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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 1,607.5 $ 895.1
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization of property and equipment 99.4 94.3
Stock-based compensation expense 113.9 111.6
Net (gains) losses recognized on investments (140.9) 3.4
Net (investments) redemptions in T. Rowe Price investment products used to economically hedge supplemental savings plan liability 21.9 (10.0)
Net change in securities held by consolidated T. Rowe Price investment products (253.4) 40.8
Other changes in assets and liabilities 353.6 505.5
Net cash provided by operating activities 1,802.0 1,640.7
Cash flows from investing activities    
Purchases of T. Rowe Price investment products (30.6) (237.1)
Dispositions of T. Rowe Price investment products 190.7 347.9
Net cash of T. Rowe Price investment products on deconsolidation (44.2) (9.2)
Additions to property and equipment (121.8) (105.3)
Other investing activity 11.6 6.1
Net cash provided by investing activities 5.7 2.4
Cash flows from financing activities    
Repurchases of common stock (311.4) (1,027.1)
Common share issuances under stock-based compensation plans 24.7 54.0
Dividends paid to common stockholders of T. Rowe Price (505.1) (425.7)
Net subscriptions received from redeemable non-controlling interest holders 299.1 87.7
Net cash used in financing activities (492.7) (1,311.1)
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products (0.5) (7.4)
Net change in cash and cash equivalents during period 1,314.5 324.6
Cash and cash equivalents at beginning of period 2,256.5 1,858.3
Cash and cash equivalents at ending of period $ 3,571.0 $ 2,182.9