View Filing Data

Balances (in shares) at Dec. 31, 2017

5,838.9

$ 49.0

$ 846.1

4,957.6

(13.8)

245,111,000

Beginning Balance at Dec. 31, 2017

5,824.4

$ 49.0

846.1

4,932.9

(3.6)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

453.7

Other comprehensive income (loss), net of tax

7.4

Dividends declared

(174.9)

Common stock-based compensation plans activity

Shares issued upon option exercises (shares)

1,103,000

Shares issued upon option exercises

45.1

$ 0.2

44.9

Net shares issued upon vesting of restricted stock units (in shares)

6,000

Net shares issued upon vesting of restricted stock units

$ (0.4)

$ 0.0

$ (0.4)

Forfeiture of restricted awards (shares)

(4,000)

Forfeiture of restricted awards

$ 0.0

0.0

Stock-based compensation expense

45.6

Restricted stock units issued as dividend equivalents

0.0

0.1

(0.1)

Common shares repurchased (shares)

(2,934,000)

Common shares repurchased

(313.5)

$ (0.5)

(281.7)

(31.3)

Balances (in shares) at Mar. 31, 2018

243,282,000

Ending Balance at Mar. 31, 2018

5,901.9

$ 48.7

654.6

5,205.0

(6.4)

Beginning balances attributable to redeemable non-controlling interests at Dec. 31, 2017

992.8

Increase (Decrease) in Temporary Equity [Roll Forward]

Net income (loss) attributable to redeemable non-controlling interests

1.8

Other comprehensive income (loss), net of tax, attributable to redeemable non-controlling interests

7.0

Net subscriptions into consolidated T. Rowe Price investment products

177.8

Net reconsolidations of T. Rowe Price investment products

(632.9)

Ending balances attributable to redeemable non-controlling interests at Mar. 31, 2018

546.5

Balances (in shares) at Dec. 31, 2018

238,069,000

Beginning Balance at Dec. 31, 2018

6,124.3

$ 47.6

654.6

5,464.1

(42.0)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

512.6

Other comprehensive income (loss), net of tax

0.4

Dividends declared

$ (183.8)

(183.8)

Common stock-based compensation plans activity

Shares issued upon option exercises (shares)

972,655

830,000

Shares issued upon option exercises

$ 45.0

$ 0.2

44.8

Net shares issued upon vesting of restricted stock units (in shares)

14,000

Net shares issued upon vesting of restricted stock units

$ (1.2)

$ 0.0

$ (1.2)

Forfeiture of restricted awards (shares)

(5,000)

Forfeiture of restricted awards

$ 0.0

0.0

Stock-based compensation expense

43.5

Common shares repurchased (shares)

(2,476,000)

Common shares repurchased

(229.8)

$ (0.5)

(87.2)

(142.1)

Balances (in shares) at Mar. 31, 2019

236,432,000

Ending Balance at Mar. 31, 2019

6,311.0

$ 47.3

$ 654.5

$ 5,650.8

$ (41.6)

Beginning balances attributable to redeemable non-controlling interests at Dec. 31, 2018

740.3

Increase (Decrease) in Temporary Equity [Roll Forward]

Net income (loss) attributable to redeemable non-controlling interests

41.4

Other comprehensive income (loss), net of tax, attributable to redeemable non-controlling interests

(1.3)

Net subscriptions into consolidated T. Rowe Price investment products

85.9

Net reconsolidations of T. Rowe Price investment products

20.4

Ending balances attributable to redeemable non-controlling interests at Mar. 31, 2019

$ 886.7

[1]	ncludes the reclassification of $1.7 million of stranded income taxes on certain investments resulting from U.S. tax law changes enacted on December 22, 2017, from accumulated other comprehensive income to retained earnings.
[2]	Accumulated other comprehensive income.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash dividends declared (in USD per share)	$ 0.76	$ 0.70

THE COMPANY AND BASIS OF PREPARATION.	3 Months Ended
THE COMPANY AND BASIS OF PREPARATION.	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
THE COMPANY AND BASIS OF PREPARATION	THE COMPANY AND BASIS OF PREPARATION. T. Rowe Price Group Inc. derives its consolidated revenues and net income primarily from investment advisory services that its subsidiaries provide to individual and institutional investors in the T. Rowe Price U.S. mutual funds (“U.S. mutual funds”), separately managed accounts, subadvised funds, and other T. Rowe Price products. We also provide certain investment advisory clients with related administrative services, including distribution, mutual fund transfer agent, accounting, and shareholder services; participant recordkeeping and transfer agent services for defined contribution retirement plans; brokerage; and trust services. Investment advisory revenues depend largely on the total value and composition of assets under our management. Accordingly, fluctuations in financial markets and in the composition of assets under management impact our revenues and results of operations. BASIS OF PRESENTATION. These unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States. These principles require the use of estimates and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of our results for the interim periods presented. All such adjustments are of a normal recurring nature. Actual results may vary from our estimates. Certain prior year amounts have been reclassified to conform to the 2019 presentation. The unaudited interim financial information contained in these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements contained in our 2018 Annual Report. NEW ACCOUNTING GUIDANCE. We adopted Accounting Standards Update No. 2016-02 — Leases (Topic 842) on January 1, 2019. The update required the recognition of right-of-use lease assets and liabilities on the balance sheet and the disclosure of qualitative and quantitative information about leasing arrangements. We adopted this standard using a modified retrospective approach without restating prior comparative periods. We also elected to use certain practical expedients that allowed us to not perform the following: (1) reassess whether expired or existing non-lease contracts that commenced before January 1, 2019 contained an embedded lease, (2) reevaluate the accounting classification of our existing operating leases, and (3) determine whether initial direct costs related to existing leases should be capitalized under this guidance. On January 1, 2019, we recognized operating lease assets totaling $168.7 million and corresponding operating lease liabilities of $168.7 million related primarily to our real estate leases. At implementation, we also reclassified $27.7 million in deferred rent liabilities related to these leases reducing the recognized operating lease assets to $141.0 million. The adoption did not have a material impact on our results of operations; however, the initial recognition of our operating lease assets and operating lease liabilities on January 1, 2019, represented a noncash investing activity that affected the amount reported in other changes in assets and liabilities our unaudited condensed consolidated statements of cash flows. Our leases accounting policy is included in the Summary of Significant Accounting Policies section below. Additional information on our operating leases is included in Note 6 - Leases. NEWLY ISSUED BUT NOT YET ADOPTED ACCOUNTING GUIDANCE. In August 2018, the FASB issued Accounting Standards Update No. 2018-15 — Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This update provides additional guidance on the accounting for costs of implementation activities performed in a cloud computing arrangement that is a service contract. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Though early adoption is permitted, we expect to adopt this update on January 1, 2020. We are currently evaluating the impact this standard will have on our financial position and results of operations. We have considered all other newly issued accounting guidance that is applicable to our operations and the preparation of our unaudited condensed consolidated statements, including those we have not yet adopted. We do not believe that any such guidance has or will have a material effect on our financial position or results of operations. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. Leases We review new arrangements at inception to evaluate whether we obtain substantially all the economic benefits of and have the right to control the use of an asset. If we determine that an arrangement qualifies as a lease, we recognize a lease liability and a corresponding asset on the lease’s commencement date. The lease liability is initially measured at the present value of the future minimum lease payments over the lease term using the rate implicit in the arrangement or, if not available, our incremental borrowing rate. An operating lease asset is measured initially at the value of the lease liability but excludes any lease incentives and initial direct costs incurred. Our leases qualify as operating leases and consist primarily of real estate leases for corporate offices, data centers, and other facilities. We measure our operating lease liabilities using an estimated incremental borrowing rate as there is no rate implicit in any of our operating lease arrangements. Since we do not have any outstanding borrowings, we estimate our incremental borrowing rate based on our estimated credit rating and available market information. Additionally, certain of our leases contain options to extend or terminate the lease term that, if exercised, would result in the remeasurement of the operating lease liability. Our operating leases contain both lease and non-lease components. Non-lease components are distinct elements of a contract that are not related to securing the use of the lease assets, such as common area maintenance and other management costs. We elected for our real estate operating leases to measure the lease liability by combining the lease and non-lease components as a single lease component. As such, we included the fixed payments and any payments that depend on a rate or index that relate to our lease and non-lease components in the measurement of the operating lease liability. We recognize lease expense on a straight-line basis over the lease term. Operating lease expense is recognized as part of technology, occupancy, and facility costs in our unaudited condensed consolidated statements of income.

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.

3 Months Ended

Mar. 31, 2019

Information about Receivables, Revenues, and Services [Abstract]

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.

