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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Net revenues $ 1,929.3 $ 1,415.4 $ 3,756.1 $ 2,878.0
Operating expenses        
Compensation and related costs 603.8 549.0 1,187.3 989.7
Distribution and servicing 92.7 62.0 178.3 127.7
Advertising and promotion 20.4 13.4 39.3 38.3
Product and recordkeeping related costs 43.3 39.6 84.3 81.2
Technology, occupancy, and facility costs 119.3 111.3 236.6 216.7
General, administrative, and other 91.7 86.4 179.0 163.5
Total operating expenses 971.2 861.7 1,904.8 1,617.1
Net operating income 958.1 553.7 1,851.3 1,260.9
Non-operating income (loss)        
Net gains on investments 87.7 170.6 156.3 16.0
Net gains (losses) on consolidated investment products 55.5 242.5 92.7 (87.8)
Other income (loss) 0.7 2.0 (3.0) (13.4)
Total non-operating income (loss) 143.9 415.1 246.0 (85.2)
Income before income taxes 1,102.0 968.8 2,097.3 1,175.7
Provision for income taxes 259.3 240.3 489.8 280.6
Net income 842.7 728.5 1,607.5 895.1
Less: net income (loss) attributable to redeemable non-controlling interests 27.0 125.5 42.4 (51.0)
Net income attributable to T. Rowe Price $ 815.7 $ 603.0 $ 1,565.1 $ 946.1
Earnings per share on common stock of T. Rowe Price        
Basic (in dollars per share) $ 3.50 $ 2.58 $ 6.70 $ 3.99
Diluted (in dollars per share) $ 3.46 $ 2.55 $ 6.63 $ 3.95
Investment advisory fees        
Revenues        
Net revenues $ 1,787.2 $ 1,293.8 $ 3,475.0 $ 2,621.6
Administrative, distribution, and servicing fees        
Revenues        
Net revenues $ 142.1 $ 121.6 $ 281.1 $ 256.4