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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income $ 2,364.9 $ 1,593.7
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization of property and equipment 151.1 144.0
Stock-based compensation expense 166.3 164.5
Net gains recognized on investments (144.4) (75.3)
Net (investments) redemptions in T. Rowe Price investment products used to economically hedge supplemental savings plan liability 28.1 (19.1)
Net change in securities held by consolidated T. Rowe Price investment products (5.3) (350.8)
Other changes in assets and liabilities 530.0 459.9
Net cash provided by operating activities 3,090.7 1,916.9
Cash flows from investing activities    
Purchases of T. Rowe Price investment products (47.3) (240.3)
Dispositions of T. Rowe Price investment products 285.4 381.9
Net cash of T. Rowe Price investment products on deconsolidation (15.6) (49.1)
Additions to property and equipment (178.7) (155.4)
Other investing activity 13.8 9.8
Net cash provided by (used in) investing activities 57.6 (53.1)
Cash flows from financing activities    
Repurchases of common stock (493.1) (1,158.5)
Common share issuances under stock-based compensation plans 33.3 76.2
Dividends paid to common stockholders of T. Rowe Price (1,454.0) (635.7)
Net subscriptions received from redeemable non-controlling interest holders 22.7 298.7
Net cash used in financing activities (1,891.1) (1,419.3)
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products (3.6) 3.4
Net change in cash and cash equivalents during period 1,253.6 447.9
Cash and cash equivalents at beginning of period 2,256.5 1,858.3
Cash and cash equivalents at ending of period $ 3,510.1 $ 2,306.2