Revenues earned during the first quarter of 2019 and 2018 under agreements with clients include:



	Three months ended 3/31/2019								Three months ended 3/31/2018
			Administrative, distribution, and servicing fees								Administrative, distribution, and servicing fees
(in millions)	Investment advisory fees		Administrative fees		Distribution and servicing fees		Net revenues		Investment advisory fees		Administrative fees		Distribution and servicing fees		Net revenues
U.S. mutual funds	$	815.9	$	76.6	$	30.2	$	922.7	$	832.9	$	81.8	$	36.6	$	951.3
Subadvised and separate accounts and other investment products	378.3		—		—		378.3		356.3		—		—		356.3
Other clients	—		26.3		—		26.3		—		20.4		—		20.4
	$	1,194.2	$	102.9	$	30.2	$	1,327.3	$	1,189.2	$	102.2	$	36.6	$	1,328.0

Total net revenues earned from our related parties, specifically T. Rowe Price investment products, aggregate $1,093.4 and $1,100.6 million for the three months ended March 31, 2019 and 2018, respectively. Accounts receivable from these products aggregate to $391.3 million at March 31, 2019, and $354.8 million at December 31, 2018.

The following table details the investment advisory fees earned from clients by their underlying asset class.



	Three months ended
(in millions)	3/31/2019		3/31/2018
U.S. mutual funds
Equity and blended assets	$	694.5	$	705.5
Fixed income, including money market	121.4		127.4
	815.9		832.9
Subadvised and separate accounts and other investment products
Equity and blended assets	318.8		297.0
Fixed income, including money market	59.5		59.3
	378.3		356.3
Total	$	1,194.2	$	1,189.2

The following table summarizes the assets under management on which we earn investment advisory fees.



	Average during
	Three months ended				As of
(in billions)	3/31/2019		3/31/2018		3/31/2019		12/31/2018
U.S. mutual funds
Equity and blended assets	$	487.6	$	494.6	$	506.6	$	441.1
Fixed income, including money market	122.5		127.4		124.1		123.4
	610.1		622.0		630.7		564.5
Subadvised and separate accounts and other investment products
Equity and blended assets	332.9		308.2		347.9		299.2
Fixed income, including money market	100.5		95.3		103.1		98.6
	433.4		403.5		451.0		397.8
Total	$	1,043.5	$	1,025.5	$	1,081.7	$	962.3

Investors that we serve are primarily domiciled in the U.S.; investment advisory clients outside the U.S. account for 6.4% and 6.2% of our assets under management at March 31, 2019, and December 31, 2018, respectively.

INVESTMENTS.

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

INVESTMENTS.

The carrying values of our investments that are not part of the consolidated T. Rowe Price investment products are as follows:



(in millions)	3/31/2019		12/31/2018
Investments held at fair value
T. Rowe Price investment products	$	1,542.4	$	1,538.4
T. Rowe Price investment products designated as an economic hedge of supplemental savings plan liability	429.2		381.3
Investment partnerships and other investments	99.1		99.6
Equity method investments
T. Rowe Price investment products	308.7		276.2
26% interest in UTI Asset Management Company Limited (India)	161.3		152.4
Investment partnerships and other investments	5.0		4.5
U.S. Treasury note	1.0		1.0
Total	$	2,546.7	$	2,453.4

The investment partnerships are carried at fair value using net asset value (“NAV”) per share as a practical expedient. Our interests in these partnerships are generally not redeemable and are subject to significant restrictions on transferability. The underlying investments of these partnerships have contractual terms through 2029, though we may receive distributions of liquidating assets over a longer term. The investment strategies of these partnerships include growth equity, buyout, venture capital, and real estate.

During the three months ended March 31, 2019, net gains on investments included $50.6 million of net unrealized gains related to investments held at fair value that were still held at March 31, 2019. For the same period of 2018, the net losses on investments included $1.9 million of net unrealized losses on investments held at fair value that were still held at March 31, 2018.

During the three months ended March 31, 2019 and 2018, certain T. Rowe Price investment products in which we provided initial seed capital at the time of formation were deconsolidated, as we no longer had a controlling interest. Depending on our ownership interest, we are now reporting our residual interests in these T. Rowe Price investment products as either an equity method investment or an investment held at fair value. Additionally, during the three months ended March 31, 2019 and 2018, certain T. Rowe Price investment products that were being accounted for as equity method investments were consolidated, as we regained a controlling interest. The net impact of these changes on our unaudited condensed consolidated balance sheets and statements of income as of the dates the portfolios were deconsolidated or reconsolidated is detailed below.



	Three months ended
(in millions)	3/31/2019			3/31/2018
Net increase (decrease) in assets of consolidated T. Rowe Price investment products	$	12.3		$	(757.5	)
Net decrease in liabilities of consolidated T. Rowe Price investment products	$	(.9	)	$	(5.2	)
Net increase (decrease) in redeemable non-controlling interests	$	20.4		$	(632.9	)

Gains recognized upon deconsolidation	$	.1		$	3.1

The gains or losses recognized upon deconsolidation were the result of reclassifying currency translation adjustments accumulated on certain T. Rowe Price investment products with non-USD functional currencies from accumulated other comprehensive income to non-operating income.

VARIABLE INTEREST ENTITIES.

Our investments at March 31, 2019 and December 31, 2018, include interests in variable interest entities that we do not consolidate as we are not deemed the primary beneficiary. Our maximum risk of loss related to our involvement with these entities is as follows:



(in millions)	3/31/2019		12/31/2018
Investment carrying values	$	141.1	$	143.3
Unfunded capital commitments	24.0		27.3
Uncollected investment advisory and administrative fees	8.1		5.2
	$	173.2	$	175.8

The unfunded capital commitments totaling $24.0 million and $27.3 million at March 31, 2019 and December 31, 2018, respectively, relate primarily to the investment partnerships in which we have an existing investment. In addition to such amounts, a percentage of prior distributions may be called under certain circumstances.

FAIR VALUE MEASUREMENTS.

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS.

We determine the fair value of our cash equivalents and certain investments using the following broad levels of inputs as defined by related accounting standards:

Level 1 – quoted prices in active markets for identical securities.

Level 2 – observable inputs other than Level 1 quoted prices including, but not limited to, quoted prices for similar


	securities, interest rates, prepayment speeds, and credit risk. These inputs are based on market data

obtained from independent sources.

Level 3 – unobservable inputs reflecting our own assumptions based on the best information available. We do not

value any investments using Level 3 inputs.

These levels are not necessarily an indication of the risk or liquidity associated with our investments. The following table summarizes our investments that are recognized in our unaudited condensed consolidated balance sheets using fair value measurements determined based on the differing levels of inputs. This table excludes investments held by the consolidated T. Rowe Price investment products which are presented separately on our unaudited condensed consolidated balance sheets and are detailed in Note 5.



	3/31/2019				12/31/2018
(in millions)	Level 1		Level 2		Level 1		Level 2
Cash equivalents held in T. Rowe Price money market funds	$	1,398.3	$	—	$	1,196.0	$	—
T. Rowe Price investment products	1,964.1		7.5		1,900.5		19.2
Total	$	3,362.4	$	7.5	$	3,096.5	$	19.2

As required by the accounting guidance, the fair value hierarchy levels table above does not include the investment partnerships and other investments that are held at fair value using their NAV per share as a practical expedient. The carrying value of these investments as disclosed in Note 3 were $99.1 million at March 31, 2019 and $99.6 million at December 31, 2018.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS.

3 Months Ended

Mar. 31, 2019

Consolidated Sponsored Investment Portfolios [Abstract]

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS.

The T. Rowe Price investment products that we consolidate in our unaudited condensed consolidated financial statements are generally those products we provided initial seed capital at the time of their formation and have a controlling interest. Our U.S. mutual funds are considered voting interest entities, while those regulated outside the U.S. are considered variable interest entities.

The following table details the net assets of the consolidated T. Rowe Price investment products:



	3/31/2019						12/31/2018
(in millions)	Voting interest entities		Variable interest entities		Total		Voting interest entities		Variable interest entities		Total
Cash and cash equivalents⁽¹⁾	$	16.3	$	59.8	$	76.1	$	18.5	$	51.6	$	70.1
Investments⁽²⁾	289.7		1,509.0		1,798.7		261.3		1,322.7		1,584.0
Other assets	9.7		51.8		61.5		8.0		18.3		26.3
Total assets	315.7		1,620.6		1,936.3		287.8		1,392.6		1,680.4
Liabilities	23.6		41.1		64.7		16.0		22.7		38.7
Net assets	$	292.1	$	1,579.5	$	1,871.6	$	271.8	$	1,369.9	$	1,641.7

Attributable to T. Rowe Price Group	$	199.8	$	785.1	$	984.9	$	175.3	$	726.1	$	901.4
Attributable to redeemable non-controlling interests	92.3		794.4		886.7		96.5		643.8		740.3
	$	292.1	$	1,579.5	$	1,871.6	$	271.8	$	1,369.9	$	1,641.7

⁽¹⁾Cash and cash equivalents includes $15.3 million and $18.5 million at March 31, 2019 and December 31, 2018, respectively, of T. Rowe Price money market mutual funds.

⁽²⁾Investments includes $42.1 million and $43.8 million at March 31, 2019 and December 31, 2018, respectively, of T. Rowe Price investment products.

Although we can redeem our net interest in these consolidated T. Rowe Price investment products at any time, we cannot directly access or sell the assets held by these products to obtain cash for general operations. Additionally, the assets of these investment products are not available to our general creditors.

