10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKROCK INC. | |||
Ticker: BLK Fiscal Year: 2020 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Revenue | |||
| Total revenue | $ 16,205 | 14,539 | 14,198 |
| Expense | |||
| Employee compensation and benefits | 5,041 | 4,470 | 4,320 |
| Distribution and servicing costs | 1,835 | 1,685 | 1,675 |
| Direct fund expense | 1,063 | 978 | 998 |
| General and administration | 2,465 | 1,758 | 1,638 |
| Restructuring charge | 60 | ||
| Amortization of intangible assets | 106 | 97 | 50 |
| Total expense | 10,510 | 8,988 | 8,741 |
| Operating income | 5,695 | 5,551 | 5,457 |
| Nonoperating income (expense) | |||
| Net gain (loss) on investments | 972 | 342 | 1 |
| Interest and dividend income | 62 | 97 | 104 |
| Interest expense | (205) | (203) | (184) |
| Total nonoperating income (expense) | 829 | 236 | (79) |
| Income before income taxes | 6,524 | 5,787 | 5,378 |
| Income tax expense | 1,238 | 1,261 | 1,076 |
| Net income | 5,286 | 4,526 | 4,302 |
| Net income (loss) attributable to noncontrolling interests | 354 | 50 | (3) |
| Net income attributable to BlackRock, Inc. | 4,932 | 4,476 | 4,305 |
| Earnings per share attributable to BlackRock, Inc. common stockholders: | |||
| Basic | 32.13 | 28.69 | 26.86 |
| Diluted | 31.85 | 28.43 | 26.58 |
| Weighted-average common shares outstanding: | |||
| Basic | 153,489,422 | 156,014,343 | 160,301,116 |
| Diluted | 154,840,582 | 157,459,546 | 161,948,732 |
| Product and Service | |||
| Investment Advisory, Administration Fees and Securities Lending Revenue | |||
| Related Party | |||
| Other Third Parties | |||
| Total revenue | 3,560 | 3,454 | 3,327 |
| Related Parties | |||
| Total revenue | 9,079 | 8,323 | 8,226 |
| Total revenue | 12,639 | 11,777 | 11,553 |
| Investment Advisory Performance Fees | |||
| Total revenue | 1,104 | 450 | 412 |
| Technology Services Revenue | |||
| Total revenue | 1,139 | 974 | 785 |
| Distribution Fees | |||
| Total revenue | 1,131 | 1,069 | 1,155 |
| Advisory and Other Revenue | |||
| Total revenue | 192 | 269 | 293 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKROCK INC. | |||
Ticker: BLK Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net income | $ 5,286 | 4,526 | 4,302 |
| Other comprehensive income (loss): | |||
| Foreign currency translation adjustments | 234 [1] | 120 | (253) |
| Other comprehensive income (loss) | 234 | 120 | (253) |
| Comprehensive income | 5,520 | 4,646 | 4,049 |
| Less: Comprehensive income (loss) attributable to noncontrolling interests | 354 | 50 | (3) |
| Comprehensive income attributable to BlackRock, Inc. | 5,166 | 4,596 | 4,052 |
| [1] Amount for 2020 includes a loss from a net investment hedge of $54 million (net of tax benefit of $17 million). Amounts for 2019 and 2018 include gains from a net investment hedge of $11 million (net of tax expense of $3 million) and $30 million (net of tax expense of $10 million), respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKROCK INC. | |||
Ticker: BLK Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Operating activities | |||
| Net income | $ 5,286 | 4,526 | 4,302 |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | |||
| Depreciation and amortization | 358 | 296 | 220 |
| Noncash lease expense | 118 | 109 | |
| Stock-based compensation | 622 | 567 | 564 |
| Deferred income tax expense (benefit) | (157) | 17 | (226) |
| Charitable Contribution | 589 | ||
| Gain related to the Charitable Contribution | (122) | ||
| Contingent consideration fair value adjustments | 23 | 53 | 65 |
| Other investment gains | (244) | (30) | (50) |
| Net (gains) losses within consolidated sponsored investment products | (501) | (254) | 149 |
| Net (purchases) proceeds within consolidated sponsored investment products | (2,282) | (1,746) | (1,938) |
| (Earnings) losses from equity method investees | (148) | (116) | (94) |
| Distributions of earnings from equity method investees | 32 | 70 | 30 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (313) | (433) | 4 |
| Investments, trading | 160 | (21) | 179 |
| Other assets | (60) | 141 | (223) |
| Accrued compensation and benefits | 487 | 58 | (230) |
| Accounts payable and accrued liabilities | (115) | (111) | 43 |
| Other liabilities | 10 | (242) | 280 |
| Net cash provided by/(used in) operating activities | 3,743 | 2,884 | 3,075 |
| Investing activities | |||
| Purchases of investments | (359) | (693) | (327) |
| Proceeds from sales and maturities of investments | 187 | 417 | 449 |
| Distributions of capital from equity method investees | 183 | 136 | 24 |
| Net consolidations (deconsolidations) of sponsored investment funds | (71) | (110) | (51) |
