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CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS AND OTHER ENTITIES (Tables) | 9 Months Ended
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Sep. 30, 2022
Consolidated Sponsored Investment Portfolios [Abstract] |
Schedule of Net Assets of Consolidated T. Rowe Price Investment Portfolios | The following table details the net assets of the consolidated T. Rowe Price investment products:
| 9/30/2022 |  | 12/31/2021
(in millions) | Voting interest entities |  | Variable interest entities |  | Total |  | Voting interest entities |  | Variable interest entities |  | Total
Cash and cash equivalents(1) | $ | .2 |  |  | $ | 77.9 |  |  | $ | 78.1 |  |  | $ | 7.3 |  |  | $ | 93.8 |  |  | $ | 101.1 |
Investments(2) | 48.5 |  |  | 1,124.9 |  |  | 1,173.4 |  |  | 188.9 |  |  | 1,645.0 |  |  | 1,833.9 |
Other assets | .8 |  |  | 32.0 |  |  | 32.8 |  |  | 5.1 |  |  | 22.7 |  |  | 27.8 |
Total assets | 49.5 |  |  | 1,234.8 |  |  | 1,284.3 |  |  | 201.3 |  |  | 1,761.5 |  |  | 1,962.8 |
Liabilities | 5.9 |  |  | 41.6 |  |  | 47.5 |  |  | 15.3 |  |  | 36.2 |  |  | 51.5 |
Net assets | $ | 43.6 |  |  | $ | 1,193.2 |  |  | $ | 1,236.8 |  |  | $ | 186.0 |  |  | $ | 1,725.3 |  |  | $ | 1,911.3 |
Attributable to T. Rowe Price | $ | 29.3 |  |  | $ | 626.7 |  |  | $ | 656.0 |  |  | $ | 125.3 |  |  | $ | 803.7 |  |  | $ | 929.0 |
Attributable to redeemable non-controlling interests | 14.3 |  |  | 566.5 |  |  | 580.8 |  |  | 60.7 |  |  | 921.6 |  |  | 982.3 |
| $ | 43.6 |  |  | $ | 1,193.2 |  |  | $ | 1,236.8 |  |  | $ | 186.0 |  |  | $ | 1,725.3 |  |  | $ | 1,911.3 |
(1) Cash and cash equivalents includes $.1 million at September 30, 2022, and $6.5 million at December 31, 2021, of T. Rowe Price money market mutual funds. (2) Investments include $8.6 million at September 30, 2022, and $42.5 million at December 31, 2021 of other T. Rowe Price investment products.
Schedule of Operating Results of Consolidated T. Rowe Price Investment Portfolios | The operating results of the consolidated T. Rowe Price investment products for the three- and nine-months ended September 30, 2022 and 2021, are reflected in our unaudited condensed consolidated statements of income as follows:
| Three months ended
| 9/30/2022 |  | 9/30/2021
(in millions) | Voting interest entities |  | Variable interest entities |  | Total |  | Voting interest entities |  | Variable interest entities |  | Total
Operating expenses reflected in net operating income | $ | — |  |  | $ | (1.8) |  |  | $ | (1.8) |  |  | $ | (.1) |  |  | $ | (2.7) |  |  | $ | (2.8) |
Net investment income (loss) reflected in non-operating income (loss) | (1.8) |  |  | (40.0) |  |  | (41.8) |  |  | .7 |  |  | (17.8) |  |  | (17.1) |
Impact on income before taxes | $ | (1.8) |  |  | $ | (41.8) |  |  | $ | (43.6) |  |  | $ | .6 |  |  | $ | (20.5) |  |  | $ | (19.9) |
Net income (loss) attributable to T. Rowe Price | $ | (1.1) |  |  | $ | (15.9) |  |  | $ | (17.0) |  |  | $ | .5 |  |  | $ | (.6) |  |  | $ | (.1) |
Net income (loss) attributable to redeemable non-controlling interests | (.7) |  |  | (25.9) |  |  | (26.6) |  |  | .1 |  |  | (19.9) |  |  | (19.8) |
| $ | (1.8) |  |  | $ | (41.8) |  |  | $ | (43.6) |  |  | $ | .6 |  |  | $ | (20.5) |  |  | $ | (19.9) |
| Nine months ended
| 9/30/2022 |  | 9/30/2021