Since third party investors in these investment products have no recourse to our credit, our overall risk related to the net assets of consolidated T. Rowe Price investment products is limited to valuation changes associated with our net interest. We, however, are required to recognize the valuation changes associated with all underlying investments held by these products in our unaudited condensed consolidated statements of income, and disclose the portion attributable to third party investors as net income attributable to redeemable non-controlling interests.

The operating results of the consolidated T. Rowe Price investment products for the three months ended March 31, 2019 and 2018 are reflected in our unaudited condensed consolidated statements of income as follows:



	Three months ended
	3/31/2019									3/31/2018
(in millions)	Voting interest entities			Variable interest entities			Total			Voting interest entities			Variable interest entities			Total
Operating expenses reflected in net operating income	$	(.3	)	$	(2.8	)	$	(3.1	)	$	(.3	)	$	(2.2	)	$	(2.5	)
Net investment income (loss) reflected in non-operating income	8.0			93.9			101.9			(.8		)	1.6			.8
Impact on income before taxes	$	7.7		$	91.1		$	98.8		$	(1.1	)	$	(.6	)	$	(1.7	)

Net income (loss) attributable to T. Rowe Price Group	$	8.7		$	48.7		$	57.4		$	(.7	)	$	(2.8	)	$	(3.5	)
Net income (loss) attributable to redeemable non-controlling interests	(1.0		)	42.4			41.4			(.4		)	2.2			1.8
	$	7.7		$	91.1		$	98.8		$	(1.1	)	$	(.6	)	$	(1.7	)

The operating expenses of the consolidated investment products are reflected in other operating expenses. In preparing our unaudited condensed consolidated financial statements, we eliminated operating expenses of $1.5 million and $1.7 million for the three months ended March 31, 2019 and 2018, respectively, against the investment advisory and administrative fees earned from these products. The net investment income reflected in non-operating income includes dividend and interest income and realized and unrealized gains and losses on the underlying securities held by the consolidated T. Rowe Price investment products.

The table below details the impact of these consolidated investment products on the individual lines of our unaudited condensed consolidated statements of cash flows for the three months ended March 31, 2019 and 2018.



	Three months ended
	3/31/2019									3/31/2018
(in millions)	Voting interest entities			Variable interest entities			Total			Voting interest entities			Variable interest entities			Total
Net cash provided by operating activities	$	(28.7	)	$	(65.0	)	$	(93.7	)	$	(52.8	)	$	(148.2	)	$	(201.0	)
Net cash used in investing activities	(5.1		)	1.7			(3.4		)	—			(21.5		)	(21.5		)
Net cash used in financing activities	31.6			72.2			103.8			63.4			139.5			202.9
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	—			(.7		)	(.7		)	—			1.3			1.3
Net change in cash and cash equivalents during period	(2.2		)	8.2			6.0			10.6			(28.9		)	(18.3		)
Cash and cash equivalents at beginning of year	18.5			51.6			70.1			7.1			96.0			103.1
Cash and cash equivalents at end of period	$	16.3		$	59.8		$	76.1		$	17.7		$	67.1		$	84.8

The net cash provided by financing activities during the three months ended March 31, 2019 and 2018 includes $37.8 million and $25.1 million, respectively, of net subscriptions we made into the consolidated T. Rowe Price investment products, net of dividends received. These cash flows were eliminated in consolidation.

FAIR VALUE MEASUREMENTS.

We determine the fair value of investments held by consolidated T. Rowe Price investment products using the following broad levels of inputs as defined by related accounting standards:

Level 1 – quoted prices in active markets for identical securities.

Level 2 – observable inputs other than Level 1 quoted prices including, but not limited to, quoted prices for similar securities, interest rates, prepayment speeds, and credit risk. These inputs are based on market data obtained from independent sources.

Level 3 – unobservable inputs reflecting our own assumptions based on the best information available. The value of investments using Level 3 inputs is insignificant.

These levels are not necessarily an indication of the risk or liquidity associated with these investment holdings. The following table summarizes the investment holdings held by our consolidated T. Rowe Price investment products using fair value measurements determined based on the differing levels of inputs.



	3/31/2019						12/31/2018
(in millions)	Level 1			Level 2			Level 1			Level 2
Assets
Cash equivalents	$	15.3		$	—		$	19.3		$	—
Equity securities	239.9			572.6			189.6			483.5
Fixed income securities	—			961.6			—			890.2
Other investments	1.5			23.1			1.7			19.0
	$	256.7		$	1,557.3		$	210.6		$	1,392.7

Liabilities	$	(1.0	)	$	(9.7	)	$	(.8	)	$	(12.8	)

LEASES

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

LEASES

LEASES.

All of our leases are operating leases and primarily consist of real estate leases for corporate offices, data centers, and other facilities. As of March 31, 2019, the weighted-average remaining lease term on these leases is approximately seven years and the weighted-average discount rate used to measure the lease liabilities is approximately 3.5%.

Our operating lease expense for the three months ended March 31, 2019 and 2018, was $7.3 million and $8.1 million, respectively. Charges related to our operating leases that are variable and therefore not included in the measurement of the lease liabilities were $2.2 million for the three months ended March 31, 2019.

We made lease payments of $9.9 million during the three months ended March 31, 2019. Our future undiscounted cash flows related to our operating leases and the reconciliation to the operating lease liability as of March 31, 2019, are as follows:



(in millions)	3/31/2019
2019 (excluding the first quarter ended March 31, 2019)	$	21.6
2020	29.8
2021	26.7
2022	22.4
2023	19.9
Thereafter	62.9
Total future undiscounted cash flows	183.3
Less: imputed interest to be recognized in lease expense	(21.4		)
Operating lease liabilities, as reported	$	161.9

STOCKHOLDERS' EQUITY.	3 Months Ended
STOCKHOLDERS' EQUITY.	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY. Accounts payable and accrued expenses includes liabilities of $8.0 million at March 31, 2019, and $9.2 million at December 31, 2018, for common stock repurchases that settled during the first week of April 2019 and January 2019, respectively.

STOCK-BASED COMPENSATION.

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION.

STOCK OPTIONS.

The following table summarizes the status of, and changes in, our stock options during the three months ended March 31, 2019.



	Options		Weighted- average exercise price
Outstanding at December 31, 2018	11,300,393		$	69.05
Exercised	(972,655	)	$	60.26
Forfeited	(65,534	)	$	76.57
Expired	(7,807	)	$	59.07
Outstanding at March 31, 2019	10,254,397		$	69.84
Exercisable at March 31, 2019	8,272,310		$	68.24

RESTRICTED SHARES AND STOCK UNITS.

The following table summarizes the status of, and changes in, our nonvested restricted shares and restricted stock units during the three months ended March 31, 2019.



	Restricted shares		Restricted stock units		Weighted-average fair value
Nonvested at December 31, 2018	136,964		6,603,920		$	87.07
Time-based grants	—		20,307		$	92.37
Vested	(400	)	(26,129	)	$	99.36
Forfeited	(4,928	)	(212,992	)	$	87.99
Nonvested at March 31, 2019	131,636		6,385,106		$	87.01

Nonvested at March 31, 2019, includes 2,400 performance-based restricted shares and 450,727 performance-based restricted stock units. These nonvested performance-based restricted shares and units include 2,400 restricted shares and 289,906 restricted stock units for which the performance period has lapsed and the performance threshold has been met.

FUTURE STOCK-BASED COMPENSATION EXPENSE.

The following table presents the compensation expense (in millions) to be recognized over the remaining vesting periods of the stock-based awards outstanding at March 31, 2019. Estimated future compensation expense will change to reflect future grants of restricted stock awards and units, future option grants, changes in the probability of performance thresholds being met, and adjustments for actual forfeitures.



(in millions)
Second quarter 2019	$	49.0
Third quarter 2019	48.9
Fourth quarter 2019	43.8
2020	104.6
2021 through 2024	83.2
Total	$	329.5

EARNINGS PER SHARE CALCULATIONS.

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE CALCULATIONS

EARNINGS PER SHARE CALCULATIONS.

The following table presents the reconciliation of net income attributable to T. Rowe Price Group to net income allocated to our common stockholders and the weighted-average shares that are used in calculating the basic and diluted earnings per share on our common stock. Weighted-average common shares outstanding assuming dilution reflects the potential dilution, determined using the treasury stock method, that could occur if outstanding stock options were exercised and non-participating stock awards vested.



	Three months ended
(in millions)	3/31/2019		3/31/2018
Net income attributable to T. Rowe Price Group	$	512.6	$	453.7
Less: net income allocated to outstanding restricted stock and stock unit holders	13.0		10.6
Net income allocated to common stockholders	$	499.6	$	443.1

Weighted-average common shares
Outstanding	236.6		244.3
Outstanding assuming dilution	239.6		249.8

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME.

3 Months Ended

Mar. 31, 2019

Stockholders' Equity Note [Abstract]

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME.

The following table presents the impact of the components of other comprehensive income or loss on deferred tax benefits (income taxes).



