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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurements | The following table summarizes our investments that are recognized in our consolidated balance sheets at December 31 using fair value measurements determined based on the differing levels of inputs. This table excludes investments held by consolidated investment products which are presented separately on our consolidated balance sheets and are detailed in Note 6.
| 2024 |  | 2023
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Level 1 |  | Level 2 |  | Level 3
T. Rowe Price investment products |  |  |  |  |  |  |  |  |  |  |
Cash equivalents held in money market funds | $ | 2,309.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,678.1 |  |  | $ | — |  |  | $ | — |
Discretionary investments | 258.8 |  |  | — |  |  | — |  |  | 246.4 |  |  | — |  |  | — |
Seed capital | 209.4 |  |  | 53.4 |  |  | — |  |  | 206.0 |  |  | 41.8 |  |  | — |
Deferred compensation liabilities economic hedges | 992.8 |  |  | — |  |  | — |  |  | 806.6 |  |  | — |  |  | — |
Other investments | 0.1 |  |  | — |  |  | — |  |  | 0.7 |  |  | — |  |  | — |
Investments in affiliated collateralized loan obligations | — |  |  | 6.3 |  |  | — |  |  | — |  |  | 8.4 |  |  | — |
Total | $ | 3,770.9 |  |  | $ | 59.7 |  |  | $ | — |  |  | $ | 2,937.8 |  |  | $ | 50.2 |  |  | $ | — |
Contingent consideration liability | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 13.4 |
Schedule of Change in Contingent Consideration Liability | The change in the contingent consideration liability, included in accounts payable and accrued expenses, is measured at fair value for which we used Level 3 inputs to determine fair value is as follows:
|  |  |  | Year-ended
(in millions) |  |  |  | 12/31/2024 | 12/31/2023
Balance at beginning of the year |  |  |  | $ | 13.4 |  | $ | 95.8 |
Unrealized gains, included in earnings |  |  |  | (13.4) |  | (82.4) |
Balance at end of the year |  |  |  | $ | — |  | $ | 13.4 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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