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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Net revenues $ 1,954.1 $ 1,595.8 $ 5,710.2 $ 4,473.8
Operating expenses        
Compensation and related costs 564.6 552.3 1,751.9 1,542.0
Distribution and servicing 96.0 73.5 274.3 201.2
Advertising and promotion 22.1 14.2 61.4 52.5
Product and recordkeeping related costs 70.3 36.8 154.6 118.0
Technology, occupancy, and facility costs 123.1 115.6 359.7 332.3
General, administrative, and other 81.8 74.5 260.8 238.0
Total operating expenses 957.9 866.9 2,862.7 2,484.0
Net operating income 996.2 728.9 2,847.5 1,989.8
Non-operating income (loss)        
Net gains on investments 8.7 84.6 165.0 100.6
Net gains (losses) on consolidated investment products (17.1) 101.2 75.7 13.3
Other income (loss) (3.1) 5.8 (6.2) (7.5)
Total non-operating income (11.5) 191.6 234.5 106.4
Income before income taxes 984.7 920.5 3,082.0 2,096.2
Provision for income taxes 227.3 221.9 717.1 502.5
Net income 757.4 698.6 2,364.9 1,593.7
Less: net income (loss) attributable to redeemable non-controlling interests (19.8) 55.4 22.6 4.4
Net income attributable to T. Rowe Price $ 777.2 $ 643.2 $ 2,342.3 $ 1,589.3
Earnings per share on common stock of T. Rowe Price        
Basic (in dollars per share) $ 3.34 $ 2.75 $ 10.04 $ 6.73
Diluted (in dollars per share) $ 3.31 $ 2.73 $ 9.94 $ 6.66
Investment advisory fees        
Revenues        
Net revenues $ 1,813.4 $ 1,469.3 $ 5,288.4 $ 4,090.9
Administrative, distribution, and servicing fees        
Revenues        
Net revenues $ 140.7 $ 126.5 $ 421.8 $ 382.9