	Three months ended
(in millions)	3/31/2019		3/31/2018
Net deferred tax benefits (income taxes) on:
Currency translation adjustments	$	.1	$	(3.3	)
Reclassification adjustment recognized in the provision for income taxes upon deconsolidation of a T. Rowe Price investment product	—		.8
Total deferred tax benefits (income taxes) on currency translation adjustments	.1		(2.5		)

The changes in each component of accumulated other comprehensive income (loss), including reclassification adjustments for the three months ended March 31, 2019 and 2018 are presented in the table below.



				Currency translation adjustments
(in millions)				Equity method investments			Consolidated T. Rowe Price investment products - variable interest entities			Total currency translation adjustments			Total
Balances at December 31, 2018				$	(48.8	)	$	6.8		$	(42.0	)	$	(42.0	)
Other comprehensive income (loss) before reclassifications and income taxes				4.9			(4.5		)	.4			.4
Reclassification adjustments recognized in non-operating income				—			(.1		)	(.1		)	(.1		)
				4.9			(4.6		)	.3			.3
Net deferred tax benefits (income taxes)				(1.1		)	1.2			.1			.1
Other comprehensive income (loss)				3.8			(3.4		)	.4			.4
Balances at March 31, 2019				$	(45.0	)	$	3.4		$	(41.6	)	$	(41.6	)

				Currency translation adjustments
(in millions)	Net unrealized holding gains			Equity method investments			Consolidated T. Rowe Price investment products - variable interest entities			Total currency translation adjustments			Total
Balances at December 31, 2017	$	7.9		$	(30.6	)	$	19.1		$	(11.5	)	$	(3.6	)
Reclassification of unrealized holding gains to retained earnings upon adoption of new financial instruments guidance⁽¹⁾	(7.9		)	—			—			—			(7.9		)
Reclassification adjustment of stranded tax benefits on currency translation adjustments upon adoption of new accumulated other comprehensive income guidance	—			(6.4		)	4.1			(2.3		)	(2.3		)
Balance at January 1, 2018	—			(37.0		)	23.2			(13.8		)	(13.8		)
Other comprehensive income before reclassifications and income taxes	—			3.8			9.2			13.0			13.0
Reclassification adjustments recognized in non-operating income	—			—			(3.1		)	(3.1		)	(3.1		)
	—			3.8			6.1			9.9			9.9
Net deferred income taxes	—			(.8		)	(1.7		)	(2.5		)	(2.5		)
Other comprehensive income (loss)	—			3.0			4.4			7.4			7.4
Balances at March 31, 2018	$	—		$	(34.0	)	$	27.6		$	(6.4	)	$	(6.4	)

⁽¹⁾ Includes the reclassification of $1.7 million of stranded income taxes on certain investments resulting from U.S. tax law changes enacted on December 22, 2017, from accumulated other comprehensive income to retained earnings.

COMMITMENTS AND CONTINGENCIES.	3 Months Ended
COMMITMENTS AND CONTINGENCIES.	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES. On February 14, 2017, T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., T. Rowe Price Trust Company, current and former members of the management committee, and trustees of the T. Rowe Price U.S. Retirement Program were named as defendants in a lawsuit filed in the United States District Court for the District of Maryland. The lawsuit alleges breaches of ERISA’s fiduciary duty and prohibited transaction provisions on behalf of a class of all participants and beneficiaries of the T. Rowe Price 401(k) Plan from February 14, 2011, to the time of judgment. The plaintiffs are seeking certification of the complaint as a class action. T. Rowe Price believes the claims are without merit and is vigorously defending the action. This matter is in the early stages of litigation and we cannot predict the eventual outcome or whether it will have a material negative impact on our financial results, or estimate the possible loss or range of loss that may arise from any negative outcome. On April 27, 2016, certain shareholders in the T. Rowe Price Blue Chip Growth Fund, T. Rowe Price Capital Appreciation Fund, T. Rowe Price Equity Income Fund, T. Rowe Price Growth Stock Fund, T. Rowe Price International Stock Fund, T. Rowe Price High Yield Fund, T. Rowe Price New Income Fund and T. Rowe Price Small Cap Stock Fund (the “Funds”) filed a Section 36(b) complaint under the caption Zoidis v. T. Rowe Price Assoc., Inc., against T. Rowe Price Associates, Inc. (“T. Rowe Price”) in the United States District Court for the Northern District of California. The complaint alleges that the management fees for the identified funds are excessive because T. Rowe Price charges lower advisory fees to subadvised clients with funds in the same strategy. The complaint seeks to recover the allegedly excessive advisory fees received by T. Rowe Price in the year preceding the start of the lawsuit, along with investments’ returns and profits. In the alternative, the complaint seeks the rescission of each fund’s investment management agreement and restitution of any allegedly excessive management fees. T. Rowe Price believes the claims are without merit and is vigorously defending the action. This matter is in the discovery phase of litigation and we cannot predict the eventual outcome or whether it will have a material negative impact on our financial results, or estimate the possible loss or range of loss that may arise from any negative outcome. In addition to the matters discussed above, various claims against us arise in the ordinary course of business, including employment-related claims. In the opinion of management, after consultation with counsel, the likelihood of an adverse determination in one or more of these pending ordinary course of business claims that would have a material adverse effect on our financial position or results of operations is remote.

THE COMPANY AND BASIS OF PREPARATION. (Policies)	3 Months Ended
THE COMPANY AND BASIS OF PREPARATION. (Policies)	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Guidance and Newly Issued But Not Yet Adopted Accounting Guidance	NEW ACCOUNTING GUIDANCE. We adopted Accounting Standards Update No. 2016-02 — Leases (Topic 842) on January 1, 2019. The update required the recognition of right-of-use lease assets and liabilities on the balance sheet and the disclosure of qualitative and quantitative information about leasing arrangements. We adopted this standard using a modified retrospective approach without restating prior comparative periods. We also elected to use certain practical expedients that allowed us to not perform the following: (1) reassess whether expired or existing non-lease contracts that commenced before January 1, 2019 contained an embedded lease, (2) reevaluate the accounting classification of our existing operating leases, and (3) determine whether initial direct costs related to existing leases should be capitalized under this guidance. On January 1, 2019, we recognized operating lease assets totaling $168.7 million and corresponding operating lease liabilities of $168.7 million related primarily to our real estate leases. At implementation, we also reclassified $27.7 million in deferred rent liabilities related to these leases reducing the recognized operating lease assets to $141.0 million. The adoption did not have a material impact on our results of operations; however, the initial recognition of our operating lease assets and operating lease liabilities on January 1, 2019, represented a noncash investing activity that affected the amount reported in other changes in assets and liabilities our unaudited condensed consolidated statements of cash flows. Our leases accounting policy is included in the Summary of Significant Accounting Policies section below. Additional information on our operating leases is included in Note 6 - Leases. NEWLY ISSUED BUT NOT YET ADOPTED ACCOUNTING GUIDANCE. In August 2018, the FASB issued Accounting Standards Update No. 2018-15 — Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This update provides additional guidance on the accounting for costs of implementation activities performed in a cloud computing arrangement that is a service contract. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Though early adoption is permitted, we expect to adopt this update on January 1, 2020. We are currently evaluating the impact this standard will have on our financial position and results of operations. We have considered all other newly issued accounting guidance that is applicable to our operations and the preparation of our unaudited condensed consolidated statements, including those we have not yet adopted. We do not believe that any such guidance has or will have a material effect on our financial position or results of operations.
Lesses	Leases We review new arrangements at inception to evaluate whether we obtain substantially all the economic benefits of and have the right to control the use of an asset. If we determine that an arrangement qualifies as a lease, we recognize a lease liability and a corresponding asset on the lease’s commencement date. The lease liability is initially measured at the present value of the future minimum lease payments over the lease term using the rate implicit in the arrangement or, if not available, our incremental borrowing rate. An operating lease asset is measured initially at the value of the lease liability but excludes any lease incentives and initial direct costs incurred. Our leases qualify as operating leases and consist primarily of real estate leases for corporate offices, data centers, and other facilities. We measure our operating lease liabilities using an estimated incremental borrowing rate as there is no rate implicit in any of our operating lease arrangements. Since we do not have any outstanding borrowings, we estimate our incremental borrowing rate based on our estimated credit rating and available market information. Additionally, certain of our leases contain options to extend or terminate the lease term that, if exercised, would result in the remeasurement of the operating lease liability. Our operating leases contain both lease and non-lease components. Non-lease components are distinct elements of a contract that are not related to securing the use of the lease assets, such as common area maintenance and other management costs. We elected for our real estate operating leases to measure the lease liability by combining the lease and non-lease components as a single lease component. As such, we included the fixed payments and any payments that depend on a rate or index that relate to our lease and non-lease components in the measurement of the operating lease liability. We recognize lease expense on a straight-line basis over the lease term. Operating lease expense is recognized as part of technology, occupancy, and facility costs in our unaudited condensed consolidated statements of income.

