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GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Schedule of Intangible Assets and Goodwill [Line Items]
Goodwill	$ 2,642.8	$ 2,642.8
Total	2,903.3	2,917.0
Investment advisory agreements
Schedule of Intangible Assets and Goodwill [Line Items]
Definite-lived intangible assets - investment advisory agreements	112.2	125.9
Trade Names
Schedule of Intangible Assets and Goodwill [Line Items]
Indefinite-lived intangible assets - trade name	86.0	86.0
Investment advisory agreements
Schedule of Intangible Assets and Goodwill [Line Items]
Indefinite-lived intangible assets - trade name	$ 62.3	$ 62.3

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 1.30	$ 1.27

UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Millions

Total

Restricted stock units

Total stockholders’ equity attributable to T. Rowe Price Group

Restricted stock units

Common stock

Restricted stock units

Additional capital in excess of par value

Restricted stock units

Retained earnings

AOCI

^[1]

Non-controlling interests in consolidated entities

Beginning balances (in shares) at Dec. 31, 2024

222,966

Beginning balances at Dec. 31, 2024

$ 10,506.1

$ 10,345.4

$ 44.6

$ 311.9

$ 10,040.6

$ (51.7)

$ 160.7

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income (loss)

490.1

490.5

(0.4)

Other comprehensive income (loss), net of tax

(0.2)

Dividends declared

(288.8)

Common stock-based compensation plans activity:

Shares issued upon option exercises (in shares)

231

Shares issued upon option exercises

15.2

Net shares issued upon vesting of restricted stock units (in shares)

Net shares issued upon vesting of restricted stock units

$ (0.2)

Stock-based compensation expense

50.3

Restricted stock units issued as dividend equivalents

0.1

(0.1)

Common shares repurchased (in shares)

(2,141)

Common shares repurchased

(217.5)

$ (0.4)

(217.1)

Net contributions from non-controlling interests in consolidated entities

0.1

Ending balances (in shares) at Mar. 31, 2025

221,061

Ending balances at Mar. 31, 2025

10,555.1

10,394.7

$ 44.2

160.2

10,242.2

(51.9)

160.4

Beginning balances attributable to redeemable non-controlling interests at Dec. 31, 2024

944.0

Increase (Decrease) in Temporary Equity [Roll Forward]

Net income (loss)

14.6

Other comprehensive income (loss), net of tax

3.1

Net subscriptions into T. Rowe Price investment products

90.6

Net deconsolidations of T. Rowe Price investment products

(75.1)

Ending balances attributable to redeemable non-controlling interests at Mar. 31, 2025

977.2

Beginning balances (in shares) at Dec. 31, 2025

218,565

Beginning balances at Dec. 31, 2025

11,017.2

10,860.1

$ 43.8

0.0

10,866.8

(50.5)

157.1

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income (loss)

509.6

498.2

11.4

Other comprehensive income (loss), net of tax

(1.1)

Dividends declared

(288.4)

Common stock-based compensation plans activity:

Shares issued upon option exercises (in shares)

Shares issued upon option exercises

0.3

Net shares issued upon vesting of restricted stock units (in shares)

Net shares issued upon vesting of restricted stock units

$ (0.2)

Stock-based compensation expense

49.1

Restricted stock units issued as dividend equivalents

0.2

(0.2)

Common shares repurchased (in shares)

(3,694)

Common shares repurchased

(340.4)

$ (0.7)

(49.4)

(290.3)

Net distributions to non-controlling interests in consolidated entities

(10.9)

Ending balances (in shares) at Mar. 31, 2026

214,880

Ending balances at Mar. 31, 2026

10,935.2

$ 10,777.6

$ 43.1

$ 0.0

$ 10,786.1

$ (51.6)

$ 157.6

Beginning balances attributable to redeemable non-controlling interests at Dec. 31, 2025

1,036.0

Increase (Decrease) in Temporary Equity [Roll Forward]

Net income (loss)

(14.1)

Other comprehensive income (loss), net of tax

(0.7)

Net subscriptions into T. Rowe Price investment products

117.1

Net deconsolidations of T. Rowe Price investment products

(198.1)

Ending balances attributable to redeemable non-controlling interests at Mar. 31, 2026

$ 940.2

[1]	Accumulated other comprehensive income

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisition-related amortization and impairment costs	$ (13.7)	$ 24.4

CONSOLIDATED INVESTMENT PRODUCTS

3 Months Ended

Mar. 31, 2026

Consolidated Investment Portfolios [Abstract]

CONSOLIDATED INVESTMENT PRODUCTS

CONSOLIDATED INVESTMENT PRODUCTS.

The investment products 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. mutual funds and certain other products 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 investment products:


	3/31/2026						12/31/2025
(in millions)	Voting interest entities		Variable interest entities		Total		Voting interest entities		Variable interest entities		Total
Cash and cash equivalents(1)	$	5.3	$	61.3	$	66.6	$	3.0	$	36.1	$	39.1
Investments(2)	382.6		1,466.7		1,849.3		344.3		1,541.2		1,885.5
Other assets	15.8		22.8		38.6		7.6		18.8		26.4
Total assets	403.7		1,550.8		1,954.5		354.9		1,596.1		1,951.0
Liabilities	15.5		98.0		113.5		7.1		14.2		21.3
Net assets	$	388.2	$	1,452.8	$	1,841.0	$	347.8	$	1,581.9	$	1,929.7

Attributable to T. Rowe Price Group	$	276.4	$	624.4	$	900.8	$	269.8	$	623.9	$	893.7
Attributable to redeemable non-controlling interests	111.8		828.4		940.2		78.0		958.0		1,036.0
	$	388.2	$	1,452.8	$	1,841.0	$	347.8	$	1,581.9	$	1,929.7

(1) Cash and cash equivalents includes $3.5 million at March 31, 2026 and $2.5 million at December 31, 2025 of investments in

T. Rowe Price money market mutual funds.

(2) Investments include $86.8 million at March 31, 2026 and $61.7 million at December 31, 2025 of other T. Rowe Price investment products.

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

Since third-party investors in these investment products have no recourse to our credit, our overall risk related to the net assets of consolidated investment products is limited to valuation changes associated with our net interest.

However, we are required to recognize the valuation changes associated with all underlying investments held by these products in our consolidated statements of income and disclose the portion attributable to unrelated third-party investors as net income attributable to redeemable non-controlling interests.

The operating results of the consolidated investment products for the three months ended March 31, 2026 and 2025 are reflected in our unaudited consolidated statements of income as follows:


	Three months ended
	3/31/2026						3/31/2025
(in millions)	Voting interest entities		Variable interest entities		Total		Voting interest entities		Variable interest entities		Total
Operating expenses reflected in net operating income	$	(0.2)	$	(2.5)	$	(2.7)	$	(0.2)	$	(2.3)	$	(2.5)
Net investment income (loss) reflected in non-operating income (loss)	(3.0)		(38.4)		(41.4)		15.1		16.8		31.9
Impact on income before taxes	$	(3.2)	$	(40.9)	$	(44.1)	$	14.9	$	14.5	$	29.4

Net income (loss) attributable to T. Rowe Price Group	$	(2.8)	$	(27.2)	$	(30.0)	$	10.2	$	4.6	$	14.8
Net income (loss) attributable to redeemable non-controlling interests	(0.4)		(13.7)		(14.1)		4.7		9.9		14.6
	$	(3.2)	$	(40.9)	$	(44.1)	$	14.9	$	14.5	$	29.4

The operating expenses of the consolidated investment products are reflected in general, administrative and other expenses. In preparing our unaudited consolidated financial statements, we eliminated operating expenses of $1.1 million and $1.4 million for the three months ended March 31, 2026 and 2025, respectively, against the investment advisory and administrative fees earned from these products. The net investment income (loss) reflected in non-operating income (loss) includes dividend and interest income as well as realized and unrealized gains and losses on the underlying securities held by the consolidated investment products.

The following table details the impact of these consolidated investment products on the individual lines of our unaudited consolidated statements of cash flows.


	Three months ended
	3/31/2026						3/31/2025
(in millions)	Voting interest entities		Variable interest entities		Total		Voting interest entities		Variable interest entities		Total
Net cash provided by (used in) operating activities	$	(80.6)	$	(58.5)	$	(139.1)	$	(79.6)	$	(57.5)	$	(137.1)
Net cash provided by (used in) investing activities	—		(0.5)		(0.5)		0.7		3.0		3.7
Net cash provided by (used in) financing activities	82.9		87.0		169.9		72.1		48.1		120.2
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products	—		(2.8)		(2.8)		—		0.9		0.9
Net change in cash and cash equivalents during period	2.3		25.2		27.5		(6.8)		(5.5)		(12.3)
Cash and cash equivalents at beginning of year	3.0		36.1		39.1		7.2		55.9		63.1
Cash and cash equivalents at end of period	$	5.3	$	61.3	$	66.6	$	0.4	$	50.4	$	50.8

For the three months ended March 31, 2026, the net cash provided by (used in) financing activities includes $38.5 million of net subscriptions we made into the consolidated investment products, net of dividends received. For the three months ended March 31, 2025, the net cash provided by (used in) financing activities included $42.2 million of net subscriptions we made into the consolidated investment products, net of dividends received. These cash flows were eliminated in consolidation.

