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FAIR VALUE MEASUREMENTS (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration liability $ 95.8 $ 306.3
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 1,412.0 1,183.9
Other investments 0.6 0.7
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure 0.0 0.0
Total 2,576.3 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 242.0 518.7
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 161.0 241.4
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 760.7 881.5
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 Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure 6.4 10.8
Total 40.6 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 34.1 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 Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure 0.0 0.0
Total 0.0 0.0
Contingent consideration liability 95.8 306.3
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
NAV Per Share    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products $ 86.4 $ 108.1