View Filing Data

Cash and cash equivalents at end of year

^[1]

1,172.3

1,506.1

1,398.0

^[1]

$ 1,270.5

$ 1,172.3

$ 1,506.1

[1]	See note 14 for a supplemental consolidating cash flow schedule.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Cash and cash equivalents	$ 1,204.9	$ 1,172.3
Consolidated sponsored investment portfolios [Member]
Cash and cash equivalents	$ 65.6

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Millions	Total	Common stock [Member]	Additional capital in excess of par value [Member]	Retained earnings [Member]	Accumulated other comprehensive income (loss) [Member]	Restricted shares [Member]	Restricted shares [Member] Common stock [Member]	Restricted shares [Member] Additional capital in excess of par value [Member]	Restricted stock units [Member]	Restricted stock units [Member] Common stock [Member]	Restricted stock units [Member] Additional capital in excess of par value [Member]	New accounting pronouncement, early adoption, effect [Member]	New accounting pronouncement, early adoption, effect [Member] Additional capital in excess of par value [Member]	New accounting pronouncement, early adoption, effect [Member] Retained earnings [Member]
Balances (in shares) at Dec. 31, 2013		262,073
Balances at Dec. 31, 2013	$ 4,818.1	$ 52.4	$ 894.6	$ 3,682.8	$ 188.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,229.6			1,229.6
Other comprehensive income (loss), net of tax	(51.9)				(51.9)
Dividends	(462.1)			(462.1)
Common stock-based compensation plans activity
Shares issued upon option exercises (shares)		3,679
Shares issued upon option exercises	107.1	$ 0.8	106.3
Shares issued, net of shares withheld for taxes (shares)							625			163
Shares issued, net of shares withheld for taxes						$ (12.2)	$ 0.1	$ (12.3)	$ (4.7)	$ 0.0	$ (4.7)
Forfeiture of restricted awards (shares)		(117)
Forfeiture of restricted awards	0.0	$ 0.0	0.0
Net tax benefits	53.4		53.4
Stock-based compensation expense	133.4		133.4
Restricted stock units issued as dividend equivalents	0.0		0.2	(0.2)
Common shares repurchased (shares)		(5,313)
Common shares repurchased	(415.5)	$ (1.1)	(414.4)	0.0
Balances (in shares) at Dec. 31, 2014		261,110
Balances at Dec. 31, 2014	5,395.2	$ 52.2	756.5	4,450.1	136.4
Beginning balances attributable to redeemable non-controlling interests at Dec. 31, 2013	0.0
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income attributable to redeemable non-controlling interests	0.0
Ending balances attributable to redeemable non-controlling interests at Dec. 31, 2014	0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,223.0			1,223.0
Other comprehensive income (loss), net of tax	(49.8)				(49.8)
Dividends	(1,059.0)			(1,059.0)
Common stock-based compensation plans activity
Shares issued upon option exercises (shares)		2,471
Shares issued upon option exercises	84.5	$ 0.5	84.0
Shares issued, net of shares withheld for taxes (shares)							(180)			236
Shares issued, net of shares withheld for taxes						(14.3)	$ 0.0	(14.3)	(2.0)	$ 0.0	(2.0)
Forfeiture of restricted awards (shares)		(59)
Forfeiture of restricted awards	0.0	$ 0.0	0.0
Net tax benefits	23.2		23.2
Stock-based compensation expense	149.0		149.0
Restricted stock units issued as dividend equivalents	0.0		0.2	(0.2)
Common shares repurchased (shares)		(13,109)
Common shares repurchased	(987.8)	$ (2.6)	(342.0)	(643.2)
Balances (in shares) at Dec. 31, 2015		250,469
Balances at Dec. 31, 2015	4,762.0	$ 50.1	654.6	3,970.7	86.6
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income attributable to redeemable non-controlling interests	0.0
Ending balances attributable to redeemable non-controlling interests at Dec. 31, 2015	0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adopting new accounting guidance \| Accounting standards update 2015-2 [Member]				32.5	(32.5)
Cumulative effect of adopting new accounting guidance \| Accounting standards update 2016-9, forfeiture rate component [Member]												$ 3.9	$ 12.9	$ (9.0)
Balances, Adjusted	4,765.9	$ 50.1	667.5	3,994.2	54.1
Increase (Decrease) in Temporary Equity [Roll Forward]
Reclassification of sponsored investment portfolios upon adoption of new accounting guidance on January 1, 2016 \| Accounting standards update 2015-2 [Member]	672.7
Balances attributable to redeemable non-controlling interest, adjusted	672.7
Net income	1,215.0			1,215.0
Other comprehensive income (loss), net of tax	(42.6)				(42.6)
Dividends	(541.2)			(541.2)
Shares issued upon option exercises (shares)		4,140
Shares issued upon option exercises	149.5	$ 0.8	148.7
Shares issued, net of shares withheld for taxes (shares)							(178)			409
Shares issued, net of shares withheld for taxes						$ (14.0)	$ 0.0	$ (14.0)	$ (8.7)	$ 0.1	$ (8.8)
Forfeiture of restricted awards (shares)		(61)
Forfeiture of restricted awards	0.0	$ 0.0
Stock-based compensation expense	161.6		161.6
Restricted stock units issued as dividend equivalents	0.0		0.1	(0.1)
Common shares repurchased (shares)		(9,995)
Common shares repurchased	(676.9)	$ (2.0)	(300.6)	(374.3)
Balances (in shares) at Dec. 31, 2016		244,784
Balances at Dec. 31, 2016	5,008.6	$ 49.0	$ 654.5	$ 4,293.6	$ 11.5
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income attributable to redeemable non-controlling interests	39.0
Other comprehensive loss, net of tax, attributable to reedemable non-controlling interests	(2.5)
Net subscriptions into sponsored investment portfolios	945.3
Net deconsolidations of sponsored investment portfolios	(967.3)
Ending balances attributable to redeemable non-controlling interests at Dec. 31, 2016	$ 687.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.

12 Months Ended

Dec. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.

T. Rowe Price Group derives its consolidated revenues and net income primarily from investment advisory services that its subsidiaries provide to individual and institutional investors in the sponsored T. Rowe Price U.S. mutual funds and other investment portfolios. We also provide our investment advisory clients with related administrative services, including distribution, mutual fund transfer agent, accounting and shareholder services; participant recordkeeping and transfer agent services for defined contribution retirement plans; brokerage, and trust services.

Investment advisory revenues depend largely on the total value and composition of assets under our management. Accordingly, fluctuations in financial markets and in the composition of assets under management impact our revenues and results of operations.

BASIS OF PREPARATION.

These consolidated financial statements have been prepared by our management in accordance with accounting principles generally accepted in the U.S. These principles require that we make certain estimates and assumptions. Actual results may vary from our estimates. Certain prior year amounts have been reclassified to conform to the 2016 presentation.

NEW ACCOUNTING GUIDANCE.

We implemented Accounting Standards Update No. 2015-02—Consolidation (Topic 810): Amendments to the Consolidation Analysis on January 1, 2016, which did not require the restatement of prior-year periods. In connection with the adoption of this guidance, we reevaluated all of our investments for consolidation, including our investments in sponsored investment portfolios. The adoption of the guidance resulted in sponsored investment products regulated outside the U.S. previously accounted for as voting interest entities (VOE) to be evaluated as variable interest entities (VIE) and led to the consolidation of an additional 24 portfolios that were previously accounted for as available-for-sale securities. The adoption also resulted in the consolidation of an additional eight U.S. sponsored investment portfolios that were previously accounted for as available-for-sale securities. The impact to the consolidated balance sheet upon adoption was the consolidation of $1.6 billion of assets, $21.3 million of liabilities, and $672.7 million of redeemable non-controlling interests. We also reclassified $32.5 million in accumulated other comprehensive income to retained earnings. Additional disclosures relating to consolidated voting interest entities and variable interest entities, and the impact the new accounting guidance has had on 2016, are included in Note 5.

We early adopted Accounting Standards Update No. 2016-09—Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting on July 1, 2016, which required adjustments to be reflected as of January 1, 2016. The amendments in this update change the accounting for certain aspects of stock-based compensation awards, including the accounting for income taxes upon settlement of awards, the classification of cash flows associated with awards, and the accounting for award forfeitures. Upon implementation, we reduced retained earnings by $9.0 million and increased other assets $3.9 million and additional paid-in capital $12.9 million, respectively. The $9.0 million reduction in retained earnings is related to the reversal of cumulative forfeiture estimates, net of deferred taxes, recognized as we elected to account for forfeitures of stock-based compensation awards going forward as they occur. Lastly, the guidance requires excess tax benefits from share-based compensation awards to be reported as operating activities in the consolidated statements of cash flows rather than financing activities. As permitted by the guidance, we elected to apply this guidance retrospectively and have reclassified $52.6 million and $24.1 million of excess tax benefits previously disclosed as a financing activity in the statement of cash flows for the years ended December 31, 2014, and December 31, 2015, respectively, to operating activities. In 2016, the recognition of net tax benefits on exercised options and vested restricted stock relative to the stock-based compensation expense reduced our income tax provision by $31.6 million. See Note 7 for further details on the impact this guidance had on our effective tax rate.

CONSOLIDATION.

Our consolidated financial statements include the accounts of all subsidiaries and sponsored investment portfolios in which we have a controlling interest. We are generally deemed to have a controlling interest when we own the majority of the VOE or are deemed to be the primary beneficiary of a VIE. We perform an analysis of our investments to determine if the investment entity is a VOE or VIE. Our analysis involves judgment and considers several factors, including an entity’s legal organization, capital structure, the rights of the equity investment holders, our ownership interest in the entity, and our contractual involvement with the entity. We continually review and reconsider our VIE or VOE conclusions upon the occurrence of certain events, such as changes to our ownership interest, changes to an entity’s legal structure, or amendments to governing documents. Upon consolidation of sponsored investment portfolios, the Company retains the specialized investment company accounting principles of the underlying funds. All material accounts and transactions between consolidated entities are eliminated in consolidation.

Variable interest entities

VIEs are entities that, by design: (i) lack sufficient equity to permit the entity to finance its activities independently or (ii) have equity holders that do not have the power to direct the activities of the entity that most significantly impact the entity’s economic performance, the obligation to absorb the entity’s losses, or the rights to receive the entity’s residual returns. We consolidate a VIE when we are the primary beneficiary, which is the party that has both (i) the power to direct the activities of the VIE that most significantly impact its economic performance and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the VIE that could potentially be significant. Our Luxembourg-based SICAV funds and other sponsored investment portfolios regulated outside the U.S. were determined to be VIEs.

Along with VIEs that we consolidate, we also hold variable interests in other VIEs, including several investment partnerships that are not consolidated because we are not the primary beneficiary.

Redeemable non-controlling interests

We recognize redeemable non-controlling interests for the portion of the net assets of our consolidated sponsored investment portfolios held by unrelated third-party investors as their interest is convertible to cash and other assets at their option. As such, we reflect redeemable non-controlling interests as temporary equity in our consolidated balance sheets.

Investments in sponsored money market mutual funds

We do not consider our investments in our sponsored money market funds when performing our consolidation analysis as the guidance provides a scope exception for interests in entities that are required to comply with, or operate in accordance with, requirements similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds.

CASH EQUIVALENTS.

Cash equivalents consist primarily of short-term, highly liquid investments in our sponsored money market mutual funds. The cost of these funds is equivalent to fair value.

INVESTMENTS.

Available-for-sale sponsored investment portfolios have been made for both general corporate investment purposes and to provide seed capital for newly formed funds. These investments are carried at fair value using the quoted closing net asset value, or NAV, per share of each fund as of the balance sheet date. Changes in net unrealized holding gains or losses on these investments are recognized in other comprehensive income.

We review the carrying amount of each investment on a quarterly basis and recognize an impairment charge in non-operating investment income whenever an unrealized loss is considered other than temporary. In determining whether a fund holding is other-than-temporarily impaired, we consider various factors, including the duration of time it has existed, the severity of the impairment, any subsequent changes in value, and our intent and ability to hold the fund for a period of time sufficient for an anticipated recovery in fair value. Subject to the other considerations noted above, we believe a fund holding with an unrealized loss that has persisted daily throughout the six months between quarter-ends is generally presumed to have an other-than-temporary impairment. We may also recognize an other-than-temporary impairment if particular circumstances of the underlying investment do not warrant our belief that a near-term recovery is possible.