FAIR VALUE MEASUREMENTS.

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

Level 1 – quoted prices in active markets for identical financial instruments accessible at the reporting date.

Level 2 – observable inputs other than Level 1 quoted prices including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads. 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. The inputs into the determination of fair value require significant management judgment or estimation. Investments in this category generally include investments for which there is not an actively-traded market. There are no level 3 investments at March 31, 2026 and December 31, 2025.

These levels are not necessarily an indication of the risk or liquidity associated with these investment holdings. The following table summarizes the investment holdings held by our consolidated investment products using fair value measurements determined based on the differing levels of inputs.


	3/31/2026				12/31/2025
(in millions)	Level 1		Level 2			Level 1		Level 2
Assets
Cash equivalents	$	4.8	$	—		$	2.8	$	—
Equity securities	339.4		268.8			475.2		376.5
Fixed income securities	—		1,144.2			—		1,002.5
Other investments	1.4		66.4			0.4		30.9
	$	345.6	$	1,479.4		$	478.4	$	1,409.9

Liabilities	$	(0.9)	$	(18.5)		$	(0.3)	$	(5.1)

The fair value hierarchy level table above does not include investments for which fair value is estimated using their measurement alternative. The carrying value of these investments were $29.1 million at March 31, 2026.

At March 31, 2026, we consolidated an affiliated private investment fund that has unfunded capital commitments of $187.9 million of which $44.1 million is attributable to T. Rowe Price Group.

INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

Schedule of Unconsolidated Investments

The carrying values of our investments that are not consolidated investment products are as follows:


(in millions)	3/31/2026		12/31/2025
Investments held at fair value
T. Rowe Price investment products
Discretionary investments	$	459.5	$	463.7
Redeemable seed capital investments	317.3		316.1
Investments used to hedge the deferred compensation liabilities	1,169.8		1,243.3
Investment partnerships and other investments	70.6		154.7
Investments in affiliated collateralized loan obligations	1.8		3.2
Equity method investments


T. Rowe Price investment products - redeemable seed capital investments	18.1		8.3

Investment in UTI Asset Management Company Limited (India)	165.7		162.8
Investments in affiliated private investment funds - carried interest	377.4		390.3
Investments in affiliated private investment funds - seed/co-investment	304.7		304.7

Investment partnerships and other investments	209.3		204.9
Held to maturity
Investments in affiliated collateralized loan obligations	21.5		21.8
Certificates of deposit	50.4		50.4
U.S. Treasury note	1.0		1.0
Total	$	3,167.1	$	3,325.2

Schedule of Net Impact of Deconsolidation and Consolidation on Condensed Consolidated Balance Sheets and Income Statements

The net impact on our unaudited consolidated balance sheets and statements of income as of the dates the products were deconsolidated or reconsolidated is detailed below.


	Three months ended
(in millions)	3/31/2026		3/31/2025
Net decrease in assets of consolidated investment products	$	(255.9)	$	(422.7)
Net decrease in liabilities of consolidated investment products	$	(1.4)	$	(23.5)
Net decrease in redeemable non-controlling interests	$	(198.1)	$	(75.1)

Net gains recognized upon deconsolidation	$	0.2	$	—

Schedule of Maximum Risk of Loss Related to Investments in Variable Interest Entities

Our fair value and equity method investments at March 31, 2026 and 2025 include interests in variable interest entities that we do not consolidate as we are not deemed the primary beneficiary. Our maximum risk of loss related to our involvement with these entities is as follows:


(in millions)	3/31/2026		12/31/2025
Investment carrying values	$	989.7	$	978.7
Unfunded capital commitments	191.9		199.3
Accounts receivable	115.6		113.3
Maximum risk of loss	$	1,297.2	$	1,291.3

Schedule of Total Assets, Liabilities and Non-controlling Interests of Consolidated Variable Interest Entities

The total assets, liabilities and non-controlling interests of these carried interest entities as of March 31, 2026 and December 31, 2025 are as follows:


(in millions)	3/31/2026		12/31/2025
Assets	$	420.6	$	438.7
Liabilities	$	0.7	$	5.8
Non-controlling interest	$	157.6	$	157.1

- Definition

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.

+ References + Details

EARNINGS PER SHARE CALCULATIONS (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Reconciliation

The following table presents the reconciliation of net income attributable to T. Rowe Price Group to net income allocated to our common stockholders and the weighted-average shares that are used in calculating the basic and diluted earnings per share on our common stock. Weighted-average common shares outstanding assuming dilution reflects the potential dilution, determined using the treasury stock method, that could occur if outstanding stock options were exercised and non-participating stock awards vested. No outstanding stock options had an anti-dilutive impact on the diluted earnings per common share calculation in the periods presented.


	Three months ended
(in millions)	3/31/2026		3/31/2025
Net income attributable to T. Rowe Price Group	$	498.2	$	490.5
Less: net income allocated to outstanding restricted stock and stock unit holders	12.5		12.4
Net income allocated to common stockholders	$	485.7	$	478.1

Weighted-average common shares
Outstanding	217.5		222.3
Outstanding assuming dilution	217.6		222.6

CONSOLIDATED INVESTMENT PRODUCTS - Schedule of Operating Results (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	$ (1,176.5)	$ (1,167.6)
Income before income taxes	632.2	667.0
Net income (loss) attributable to redeemable non-controlling interests	(14.1)	14.6
Consolidated T. Rowe Price investment products
Condensed Income Statements, Captions [Line Items]
Income before income taxes	(44.1)	29.4
Net income (loss) attributable to T. Rowe Price Group	(30.0)	14.8
Net income (loss) attributable to redeemable non-controlling interests	(14.1)	14.6
Consolidated T. Rowe Price investment products \| Reportable entities
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(2.7)	(2.5)
Net investment income (loss) reflected in non-operating income (loss)	(41.4)	31.9
Income before income taxes	(44.1)	29.4
Voting interest entities
Condensed Income Statements, Captions [Line Items]
Income before income taxes	(3.2)	14.9
Net income (loss) attributable to T. Rowe Price Group	(2.8)	10.2
Net income (loss) attributable to redeemable non-controlling interests	(0.4)	4.7
Voting interest entities \| Reportable entities
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(0.2)	(0.2)
Net investment income (loss) reflected in non-operating income (loss)	(3.0)	15.1
Income before income taxes	(3.2)	14.9
Variable interest entities
Condensed Income Statements, Captions [Line Items]
Income before income taxes	(40.9)	14.5
Net income (loss) attributable to T. Rowe Price Group	(27.2)	4.6
Net income (loss) attributable to redeemable non-controlling interests	(13.7)	9.9
Variable interest entities \| Reportable entities
Condensed Income Statements, Captions [Line Items]
Operating expenses reflected in net operating income	(2.5)	(2.3)
Net investment income (loss) reflected in non-operating income (loss)	(38.4)	16.8
Income before income taxes	$ (40.9)	$ 14.5

INVESTMENTS - Schedule of Carrying Value of Investments (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Debt and Equity Securities, FV-NI [Line Items]
Total	$ 3,167.1	$ 3,325.2
Certificates of deposit
Debt and Equity Securities, FV-NI [Line Items]
Held to maturity	50.4	50.4
U.S. Treasury note
Debt and Equity Securities, FV-NI [Line Items]
Held to maturity	1.0	1.0
Discretionary investments
Debt and Equity Securities, FV-NI [Line Items]
Investments held at fair value	459.5	463.7
Redeemable seed capital investments
Debt and Equity Securities, FV-NI [Line Items]
Investments held at fair value	317.3	316.1
Equity method investments	18.1	8.3
Investments used to hedge the deferred compensation liabilities
Debt and Equity Securities, FV-NI [Line Items]
Investments held at fair value	1,169.8	1,243.3
Investment in UTI Asset Management Company Limited (India)
Debt and Equity Securities, FV-NI [Line Items]
Equity method investments	165.7	162.8
Investments in affiliated private investment funds - carried interest
Debt and Equity Securities, FV-NI [Line Items]
Equity method investments	377.4	390.3
Investments in affiliated private investment funds - seed/co-investment
Debt and Equity Securities, FV-NI [Line Items]
Equity method investments	304.7	304.7
Investment partnerships and other investments
Debt and Equity Securities, FV-NI [Line Items]
Investments held at fair value	70.6	154.7
Equity method investments	209.3	204.9
Investments in affiliated collateralized loan obligations
Debt and Equity Securities, FV-NI [Line Items]
Investments held at fair value	1.8	3.2
Held to maturity	$ 21.5	$ 21.8

FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents held in money market funds	$ 3,316.6	$ 3,049.0
Other investments	0.8	0.3
Investments in affiliated collateralized loan obligations	0.0	0.0
Total	5,208.0	5,014.9
Level 1 \| Discretionary investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	459.5	463.7
Level 1 \| Redeemable seed capital investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	261.3	258.6
Level 1 \| Investments used to hedge the deferred compensation liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	1,169.8	1,243.3
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents held in money market funds	0.0	0.0
Other investments	0.0	0.0
Investments in affiliated collateralized loan obligations	1.8	3.2
Total	57.8	60.7
Level 2 \| Discretionary investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	0.0	0.0
Level 2 \| Redeemable seed capital investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	56.0	57.5
Level 2 \| Investments used to hedge the deferred compensation liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
T. Rowe Price investment products	$ 0.0	$ 0.0

