Shareholders' Equity - Narrative (Details) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2024 class vote £ / shares shares	Mar. 31, 2024 USD ($) class vote quaterly_dividend $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 shares	Jun. 15, 2020 shares
Class of Stock [Line Items]
Number of classes of stock | class	2	2
Number of votes per share | vote	1	1
Quarterly conversion basis (in shares)	100.00%	100.00%
Percentage of net economic profit		20.00%
Number of quarterly cash dividends | quaterly_dividend		1
Dividends declared and paid (in dollars per share) | $ / shares		$ 0.21
Dividends declared and paid | $		$ 93.8
Requisite service period (in years)		1 year
RPCT
Class of Stock [Line Items]
Purchase of non-controlling Interest | $		$ 12.5
RPCT | Other Current Liabilities
Class of Stock [Line Items]
Purchase of non-controlling Interest | $		$ 9.0		$ 11.4
RP Holdings | Continuing Investors Partnerships
Class of Stock [Line Items]
Noncontrolling interest (as percent)	25.00%	25.00%	26.00%
Royalty Pharma plc
Class of Stock [Line Items]
Ownership percentage (as a percent)	75.00%	75.00%	74.00%
Deferred Shares
Class of Stock [Line Items]
Shares, outstanding (in shares)	388,927	388,927	376,444	384,640	371,325
Class A Ordinary Shares
Class of Stock [Line Items]
Common shares outstanding (in shares)	450,981	450,981		446,692
Stock repurchase program, authorized repurchase amount | $			$ 1,000.0
Stock repurchased during the period (in shares)		0	0
Dividends declared and paid (in dollars per share) | $ / shares		$ 0.21	$ 0.20
Class A Ordinary Shares | 2020 Equity Incentive Plan
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)						800
Class B Ordinary Shares
Class of Stock [Line Items]
Common shares outstanding (in shares)	146,456	146,456		150,743
Class R Redeemable Shares
Class of Stock [Line Items]
Common shares outstanding (in shares)	50	50		50
Shares, outstanding (in shares)	50	50
Redeemable stock, redemption price (in pound per share) | £ / shares	£ 1