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: 2021 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenue | |||
| Total revenue | $ 19,374 | 16,205 | 14,539 |
| Expense | |||
| Employee compensation and benefits | 6,043 | 5,041 | 4,470 |
| Distribution and servicing costs | 2,200 | 1,835 | 1,685 |
| Direct fund expense | 1,313 | 1,063 | 978 |
| General and administration | 2,221 | 2,465 | 1,758 |
| Amortization of intangible assets | 147 | 106 | 97 |
| Total expense | 11,924 | 10,510 | 8,988 |
| Operating income | 7,450 | 5,695 | 5,551 |
| Nonoperating income (expense) | |||
| Net gain (loss) on investments | 841 | 972 | 342 |
| Interest and dividend income | 87 | 62 | 97 |
| Interest expense | (205) | (205) | (203) |
| Total nonoperating income (expense) | 723 | 829 | 236 |
| Income before income taxes | 8,173 | 6,524 | 5,787 |
| Income tax expense | 1,968 | 1,238 | 1,261 |
| Net income | 6,205 | 5,286 | 4,526 |
| Net income (loss) attributable to noncontrolling interests | 304 | 354 | 50 |
| Net income attributable to BlackRock, Inc. | 5,901 | 4,932 | 4,476 |
| Earnings per share attributable to BlackRock, Inc. common stockholders: | |||
| Basic | 38.76 | 32.13 | 28.69 |
| Diluted | 38.22 | 31.85 | 28.43 |
| Weighted-average common shares outstanding: | |||
| Basic | 152,236,047 | 153,489,422 | 156,014,343 |
| Diluted | 154,404,357 | 154,840,582 | 157,459,546 |
| Product and Service | |||
| Investment Advisory, Administration Fees and Securities Lending Revenue | |||
| Total revenue | 15,260 | 12,639 | 11,777 |
| Related Party | |||
| Other Third Parties | |||
| Total revenue | 3,786 | 3,560 | 3,454 |
| Related Parties | |||
| Total revenue | 11,474 | 9,079 | 8,323 |
| Investment Advisory Performance Fees | |||
| Total revenue | 1,143 | 1,104 | 450 |
| Technology Services Revenue | |||
| Total revenue | 1,281 | 1,139 | 974 |
| Distribution Fees | |||
| Total revenue | 1,521 | 1,131 | 1,069 |
| Advisory and Other Revenue | |||
| Total revenue | 169 | 192 | 269 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKROCK INC. | |||
Ticker: BLK Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net income | $ 6,205 | 5,286 | 4,526 |
| Other comprehensive income (loss): | |||
| Foreign currency translation adjustments | (213) | 234 | 120 [1] |
| Other comprehensive income (loss) | (213) | 234 | 120 |
| Comprehensive income | 5,992 | 5,520 | 4,646 |
| Less: Comprehensive income (loss) attributable to noncontrolling interests | 304 | 354 | 50 |
| Comprehensive income attributable to BlackRock, Inc. | 5,688 | 5,166 | 4,596 |
| [1] Amount for 2021 includes a gain from a net investment hedge of $46 million (net of tax expense of $14 million). Amount for 2020 includes a loss from a net investment hedge of $54 million (net of tax benefit of $17 million). Amount for 2019 includes a gain from a net investment hedge of $11 million (net of tax expense of $3 million). | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKROCK INC. | |||
Ticker: BLK Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Operating activities | |||
| Net income | $ 6,205 | 5,286 | 4,526 |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | |||
| Depreciation and amortization | 415 | 358 | 296 |
| Noncash lease expense | 144 | 118 | 109 |
| Stock-based compensation | 734 | 622 | 567 |
| Deferred income tax expense (benefit) | (865) | (157) | 17 |
| Charitable Contribution | 589 | ||
| Gain related to the Charitable Contribution | (122) | ||
| Contingent consideration fair value adjustments | 34 | 23 | 53 |
| Other investment gains | (165) | (244) | (30) |
| Net (gains) losses within CIPs | (302) | (501) | (254) |
| Net (purchases) proceeds within CIPs | (1,683) | (2,282) | (1,746) |
| (Earnings) losses from equity method investees | (315) | (148) | (116) |
| Distributions of earnings from equity method investees | 84 | 32 | 70 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (322) | (313) | (433) |
| Investments, trading | 323 | 160 | (21) |
| Other assets | (172) | (60) | 141 |
| Accrued compensation and benefits | 412 | 487 | 58 |
| Accounts payable and accrued liabilities | 342 | (115) | (111) |
| Other liabilities | 75 | 10 | (242) |
| Net cash provided by/(used in) operating activities | 4,944 | 3,743 | 2,884 |
| Investing activities | |||
| Purchases of investments | (910) | (359) | (693) |
| Proceeds from sales and maturities of investments | 429 | 187 | 417 |
| Distributions of capital from equity method investees | 95 | 183 | 136 |