INVESTMENTS - Narrative (Details) € in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($)	Mar. 31, 2025 USD ($)	Mar. 31, 2026 EUR (€)	Dec. 31, 2025 USD ($)	Dec. 31, 2025 EUR (€)
Debt and Equity Securities, FV-NI [Line Items]
Net unrealized losses on T. Rowe Price investments product recognized in nonoperating income	$ (52.9)	$ (27.3)
Investments in affiliated collateralized loan obligations
Debt and Equity Securities, FV-NI [Line Items]
Secured debt, repurchase agreements	$ 21.5		€ 18.6	$ 21.8	€ 18.6
Investments in affiliated collateralized loan obligations \| Minimum
Debt and Equity Securities, FV-NI [Line Items]
Investment interest rate	3.00%		3.00%
Investments in affiliated collateralized loan obligations \| Maximum
Debt and Equity Securities, FV-NI [Line Items]
Investment interest rate	10.90%		10.90%
Variable interest entity, not primary beneficiary
Debt and Equity Securities, FV-NI [Line Items]
Unfunded capital commitments	$ 191.9			$ 199.3

- Definition

Rate of interest on investment.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 55
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+ Details

INVESTMENTS - Schedule of Deconsolidation Impacts on Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Debt and Equity Securities, FV-NI [Line Items]
Net decrease in assets of consolidated investment products	$ (255.9)	$ (422.7)
Net decrease in liabilities of consolidated investment products	(1.4)	(23.5)
Net decrease in redeemable non-controlling interests	(198.1)	(75.1)
Net gains recognized upon deconsolidation	(48.3)	70.7
Reclassification out of accumulated other comprehensive income \| Currency translation adjustments
Debt and Equity Securities, FV-NI [Line Items]
Net gains recognized upon deconsolidation	$ 0.2	$ 0.0

BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PREPARATION AND 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 globally to individual and institutional investors that invest in a broad range of investment solutions across equity, fixed income, multi-asset, and alternatives capabilities. We also provide certain 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; trust services; and other advisory services. The investment solutions are provided in a number of vehicles including the T. Rowe Price U.S. mutual funds (U.S. mutual funds), subadvised funds, separately managed accounts, collective investment trusts, exchange-traded funds, and other sponsored products. The other sponsored products include: open-ended investment products offered to investors outside the U.S., products offered through variable annuity life insurance plans in the U.S., affiliated private investment funds, business development companies, an interval fund, and collateralized loan obligations. Investment advisory fees 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 unaudited consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States. These principles require the use of estimates and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of our results for the interim periods presented. All such adjustments are of a normal recurring nature. Actual results may vary from our estimates. Certain prior‑period technology-related professional fees and servicing costs have been reclassified from general, administrative, and other costs to technology, occupancy, and facilities costs to conform with current year presentation. The new presentation better aligns the nature of the expenses following our decision to outsource and expand certain technology capabilities through trusted vendor partnerships. The amount reclassified for the first quarter of 2025 was $13.6 million. While the presentation of certain expense categories changed, the reclassifications did not impact previously reported total operating expenses, operating income, net income, or cash flows. The unaudited financial information contained in these consolidated financial statements should be read in conjunction with the consolidated financial statements contained in our 2025 Annual Report. NEWLY ISSUED BUT NOT YET ADOPTED ACCOUNTING GUIDANCE. In November 2024, the FASB issued Accounting Standards Update No. 2024-03 - Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-4): Disaggregation of Income Statement Expenses, which requires disclosures of additional information and disaggregation of certain expenses included in the income statement. The guidance is effective for the firm on January 1, 2027, and allows for either a prospective or retrospective approach on adoption. We are currently evaluating the impact the adoption will have on our financial statements and have not yet determined our transition approach. In September 2025, the FASB issued Accounting Standards Update No. 2025-06 - Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which amends the existing internal-use software guidance. The amendment eliminates the project stage model and clarifies that capitalization of internal-use software costs commences when management has authorized and committed funding for the project and it is probable that software will be completed and used for its intended function. The amendment allows for varying transition approaches and is effective for the firm on January 1, 2028, with early adoption permitted. We are currently evaluating the impact the adoption will have on our financial statements and have not yet determined our transition approach. We have considered all other newly issued accounting guidance that is applicable to our operations and the preparation of our unaudited consolidated financial statements, including those we have not yet adopted. We do not believe that any such guidance has or will have a material effect on our financial position or results of operations.

BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Product Information [Line Items]
General, administrative, and other costs	$ 92.4	$ 89.7
Technology, occupancy, and facility costs	$ 204.4	181.2
Revision of Prior Period, Adjustment
Product Information [Line Items]
General, administrative, and other costs		(13.6)
Technology, occupancy, and facility costs		$ 13.6

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
NAV Per Share
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, current	$ 69.8	$ 154.4

CONSOLIDATED INVESTMENT PRODUCTS - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 3,316.6	$ 3,049.0
Total	5,208.0	5,014.9
Level 1 \| Consolidated T. Rowe Price investment products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	4.8	2.8
Equity securities	339.4	475.2
Fixed income securities	0.0	0.0
Other investments	1.4	0.4
Total	345.6	478.4
Liabilities	(0.9)	(0.3)
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0.0	0.0
Total	57.8	60.7
Level 2 \| Consolidated T. Rowe Price investment products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0.0	0.0
Equity securities	268.8	376.5
Fixed income securities	1,144.2	1,002.5
Other investments	66.4	30.9
Total	1,479.4	1,409.9
Liabilities	$ (18.5)	$ (5.1)

LONG-TERM INCENTIVE COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Roll Forward of Nonvested Restricted Stock Units

The following table summarizes the status of, and changes in, our nonvested restricted stock units during the three months ended March 31, 2026.


	Restricted stock units	Weighted- average fair value
Nonvested at December 31, 2025	5,918,352	$	114.80
Time-based grants	10,421	$	104.71


Vested	(7,293)	$	122.95
Forfeited	(70,508)	$	117.57
Nonvested at March 31, 2026	5,850,972	$	114.74

The following table summarizes changes in the restricted fund units liability, which is reported in deferred compensation liabilities on the unaudited consolidated balance sheet, for the three months ended March 31, 2025 and 2026.



(in millions)	2026		2025
Balance at beginning of period	$	54.7	$	14.7
Amortization of grant date value	18.3		11.8
Amortization of market appreciation (depreciation)	(1.5)		(0.5)
Forfeitures	(0.6)		—

Balance at March 31	$	70.9	$	26.0

Schedule of Future Stock-based Compensation Expense

The following table presents the compensation expense to be recognized over the requisite service period of the stock-based awards outstanding at March 31, 2026. Estimated future compensation expense will change to reflect future grants of restricted stock awards and units, future option grants, changes in the probability of performance thresholds being met and adjustments for actual forfeitures.


(in millions)

Second quarter 2026	$	48.5
Third quarter 2026	42.8
Fourth quarter 2026	37.2
2027	80.3
2028 through 2031	61.4
Total	$	270.2

Schedule of Future Stock-based Compensation Expense to be Recognized over the Remaining Vesting Periods of the Restricted Fund Unit Awards

The following table presents the compensation expense to be recognized over the requisite service period of the restricted fund units outstanding at March 31, 2026. Estimated future compensation expense will change to reflect future grants, changes in the market value of the restricted fund units, which is based on selected hypothetical investments, and adjustments for actual forfeitures. The grants outstanding will vest by 2030.


(in millions)

Second quarter 2026	$	17.5
Third quarter 2026	17.0
Fourth quarter 2026	13.8
2027	33.6
2028 through 2030	30.2
Total	$	112.1

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES (Tables)

3 Months Ended

Mar. 31, 2026

Information about Receivables, Revenues, and Services [Abstract]

Schedule of Revenues From Advisory Services

Net revenues earned in the first quarter of 2026 and 2025 are included in the table below along with details of investment advisory revenues by underlying asset class. We also included average assets under management by asset class, on which we earn investment advisory fees.


