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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Net revenues $ 1,785.6 $ 1,670.7 $ 5,269.1 $ 4,818.5 CloseClose
Operating expenses        
Compensation and related costs 678.3 636.4 2,048.4 1,938.1
Distribution and servicing 91.6 74.9 261.2 214.2
Advertising and promotion 20.8 21.1 79.4 69.8
Product and recordkeeping related costs 75.0 73.1 223.0 222.9
Technology, occupancy, and facility costs 164.0 159.7 474.8 461.0
General, administrative, and other 104.2 85.7 305.5 293.2
Change in fair value of contingent consideration (13.4) 0.0 (13.4) (72.8)
Acquisition-related amortization and impairment costs 51.5 38.5 125.3 93.1
Total operating expenses 1,172.0 1,089.4 3,504.2 3,219.5 CloseClose
Net operating income 613.6 581.3 1,764.9 1,599.0
Non-operating income (loss)        
Net gains (losses) on investments 119.0 30.7 318.5 213.7
Net gains (losses) on consolidated sponsored investment products 85.9 (24.4) 166.7 45.4
Other gains (losses), including foreign currency gains (losses) 7.6 (3.5) (3.5) (14.7)
Total non-operating income (loss) 212.5 2.8 481.7 244.4 Close
Income before income taxes 826.1 584.1 2,246.6 1,843.4 CloseClose
Provision for income taxes 185.7 144.9 527.5 481.3 CloseClose
Net income 640.4 439.2 1,719.1 1,362.1 CloseClose
Less: net income (loss) attributable to redeemable non-controlling interests 37.4 (14.0) 58.9 11.0
Net income attributable to T. Rowe Price Group, Inc. $ 603.0 $ 453.2 $ 1,660.2 $ 1,351.1
Earnings per share on common stock of T. Rowe Price Group, Inc.        
Basic (in dollars per share) $ 2.64 $ 1.98 $ 7.25 $ 5.88
Diluted (in dollars per share) $ 2.64 $ 1.97 $ 7.23 $ 5.86
Investment advisory fees        
Revenues        
Net revenues $ 1,632.9 $ 1,463.9 $ 4,772.5 $ 4,286.5
Capital allocation-based income        
Revenues        
Net revenues 4.6 66.1 51.8 121.7
Administrative, distribution, and servicing fees        
Revenues        
Net revenues $ 148.1 $ 140.7 $ 444.8 $ 410.3