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Price T Rowe Group Inc (TROW) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Price T Rowe Group Inc

CIK: 1113169 Ticker: TROW
1 NEWS RELEASE T. ROWE PRICE GROUP REPORTS FOURTH QUARTER 2017 RESULTS Assets Under Management Increase to $991.1 Billion BALTIMORE (January 30, 2018) - T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported its fourth quarter of 2017 results, including net revenues of $1.3 billion, net income of $347.1 million, and diluted earnings per common share of $1.37. For the fourth quarter of 2016, net revenues were $1.1 billion, net income was $379.8 million, and diluted earnings per common share was $1.50. On a non-GAAP basis, diluted earnings per share for the fourth quarter of 2017 was $1.52, compared with $1.21 in the 2016 quarter. Financial Highlights The table below presents financial results on a U.S. GAAP basis as well as a non-GAAP basis that adjusts for the impact of the Dell appraisal rights matter, the consolidated T. Rowe Price investment products, the supplemental savings plan, other non-operating income, and the non-recurring charge recognized in 2017 related to the enactment of U.S. tax reform. The firm believes the non-GAAP financial measures below provide relevant and meaningful information to investors about its core operating results. Three months ended Year ended (in millions, except per-share data) 12/31/2016 12/31/2017 % change 12/31/2016 12/31/2017 % change U.S. GAAP basis Investment advisory fees $ 966.8 $ 1,156.0 19.6 % $ 3,728.7 $ 4,287.7 15.0 % Net revenues $ 1,091.2 $ 1,286.1 17.9 % $ 4,222.9 $ 4,793.0 13.5 % Operating expenses $ 527.9 $ 755.1 43.0 % $ 2,489.5 $ 2,684.2 7.8 % Net operating income $ 563.3 $ 531.0 (5.7 )% $ 1,733.4 $ 2,108.8 21.7 % Non-operating income(1) $ 12.2 $ 102.0 n/m $ 227.1 $ 396.3 74.5 % Net income attributable to T. Rowe Price Group $ 379.8 $ 347.1 (8.6 )% $ 1,215.0 $ 1,497.8 23.3 % Diluted earnings per common share $ 1.50 $ 1.37 (8.7 )% $ 4.75 $ 5.97 25.7 % Weighted average common shares outstanding assuming dilution 246.8 247.7 .4 % 250.3 245.1 (2.1 ) % Adjusted - non-GAAP basis(2) Operating expenses $ 626.0 ( 3 $ 747.7 ( 3 19.4 % $ 2,416.8 ( 5 $ 2,715.8 ( 5 12.4 % Net income attributable to T. Rowe Price Group $ 304.7 ( 4 ) $ 383.9 ( 4 ) 26.0 % $ 1,148.9 ( 6 ) $ 1,361.1 ( 6 ) 18.5 % Diluted earnings per common share $ 1.21 $ 1.52 25.6 % $ 4.49 $ 5.43 20.9 % Assets under Management (in billions) Average assets under management $ 807.6 $ 976.4 20.9 % $ 778.2 $ 909.0 16.8 % Ending assets under management $ 810.8 $ 991.1 22.2 % $ 810.8 $ 991.1 22.2 % (1) The percentage change in non-operating income for the three-months ended is not meaningful (n/m). (2) See the reconciliation to the comparable U.S. GAAP measures at the end of this earnings release


The following information was filed by Price T Rowe Group Inc (TROW) on Tuesday, January 30, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Price T Rowe Group Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Unaudited Condensed Consolidated Balance Sheets
Unaudited Condensed Consolidated Balance Sheets (Parenthetical)
Unaudited Condensed Consolidated Statement Of Stockholders' Equity
Unaudited Condensed Consolidated Statements Of Cash Flows
Unaudited Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Unaudited Condensed Consolidated Statements Of Comprehensive Income
Unaudited Condensed Consolidated Statements Of Income
Commitments And Contingencies.
Consolidated T. Rowe Price Investment Products.
Consolidated T. Rowe Price Investment Products. (Fair Value Measurements) (Details)
Consolidated T. Rowe Price Investment Products. (Net Assets) (Details)
Consolidated T. Rowe Price Investment Products. (Operating Results) (Details)
Consolidated T. Rowe Price Investment Products. (Statement Of Cash Flows) (Details)
Consolidated T. Rowe Price Investment Products. (Tables)
Dell Appraisal Rights Matter.
Dell Appraisal Rights Matter. (Details)
Earnings Per Share Calculations.
Earnings Per Share Calculations. (Details)
Earnings Per Share Calculations. (Tables)
Fair Value Measurements.
Fair Value Measurements. (Details)
Fair Value Measurements. (Tables)
Information About Receivables, Revenues, And Services.
Information About Receivables, Revenues, And Services. (Investment Advisory Services) (Details)
Information About Receivables, Revenues, And Services. (Services Concentration And Receivables) (Details)
Information About Receivables, Revenues, And Services. (Tables)
Investments.
Investments. (Investments) (Details)
Investments. (Tables)
Investments. (Variable Interest Entities) (Details)
Other Comprehensive Income And Accumulated Other Comprehensive Income.
Other Comprehensive Income And Accumulated Other Comprehensive Income. (Accumulated Other Comprehensive Income (Loss)) (Details)
Other Comprehensive Income And Accumulated Other Comprehensive Income. (Deferred Tax Benefits (Income Taxes)) (Details)
Other Comprehensive Income And Accumulated Other Comprehensive Income. (Reclassification Adjustments) (Details)
Other Comprehensive Income And Accumulated Other Comprehensive Income. (Tables)
Stock-Based Compensation.
Stock-Based Compensation. (Future Stock-Based Compensation Expense) (Details)
Stock-Based Compensation. (Restricted Shares And Stock Units) (Details)
Stock-Based Compensation. (Stock Options) (Details)
Stock-Based Compensation. (Tables)
Stockholders' Equity.
Stockholders' Equity. (Details)
Supplementary Consolidating Cash Flow Statements.
Supplementary Consolidating Cash Flow Statements. (Details)
Supplementary Consolidating Cash Flow Statements. (Tables)
The Company And Basis Of Preparation.
The Company And Basis Of Preparation. (Impact On Condensed Consolidated Statements Of Income) (Details)
The Company And Basis Of Preparation. (Narrative) (Details)
The Company And Basis Of Preparation. (Policies)
The Company And Basis Of Preparation. (Tables)
Ticker: TROW
CIK: 1113169
Form Type: 10-Q Quarterly Report
Accession Number: 0001113169-18-000023
Submitted to the SEC: Thu Oct 25 2018 1:06:58 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Security And Commodity Brokers Dealers Exchanges And Services

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