	Three months ended
(in millions)	3/31/2026		3/31/2025
Investment advisory fees
Equity	$	974.7	$	959.2
Fixed income, including money market	111.8		103.6
Multi-asset	509.1		454.7
Alternatives	87.4		80.9
Total investment advisory fees	$	1,683.0	$	1,598.4
Performance-based advisory fees	7.5		10.4
Capital allocation-based income	28.1		(1.2)
Administrative, distribution, servicing, and other fees	138.4		156.3
Net revenues	$	1,857.0	$	1,763.9

Average AUM (in billions):
Equity	$	861.2	$	826.3
Fixed income, including money market	213.7		191.6
Multi-asset	641.8		549.7
Alternatives	59.1		52.7
Average AUM	$	1,775.8	$	1,620.3

INVESTMENTS - Schedule of Total Assets, Liabilities and Non-controlling Interests (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Subsidiary or Equity Method Investee [Line Items]
Assets	$ 14,393.0	$ 14,341.8
Liabilities	2,517.6	2,288.6
Non-controlling interest	157.6	157.1
Variable interest entities
Subsidiary or Equity Method Investee [Line Items]
Assets	420.6	438.7
Liabilities	$ 0.7	$ 5.8

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

LONG-TERM INCENTIVE COMPENSATION - Schedule of Roll Forward of Nonvested Restricted Stock Units (Details)	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Weighted- average fair value
Nonvested, beginning balance (in dollars per share) \| $ / shares	$ 114.80
Time-based grants (in dollars per share) \| $ / shares	104.71
Vested (in dollars per share) \| $ / shares	122.95
Forfeited (in dollars per share) \| $ / shares	117.57
Nonvested, ending balance (in dollars per share) \| $ / shares	$ 114.74
Restricted stock units
Restricted stock units
Nonvested, beginning balance (in shares)	5,918,352
Time-based grants (in shares)	10,421
Vested (in shares)	(7,293)
Forfeited (in shares)	(70,508)
Nonvested, ending balance (in shares)	5,850,972
Restricted stock units \| Performance-based
Restricted stock units
Nonvested, ending balance (in shares)	384,080

EARNINGS PER SHARE CALCULATIONS

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

EARNINGS PER SHARE CALCULATIONS

EARNINGS PER SHARE CALCULATIONS.


	Three months ended
(in millions)	3/31/2026		3/31/2025
Net income attributable to T. Rowe Price Group	$	498.2	$	490.5
Less: net income allocated to outstanding restricted stock and stock unit holders	12.5		12.4
Net income allocated to common stockholders	$	485.7	$	478.1

Weighted-average common shares
Outstanding	217.5		222.3
Outstanding assuming dilution	217.6		222.6

CONSOLIDATED INVESTMENT PRODUCTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Condensed Income Statements, Captions [Line Items]
Operating expenses	$ 1,176.5	$ 1,167.6
Net cash provided by (used in) financing activities	(502.0)	(411.4)
Unfunded capital commitments	44.1
Consolidated T. Rowe Price investment products
Condensed Income Statements, Captions [Line Items]
Unfunded capital commitments	187.9
NAV Per Share
Condensed Income Statements, Captions [Line Items]
Carrying value of investments at measurement alternative	29.1
Consolidation eliminations
Condensed Income Statements, Captions [Line Items]
Operating expenses	(1.1)	(1.4)
Net cash provided by (used in) financing activities	$ 38.5	$ 42.2

RESTRUCTURING CHARGE (Details) - USD ($) $ in Millions	3 Months Ended
RESTRUCTURING CHARGE (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Restructuring and Related Activities [Abstract]
Restructuring charge	$ 10.0	$ 0.0
Restructuring reserve	$ 5.2

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

LONG-TERM INCENTIVE COMPENSATION - Schedule of Restricted Fund Units Liability Compensation Expense (Details) $ in Millions	Mar. 31, 2026 USD ($)
Share-Based Payment Arrangement [Abstract]
Second quarter 2026	$ 17.5
Third quarter 2026	17.0
Fourth quarter 2026	13.8
2027	33.6
2028 through 2030	30.2
Total	$ 112.1

SEGMENT REPORTING (Details)	3 Months Ended
SEGMENT REPORTING (Details)	Mar. 31, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	1

LONG-TERM INCENTIVE COMPENSATION - Schedule of Future Stock-Based Compensation Expense (Details) $ in Millions	Mar. 31, 2026 USD ($)
Share-Based Payment Arrangement [Abstract]
Second quarter 2026	$ 48.5
Third quarter 2026	42.8
Fourth quarter 2026	37.2
2027	80.3
2028 through 2031	61.4
Total	$ 270.2

LONG-TERM INCENTIVE COMPENSATION

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

LONG-TERM INCENTIVE COMPENSATION

LONG-TERM INCENTIVE COMPENSATION.

RESTRICTED STOCK UNITS.

The following table summarizes the status of, and changes in, our nonvested restricted stock units during the three months ended March 31, 2026.


	Restricted stock units	Weighted- average fair value
Nonvested at December 31, 2025	5,918,352	$	114.80
Time-based grants	10,421	$	104.71


Vested	(7,293)	$	122.95
Forfeited	(70,508)	$	117.57
Nonvested at March 31, 2026	5,850,972	$	114.74

Nonvested at March 31, 2026 includes performance-based restricted stock units of 384,080. These nonvested performance-based restricted stock units include 110,794 units for which the performance period has lapsed, and the performance threshold has been met.

FUTURE STOCK-BASED COMPENSATION EXPENSE.


(in millions)

Second quarter 2026	$	48.5
Third quarter 2026	42.8
Fourth quarter 2026	37.2
2027	80.3
2028 through 2031	61.4
Total	$	270.2

RESTRICTED FUND UNITS.



(in millions)	2026		2025
Balance at beginning of period	$	54.7	$	14.7
Amortization of grant date value	18.3		11.8
Amortization of market appreciation (depreciation)	(1.5)		(0.5)
Forfeitures	(0.6)		—

Balance at March 31	$	70.9	$	26.0


(in millions)

Second quarter 2026	$	17.5
Third quarter 2026	17.0
Fourth quarter 2026	13.8
2027	33.6
2028 through 2030	30.2
Total	$	112.1

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	Apr. 28, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	000-32191
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-2264646
Entity Address, Address Line One	1307 Point Street
Entity Address, City or Town	Baltimore
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21231
City Area Code	410
Local Phone Number	345-2000
Title of 12(b) Security	Common Stock, $0.20 par value per share
Trading Symbol	TROW
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding ( in shares)		214,266,606
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2026
Entity Registrant Name	PRICE T ROWE GROUP INC
Entity Central Index Key	0001113169
Amendment Flag	false

GOODWILL AND INTANGIBLE ASSETS - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - Investment advisory agreements - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Remaining 2026	$ 40.9
2027	39.1
2028	11.8
2029	8.8
2030 and after	11.6
Total	$ 112.2	$ 125.9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

SEGMENT REPORTING	3 Months Ended
SEGMENT REPORTING	Mar. 31, 2026
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING. We have one reportable segment: investment management services. We derive our revenue and net income globally and manage business activities on a consolidated basis. We largely derive our revenues and net income from investment advisory services provided to individual and institutional investors. We also provide certain administrative services, including mutual fund transfer agent, fund and product accounting, distribution, and shareholder services; participant recordkeeping and transfer agent services for defined contribution retirement plans; and other advisory services. Our revenues and net income depend largely on the total value and composition of our assets under management, as such, the consideration for our services is generally variable and recognized over time. Our chief operating decision maker (CODM) is the chief executive officer. The CODM utilizes consolidated net income attributable to T. Rowe Price Group as reported on the consolidated statements of income and certain non-GAAP metrics to assess performance and allocate resources. Based on these metrics, the CODM decides either to reinvest profits into the business based on our strategic priorities and/or return cash to stockholders through dividends and share repurchases. We determined there are no significant segment expenses that require a separate disclosure, as the major categories of expenses regularly reviewed by the CODM to manage operations are disclosed in the consolidated statements of income. Quarterly reviews of expenses highlight those influenced by financial markets, such as distribution and servicing costs, as well as those that are both qualitatively and quantitatively significant. The measure of segment assets is reported on the consolidated balance sheet as total assets.

LONG-TERM INCENTIVE COMPENSATION - Restricted Stock Units Narrative (Details) - Restricted stock units - shares	Mar. 31, 2026	Dec. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, equity instruments other than options	5,850,972	5,918,352
Performance-based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, equity instruments other than options	384,080
Nonvested shares where performance threshold has been met (in shares)	110,794

- Definition

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+ Details

BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of accounting	These unaudited consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States.
Use of estimates	Actual results may vary from our estimates.
Reclassifications	Certain prior‑period technology-related professional fees and servicing costs have been reclassified from general, administrative, and other costs to technology, occupancy, and facilities costs to conform with current year presentation. The new presentation better aligns the nature of the expenses following our decision to outsource and expand certain technology capabilities through trusted vendor partnerships. The amount reclassified for the first quarter of 2025 was $13.6 million. While the presentation of certain expense categories changed, the reclassifications did not impact previously reported total operating expenses, operating income, net income, or cash flows.
Newly issued but not yet adopted accounting guidance	NEWLY ISSUED BUT NOT YET ADOPTED ACCOUNTING GUIDANCE. In November 2024, the FASB issued Accounting Standards Update No. 2024-03 - Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-4): Disaggregation of Income Statement Expenses, which requires disclosures of additional information and disaggregation of certain expenses included in the income statement. The guidance is effective for the firm on January 1, 2027, and allows for either a prospective or retrospective approach on adoption. We are currently evaluating the impact the adoption will have on our financial statements and have not yet determined our transition approach. In September 2025, the FASB issued Accounting Standards Update No. 2025-06 - Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which amends the existing internal-use software guidance. The amendment eliminates the project stage model and clarifies that capitalization of internal-use software costs commences when management has authorized and committed funding for the project and it is probable that software will be completed and used for its intended function. The amendment allows for varying transition approaches and is effective for the firm on January 1, 2028, with early adoption permitted. We are currently evaluating the impact the adoption will have on our financial statements and have not yet determined our transition approach. We have considered all other newly issued accounting guidance that is applicable to our operations and the preparation of our unaudited consolidated financial statements, including those we have not yet adopted. We do not believe that any such guidance has or will have a material effect on our financial position or results of operations.

