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INVESTMENTS (Tables)
3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Unconsolidated Investments
The carrying values of our investments that are not part of the consolidated T. Rowe Price investment products are as follows:
(in millions)3/31/202212/31/2021
Investments held at fair value
T. Rowe Price investment products
Discretionary investments$502.2 $518.7 
Seed capital224.6 264.8 
Supplemental savings plan liability economic hedges820.0 881.5 
Investment partnerships and other investments105.0 108.9 
Investments in affiliated collateralized loan obligations9.310.8
Equity method investments
T. Rowe Price investment products - seed capital134.0 141.7 
Investments in affiliated private investment funds - carried interest642.1609.8
Investments in affiliated private investment funds - seed/co-investment153.1151.3
23% Investment in UTI Asset Management Company Limited (India)
170.3 165.4 
Other investment partnerships and investments2.5 2.5 
Held to maturity
Investments in affiliated collateralized loan obligations115.2119.1
 U.S. Treasury note1.0 1.0 
Total$2,879.3 $2,975.5 
Schedule of Net Impact of Deconsolidation and Consolidation on Condensed Consolidated Balance Sheets and Income Statements The net impact of these changes on our unaudited condensed consolidated balance sheets and statements of income as of the dates the portfolios were deconsolidated or reconsolidated is detailed below.
Three months ended
(in millions)3/31/20223/31/2021
Net increase (decrease) in assets of consolidated T. Rowe Price investment products$(97.5)$(928.1)
Net increase (decrease) in liabilities of consolidated T. Rowe Price investment products$(8.6)$(15.3)
Net increase (decrease) in redeemable non-controlling interests$(63.0)$(739.9)
Gains recognized upon deconsolidation$1.6 $2.6 
Schedule of Maximum Risk of Loss Related to Investments in Variable Interest Entities
Our investments at March 31, 2022 and December 31, 2021 include interests in variable interest entities that we do not consolidate as we are not deemed the primary beneficiary. Our maximum risk of loss related to our involvement with these entities is as follows:
(in millions)3/31/202212/31/2021
Investment carrying values$951.9 $943.3 
Unfunded capital commitments110.4 94.2 
Accounts receivable94.2 145.1 
$1,156.5 $1,182.6 
Schedule of Total Assets, Liabilities And Non-controlling Interests of Consolidated Variable Interest Entities
The total assets, liabilities and non-controlling interests of these consolidated variable interest entities are as follows:

(in millions)3/31/202212/31/2021
Assets$695.4 $692.7 
Liabilities$1.1 $56.4 
Non-controlling interest$272.2 $248.7