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Tables)

3 Months Ended

Mar. 31, 2019

Information about Receivables, Revenues, and Services [Abstract]

Components of revenues from advisory services

Revenues earned during the first quarter of 2019 and 2018 under agreements with clients include:



	Three months ended 3/31/2019								Three months ended 3/31/2018
			Administrative, distribution, and servicing fees								Administrative, distribution, and servicing fees
(in millions)	Investment advisory fees		Administrative fees		Distribution and servicing fees		Net revenues		Investment advisory fees		Administrative fees		Distribution and servicing fees		Net revenues
U.S. mutual funds	$	815.9	$	76.6	$	30.2	$	922.7	$	832.9	$	81.8	$	36.6	$	951.3
Subadvised and separate accounts and other investment products	378.3		—		—		378.3		356.3		—		—		356.3
Other clients	—		26.3		—		26.3		—		20.4		—		20.4
	$	1,194.2	$	102.9	$	30.2	$	1,327.3	$	1,189.2	$	102.2	$	36.6	$	1,328.0

The following table details the investment advisory fees earned from clients by their underlying asset class.



	Three months ended
(in millions)	3/31/2019		3/31/2018
U.S. mutual funds
Equity and blended assets	$	694.5	$	705.5
Fixed income, including money market	121.4		127.4
	815.9		832.9
Subadvised and separate accounts and other investment products
Equity and blended assets	318.8		297.0
Fixed income, including money market	59.5		59.3
	378.3		356.3
Total	$	1,194.2	$	1,189.2

Components of assets under management

The following table summarizes the assets under management on which we earn investment advisory fees.



	Average during
	Three months ended				As of
(in billions)	3/31/2019		3/31/2018		3/31/2019		12/31/2018
U.S. mutual funds
Equity and blended assets	$	487.6	$	494.6	$	506.6	$	441.1
Fixed income, including money market	122.5		127.4		124.1		123.4
	610.1		622.0		630.7		564.5
Subadvised and separate accounts and other investment products
Equity and blended assets	332.9		308.2		347.9		299.2
Fixed income, including money market	100.5		95.3		103.1		98.6
	433.4		403.5		451.0		397.8
Total	$	1,043.5	$	1,025.5	$	1,081.7	$	962.3

INVESTMENTS. (Tables)

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Unconsolidated investments

The carrying values of our investments that are not part of the consolidated T. Rowe Price investment products are as follows:



(in millions)	3/31/2019		12/31/2018
Investments held at fair value
T. Rowe Price investment products	$	1,542.4	$	1,538.4
T. Rowe Price investment products designated as an economic hedge of supplemental savings plan liability	429.2		381.3
Investment partnerships and other investments	99.1		99.6
Equity method investments
T. Rowe Price investment products	308.7		276.2
26% interest in UTI Asset Management Company Limited (India)	161.3		152.4
Investment partnerships and other investments	5.0		4.5
U.S. Treasury note	1.0		1.0
Total	$	2,546.7	$	2,453.4

Net impact of deconsolidation and consolidation on condensed consolidated balance sheets and income statements

The net impact of these changes on our unaudited condensed consolidated balance sheets and statements of income as of the dates the portfolios were deconsolidated or reconsolidated is detailed below.



	Three months ended
(in millions)	3/31/2019			3/31/2018
Net increase (decrease) in assets of consolidated T. Rowe Price investment products	$	12.3		$	(757.5	)
Net decrease in liabilities of consolidated T. Rowe Price investment products	$	(.9	)	$	(5.2	)
Net increase (decrease) in redeemable non-controlling interests	$	20.4		$	(632.9	)

Gains recognized upon deconsolidation	$	.1		$	3.1

Maximum risk of loss related to investments in variable interest entities



(in millions)	3/31/2019		12/31/2018
Investment carrying values	$	141.1	$	143.3
Unfunded capital commitments	24.0		27.3
Uncollected investment advisory and administrative fees	8.1		5.2
	$	173.2	$	175.8

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

FAIR VALUE MEASUREMENTS. (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair value measurements summary

The following table summarizes our investments that are recognized in our unaudited condensed consolidated balance sheets using fair value measurements determined based on the differing levels of inputs. This table excludes investments held by the consolidated T. Rowe Price investment products which are presented separately on our unaudited condensed consolidated balance sheets and are detailed in Note 5.



	3/31/2019				12/31/2018
(in millions)	Level 1		Level 2		Level 1		Level 2
Cash equivalents held in T. Rowe Price money market funds	$	1,398.3	$	—	$	1,196.0	$	—
T. Rowe Price investment products	1,964.1		7.5		1,900.5		19.2
Total	$	3,362.4	$	7.5	$	3,096.5	$	19.2

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS. (Tables)

3 Months Ended

Mar. 31, 2019

Consolidated Sponsored Investment Portfolios [Abstract]

Net assets of consolidated sponsored investment portfolios

The following table details the net assets of the consolidated T. Rowe Price investment products:



	3/31/2019						12/31/2018
(in millions)	Voting interest entities		Variable interest entities		Total		Voting interest entities		Variable interest entities		Total
Cash and cash equivalents⁽¹⁾	$	16.3	$	59.8	$	76.1	$	18.5	$	51.6	$	70.1
Investments⁽²⁾	289.7		1,509.0		1,798.7		261.3		1,322.7		1,584.0
Other assets	9.7		51.8		61.5		8.0		18.3		26.3
Total assets	315.7		1,620.6		1,936.3		287.8		1,392.6		1,680.4
Liabilities	23.6		41.1		64.7		16.0		22.7		38.7
Net assets	$	292.1	$	1,579.5	$	1,871.6	$	271.8	$	1,369.9	$	1,641.7

Attributable to T. Rowe Price Group	$	199.8	$	785.1	$	984.9	$	175.3	$	726.1	$	901.4
Attributable to redeemable non-controlling interests	92.3		794.4		886.7		96.5		643.8		740.3
	$	292.1	$	1,579.5	$	1,871.6	$	271.8	$	1,369.9	$	1,641.7

⁽¹⁾Cash and cash equivalents includes $15.3 million and $18.5 million at March 31, 2019 and December 31, 2018, respectively, of T. Rowe Price money market mutual funds.

⁽²⁾Investments includes $42.1 million and $43.8 million at March 31, 2019 and December 31, 2018, respectively, of T. Rowe Price investment products.

Operating results of consolidated sponsored investment portfolios



	Three months ended
	3/31/2019									3/31/2018
(in millions)	Voting interest entities			Variable interest entities			Total			Voting interest entities			Variable interest entities			Total
Operating expenses reflected in net operating income	$	(.3	)	$	(2.8	)	$	(3.1	)	$	(.3	)	$	(2.2	)	$	(2.5	)
Net investment income (loss) reflected in non-operating income	8.0			93.9			101.9			(.8		)	1.6			.8
Impact on income before taxes	$	7.7		$	91.1		$	98.8		$	(1.1	)	$	(.6	)	$	(1.7	)

Net income (loss) attributable to T. Rowe Price Group	$	8.7		$	48.7		$	57.4		$	(.7	)	$	(2.8	)	$	(3.5	)
Net income (loss) attributable to redeemable non-controlling interests	(1.0		)	42.4			41.4			(.4		)	2.2			1.8
	$	7.7		$	91.1		$	98.8		$	(1.1	)	$	(.6	)	$	(1.7	)

Cash flows of consolidated sponsored investment portfolios



	Three months ended
	3/31/2019									3/31/2018
(in millions)	Voting interest entities			Variable interest entities			Total			Voting interest entities			Variable interest entities			Total
Net cash provided by operating activities	$	(28.7	)	$	(65.0	)	$	(93.7	)	$	(52.8	)	$	(148.2	)	$	(201.0	)
Net cash used in investing activities	(5.1		)	1.7			(3.4		)	—			(21.5		)	(21.5		)
Net cash used in financing activities	31.6			72.2			103.8			63.4			139.5			202.9
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	—			(.7		)	(.7		)	—			1.3			1.3
Net change in cash and cash equivalents during period	(2.2		)	8.2			6.0			10.6			(28.9		)	(18.3		)
Cash and cash equivalents at beginning of year	18.5			51.6			70.1			7.1			96.0			103.1
Cash and cash equivalents at end of period	$	16.3		$	59.8		$	76.1		$	17.7		$	67.1		$	84.8

Fair values of investments held by consolidated sponsored investment portfolios

The following table summarizes the investment holdings held by our consolidated T. Rowe Price investment products using fair value measurements determined based on the differing levels of inputs.



	3/31/2019						12/31/2018
(in millions)	Level 1			Level 2			Level 1			Level 2
Assets
Cash equivalents	$	15.3		$	—		$	19.3		$	—
Equity securities	239.9			572.6			189.6			483.5
Fixed income securities	—			961.6			—			890.2
Other investments	1.5			23.1			1.7			19.0
	$	256.7		$	1,557.3		$	210.6		$	1,392.7

Liabilities	$	(1.0	)	$	(9.7	)	$	(.8	)	$	(12.8	)

LEASES (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Schedule of future minimum lease payments

Our future undiscounted cash flows related to our operating leases and the reconciliation to the operating lease liability as of March 31, 2019, are as follows:



(in millions)	3/31/2019
2019 (excluding the first quarter ended March 31, 2019)	$	21.6
2020	29.8
2021	26.7
2022	22.4
2023	19.9
Thereafter	62.9
Total future undiscounted cash flows	183.3
Less: imputed interest to be recognized in lease expense	(21.4		)
Operating lease liabilities, as reported	$	161.9

STOCK-BASED COMPENSATION. (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Rollforward of stock options

The following table summarizes the status of, and changes in, our stock options during the three months ended March 31, 2019.