Equity method investments consist of investments in entities, including sponsored portfolios, over which we have the ability to exercise significant influence over the operating and financial policies of the investee. The carrying values of these investments are adjusted to reflect our proportionate share of the investee's net income or loss, any unrealized gain or loss resulting from the translation of foreign-denominated financial statements into U.S. dollars, and dividends received. Our proportionate share of income or loss is included in non-operating income in our consolidated statements of income. As permitted under existing accounting guidance, we adopted a policy by which we recognize our share of UTI Asset Management Company Limited’s (UTI) earnings on a quarter lag as current financial information is not available in a timely manner. The basis difference between our carrying value and our proportionate share of UTI’s book value is primarily related to consideration paid in excess of the stepped-up basis of assets and liabilities on the date of purchase.

Cost method investments consist of investments in entities over which we do not exercise significant influence over the operating and financial policies of the investee. We evaluate our equity and cost method investments for impairment when events or changes in circumstances indicate that the carrying value of the investment exceeds its fair value, and the decline in fair value is other than temporary.

Sponsored investments portfolios held as trading include seed capital investments in mutual funds and separately managed account products. The mutual funds and the underlying investments of the separately managed account products are carried at fair value.

Investments held by our consolidated sponsored investment portfolios are considered trading securities that are carried at fair value with corresponding changes in the investments’ fair values reflected in non-operating income in our consolidated statements of income. These investments are valued in accordance with the valuation and pricing policy used to value our assets under management and further described in the Revenue Recognition section below.

CONCENTRATIONS OF RISK.

Concentration of credit risk in accounts receivable is believed to be minimal in that our clients generally have substantial assets, including those in the investment portfolios that we manage for them.

Our investments in sponsored funds and investments held as trading expose us to market risk, that is, the potential future loss of value that would result from a decline in the fair value of each investment or its underlying net assets. Our underlying holdings of our assets under management are also subject to market risk, which may arise from changes in equity prices, credit ratings, foreign currency exchange rates, and interest rates.

PROPERTY AND EQUIPMENT.

Property and equipment is stated at cost net of accumulated depreciation and amortization computed using the straight-line method. Provisions for depreciation and amortization are based on the following weighted-average estimated useful lives: computer and communications software and equipment, 3 years; buildings and improvements, 33 years; leasehold improvements, 8 years; furniture and other equipment, 7 years; and leased land, 99 years.

GOODWILL.

We evaluate the carrying amount of goodwill in our consolidated balance sheets for possible impairment on an annual basis in the third quarter of each year using a fair value approach. Our evaluations have indicated that no impairment exists.

We internally conduct, manage, and report our operations as one investment advisory business. We do not have distinct operating segments or components that separately constitute a business. Accordingly, we attribute goodwill to a single reportable business segment and reporting unit—our investment advisory business.

REVENUE RECOGNITION.

Fees for investment advisory services, which are based on a percentage of assets under management, and related administrative services that we provide to investment advisory clients, including our sponsored funds and portfolios, are recognized in the period that our services are provided.

Our assets under management are valued in accordance with a valuation and pricing policy that defines the valuation and pricing processes for each major type of investment held in our sponsored U.S. mutual funds and other client investment portfolios. Fair values used in our processes are primarily determined from quoted market prices; prices furnished by dealers who make markets in such securities; or from data provided by an independent pricing service that considers yield or price of investments of comparable quality, coupon, maturity, and type. Investments for which market prices are not readily available are not a material portion of our total assets under management.

Distribution and servicing fees earned from 12b-1 plans of the Advisor Class, R Class, and Variable Annuity II Class shares of our sponsored U.S. mutual funds are recognized in the period that they are earned, which is the same period that the related mutual funds recognize their expense. These fees are offset entirely by the distribution and servicing costs paid to third-party financial intermediaries that source the assets of these share classes.

We provide all services to the sponsored U.S. mutual funds under contracts that are subject to periodic review and approval by the funds’ Boards. Regulations require that the funds’ shareholders also approve material changes to investment advisory contracts.

Taxes billed to our clients based on our fees for services rendered are not included in revenues.

ADVERTISING.

Costs of advertising are expensed the first time that the advertising takes place.

STOCK-BASED COMPENSATION.

We maintain three stockholder-approved employee long-term incentive plans (2012 Long-Term Incentive Plan, 2004 Stock Incentive Plan, and 2001 Stock Incentive Plan, collectively the LTI Plans) and one stockholder-approved non-employee director plan (2007 Non-Employee Director Equity Plan). We believe that our stock-based compensation programs align the interests of our employees and directors with those of our common stockholders. As of December 31, 2016, a total of 14,490,787 shares were available for future grant under the 2012 Long-Term Incentive Plan and the 2007 Non-Employee Director Equity Plan.

Under our LTI Plans, we have issued restricted shares and restricted stock units to employees that settle in shares of our common stock after vesting. Vesting of these awards is based on the individual continuing to render service over an average 5.5-year graded schedule. All restricted shareholders and restricted stock unitholders receive non-forfeitable cash dividends and cash dividend equivalents, respectively, on our dividend payable date.

We grant performance-based restricted stock units to certain executive officers in which the number of restricted stock units ultimately retained is determined based on achievement of certain performance thresholds. The number of restricted stock units retained is also subject to the same time-based vesting requirement as the other restricted shares or restricted stock units described above. Cash dividends and cash dividend equivalents are accrued and paid to the holders of performance-based restricted stock units only after the performance period has lapsed and the performance thresholds have been met.

Under our LTI plans, we have granted qualified incentive and nonqualified fixed stock options with a maximum term of 10 years to employees. Vesting of our employee option grants is based on the individual continuing to render service and generally occurs over an average 5.5-year graded schedule. The exercise price of each option granted is equivalent to the market price of the common stock at the date of grant. We did not grant options to our employees in 2016.

We grant options, with a maximum term of 10 years, restricted shares, and restricted stock units to non-employee directors under the stockholder-approved 2007 Non-Employee Director Plan. These grants vest over six months to one year and, in the case of restricted stock units, are settled upon the non-employee directors’ departure from the Board. Non-employee directors holding restricted shares receive non-forfeitable dividends while restricted stock unitholders are issued non-forfeitable dividend equivalents in the form of vested stock units on our dividend payable date.

We recognize the grant-date fair value of these awards as compensation expense ratably over the awards' requisite service period. The expense recognized prior to 2016 includes an estimate of awards that will be forfeited and considers, in the case of our performance-based restricted shares and units, the probability of the performance thresholds being met. Upon implementation of the new stock-based compensation accounting guidance, we elected to account for forfeitures as they occur. Both time-based and performance-based units are valued on the grant-date using the closing market price of our common stock.

We use the Black-Scholes option-pricing model to estimate the fair value of each option grant as follows:



	Weighted-average
	2014			2015			2016
Grant-date fair value per option awarded	$	21.12		$	17.35		$	10.62
Assumptions used:
Expected life in years	7.0			7.0			6.8
Expected volatility	30		%	27		%	20		%
Dividend yield	2.2		%	2.4		%	2.5		%
Risk-free interest rate	2.2		%	1.9		%	1.6		%

Our expected life assumptions are based on the vesting period for each option grant and our historical experience with respect to the average holding period from vesting to option exercise. The assumptions for expected volatility are based on historical experience for the same periods as our expected lives. Dividend yields are based on recent historical experience and future expectations. Risk-free interest rates are set using grant-date U.S. Treasury yield curves for the same periods as our expected lives.

EARNINGS PER SHARE.

We compute our basic and diluted earnings per share under the two-class method, which considers our outstanding restricted shares and stock units, on which we pay non-forfeitable dividends as if they were a separate class of stock.

COMPREHENSIVE INCOME.

The components of comprehensive income are presented in a separate statement following our consolidated statements of income and include net income, the change in net unrealized security holding gains (losses), and the change in our currency translation adjustments. The currency translation adjustments result from translating our proportionate share of the financial statements of UTI, our equity method investment, and certain consolidated investment portfolios into U.S. dollars. Assets and liabilities are translated into U.S. dollars using year-end exchange rates, and revenues and expenses are translated using weighted-average exchange rates for the period.

The changes in accumulated balances of each component of other comprehensive income, the deferred tax impacts of each component, and information about significant items reclassified out of accumulated other comprehensive income are presented in the notes to the financial statements. The notes also indicate the line item of our consolidated statements of income to which the significant reclassifications were recognized.

CASH EQUIVALENTS.	12 Months Ended
CASH EQUIVALENTS.	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
CASH EQUIVALENTS	CASH EQUIVALENTS. Cash equivalent investments in our sponsored money market mutual funds aggregate $997.5 million at December 31, 2015, and $1,052.3 million at December 31, 2016. Dividends earned on these investments in each of the last three years were immaterial.

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

Information about Receivables, Revenues, and Services [Abstract]

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.

12 Months Ended

Dec. 31, 2016

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.

Accounts receivable from our sponsored investment portfolios, including our U.S. mutual funds, for advisory fees and advisory-related administrative services aggregate $287.1 million at December 31, 2015, and $303.1 million at December 31, 2016.

Revenues (in millions) from advisory services provided under agreements with our sponsored mutual funds and other investment clients include:



	2014		2015		2016
Sponsored U.S. mutual funds
Stock and blended asset	$	2,086.0	$	2,241.9	$	2,228.1
Bond and money market	399.8		426.0		477.3
	2,485.8		2,667.9		2,705.4
Other investment portfolios
Stock and blended asset	824.5		862.2		850.3
Bond, money market, and stable value	154.2		157.2		173.0
	978.7		1,019.4		1,023.3
Total	$	3,464.5	$	3,687.3	$	3,728.7

Other investment portfolios include advisory revenues of $313.4 million, $367.8 million, and $386.0 million for the year ended December 31, 2014, 2015, and 2016, respectively, that were earned on other sponsored investment portfolios.

We voluntarily waived $58.4 million, $47.6 million, and $10.5 million in money market related fees, including advisory fees and fund expenses, during the year ended December 31, 2014, 2015, and 2016, respectively, in order to maintain a positive yield for investors.

The following table summarizes the investment portfolios and assets under management (in billions) on which we earn advisory fees.



	Average during						As of December 31,
	2014		2015		2016		2015		2016
Sponsored U.S. mutual funds
Stock and blended asset	$	359.3	$	387.8	$	386.1	$	383.0	$	401.3
Bond and money market	101.6		105.8		109.4		104.1		112.9
	460.9		493.6		495.5		487.1		514.2
Other investment portfolios
Stock and blended asset	201.6		210.3		211.1		209.8		220.8
Bond, money market, and stable value	62.2		64.0		71.6		66.2		75.8
	263.8		274.3		282.7		276.0		296.6
Total	$	724.7	$	767.9	$	778.2	$	763.1	$	810.8

Investors that we serve are primarily domiciled in the U.S.; investment advisory clients outside the U.S. account for 4.9% and 4.7% of our assets under management at December 31, 2015 and 2016, respectively.

The following table summarizes the other fees (in millions) earned from our sponsored U.S. mutual funds.



	2014		2015		2016
Administrative fees	$	296.1	$	292.8	$	277.3
Distribution and servicing fees	$	143.6	$	151.5	$	141.7

INVESTMENTS.

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

INVESTMENTS.

The carrying values of investments (in millions) we do not consolidate at December 31 are as follows:



	2015		2016
Available-for-sale sponsored investment portfolios	$	1,612.3	$	709.0
Equity method investments
Sponsored investment portfolios	113.7		252.3
26% interest in UTI Asset Management Company Limited (India)	132.8		140.9
Investment partnerships	6.2		5.3
Sponsored investment portfolios held as trading	25.8		75.4
Cost method investments	69.4		73.6
U.S. Treasury note	1.0		1.0
Total	$	1,961.2	$	1,257.5

In connection with the adoption of the new consolidation accounting guidance on January 1, 2016, we reevaluated all of our investments for consolidation, including our investments in sponsored investment portfolios. We determined that our interests in a number of our available-for-sale holdings held at December 31, 2015, were deemed controlling interests under the new accounting standard and resulted in these sponsored investment portfolios being consolidated on January 1, 2016.

