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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 3,098.5 $ 2,523.3 $ 2,248.9
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation, amortization and impairment of property, equipment and software 204.8 189.6 190.8
Stock-based compensation expense 274.6 246.2 206.6
Net gains recognized on other investments (122.5) (189.6) (176.3)
Net investments in T. Rowe Price investment products used to economically hedge supplemental savings plan liability (85.7) (142.9) (126.0)
Net change in securities held by consolidated T. Rowe Price investment products 14.9 (798.8) (930.9)
Other changes in assets and liabilities 67.4 91.1 109.6
Net cash provided by operating activities 3,452.0 1,918.9 1,522.7
Cash flows from investing activities      
Purchases of T. Rowe Price investment products (48.0) (272.4) (239.7)
Dispositions of T. Rowe Price investment products 1,625.8 454.1 131.4
Net cash of T. Rowe Price investment products on consolidation (deconsolidation) (16.9) (53.9) (18.4)
Additions to property and equipment (239.1) (214.6) (204.6)
Acquisition, net of cash acquired (2,450.8) 0.0 0.0
Other investing activity 30.9 50.5 6.8
Net cash used in investing activities (1,098.1) (36.3) (324.5)
Cash flows from financing activities      
Repurchases of common stock (1,138.5) (1,201.9) (705.8)
Common share issuances under stock-based compensation plans (81.6) 3.9 83.3
Dividends paid to common stock and equity-award holders (1,701.9) (845.8) (733.9)
Net subscriptions (redemptions) from redeemable non-controlling interest holders (66.8) 557.5 523.7
Net cash used in financing activities (2,988.8) (1,486.3) (832.7)
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products 2.6 1.9 (2.5)
Net change in cash and cash equivalents during period (632.3) 398.2 363.0
Cash and cash equivalents at beginning of year 2,256.5 1,858.3 1,495.3
Cash and cash equivalents at end of year $ 1,624.2 $ 2,256.5 $ 1,858.3