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FAIR VALUE MEASUREMENTS (Details) - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration liability $ 161.2 $ 306.3
Discretionary investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 254.2 518.7
Seed capital    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 199.1 264.8
Supplemental savings plan liability economic hedges    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 725.7 881.5
Level 1 | Fair value, measurements, recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents held in money market funds 1,692.9 1,183.9
Other investments 0.6 0.7
Investments in affiliated collateralized loan obligations 0.0 0.0
Total 2,842.3 2,826.2
Contingent consideration liability 0.0 0.0
Level 1 | Fair value, measurements, recurring | Discretionary investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 254.2 518.7
Level 1 | Fair value, measurements, recurring | Seed capital    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 168.9 241.4
Level 1 | Fair value, measurements, recurring | Supplemental savings plan liability economic hedges    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 725.7 881.5
Level 2 | Fair value, measurements, recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents held in money market funds 0.0 0.0
Other investments 0.1 0.1
Investments in affiliated collateralized loan obligations 6.4 10.8
Total 36.7 34.3
Contingent consideration liability 0.0 0.0
Level 2 | Fair value, measurements, recurring | Discretionary investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0.0 0.0
Level 2 | Fair value, measurements, recurring | Seed capital    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 30.2 23.4
Level 2 | Fair value, measurements, recurring | Supplemental savings plan liability economic hedges    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0.0 0.0
Level 3 | Fair value, measurements, recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents held in money market funds 0.0 0.0
Other investments 0.0 0.0
Investments in affiliated collateralized loan obligations 0.0 0.0
Total 0.0 0.0
Contingent consideration liability 161.2 306.3
Level 3 | Fair value, measurements, recurring | Discretionary investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0.0 0.0
Level 3 | Fair value, measurements, recurring | Seed capital    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0.0 0.0
Level 3 | Fair value, measurements, recurring | Supplemental savings plan liability economic hedges    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products $ 0.0 $ 0.0