During 2015 and 2016, certain sponsored investment portfolios in which we provided initial seed capital at the time of formation were deconsolidated, as we no longer had a controlling interest. The impact of deconsolidating certain sponsored investment portfolios on our consolidated statements of income during 2015 and 2016 was a loss of $5.8 million and a gain of $2.2 million, respectively. These losses and gains were the result of reclassifying currency translation adjustments accumulated on sponsored investment portfolios’ with non-USD functional currencies from accumulated other comprehensive income to non-operating income. Depending on our ownership interest, we are now reporting our residual interests of $338.2 million, which is value on the date of deconsolidation or consolidation, in these sponsored investment portfolios as either equity method or available-for-sale investments.

AVAILABLE-FOR-SALE SPONSORED INVESTMENT PORTFOLIOS.

The available-for-sale sponsored investment portfolios (in millions) include:



	Aggregate cost		Unrealized holding					Aggregate fair value
	Aggregate cost		gains		losses			Aggregate fair value
December 31, 2015
Stock and blended asset funds	$	428.6	$	180.3	$	(9.1	)	$	599.8
Bond funds	990.5		39.1		(17.1		)	1,012.5
Total	$	1,419.1	$	219.4	$	(26.2	)	$	1,612.3

December 31, 2016
Stock and blended asset funds	$	162.9	$	88.0	$	(1.9	)	$	249.0
Bond funds	463.3		1.7		(5.0		)	460.0
Total	$	626.2	$	89.7	$	(6.9	)	$	709.0

The following table details the number of holdings, the unrealized holding losses, and the aggregate fair value of available-for-sale sponsored investment portfolios with unrealized losses categorized by the length of time they have been in a continuous unrealized loss position:



	Number of holdings	Unrealized holding losses			Aggregate fair value
December 31, 2015
Less than 12 months	18	$	(15.8	)	$	419.6
12 months or more	4	(10.4		)	298.6
Total	22	$	(26.2	)	$	718.2

December 31, 2016
Less than 12 months	8	$	(4.2	)	$	328.1
12 months or more	2	(2.7		)	169.5
Total	10	$	(6.9	)	$	497.6

In addition to the duration of the impairments, we reviewed the severity of the impairment as well as our intent and ability to hold the investments for a period of time sufficient for an anticipated recovery in fair value. Accordingly, these impaired investment holdings are considered temporary at December 31, 2015 and 2016.

Dividends, excluding capital gain distributions, earned on available-for-sale sponsored investment portfolios totaled $14.7 million in 2014, $18.1 million in 2015, and $8.7 million in 2016.

VARIABLE INTEREST ENTITIES.

Our investments at December 31, 2016, include $149.2 million of investments in variable interest entities that we do not consolidate as we are not deemed the primary beneficiary. Our maximum risk of loss (in millions) related to our involvement with these entities at December 31, 2016, is as follows:



Investment carrying values	$	149.2
Unfunded capital commitments	46.4
Uncollected investment advisory and administrative fees	5.9
	$	201.5

The unfunded capital commitments totaling $46.4 million relate primarily to investment partnerships in which we have an existing investment. In addition to such amounts, a percentage of prior distributions may be called under certain circumstances.

FAIR VALUE MEASUREMENTS.

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS.

We determine the fair value of our cash equivalents and certain investments using the following broad levels of inputs as defined by related accounting standards:

Level 1 – quoted prices in active markets for identical securities.

Level 2 – observable inputs other than Level 1 quoted prices including, but not limited to, quoted prices for similar securities, interest rates, prepayment speeds, and credit risk. These inputs are based on market data obtained from independent sources.

Level 3 – unobservable inputs reflecting our own assumptions based on the best information available. We do not value any investments using Level 3 inputs.

These levels are not necessarily an indication of the risk or liquidity associated with our investments. There have been no transfers between the levels. The following table summarizes our investments (in millions) that are recognized in our consolidated balance sheets using fair value measurements determined based on the differing levels of inputs.



	Level 1		Level 2
2015
Cash equivalents	$	997.5	$	—
Available-for-sale sponsored investment portfolios	1,612.3		—
Sponsored investment portfolios held as trading	25.8		—
Total	$	2,635.6	$	—

2016
Cash equivalents	$	1,052.3	$	—
Available-for-sale sponsored investment portfolios	709.0		—
Sponsored investment portfolios held as trading	60.3		15.1
Total	$	1,821.6	$	15.1

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Consolidated Sponsored Investment Portfolios [Abstract]

CONSOLIDATED SPONSORED INVESTMENT PORTFOLIOS.

12 Months Ended

Dec. 31, 2016

CONSOLIDATED SPONSORED INVESTMENT PORTFOLIOS

CONSOLIDATED SPONSORED INVESTMENT PORTFOLIOS.

The sponsored investment portfolios that we consolidate in our consolidated financial statements are generally those products we provided initial seed capital at the time of their formation and have a controlling interest. Our U.S. sponsored investment portfolios are considered voting interest entities, while those regulated outside the U.S. are considered variable interest entities.

The following table details the net assets of the consolidated sponsored investment portfolios at December 31, 2016.



	Voting interest entities		Variable interest entities		Total
Cash and cash equivalents	$	10.3	$	55.3	$	65.6
Investments	219.3		1,340.6		1,559.9
Other assets	4.8		50.2		55.0
Total assets	234.4		1,446.1		1,680.5
Liabilities	8.8		56.8		65.6
Net assets	$	225.6	$	1,389.3	$	1,614.9

Attributable to redeemable non-controlling interests	$	69.5	$	617.7	$	687.2
Attributable to T. Rowe Price Group	156.1		771.6		927.7
	$	225.6	$	1,389.3	$	1,614.9

Although we can redeem our net interest in these sponsored investment portfolios at any time, we cannot directly access or sell the assets held by the portfolios to obtain cash for general operations. Additionally, the assets of these investment portfolios are not available to our general creditors.

Since third-party investors in these investment funds have no recourse to our credit, our overall risk related to the net assets of consolidated sponsored investment portfolios is limited to valuation changes associated with our net interest. We, however, are required to recognize the valuation changes associated with all underlying investments held by these portfolios in our consolidated statements of income and disclose the portion attributable to third-party investors as net income attributable to redeemable non-controlling interests.

The operating results (in millions) of the consolidated sponsored investment portfolios for the year ended December 31, 2016, are reflected in our consolidated statements of income as follows:



	Year ended 12/31/2016
	Voting interest entities			Variable interest entities			Total
Operating expenses reflected in net operating income	$	(1.6	)	$	(11.4	)	$	(13.0	)
Net investment income reflected in non-operating income	22.5			98.6			121.1
Impact on income before taxes	$	20.9		$	87.2		$	108.1

Net income attributable to T. Rowe Price Group	$	15.0		$	54.1		$	69.1
Net income attributable to redeemable non-controlling interests	5.9			33.1			39.0
	$	20.9		$	87.2		$	108.1

The operating expenses of these consolidated portfolios are reflected in other operating expenses. For the year ended December 31, 2016, we eliminated $6.5 million of these expenses against our investment advisory and administrative fees earned in preparing our consolidated financial statements. The net investment income reflected in non-operating income includes dividend and interest income and realized and unrealized gains and losses on the underlying securities held by the consolidated sponsored investment portfolios.

The table below details the impact of these consolidated investment portfolios on the individual lines of our consolidated statement of cash flows (in millions) for the year ended December 31, 2016.



	Year ended 12/31/2016
	Voting interest entities			Variable interest entities			Total
Net cash provided by (used in) operating activities	$	(80.1	)	$	(1,086.5	)	$	(1,166.6	)
Net cash provided by (used in) investing activities	21.6			19.8			41.4
Net cash provided by (used in) financing activities	68.8			1,124.1			1,192.9
Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment portfolios	—			(2.1		)	(2.1		)
Net change in cash and cash equivalents during period	10.3			55.3			65.6
Cash and cash equivalents at beginning of year	—			—			—
Cash and cash equivalents at end of period	$	10.3		$	55.3		$	65.6

The net cash provided by (used in) financing activities during 2016 includes $277.9 million of net subscriptions we made into the consolidated sponsored investment portfolios, net of dividends received. These cash flows were eliminated in consolidation.

FAIR VALUE MEASUREMENTS.

We determine the fair value of investments held by consolidated sponsored investment portfolios using the following broad levels of inputs as defined by related accounting standards:

Level 1 – quoted prices in active markets for identical securities.

Level 3 – unobservable inputs reflecting our own assumptions based on the best information available. We do not value any

investments using Level 3 inputs.

These levels are not necessarily an indication of the risk or liquidity associated with these investment holdings. There have been no material transfers between the levels. The following table summarizes the investment holdings held by our consolidated sponsored investment portfolios (in millions) using fair value measurements determined based on the differing levels of inputs.



	Level 1			Level 2
December 31, 2015
Assets
Equity securities	$	2.8		$	11.2
Fixed income securities	—			43.0
Other investments	.7			—
	$	3.5		$	54.2
December 31, 2016
Assets
Cash equivalents	$	8.8		$	.8
Equity securities	281.8			325.3
Fixed income securities	—			918.1
Other investments	.4			34.3
	$	291.0		$	1,278.5

Liabilities	$	(.6	)	$	(13.6	)

PROPERTY AND EQUIPMENT.

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT.

Property and equipment (in millions) at December 31 consists of:



	2015		2016
Computer and communications software and equipment	$	610.8	$	704.0
Buildings and improvements	415.1		422.0
Leasehold improvements	98.7		108.2
Furniture and other equipment	145.9		158.3
Land	40.3		40.3
Leased land	2.7		2.7
	1,313.5		1,435.5
Less accumulated depreciation and amortization	706.4		820.4
Total	$	607.1	$	615.1

Compensation and related costs attributable to the development of computer software for internal use totaling $19.6 million in 2014, $22.3 million in 2015, and $28.9 million in 2016 have been capitalized.

We occupy certain office facilities and lease computer and other equipment under noncancelable operating leases. Related rental expense was $29.3 million in 2014, $31.1 million in 2015, and $32.8 million in 2016. Future minimum payments under these leases aggregate $29.1 million in 2017, $32.0 million in 2018, $31.4 million in 2019, $27.9 million in 2020, $26.2 million in 2021, and $115.1 million in later years.

INCOME TAXES.

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES.

The provision for income taxes (in millions) consists of:



	2014			2015			2016
Current income taxes
U.S. federal	$	635.8		$	669.5		$	573.7
State and local	126.8			134.3			105.8
Foreign	16.3			18.9			13.5
Deferred income taxes (tax benefits)	(5.4		)	(43.3		)	13.5
Total	$	773.5		$	779.4		$	706.5

Deferred income taxes and benefits arise from temporary differences between taxable income for financial statement and income tax return purposes. The deferred income taxes (tax benefits) recognized as part of our provision for income taxes is related to:



	2014			2015			2016
Property and equipment	$	2.0		$	(2.3	)	$	3.2
Stock-based compensation	(11.2		)	(14.6		)	1.3
Accrued compensation	(.1		)	(.9		)	(1.7		)
Supplemental savings plan liability	—			(27.4		)	(30.9		)
Other-than-temporary impairments of available-for-sale investments	4.7			(.4		)	10.0
Unrealized holding gains recognized in non-operating income	(5.2		)	(2.4		)	31.6
Other	4.4			4.7			—
Total deferred income taxes (tax benefits)	$	(5.4	)	$	(43.3	)	$	13.5

The following table reconciles the statutory federal income tax rate to our effective income tax rate.



