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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income $ 922.9 $ 802.2
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, amortization and impairment of property, equipment and software 117.9 109.2
Amortization and impairment of acquisition-related assets and retention arrangements 97.9 106.7
Fair value remeasurement of contingent consideration liability (72.8) (95.8)
Stock-based compensation expense 115.4 122.9
Net (gains) losses recognized on investments (215.6) 338.8
Net redemptions in sponsored investment products used to economically hedge supplemental savings plan liability 18.4 3.9
Net change in securities held by consolidated sponsored investment products (414.5) 282.3
Other changes in assets and liabilities 336.9 56.8
Net cash provided by operating activities 906.5 1,727.0
Cash flows from investing activities    
Purchases of sponsored investment products (27.3) (31.2)
Dispositions of sponsored investment products 73.8 141.4
Net cash of sponsored investment products on deconsolidation (17.8) (13.5)
Additions to property, equipment and software (132.4) (122.8)
Other investing activity (32.2) 0.4
Net cash used in investing activities (135.9) (25.7)
Cash flows from financing activities    
Repurchases of common stock (50.4) (510.4)
Common share issuances under stock-based compensation plans 12.1 7.8
Dividends paid to common stockholders of T. Rowe Price (562.4) (556.2)
Net distributions to non-controlling interests in consolidated entities (2.7) (6.5)
Net subscriptions (redemptions) from redeemable non-controlling interest holders 283.4 (65.7)
Net cash used in financing activities (320.0) (1,131.0)
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products 0.9 (7.3)
Net change in cash and cash equivalents during period 451.5 563.0
Cash and cash equivalents at beginning of year 1,874.7 1,624.2
Cash and cash equivalents at end of period $ 2,326.2 $ 2,187.2