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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Net revenues $ 1,595.8 $ 1,426.7 $ 4,473.8 $ 4,149.2
Operating expenses        
Compensation and related costs 552.3 466.3 1,542.0 1,441.0
Distribution and servicing 73.5 64.5 201.2 195.3
Advertising and promotion 14.2 17.1 52.5 58.5
Product-related costs 36.8 38.0 118.0 115.6
Technology, occupancy, and facility costs 115.6 106.5 332.3 309.5
General, administrative, and other 74.5 75.2 238.0 222.6
Total operating expenses 866.9 767.6 2,484.0 2,342.5
Net operating income 728.9 659.1 1,989.8 1,806.7
Non-operating income (loss)        
Net gains on investments 84.6 32.1 100.6 194.0
Net gains on consolidated investment products 101.2 11.6 13.3 176.3
Other income (loss) 5.8 (0.7) (7.5) 0.0
Total non-operating income 191.6 43.0 106.4 370.3
Income before income taxes 920.5 702.1 2,096.2 2,177.0
Provision for income taxes 221.9 157.0 502.5 522.0
Net income 698.6 545.1 1,593.7 1,655.0
Less: net income (loss) attributable to redeemable non-controlling interests 55.4 (0.8) 4.4 69.0
Net income attributable to T. Rowe Price Group $ 643.2 $ 545.9 $ 1,589.3 $ 1,586.0
Earnings per share on common stock of T. Rowe Price Group        
Basic (in dollars per share) $ 2.75 $ 2.26 $ 6.73 $ 6.55
Diluted (in dollars per share) $ 2.73 $ 2.23 $ 6.66 $ 6.47
Investment advisory fees        
Revenues        
Net revenues $ 1,469.3 $ 1,303.4 $ 4,090.9 $ 3,767.8
Administrative, distribution, and servicing fees        
Revenues        
Net revenues $ 126.5 $ 123.3 $ 382.9 $ 381.4