	2014		2015		2016
Statutory U.S. federal income tax rate	35.0	%	35.0	%	35.0	%
State income taxes for current year, net of federal income tax benefits	4.0		4.3		3.8
Net income attributable to redeemable non-controlling interests	—		—		(.7	)
Net excess tax benefits from stock-based compensation plans activity	—		—		(1.7	)
Other items	(.4	)	(.4	)	(.4	)
Effective income tax rate	38.6	%	38.9	%	36.0	%

The net deferred tax assets (in millions) recognized in our consolidated balance sheets in other assets relate to the following:



	December 31,
	2015			2016
Deferred tax liabilities
Property and equipment	$	(36.0	)	$	(39.2	)
Net unrealized holding gains recognized in income⁽¹⁾	—			(43.2		)
Net unrealized holding gains on available-for-sale portfolio⁽¹⁾	(74.2		)	(33.4		)
Other	(26.3		)	(27.5		)
	(136.5		)	(143.3		)
Deferred tax assets
Stock-based compensation⁽²⁾	162.5			165.1
Other-than-temporary impairments of investments in sponsored funds	26.1			16.1
Accrued compensation	3.9			5.6
Supplemental savings plan	27.4			58.3
Currency translation adjustment⁽¹⁾	18.3			23.0
Other	12.1			7.7
	250.3			275.8
Net deferred tax asset	$	113.8		$	132.5

⁽¹⁾Upon adoption of ASU 2015-2 on January 1, 2016, $17.0 million of deferred tax liabilities associated with unrealized holding gains on our available-for-sale portfolio and $.3 million of deferred tax assets associated with currency translation adjustments were reclassified to deferred tax liabilities associated with unrealized holding gains recognized in income as the related sponsored investment portfolios are now consolidated and underlying investments are accounted for as trading investments.

⁽²⁾Upon adoption of ASU 2016-9 on January 1, 2016, we elected to account for forfeitures of stock-based compensation awards as they occur; therefore, the related deferred tax asset was increased $3.9 million for the cumulative effect adjustment recognized upon implementation of the new guidance.

A deferred tax liability for unremitted earnings of our foreign subsidiaries has not been recognized, as it is our intention to indefinitely reinvest these earnings outside the U.S. The unremitted earnings of these subsidiaries are estimated to be $464 million at December 31, 2016. If these earnings were distributed to the U.S. in the form of dividends or otherwise, or if any of the entities were sold or otherwise transferred, we would be subject to U.S. income taxes, less any foreign tax credits. Determination of the amount of the unrecognized deferred tax liability related to these earnings is not practicable.

Other assets include tax refund receivables of $2.4 million at December 31, 2015, and $8.1 million at December 31, 2016.

Cash outflows from operating activities include net income taxes paid of $763.7 million in 2014, $778.6 million in 2015, and $680.6 million in 2016.

Additional income tax benefits of $53.4 million in 2014 and $23.2 million in 2015 arising from stock-based compensation plans activity reduced the amount of income taxes that would have otherwise been payable. The additional income tax benefits related to stock-based compensation in 2016 totaled $31.6 million and were recognized in the income tax provision.

The following table summarizes the changes in our unrecognized tax benefits (in millions).



	2014			2015			2016
Balance at beginning of year	$	4.8		$	5.6		$	5.8
Changes in tax positions related to
Current year	1.0			.7			.6
Prior years	(.2		)	1.8			—
Expired statute of limitations	—			(2.3		)	(.2		)
Balance at end of year	$	5.6		$	5.8		$	6.2

If recognized, these tax benefits would affect our effective tax rate; however, we do not expect that unrecognized tax benefits for tax positions taken with respect to 2016 and prior years will significantly change in 2017. The U.S. has concluded examinations related to federal tax obligations through the year 2015. A net interest payable related to our unrecognized tax benefits of $.9 million at December 31, 2015, and $1.2 million at December 31, 2016, are recognized in our consolidated balance sheets. Our accounting policy with respect to interest and penalties arising from income tax settlements is to recognize them as part of our provision for income taxes. Interest recognized as part of our provision for income taxes was not material.

STOCKHOLDERS' EQUITY.	12 Months Ended
STOCKHOLDERS' EQUITY.	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS' EQUITY. SHARE REPURCHASES. The Board of Directors has authorized the future repurchase of up to 21,796,197 common shares as of December 31, 2016. DIVIDENDS. Regular cash dividends declared per share were $1.76 in 2014, $2.08 in 2015, and $2.16 in 2016. A $2.00 per share special dividend was also declared and paid during 2015. RESTRICTED CAPITAL. Our consolidated stockholders' equity at December 31, 2016, includes about $120 million that is restricted as to use by various regulations and agreements arising in the ordinary course of our business.

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707

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-SubTopic 10
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+ Details

STOCK-BASED COMPENSATION.

12 Months Ended

Dec. 31, 2016

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION.

SHARES AUTHORIZED FOR STOCK-BASED COMPENSATION PROGRAMS.

At December 31, 2016, a total of 43,550,967 shares of unissued common stock were authorized for issuance under our stock-based compensation plans. Additionally, a total of 561,646 shares are authorized for issuance under a plan whereby substantially all employees may acquire common stock through payroll deductions at prevailing market prices.

STOCK OPTIONS.

The following table summarizes the status of and changes in our stock option grants during 2016.



	Options		Weighted- average exercise price		Weighted-average remaining contractual term in years
Outstanding at December 31, 2015	30,818,229		$	59.24
Non-employee director grants	26,100		$	69.56
Exercised	(5,943,654	)	$	47.21
Forfeited	(497,671	)	$	72.26
Expired	(38,682	)	$	74.26
Outstanding at December 31, 2016	24,364,322		$	61.90	5.1
Exercisable at December 31, 2016	17,528,991		$	57.17	4.2

Compensation and related costs includes a charge for stock option-based compensation expense of $63.4 million in 2014, $63.7 million in 2015, and $44.9 million in 2016.

The total intrinsic value of options exercised was $196.5 million in 2014, $108.1 million in 2015, and $150.5 million in 2016. At December 31, 2016, the aggregate intrinsic value of in-the-money options outstanding was $345.9 million, including $323.4 million related to options exercisable.

RESTRICTED SHARES AND STOCK UNITS.

The following table summarizes the status of and changes in our nonvested restricted shares and restricted stock units during 2016.



	Restricted shares		Restricted stock units		Weighted- average fair value
Nonvested at December 31, 2015	1,470,827		2,216,431		$	74.66
Time-based grants	5,200		2,795,029		$	69.66
Performance-based grants	—		259,312		$	69.94
Vested (value at vest date was $76.7 million)	(483,481	)	(524,233	)	$	73.18
Forfeited	(61,038	)	(112,078	)	$	74.54
Nonvested at December 31, 2016	931,508		4,634,461		$	72.19

The nonvested at December 31, 2016, includes 14,400 performance-based restricted shares and 403,448 performance-based restricted stock units. These nonvested performance-based restricted shares and units include 14,400 shares and 116,865 units for which the performance period has lapsed and the performance threshold has been met.

Compensation and related costs includes expenses for restricted shares and restricted stock units of $70.0 million in 2014, $85.3 million in 2015, and $116.7 million in 2016.

At December 31, 2016, non-employee directors held 61,397 vested stock units that will convert to common shares upon their separation from the Board.

FUTURE STOCK-BASED COMPENSATION EXPENSE.

The following table presents the compensation expense (in millions) to be recognized over the remaining vesting periods of the stock-based awards outstanding at December 31, 2016. Estimated future compensation expense will change to reflect future option grants, future awards of unrestricted shares and restricted stock units, changes in the probability of performance thresholds being met, and adjustments for actual forfeitures.



First quarter 2017	$	37.5
Second quarter 2017	37.5
Third quarter 2017	37.6
Fourth quarter 2017	33.6
Total 2017	146.2
2018 through 2021	157.5
Total	$	303.7

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

EARNINGS PER SHARE CALCULATIONS

EARNINGS PER SHARE CALCULATIONS.

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

EARNINGS PER SHARE CALCULATIONS.

The following table presents the reconciliation (in millions) of net income attributable to T. Rowe Price Group to net income allocated to our common stockholders and the weighted-average shares (in millions) that are used in calculating the basic and diluted earnings per share on our common stock. Weighted-average common shares outstanding assuming dilution reflect the potential dilution, determined using the treasury stock method, that could occur if outstanding stock options were exercised and non-participating stock awards vested.



	2014		2015		2016
Net income attributable to T. Rowe Price Group	$	1,229.6	$	1,223.0	$	1,215.0
Less: net income allocated to outstanding restricted stock and stock unit holders	14.2		16.1		25.5
Net income allocated to common stockholders	$	1,215.4	$	1,206.9	$	1,189.5

Weighted-average common shares
Outstanding	259.6		254.6		245.5
Outstanding assuming dilution	267.4		260.9		250.3

The following table shows the weighted-average outstanding stock options (in millions) that are excluded from the calculation of diluted earnings per common share as the inclusion of such shares would be anti-dilutive.



	2014	2015	2016
Weighted-average outstanding stock options excluded	3.8	6.4	9.9

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME.

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME.

The following table presents the deferred tax benefits (income taxes) impact of the components (in millions) of other comprehensive income.



	2014		2015			2016
Deferred tax benefits (income taxes) on:
Net unrealized holding gains or losses	$	.8	$	5.1		$	.6
Reclassification adjustments recognized in the provision for income taxes:
Capital gain distributions	11.9		7.9			2.4
Net gains realized on dispositions	18.8		20.7			20.9
Other-than-temporary impairments	—		(1.9		)	—
Net deferred tax benefits (income taxes) on net unrealized holding gains or losses recognized in other comprehensive income	31.5		31.8			23.9
Currency translation adjustments	.7		3.8			3.5
Reclassification adjustment recognized in the provision for income taxes upon deconsolidation of sponsored fund subsidiary	$	—	$	(1.2	)	$	.8
Total deferred tax benefits (income taxes) on currency translation adjustments	$	.7	$	2.6		$	4.3
Total deferred tax benefits (income taxes)	$	32.2	$	34.4		$	28.2

The changes (in millions) in each component of accumulated other comprehensive income for each year ended December 31 are presented below.



				Currency translation adjustments
	Net unrealized holding gains			Equity method investments			Consolidated sponsored investment portfolios - variable interest entities			Total currency translation adjustments			Total
Balances at December 31, 2013	$	216.3		$	(26.9	)	$	(1.1	)	$	(28.0	)	$	188.3
Other comprehensive income (loss) before reclassifications and income taxes	(1.9		)	1.8			(3.6		)	(1.8		)	(3.7		)
Reclassification adjustments recognized in non-operating investment income	(80.4		)	—			—			—			(80.4		)
	(82.3		)	1.8			(3.6		)	(1.8		)	(84.1		)
Deferred tax benefits (income taxes)	31.5			(.6		)	1.3			.7			32.2
Other comprehensive income (loss)	(50.8		)	1.2			(2.3		)	(1.1		)	(51.9		)
Balances at December 31, 2014	165.5			(25.7		)	(3.4		)	(29.1		)	136.4
Other comprehensive income (loss) before reclassifications and income taxes	(4.5		)	(8.1		)	(4.9		)	(13.0		)	(17.5		)
Reclassification adjustments recognized in non-operating investment income	(72.5		)	—			5.8			5.8			(66.7		)
	(77.0		)	(8.1		)	.9			(7.2		)	(84.2		)
Deferred tax benefits (income taxes)	31.8			2.9			(.3		)	2.6			34.4
Other comprehensive income (loss)	(45.2		)	(5.2		)	.6			(4.6		)	(49.8		)
Balances at December 31, 2015	120.3			(30.9		)	(2.8		)	(33.7		)	86.6
Reclassification of accumulated other comprehensive income to retained earnings upon adoption of the new consolidation accounting guidance	(32.0		)	(.5		)	—			(.5		)	(32.5		)
Balance at January 1, 2016	88.3			(31.4		)	(2.8		)	(34.2		)	54.1
Other comprehensive income (loss) before reclassifications and income taxes	(7.0		)	(1.6		)	(7.0		)	(8.6		)	(15.6		)
Reclassification adjustments recognized in non-operating investment income	(53.0		)	—			(2.2		)	(2.2		)	(55.2		)
	(60.0		)	(1.6		)	(9.2		)	(10.8		)	(70.8		)
Deferred tax benefits (income taxes)	23.9			.7			3.6			4.3			28.2
Other comprehensive income (loss)	(36.1		)	(.9		)	(5.6		)	(6.5		)	(42.6		)
Balances at December 31, 2016	$	52.2		$	(32.3	)	$	(8.4	)	$	(40.7	)	$	11.5