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONSOLIDATED INVESTMENT PRODUCTS - Schedule of Net Assets (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 3,729.8	$ 3,378.2
Investments	3,167.1	3,325.2
Other assets	532.2	611.0
Total assets	14,393.0	14,341.8
Liabilities	2,517.6	2,288.6
Attributable to redeemable non-controlling interests	940.2	1,036.0	$ 977.2	$ 944.0
Consolidated T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Attributable to T. Rowe Price Group	900.8	893.7
Attributable to redeemable non-controlling interests	940.2	1,036.0
Voting interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Attributable to T. Rowe Price Group	276.4	269.8
Attributable to redeemable non-controlling interests	111.8	78.0
Variable interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Total assets	420.6	438.7
Liabilities	0.7	5.8
Attributable to T. Rowe Price Group	624.4	623.9
Attributable to redeemable non-controlling interests	828.4	958.0
Reportable entities \| Consolidated T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	66.6	39.1
Investments	1,849.3	1,885.5
Other assets	38.6	26.4
Total assets	1,954.5	1,951.0
Liabilities	113.5	21.3
Net assets	1,841.0	1,929.7
Reportable entities \| Consolidated T. Rowe Price investment products \| T. Rowe Price investment products
Condensed Balance Sheet Statements, Captions [Line Items]
Investments	86.8	61.7
Reportable entities \| Consolidated T. Rowe Price investment products \| T. Rowe Price investment products \| Money market mutual funds
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	3.5	2.5
Reportable entities \| Voting interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	5.3	3.0
Investments	382.6	344.3
Other assets	15.8	7.6
Total assets	403.7	354.9
Liabilities	15.5	7.1
Net assets	388.2	347.8
Reportable entities \| Variable interest entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	61.3	36.1
Investments	1,466.7	1,541.2
Other assets	22.8	18.8
Total assets	1,550.8	1,596.1
Liabilities	98.0	14.2
Net assets	$ 1,452.8	$ 1,581.9

CONSOLIDATED INVESTMENT PRODUCTS - Schedule of Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 824.3	$ 632.9
Net cash provided by (used in) investing activities	59.6	(47.8)
Net cash provided by (used in) financing activities	(502.0)	(411.4)
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products	(2.8)	0.9
Net change in cash and cash equivalents during period	379.1	174.6
Cash and cash equivalents at beginning of year	3,417.3	2,712.9
Cash and cash equivalents at end of period	3,796.4	2,887.5
Consolidated T. Rowe Price investment products
Condensed Cash Flow Statements, Captions [Line Items]
Cash and cash equivalents at beginning of year	39.1	63.1
Cash and cash equivalents at end of period	66.6	50.8
Consolidated T. Rowe Price investment products \| Reportable entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(139.1)	(137.1)
Net cash provided by (used in) investing activities	(0.5)	3.7
Net cash provided by (used in) financing activities	169.9	120.2
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products	(2.8)	0.9
Net change in cash and cash equivalents during period	27.5	(12.3)
Cash and cash equivalents at beginning of year	39.1	63.1
Cash and cash equivalents at end of period	66.6	50.8
Voting interest entities \| Reportable entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(80.6)	(79.6)
Net cash provided by (used in) investing activities	0.0	0.7
Net cash provided by (used in) financing activities	82.9	72.1
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products	0.0	0.0
Net change in cash and cash equivalents during period	2.3	(6.8)
Cash and cash equivalents at beginning of year	3.0	7.2
Cash and cash equivalents at end of period	5.3	0.4
Variable interest entities \| Reportable entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(58.5)	(57.5)
Net cash provided by (used in) investing activities	(0.5)	3.0
Net cash provided by (used in) financing activities	87.0	48.1
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products	(2.8)	0.9
Net change in cash and cash equivalents during period	25.2	(5.5)
Cash and cash equivalents at beginning of year	36.1	55.9
Cash and cash equivalents at end of period	$ 61.3	$ 50.4

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES. COMMITMENTS. T. Rowe Price Group has committed $249 million for investment in future OHA product launches through 2026. In April, we agreed to extend the commitment to 2030. CONTINGENCIES. Contingent Consideration As part of the purchase consideration for our acquisition of OHA in December 2021, there is contingent consideration in the amount of up to $900 million, payable in cash, that may be due as part of an earnout payment in 2026 and 2027 upon satisfying or exceeding certain defined revenue targets. These defined revenue targets will be evaluated on a cumulative basis from 2022 through 2026. About 22% of the earnout is conditioned upon continued service with T. Rowe Price Group and was excluded from the purchase consideration and deemed compensatory. The fair value of the earnout is remeasured each reporting period and was valued at zero as of March 31, 2026 and December 31, 2025. Other 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 of an adverse determination in one or more of these pending ordinary course of business claims that would have a material adverse effect on our financial position or results of operations is remote.

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Mar. 31, 2026

Stockholders' Equity Note [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Loss)

The changes in each component of accumulated other comprehensive income (loss), including reclassification adjustments, are presented in the table below.



	Three months ended 3/31/2026						Three months ended 3/31/2025
(in millions)	Equity method investments		Consolidated investment products - variable interest entities		Total currency translation adjustments		Equity method investments		Consolidated investment products - variable interest entities		Total currency translation adjustments
Balances at beginning of period	$	(57.4)	$	6.9	$	(50.5)	$	(49.5)	$	(2.2)	$	(51.7)



Other comprehensive income (loss) before reclassifications	(0.6)		(0.7)		(1.3)		(4.3)		4.6		0.3
Reclassification adjustments recognized in non-operating income	—		(0.2)		(0.2)		—		—		—
Other comprehensive income (loss) before income taxes	(0.6)		(0.9)		(1.5)		(4.3)		4.6		0.3
Net deferred tax benefits (income taxes)	0.1		0.3		0.4		0.6		(1.1)		(0.5)
Other comprehensive income (loss)	(0.5)		(0.6)		(1.1)		(3.7)		3.5		(0.2)

Balances at end of period	$	(57.9)	$	6.3	$	(51.6)	$	(53.2)	$	1.3	$	(51.9)

INVESTMENTS

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

INVESTMENTS.

The carrying values of our investments that are not consolidated investment products are as follows:


(in millions)	3/31/2026		12/31/2025
Investments held at fair value
T. Rowe Price investment products
Discretionary investments	$	459.5	$	463.7
Redeemable seed capital investments	317.3		316.1
Investments used to hedge the deferred compensation liabilities	1,169.8		1,243.3
Investment partnerships and other investments	70.6		154.7
Investments in affiliated collateralized loan obligations	1.8		3.2
Equity method investments


T. Rowe Price investment products - redeemable seed capital investments	18.1		8.3

Investment in UTI Asset Management Company Limited (India)	165.7		162.8
Investments in affiliated private investment funds - carried interest	377.4		390.3
Investments in affiliated private investment funds - seed/co-investment	304.7		304.7

Investment partnerships and other investments	209.3		204.9
Held to maturity
Investments in affiliated collateralized loan obligations	21.5		21.8
Certificates of deposit	50.4		50.4
U.S. Treasury note	1.0		1.0
Total	$	3,167.1	$	3,325.2

During the three months ended March 31, 2026 and 2025, certain T. Rowe Price investment products in which we provided initial seed capital at the time of formation were deconsolidated, as we no longer had a controlling interest. Depending on our ownership interest, we report our residual interests in these T. Rowe Price investment products as either an equity method investment or an investment held at fair value. The net impact on our unaudited consolidated balance sheets and statements of income as of the dates the products were deconsolidated or reconsolidated is detailed below.


	Three months ended
(in millions)	3/31/2026		3/31/2025
Net decrease in assets of consolidated investment products	$	(255.9)	$	(422.7)
Net decrease in liabilities of consolidated investment products	$	(1.4)	$	(23.5)
Net decrease in redeemable non-controlling interests	$	(198.1)	$	(75.1)

Net gains recognized upon deconsolidation	$	0.2	$	—

The net gains recognized upon deconsolidation were the result of reclassifying currency translation adjustments accumulated on certain consolidated investment products with non-USD functional currencies from accumulated other comprehensive income to non-operating income.

INVESTMENTS AT FAIR VALUE

The investment partnerships and other investments held at fair value are valued using net asset value (NAV) per share as a practical expedient or using the measurement alternative. Our interests in the investment partnerships are generally not redeemable and are subject to significant transferability restrictions. The underlying investments of these partnerships have contractual terms through 2034, though we may receive distributions of liquidating assets over a longer term. The investment strategies of these partnerships include growth equity, buyout, venture capital, and real estate.

