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ACQUISITION (Tables)
 12 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Consideration Transferred See below for a summary of the total purchase consideration transferred at closing and the total purchase consideration allocated.
(in millions)

Cash consideration$2,487.4 
Contingent consideration306.3 
Equity consideration881.5 
Debt assumed113.5 
Non-controlling interests in consolidated entities248.7 
Total purchase consideration at closing4,037.4 
Less: cash payment treated as future compensation expense(1)
(283.2)
Total purchase consideration transferred$3,754.2 
(1) See discussion in Compensation Arrangement section below. The amount is included within “Other Assets” on our consolidated balance sheet.
Schedule of Assets Acquired and Liabilities Assumed The following table sets forth the preliminary fair values of the assets acquired and liabilities assumed in connection with the acquisition:
(in millions)Acquisition date fair value
Cash and cash equivalents$22.1 
Accounts receivable and accrued revenue122.2 
Investments891.0 
Property, equipment and software, net22.4 
Operating lease asset101.5 
Intangible assets913.4 
Goodwill2,027.5 
Other assets27.2 
Total assets4,127.3 
Accounts payable and accrued expenses$133.3 
Operating lease liability114.1 
Deferred tax liabilities, included in other assets in the consolidated balance sheet125.7 
Total liabilities assumed373.1 
Total purchase consideration$3,754.2 
Schedule of Pro Forma Information The following unaudited pro forma summary presents combined results of operations of T. Rowe Price Group, Inc. as if the OHA acquisition had occurred on January 1, 2020.
Pro forma years ended (unaudited)
(in millions)12/31/202112/31/2020
Revenue$8,162 $6,479 
Net income$3,016 $2,241