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=66004124&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

DELL APPRAISAL RIGHTS MATTER.	12 Months Ended
DELL APPRAISAL RIGHTS MATTER.	Dec. 31, 2016
Unusual or Infrequent Items, or Both [Abstract]
DELL APPRAISAL RIGHTS MATTER	DELL APPRAISAL RIGHTS MATTER. In 2016, we paid $166.2 million to compensate certain T. Rowe Price mutual funds, trusts, separately managed accounts, and subadvised clients (collectively, “Clients”) for the denial of their appraisal rights by the Delaware Chancery Court (Court) in connection with the 2013 leveraged buyout of Dell, Inc. (Dell). The Court ruled on May 11, 2016, that the Clients could not pursue an appraisal of any shares they held that were voted in favor of the Dell merger. The appraisal statute governing the transaction required the record holder to vote against or abstain from voting on the transaction in order to assert appraisal rights. After previously voting against prior transaction proposals, the voting instructions submitted on behalf of the Clients in connection with voting on the final proposed transaction were incorrectly submitted in favor of the transaction. On May 31, 2016, the Court determined that the fair value of Dell at the time of the merger was $17.62 per share, as opposed to the $13.75 price offered in the transaction. As a result, any shareholder perfecting appraisal rights is entitled to a payment at $17.62 per share plus statutory interest from the date the Dell transaction closed. The compensation to Clients was intended to make them whole for the voting discrepancy that resulted in the denial of their appraisal rights. On December 30, 2016, we signed a settlement agreement with our insurance carrier for insurance proceeds totaling $100.0 million related to this matter. We recognized the proceeds as a reduction to the $166.2 million nonrecurring charge that we previously recognized during 2016 and have included a receivable for the proceeds in other assets at December 31, 2016. We received the insurance proceeds on January 24, 2017. Remaining insurance claims filed with respect to this matter that could result in an additional recovery of up to $50 million are still pending.

OTHER DISCLOSURES.	12 Months Ended
OTHER DISCLOSURES.	Dec. 31, 2016
Other Disclosures [Abstract]
OTHER DISCLOSURES.	OTHER DISCLOSURES. CONTINGENCIES. From time to time, various claims against us arise in the ordinary course of business, including employment-related claims. In the opinion of management, after consultation with counsel, the likelihood that an adverse determination in one or more pending claims would have a material adverse effect on our financial position or results of operations is remote. RETIREMENT PLANS. Compensation and related costs includes expense recognized for our defined contribution retirement plans of $70.6 million in 2014, $74.9 million in 2015, and $80.7 million in 2016. SUPPLEMENTAL SAVINGS PLAN. The Supplemental Savings Plan, effective January 1, 2015, provides certain senior officers the opportunity to defer receipt of up to 100% of their cash incentive compensation earned for a respective calendar year during which services are provided. The amounts deferred are adjusted in accordance with the hypothetical investments chosen by the officer from a list of mutual funds. The officer can initially defer these amounts for a period of two to 15 years. For the year-ended December 31, 2015 and 2016, senior officers elected to defer $72.8 million and $83.4 million, respectively.

SUPPLEMENTARY CONSOLIDATING CASH FLOW SCHEDULE.

12 Months Ended

Dec. 31, 2016

SUPPLEMENTARY CONSOLIDATING CASH FLOW SCHEDULE

SUPPLEMENTARY CONSOLIDATING CASH FLOW SCHEDULE.

The following table summarizes the cash flows (in millions) for the year ended December 31, 2016, that are attributable to T. Rowe Price Group, our consolidated sponsored investment portfolios, and the related eliminations required in preparing the statement.



				Year ended 12/31/2016
	As reported for the year ended 12/31/2015			Cash flow attributable to T. Rowe Price Group			Cash flow attributable to consolidated sponsored investment portfolios			Eliminations			As reported on statement of cash flows
Cash flows from operating activities
Net income	$	1,223.0		$	1,215.0		$	108.1		$	(69.1	)	$	1,254.0
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Depreciation and amortization of property and equipment	126.3			133.4			—			—			133.4
Stock-based compensation expense	149.0			161.6			—			—			161.6
Realized gains on dispositions of available-for-sale sponsored investment portfolios	(56.5		)	(53.0		)	—			—			(53.0		)
Net gains recognized on investments	(5.9		)	(100.1		)	—			69.1			(31.0		)
Net change in trading securities held by consolidated sponsored investment portfolios	(7.5		)	—			(1,297.9		)	—			(1,297.9		)
Other changes in assets and liabilities	102.1			(13.2		)	23.2			(6.6		)	3.4
Net cash provided by (used in) operating activities	1,530.5			1,343.7			(1,166.6		)	(6.6		)	170.5
Net cash provided by (used in) investing activities	109.0			(219.7		)	41.4			284.5			106.2
Net cash provided by (used in) financing activities	(1,973.3		)	(1,091.4		)	1,192.9			(277.9		)	(176.4		)
Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment portfolios	—			—			(2.1		)	—			(2.1		)
Net change in cash and cash equivalents during period	(333.8		)	32.6			$	65.6		—			98.2
Cash and cash equivalents at beginning of year	1,506.1			1,172.3			$	—		—			1,172.3
Cash and cash equivalents at end of period	$	1,172.3		$	1,204.9		$	65.6		$	—		$	1,270.5

SUPPLEMENTARY QUARTERLY FINANCIAL DATA (Unaudited).

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

SUPPLEMENTARY QUARTERLY FINANCIAL DATA (Unaudited)

SUPPLEMENTARY QUARTERLY FINANCIAL DATA (Unaudited).



	Net revenues		Net income		Net income attributable to T. Rowe Price Group		Basic earnings on common stock⁽¹⁾		Diluted earnings on common stock⁽¹⁾
	(in millions)						(per share)
2015
1st quarter	$	1,027.0	$	309.5	$	309.5	$	1.16	$	1.13
2nd quarter	$	1,072.4	$	333.2	$	333.2	$	1.28	$	1.24
3rd quarter	$	1,049.0	$	277.1	$	277.1	$	1.08	$	1.06
4th quarter	$	1,052.2	$	303.2	$	303.2	$	1.20	$	1.17

2016⁽²⁾
1st quarter⁽³⁾	$	994.1	$	313.3	$	304.1	$	1.21	$	1.18
2nd quarter⁽³⁾	$	1,044.7	$	211.2	$	203.3	$	.81	$	.79
3rd quarter	$	1,092.9	$	362.7	$	327.8	$	1.30	$	1.28
4th quarter	$	1,091.2	$	366.8	$	379.8	$	1.53	$	1.50

⁽¹⁾The sums of quarterly earnings per share do not equal annual earnings per share because the computations are done independently.

⁽²⁾The second quarter of 2016 includes a nonrecurring operating charge of $166.2 million, or $.39 in diluted earnings per share, related to our decision to compensate certain clients in regard to the Dell appraisal rights matter. In the fourth quarter of 2016, we recognized an offset to this charge for a related insurance recovery of $100 million, or $.24 in diluted earnings per share. For more details related to the Dell appraisal rights matter, see Note 12 to the consolidated financial statements.

⁽³⁾Net income, net income attributable to T. Rowe Price Group, and earnings per share data have been restated for the early adoption of ASU 2016-9 Improvements to Employee Share-Based Payment Accounting. See the Summary of Significant Accounting Policies in the notes to the consolidated financial statements contained in Part II, Item 8 of this filing for more information related to the impact of this new guidance.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. (Policies)

12 Months Ended

Dec. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of preparation - basis of accounting

These consolidated financial statements have been prepared by our management in accordance with accounting principles generally accepted in the U.S.

Basis of preparation - use of estimates

These principles require that we make certain estimates and assumptions. Actual results may vary from our estimates.

Basis of preparation - reclassification

Certain prior year amounts have been reclassified to conform to the 2016 presentation.

New accounting guidance

Consolidation

Variable interest entities

Along with VIEs that we consolidate, we also hold variable interests in other VIEs, including several investment partnerships that are not consolidated because we are not the primary beneficiary.

Redeemable non-controlling interests

Investments in sponsored money market mutual funds

Cash equivalents

Cash equivalents consist primarily of short-term, highly liquid investments in our sponsored money market mutual funds. The cost of these funds is equivalent to fair value.

Available-for-sale sponsored investment portfolios

Equity and cost method investments

Investments held as trading

Property and equipment

Goodwill

Revenue recognition

Taxes billed to our clients based on our fees for services rendered are not included in revenues.

Advertising

Costs of advertising are expensed the first time that the advertising takes place.

Stock-based compensation

We use the Black-Scholes option-pricing model to estimate the fair value of each option grant as follows:



	Weighted-average
	2014			2015			2016
Grant-date fair value per option awarded	$	21.12		$	17.35		$	10.62
Assumptions used:
Expected life in years	7.0			7.0			6.8
Expected volatility	30		%	27		%	20		%
Dividend yield	2.2		%	2.4		%	2.5		%
Risk-free interest rate	2.2		%	1.9		%	1.6		%

Earnings per share

Comprehensive income

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. (Tables)

12 Months Ended

Dec. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Assumptions used in option pricing model and grant date fair value of options

We use the Black-Scholes option-pricing model to estimate the fair value of each option grant as follows:



	Weighted-average
	2014			2015			2016
Grant-date fair value per option awarded	$	21.12		$	17.35		$	10.62
Assumptions used:
Expected life in years	7.0			7.0			6.8
Expected volatility	30		%	27		%	20		%
Dividend yield	2.2		%	2.4		%	2.5		%
Risk-free interest rate	2.2		%	1.9		%	1.6		%

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Tables)

12 Months Ended

Dec. 31, 2016

Information about Receivables, Revenues, and Services [Abstract]

Components of revenues from advisory services

Revenues (in millions) from advisory services provided under agreements with our sponsored mutual funds and other investment clients include:



	2014		2015		2016
Sponsored U.S. mutual funds
Stock and blended asset	$	2,086.0	$	2,241.9	$	2,228.1
Bond and money market	399.8		426.0		477.3
	2,485.8		2,667.9		2,705.4
Other investment portfolios
Stock and blended asset	824.5		862.2		850.3
Bond, money market, and stable value	154.2		157.2		173.0
	978.7		1,019.4		1,023.3
Total	$	3,464.5	$	3,687.3	$	3,728.7

Components of assets under management

The following table summarizes the investment portfolios and assets under management (in billions) on which we earn advisory fees.



	Average during						As of December 31,
	2014		2015		2016		2015		2016
Sponsored U.S. mutual funds
Stock and blended asset	$	359.3	$	387.8	$	386.1	$	383.0	$	401.3
Bond and money market	101.6		105.8		109.4		104.1		112.9
	460.9		493.6		495.5		487.1		514.2
Other investment portfolios
Stock and blended asset	201.6		210.3		211.1		209.8		220.8
Bond, money market, and stable value	62.2		64.0		71.6		66.2		75.8
	263.8		274.3		282.7		276.0		296.6
Total	$	724.7	$	767.9	$	778.2	$	763.1	$	810.8

Components of other fees

The following table summarizes the other fees (in millions) earned from our sponsored U.S. mutual funds.



