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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 802.2 $ 1,607.5
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization of property, equipment and software 109.2 99.4
Amortization of acquisition-related assets and retention arrangements 106.7 0.0
Fair value remeasurement of contingent consideration liability (95.8) 0.0
Stock-based compensation expense 122.9 113.9
Net (gains) losses recognized on investments 338.8 (140.9)
Net redemptions in T. Rowe Price investment products used to economically hedge supplemental savings plan liability 3.9 21.9
Net change in securities held by consolidated T. Rowe Price investment products 282.3 (253.4)
Other changes 56.8 353.6
Net cash provided by operating activities 1,727.0 1,802.0
Cash flows from investing activities    
Purchases of investment products (31.2) (30.6)
Dispositions of investment products 141.4 190.7
Net cash of T. Rowe Price investment products on deconsolidation (13.5) (44.2)
Additions to property, equipment and software (122.8) (121.8)
Other investing activity 0.4 11.6
Net cash provided by (used in) investing activities (25.7) 5.7
Cash flows from financing activities    
Repurchases of common stock (510.4) (311.4)
Common share issuances under stock-based compensation plans 7.8 24.7
Dividends paid to common stockholders of T. Rowe Price (556.2) (505.1)
Net distributions to non-controlling interests in consolidated entities (6.5) 0.0
Net subscriptions (redemptions) received from redeemable non-controlling interest holders (65.7) 299.1
Net cash used in financing activities (1,131.0) (492.7)
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products (7.3) (0.5)
Net change in cash and cash equivalents during period 563.0 1,314.5
Cash and cash equivalents at beginning of year 1,624.2 2,256.5
Cash and cash equivalents at end of period $ 2,187.2 $ 3,571.0