| Net consolidations (deconsolidations) of sponsored investment funds | (104) | (71) | (110) |
| Acquisitions, net of cash acquired | (1,106) | (1,510) | |
| Purchases of property and equipment | (341) | (194) | (254) |
| Net cash provided by/(used in) investing activities | (1,937) | (254) | (2,014) |
| Financing activities | |||
| Proceeds from long-term borrowings | 991 | 2,245 | 992 |
| Repayments of long-term borrowings | (750) | (1,000) | |
| Cash dividends paid | (2,547) | (2,260) | (2,096) |
| Repurchases of common stock | (1,485) | (1,809) | (1,911) |
| Net proceeds from (repayments of) borrowings by CIPs | 32 | 51 | 111 |
| Net (redemptions/distributions paid)/subscriptions received from noncontrolling interest holders | 1,475 | 2,051 | 1,458 |
| Other financing activities | (3) | (34) | (137) |
| Net cash provided by/(used in) financing activities | (2,287) | 244 | (2,583) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (61) | 102 | 54 |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | 659 | 3,835 | (1,659) |
| Cash, cash equivalents and restricted cash, beginning of year | 8,681 | 4,846 | |
| Cash, cash equivalents and restricted cash, end of year | 9,340 | 8,681 | 4,846 |
| Supplemental disclosure of cash flow information: | |||
| Interest | 189 | 183 | 193 |
| Income taxes (net of refunds) | 2,720 | 1,308 | 1,168 |
| Supplemental schedule of noncash investing and financing transactions: | |||
| Issuance of common stock | 387 | 515 | 549 |
| PNC preferred stock capital contribution | 60 | ||
| Charitable Contribution of an investment | (589) | ||
| Increase/(decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds | (2,952) | (1,414) | (1,292) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BLACKROCK INC. | ||
Ticker: BLK Fiscal Year: 2021 | ||
Consolidated Statements of Financial Condition | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Cash and cash equivalents | $ 9,323 | 8,664 |
| Accounts receivable | 3,789 | 3,535 |
| Investments | 7,262 | 6,919 |
| Separate account assets | 86,226 | 104,663 |
| Separate account collateral held under securities lending agreements | 7,081 | 16,507 |
| Property and equipment (net of accumulated depreciation of $1,256 and $1,098 at December 31, 2021 and 2020, respectively) | 762 | 681 |
| Intangible assets (net of accumulated amortization of $399 and $291 at December 31, 2021 and 2020, respectively) | 18,453 | 18,263 |
| Goodwill | 15,351 | 14,551 |
| Operating lease right-of-use assets | 1,621 | 649 |
| Other assets | 2,780 | 2,550 |
| Total assets | 152,648 | 176,982 |
| Liabilities | ||
| Accrued compensation and benefits | 2,951 | 2,499 |
| Accounts payable and accrued liabilities | 1,397 | 1,028 |
| Borrowings | 7,446 | 7,264 |
| Separate account liabilities | 86,226 | 104,663 |
| Separate account collateral liabilities under securities lending agreements | 7,081 | 16,507 |
| Deferred income tax liabilities | 2,758 | 3,673 |
| Operating lease liabilities | 1,872 | 755 |
| Other liabilities | 4,024 [1] | 2,937 |
| Total liabilities | 113,755 | 139,326 |
| Commitments and contingencies (Note 16) | ||
| Temporary equity | ||
| Redeemable noncontrolling interests | 1,087 | 2,322 |
| Permanent equity | ||
| Common stock, $0.01 par value; Shares authorized: 500,000,000 at December 31, 2021 and 2020; Shares issued: 172,075,373 at December 31, 2021 and 2020; Shares outstanding: 151,684,491 and 152,532,885 at December 31, 2021 and 2020, respectively | 2 | 2 |
| Additional paid-in capital | 19,640 | 19,293 |
| Retained earnings | 27,688 | 24,334 |
| Accumulated other comprehensive loss | (550) | (337) |
| Treasury stock, common, at cost (20,390,882 and 19,542,488 shares held at December 31, 2021 and 2020, respectively) | (9,087) | (8,009) |
| Total BlackRock, Inc. stockholders equity | 37,693 | 35,283 |
| Nonredeemable noncontrolling interests | 113 | 51 |
| Total permanent equity | 37,806 | 35,334 |
| Total liabilities, temporary equity and permanent equity | 152,648 | 176,982 |
| [1] At December 31, 2021, cash and cash equivalents, investments, other assets and other liabilities include $251 million, $3,968 million, $50 million and $1,919 million, respectively, related to consolidated variable interest entities (VIEs). 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 VIEs. | ||
| External Links | |
| BLACKROCK INC. (BLK) Fiscal Year 2021 | |
| 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 |