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: 2022 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 24, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenue | |||
| Total revenue | $ 17,873 | 19,374 | 16,205 |
| Expense | |||
| Employee compensation and benefits | 5,681 | 6,043 | 5,041 |
| Distribution and servicing costs | 2,179 | 2,200 | 1,835 |
| Direct fund expense | 1,226 | 1,313 | 1,063 |
| General and administration expense | 2,160 | 2,221 | 2,465 |
| Restructuring Charges | 91 | 0 | 0 |
| Amortization of intangible assets | 151 | 147 | 106 |
| Total expense | 11,488 | 11,924 | 10,510 |
| Operating income | 6,385 | 7,450 | 5,695 |
| Nonoperating income (expense) | |||
| Net gain (loss) on investments | (35) | 841 | 972 |
| Interest and dividend income | 152 | 87 | 62 |
| Interest expense | (212) | (205) | (205) |
| Total nonoperating income (expense) | (95) | 723 | 829 |
| Income before income taxes | 6,290 | 8,173 | 6,524 |
| Income tax expense | 1,296 | 1,968 | 1,238 |
| Net income | 4,994 | 6,205 | 5,286 |
| Net income (loss) attributable to noncontrolling interests | (184) | 304 | 354 |
| Net income attributable to BlackRock, Inc. | 5,178 | 5,901 | 4,932 |
| Earnings per share attributable to BlackRock, Inc. common stockholders: | |||
| Basic | 34.31 | 38.76 | 32.13 |
| Diluted | 33.97 | 38.22 | 31.85 |
| Weighted-average common shares outstanding: | |||
| Basic | 150,921,161 | 152,236,047 | 153,489,422 |
| Diluted | 152,440,471 | 154,404,357 | 154,840,582 |
| Product and Service | |||
| Investment Advisory, Administration Fees and Securities Lending Revenue | |||
| Total revenue | 14,451 | 15,260 | 12,639 |
| Related Party | |||
| Other Third Parties | |||
| Total revenue | 3,603 | 3,786 | 3,560 |
| Related Parties | |||
| Total revenue | 10,848 | 11,474 | 9,079 |
| Investment Advisory Performance Fees | |||
| Total revenue | 514 | 1,143 | 1,104 |
| Technology Services Revenue | |||
| Total revenue | 1,364 | 1,281 | 1,139 |
| Distribution Fees | |||
| Total revenue | 1,381 | 1,521 | 1,131 |
| Advisory and Other Revenue | |||
| Total revenue | 163 | 169 | 192 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKROCK INC. | |||
Ticker: BLK Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 24, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income | $ 4,994 | 6,205 | 5,286 |
| Other comprehensive income (loss): | |||
| Foreign currency translation adjustments | (551) | (213) | 234 [1] |
| Other comprehensive income (loss) | (551) | (213) | 234 |
| Comprehensive income | 4,443 | 5,992 | 5,520 |
| Less: Comprehensive income (loss) attributable to noncontrolling interests | (184) | 304 | 354 |
| Comprehensive income attributable to BlackRock, Inc. | 4,627 | 5,688 | 5,166 |
| [1] Amount for 2022 includes a gain from a net investment hedge of $37 million (net of tax expense of $12 million). 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). | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKROCK INC. | |||
Ticker: BLK Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 24, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating activities | |||
| Net income | $ 4,994 | 6,205 | 5,286 |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | |||
| Depreciation and amortization | 418 | 415 | 358 |
| Noncash lease expense | 165 | 144 | 118 |
| Stock-based compensation | 708 | 734 | 622 |
| Deferred income tax expense (benefit) | 602 | (865) | (157) |
| Charitable Contribution | 0 | 0 | 589 |
| Gain related to the Charitable Contribution | 0 | 0 | (122) |
| Contingent consideration fair value adjustments | 3 | 34 | 23 |
| Other investment gains | (268) | (165) | (244) |
| Net (gains) losses within CIPs | 400 | (302) | (501) |
| Net (purchases) proceeds within CIPs | (1,190) | (1,683) | (2,282) |
| (Earnings) losses from equity method investees | (29) | (315) | (148) |
| Distributions of earnings from equity method investees | 50 | 84 | 32 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 416 | (322) | (313) |
| Investments, trading | 196 | 323 | 160 |
| Other assets | (166) | (172) | (60) |
| Accrued compensation and benefits | (711) | 412 | 487 |
| Accounts payable and accrued liabilities | (151) | 342 | (115) |
| Other liabilities | (481) | 75 | 10 |
| Net cash provided by/(used in) operating activities | 4,956 | 4,944 | 3,743 |
| Investing activities | |||
| Purchases of investments | (824) | (910) | (359) |
| Proceeds from sales and maturities of investments | 242 | 429 | 187 |
| Distributions of capital from equity method investees | 70 | 95 | 183 |
