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CONSOLIDATED INVESTMENT PRODUCTS (Tables)
 12 Months Ended
Dec. 31, 2025
Consolidated Investment Portfolios [Abstract]  
Schedule of Net Assets of Consolidated T. Rowe Price Investment Portfolios
The following table details the net assets of the consolidated investment products at December 31:
20252024
(in millions)Voting interest entitiesVariable interest entitiesTotalVoting interest entitiesVariable interest entitiesTotal
Cash and cash equivalents(1)
$3.0 $36.1 $39.1 $7.2 $55.9 $63.1 
Investments(2)
344.3 1,541.2 1,885.5 470.8 1,465.4 1,936.2 
Other assets7.6 18.8 26.4 10.4 34.3 44.7 
Total assets354.9 1,596.1 1,951.0 488.4 1,555.6 2,044.0 
Liabilities7.1 14.2 21.3 15.9 46.2 62.1 
Net assets$347.8 $1,581.9 $1,929.7 $472.5 $1,509.4 $1,981.9 
Attributable to T. Rowe Price Group$269.8 $623.9 $893.7 $348.5 $689.4 $1,037.9 
Attributable to redeemable non-controlling interests78.0 958.0 1,036.0 124.0 820.0 944.0 
$347.8 $1,581.9 $1,929.7 $472.5 $1,509.4 $1,981.9 
(1) Cash and cash equivalents includes $2.5 million at December 31, 2025 and $4.9 million at December 31, 2024 of investments in
T. Rowe Price money market mutual funds.
(2) Investments include $61.7 million at December 31, 2025 and $9.3 million at December 31, 2024 of other T. Rowe Price investment products.
Schedule of Operating Results of Consolidated T. Rowe Price Investment Portfolios
The operating results of the consolidated investment products are reflected in our consolidated statements of income for the year ended December 31 as follows:
202520242023
(in millions)Voting interest entitiesVariable interest entitiesTotalVoting interest entitiesVariable interest entitiesTotalVoting interest entitiesVariable interest entitiesTotal
Operating expenses reflected in net operating income$(0.6)$(9.2)$(9.8)$(2.4)$(7.4)$(9.8)$(3.7)$(7.4)$(11.1)
Net investment income (loss) reflected in non-operating income (loss)30.9 189.0 219.9 41.7 88.6 130.3 52.4 112.2 164.6 
Impact on income before taxes$30.3 $179.8 $210.1 $39.3 $81.2 $120.5 $48.7 $104.8 $153.5 
Net income (loss) attributable to T. Rowe Price Group$22.7 $66.2 $88.9 $31.4 $53.4 $84.8 $40.9 $65.6 $106.5 
Net income (loss) attributable to redeemable non-controlling interests7.6 113.6 121.2 7.9 27.8 35.7 7.8 39.2 47.0 
$30.3 $179.8 $210.1 $39.3 $81.2 $120.5 $48.7 $104.8 $153.5 
Schedule of Cash flows of Consolidated T. Rowe Price Investment Portfolios
The following table details the impact of these consolidated investment products on the individual lines of our consolidated statements of cash flows.
202520242023
(in millions)Voting interest entitiesVariable interest entitiesTotalVoting interest entitiesVariable interest entitiesTotalVoting interest entitiesVariable interest entitiesTotal
Net cash provided by (used in) operating activities$(370.5)$(426.8)$(797.3)$(239.4)$(394.4)$(633.8)$(517.5)$(371.4)$(888.9)
Net cash provided by (used in) investing activities0.6 (63.7)(63.1)(14.7)(1.1)(15.8)(32.7)(24.1)(56.8)
Net cash provided by (used in) financing activities365.7 472.6 838.3 235.6 402.3 637.9 559.7 343.7 903.4 
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products— (1.9)(1.9)— (2.4)(2.4)— 0.4 0.4 
Net change in cash and cash equivalents during period(4.2)(19.8)(24.0)(18.5)4.4 (14.1)9.5 (51.4)(41.9)
Cash and cash equivalents at beginning of year7.2 55.9 63.1 25.7 51.5 77.2 16.2 102.9 119.1 
Cash and cash equivalents at end of year$3.0 $36.1 $39.1 $7.2 $55.9 $63.1 $25.7 $51.5 $77.2 
Schedule of Fair Values of Investments Held by Consolidated T. Rowe Price Investment Portfolios The following table summarizes the investment holdings held by our consolidated investment products using fair value measurements determined based on the differing levels of inputs as of December 31.
20252024
(in millions)
Level 1
Level 2
Level 1
Level 2
Assets
Cash equivalents$2.8 $— $6.3 $— 
Equity securities475.2 376.5 452.3 285.4 
Fixed income securities— 1,002.5 — 1,173.5 
Other investments0.4 30.9 1.6 23.4 
$478.4 $1,409.9 $460.2 $1,482.3 
Liabilities$(0.3)$(5.1)$(1.7)$(14.5)