10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKROCK INC. | |||
Ticker: BLK Fiscal Year: 2015 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenue | |||
| Total investment advisory, administration fees and securities lending revenue | $ 9,840 | 9,589 | 8,739 |
| Investment advisory performance fees | 621 | 550 | 561 |
| BlackRock Solutions and advisory | 646 | 635 | 577 |
| Distribution fees | 55 | 70 | 73 |
| Other revenue | 239 | 237 | 230 |
| Total revenue | 11,401 | 11,081 | 10,180 |
| Expense | |||
| Employee compensation and benefits | 4,005 | 3,829 | 3,560 |
| Distribution and servicing costs | 409 | 364 | 353 |
| Amortization of deferred sales commissions | 48 | 56 | 52 |
| Direct fund expenses | 767 | 748 | 657 |
| General and administration | 1,380 | 1,453 | 1,540 |
| Amortization of intangible assets | 128 | 157 | 161 |
| Total expense | 6,737 | 6,607 | 6,323 |
| Operating income | 4,664 | 4,474 | 3,857 |
| Nonoperating income (expense) | |||
| Net gain (loss) on investments | 58 | 165 | 305 |
| Interest and dividend income | 26 | 29 | 22 |
| Interest expense | (204) | (232) | (211) |
| Total nonoperating income (expense) | (62) | (79) | 116 |
| Income before income taxes | 4,602 | 4,395 | 3,973 |
| Income tax expense | 1,250 | 1,131 | 1,022 |
| Net income | 3,352 | 3,264 | 2,951 |
| Net income (loss) attributable to redeemable noncontrolling interests | 1 | 2 | (1) |
| Net income (loss) attributable to nonredeemable noncontrolling interests | 6 | (32) | 20 |
| Net income attributable to BlackRock, Inc. | 3,345 | 3,294 | 2,932 |
| Earnings per share attributable to BlackRock, Inc. common stockholders: | |||
| Basic | 20.10 | 19.58 | 17.23 |
| Diluted | 19.79 | 19.25 | 16.87 |
| Cash dividends declared and paid per share | 8.72 | 7.72 | 6.72 |
| Weighted-average common shares outstanding: | |||
| Basic | 166,390,009 | 168,225,154 | 170,185,870 |
| Diluted | 169,038,571 | 171,112,261 | 173,828,902 |
| Related Party Transactions By Related Party | |||
| Related Parties | |||
| Total investment advisory, administration fees and securities lending revenue | 6,875 | 6,738 | 5,991 |
| Other Third Parties | |||
| Total investment advisory, administration fees and securities lending revenue | 2,965 | 2,851 | 2,748 |
| Legal Entity | |||
| Consolidated Variable Interest Entities | |||
| Net gain (loss) on investments | 58 | (41) | |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKROCK INC. | |||
Ticker: BLK Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net income | $ 3,352 | 3,264 | 2,951 |
| Other comprehensive income: | |||
| Unrealized holding gains (losses) | (1) [1] | 3 | 4 |
| Less: reclassification adjustment included in net income | 2 | 8 | 13 |
| Net change from available-for-sale investments | (3) | (5) | (9) |
| Benefit plans, net | 1 | (2) | 10 |
| Foreign currency translation adjustments | (173) [2] | (231) | 23 |
| Other comprehensive income (loss) | (175) | (238) | 24 |
| Comprehensive income | 3,177 | 3,026 | 2,975 |
| Less: Comprehensive income (loss) attributable to noncontrolling interests | 7 | (30) | 19 |
| Comprehensive income attributable to BlackRock, Inc. | 3,170 | 3,056 | 2,956 |
| [1] The tax benefit (expense) was not material in 2015, 2014 and 2013. | |||
| [2] (1) Amount for the year ended December 31, 2015 includes gains from a net investment hedge of $19 million, net of tax of $11 million. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKROCK INC. | |||
Ticker: BLK Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash flows from operating activities | |||
| Net income | $ 3,352 | 3,264 | 2,951 |
| Adjustments to reconcile net income to cash flows from operating activities: | |||
| Depreciation and amortization | 247 | 278 | 291 |
| Amortization of deferred sales commissions | 48 | 56 | 52 |
| Stock-based compensation | 514 | 453 | 448 |
| Deferred income tax expense (benefit) | (156) | (104) | (193) |
| Other gains | (40) | 0 | 0 |
| Net (gains) losses on nontrading investments | 12 | (37) | (73) |
| Purchases of investments within consolidated sponsored investment funds | (1) | (160) | (195) |
| Proceeds from sales and maturities of investments within consolidated sponsored investment funds | 2 | 137 | 145 |
| Gain related to PennyMac initial public offering | 0 | 0 | (39) |
| Gain related to the charitable contribution | 0 | 0 | (80) |
| Charitable contribution | 0 | 0 | 124 |
| Assets and liabilities of consolidated VIEs: | |||
| Change in cash and cash equivalents | (98) | 168 | 143 |
| Net (gains) losses within consolidated VIEs | (58) | 41 | 0 |
| Net (purchases) proceeds within consolidated VIEs | (227) | (599) | 142 |
| (Earnings) losses from equity method investees | (91) | (158) | (158) |
| Distributions of earnings from equity method investees | 41 | 57 | 80 |
| Other adjustments | 1 | 5 | 10 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (154) | 78 | 14 |
| Investments, trading | (584) | (416) | (218) |
| Other assets | (123) | 5 | (92) |
| Accrued compensation and benefits | 98 | 101 | 203 |