	Options		Weighted- average exercise price
Outstanding at December 31, 2018	11,300,393		$	69.05
Exercised	(972,655	)	$	60.26
Forfeited	(65,534	)	$	76.57
Expired	(7,807	)	$	59.07
Outstanding at March 31, 2019	10,254,397		$	69.84
Exercisable at March 31, 2019	8,272,310		$	68.24

Rollforward of nonvested restricted shares and restricted stock units

The following table summarizes the status of, and changes in, our nonvested restricted shares and restricted stock units during the three months ended March 31, 2019.



	Restricted shares		Restricted stock units		Weighted-average fair value
Nonvested at December 31, 2018	136,964		6,603,920		$	87.07
Time-based grants	—		20,307		$	92.37
Vested	(400	)	(26,129	)	$	99.36
Forfeited	(4,928	)	(212,992	)	$	87.99
Nonvested at March 31, 2019	131,636		6,385,106		$	87.01

Future stock-based compensation expense



(in millions)
Second quarter 2019	$	49.0
Third quarter 2019	48.9
Fourth quarter 2019	43.8
2020	104.6
2021 through 2024	83.2
Total	$	329.5

EARNINGS PER SHARE CALCULATIONS. (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings per share reconciliation



	Three months ended
(in millions)	3/31/2019		3/31/2018
Net income attributable to T. Rowe Price Group	$	512.6	$	453.7
Less: net income allocated to outstanding restricted stock and stock unit holders	13.0		10.6
Net income allocated to common stockholders	$	499.6	$	443.1

Weighted-average common shares
Outstanding	236.6		244.3
Outstanding assuming dilution	239.6		249.8

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME. (Tables)

3 Months Ended

Mar. 31, 2019

Stockholders' Equity Note [Abstract]

Impact of the components of other comprehensive income (loss) on deferred tax benefits (income taxes)

The following table presents the impact of the components of other comprehensive income or loss on deferred tax benefits (income taxes).



	Three months ended
(in millions)	3/31/2019		3/31/2018
Net deferred tax benefits (income taxes) on:
Currency translation adjustments	$	.1	$	(3.3	)
Reclassification adjustment recognized in the provision for income taxes upon deconsolidation of a T. Rowe Price investment product	—		.8
Total deferred tax benefits (income taxes) on currency translation adjustments	.1		(2.5		)

Changes in accumulated other comprehensive income



				Currency translation adjustments
(in millions)				Equity method investments			Consolidated T. Rowe Price investment products - variable interest entities			Total currency translation adjustments			Total
Balances at December 31, 2018				$	(48.8	)	$	6.8		$	(42.0	)	$	(42.0	)
Other comprehensive income (loss) before reclassifications and income taxes				4.9			(4.5		)	.4			.4
Reclassification adjustments recognized in non-operating income				—			(.1		)	(.1		)	(.1		)
				4.9			(4.6		)	.3			.3
Net deferred tax benefits (income taxes)				(1.1		)	1.2			.1			.1
Other comprehensive income (loss)				3.8			(3.4		)	.4			.4
Balances at March 31, 2019				$	(45.0	)	$	3.4		$	(41.6	)	$	(41.6	)

				Currency translation adjustments
(in millions)	Net unrealized holding gains			Equity method investments			Consolidated T. Rowe Price investment products - variable interest entities			Total currency translation adjustments			Total
Balances at December 31, 2017	$	7.9		$	(30.6	)	$	19.1		$	(11.5	)	$	(3.6	)
Reclassification of unrealized holding gains to retained earnings upon adoption of new financial instruments guidance⁽¹⁾	(7.9		)	—			—			—			(7.9		)
Reclassification adjustment of stranded tax benefits on currency translation adjustments upon adoption of new accumulated other comprehensive income guidance	—			(6.4		)	4.1			(2.3		)	(2.3		)
Balance at January 1, 2018	—			(37.0		)	23.2			(13.8		)	(13.8		)
Other comprehensive income before reclassifications and income taxes	—			3.8			9.2			13.0			13.0
Reclassification adjustments recognized in non-operating income	—			—			(3.1		)	(3.1		)	(3.1		)
	—			3.8			6.1			9.9			9.9
Net deferred income taxes	—			(.8		)	(1.7		)	(2.5		)	(2.5		)
Other comprehensive income (loss)	—			3.0			4.4			7.4			7.4
Balances at March 31, 2018	$	—		$	(34.0	)	$	27.6		$	(6.4	)	$	(6.4	)

THE COMPANY AND BASIS OF PREPARATION. (Details) - USD ($) $ in Millions	Mar. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities	$ 161.9
Operating lease assets	$ 127.2
ASU 2016-02 - Leases [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets, including deferred rent liabilities reclassified		$ 168.7
Operating lease liabilities		168.7
Operating lease assets		141.0
Deferred rent liabilities		$ 27.7

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Investment Advisory Services) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Revenue and Services [Line Items]
Net revenues	$ 1,327.3	$ 1,328.0
Average assets under management	1,043,500.0	1,025,500.0
Period end assets under management	1,081,700.0		$ 962,300.0
U.S. mutual funds [Member]
Revenue and Services [Line Items]
Net revenues	922.7	951.3
Average assets under management	610,100.0	622,000.0
Period end assets under management	630,700.0		564,500.0
U.S. mutual funds [Member] \| Equity and blended asset [Member]
Revenue and Services [Line Items]
Average assets under management	487,600.0	494,600.0
Period end assets under management	506,600.0		441,100.0
U.S. mutual funds [Member] \| Fixed income, including money market [Member]
Revenue and Services [Line Items]
Average assets under management	122,500.0	127,400.0
Period end assets under management	124,100.0		123,400.0
Subadvised and separate accounts and other investment products [Member]
Revenue and Services [Line Items]
Net revenues	378.3	356.3
Average assets under management	433,400.0	403,500.0
Period end assets under management	451,000.0		397,800.0
Subadvised and separate accounts and other investment products [Member] \| Equity and blended asset [Member]
Revenue and Services [Line Items]
Average assets under management	332,900.0	308,200.0
Period end assets under management	347,900.0		299,200.0
Subadvised and separate accounts and other investment products [Member] \| Fixed income, including money market [Member]
Revenue and Services [Line Items]
Average assets under management	100,500.0	95,300.0
Period end assets under management	103,100.0		$ 98,600.0
Other [Member]
Revenue and Services [Line Items]
Net revenues	26.3	20.4
Investment advisory fees [Member]
Revenue and Services [Line Items]
Net revenues	1,194.2	1,189.2
Investment advisory fees [Member] \| U.S. mutual funds [Member]
Revenue and Services [Line Items]
Net revenues	815.9	832.9
Investment advisory fees [Member] \| U.S. mutual funds [Member] \| Equity and blended asset [Member]
Revenue and Services [Line Items]
Net revenues	694.5	705.5
Investment advisory fees [Member] \| U.S. mutual funds [Member] \| Fixed income, including money market [Member]
Revenue and Services [Line Items]
Net revenues	121.4	127.4
Investment advisory fees [Member] \| Subadvised and separate accounts and other investment products [Member]
Revenue and Services [Line Items]
Net revenues	378.3	356.3
Investment advisory fees [Member] \| Subadvised and separate accounts and other investment products [Member] \| Equity and blended asset [Member]
Revenue and Services [Line Items]
Net revenues	318.8	297.0
Investment advisory fees [Member] \| Subadvised and separate accounts and other investment products [Member] \| Fixed income, including money market [Member]
Revenue and Services [Line Items]
Net revenues	59.5	59.3
Investment advisory fees [Member] \| Other [Member]
Revenue and Services [Line Items]
Net revenues	0.0	0.0
Administrative service [Member]
Revenue and Services [Line Items]
Net revenues	102.9	102.2
Administrative service [Member] \| U.S. mutual funds [Member]
Revenue and Services [Line Items]
Net revenues	76.6	81.8
Administrative service [Member] \| Subadvised and separate accounts and other investment products [Member]
Revenue and Services [Line Items]
Net revenues		0.0
Administrative service [Member] \| Other [Member]
Revenue and Services [Line Items]
Net revenues	26.3	20.4
Distribution and servicing fees [Member]
Revenue and Services [Line Items]
Net revenues	30.2	36.6
Distribution and servicing fees [Member] \| U.S. mutual funds [Member]
Revenue and Services [Line Items]
Net revenues	30.2	36.6
Distribution and servicing fees [Member] \| Subadvised and separate accounts and other investment products [Member]
Revenue and Services [Line Items]
Net revenues		0.0
Distribution and servicing fees [Member] \| Other [Member]
Revenue and Services [Line Items]
Net revenues	$ 0.0	$ 0.0