	2014		2015		2016
Administrative fees	$	296.1	$	292.8	$	277.3
Distribution and servicing fees	$	143.6	$	151.5	$	141.7

INVESTMENTS. (Tables)

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Unconsolidated investments

The carrying values of investments (in millions) we do not consolidate at December 31 are as follows:



	2015		2016
Available-for-sale sponsored investment portfolios	$	1,612.3	$	709.0
Equity method investments
Sponsored investment portfolios	113.7		252.3
26% interest in UTI Asset Management Company Limited (India)	132.8		140.9
Investment partnerships	6.2		5.3
Sponsored investment portfolios held as trading	25.8		75.4
Cost method investments	69.4		73.6
U.S. Treasury note	1.0		1.0
Total	$	1,961.2	$	1,257.5

Available-for-sale sponsored investment portfolios

The available-for-sale sponsored investment portfolios (in millions) include:



	Aggregate cost		Unrealized holding					Aggregate fair value
	Aggregate cost		gains		losses			Aggregate fair value
December 31, 2015
Stock and blended asset funds	$	428.6	$	180.3	$	(9.1	)	$	599.8
Bond funds	990.5		39.1		(17.1		)	1,012.5
Total	$	1,419.1	$	219.4	$	(26.2	)	$	1,612.3

December 31, 2016
Stock and blended asset funds	$	162.9	$	88.0	$	(1.9	)	$	249.0
Bond funds	463.3		1.7		(5.0		)	460.0
Total	$	626.2	$	89.7	$	(6.9	)	$	709.0

Continuous unrealized loss positions



	Number of holdings	Unrealized holding losses			Aggregate fair value
December 31, 2015
Less than 12 months	18	$	(15.8	)	$	419.6
12 months or more	4	(10.4		)	298.6
Total	22	$	(26.2	)	$	718.2

December 31, 2016
Less than 12 months	8	$	(4.2	)	$	328.1
12 months or more	2	(2.7		)	169.5
Total	10	$	(6.9	)	$	497.6

Maximum risk of loss related to investments in variable interest entities

Our maximum risk of loss (in millions) related to our involvement with these entities at December 31, 2016, is as follows:



Investment carrying values	$	149.2
Unfunded capital commitments	46.4
Uncollected investment advisory and administrative fees	5.9
	$	201.5

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

Fair value measurements summary

FAIR VALUE MEASUREMENTS. (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

The following table summarizes our investments (in millions) that are recognized in our consolidated balance sheets using fair value measurements determined based on the differing levels of inputs.



	Level 1		Level 2
2015
Cash equivalents	$	997.5	$	—
Available-for-sale sponsored investment portfolios	1,612.3		—
Sponsored investment portfolios held as trading	25.8		—
Total	$	2,635.6	$	—

2016
Cash equivalents	$	1,052.3	$	—
Available-for-sale sponsored investment portfolios	709.0		—
Sponsored investment portfolios held as trading	60.3		15.1
Total	$	1,821.6	$	15.1

CONSOLIDATED SPONSORED INVESTMENT PORTFOLIOS. (Tables)

12 Months Ended

Dec. 31, 2016

Consolidated Sponsored Investment Portfolios [Abstract]

Net assets of consolidated sponsored investment portfolios

The following table details the net assets of the consolidated sponsored investment portfolios at December 31, 2016.



	Voting interest entities		Variable interest entities		Total
Cash and cash equivalents	$	10.3	$	55.3	$	65.6
Investments	219.3		1,340.6		1,559.9
Other assets	4.8		50.2		55.0
Total assets	234.4		1,446.1		1,680.5
Liabilities	8.8		56.8		65.6
Net assets	$	225.6	$	1,389.3	$	1,614.9

Attributable to redeemable non-controlling interests	$	69.5	$	617.7	$	687.2
Attributable to T. Rowe Price Group	156.1		771.6		927.7
	$	225.6	$	1,389.3	$	1,614.9

Operating results of consolidated sponsored investment portfolios

The operating results (in millions) of the consolidated sponsored investment portfolios for the year ended December 31, 2016, are reflected in our consolidated statements of income as follows:



	Year ended 12/31/2016
	Voting interest entities			Variable interest entities			Total
Operating expenses reflected in net operating income	$	(1.6	)	$	(11.4	)	$	(13.0	)
Net investment income reflected in non-operating income	22.5			98.6			121.1
Impact on income before taxes	$	20.9		$	87.2		$	108.1

Net income attributable to T. Rowe Price Group	$	15.0		$	54.1		$	69.1
Net income attributable to redeemable non-controlling interests	5.9			33.1			39.0
	$	20.9		$	87.2		$	108.1

Cash flows of consolidated sponsored investment portfolios

The table below details the impact of these consolidated investment portfolios on the individual lines of our consolidated statement of cash flows (in millions) for the year ended December 31, 2016.



	Year ended 12/31/2016
	Voting interest entities			Variable interest entities			Total
Net cash provided by (used in) operating activities	$	(80.1	)	$	(1,086.5	)	$	(1,166.6	)
Net cash provided by (used in) investing activities	21.6			19.8			41.4
Net cash provided by (used in) financing activities	68.8			1,124.1			1,192.9
Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment portfolios	—			(2.1		)	(2.1		)
Net change in cash and cash equivalents during period	10.3			55.3			65.6
Cash and cash equivalents at beginning of year	—			—			—
Cash and cash equivalents at end of period	$	10.3		$	55.3		$	65.6

Fair values of investments held by consolidated sponsored investment portfolios

The following table summarizes the investment holdings held by our consolidated sponsored investment portfolios (in millions) using fair value measurements determined based on the differing levels of inputs.



	Level 1			Level 2
December 31, 2015
Assets
Equity securities	$	2.8		$	11.2
Fixed income securities	—			43.0
Other investments	.7			—
	$	3.5		$	54.2
December 31, 2016
Assets
Cash equivalents	$	8.8		$	.8
Equity securities	281.8			325.3
Fixed income securities	—			918.1
Other investments	.4			34.3
	$	291.0		$	1,278.5

Liabilities	$	(.6	)	$	(13.6	)

PROPERTY AND EQUIPMENT. (Tables)

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Property and equipment summary

Property and equipment (in millions) at December 31 consists of:



	2015		2016
Computer and communications software and equipment	$	610.8	$	704.0
Buildings and improvements	415.1		422.0
Leasehold improvements	98.7		108.2
Furniture and other equipment	145.9		158.3
Land	40.3		40.3
Leased land	2.7		2.7
	1,313.5		1,435.5
Less accumulated depreciation and amortization	706.4		820.4
Total	$	607.1	$	615.1

INCOME TAXES. (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedules of provision for income taxes and deferred income taxes (tax benefits)

The provision for income taxes (in millions) consists of:



	2014			2015			2016
Current income taxes
U.S. federal	$	635.8		$	669.5		$	573.7
State and local	126.8			134.3			105.8
Foreign	16.3			18.9			13.5
Deferred income taxes (tax benefits)	(5.4		)	(43.3		)	13.5
Total	$	773.5		$	779.4		$	706.5

The deferred income taxes (tax benefits) recognized as part of our provision for income taxes is related to:



	2014			2015			2016
Property and equipment	$	2.0		$	(2.3	)	$	3.2
Stock-based compensation	(11.2		)	(14.6		)	1.3
Accrued compensation	(.1		)	(.9		)	(1.7		)
Supplemental savings plan liability	—			(27.4		)	(30.9		)
Other-than-temporary impairments of available-for-sale investments	4.7			(.4		)	10.0
Unrealized holding gains recognized in non-operating income	(5.2		)	(2.4		)	31.6
Other	4.4			4.7			—
Total deferred income taxes (tax benefits)	$	(5.4	)	$	(43.3	)	$	13.5

Schedule of effective income tax rate reconciliation

The following table reconciles the statutory federal income tax rate to our effective income tax rate.



	2014		2015		2016
Statutory U.S. federal income tax rate	35.0	%	35.0	%	35.0	%
State income taxes for current year, net of federal income tax benefits	4.0		4.3		3.8
Net income attributable to redeemable non-controlling interests	—		—		(.7	)
Net excess tax benefits from stock-based compensation plans activity	—		—		(1.7	)
Other items	(.4	)	(.4	)	(.4	)
Effective income tax rate	38.6	%	38.9	%	36.0	%

Schedule of deferred tax assets and liabilities

The net deferred tax assets (in millions) recognized in our consolidated balance sheets in other assets relate to the following:



	December 31,
	2015			2016
Deferred tax liabilities
Property and equipment	$	(36.0	)	$	(39.2	)
Net unrealized holding gains recognized in income⁽¹⁾	—			(43.2		)
Net unrealized holding gains on available-for-sale portfolio⁽¹⁾	(74.2		)	(33.4		)
Other	(26.3		)	(27.5		)
	(136.5		)	(143.3		)
Deferred tax assets
Stock-based compensation⁽²⁾	162.5			165.1
Other-than-temporary impairments of investments in sponsored funds	26.1			16.1
Accrued compensation	3.9			5.6
Supplemental savings plan	27.4			58.3
Currency translation adjustment⁽¹⁾	18.3			23.0
Other	12.1			7.7
	250.3			275.8
Net deferred tax asset	$	113.8		$	132.5

Schedule of unrecognized tax benefits

The following table summarizes the changes in our unrecognized tax benefits (in millions).



	2014			2015			2016
Balance at beginning of year	$	4.8		$	5.6		$	5.8
Changes in tax positions related to
Current year	1.0			.7			.6
Prior years	(.2		)	1.8			—
Expired statute of limitations	—			(2.3		)	(.2		)
Balance at end of year	$	5.6		$	5.8		$	6.2

STOCK-BASED COMPENSATION. (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Rollforward of stock options

The following table summarizes the status of and changes in our stock option grants during 2016.



	Options		Weighted- average exercise price		Weighted-average remaining contractual term in years
Outstanding at December 31, 2015	30,818,229		$	59.24
Non-employee director grants	26,100		$	69.56
Exercised	(5,943,654	)	$	47.21
Forfeited	(497,671	)	$	72.26
Expired	(38,682	)	$	74.26
Outstanding at December 31, 2016	24,364,322		$	61.90	5.1
Exercisable at December 31, 2016	17,528,991		$	57.17	4.2

Rollforward of nonvested restricted shares and restricted stock units

The following table summarizes the status of and changes in our nonvested restricted shares and restricted stock units during 2016.



	Restricted shares		Restricted stock units		Weighted- average fair value
Nonvested at December 31, 2015	1,470,827		2,216,431		$	74.66
Time-based grants	5,200		2,795,029		$	69.66
Performance-based grants	—		259,312		$	69.94
Vested (value at vest date was $76.7 million)	(483,481	)	(524,233	)	$	73.18
Forfeited	(61,038	)	(112,078	)	$	74.54
Nonvested at December 31, 2016	931,508		4,634,461		$	72.19

Future stock-based compensation expense



First quarter 2017	$	37.5
Second quarter 2017	37.5
Third quarter 2017	37.6
Fourth quarter 2017	33.6
Total 2017	146.2
2018 through 2021	157.5
Total	$	303.7

EARNINGS PER SHARE CALCULATIONS. (Tables)

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings per share reconciliation



	2014		2015		2016
Net income attributable to T. Rowe Price Group	$	1,229.6	$	1,223.0	$	1,215.0
Less: net income allocated to outstanding restricted stock and stock unit holders	14.2		16.1		25.5
Net income allocated to common stockholders	$	1,215.4	$	1,206.9	$	1,189.5

Weighted-average common shares
Outstanding	259.6		254.6		245.5
Outstanding assuming dilution	267.4		260.9		250.3

Anti-dilutive securities



	2014	2015	2016
Weighted-average outstanding stock options excluded	3.8	6.4	9.9

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME. (Tables)

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

Impact of the components of other comprehensive income on deferred tax benefits (income taxes)

The following table presents the deferred tax benefits (income taxes) impact of the components (in millions) of other comprehensive income.



	2014		2015			2016
Deferred tax benefits (income taxes) on:
Net unrealized holding gains or losses	$	.8	$	5.1		$	.6
Reclassification adjustments recognized in the provision for income taxes:
Capital gain distributions	11.9		7.9			2.4
Net gains realized on dispositions	18.8		20.7			20.9
Other-than-temporary impairments	—		(1.9		)	—
Net deferred tax benefits (income taxes) on net unrealized holding gains or losses recognized in other comprehensive income	31.5		31.8			23.9
Currency translation adjustments	.7		3.8			3.5
Reclassification adjustment recognized in the provision for income taxes upon deconsolidation of sponsored fund subsidiary	$	—	$	(1.2	)	$	.8
Total deferred tax benefits (income taxes) on currency translation adjustments	$	.7	$	2.6		$	4.3
Total deferred tax benefits (income taxes)	$	32.2	$	34.4		$	28.2

Changes in accumulated other comprehensive income

The changes (in millions) in each component of accumulated other comprehensive income for each year ended December 31 are presented below.



