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: 2011 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Cash flows from operating activities | |||
| Net income | $ 2,339 | 2,050 | 897 |
| Adjustments to reconcile net income to cash from operating activities: | |||
| Depreciation and amortization | 299 | 310 | 239 |
| Amortization of deferred sales commissions | 81 | 102 | 100 |
| Stock-based compensation | 497 | 445 | 317 |
| Deferred income tax expense (benefit) | (137) | 3 | (89) |
| Net (gains) losses on non-trading investments | (40) | (62) | (20) |
| Purchases of investments within consolidated funds | (41) | (26) | (41) |
| Proceeds from sales and maturities of investments within consolidated funds | 50 | 54 | 285 |
| Assets and liabilities of consolidated VIEs: | |||
| Change in cash and cash equivalents | 54 | (45) | |
| Net (gains) losses within consolidated VIEs | 18 | 35 | |
| Net (purchases) proceeds within consolidated VIEs | 82 | 44 | |
| (Earnings) losses from equity method investees | (23) | (141) | (30) |
| Distributions of earnings from equity method investees | 30 | 14 | 18 |
| Other adjustments | (1) | 3 | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 124 | (364) | (223) |
| Due from related parties | (6) | 45 | 159 |
| Deferred sales commissions | (53) | (65) | (68) |
| Investments, trading | (116) | (118) | (53) |
| Other assets | (122) | 236 | (50) |
| Accrued compensation and benefits | (140) | 52 | (218) |
| Accounts payable and accrued liabilities | (152) | 164 | 165 |
| Due to related parties | (35) | (356) | (10) |
| Other liabilities | 117 | 112 | 18 |
| Cash flows from operating activities | 2,826 | 2,488 | 1,399 |
| Cash flows from investing activities | |||
| Purchases of investments | (204) | (656) | (73) |
| Proceeds from sales and maturities of investments | 213 | 181 | 260 |
| Distributions of capital from equity method investees | 34 | 53 | 89 |
| Net consolidations (deconsolidations) of sponsored investment funds | (52) | 27 | |
| Acquisitions, net of cash acquired, and contingent payments | (23) | (5,755) | |
| Purchases of property and equipment | (247) | (131) | (65) |
| Other | 1 | (2) | |
| Cash flows from investing activities | (204) | (627) | (5,519) |
| Cash flows from financing activities | |||
| Repayments of short-term borrowings | (600) | (2,134) | |
| Proceeds from short-term borrowings | 600 | 2,034 | |
| Repayments of convertible debt | (67) | (176) | (7) |
| Proceeds from long-term borrowings | 1,496 | 2,495 | |
| Cash dividends paid | (1,014) | (776) | (422) |
| Proceeds from stock options exercised | 16 | 10 | 18 |
| Proceeds from issuance of common stock | 5 | 6 | 2,804 |
| Repurchases of common stock | (2,885) | (264) | (46) |
| Merrill Lynch cash capital contribution | 8 | 10 | 25 |
| Repayments of borrowings by consolidated VIEs | (125) | ||
| Net (redemptions/distributions paid)/subscriptions received from non-controlling interests holders | 54 | 110 | (255) |
| Excess tax benefit from stock-based compensation | 27 | 44 | 33 |
| Net borrowings (repayment of borrowings) by consolidated sponsored investment funds | 70 | ||
| Cash flows from financing activities | (2,485) | (3,170) | 6,749 |
| Effect of exchange rate changes on cash and cash equivalents | 2 | (32) | 47 |
| Net increase (decrease) in cash and cash equivalents | 139 | (1,341) | 2,676 |
| Cash and cash equivalents, beginning of year | 3,367 | 4,708 | |
| Cash and cash equivalents, end of year | 3,506 | 3,367 | 4,708 |
| Supplemental disclosure of cash flow information: | |||
| Interest | 167 | 146 | 52 |
| Interest on borrowings of consolidated VIEs | 60 | 53 | |
| Income taxes | 962 | 583 | 503 |
| Supplemental schedule of non-cash investing and financing transactions: | |||
| PNC preferred stock capital contribution | 200 | ||
| Increase (decrease) in non-controlling interests due to net consolidation/(deconsolidation) of sponsored investment funds | (4) | (170) | 7 |
| Contingent common stock payment related to Quellos transaction | 43 | ||
| Increase (decrease) in borrowings due to consolidation of VIEs | 412 | 1,157 | |
| Common stock released from escrow agent in connection with Quellos transaction | 136 | 6 | |
| Class of Stock | |||
| Preferred Stock | |||
| Issuance of stock | 7,842 | ||
| Voting Common Stock | |||
| Issuance of stock | 213 | 266 | 767 |
| External Links | |
| BLACKROCK INC. (BLK) Fiscal Year 2011 | |
| 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 |