution and servicing 85.6 65.7
Advertising and promotion 18.9 24.9
Product-related costs 41.0 41.6
Technology, occupancy, and facility costs 117.3 105.4
General, administrative, and other 87.3 77.1
Total operating expenses 933.6 755.4
Net operating income 893.2 707.2
Non-operating income (loss)    
Net gains (losses) on investments 68.6 (154.6)
Net gains (losses) on consolidated investment products 37.2 (330.3)
Other income (loss) (3.7) (15.4)
Total non-operating income (loss) 102.1 (500.3)
Income before income taxes 995.3 206.9
Provision for income taxes 230.5 40.3
Net income 764.8 166.6
Less: net income (loss) attributable to redeemable non-controlling interests 15.4 (176.5)
Net income attributable to T. Rowe Price Group $ 749.4 $ 343.1
Earnings per share on common stock of T. Rowe Price Group    
Basic (in dollars per share) $ 3.20 $ 1.43
Diluted (in dollars per share) $ 3.17 $ 1.41
Investment advisory fees    
Revenues    
Net revenues $ 1,687.8 $ 1,327.8
Administrative, distribution, and servicing fees    
Revenues    
Net revenues $ 139.0 $ 134.8