				Currency translation adjustments
	Net unrealized holding gains			Equity method investments			Consolidated sponsored investment portfolios - variable interest entities			Total currency translation adjustments			Total
Balances at December 31, 2013	$	216.3		$	(26.9	)	$	(1.1	)	$	(28.0	)	$	188.3
Other comprehensive income (loss) before reclassifications and income taxes	(1.9		)	1.8			(3.6		)	(1.8		)	(3.7		)
Reclassification adjustments recognized in non-operating investment income	(80.4		)	—			—			—			(80.4		)
	(82.3		)	1.8			(3.6		)	(1.8		)	(84.1		)
Deferred tax benefits (income taxes)	31.5			(.6		)	1.3			.7			32.2
Other comprehensive income (loss)	(50.8		)	1.2			(2.3		)	(1.1		)	(51.9		)
Balances at December 31, 2014	165.5			(25.7		)	(3.4		)	(29.1		)	136.4
Other comprehensive income (loss) before reclassifications and income taxes	(4.5		)	(8.1		)	(4.9		)	(13.0		)	(17.5		)
Reclassification adjustments recognized in non-operating investment income	(72.5		)	—			5.8			5.8			(66.7		)
	(77.0		)	(8.1		)	.9			(7.2		)	(84.2		)
Deferred tax benefits (income taxes)	31.8			2.9			(.3		)	2.6			34.4
Other comprehensive income (loss)	(45.2		)	(5.2		)	.6			(4.6		)	(49.8		)
Balances at December 31, 2015	120.3			(30.9		)	(2.8		)	(33.7		)	86.6
Reclassification of accumulated other comprehensive income to retained earnings upon adoption of the new consolidation accounting guidance	(32.0		)	(.5		)	—			(.5		)	(32.5		)
Balance at January 1, 2016	88.3			(31.4		)	(2.8		)	(34.2		)	54.1
Other comprehensive income (loss) before reclassifications and income taxes	(7.0		)	(1.6		)	(7.0		)	(8.6		)	(15.6		)
Reclassification adjustments recognized in non-operating investment income	(53.0		)	—			(2.2		)	(2.2		)	(55.2		)
	(60.0		)	(1.6		)	(9.2		)	(10.8		)	(70.8		)
Deferred tax benefits (income taxes)	23.9			.7			3.6			4.3			28.2
Other comprehensive income (loss)	(36.1		)	(.9		)	(5.6		)	(6.5		)	(42.6		)
Balances at December 31, 2016	$	52.2		$	(32.3	)	$	(8.4	)	$	(40.7	)	$	11.5

SUPPLEMENTARY CONSOLIDATING CASH FLOW SCHEDULE. (Tables)

12 Months Ended

Dec. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplementary consolidating cash flow statement



				Year ended 12/31/2016
	As reported for the year ended 12/31/2015			Cash flow attributable to T. Rowe Price Group			Cash flow attributable to consolidated sponsored investment portfolios			Eliminations			As reported on statement of cash flows
Cash flows from operating activities
Net income	$	1,223.0		$	1,215.0		$	108.1		$	(69.1	)	$	1,254.0
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Depreciation and amortization of property and equipment	126.3			133.4			—			—			133.4
Stock-based compensation expense	149.0			161.6			—			—			161.6
Realized gains on dispositions of available-for-sale sponsored investment portfolios	(56.5		)	(53.0		)	—			—			(53.0		)
Net gains recognized on investments	(5.9		)	(100.1		)	—			69.1			(31.0		)
Net change in trading securities held by consolidated sponsored investment portfolios	(7.5		)	—			(1,297.9		)	—			(1,297.9		)
Other changes in assets and liabilities	102.1			(13.2		)	23.2			(6.6		)	3.4
Net cash provided by (used in) operating activities	1,530.5			1,343.7			(1,166.6		)	(6.6		)	170.5
Net cash provided by (used in) investing activities	109.0			(219.7		)	41.4			284.5			106.2
Net cash provided by (used in) financing activities	(1,973.3		)	(1,091.4		)	1,192.9			(277.9		)	(176.4		)
Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment portfolios	—			—			(2.1		)	—			(2.1		)
Net change in cash and cash equivalents during period	(333.8		)	32.6			$	65.6		—			98.2
Cash and cash equivalents at beginning of year	1,506.1			1,172.3			$	—		—			1,172.3
Cash and cash equivalents at end of period	$	1,172.3		$	1,204.9		$	65.6		$	—		$	1,270.5

SUPPLEMENTARY QUARTERLY FINANCIAL DATA (Unaudited). (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Schedule of supplementary quarterly financial data



	Net revenues		Net income		Net income attributable to T. Rowe Price Group		Basic earnings on common stock⁽¹⁾		Diluted earnings on common stock⁽¹⁾
	(in millions)						(per share)
2015
1st quarter	$	1,027.0	$	309.5	$	309.5	$	1.16	$	1.13
2nd quarter	$	1,072.4	$	333.2	$	333.2	$	1.28	$	1.24
3rd quarter	$	1,049.0	$	277.1	$	277.1	$	1.08	$	1.06
4th quarter	$	1,052.2	$	303.2	$	303.2	$	1.20	$	1.17

2016⁽²⁾
1st quarter⁽³⁾	$	994.1	$	313.3	$	304.1	$	1.21	$	1.18
2nd quarter⁽³⁾	$	1,044.7	$	211.2	$	203.3	$	.81	$	.79
3rd quarter	$	1,092.9	$	362.7	$	327.8	$	1.30	$	1.28
4th quarter	$	1,091.2	$	366.8	$	379.8	$	1.53	$	1.50

⁽¹⁾The sums of quarterly earnings per share do not equal annual earnings per share because the computations are done independently.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. (New accounting guidance) (Details)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

$ / shares

Sep. 30, 2016

$ / shares

Jun. 30, 2016

$ / shares

Mar. 31, 2016

$ / shares

Dec. 31, 2015

USD ($)

$ / shares

Sep. 30, 2015

$ / shares

Jun. 30, 2015

$ / shares

Mar. 31, 2015

$ / shares

Dec. 31, 2016

USD ($)

$ / shares

Dec. 31, 2015

USD ($)

$ / shares

Dec. 31, 2014

USD ($)

$ / shares

Jan. 01, 2016

USD ($)

portfolio

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Diluted earnings per share (in dollars per share) | $ / shares

$ 1.50

$ 1.28

$ 0.79

$ 1.18

$ 1.17

$ 1.06

$ 1.24

$ 1.13

$ 4.75

$ 4.63

$ 4.55

Net cash used in financing activities

^[1]

$ 176.4

$ 1,973.3

$ 792.4

Net cash provided by operating activities

^[1]

170.5

1,530.5

1,343.9

Net tax benefits reducing income tax provision

$ 31.6

Variable interest entities [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Number of sponsored investment portfolios consolidated | portfolio

Voting interest entities [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Number of sponsored investment portfolios consolidated | portfolio

Assets [Member] | Accounting standards update 2015-2 [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative effect of adopting new accounting guidance

$ (1,600.0)

Liability [Member] | Accounting standards update 2015-2 [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative effect of adopting new accounting guidance

21.3

Redeemable non-controlling interests [Member] | Accounting standards update 2015-2 [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative effect of adopting new accounting guidance

$ 672.7

Accumulated other comprehensive income (loss) [Member] | Accounting standards update 2015-2 [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative effect of adopting new accounting guidance

$ (32.5)

(32.5)

Retained earnings [Member] | Accounting standards update 2015-2 [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative effect of adopting new accounting guidance

32.5

New accounting pronouncement, early adoption, effect [Member] | Accounting standards update 2016-09, excess tax benefit component [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Net cash used in financing activities

24.1

52.6

Net cash provided by operating activities

24.1

$ 52.6

New accounting pronouncement, early adoption, effect [Member] | Accounting standards update 2016-09, forfeiture rate component [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative effect of adopting new accounting guidance

3.9

New accounting pronouncement, early adoption, effect [Member] | Other assets [Member] | Accounting standards update 2016-09, forfeiture rate component [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative effect of adopting new accounting guidance

(3.9)

New accounting pronouncement, early adoption, effect [Member] | Retained earnings [Member] | Accounting standards update 2016-09, forfeiture rate component [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative effect of adopting new accounting guidance

(9.0)

New accounting pronouncement, early adoption, effect [Member] | Additional paid-in capital [Member] | Accounting standards update 2016-09, forfeiture rate component [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative effect of adopting new accounting guidance

$ 12.9

[1]	See note 14 for a supplemental consolidating cash flow schedule.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. (Investments) (Details)	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Duration of fund holding unrealized loss between quarter-ends generally presumed to represent other than temporary impairment	6 months

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. (Property and equipment) (Details)	12 Months Ended
	Dec. 31, 2016
Computer and communications software and equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Buildings and improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	33 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	8 years
Furniture and other equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Leased land [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	99 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. (Goodwill) (Details)	12 Months Ended
	Dec. 31, 2016 reporting_unit Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of distinct operating segments through which we internally conduct and manage our operations	1
Number of distinct operating segments through which we report our operations	1
Number of reportable business segments and units to which goodwill is attributed (reporting unit) \| reporting_unit	1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. (Stock-based compensation) (Details)	12 Months Ended
	Dec. 31, 2016 share_based_compensation_plan $ / shares shares	Dec. 31, 2015 $ / shares	Dec. 31, 2014 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Grant-date fair value per option awarded (in dollars per share) \| $ / shares	$ 10.62	$ 17.35	$ 21.12
Stock compensation plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant (shares) \| shares	14,490,787
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life in years	6 years 9 months	7 years	7 years
Expected volatility	20.00%	27.00%	30.00%
Dividend yield	2.50%	2.40%	2.20%
Risk-free interest rate	1.60%	1.90%	2.20%
Employee stock-based compensation programs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stockholder-approved plans (plans)	3
Employee stock-based compensation programs [Member] \| Restricted shares and restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Graded vesting period	5 years 6 months
Employee stock-based compensation programs [Member] \| Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Graded vesting period	5 years 6 months
Term	10 years
Non-employee director plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stockholder-approved plans (plans)	1
Non-employee director plans [Member] \| Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term	10 years
Minimum [Member] \| Non-employee director plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Graded vesting period	6 months
Maximum [Member] \| Non-employee director plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Graded vesting period	1 year

CASH EQUIVALENTS. (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Cash and Cash Equivalents [Abstract]
Cash equivalent investments in sponsored money market mutual funds	$ 1,052.3	$ 997.5

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Receivables) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Receivables from sponsored mutual funds
Accounts receivable for advisory fees and advisory-related administrative services	$ 455.1	$ 446.0
Sponsored U.S. mutual funds and other sponsored investment portfolios [Member]
Receivables from sponsored mutual funds
Accounts receivable for advisory fees and advisory-related administrative services	$ 303.1	$ 287.1