| Net consolidations (deconsolidations) of sponsored investment funds | (85) | (104) | (71) |
| Acquisitions, net of cash acquired | 0 | (1,106) | 0 |
| Purchases of property and equipment | (533) | (341) | (194) |
| Net cash provided by/(used in) investing activities | (1,130) | (1,937) | (254) |
| Financing activities | |||
| Proceeds from long-term borrowings | 0 | 991 | 2,245 |
| Repayments of long-term borrowings | (750) | (750) | 0 |
| Cash dividends paid | (2,990) | (2,547) | (2,260) |
| Proceeds from stock options exercised | 11 | 0 | 0 |
| Repurchases of common stock | (2,332) | (1,485) | (1,809) |
| Net proceeds from (repayments of) borrowings by CIPs | (26) | 32 | 51 |
| Net (redemptions/distributions paid)/subscriptions received from noncontrolling interest holders | 618 | 1,475 | 2,051 |
| Other financing activities | 27 | (3) | (34) |
| Net cash provided by/(used in) financing activities | (5,442) | (2,287) | 244 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (291) | (61) | 102 |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | (1,907) | 659 | 3,835 |
| Cash, cash equivalents and restricted cash, beginning of year | 9,340 | 8,681 | |
| Cash, cash equivalents and restricted cash, end of year | 7,433 | 9,340 | 8,681 |
| Supplemental disclosure of cash flow information: | |||
| Interest | 177 | 189 | 183 |
| Income taxes (net of refunds) | 1,067 | 2,720 | 1,308 |
| Supplemental schedule of noncash investing and financing transactions: | |||
| Issuance of common stock | 576 | 387 | 515 |
| Charitable Contribution of an investment | 0 | 0 | (589) |
| Increase/(decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds | (593) | (2,952) | (1,414) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BLACKROCK INC. | ||
Ticker: BLK Fiscal Year: 2022 | ||
Consolidated Statements of Financial Condition | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 24, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Cash and cash equivalents | $ 7,416 | 9,323 |
| Accounts receivable | 3,264 | 3,789 |
| Investments | 7,466 | 7,262 |
| Separate account assets | 54,066 | 86,226 |
| Separate account collateral held under securities lending agreements | 5,765 | 7,081 |
| Property and equipment (net of accumulated depreciation and amortization of $1,390 and $1256 at December 31, 2022 and 2021, respectively) | 1,031 | 762 |
| Intangible assets (net of accumulated amortization of $483 and $399 at December 31, 2022 and 2021, respectively) | 18,302 | 18,453 |
| Goodwill | 15,341 | 15,351 |
| Operating lease right-of-use assets | 1,516 | 1,621 |
| Other assets | 3,461 | 2,780 |
| Total assets | 117,628 | 152,648 |
| Liabilities | ||
| Accrued compensation and benefits | 2,272 | 2,951 |
| Accounts payable and accrued liabilities | 1,294 | 1,397 |
| Borrowings | 6,654 | 7,446 |
| Separate account liabilities | 54,066 | 86,226 |
| Separate account collateral liabilities under securities lending agreements | 5,765 | 7,081 |
| Deferred income tax liabilities | 3,381 | 2,758 |
| Operating lease liabilities | 1,835 | 1,872 |
| Other liabilities | 3,576 | 4,024 [1] |
| Total liabilities | 78,843 | 113,755 |
| Commitments and contingencies (Note 16) | ||
| Temporary equity | ||
| Redeemable noncontrolling interests | 909 | 1,087 |
| Permanent equity | ||
| Common stock, $0.01 par value; Shares authorized: 500,000,000 at December 31, 2022 and 2021; Shares issued: 172,075,373 at December 31, 2022 and 2021; Shares outstanding: 149,756,492 and 151,684,491 at December 31, 2022 and 2021, respectively | 2 | 2 |
| Additional paid-in capital | 19,772 | 19,640 |
| Retained earnings | 29,876 | 27,688 |
| Accumulated other comprehensive loss | (1,101) | (550) |
| Treasury stock, common, at cost (22,318,881 and 20,390,882 shares held at December 31, 2022 and 2021, respectively) | (10,805) | (9,087) |
| Total BlackRock, Inc. stockholders equity | 37,744 | 37,693 |
| Nonredeemable noncontrolling interests | 132 | 113 |
| Total permanent equity | 37,876 | 37,806 |
| Total liabilities, temporary equity and permanent equity | 117,628 | 152,648 |
| [1] At December 31, 2022, cash and cash equivalents, investments, other assets and other liabilities include $234 million, $3.9 billion, $68 million and $1.9 billion, respectively, related to consolidated variable interest entities (VIEs). At December 31, 2021, cash and cash equivalents, investments, other assets and other liabilities include $251 million, $4.0 billion, $50 million and $1.9 billion, respectively, related to consolidated VIEs. | ||
| External Links | |
| BLACKROCK INC. (BLK) Fiscal Year 2022 | |
| 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 |