During the three months ended March 31, 2026, we recognized $52.9 million of net unrealized losses on investments held at fair value that were still held at March 31, 2026. For the same period of 2025, we recognized $27.3 million of net unrealized losses on investments held at fair value that were still held at March 31, 2025.

VARIABLE INTEREST ENTITIES.


(in millions)	3/31/2026		12/31/2025
Investment carrying values	$	989.7	$	978.7
Unfunded capital commitments	191.9		199.3
Accounts receivable	115.6		113.3
Maximum risk of loss	$	1,297.2	$	1,291.3

We have unfunded capital commitments, totaling $191.9 million at March 31, 2026 and $199.3 million at December 31, 2025, related primarily to the affiliated private investment funds and the investment partnerships in which we have an existing investment. In addition to such amounts, a percentage of prior distributions may be recalled under certain circumstances.

Investments in affiliated private investment funds - carried interest represent interests in the general partners of affiliated private investment funds that are entitled to a disproportionate allocation of income, also known as carried interest. The entities that hold these interests (carried interest entities) are considered variable interest entities and are consolidated as T. Rowe Price is determined to be the primary beneficiary. The total assets, liabilities and non-controlling interests of these carried interest entities as of March 31, 2026 and December 31, 2025 are as follows:


(in millions)	3/31/2026		12/31/2025
Assets	$	420.6	$	438.7
Liabilities	$	0.7	$	5.8
Non-controlling interest	$	157.6	$	157.1

INVESTMENTS IN AFFILIATED COLLATERALIZED LOAN OBLIGATIONS.

There is debt associated with our investments in affiliated collateralized loan obligations. The debt outstanding is related to repurchase agreements of €18.6 million at March 31, 2026, compared to €18.6 million at December 31, 2025 (equivalent to $21.5 million at March 31, 2026 and $21.8 million at December 31, 2025 at the respective EUR spot rates) that are collateralized by the CLO investments and reported in accounts payable and accrued expenses in our consolidated balance sheets. These repurchase agreements bear interest at rates based on EURIBOR plus the initial margin, which equals all-in rates ranging from 3.0% to 10.9% as of March 31, 2026. The debt matures on various dates through 2035 or if the investments are paid back in full or cancelled, whichever is sooner.

LONG-TERM INCENTIVE COMPENSATION - Schedule of Restricted Fund Units Liability (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Deferred Compensation Arrangement With Individual, Share-Based Payments [Roll Forward]
Balance at beginning of period	$ 1,176.8
Balance at March 31	1,129.2
Restricted Fund Units
Deferred Compensation Arrangement With Individual, Share-Based Payments [Roll Forward]
Balance at beginning of period	54.7	$ 14.7
Amortization of grant date value	18.3	11.8
Amortization of market appreciation (depreciation)	(1.5)	(0.5)
Forfeitures	(0.6)	0.0
Balance at March 31	$ 70.9	$ 26.0

EARNINGS PER SHARE CALCULATIONS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Earnings Per Share [Abstract]
Stock options with anti-diluted impact (in shares)	0	0
Net income attributable to T. Rowe Price Group	$ 498.2	$ 490.5
Less: net income allocated to outstanding restricted stock and stock unit holders (basic)	12.5	12.4
Less: net income allocated to outstanding restricted stock and stock unit holders (diluted)	12.5	12.4
Net income allocated to common stockholders (basic)	485.7	478.1
Net income allocated to common stockholders (diluted)	$ 485.7	$ 478.1
Weighted-average common shares
Outstanding (in shares)	217,500,000	222,300,000
Outstanding assuming dilution (in shares)	217,600,000	222,600,000

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balances	$ 11,017.2	$ 10,506.1
Other comprehensive income (loss) before income taxes	(2.2)	3.4
Net deferred tax benefits (income taxes)	0.4	(0.5)
Total other comprehensive income (loss)	(1.8)	2.9
Ending balances	10,935.2	10,555.1
Consolidated investment products - variable interest entities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification adjustments recognized in non-operating income	(0.2)
Currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balances	(50.5)	(51.7)
Other comprehensive income (loss) before reclassifications	(1.3)	0.3
Reclassification adjustments recognized in non-operating income	(0.2)	0.0
Other comprehensive income (loss) before income taxes	(1.5)	0.3
Net deferred tax benefits (income taxes)	0.4
Total other comprehensive income (loss)	(1.1)	(0.2)
Ending balances	(51.6)	(51.9)
Currency translation adjustments \| Equity method investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balances	(57.4)	(49.5)
Other comprehensive income (loss) before reclassifications	(0.6)	(4.3)
Reclassification adjustments recognized in non-operating income	0.0	0.0
Other comprehensive income (loss) before income taxes	(0.6)	(4.3)
Net deferred tax benefits (income taxes)	0.1	0.6
Total other comprehensive income (loss)	(0.5)	(3.7)
Ending balances	(57.9)	(53.2)
Currency translation adjustments \| Consolidated investment products - variable interest entities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balances	6.9	(2.2)
Other comprehensive income (loss) before reclassifications	(0.7)	4.6
Other comprehensive income (loss) before income taxes	(0.9)	4.6
Net deferred tax benefits (income taxes)	0.3	(1.1)
Total other comprehensive income (loss)	(0.6)	3.5
Ending balances	$ 6.3	$ 1.3

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 3,729.8	$ 3,378.2
Accounts receivable and accrued revenue	909.9	931.2
Investments	3,167.1	3,325.2
Assets of consolidated investment products ($1,550.8 million at March 31, 2026 and $1,596.1 million at March 31, 2025, related to variable interest entities)	1,954.5	1,951.0
Operating lease assets	377.7	382.9
Property, equipment and software, net	818.5	845.3
Intangible assets, net	260.5	274.2
Goodwill	2,642.8	2,642.8
Other assets	532.2	611.0
Total assets	14,393.0	14,341.8
LIABILITIES
Accounts payable and accrued expenses	369.5	352.7
Liabilities of consolidated investment products ($98.0 million at March 31, 2026 and $14.2 million at March 31, 2025, related to variable interest entities)	113.5	21.3
Operating lease liabilities	438.1	447.2
Accrued compensation and related costs	334.9	235.7
Deferred compensation liabilities	1,129.2	1,176.8
Income taxes payable	132.4	54.9
Total liabilities	2,517.6	2,288.6
Commitments and contingent liabilities
Redeemable non-controlling interests	940.2	1,036.0
STOCKHOLDERS' EQUITY
Preferred stock, undesignated, $0.20 par value — authorized and unissued 20,000,000 shares	0.0	0.0
Common stock, $0.20 par value — authorized 750,000,000; issued 214,880,000 shares at March 31, 2026 and 218,565,000 at December 31, 2025	43.1	43.8
Additional capital in excess of par value	0.0	0.0
Retained earnings	10,786.1	10,866.8
Accumulated other comprehensive loss	(51.6)	(50.5)
Total stockholders' equity attributable to T. Rowe Price Group	10,777.6	10,860.1
Non-controlling interests in consolidated entities	157.6	157.1
Total permanent stockholders' equity	10,935.2	11,017.2
Total liabilities, redeemable non-controlling interests, and permanent stockholders' equity	$ 14,393.0	$ 14,341.8

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Mar. 31, 2026	Dec. 31, 2025	Dec. 31, 2021
OHA Acquisition
Other Commitments [Line Items]
Contingent consideration, maximum earnout payment			$ 900,000,000
Percentage of contingent consideration			22.00%
Contingent consideration liability	$ 0	$ 0
OHA Commitments
Other Commitments [Line Items]
Investment commitment, amount	$ 249,000,000

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenues
Net revenues	$ 1,857.0	$ 1,763.9
Operating expenses
Compensation and related costs	659.7	664.5
Distribution and servicing costs	99.3	93.6
Advertising and promotion costs	18.4	26.1
Product and recordkeeping related costs	74.3	83.8
Technology, occupancy, and facility costs	204.4	181.2
General, administrative, and other costs	92.4	89.7
Acquisition-related amortization and impairment costs	18.0	28.7
Restructuring charge	10.0	0.0
Total operating expenses	1,176.5	1,167.6
Net operating income	680.5	596.3
Non-operating income (loss)
Net gains (losses) on investments	(6.1)	31.9
Net gains (losses) on consolidated investment products	(41.4)	31.9
Other gains (losses), including foreign currency gains (losses)	(0.8)	6.9
Total non-operating income (loss)	(48.3)	70.7
Income before income taxes	632.2	667.0
Provision for income taxes	148.1	161.9
Net income	484.1	505.1
Less: net income (loss) attributable to redeemable non-controlling interests	(14.1)	14.6
Net income attributable to T. Rowe Price Group, Inc.	$ 498.2	$ 490.5
Earnings per share on common stock of T. Rowe Price Group, Inc.
Basic (in dollars per share)	$ 2.23	$ 2.15
Diluted (in dollars per share)	$ 2.23	$ 2.15
Investment advisory fees
Revenues
Net revenues	$ 1,683.0	$ 1,598.4
Performance-based advisory fees
Revenues
Net revenues	7.5	10.4
Capital allocation-based income
Revenues
Net revenues	28.1	(1.2)
Administrative, distribution, servicing, and other fees
Revenues
Net revenues	$ 138.4	$ 156.3

GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS.

Goodwill and intangible assets consist of the following:



(in millions)	3/31/2026		12/31/2025
Goodwill	$	2,642.8	$	2,642.8
Indefinite-lived intangible assets - trade name	86.0		86.0
Indefinite-lived intangible assets - investment advisory agreements	62.3		62.3
Definite-lived intangible assets - investment advisory agreements	112.2		125.9
Total	$	2,903.3	$	2,917.0

Amortization and impairment expense for the definite-lived investment advisory agreements intangible assets was $13.7 million and $24.4 million for the three months ended March 31, 2026 and 2025, respectively. Estimated amortization expense for the definite-lived investment advisory agreements intangible assets for the five succeeding years is as follows:


(in millions)
Remaining 2026	$	40.9
2027	39.1
2028	11.8
2029	8.8
2030 and after	11.6
	$	112.2

We evaluate the carrying amount of goodwill in our unaudited consolidated balance sheets for possible impairment on an annual basis in the fourth quarter or if triggering events occur that require us to evaluate for impairment earlier. No triggering events arose during the three months ended March 31, 2026.

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS.

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

Level 1 – quoted prices in active markets for identical financial instruments accessible at the reporting date.

These levels are not necessarily an indication of the risk or liquidity associated with our investments. The following table summarizes our investments and liabilities that are recognized in our unaudited consolidated balance sheets

using fair value measurements determined based on the differing levels of inputs. This table excludes investments held by the consolidated investment products, which are presented separately in our unaudited consolidated balance sheets and are detailed in Note 5.


	3/31/2026				12/31/2025
(in millions)	Level 1		Level 2			Level 1		Level 2
T. Rowe Price investment products
Cash equivalents held in money market funds	$	3,316.6	$	—		$	3,049.0	$	—
Discretionary investments	459.5		—			463.7		—
Redeemable seed capital investments	261.3		56.0			258.6		57.5
Investments used to hedge the deferred compensation liabilities	1,169.8		—			1,243.3		—
Other investments	0.8		—			0.3		—
Investments in affiliated collateralized loan obligations	—		1.8			—		3.2
Total	$	5,208.0	$	57.8		$	5,014.9	$	60.7

The fair value hierarchy level table above does not include the investment partnerships and other investments for which fair value is estimated using their NAV per share as a practical expedient or the measurement alternative. The carrying value of these investments as disclosed in Note 3 were $69.8 million at March 31, 2026 and $154.4 million at December 31, 2025.

- Definition

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.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

INVESTMENTS - Schedule of Variable Interest Entities (Details) - Variable interest entity, not primary beneficiary - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Variable Interest Entity [Line Items]
Investment carrying values	$ 989.7	$ 978.7
Unfunded capital commitments	191.9	199.3
Accounts receivable	115.6	113.3
Maximum risk of loss	$ 1,297.2	$ 1,291.3

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Concentration Risk [Line Items]
Net revenues	$ 1,857.0	$ 1,763.9
Accounts receivable	909.9		$ 931.2
Investment Products
Concentration Risk [Line Items]
Net revenues	1,574.5	$ 1,471.3
Accounts receivable	$ 678.7		$ 664.2
Investment advisory fees \| Outside U.S. \| Assets under management \| Geographic concentration
Concentration Risk [Line Items]
Concentration risk	8.60%		8.80%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES

3 Months Ended

Mar. 31, 2026

Information about Receivables, Revenues, and Services [Abstract]

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.


	Three months ended
(in millions)	3/31/2026		3/31/2025
Investment advisory fees
Equity	$	974.7	$	959.2
Fixed income, including money market	111.8		103.6
Multi-asset	509.1		454.7
Alternatives	87.4		80.9
Total investment advisory fees	$	1,683.0	$	1,598.4
Performance-based advisory fees	7.5		10.4
Capital allocation-based income	28.1		(1.2)
Administrative, distribution, servicing, and other fees	138.4		156.3
Net revenues	$	1,857.0	$	1,763.9

Average AUM (in billions):
Equity	$	861.2	$	826.3
Fixed income, including money market	213.7		191.6
Multi-asset	641.8		549.7
Alternatives	59.1		52.7
Average AUM	$	1,775.8	$	1,620.3

Total net revenues earned from sponsored investment products totaled $1,574.5 million and $1,471.3 million for the three months ended March 31, 2026 and 2025, respectively. Accounts receivable from these products aggregate to $678.7 million at March 31, 2026 and $664.2 million at December 31, 2025.

Investors that we serve are primarily domiciled in the U.S.; investment advisory clients outside the U.S. account for 8.6% at March 31, 2026 and 8.8% at December 31, 2025 of our assets under management.

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Cash and cash equivalents	$ 3,796.4	$ 3,417.3	$ 2,887.5	$ 2,712.9
Consolidated T. Rowe Price investment products
Cash and cash equivalents	$ 66.6	$ 39.1	$ 50.8	$ 63.1

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities
Net income	$ 484.1	$ 505.1
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, amortization and impairment of property, equipment and software	68.8	63.6
Amortization and impairment of acquisition-related assets and retention arrangements	33.9	49.0
Stock-based compensation expense	49.1	50.3
Net (gains) losses recognized on investments	13.6	(8.3)
Net redemptions in investment products used to economically hedge deferred compensation liabilities	39.2	45.9
Net change in securities held by consolidated investment products	(168.9)	(163.0)
Other changes in assets and liabilities	304.5	90.3
Net cash provided by operating activities	824.3	632.9
Cash flows from investing activities
Purchases of sponsored investment products	(10.3)	(73.6)
Dispositions of sponsored investment products	82.6	119.8
Net cash of investment products upon deconsolidation	(0.5)	3.7
Additions to property, equipment and software	(62.0)	(82.0)
Other investing activity	49.8	(15.7)
Net cash provided by (used in) investing activities	59.6	(47.8)
Cash flows from financing activities
Repurchases of common stock	(333.5)	(215.2)
Common share issuances under stock-based compensation plans	0.1	15.2
Dividends paid to common stockholders and equity-unit holders	(289.1)	(289.5)
Net contributions (distributions) to non-controlling interests in consolidated entities	(10.9)	0.1
Net subscriptions from redeemable non-controlling interest holders	131.4	78.0
Net cash used in financing activities	(502.0)	(411.4)
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products	(2.8)	0.9
Net change in cash and cash equivalents during period	379.1	174.6
Cash and cash equivalents at beginning of year	3,417.3	2,712.9
Cash and cash equivalents at end of period	$ 3,796.4	$ 2,887.5

UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Assets of consolidated T. Rowe Price investment products	$ 1,954.5	$ 1,951.0
Liabilities of consolidated T. Rowe Price investment products	$ 113.5	$ 21.3
Preferred stock, par value (in dollars per share)	$ 0.20	$ 0.20
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, par value (in dollars per share)	$ 0.20	$ 0.20
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	214,880,000	218,565,000
Variable interest entities
Assets of consolidated T. Rowe Price investment products	$ 1,550.8	$ 1,596.1
Liabilities of consolidated T. Rowe Price investment products	$ 98.0	$ 14.2

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets

Goodwill and intangible assets consist of the following:



(in millions)	3/31/2026		12/31/2025
Goodwill	$	2,642.8	$	2,642.8
Indefinite-lived intangible assets - trade name	86.0		86.0
Indefinite-lived intangible assets - investment advisory agreements	62.3		62.3
Definite-lived intangible assets - investment advisory agreements	112.2		125.9
Total	$	2,903.3	$	2,917.0

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization expense for the definite-lived investment advisory agreements intangible assets for the five succeeding years is as follows:


(in millions)
Remaining 2026	$	40.9
2027	39.1
2028	11.8
2029	8.8
2030 and after	11.6
	$	112.2

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements

The following table summarizes our investments and liabilities that are recognized in our unaudited consolidated balance sheets


	3/31/2026				12/31/2025
(in millions)	Level 1		Level 2			Level 1		Level 2
T. Rowe Price investment products
Cash equivalents held in money market funds	$	3,316.6	$	—		$	3,049.0	$	—
Discretionary investments	459.5		—			463.7		—
Redeemable seed capital investments	261.3		56.0			258.6		57.5
Investments used to hedge the deferred compensation liabilities	1,169.8		—			1,243.3		—
Other investments	0.8		—			0.3		—
Investments in affiliated collateralized loan obligations	—		1.8			—		3.2
Total	$	5,208.0	$	57.8		$	5,014.9	$	60.7

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Mar. 31, 2026

Stockholders' Equity Note [Abstract]

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS.

The changes in each component of accumulated other comprehensive income (loss), including reclassification adjustments, are presented in the table below.



