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FAIR VALUE MEASUREMENTS - Summary of Investments (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration liability $ 13.4 $ 95.8
NAV Per Share    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 69.0 86.4
Fair value, measurements, recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents held in money market funds 1,678.1 1,412.0
Other investments 0.7 0.6
Investments in affiliated collateralized loan obligations 0.0 0.0
Total 2,937.8 2,576.3
Contingent consideration liability 0.0 0.0
Fair value, measurements, recurring | Level 1 | Discretionary investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 246.4 242.0
Fair value, measurements, recurring | Level 1 | Seed capital    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 206.0 161.0
Fair value, measurements, recurring | Level 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 806.6 760.7
Fair value, measurements, recurring | Level 2    
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 8.4 6.4
Total 50.2 40.6
Contingent consideration liability 0.0 0.0
Fair value, measurements, recurring | Level 2 | Discretionary investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0.0 0.0
Fair value, measurements, recurring | Level 2 | Seed capital    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 41.8 34.1
Fair value, measurements, recurring | Level 2 | 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
Fair value, measurements, recurring | Level 3    
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
Fair value, measurements, recurring | Level 3 | Discretionary investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0.0 0.0
Fair value, measurements, recurring | Level 3 | Seed capital    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0.0 0.0
Fair value, measurements, recurring | Level 3 | 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