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CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS (Tables)
 9 Months Ended
Sep. 30, 2021
Consolidated Sponsored Investment Portfolios [Abstract]  
Net assets of consolidated sponsored investment portfolios
The following table details the net assets of the consolidated T. Rowe Price investment products:
9/30/202112/31/2020
(in millions)
Voting
interest entities
Variable interest entities
Total
Voting
interest entities
Variable interest entities
Total
Cash and cash equivalents(1)
$6.2 $85.4 $91.6 $7.1 $97.7 $104.8 
Investments(2)
178.5 1,634.7 1,813.2 188.2 2,372.7 2,560.9 
Other assets4.9 117.0 121.9 2.8 27.0 29.8 
Total assets189.6 1,837.1 2,026.7 198.1 2,497.4 2,695.5 
Liabilities29.8 62.3 92.1 10.0 47.7 57.7 
Net assets$159.8 $1,774.8 $1,934.6 $188.1 $2,449.7 $2,637.8 
Attributable to T. Rowe Price$126.4 $721.6 $848.0 $130.7 $945.4 $1,076.1 
Attributable to redeemable non-controlling interests33.4 1,053.2 1,086.6 57.4 1,504.3 1,561.7 
$159.8 $1,774.8 $1,934.6 $188.1 $2,449.7 $2,637.8 
(1) Cash and cash equivalents includes $6.0 million at September 30, 2021, and $7.0 million at December 31, 2020, of T. Rowe Price money market mutual funds.
(2) Investments include $44.5 million at September 30, 2021, and $26.9 million at December 31, 2020 of other T. Rowe Price investment products.
Operating results of consolidated sponsored investment portfolios
The operating results of the consolidated T. Rowe Price investment products for the three- and nine-months ended September 30, 2021 and 2020, are reflected in our unaudited condensed consolidated statements of income as follows:
Three months ended
9/30/20219/30/2020
(in millions)
Voting interest entitiesVariable interest entitiesTotalVoting interest entitiesVariable interest entitiesTotal
Operating expenses reflected in net operating income$(.1)$(2.7)$(2.8)$(.7)$(3.7)$(4.4)
Net investment income (loss) reflected in non-operating income (loss).7 (17.8)(17.1)13.1 88.1 101.2 
Impact on income before taxes$.6 $(20.5)$(19.9)$12.4 $84.4 $96.8 
Net income (loss) attributable to T. Rowe Price$.5 $(.6)$(.1)$7.0 $34.4 $41.4 
Net income (loss) attributable to redeemable non-controlling interests.1 (19.9)(19.8)5.4 50.0 55.4 
$.6 $(20.5)$(19.9)$12.4 $84.4 $96.8 

Nine months ended
9/30/20219/30/2020
(in millions)Voting
interest entities		Variable interest entitiesTotalVoting
interest entities		Variable interest entitiesTotal
Operating expenses reflected in net operating income$(.4)$(8.7)$(9.1)$(1.2)$(10.5)$(11.7)
Net investment income (loss) reflected in non-operating income14.1 61.5 75.6 (5.7)19.0 13.3 
Impact on income before taxes$13.7 $52.8 $66.5 $(6.9)$8.5 $1.6 
Net income (loss) attributable to T. Rowe Price$8.8 $35.1 $43.9 $(2.7)$(.1)$(2.8)
Net income (loss) attributable to redeemable non-controlling interests4.9 17.7 22.6 (4.2)8.6 4.4 
$13.7 $52.8 $66.5 $(6.9)$8.5 $1.6 
Cash flows of consolidated sponsored investment portfolios
The table below details the impact of these consolidated investment products on the individual lines of our unaudited condensed consolidated statements of cash flows for the nine months ended September 30, 2021 and 2020.
Nine months ended
9/30/20219/30/2020
(in millions)
Voting
interest entities
Variable interest entities
Total
Voting
interest entities
Variable interest entities
Total
Net cash provided by (used in) operating activities$(109.1)$127.7 $18.6 $(105.7)$(241.0)$(346.7)
Net cash used in investing activities(11.9)(3.7)(15.6)(23.4)(25.7)(49.1)
Net cash provided by (used in) financing activities120.1 (132.7)(12.6)124.4 269.5 393.9 
Effect of exchange rate changes on cash and cash equivalents of consolidated
T. Rowe Price investment products
— (3.6)(3.6)— 3.4 3.4 
Net change in cash and cash equivalents during period
(.9)(12.3)(13.2)(4.7)6.2 1.5 
Cash and cash equivalents at beginning of year
7.1 97.7 104.8 9.9 66.6 76.5 
Cash and cash equivalents at end of period
$6.2 $85.4 $91.6 $5.2 $72.8 $78.0 
Fair values of investments held by consolidated sponsored investment portfolios The following table summarizes the investment holdings held by our consolidated T. Rowe Price investment products using fair value measurements determined based on the differing levels of inputs.
9/30/202112/31/2020
(in millions)
Level 1
Level 2
Level 1
Level 2
Assets
  Cash equivalents$6.0 $— $7.0 $— 
Equity securities278.9 239.7 308.0 708.0 
Fixed income securities— 1,231.1 — 1,411.3 
Other investments8.8 54.7 2.6 131.0 
$293.7 $1,525.5 $317.6 $2,250.3 
Liabilities$(.3)$(10.8)$(.4)$(18.8)