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Services Concentration and Receivables) (Details) - USD ($) $ in Millions			3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Concentration Risk [Line Items]
Net revenues			$ 1,327.3	$ 1,328.0
Accounts receivable	$ 604.6	$ 549.6	604.6
T. Rowe Price investment products [Member]
Concentration Risk [Line Items]
Net revenues			1,093.4	$ 1,100.6
Accounts receivable	$ 391.3	$ 354.8	$ 391.3
Outside U.S. [Member] \| Assets under management [Member] \| Investment advisory clients [Member] \| Geographic concentration [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	6.40%	6.20%

INVESTMENTS. (Investments) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Investment [Line Items]
U.S. Treasury note	$ 1.0		$ 1.0
Total	2,546.7		2,453.4
Net unrealized gains (losses) on T. Rowe Price investments product recognized in nonoperating income	50.6	$ (1.9)
Gains recognized upon deconsolidation	202.8	16.1
Reclassification out of accumulated other comprehensive income [Member] \| Currency translation adjustments [Member]
Investment [Line Items]
Gains recognized upon deconsolidation	0.1	3.1
Assets [Member]
Investment [Line Items]
Net increase (decrease) in assets, liabilities, and redeemable noncontrolling interest	(12.3)	757.5
Liability [Member]
Investment [Line Items]
Net increase (decrease) in assets, liabilities, and redeemable noncontrolling interest	(0.9)	(5.2)
Redeemable noncontrolling interest [Member]
Investment [Line Items]
Net increase (decrease) in assets, liabilities, and redeemable noncontrolling interest	20.4	$ (632.9)
T. Rowe Price investment products [Member]
Investment [Line Items]
Investments held at fair value	1,542.4		1,538.4
Equity method investments	308.7		276.2
T. Rowe Price investment products designated as economic hedge of supplemental savings plan liability [Member]
Investment [Line Items]
Investments held at fair value	429.2		381.3
Investment partnerships and other investments [Member]
Investment [Line Items]
Investments held at fair value	99.1		99.6
Interest in UTI Asset Management Company Limited (India) [Member]
Investment [Line Items]
Equity method investments	$ 161.3		$ 152.4
Equity method investment (ownership percentage)	26.00%		26.00%
Investment partnerships and other investments [Member]
Investment [Line Items]
Equity method investments	$ 5.0		$ 4.5

INVESTMENTS. (Variable Interest Entities) (Details) - Variable interest entity, not primary beneficiary [Member] - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Investment carrying values	$ 141.1	$ 143.3
Unfunded capital commitments	24.0	27.3
Uncollected investment advisory and administrative fees	8.1	5.2
Maximum risk of loss related to nonconsolidated variable interest entities	$ 173.2	$ 175.8

FAIR VALUE MEASUREMENTS. (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Level 1 [Member] \| Fair value, measurements, recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents held in T. Rowe Price money market funds	$ 1,398.3	$ 1,196.0
T. Rowe Price investment products	1,964.1	1,900.5
Total	3,362.4	3,096.5
Level 2 [Member] \| Fair value, measurements, recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents held in T. Rowe Price money market funds	0.0	0.0
T. Rowe Price investment products	7.5	19.2
Total	7.5	19.2
Fair value measured at NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	$ 99.1	$ 99.6

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS. (Net Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 1,657.4	$ 1,425.2
Investments	2,546.7	2,453.4
Other assets	253.8	253.7
Total assets	8,458.9	7,689.3
Liabilities	1,261.2	824.7
Attributable to redeemable non-controlling interests	886.7	740.3	$ 546.5	$ 992.8
Consolidated T. Rowe Price investment products [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Net assets	1,871.6	1,641.7
Attributable to T. Rowe Price Group	984.9	901.4
Attributable to redeemable non-controlling interests	886.7	740.3
Consolidated T. Rowe Price investment products [Member] \| Reportable entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	76.1	70.1
Investments	1,798.7	1,584.0
Other assets	61.5	26.3
Total assets	1,936.3	1,680.4
Liabilities	64.7	38.7
Net assets	1,871.6	1,641.7
Consolidated T. Rowe Price investment products [Member] \| Reportable entities [Member] \| T. Rowe Price investment products [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Investments	42.1	43.8
Voting interest entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Net assets	292.1	271.8
Attributable to T. Rowe Price Group	199.8	175.3
Attributable to redeemable non-controlling interests	92.3	96.5
Voting interest entities [Member] \| Reportable entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	16.3	18.5
Investments	289.7	261.3
Other assets	9.7	8.0
Total assets	315.7	287.8
Liabilities	23.6	16.0
Net assets	292.1	271.8
Variable interest entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Net assets	1,579.5	1,369.9
Attributable to T. Rowe Price Group	785.1	726.1
Attributable to redeemable non-controlling interests	794.4	643.8
Variable interest entities [Member] \| Reportable entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	59.8	51.6
Investments	1,509.0	1,322.7
Other assets	51.8	18.3
Total assets	1,620.6	1,392.6
Liabilities	41.1	22.7
Net assets	1,579.5	1,369.9
Money Market Funds [Member] \| Consolidated T. Rowe Price investment products [Member] \| Reportable entities [Member] \| T. Rowe Price investment products [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 15.3	$ 18.5

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS. (Operating Results) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	$ (794.8)	$ (744.2)
Income before income taxes	735.3	599.9
Net income (loss) attributable to redeemable non-controlling interests	41.4	1.8
Operating expenses eliminated against investment advisory and administrative fees	1,327.3	1,328.0
Consolidation eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	1.5	1.7
Consolidation eliminations [Member] \| Investment advisory and administrative fees
Condensed Income Statements, Captions [Line Items]
Operating expenses eliminated against investment advisory and administrative fees	1.5	1.7
Consolidated T. Rowe Price investment products [Member]
Condensed Income Statements, Captions [Line Items]
Income before income taxes	98.8	(1.7)
Net income (loss) attributable to T. Rowe Price Group	57.4	(3.5)
Net income (loss) attributable to redeemable non-controlling interests	41.4	1.8
Consolidated T. Rowe Price investment products [Member] \| Reportable entities [Member]
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(3.1)	(2.5)
Net investment income (loss) reflected in non-operating income	101.9	0.8
Income before income taxes	98.8	(1.7)
Voting interest entities [Member]
Condensed Income Statements, Captions [Line Items]
Income before income taxes	7.7	(1.1)
Net income (loss) attributable to T. Rowe Price Group	8.7	(0.7)
Net income (loss) attributable to redeemable non-controlling interests	(1.0)	(0.4)
Voting interest entities [Member] \| Reportable entities [Member]
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(0.3)	(0.3)
Net investment income (loss) reflected in non-operating income	8.0	(0.8)
Income before income taxes	7.7	(1.1)
Variable interest entities [Member]
Condensed Income Statements, Captions [Line Items]
Income before income taxes	91.1	(0.6)
Net income (loss) attributable to T. Rowe Price Group	48.7	(2.8)
Net income (loss) attributable to redeemable non-controlling interests	42.4	2.2
Variable interest entities [Member] \| Reportable entities [Member]
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(2.8)	(2.2)
Net investment income (loss) reflected in non-operating income	93.9	1.6
Income before income taxes	$ 91.1	$ (0.6)

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS. (Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	$ 578.7	$ 521.0
Net cash used in investing activities	(33.8)	(519.8)
Net cash used in financing activities	(306.0)	(242.1)
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	(0.7)	1.3
Net change in cash and cash equivalents during period	238.2	(239.6)
Cash and cash equivalents at beginning of period	1,495.3	2,005.8
Cash and cash equivalents at end of period	1,733.5	1,766.2
Consolidation eliminations [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash used in financing activities	(37.8)	(25.1)
Consolidated T. Rowe Price investment products [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Cash and cash equivalents at beginning of period	70.1	103.1
Cash and cash equivalents at end of period	76.1	84.8
Consolidated T. Rowe Price investment products [Member] \| Reportable entities [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	(93.7)	(201.0)
Net cash used in investing activities	(3.4)	(21.5)
Net cash used in financing activities	103.8	202.9
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	(0.7)	1.3
Net change in cash and cash equivalents during period	6.0	(18.3)
Cash and cash equivalents at beginning of period	103.1	70.1
Cash and cash equivalents at end of period	84.8	76.1
Voting interest entities [Member] \| Reportable entities [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	(28.7)	(52.8)
Net cash used in investing activities	(5.1)	0.0
Net cash used in financing activities	31.6	63.4
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	0.0	0.0
Net change in cash and cash equivalents during period	(2.2)	10.6
Cash and cash equivalents at beginning of period	7.1	18.5
Cash and cash equivalents at end of period	17.7	16.3
Variable interest entities [Member] \| Reportable entities [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	(65.0)	(148.2)
Net cash used in investing activities	1.7	(21.5)
Net cash used in financing activities	72.2	139.5
Effect of exchange rate changes on cash and cash equivalents of consolidated T. Rowe Price investment products	(0.7)	1.3
Net change in cash and cash equivalents during period	8.2	(28.9)
Cash and cash equivalents at beginning of period	96.0	51.6
Cash and cash equivalents at end of period	$ 67.1	$ 59.8