	Three months ended 3/31/2026						Three months ended 3/31/2025
(in millions)	Equity method investments		Consolidated investment products - variable interest entities		Total currency translation adjustments		Equity method investments		Consolidated investment products - variable interest entities		Total currency translation adjustments
Balances at beginning of period	$	(57.4)	$	6.9	$	(50.5)	$	(49.5)	$	(2.2)	$	(51.7)



Other comprehensive income (loss) before reclassifications	(0.6)		(0.7)		(1.3)		(4.3)		4.6		0.3
Reclassification adjustments recognized in non-operating income	—		(0.2)		(0.2)		—		—		—
Other comprehensive income (loss) before income taxes	(0.6)		(0.9)		(1.5)		(4.3)		4.6		0.3
Net deferred tax benefits (income taxes)	0.1		0.3		0.4		0.6		(1.1)		(0.5)
Other comprehensive income (loss)	(0.5)		(0.6)		(1.1)		(3.7)		3.5		(0.2)

Balances at end of period	$	(57.9)	$	6.3	$	(51.6)	$	(53.2)	$	1.3	$	(51.9)

The other comprehensive income (loss) in the table above excludes net losses of $0.7 million and net gains of $3.1 million for the three months ended March 31, 2026 and 2025, respectively, related to redeemable non-controlling interests held in our consolidated investment products.

CONSOLIDATED INVESTMENT PRODUCTS (Tables)

3 Months Ended

Mar. 31, 2026

Consolidated Investment Portfolios [Abstract]

Schedule of Net Assets of Consolidated T. Rowe Price Investment Portfolios

The following table details the net assets of the consolidated investment products:


	3/31/2026						12/31/2025
(in millions)	Voting interest entities		Variable interest entities		Total		Voting interest entities		Variable interest entities		Total
Cash and cash equivalents(1)	$	5.3	$	61.3	$	66.6	$	3.0	$	36.1	$	39.1
Investments(2)	382.6		1,466.7		1,849.3		344.3		1,541.2		1,885.5
Other assets	15.8		22.8		38.6		7.6		18.8		26.4
Total assets	403.7		1,550.8		1,954.5		354.9		1,596.1		1,951.0
Liabilities	15.5		98.0		113.5		7.1		14.2		21.3
Net assets	$	388.2	$	1,452.8	$	1,841.0	$	347.8	$	1,581.9	$	1,929.7

Attributable to T. Rowe Price Group	$	276.4	$	624.4	$	900.8	$	269.8	$	623.9	$	893.7
Attributable to redeemable non-controlling interests	111.8		828.4		940.2		78.0		958.0		1,036.0
	$	388.2	$	1,452.8	$	1,841.0	$	347.8	$	1,581.9	$	1,929.7

(1) Cash and cash equivalents includes $3.5 million at March 31, 2026 and $2.5 million at December 31, 2025 of investments in

T. Rowe Price money market mutual funds.

(2) Investments include $86.8 million at March 31, 2026 and $61.7 million at December 31, 2025 of other T. Rowe Price investment products.

Schedule of Operating Results of Consolidated T. Rowe Price Investment Portfolios

The operating results of the consolidated investment products for the three months ended March 31, 2026 and 2025 are reflected in our unaudited consolidated statements of income as follows:


	Three months ended
	3/31/2026						3/31/2025
(in millions)	Voting interest entities		Variable interest entities		Total		Voting interest entities		Variable interest entities		Total
Operating expenses reflected in net operating income	$	(0.2)	$	(2.5)	$	(2.7)	$	(0.2)	$	(2.3)	$	(2.5)
Net investment income (loss) reflected in non-operating income (loss)	(3.0)		(38.4)		(41.4)		15.1		16.8		31.9
Impact on income before taxes	$	(3.2)	$	(40.9)	$	(44.1)	$	14.9	$	14.5	$	29.4

Net income (loss) attributable to T. Rowe Price Group	$	(2.8)	$	(27.2)	$	(30.0)	$	10.2	$	4.6	$	14.8
Net income (loss) attributable to redeemable non-controlling interests	(0.4)		(13.7)		(14.1)		4.7		9.9		14.6
	$	(3.2)	$	(40.9)	$	(44.1)	$	14.9	$	14.5	$	29.4

Schedule of Cash flows of Consolidated T. Rowe Price Investment Portfolios

The following table details the impact of these consolidated investment products on the individual lines of our unaudited consolidated statements of cash flows.


	Three months ended
	3/31/2026						3/31/2025
(in millions)	Voting interest entities		Variable interest entities		Total		Voting interest entities		Variable interest entities		Total
Net cash provided by (used in) operating activities	$	(80.6)	$	(58.5)	$	(139.1)	$	(79.6)	$	(57.5)	$	(137.1)
Net cash provided by (used in) investing activities	—		(0.5)		(0.5)		0.7		3.0		3.7
Net cash provided by (used in) financing activities	82.9		87.0		169.9		72.1		48.1		120.2
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products	—		(2.8)		(2.8)		—		0.9		0.9
Net change in cash and cash equivalents during period	2.3		25.2		27.5		(6.8)		(5.5)		(12.3)
Cash and cash equivalents at beginning of year	3.0		36.1		39.1		7.2		55.9		63.1
Cash and cash equivalents at end of period	$	5.3	$	61.3	$	66.6	$	0.4	$	50.4	$	50.8

Schedule of Fair Values of Investments Held by Consolidated T. Rowe Price Investment Portfolios

The following table summarizes the investment holdings held by our consolidated investment products using fair value measurements determined based on the differing levels of inputs.


	3/31/2026				12/31/2025
(in millions)	Level 1		Level 2			Level 1		Level 2
Assets
Cash equivalents	$	4.8	$	—		$	2.8	$	—
Equity securities	339.4		268.8			475.2		376.5
Fixed income securities	—		1,144.2			—		1,002.5
Other investments	1.4		66.4			0.4		30.9
	$	345.6	$	1,479.4		$	478.4	$	1,409.9

Liabilities	$	(0.9)	$	(18.5)		$	(0.3)	$	(5.1)

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Net income	$ 484.1	$ 505.1
Currency translation adjustments
Other comprehensive income (loss) before income taxes	(2.2)	3.4
Net deferred tax (expense) benefit	0.4	(0.5)
Total other comprehensive income (loss)	(1.8)	2.9
Total comprehensive income	482.3	508.0
Less: comprehensive income (loss) attributable to redeemable non-controlling interests	(14.8)	17.7
Comprehensive income attributable to T. Rowe Price Group	497.1	490.3
Consolidated investment products - variable interest entities
Currency translation adjustments
Consolidated investment products—variable interest entities	(1.4)	7.7
Reclassification (gains) losses recognized in non-operating income upon deconsolidation of certain investment products	(0.2)	0.0
Total currency translation adjustments	(1.6)	7.7
Equity method investments
Currency translation adjustments
Total currency translation adjustments	$ (0.6)	$ (4.3)

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES - Schedule of Revenues From Advisory Services (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenue and Services [Line Items]
Net revenues	$ 1,857.0	$ 1,763.9
Investment advisory fees
Revenue and Services [Line Items]
Net revenues	1,683.0	1,598.4
Investment advisory fees \| Assets under management
Revenue and Services [Line Items]
Net revenues	1,775,800.0	1,620,300.0
Performance-based advisory fees
Revenue and Services [Line Items]
Net revenues	7.5	10.4
Capital allocation-based income
Revenue and Services [Line Items]
Net revenues	28.1	(1.2)
Administrative, distribution, servicing, and other fees
Revenue and Services [Line Items]
Net revenues	138.4	156.3
Equity \| Investment advisory fees \| Assets under management
Revenue and Services [Line Items]
Net revenues	861,200.0	826,300.0
Fixed income, including money market \| Investment advisory fees \| Assets under management
Revenue and Services [Line Items]
Net revenues	213,700.0	191,600.0
Multi-asset \| Investment advisory fees \| Assets under management
Revenue and Services [Line Items]
Net revenues	641,800.0	549,700.0
Alternatives \| Investment advisory fees \| Assets under management
Revenue and Services [Line Items]
Net revenues	59,100.0	52,700.0
Investment advisory fees \| Investment advisory fees
Revenue and Services [Line Items]
Net revenues	1,683.0	1,598.4
Investment advisory fees \| Equity \| Investment advisory fees
Revenue and Services [Line Items]
Net revenues	974.7	959.2
Investment advisory fees \| Fixed income, including money market \| Investment advisory fees
Revenue and Services [Line Items]
Net revenues	111.8	103.6
Investment advisory fees \| Multi-asset \| Investment advisory fees
Revenue and Services [Line Items]
Net revenues	509.1	454.7
Investment advisory fees \| Alternatives \| Investment advisory fees
Revenue and Services [Line Items]
Net revenues	$ 87.4	$ 80.9

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Stockholders' Equity Note [Abstract]
Other comprehensive loss, net of tax	$ (0.7)	$ 3.1

RESTRUCTURING CHARGE	3 Months Ended
RESTRUCTURING CHARGE	Mar. 31, 2026
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGE	RESTRUCTURING CHARGE.As separately disclosed in the unaudited consolidated statements of income, we recognized a restructuring charge of $10.0 million, primarily severance, in the first quarter of 2026, related to actions taken under a broad and ongoing expense management program, which is designed to reduce expense growth and realign resources to support investment in existing and future capabilities. At March 31, 2026, we had $5.2 million in accrued compensation and related costs related to this program.