| Accounts payable and accrued liabilities | 14 | (69) | 7 |
| Other liabilities | 207 | (13) | 80 |
| Cash flows from operating activities | 3,004 | 3,087 | 3,642 |
| Cash flows from investing activities | |||
| Purchases of investments | (330) | (369) | (412) |
| Proceeds from sales and maturities of investments | 456 | 654 | 286 |
| Distributions of capital from equity method investees | 66 | 143 | 83 |
| Net consolidations (deconsolidations) of sponsored investment funds | (163) | (123) | (48) |
| Acquisitions, net of cash acquired | (273) | 0 | (298) |
| Purchases of property and equipment | (221) | (66) | (94) |
| Cash flows from investing activities | (465) | 239 | (483) |
| Cash flows from financing activities | |||
| Repayments of short-term borrowings | 0 | 0 | (100) |
| Repayments of long-term borrowings | (750) | (1,000) | (750) |
| Proceeds from long-term borrowings | 787 | 997 | 0 |
| Cash dividends paid | (1,476) | (1,338) | (1,168) |
| Proceeds from stock options exercised | 126 | 4 | 28 |
| Repurchases of common stock | (1,331) | (1,344) | (1,243) |
| Net proceeds from (repayments of) borrowings by consolidated VIEs | 0 | 512 | (410) |
| Net (redemptions/distributions paid)/subscriptions received from noncontrolling interest holders | 484 | 202 | 203 |
| Excess tax benefit from stock-based compensation | 105 | 106 | 41 |
| Other financing activities | (9) | 0 | 7 |
| Cash flows from financing activities | (2,064) | (1,861) | (3,392) |
| Effect of exchange rate changes on cash and cash equivalents | (115) | (132) | 17 |
| Net increase (decrease) in cash and cash equivalents | 360 | 1,333 | (216) |
| Cash and cash equivalents, beginning of year | 5,723 | 4,390 | |
| Cash and cash equivalents, end of year | 6,083 | 5,723 | 4,390 |
| Supplemental disclosure of cash flow information: | |||
| Interest | 194 | 216 | 202 |
| Interest on borrowings of consolidated VIEs | 0 | 142 | 102 |
| Income taxes (net of refunds) | 1,276 | 1,227 | 1,064 |
| Supplemental schedule of noncash investing and financing transactions: | |||
| Issuance of common stock | 600 | 646 | 429 |
| Increase (decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds | (104) | (269) | (229) |
| Increase (decrease) in borrowings due to consolidation/deconsolidation of VIEs | (3,389) | 585 | 363 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BLACKROCK INC. | ||
Ticker: BLK Fiscal Year: 2015 | ||
Consolidated Statements of Financial Condition | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Cash and cash equivalents | $ 6,083 | 5,723 |
| Accounts receivable | 2,237 | 2,120 |
| Investments | 1,578 | 1,921 |
| Separate account assets | 150,851 | 161,287 |
| Separate account collateral held under securities lending agreements | 31,336 | 33,654 |
| Property and equipment (net of accumulated depreciation of $570 and $587 at December 31, 2015 and 2014, respectively) | 581 | 467 |
| Intangible assets (net of accumulated amortization of $745 and $1,040 at December 31, 2015 and 2014, respectively) | 17,372 | 17,344 |
| Goodwill | 13,123 | 12,961 |
| Other assets | 855 | 685 |
| Total assets | 225,261 | 239,792 |
| Liabilities | ||
| Accrued compensation and benefits | 1,971 | 1,865 |
| Accounts payable and accrued liabilities | 1,068 | 1,035 |
| Borrowings | 4,930 | 4,922 |
| Separate account liabilities | 150,851 | 161,287 |
| Separate account collateral liabilities under securities lending agreements | 31,336 | 33,654 |
| Deferred income tax liabilities | 4,851 | 4,989 |
| Other liabilities | 1,033 | 886 |
| Total liabilities | 196,217 | 212,272 |
| Commitments and contingencies (Note 13) | ||
| Temporary equity | ||
| Redeemable noncontrolling interests | 464 | 35 |
| Permanent Equity | ||
| Common stock, $ 0.01 par value; Shares authorized: 500,000,000 at December 31, 2015 and 2014; Shares issued: 171,252,185 at December 31, 2015 and 2014; Shares outstanding: 163,461,064 and 164,786,788 at December 31, 2015 and 2014, respectively; | 2 | 2 |
| Additional paid-in capital | 19,405 | 19,386 |
| Retained earnings | 12,033 | 10,164 |
| Accumulated other comprehensive loss | (448) | (273) |
| Treasury stock, common, at cost (7,791,121 and 6,465,397 shares held at December 31, 2015 and 2014, respectively) | (2,489) | (1,894) |
| Total BlackRock, Inc. stockholders equity | 28,503 | 27,366 |
| Nonredeemable noncontrolling interests | 77 | 119 |
| Total permanent equity | 28,580 | 27,485 |
| Total liabilities, temporary equity and permanent equity | 225,261 | 239,792 |
| Statement Class Of Stock | ||
| Series B Nonvoting Participating Preferred Stock | ||
| Preferred stock, value | 0 | 0 |
| Series C Nonvoting Participating Preferred Stock | ||
| Preferred stock, value | 0 | 0 |
| Legal Entity | ||
| Consolidated Variable Interest Entities | ||
| Cash and cash equivalents | 148 | 278 |
| Investments | 1,030 | 3,320 |
| Other assets | 67 | 32 |
| Borrowings | 3,389 | |
| Other liabilities | 177 | 245 |
| Appropriated retained earnings | (19) | |
| External Links | |
| BLACKROCK INC. (BLK) Fiscal Year 2015 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |