XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Net revenues $ 1,670.7 $ 1,588.2 $ 4,818.5 $ 4,964.2
Operating expenses        
Compensation and related costs 636.4 588.1 1,938.1 1,633.1
Distribution and servicing 74.9 69.9 214.2 231.5
Advertising and promotion 21.1 24.3 69.8 69.1
Product and recordkeeping related costs 73.1 75.6 222.9 232.3
Technology, occupancy, and facility costs 159.7 143.6 461.0 411.8
General, administrative, and other 85.7 114.9 293.2 310.1
Change in fair value of contingent consideration 0.0 (29.9) (72.8) (125.7)
Acquisition-related amortization and impairment costs 38.5 27.1 93.1 81.4
Total operating expenses 1,089.4 1,013.6 3,219.5 2,843.6
Net operating income 581.3 574.6 1,599.0 2,120.6
Non-operating income (loss)        
Net gains (losses) on investments 30.7 (41.5) 213.7 (301.3)
Net gains (losses) on consolidated investment products (24.4) (41.7) 45.4 (247.7)
Other losses (3.5) 0.4 (14.7) (12.2)
Total non-operating income (loss) 2.8 (82.8) 244.4 (561.2)
Income before income taxes 584.1 491.8 1,843.4 1,559.4
Provision for income taxes 144.9 134.0 481.3 399.4
Net income 439.2 357.8 1,362.1 1,160.0
Less: net income (loss) attributable to redeemable non-controlling interests (14.0) (26.6) 11.0 (131.9)
Net income attributable to T. Rowe Price Group $ 453.2 $ 384.4 $ 1,351.1 $ 1,291.9
Earnings per share on common stock of T. Rowe Price Group        
Basic (in dollars per share) $ 1.98 $ 1.67 $ 5.88 $ 5.57
Diluted (in dollars per share) $ 1.97 $ 1.66 $ 5.86 $ 5.54
Investment advisory fees        
Revenues        
Net revenues $ 1,463.9 $ 1,442.0 $ 4,286.5 $ 4,600.8
Capital allocation-based income        
Revenues        
Net revenues 66.1 1.1 121.7 (80.8)
Administrative, distribution, and servicing fees        
Revenues        
Net revenues $ 140.7 $ 145.1 $ 410.3 $ 444.2