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: 2012 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash flows from operating activities | |||
| Net income | $ 2,440 | 2,339 | 2,050 |
| Adjustments to reconcile net income to cash from operating activities: | |||
| Depreciation and amortization | 295 | 299 | 310 |
| Amortization of deferred sales commissions | 55 | 81 | 102 |
| Stock-based compensation | 451 | 497 | 445 |
| Deferred income tax expense (benefit) | (61) | (137) | 3 |
| Net (gains) losses on non-trading investments | (43) | (40) | (62) |
| Purchases of investments within consolidated sponsored investment funds | (108) | (41) | (26) |
| Proceeds from sales and maturities of investments within consolidated sponsored investment funds | 96 | 50 | 54 |
| Assets and liabilities of consolidated VIEs: | |||
| Change in cash and cash equivalents | (24) | 54 | (45) |
| Net losses within consolidated VIEs | 38 | 18 | 35 |
| Net (purchases) proceeds within consolidated VIEs | (203) | 82 | 44 |
| (Earnings) losses from equity method investees | (175) | (23) | (141) |
| Distributions of earnings from equity method investees | 42 | 30 | 14 |
| Other adjustments | (4) | (1) | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (292) | 124 | (364) |
| Due from related parties | (4) | (6) | 45 |
| Deferred sales commissions | (41) | (53) | (65) |
| Investments, trading | (664) | (116) | (118) |
| Other assets | 35 | (122) | 236 |
| Accrued compensation and benefits | 138 | (140) | 52 |
| Accounts payable and accrued liabilities | 114 | (152) | 164 |
| Due to related parties | (8) | (35) | (356) |
| Other liabilities | 163 | 117 | 112 |
| Cash flows from operating activities | 2,240 | 2,826 | 2,488 |
| Cash flows from investing activities | |||
| Purchases of investments | (402) | (204) | (656) |
| Proceeds from sales and maturities of investments | 695 | 213 | 181 |
| Distributions of capital from equity method investees | 73 | 34 | 53 |
| Net consolidations (deconsolidations) of sponsored investment funds | (215) | (52) | |
| Acquisitions, net of cash acquired, and contingent payments | (267) | (23) | |
| Purchases of property and equipment | (150) | (247) | (131) |
| Other | 1 | ||
| Cash flows from investing activities | (266) | (204) | (627) |
| Cash flows from financing activities | |||
| Repayments of short-term borrowings | (600) | (2,134) | |
| Proceeds from short-term borrowings | 600 | ||
| Repayments of convertible debt | (67) | (176) | |
| Repayments of long-term borrowings | (500) | ||
| Proceeds from long-term borrowings | 1,495 | 1,496 | |
| Cash dividends paid | (1,060) | (1,014) | (776) |
| Proceeds from stock options exercised | 47 | 16 | 10 |
| Proceeds from issuance of common stock | 7 | 5 | 6 |
| Repurchases of common stock | (1,645) | (2,885) | (264) |
| Merrill Lynch cash capital contribution | 7 | 8 | 10 |
| Net proceeds from (repayments of) borrowings by consolidated VIEs | 331 | (125) | |
| Net (redemptions/distributions paid)/subscriptions received from non-controlling interest holders | 300 | 54 | 110 |
| Excess tax benefit from stock-based compensation | 74 | 27 | 44 |
| Cash flows from financing activities | (944) | (2,485) | (3,170) |
| Effect of exchange rate changes on cash and cash equivalents | 70 | 2 | (32) |
| Net increase (decrease) in cash and cash equivalents | 1,100 | 139 | (1,341) |
| Cash and cash equivalents, beginning of year | 3,506 | 3,367 | 4,708 |
| Cash and cash equivalents, end of year | 4,606 | 3,506 | 3,367 |
| Supplemental disclosure of cash flow information: | |||
| Interest | 201 | 167 | 146 |
| Interest on borrowings of consolidated VIEs | 75 | 60 | 53 |
| Income taxes (net of refunds) | 976 | 962 | 583 |
| Supplemental schedule of non-cash investing and financing transactions: | |||
| Issuance of common stock | 378 | 213 | 266 |
| PNC preferred stock capital contribution | 200 | ||
| Increase (decrease) in non-controlling interests due to net consolidation (deconsolidation) of sponsored investment funds | (425) | (4) | (170) |
| Increase (decrease) in borrowings due to consolidation of VIEs | 406 | 412 | 1,157 |
| Common stock released from escrow | 1 | 136 | |
| External Links | |
| BLACKROCK INC. (BLK) Fiscal Year 2012 | |
| 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 |