| Acquisitions, net of cash acquired | (1,510) | (699) | |
| Purchases of property and equipment | (194) | (254) | (204) |
| Net cash provided by/(used in) investing activities | (254) | (2,014) | (808) |
| Financing activities | |||
| Proceeds from long-term borrowings | 2,245 | 992 | |
| Repayments of long-term borrowings | (1,000) | ||
| Cash dividends paid | (2,260) | (2,096) | (1,968) |
| Repurchases of common stock | (1,809) | (1,911) | (2,087) |
| Net proceeds from (repayments of) borrowings by consolidated sponsored investment products | 51 | 111 | 40 |
| Net (redemptions/distributions paid)/subscriptions received from noncontrolling interest holders | 2,051 | 1,458 | 1,263 |
| Other financing activities | (34) | (137) | (13) |
| Net cash provided by/(used in) financing activities | 244 | (2,583) | (2,765) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 102 | 54 | (93) |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | 3,835 | (1,659) | (591) |
| Cash, cash equivalents and restricted cash, beginning of year | 4,846 | 6,505 | |
| Cash, cash equivalents and restricted cash, end of year | 8,681 | 4,846 | 6,505 |
| Supplemental disclosure of cash flow information: | |||
| Interest | 183 | 193 | 177 |
| Income taxes (net of refunds) | 1,308 | 1,168 | 1,159 |
| Supplemental schedule of noncash investing and financing transactions: | |||
| Issuance of common stock | 515 | 549 | 652 |
| PNC preferred stock capital contribution | 60 | 58 | |
| Charitable Contribution of an investment | (589) | ||
| Increase/(decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds | (1,414) | (1,292) | (560) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BLACKROCK INC. | ||
Ticker: BLK Fiscal Year: 2020 | ||
Consolidated Statements of Financial Condition | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Cash and cash equivalents | $ 8,664 [1] | 4,829 |
| Accounts receivable | 3,535 | 3,179 |
| Investments | 6,919 | 5,489 |
| Separate account assets | 104,663 | 102,844 |
| Separate account collateral held under securities lending agreements | 16,507 | 15,466 |
| Property and equipment (net of accumulated depreciation of $1,098 and $880 at December 31, 2020 and 2019, respectively) | 681 | 715 |
| Intangible assets (net of accumulated amortization of $291 and $185 at December 31, 2020 and 2019, respectively) | 18,263 | 18,369 |
| Goodwill | 14,551 | 14,562 |
| Other assets | 3,199 | 3,169 |
| Total assets | 176,982 | 168,622 |
| Liabilities | ||
| Accrued compensation and benefits | 2,499 | 2,057 |
| Accounts payable and accrued liabilities | 1,028 | 1,167 |
| Borrowings | 7,264 | 4,955 |
| Separate account liabilities | 104,663 | 102,844 |
| Separate account collateral liabilities under securities lending agreements | 16,507 | 15,466 |
| Deferred income tax liabilities | 3,673 | 3,734 |
| Other liabilities | 3,692 | 3,470 |
| Total liabilities | 139,326 | 133,693 |
| Commitments and contingencies (Note 16) | ||
| Temporary equity | ||
| Redeemable noncontrolling interests | 2,322 | 1,316 |
| Permanent equity | ||
| Common stock, $0.01 par value; Shares authorized: 500,000,000 at December 31, 2020 and 2019; Shares issued: 172,075,373 and 171,252,185 at December 31, 2020 and 2019, respectively; Shares outstanding: 152,532,885 and 154,375,780 at December 31, 2020 and 2019, respectively | 2 | 2 |
| Additional paid-in capital | 19,293 | 19,186 |
| Retained earnings | 24,334 | 21,662 |
| Accumulated other comprehensive loss | (337) | (571) |
| Treasury stock, common, at cost (19,542,488 and 16,876,405 shares held at December 31, 2020 and 2019, respectively) | (8,009) | (6,732) |
| Total BlackRock, Inc. stockholders equity | 35,283 | 33,547 |
| Nonredeemable noncontrolling interests | 51 | 66 |
| Total permanent equity | 35,334 | 33,613 |
| Total liabilities, temporary equity and permanent equity | 176,982 | 168,622 |
| Class of Stock | ||
| Series B Nonvoting Participating Preferred Stock | ||
| Nonvoting participating preferred stock | 0 | 0 |
| [1] At December 31, 2020, cash and cash equivalents, investments, other assets and other liabilities include $155 million, $4,253 million, $90 million and $952 million, respectively, related to consolidated variable interest entities (VIEs). At December 31, 2019, cash and cash equivalents, investments, other assets and other liabilities include $131 million, $3,301 million, $68 million and $820 million, respectively, related to consolidated VIEs | ||
| External Links | |
| BLACKROCK INC. (BLK) Fiscal Year 2020 | |
| 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 |