Company: TROW
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001113169-25-000007
Chunk: 102

Company: PRICE T ROWE GROUP INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 102
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 liabilities and related economic hedges, investment income related to certain other investments, acquisition-related amortization and costs, impairment charges, and certain nonrecurring charges and gains, if any. 

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2024 compared to 20232023 compared to 2022(in millions, except per-share data)202420232022Change% Change (1)Change% Change (1)U.S. GAAP basisInvestment advisory fees(2)$6,399.7 $5,709.5 $5,962.7 $690.2 12.1 %$(253.2)(4.2)%Performance-based advisory fees(2)$59.3 $38.2 $6.4 $21.1 55.2 %$31.8 n/mCapital allocation-based income(3)$46.6 $161.9 $(54.3)$(115.3)n/m$216.2 n/mNet revenues$7,093.6 $6,460.5 $6,488.4 $633.1 9.8 %$(27.9)(0.4)%Operating expenses$4,760.3 $4,474.3 $4,114.7 $286.0 6.4 %$359.6 8.7 %Net operating income$2,333.3 $1,986.2 $2,373.7 $347.1 17.5 %$(387.5)(16.3)%Non-operating income$486.3 $504.1 $(425.5)$(17.8)(3.5)%$929.6 n/mNet income to T. Rowe Price Group$2,100.1 $1,788.7 $1,557.9 $311.4 17.4 %$230.8 14.8 %Diluted earnings per common share $9.15 $7.76 $6.70 $1.39 17.9 %$1.06 15.8 %Adjusted basis(4)Operating expenses$4,498.8 $4,260.7 $4,087.8 $238.1 5.6 %$172.9 4.2 %Operating expenses, excluding accrued carried interest related