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FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022
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Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
Contingent consideration liability | $ 23.0 | $ 95.8
Discretionary investments |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
T. Rowe Price investment products | 242.1 | 242.0
Seed capital |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
T. Rowe Price investment products | 233.2 | 195.1
Supplemental savings plan liability economic hedges |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |
T. Rowe Price investment products | 820.3 | 760.7
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 | 1,757.3 | 1,412.0
Other investments | 0.6 | 0.6
Investments in affiliated collateralized loan obligations | 0.0 | 0.0
Total | 3,005.7 | 2,576.3
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 | 242.1 | 242.0
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 | 185.4 | 161.0
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 | 820.3 | 760.7
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 | 0.0 | 0.1
Investments in affiliated collateralized loan obligations | 6.9 | 6.4
Total | 54.7 | 40.6
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 | 47.8 | 34.1
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 | 23.0 | 95.8
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

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- Definition Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Amount of liability recognized arising from contingent consideration in a business combination. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479581/805-30-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 25 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479668/805-30-25-6 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 35 -Paragraph 1 -Subparagraph (b) -SubTopic 30 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479613/805-30-35-1 + Details
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- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References No definition available. + Details
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- Definition Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI), classified as current. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482736/825-10-45-1A + Details
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- Definition Fair value portion of investments in an entity not consolidated. Includes, but is not limited to, investments in an entity that is affiliated with the reporting entity by means of direct or indirect ownership, an entity in which the reporting entity shares control of the entity with another party or group, an entity which the company has significant influence, but does not have control and subsidiaries that are not required to be consolidated and are accounted for using the equity or cost method. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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