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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Net revenues $ 1,415.4 $ 1,395.2 $ 2,878.0 $ 2,722.5
Operating expenses        
Compensation and related costs 549.0 483.2 989.7 974.7
Distribution and servicing 62.0 64.4 127.7 130.8
Advertising and promotion 13.4 19.8 38.3 41.4
Product-related costs 39.6 33.4 81.2 77.6
Technology, occupancy, and facility costs 111.3 104.9 216.7 203.0
General, administrative, and other 86.4 74.4 163.5 147.4
Total operating expenses 861.7 780.1 1,617.1 1,574.9
Net operating income 553.7 615.1 1,260.9 1,147.6
Non-operating income (loss)        
Net gains on investments 170.6 61.8 16.0 161.9
Net gains (losses) on consolidated investment products 242.5 62.8 (87.8) 164.7
Other income (loss) 2.0 (0.1) (13.4) 0.7
Total non-operating income (loss) 415.1 124.5 (85.2) 327.3
Income before income taxes 968.8 739.6 1,175.7 1,474.9
Provision for income taxes 240.3 183.7 280.6 365.0
Net income 728.5 555.9 895.1 1,109.9
Less: net income (loss) attributable to redeemable non-controlling interests 125.5 28.4 (51.0) 69.8
Net income attributable to T. Rowe Price Group $ 603.0 $ 527.5 $ 946.1 $ 1,040.1
Earnings per share on common stock of T. Rowe Price Group        
Basic (in dollars per share) $ 2.58 $ 2.18 $ 3.99 $ 4.29
Diluted (in dollars per share) $ 2.55 $ 2.15 $ 3.95 $ 4.23
Investment advisory fees        
Revenues        
Net revenues $ 1,293.8 $ 1,270.2 $ 2,621.6 $ 2,464.4
Administrative, distribution, and servicing fees        
Revenues        
Net revenues $ 121.6 $ 125.0 $ 256.4 $ 258.1