CONSOLIDATED T. ROWE PRICE INVESTMENT PRODUCTS. (Fair Value Measurements) (Details) - Fair value, measurements, recurring [Member] - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 1,398.3	$ 1,196.0
Total	3,362.4	3,096.5
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0.0	0.0
Total	7.5	19.2
Consolidated T. Rowe Price investment products [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	15.3	19.3
Total	256.7	210.6
Liabilities	(1.0)	(0.8)
Consolidated T. Rowe Price investment products [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0.0	0.0
Total	1,557.3	1,392.7
Liabilities	(9.7)	(12.8)
Consolidated T. Rowe Price investment products [Member] \| Equity securities [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	239.9	189.6
Consolidated T. Rowe Price investment products [Member] \| Equity securities [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	572.6	483.5
Consolidated T. Rowe Price investment products [Member] \| Fixed income securities [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Consolidated T. Rowe Price investment products [Member] \| Fixed income securities [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	961.6	890.2
Consolidated T. Rowe Price investment products [Member] \| Other investments [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1.5	1.7
Consolidated T. Rowe Price investment products [Member] \| Other investments [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 23.1	$ 19.0

LEASES (Additional Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Leases [Abstract]
Weighted-average remaining lease term on operating leases	7 years
Weighted-average discount rate on operating leases	3.50%
Operating lease expense	$ 7.3	$ 8.1
Variable charges related to operating leases not included in measurement of lease liability	2.2
Cash paid included in measurement of operating lease liabilities	$ 9.9

LEASES (Schedule of future minimum lease payments) (Details) $ in Millions	Mar. 31, 2019 USD ($)
Leases [Abstract]
2019 (excluding the first quarter ended March 31, 2019)	$ 21.6
2020	29.8
2021	26.7
2022	22.4
2023	19.9
Thereafter	62.9
Total future undiscounted cash flows	183.3
Less: imputed interest to be recognized in lease expense	(21.4)
Operating lease liabilities, as reported	$ 161.9

STOCKHOLDERS' EQUITY. (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Unsettled common stock repurchases liability	$ 8.0	$ 9.2

STOCK-BASED COMPENSATION. (Stock Options) (Details)	3 Months Ended
STOCK-BASED COMPENSATION. (Stock Options) (Details)	Mar. 31, 2019 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at December 31, 2018 (in shares) \| shares	11,300,393
Exercised (in shares) \| shares	(972,655)
Forfeited (in shares) \| shares	(65,534)
Expired (in shares) \| shares	(7,807)
Outstanding at March 31, 2019 (in shares) \| shares	10,254,397
Exercisable at March 31, 2019 (in shares) \| shares	8,272,310
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted-average exercise price of options outstanding at December 31, 2018 (in dollars per share) \| $ / shares	$ 69.05
Weighted-average exercise price of options exercised (in dollars per share) \| $ / shares	60.26
Weighted-average exercise price of options forfeited (in dollars per share) \| $ / shares	76.57
Weighted-average exercise price of options expired (in dollars per share) \| $ / shares	59.07
Weighted-average exercise price of options outstanding at March 31, 2019 (in dollars per share) \| $ / shares	69.84
Weighted-average exercise price of options exercisable at March 31, 2019 (in dollars per share) \| $ / shares	$ 68.24

STOCK-BASED COMPENSATION. (Restricted Shares and Stock Units) (Details)	3 Months Ended
	Mar. 31, 2019 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-average fair value of nonvested restricted shares and restricted stock units at December 31, 2018 (in dollars per share) \| $ / shares	$ 87.07
Weighted-average fair value of restricted shares and restricted stock units vested (in dollars per share) \| $ / shares	99.36
Weighted-average fair value of restricted shares and restricted stock units forfeited (in dollars per share) \| $ / shares	87.99
Weighted-average fair value of nonvested restricted shares and restricted stock units at March 31, 2019 (in dollars per share) \| $ / shares	87.01
Time-based [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-average fair value of restricted shares and restricted stock units granted (in dollars per share) \| $ / shares	$ 92.37
Restricted shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at December 31, 2018 (in shares)	136,964
Vested (in shares)	(400)
Forfeited (in shares)	(4,928)
Nonvested at March 31, 2019 (in shares)	131,636
Restricted shares [Member] \| Time-based [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Grants (in shares)	0
Restricted shares [Member] \| Performance-based [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at March 31, 2019 (in shares)	2,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested shares where performance threshold has been met (in shares)	2,400
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at December 31, 2018 (in shares)	6,603,920
Vested (in shares)	(26,129)
Forfeited (in shares)	(212,992)
Nonvested at March 31, 2019 (in shares)	6,385,106
Restricted stock units [Member] \| Time-based [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Grants (in shares)	20,307
Restricted stock units [Member] \| Performance-based [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at March 31, 2019 (in shares)	450,727
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested shares where performance threshold has been met (in shares)	289,906

STOCK-BASED COMPENSATION. (Future Stock-Based Compensation Expense) (Details) $ in Millions	Mar. 31, 2019 USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Second quarter 2019	$ 49.0
Third quarter 2019	48.9
Fourth quarter 2019	43.8
2020	104.6
2021 through 2024	83.2
Total	$ 329.5

EARNINGS PER SHARE CALCULATIONS. (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net income attributable to T. Rowe Price Group	$ 512.6	$ 453.7
Less: net income allocated to outstanding restricted stock and stock unit holders (basic)	13.0	10.6
Less: net income allocated to outstanding restricted stock and stock unit holders (diluted)	13.0	10.6
Net income allocated to common stockholders (basic)	499.6	443.1
Net income allocated to common stockholders (diluted)	$ 499.6	$ 443.1
Weighted-average common shares
Outstanding (in shares)	236.6	244.3
Outstanding assuming dilution (in shares)	239.6	249.8

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME. (Deferred Tax Benefits (Income Taxes)) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Currency translation adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net deferred tax benefits (income taxes) on other comprehensive income (loss) before reclassifications	$ 0.1	$ (3.3)
Net deferred tax benefits (income taxes) on reclassifications from AOCI	0.0	0.8
Total net deferred tax benefits (income taxes)	0.1	(2.5)
Total accumulated other comprehensive income (loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total net deferred tax benefits (income taxes)	$ 0.1	$ (2.5)

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME. (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2019

Mar. 31, 2018

Dec. 31, 2017

AOCI Attributable to Parent, Net of Tax [Roll Forward]

$ 6,124.3

$ 5,824.4

$ 5,838.9

0.4

7.4

Net unrealized holding gains [Member]

6,311.0

5,901.9

AOCI Attributable to Parent, Net of Tax [Roll Forward]

7.9

Other comprehensive income (loss) before reclassifications and income taxes

0.0

0.0

Reclassification adjustments recognized in non-operating income

0.0

0.0

0.0

0.0

Currency translation adjustments [Member]

0.0

AOCI Attributable to Parent, Net of Tax [Roll Forward]

(42.0)

(11.5)

Other comprehensive income (loss) before reclassifications and income taxes

(13.8)

0.4

13.0

Reclassification adjustments recognized in non-operating income

(0.1)

(3.1)

0.3

9.9

0.1

(2.5)

0.4

7.4

Currency translation adjustments [Member] | Equity method investments [Member]

(41.6)

(6.4)

AOCI Attributable to Parent, Net of Tax [Roll Forward]

(48.8)

(30.6)

Other comprehensive income (loss) before reclassifications and income taxes

(37.0)

4.9

3.8

Reclassification adjustments recognized in non-operating income

0.0

4.9

3.8

(1.1)

(0.8)

3.8

3.0

Currency translation adjustments [Member] | Consolidated T. Rowe Price investment products - variable interest entities [Member]

(45.0)

(34.0)

AOCI Attributable to Parent, Net of Tax [Roll Forward]

6.8

19.1

Other comprehensive income (loss) before reclassifications and income taxes

23.2

(4.5)

9.2

Reclassification adjustments recognized in non-operating income

(0.1)

(3.1)

(4.6)

6.1

1.2

(1.7)

(3.4)

4.4

Total accumulated other comprehensive income (loss) [Member]

3.4

27.6

AOCI Attributable to Parent, Net of Tax [Roll Forward]

^[1]

(42.0)

(3.6)

Other comprehensive income (loss) before reclassifications and income taxes

^[1]

(13.8)

0.4

13.0

Reclassification adjustments recognized in non-operating income

(0.1)

(3.1)

0.3

9.9

0.1

(2.5)

^[1]

0.4

7.4

Retained earnings [Member]

^[1]

(41.6)

(6.4)

AOCI Attributable to Parent, Net of Tax [Roll Forward]

5,464.1

4,932.9

4,957.6