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Investment Advisory Services) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue and Services [Line Items]
Revenues from advisory services	$ 3,728.7	$ 3,687.3	$ 3,464.5
Average assets under management	778,200.0	767,900.0	724,700.0
Period end assets under management	810,800.0	763,100.0
Sponsored U.S. mutual funds [Member]
Revenue and Services [Line Items]
Revenues from advisory services	2,705.4	2,667.9	2,485.8
Average assets under management	495,500.0	493,600.0	460,900.0
Period end assets under management	514,200.0	487,100.0
Sponsored U.S. mutual funds [Member] \| Stock and blended asset [Member]
Revenue and Services [Line Items]
Revenues from advisory services	2,228.1	2,241.9	2,086.0
Average assets under management	386,100.0	387,800.0	359,300.0
Period end assets under management	401,300.0	383,000.0
Sponsored U.S. mutual funds [Member] \| Bond and money market [Member]
Revenue and Services [Line Items]
Revenues from advisory services	477.3	426.0	399.8
Average assets under management	109,400.0	105,800.0	101,600.0
Period end assets under management	112,900.0	104,100.0
Other investment portfolios [Member]
Revenue and Services [Line Items]
Revenues from advisory services	1,023.3	1,019.4	978.7
Average assets under management	282,700.0	274,300.0	263,800.0
Period end assets under management	296,600.0	276,000.0
Other investment portfolios [Member] \| Stock and blended asset [Member]
Revenue and Services [Line Items]
Revenues from advisory services	850.3	862.2	824.5
Average assets under management	211,100.0	210,300.0	201,600.0
Period end assets under management	220,800.0	209,800.0
Other investment portfolios [Member] \| Bond, money market, and stable value [Member]
Revenue and Services [Line Items]
Revenues from advisory services	173.0	157.2	154.2
Average assets under management	71,600.0	64,000.0	62,200.0
Period end assets under management	75,800.0	66,200.0
Other sponsored investment portfolios [Member]
Revenue and Services [Line Items]
Revenues from advisory services	386.0	367.8	313.4
Waived money market related fees [Member]
Revenue and Services [Line Items]
Revenues from advisory services	$ 10.5	$ 47.6	$ 58.4

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Revenues and Services Concentration) (Details)	Dec. 31, 2016	Dec. 31, 2015
Outside U.S. [Member] \| Assets under management [Member] \| Investment advisory clients [Member] \| Geographic concentration [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	4.70%	4.90%

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Other Fees Earned from Sponsored U.S. Mutual Funds) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue and Services [Line Items]
Administrative fees	$ 352.5	$ 361.8	$ 374.0
Distribution and servicing fees	141.7	151.5	143.6
Sponsored U.S. mutual funds [Member]
Revenue and Services [Line Items]
Administrative fees	277.3	292.8	296.1
Distribution and servicing fees	$ 141.7	$ 151.5	$ 143.6

INVESTMENTS. (Investments) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investment [Line Items]
Available-for-sale sponsored investment portfolios	$ 709.0	$ 1,612.3
Trading investments	75.4	25.8
Cost method investments	73.6	69.4
U.S. Treasury note	1.0	1.0
Total	1,257.5	1,961.2
(Loss) gain recognized as a result of reclassifications into non-operating income	227.1	103.5	$ 112.2
Residual interest after deconsolidation	338.2
Sponsored investment portfolios [Member]
Investment [Line Items]
Equity method investments	252.3	113.7
Interest in UTI Asset Management Company Limited (India) [Member]
Investment [Line Items]
Equity method investments	$ 140.9	$ 132.8
Equity method investment (ownership percentage)	26.00%	26.00%
Investment partnerships [Member]
Investment [Line Items]
Equity method investments	$ 5.3	$ 6.2
Currency translation adjustments [Member] \| Reclassification out of accumulated other comprehensive income [Member]
Investment [Line Items]
(Loss) gain recognized as a result of reclassifications into non-operating income	$ 2.2	$ (5.8)	$ 0.0

INVESTMENTS. (Available-For-Sale Sponsored Investment Portfolios) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Aggregate cost	$ 626.2	$ 1,419.1
Unrealized holding gains	89.7	219.4
Unrealized holding losses	(6.9)	(26.2)
Aggregate fair value	709.0	1,612.3
Stock and blended asset funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Aggregate cost	162.9	428.6
Unrealized holding gains	88.0	180.3
Unrealized holding losses	(1.9)	(9.1)
Aggregate fair value	249.0	599.8
Bond funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Aggregate cost	463.3	990.5
Unrealized holding gains	1.7	39.1
Unrealized holding losses	(5.0)	(17.1)
Aggregate fair value	$ 460.0	$ 1,012.5

INVESTMENTS. (Unrealized Losses on Available-For-Sale Sponsored Investment Portfolios) (Details) $ in Millions	Dec. 31, 2016 USD ($) security	Dec. 31, 2015 USD ($) security
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract]
Number of holdings with unrealized holding losses less than 12 months (number of securities) \| security	8	18
Number of holdings with unrealized holding losses 12 months or more (number of securities) \| security	2	4
Total number of holdings with unrealized holding losses (number of securities) \| security	10	22
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized holding losses of holdings that were in a continuous loss for less than 12 months	$ (4.2)	$ (15.8)
Unrealized holding losses of holdings that were in a continuous loss for 12 months or more	(2.7)	(10.4)
Total unrealized holding losses of holdings that were in a continuous loss	(6.9)	(26.2)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Aggregate fair value of holdings with unrealized holding losses for less than 12 months	328.1	419.6
Aggregate fair value of holdings with unrealized holding losses for 12 months or more	169.5	298.6
Total aggregate fair value of holdings with unrealized holding losses	$ 497.6	$ 718.2

INVESTMENTS. (Dividends) (Details) - USD ($) $ in Millions	12 Months Ended
INVESTMENTS. (Dividends) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Dividends excluding capital gain distributions [Member] \| Available-for-sale sponsored investment portfolios [Member]
Net Investment Income [Line Items]
Dividends	$ 8.7	$ 18.1	$ 14.7

INVESTMENTS. (Variable Interest Entities) (Details) - Variable interest entity, not primary beneficiary [Member] $ in Millions	Dec. 31, 2016 USD ($)
Variable Interest Entity [Line Items]
Investment carrying values	$ 149.2
Investment carrying values	149.2
Unfunded capital commitments	46.4
Uncollected investment advisory and administrative fees	5.9
Maximum risk of loss related to nonconsolidated variable interest entities	$ 201.5

FAIR VALUE MEASUREMENTS. (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale sponsored investment portfolios	$ 709.0	$ 1,612.3
Sponsored investment portfolios held as trading	75.4	25.8
Level 1 [Member] \| Fair value, measurements, recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,052.3	997.5
Available-for-sale sponsored investment portfolios	709.0	1,612.3
Sponsored investment portfolios held as trading	60.3	25.8
Total	1,821.6	2,635.6
Level 2 [Member] \| Fair value, measurements, recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0.0	0.0
Available-for-sale sponsored investment portfolios	0.0	0.0
Sponsored investment portfolios held as trading	15.1	0.0
Total	$ 15.1	$ 0.0

CONSOLIDATED SPONSORED INVESTMENT PORTFOLIOS. (Net Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 1,204.9	$ 1,172.3
Investments	1,257.5	1,961.2
Other assets	346.2	196.9
Total assets	6,225.0	5,106.9
Liabilities	529.2	344.9
Attributable to redeemable non-controlling interests	687.2	0.0	$ 0.0	$ 0.0
Consolidated sponsored investment portfolios [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	65.6
Net assets	1,614.9
Attributable to redeemable non-controlling interests	687.2
Attributable to T. Rowe Price Group	927.7
Consolidated sponsored investment portfolios [Member] \| Reportable entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	65.6	0.0
Investments	1,559.9
Other assets	55.0
Total assets	1,680.5
Liabilities	65.6
Net assets	1,614.9
Voting interest entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Net assets	225.6
Attributable to redeemable non-controlling interests	69.5
Attributable to T. Rowe Price Group	156.1
Voting interest entities [Member] \| Reportable entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	10.3	0.0
Investments	219.3
Other assets	4.8
Total assets	234.4
Liabilities	8.8
Net assets	225.6
Variable interest entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Net assets	1,389.3
Attributable to redeemable non-controlling interests	617.7
Attributable to T. Rowe Price Group	771.6
Variable interest entities [Member] \| Reportable entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	55.3	$ 0.0
Investments	1,340.6
Other assets	50.2
Total assets	1,446.1
Liabilities	56.8
Net assets	$ 1,389.3

CONSOLIDATED SPONSORED INVESTMENT PORTFOLIOS. (Operating Results) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Income Statements, Captions [Line Items]
Operating expenses									$ (2,489.5)	$ (2,301.7)	$ (2,091.2)
Income before income taxes									1,960.5	2,002.4	2,003.1
Net income attributable to redeemable non-controlling interests									39.0	0.0	0.0
Investment advisory and administrative fees	$ (1,091.2)	$ (1,092.9)	$ (1,044.7)	$ (994.1)	$ (1,052.2)	$ (1,049.0)	$ (1,072.4)	$ (1,027.0)	(4,222.9)	$ (4,200.6)	$ (3,982.1)
Consolidation eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Operating expenses									6.5
Investment advisory and administrative fees									6.5
Consolidated sponsored investment portfolios [Member]
Condensed Income Statements, Captions [Line Items]
Income before income taxes									108.1
Net income attributable to T. Rowe Price Group									69.1
Net income attributable to redeemable non-controlling interests									39.0
Consolidated sponsored investment portfolios [Member] \| Reportable entities [Member]
Condensed Income Statements, Captions [Line Items]
Operating expenses									(13.0)
Net investment non-operating income									121.1
Income before income taxes									108.1
Voting interest entities [Member]
Condensed Income Statements, Captions [Line Items]
Income before income taxes									20.9
Net income attributable to T. Rowe Price Group									15.0
Net income attributable to redeemable non-controlling interests									5.9
Voting interest entities [Member] \| Reportable entities [Member]
Condensed Income Statements, Captions [Line Items]
Operating expenses									(1.6)
Net investment non-operating income									22.5
Income before income taxes									20.9
Variable interest entities [Member]
Condensed Income Statements, Captions [Line Items]
Income before income taxes									87.2
Net income attributable to T. Rowe Price Group									54.1
Net income attributable to redeemable non-controlling interests									33.1
Variable interest entities [Member] \| Reportable entities [Member]
Condensed Income Statements, Captions [Line Items]
Operating expenses									(11.4)
Net investment non-operating income									98.6
Income before income taxes									$ 87.2

CONSOLIDATED SPONSORED INVESTMENT PORTFOLIOS. (Statement of Cash Flows) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Condensed Cash Flow Statements, Captions [Line Items]

Net cash provided by (used in) operating activities

^[1]

$ 170.5

$ 1,530.5

$ 1,343.9

Net cash provided by (used in) investing activities

^[1]

106.2

109.0

(443.4)

Net cash provided by (used in) financing activities

^[1]

(176.4)

(1,973.3)

(792.4)

Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment portfolios

^[1]

(2.1)

0.0

Net change in cash and cash equivalents during period

^[1]

98.2

(333.8)

$ 108.1

1,172.3

Consolidation eliminations [Member]

1,204.9

1,172.3

Condensed Cash Flow Statements, Captions [Line Items]

Net cash provided by (used in) operating activities

(6.6)

Net cash provided by (used in) investing activities

284.5

Net cash provided by (used in) financing activities

(277.9)

Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment portfolios

0.0

Net change in cash and cash equivalents during period

0.0

Consolidated sponsored investment portfolios [Member]

Condensed Cash Flow Statements, Captions [Line Items]

Consolidated sponsored investment portfolios [Member] | Reportable entities [Member]

65.6

Condensed Cash Flow Statements, Captions [Line Items]

Net cash provided by (used in) operating activities

(1,166.6)

Net cash provided by (used in) investing activities

41.4

Net cash provided by (used in) financing activities

1,192.9

Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment portfolios

(2.1)

Net change in cash and cash equivalents during period

65.6

0.0

Voting interest entities [Member] | Reportable entities [Member]

65.6

0.0

Condensed Cash Flow Statements, Captions [Line Items]

Net cash provided by (used in) operating activities

(80.1)

Net cash provided by (used in) investing activities

21.6

Net cash provided by (used in) financing activities

68.8

Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment portfolios

0.0

Net change in cash and cash equivalents during period

10.3

0.0

Variable interest entities [Member] | Reportable entities [Member]

10.3

0.0

Condensed Cash Flow Statements, Captions [Line Items]

Net cash provided by (used in) operating activities

(1,086.5)

Net cash provided by (used in) investing activities

19.8

Net cash provided by (used in) financing activities

1,124.1

Effect of exchange rate changes on cash and cash equivalents of consolidated sponsored investment portfolios

(2.1)

Net change in cash and cash equivalents during period

55.3

0.0