(in millions) | Voting interest entities |  | Variable interest entities |  | Total |  | Voting interest entities |  | Variable interest entities |  | Total
Operating expenses reflected in net operating income | $ | (.3) |  |  | $ | (5.9) |  |  | $ | (6.2) |  |  | $ | (.4) |  |  | $ | (8.7) |  |  | $ | (9.1) |
Net investment income (loss) reflected in non-operating income | (16.5) |  |  | (231.3) |  |  | (247.8) |  |  | 14.1 |  |  | 61.5 |  |  | 75.6 |
Impact on income before taxes | $ | (16.8) |  |  | $ | (237.2) |  |  | $ | (254.0) |  |  | $ | 13.7 |  |  | $ | 52.8 |  |  | $ | 66.5 |
Net income (loss) attributable to T. Rowe Price Group | $ | (11.4) |  |  | $ | (110.7) |  |  | $ | (122.1) |  |  | $ | 8.8 |  |  | $ | 35.1 |  |  | $ | 43.9 |
Net income (loss) attributable to redeemable non-controlling interests | (5.4) |  |  | (126.5) |  |  | (131.9) |  |  | 4.9 |  |  | 17.7 |  |  | 22.6 |
| $ | (16.8) |  |  | $ | (237.2) |  |  | $ | (254.0) |  |  | $ | 13.7 |  |  | $ | 52.8 |  |  | $ | 66.5 |
Schedule of Cash flows of Consolidated T. Rowe Price Investment Portfolios | The table below details the impact of these consolidated investment products on the individual lines of our unaudited condensed consolidated statements of cash flows for the nine months ended September 30, 2022 and 2021.
| Nine months ended
| 9/30/2022 |  | 9/30/2021
(in millions) | Voting interest entities |  | Variable interest entities |  | Total |  | Voting interest entities |  | Variable interest entities |  | Total
Net cash provided by (used in) operating activities | $ | (17.7) |  |  | $ | 75.7 |  |  | $ | 58.0 |  |  | $ | (109.1) |  |  | $ | 127.7 |  |  | $ | 18.6 |
Net cash used in investing activities | (.1) |  |  | (8.6) |  |  | (8.7) |  |  | (11.9) |  |  | (3.7) |  |  | (15.6) |
Net cash provided by (used in) financing activities | 10.7 |  |  | (94.8) |  |  | (84.1) |  |  | 120.1 |  |  | (132.7) |  |  | (12.6) |
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products | — |  |  | 11.8 |  |  | 11.8 |  |  | — |  |  | (3.6) |  |  | (3.6) |
Net change in cash and cash equivalents during period | (7.1) |  |  | (15.9) |  |  | (23.0) |  |  | (.9) |  |  | (12.3) |  |  | (13.2) |
Cash and cash equivalents at beginning of year | 7.3 |  |  | 93.8 |  |  | 101.1 |  |  | 7.1 |  |  | 97.7 |  |  | 104.8 |
Cash and cash equivalents at end of period | $ | .2 |  |  | $ | 77.9 |  |  | $ | 78.1 |  |  | $ | 6.2 |  |  | $ | 85.4 |  |  | $ | 91.6 |
Schedule of Fair Values of Investments Held by Consolidated T. Rowe Price Investment Portfolios | The following table summarizes the investment holdings held by our consolidated T. Rowe Price investment products using fair value measurements determined based on the differing levels of inputs.
| 9/30/2022 |  | 12/31/2021
(in millions) | Level 1 |  | Level 2 |  | Level 1 |  | Level 2
Assets |  |  |  |  |  |  |
Cash equivalents | $ | .1 |  |  | $ | 21.0 |  |  | $ | 6.5 |  |  | $ | .7 |
Equity securities | 129.4 |  |  | 130.3 |  |  | 247.8 |  |  | 340.3 |
Fixed income securities |  |  | 875.7 |  |  | — |  |  | 1,187.4 |
Other investments | 9.8 |  |  | 28.2 |  |  | 5.7 |  |  | 52.7 |
| $ | 139.3 |  |  | $ | 1,055.2 |  |  | $ | 260.0 |  |  | $ | 1,581.1 |
Liabilities | $ | (8.8) |  |  | $ | (10.2) |  |  | $ | (.7) |  |  | $ | (9.7) |

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