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: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Cash flows from operating activities | |||
| Net income | $ 2,050 | 897 | 629 |
| Adjustments to reconcile net income to cash from operating activities: | |||
| Depreciation and amortization | 310 | 239 | 236 |
| Amortization of deferred sales commissions | 102 | 100 | 130 |
| Stock-based compensation | 445 | 317 | 278 |
| Deferred income tax expense (benefit) | 3 | (89) | (234) |
| Net (gains) losses on non-trading investments | (62) | (20) | 216 |
| Purchases of investments within consolidated funds | (26) | (41) | (127) |
| Proceeds from sales and maturities of investments within consolidated funds | 54 | 285 | 342 |
| Assets and liabilities of consolidated VIEs: | |||
| Change in cash and cash equivalents | (45) | ||
| Net (gains) losses within consolidated VIEs | 35 | ||
| Net (purchases)/proceeds within consolidated VIEs | 44 | ||
| (Earnings) losses from equity method investees | (141) | (30) | 294 |
| Distributions of earnings from equity method investees | 14 | 18 | 28 |
| Other adjustments | (1) | 3 | 13 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (364) | (223) | 339 |
| Due from related parties | 45 | 159 | (112) |
| Deferred sales commissions | (65) | (68) | (90) |
| Investments, trading | (118) | (53) | 265 |
| Other assets | 236 | (50) | 115 |
| Accrued compensation and benefits | 52 | (218) | (237) |
| Accounts payable and accrued liabilities | 164 | 165 | (227) |
| Due to related parties | (356) | (10) | 7 |
| Other liabilities | 112 | 18 | 51 |
| Cash flows from operating activities | 2,488 | 1,399 | 1,916 |
| Cash flows from investing activities | |||
| Purchases of investments | (656) | (73) | (417) |
| Purchases of assets held for sale | (1) | (2) | (59) |
| Proceeds from sale of disposal group | 2 | 41 | |
| Proceeds from sales and maturities of investments | 181 | 260 | 122 |
| Distributions of capital from equity method investees | 53 | 89 | 15 |
| Net consolidations (deconsolidations) of sponsored investment funds | (52) | 27 | (3) |
| Acquisitions, net of cash acquired, and contingent payments | (23) | (5,755) | (16) |
| Purchases of property and equipment | (131) | (65) | (77) |
| Cash flows from investing activities | (627) | (5,519) | (394) |
| Cash flows from financing activities | |||
| Repayments of short-term borrowings | (2,134) | (400) | |
| Proceeds from short-term borrowings | 2,034 | 300 | |
| Repayments of long-term borrowings | (1) | ||
| Repayments of convertible debt | (176) | (7) | |
| Proceeds from long-term borrowings | 2,495 | ||
| Cash dividends paid | (776) | (422) | (419) |
| Proceeds from stock options exercised | 10 | 18 | 24 |
| Proceeds from issuance of common stock | 6 | 2,804 | 6 |
| Repurchases of common stock | (264) | (46) | (46) |
| Merrill Lynch capital contribution | 10 | 25 | |
| Net (redemptions/distributions paid)/subscriptions received from non-controlling interests holders | 110 | (255) | (207) |
| Excess tax benefit from stock-based compensation | 44 | 33 | 59 |
| Net borrowings/(repayments of borrowings) by consolidated sponsored investment funds | 70 | (203) | |
| Cash flows from financing activities | (3,170) | 6,749 | (887) |
| Effect of exchange rate changes on cash and cash equivalents | (32) | 47 | (259) |
| Net increase in cash and cash equivalents | (1,341) | 2,676 | 376 |
| Cash and cash equivalents, beginning of year | 4,708 | 2,032 | |
| Cash and cash equivalents, end of year | 3,367 | 4,708 | 2,032 |
| Supplemental disclosure of cash flow information is as follows: | |||
| Interest | 146 | 52 | 63 |
| Interest on borrowings of consolidated VIEs | 53 | ||
| Income taxes | 583 | 503 | 644 |
| Supplemental schedule of non-cash investing and financing transactions is as follows: | |||
| Increase (decrease) in non-controlling interests due to net consolidation/-deconsolidation) of sponsored investment funds | (170) | 7 | 280 |
| Contingent common stock payment related to Quellos transaction | 43 | ||
| Increase (decrease) in borrowings due to consolidation of VIEs | 1,157 | ||
| Common stock released from escrow agent in connection with Quellos transaction | 136 | 6 | 45 |
| Class of Stock | |||
| Voting Common Stock | |||
| Issuance of stock | 266 | 767 | 136 |
| Preferred stock | |||
| Issuance of stock | 7,842 | ||
| External Links | |
| BLACKROCK INC. (BLK) Fiscal Year 2010 | |
| 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 |