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: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 28, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash flows from operating activities | |||
| Net income | $ 2,951 | 2,440 | 2,339 |
| Adjustments to reconcile net income to cash from operating activities: | |||
| Depreciation and amortization | 291 | 295 | 299 |
| Amortization of deferred sales commissions | 52 | 55 | 81 |
| Stock-based compensation | 448 | 451 | 497 |
| Deferred income tax expense (benefit) | (193) | (61) | (137) |
| Gain related to PennyMac initial public offering | (39) | ||
| Gain related to the charitable contribution | (80) | ||
| Charitable contribution | 124 | ||
| Net (gains) losses on nontrading investments | (73) | (43) | (40) |
| Purchases of investments within consolidated sponsored investment funds | (195) | (108) | (41) |
| Proceeds from sales and maturities of investments within consolidated sponsored investment funds | 145 | 96 | 50 |
| Assets and liabilities of consolidated VIEs: | |||
| Change in cash and cash equivalents | 143 | (24) | 54 |
| Net (gains) losses within consolidated VIEs | 38 | 18 | |
| Net (purchases) proceeds within consolidated VIEs | 142 | (203) | 82 |
| (Earnings) losses from equity method investees | (158) | (175) | (23) |
| Distributions of earnings from equity method investees | 80 | 42 | 30 |
| Other adjustments | 10 | (4) | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 14 | (292) | 124 |
| Investments, trading | (218) | (664) | (116) |
| Other assets | (92) | (10) | (181) |
| Accrued compensation and benefits | 203 | 138 | (140) |
| Accounts payable and accrued liabilities | 7 | 114 | (152) |
| Other liabilities | 80 | 155 | 82 |
| Cash flows from operating activities | 3,642 | 2,240 | 2,826 |
| Cash flows from investing activities | |||
| Purchases of investments | (412) | (402) | (204) |
| Proceeds from sales and maturities of investments | 286 | 695 | 213 |
| Distributions of capital from equity method investees | 83 | 73 | 34 |
| Net consolidations (deconsolidations) of sponsored investment funds | (48) | (215) | |
| Acquisitions, net of cash acquired | (298) | (267) | |
| Purchases of property and equipment | (94) | (150) | (247) |
| Cash flows from investing activities | (483) | (266) | (204) |
| Cash flows from financing activities | |||
| Repayments of short-term borrowings | (100) | (600) | |
| Proceeds from short-term borrowings | 600 | ||
| Repayments of convertible debt | (67) | ||
| Repayments of long-term borrowings | (750) | (500) | |
| Proceeds from long-term borrowings | 1,495 | 1,496 | |
| Cash dividends paid | (1,168) | (1,060) | (1,014) |
| Proceeds from stock options exercised | 28 | 47 | 16 |
| Proceeds from issuance of common stock | 7 | 7 | 5 |
| Repurchases of common stock | (1,243) | (1,645) | (2,885) |
| Merrill Lynch cash capital contribution | 7 | 8 | |
| Net proceeds from (repayments of) borrowings by consolidated VIEs | (410) | 331 | (125) |
| Net (redemptions/distributions paid)/subscriptions received from noncontrolling interest holders | 203 | 300 | 54 |
| Excess tax benefit from stock-based compensation | 41 | 74 | 27 |
| Cash flows from financing activities | (3,392) | (944) | (2,485) |
| Effect of exchange rate changes on cash and cash equivalents | 17 | 70 | 2 |
| Net increase (decrease) in cash and cash equivalents | (216) | 1,100 | 139 |
| Cash and cash equivalents, beginning of year | 4,606 | 3,506 | |
| Cash and cash equivalents, end of year | 4,390 | 4,606 | 3,506 |
| Supplemental disclosure of cash flow information: | |||
| Interest | 202 | 201 | 167 |
| Interest on borrowings of consolidated VIEs | 102 | 75 | 60 |
| Income taxes (net of refunds) | 1,064 | 976 | 962 |
| Supplemental schedule of noncash investing and financing transactions: | |||
| Issuance of common stock | 429 | 378 | 213 |
| PNC preferred stock capital contribution | 200 | ||
| Increase (decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds | (229) | (425) | (4) |
| Increase (decrease) in borrowings due to consolidation of VIEs | 363 | 406 | 412 |
| External Links | |
| BLACKROCK INC. (BLK) Fiscal Year 2013 | |
| 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 |