$TROW
PRICE T ROWE GROUP INC

2022 Q3 Form 10-Q Financial Statement

#000111316922000017 Filed on July 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.588B $1.513B $1.863B
YoY Change -18.72% -21.58% 1.98%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $923.6M $778.8M $909.3M
YoY Change 4.06% -16.07% 1.87%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $108.5M $107.5M $54.50M
YoY Change 109.86% 113.29% 11.22%
% of Gross Profit
Operating Expenses $1.014B $844.4M $985.6M
YoY Change 5.81% -13.06% 5.57%
Operating Profit $574.6M $668.6M $877.4M
YoY Change -42.32% -30.22% -1.77%
Interest Expense -$83.20M -$279.7M -$192.9M
YoY Change 890.48% -295.32% -286.92%
% of Operating Profit -14.48% -41.83% -21.99%
Other Income/Expense, Net -$82.80M -$279.9M -$198.5M
YoY Change 620.0% -294.51% -294.42%
Pretax Income $491.8M $388.7M $678.9M
YoY Change -50.06% -64.73% -31.79%
Income Tax $134.0M $100.9M $164.5M
% Of Pretax Income 27.25% 25.96% 24.23%
Net Earnings $384.4M $339.6M $567.9M
YoY Change -50.54% -58.37% -24.22%
Net Earnings / Revenue 24.2% 22.45% 30.48%
Basic Earnings Per Share $1.67 $1.47 $2.43
Diluted Earnings Per Share $1.66 $1.46 $2.41
COMMON SHARES
Basic Shares Outstanding 225.7M shares 226.7M shares 228.2M shares
Diluted Shares Outstanding 226.3M shares 227.9M shares 229.8M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.366B $2.116B $1.998B
YoY Change -30.78% -39.8% -29.42%
Cash & Equivalents $2.366B $2.116B $1.998B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $741.4M $773.2M $919.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.108B $2.889B $2.917B
YoY Change -28.72% -34.83% -21.5%
LONG-TERM ASSETS
Property, Plant & Equipment $752.8M $747.3M $736.3M
YoY Change 4.69% 4.27% 4.6%
Goodwill $2.652B $2.652B $2.644B
YoY Change 298.44% 298.44% 297.16%
Intangibles $832.0M $859.1M $886.3M
YoY Change
Long-Term Investments $3.765B $3.871B $4.538B
YoY Change -29.73% -24.72% -15.19%
Other Assets
YoY Change
Total Long-Term Assets $8.886B $8.880B $9.431B
YoY Change 25.31% 29.7% 33.8%
TOTAL ASSETS
Total Short-Term Assets $3.108B $2.889B $2.917B
Total Long-Term Assets $8.886B $8.880B $9.431B
Total Assets $11.99B $11.77B $12.35B
YoY Change 4.74% 4.34% 14.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $382.8M $361.0M $417.3M
YoY Change 23.56% 46.63% 82.23%
Accrued Expenses $1.021B $699.4M $505.4M
YoY Change 21.62% 13.08% 24.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.442B $1.095B $1.137B
YoY Change 19.18% -34.33% 23.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $855.7M $936.4M $1.094B
YoY Change -4.06% 11.62% 32.73%
Total Long-Term Liabilities $855.7M $936.4M $1.094B
YoY Change -4.06% 11.62% 32.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.442B $1.095B $1.137B
Total Long-Term Liabilities $855.7M $936.4M $1.094B
Total Liabilities $2.298B $2.031B $2.231B
YoY Change 9.32% -18.94% 27.98%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $544.1M $699.7M $713.7M
YoY Change -22.25% -2.7% 1.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.908B $8.964B $9.054B
YoY Change
Total Liabilities & Shareholders Equity $11.99B $11.77B $12.35B
YoY Change 4.74% 4.34% 14.71%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $384.4M $339.6M $567.9M
YoY Change -50.54% -58.37% -24.22%
Depreciation, Depletion And Amortization $108.5M $107.5M $54.50M
YoY Change 109.86% 113.29% 11.22%
Cash From Operating Activities $767.6M $623.6M $1.103B
YoY Change -40.44% -22.75% 10.93%
INVESTING ACTIVITIES
Capital Expenditures -$54.40M -$67.90M $54.90M
YoY Change -4.39% 7.78% -6.63%
Acquisitions
YoY Change
Other Investing Activities $10.60M $38.40M -$5.700M
YoY Change -90.26% -61.41% -24.0%
Cash From Investing Activities -$43.80M -$29.50M $3.800M
YoY Change -184.39% -180.82% -112.34%
FINANCING ACTIVITIES
Cash Dividend Paid $279.2M
YoY Change 10.66%
Common Stock Issuance & Retirement, Net $320.1M
YoY Change 23.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -485.7M -486.9M -$644.1M
YoY Change -65.27% 162.9% 109.46%
NET CHANGE
Cash From Operating Activities 767.6M 623.6M $1.103B
Cash From Investing Activities -43.80M -29.50M $3.800M
Cash From Financing Activities -485.7M -486.9M -$644.1M
Net Change In Cash 238.1M 107.2M $460.4M
YoY Change -511.94% -83.72% -29.96%
FREE CASH FLOW
Cash From Operating Activities $767.6M $623.6M $1.103B
Capital Expenditures -$54.40M -$67.90M $54.90M
Free Cash Flow $822.0M $691.5M $1.049B
YoY Change -38.91% -20.54% 12.03%

Facts In Submission

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dei Entity Registrant Name
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PRICE T ROWE GROUP INC
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Investments
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Dividends
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us-gaap Net Cash Provided By Used In Financing Activities
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1314500000 usd
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2187200000 usd
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CY2022Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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CY2022Q2 us-gaap Stock Repurchased During Period Value
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2021Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2021Q2 us-gaap Net Income Loss
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CY2021Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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3800000 usd
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
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CY2021Q2 trow Special Dividends Cash
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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trow Net Income Loss Including Non Controlling Interest Compensation Expense Attributable To Parent
NetIncomeLossIncludingNonControllingInterestCompensationExpenseAttributableToParent
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us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Dividends Cash
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Dividends Sharebased Compensation Paid In Kind
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us-gaap Noncontrolling Interest Decrease From Deconsolidation
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Net Income Loss
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us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Dividends Cash
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trow Special Dividends Cash
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us-gaap Stock Issued During Period Value Stock Options Exercised
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trow Subscription From Redemption Distribution To Noncontrolling Interest
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CY2021Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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us-gaap Use Of Estimates
UseOfEstimates
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.
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q2 us-gaap Assets Under Management Average Balance
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us-gaap Assets Under Management Average Balance
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us-gaap Assets Under Management Average Balance
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CY2021Q4 us-gaap Assets Under Management Carrying Amount
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CY2022Q2 us-gaap Investments
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us-gaap Equity Securities Fv Ni Unrealized Gain Loss
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161200000 usd
CY2022Q2 us-gaap Goodwill
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CY2021Q4 us-gaap Goodwill
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CY2022Q2 us-gaap Intangible Assets Net Including Goodwill
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CY2021Q4 us-gaap Intangible Assets Net Including Goodwill
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CY2022Q1 us-gaap Goodwill
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CY2021Q4 us-gaap Goodwill
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us-gaap Goodwill Purchase Accounting Adjustments
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CY2022Q2 us-gaap Goodwill
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CY2022Q2 us-gaap Goodwill
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CY2022Q2 trow Unsettled Common Stock Repurchases Liabilities
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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146.87
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
132.20
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
132.04
trow Sharebased Compensation Arrangement By Sharebased Payment Award Nonvested Dividend Equivalents Granted To Non Employee Directors Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardNonvestedDividendEquivalentsGrantedToNonEmployeeDirectorsWeightedAverageGrantDateFairValue
110.16
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
142.06
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
147.43
CY2022Q2 trow Employee Service Share Based Compensation Nonvested Awards Compensation Cost To Be Recognized Quarter Three Of Current Fiscal Year
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterThreeOfCurrentFiscalYear
63000000.0 usd
CY2022Q2 trow Employee Service Sharebased Compensation Nonvested Awards Compensation Cost To Be Recognized Quarter Four Of Fiscal Year
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterFourOfFiscalYear
54400000 usd
CY2022Q2 trow Employee Service Sharebased Compensation Nonvested Awards Compensation Cost To Be Recognized Next Fiscal Year
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedNextFiscalYear
125400000 usd
CY2022Q2 trow Employee Service Sharebased Compensation Nonvested Awards Compensation Cost To Be Recognized From Second Fiscal Yearto Vesting
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedFromSecondFiscalYeartoVesting
105000000.0 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
347800000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
339600000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
815700000 usd
us-gaap Net Income Loss
NetIncomeLoss
907500000 usd
us-gaap Net Income Loss
NetIncomeLoss
1565100000 usd
CY2022Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
7400000 usd
CY2022Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
7400000 usd
CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
22200000 usd
CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
22200000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
20400000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
20400000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
42100000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
42100000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
332200000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
332200000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
793500000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
793500000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
887100000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
887100000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1523000000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1523000000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
226700000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
226900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
227500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
227300000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
227900000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
229200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
228800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
229600000 shares
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-15600000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
3800000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-25500000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-8000000.0 usd

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