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CONSOLIDATED SPONSORED INVESTMENT PRODUCTS (Tables)
 12 Months Ended
Dec. 31, 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 sponsored investment products at December 31:
20222021
(in millions)VOEVIETotalVOEVIETotal
Cash and cash equivalents(1)
$16.2 $102.9 $119.1 $7.3 $93.8 $101.1 
Investments(2)
205.3 1,255.5 1,460.8 188.9 1,645.0 1,833.9 
Other assets6.3 17.2 23.5 5.1 22.7 27.8 
Total assets227.8 1,375.6 1,603.4 201.3 1,761.5 1,962.8 
Liabilities50.0 39.1 89.1 15.3 36.2 51.5 
Net assets$177.8 $1,336.5 $1,514.3 $186.0 $1,725.3 $1,911.3 
Attributable to T. Rowe Price Group$142.4 $715.2 $857.6 $125.3 $803.7 $929.0 
Attributable to redeemable non-controlling interests35.4 621.3 656.7 60.7 921.6 982.3 
$177.8 $1,336.5 $1,514.3 $186.0 $1,725.3 $1,911.3 
(1) Cash and cash equivalents includes $2.6 million and $6.5 million at December 31, 2022 and 2021, respectively, of investments in
T. Rowe Price money market mutual funds.
(2) Investments include $7.6 million and $42.5 million at December 31, 2022 and 2021, respectively, of sponsored investment products.
Schedule of Operating Results of Consolidated T. Rowe Price Investment Portfolios
The operating results of the consolidated sponsored investment products, are reflected in our consolidated statements of income for the year ended December 31 as follows:
202220212020
(in millions)VOEVIETotalVOEVIETotalVOEVIETotal
Operating expenses reflected in net operating income$(.5)$(7.7)$(8.2)$(.6)$(11.6)$(12.2)$(1.6)$(14.8)$(16.4)
Net gains (losses) reflected in non-operating income(13.4)(190.1)(203.5)18.0 56.7 74.7 13.2 238.5 251.7 
Impact on income before taxes$(13.9)$(197.8)$(211.7)$17.4 $45.1 $62.5 $11.6 $223.7 $235.3 
Net income (loss) attributable to T. Rowe Price Group$(9.5)$(93.9)$(103.4)$11.4 $35.5 $46.9 $11.6 $73.1 $84.7 
Net income (loss) attributable to redeemable non-controlling interests(4.4)(103.9)(108.3)6.0 9.6 15.6 — 150.6 150.6 
$(13.9)$(197.8)$(211.7)$17.4 $45.1 $62.5 $11.6 $223.7 $235.3 
Schedule of Cash flows of Consolidated T. Rowe Price Investment Portfolios
The following table details the impact of these consolidated investment products on the individual lines of our consolidated statements of cash flows.
202220212020
(in millions)VOEVIETotalVOEVIETotalVOEVIETotal
Net cash provided by operating activities$(84.1)$6.9 $(77.2)$(135.3)$160.8 $25.5 $(155.4)$(401.3)$(556.7)
Net cash provided by (used in) investing activities.1 (8.8)(8.7)(11.9)(5.0)(16.9)(23.4)(30.5)(53.9)
Net cash used in financing activities92.9 1.5 94.4 147.4 (162.3)(14.9)176.0 461.0 637.0 
FX impact on cash— 9.5 9.5 — 2.6 2.6 — 1.9 1.9 
Net change in cash and cash equivalents during period8.9 9.1 18.0 .2 (3.9)(3.7)(2.8)31.1 28.3 
Cash and cash equivalents at beginning of year7.3 93.8 101.1 7.1 97.7 104.8 9.9 66.6 76.5 
Cash and cash equivalents at end of year$16.2 $102.9 $119.1 $7.3 $93.8 $101.1 $7.1 $97.7 $104.8 
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 sponsored investment products using fair value measurements determined based on the differing levels of inputs as of December 31.
20222021
(in millions)
Level 1
Level 2
Level 3
Level 1
Level 2
Level 3
Assets
  Cash equivalents$4.4 $20.6 $— $6.5 $.7 $— 
Equity securities136.7 167.8 — 247.8 340.3 — 
Fixed income securities36.4 1,014.7 — — 1,187.4 — 
Other investments3.3 30.1 71.8 5.7 52.7 — 
$180.8 $1,233.2 $71.8 $260.0 $1,581.1 $— 
Liabilities$(.9)$(19.1)$— $(.7)$(9.7)$— 

The fair value of Level 3 investments held by consolidated sponsored investment products are derived from inputs that are unobservable and which reflect the company's own determinations about the assumptions that market participants would use in pricing the investments, including assumptions about risk. These inputs are developed based on the company's own data, which is adjusted if information indicates that market participants would use different assumptions. Changes in fair value Level 3 are solely attributable to the purchases of investments during 2022. There were no transfers into or out of Level 3 of the fair value hierarchy for the year ended December 31, 2022.

The following table provides information about the significant Level 3 inputs:
Fair value measurements as of December 31, 2022
    (in millions)Fair valueValuation techniquesUnobservable inputsRanges
Other investments$71.8 Market Yield (Comparables)Yield
9.8% - 12.4%