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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Net revenues $ 6,460.5 $ 6,488.4 $ 7,671.9
Operating expenses      
Compensation and related costs 2,673.5 2,320.8 2,383.0
Distribution and servicing costs 289.9 301.5 373.9
Advertising and promotion 114.2 97.3 100.2
Product and recordkeeping related costs 291.0 300.1 236.3
Technology, occupancy, and facility costs 632.6 560.5 484.9
General, administrative, and other $ 421.3 412.2 383.6
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Change in fair value of contingent consideration    
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration] Acquisition-related amortization and impairment costs    
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration] Acquisition-related amortization and impairment costs    
Change in fair value of contingent consideration $ (82.4) (161.2) 0.0
Acquisition-related amortization and impairment costs 134.2 283.5 0.0
Total operating expenses 4,474.3 4,114.7 3,961.9
Net operating income 1,986.2 2,373.7 3,710.0
Non-operating income (loss)      
Net gains (losses) on investments 355.2 (204.7) 215.8
Net gains (losses) on consolidated investment products 164.6 (203.5) 74.7
Other losses (15.7) (17.3) (5.9)
Total non-operating income (loss) 504.1 (425.5) 284.6
Income before income taxes 2,490.3 1,948.2 3,994.6
Provision for income taxes 654.6 498.6 896.1
Net income 1,835.7 1,449.6 3,098.5
Less: net income (loss) attributable to redeemable non-controlling interests 47.0 (108.3) 15.6
Net income attributable to T. Rowe Price Group $ 1,788.7 $ 1,557.9 $ 3,082.9
Earnings per share on common stock of T. Rowe Price Group      
Basic (in dollars per share) $ 7.78 $ 6.73 $ 13.25
Diluted (in dollars per share) $ 7.76 $ 6.70 $ 13.12
Investment advisory fees      
Revenues      
Net revenues $ 5,747.7 $ 5,969.1 $ 7,098.1
Capital allocation-based income      
Revenues      
Net revenues 161.9 (54.3) 0.0
Administrative, distribution, and servicing fees      
Revenues      
Net revenues $ 550.9 $ 573.6 $ 573.8