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: 2014 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 27, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Cash flows from operating activities | |||
| Net income | $ 3,264 | 2,951 | 2,440 |
| Adjustments to reconcile net income to cash flows from operating activities: | |||
| Depreciation and amortization | 278 | 291 | 295 |
| Amortization of deferred sales commissions | 56 | 52 | 55 |
| Stock-based compensation | 453 | 448 | 451 |
| Deferred income tax expense (benefit) | (104) | (193) | (61) |
| Net (gains) losses on nontrading investments | (37) | (73) | (43) |
| Purchases of investments within consolidated sponsored investment funds | (160) | (195) | (108) |
| Proceeds from sales and maturities of investments within consolidated sponsored investment funds | 137 | 145 | 96 |
| Gain related to PennyMac initial public offering | 0 | (39) | 0 |
| Gain related to the charitable contribution | 0 | (80) | 0 |
| Charitable contribution | 0 | 124 | 0 |
| Assets and liabilities of consolidated VIEs: | |||
| Change in cash and cash equivalents | 168 | 143 | (24) |
| Net (gains) losses within consolidated VIEs | 41 | 0 | 38 |
| Net (purchases) proceeds within consolidated VIEs | (599) | 142 | (203) |
| (Earnings) losses from equity method investees | (158) | (158) | (175) |
| Distributions of earnings from equity method investees | 57 | 80 | 42 |
| Other adjustments | 5 | 10 | (4) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 78 | 14 | (292) |
| Investments, trading | (416) | (218) | (664) |
| Other assets | (1) | (92) | (10) |
| Accrued compensation and benefits | 101 | 203 | 138 |
| Accounts payable and accrued liabilities | (69) | 7 | 114 |
| Other liabilities | (13) | 80 | 155 |
| Cash flows from operating activities | 3,081 | 3,642 | 2,240 |
| Cash flows from investing activities | |||
| Purchases of investments | (369) | (412) | (402) |
| Proceeds from sales and maturities of investments | 654 | 286 | 695 |
| Distributions of capital from equity method investees | 143 | 83 | 73 |
| Net consolidations (deconsolidations) of sponsored investment funds | (123) | (48) | (215) |
| Acquisitions, net of cash acquired | 0 | (298) | (267) |
| Purchases of property and equipment | (66) | (94) | (150) |
| Cash flows from investing activities | 239 | (483) | (266) |
| Cash flows from financing activities | |||
| Repayments of short-term borrowings | 0 | (100) | 0 |
| Repayments of long-term borrowings | (1,000) | (750) | (500) |
| Proceeds from long-term borrowings | 997 | 0 | 1,495 |
| Cash dividends paid | (1,338) | (1,168) | (1,060) |
| Proceeds from stock options exercised | 4 | 28 | 47 |
| Repurchases of common stock | (1,344) | (1,243) | (1,645) |
| Net proceeds from (repayments of) borrowings by consolidated VIEs | 512 | (410) | 331 |
| Net (redemptions/distributions paid)/subscriptions received from noncontrolling interest holders | 202 | 203 | 300 |
| Excess tax benefit from stock-based compensation | 106 | 41 | 74 |
| Other financing activities | 6 | 7 | 14 |
| Cash flows from financing activities | (1,855) | (3,392) | (944) |
| Effect of exchange rate changes on cash and cash equivalents | (132) | 17 | 70 |
| Net increase (decrease) in cash and cash equivalents | 1,333 | (216) | 1,100 |
| Cash and cash equivalents, beginning of year | 4,390 | 4,606 | |
| Cash and cash equivalents, end of year | 5,723 | 4,390 | 4,606 |
| Supplemental disclosure of cash flow information: | |||
| Interest | 216 | 202 | 201 |
| Interest on borrowings of consolidated VIEs | 142 | 102 | 75 |
| Income taxes (net of refunds) | 1,227 | 1,064 | 976 |
| Supplemental schedule of noncash investing and financing transactions: | |||
| Issuance of common stock | 646 | 429 | 378 |
| Increase (decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds | (269) | (229) | (425) |
| Increase (decrease) in borrowings due to consolidation of VIEs | 585 | 363 | 406 |
| External Links | |
| BLACKROCK INC. (BLK) Fiscal Year 2014 | |
| 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 |