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FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurements (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
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