Company: TROW
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001113169-25-000007
Chunk: 122

Company: PRICE T ROWE GROUP INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 122
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 2024, and $699.0 million at December 31, 2023 were held by our subsidiaries located outside the U.S. Our cash and discretionary investment portfolio experienced market gains of $148.7 million in 2024 and $140.8 million in 2023. Given the availability of our financial resources and cash expected to be generated through future operations, we do not maintain an available external source of additional liquidity. 

Our seed capital investments are redeemable, although we generally expect to be invested for several years for the products to build an investment performance history and until unrelated third-party investors substantially reduce our relative ownership percentage. 

The cash and investment presentation on the consolidated balance sheet is based on how we account for the cash or investment. The following table details how our interests in cash and investments relate to where they are presented in the consolidated balance sheet as of December 31, 2024.

(in millions)Cash and cash equivalentsInvestmentsNet assets of consolidated investment products(1)TotalCash and discretionary investments$2,649.8 $319.6 $137.5 $3,106.9 Seed capital investments— 391.6 870.7 1,262.3 Investments used to hedge the deferred compensation liabilities— 1,081.2 29.7 1,110.9 Total cash and investments in T. Rowe Price products attributable to T. Rowe Price Group, Inc.2,649.8 1,792.4 1,037.9 5,480.1 Investments in affiliated private investment funds(2)— 696.8 — 696.8 Investments in CLOs— 67.4 — 67.4 Investment in UTI and other investments— 443.9 — 443.9 Total cash and investments attributable to T. Rowe Price Group, Inc.2,649.8 3,000.5 1,037.9 6,688.2 Redeemable non-controlling interests— — 944.0 944.0 As reported on consolidated balance sheet at December 31, 2024$2,649.8 $3,000.5 $1,981.9 $7,632.2 

(1)The consolidated investment products are generally those products we provided seed capital at the time of their formation and we have a controlling interest. The $1