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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Net revenues $ 1,610.2 $ 1,513.0 $ 3,147.8 $ 3,376.0
Operating expenses        
Compensation and related costs 648.2 463.4 1,301.7 1,045.0
Distribution and servicing 67.8 75.7 139.3 161.6
Advertising and promotion 22.9 21.4 48.7 44.8
Product and recordkeeping related costs 77.7 76.3 149.8 156.7
Technology, occupancy, and facility costs 154.7 134.3 301.3 268.2
General, administrative, and other 100.0 96.4 207.5 195.2
Change in fair value of contingent consideration (23.2) (50.3) (72.8) (95.8)
Acquisition-related amortization 28.6 27.2 54.6 54.3
Total operating expenses 1,076.7 844.4 2,130.1 1,830.0
Net operating income 533.5 668.6 1,017.7 1,546.0
Non-operating income (loss)        
Net gains (losses) on investments 89.1 (169.9) 183.0 (259.8)
Net gains (losses) on consolidated investment products 24.4 (104.6) 69.8 (206.0)
Other losses (7.3) (5.4) (11.2) (12.6)
Total non-operating income (loss) 106.2 (279.9) 241.6 (478.4)
Income before income taxes 639.7 388.7 1,259.3 1,067.6
Provision for income taxes 158.5 100.9 336.4 265.4
Net income 481.2 287.8 922.9 802.2
Less: net income (loss) attributable to redeemable non-controlling interests 4.8 (51.8) 25.0 (105.3)
Net income attributable to T. Rowe Price Group $ 476.4 $ 339.6 $ 897.9 $ 907.5
Earnings per share on common stock of T. Rowe Price Group        
Basic (in dollars per share) $ 2.07 $ 1.47 $ 3.90 $ 3.90
Diluted (in dollars per share) $ 2.06 $ 1.46 $ 3.89 $ 3.88
Investment advisory fees        
Revenues        
Net revenues $ 1,430.8 $ 1,496.7 $ 2,822.6 $ 3,158.8
Capital allocation-based income        
Revenues        
Net revenues 38.7 (126.3) 55.6 (81.9)
Administrative, distribution, and servicing fees        
Revenues        
Net revenues $ 140.7 $ 142.6 $ 269.6 $ 299.1