111http://fasb.org/us-gaap/2022#NonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#NonoperatingIncomeExpense2023-01-31http://fasb.org/us-gaap/2022#GeneralAndAdministrativeExpense--12-31http://fasb.org/us-gaap/2022#NonoperatingIncomeExpense1http://fasb.org/us-gaap/2022#NonoperatingIncomeExpense1http://fasb.org/us-gaap/2022#NonoperatingIncomeExpenseFY1http://fasb.org/us-gaap/2022#NonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#OtherAssetshttp://fasb.org/us-gaap/2022#NonoperatingIncomeExpense1falsehttp://fasb.org/us-gaap/2022#NonoperatingIncomeExpense00013647421http://fasb.org/us-gaap/2022#OtherAssetshttp://fasb.org/us-gaap/2022#NonoperatingIncomeExpense11one yearhttp://fasb.org/us-gaap/2022#NonoperatingIncomeExpense1http://fasb.org/us-gaap/2022#GeneralAndAdministrativeExpensehttp://fasb.org/us-gaap/2022#NonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#NonoperatingIncomeExpense2024-01-311http://fasb.org/us-gaap/2022#NonoperatingIncomeExpense1http://fasb.org/us-gaap/2022#GeneralAndAdministrativeExpensehttp://fasb.org/us-gaap/2022#NonoperatingIncomeExpense0001364742blk:NonaffiliatedEntitiesMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742blk:ConsolidatedVotingRightsEntitiesMember2022-12-310001364742us-gaap:InvestmentsMember2021-01-012021-12-310001364742us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001364742blk:InvestmentInNAVMemberus-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:NoncontrollingInterestMember2020-01-012020-12-310001364742blk:EquityProductMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742us-gaap:ForeignExchangeForwardMember2020-01-012020-12-310001364742us-gaap:DistributionAndShareholderServiceMember2021-01-012021-12-310001364742blk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742blk:RestrictedStockUnitsAndRestrictedStockMember2020-01-012020-12-310001364742blk:EquityNonETFIndexMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742blk:PerformanceBasedRestrictedStockUnitsMemberus-gaap:SubsequentEventMember2023-01-012023-01-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001364742blk:InvestmentProfessionalDeferredCompensationProgramMember2021-01-012021-12-310001364742blk:MultiAssetMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742us-gaap:ServiceOtherMemberblk:AdvisoryRevenueMember2020-01-012020-12-310001364742us-gaap:BuildingMember2021-12-310001364742blk:UnsecuredDebtTwoZeroTwoSevenNotesMember2017-03-012017-03-310001364742us-gaap:ParentMember2021-12-310001364742blk:TwoThousandTwentyTwoRevolvingCreditFacilitiesMember2022-01-012022-12-310001364742blk:RevenueByClientTypeMemberblk:EquityETFsMember2020-01-012020-12-310001364742blk:CashManagementMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742blk:InvestmentInNAVMemberblk:HedgeFundsEquityOtherMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:RevenueByClientTypeMemberblk:CashManagementMember2022-01-012022-12-310001364742us-gaap:NoncontrollingInterestMember2020-12-310001364742blk:RevenueByInvestmentStyleMemberblk:ActiveProductsMember2020-01-012020-12-310001364742blk:EquityMutualFundInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberblk:SponsoredInvestmentProductsMember2022-12-310001364742us-gaap:CorporateDebtSecuritiesMember2022-12-310001364742srt:MaximumMemberblk:PerformanceBasedStockOptionsMember2022-01-012022-12-310001364742us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2021-12-310001364742blk:DefinedContributionPlansMembercountry:GB2022-01-012022-12-310001364742us-gaap:OverAllotmentOptionMemberblk:PNCMemberus-gaap:CommonStockMember2020-05-152020-05-150001364742us-gaap:ShareBasedCompensationAwardTrancheTwoMemberblk:RestrictedStockUnitsAndRestrictedStockMember2022-01-012022-12-310001364742blk:MultiAssetMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742blk:FixedIncomeActiveProductsMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742us-gaap:ServiceOtherMemberblk:AdvisoryRevenueMember2021-01-012021-12-310001364742us-gaap:DistributionAndShareholderServiceMemberblk:OtherDistributionFeesMember2021-01-012021-12-310001364742blk:EquityAndFixedIncomeMutualFundsMemberblk:InvestmentInNAVMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:ServiceOtherMember2020-01-012020-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:TechnologyServiceMember2022-12-310001364742us-gaap:BuildingImprovementsMember2022-01-012022-12-310001364742blk:OnePointTwoFivePercentNotesDueTwoThousandTwentyFiveMember2015-05-052015-05-060001364742us-gaap:CorporateDebtSecuritiesMember2021-12-310001364742blk:BlackrockMutualFundsAndIsharesETFsMember2021-12-310001364742blk:RevenueByClientTypeMemberblk:InstitutionalMember2022-01-012022-12-310001364742us-gaap:OtherLiabilitiesMember2021-01-012021-12-3100013647422020-12-310001364742us-gaap:SeriesBPreferredStockMemberblk:SharesOutstandingMember2019-12-310001364742blk:RedeemableNoncontrollingInterestsMember2020-12-310001364742blk:RestrictedStockUnitsAndRestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2020-01-012020-12-310001364742blk:RevenueByClientTypeMember2022-01-012022-12-310001364742blk:OnePointTwoFivePercentNotesDueTwoThousandTwentyFiveMember2022-12-310001364742blk:PerformanceBasedStockOptionsMember2022-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-01-012020-12-310001364742blk:TwoPointOneZeroPercentNotesDueTwoThousandThirtyTwoMember2022-12-3100013647422023-01-01us-gaap:InvestmentAdviceMember2022-12-310001364742us-gaap:TotalReturnSwapMember2021-01-012021-12-310001364742srt:AmericasMember2021-12-310001364742us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:EquityMethodInvestmentsMemberus-gaap:PrivateEquityFundsMember2022-12-3100013647422026-01-01us-gaap:InvestmentAdviceMember2022-12-3100013647422021-07-302021-07-310001364742us-gaap:ShareBasedCompensationAwardTrancheTwoMemberblk:RestrictedStockUnitsAndRestrictedStockMember2021-01-012021-12-310001364742blk:RevenueByInvestmentStyleMemberblk:ActiveProductsMember2021-01-012021-12-310001364742blk:FederalReserveBankStockMember2022-12-310001364742blk:LongTermRevenueMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742blk:LiquidAlternativesMemberus-gaap:InvestmentPerformanceMemberblk:AlternativeInvestmentsProductsMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:UnsecuredDebt2022NoteMember2012-05-012012-05-310001364742us-gaap:InvestmentPerformanceMemberblk:FixedIncomeMember2022-01-012022-12-310001364742us-gaap:ForeignExchangeFutureMemberus-gaap:OtherAssetsMember2022-12-310001364742blk:TwoThousandTwentyTwoRevolvingCreditFacilitiesMember2022-12-310001364742us-gaap:FurnitureAndFixturesMember2022-12-310001364742blk:RelatedToSameTaxJurisdictionMember2021-12-310001364742srt:AffiliatedEntityMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742us-gaap:EquityMethodInvestmentsMember2022-12-310001364742us-gaap:DomesticCountryMember2022-01-012022-12-310001364742us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:TechnologyServiceMember2024-01-012022-12-310001364742blk:UnsecuredDebtTwoZeroTwoSevenNotesMember2017-03-310001364742blk:AlternativesCurrencyAndCommoditiesMemberblk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742us-gaap:CommonStockMemberblk:SharesOutstandingMember2021-01-012021-12-310001364742us-gaap:InvestmentPerformanceMember2020-01-012020-12-310001364742us-gaap:BuildingMember2022-01-012022-12-310001364742us-gaap:InvestmentPerformanceMemberblk:MultiAssetMember2022-01-012022-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2021-12-310001364742blk:SixPointTwoFivePercentNotesDueTwoThousandSeventeenMember2017-04-012017-04-300001364742us-gaap:ServiceOtherMemberblk:AdvisoryRevenueMember2022-01-012022-12-310001364742blk:RestrictedStockUnitsAndRestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2021-01-012021-12-310001364742blk:TradingSecuritiesAssetsMemberus-gaap:DebtSecuritiesMember2022-12-310001364742blk:IlliquidAlternativesMemberblk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742blk:FixedIncomeActiveProductsMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742us-gaap:DistributionAndShareholderServiceMemberblk:RetrocessionsMember2020-01-012020-12-310001364742blk:EquityAndFixedIncomeMutualFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-3100013647422022-12-310001364742blk:EquityMutualFundInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:OtherAssetsMember2022-12-310001364742us-gaap:InvestmentsMember2020-12-310001364742blk:RevenueByClientTypeMemberblk:EquityETFsMember2021-01-012021-12-310001364742us-gaap:CollateralizedLoanObligationsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-01-012022-12-310001364742us-gaap:DebtSecuritiesMember2022-01-012022-12-310001364742us-gaap:TrademarksAndTradeNamesMember2021-01-012021-12-310001364742blk:RevenueByClientTypeMember2020-01-012020-12-310001364742blk:FivePercentNotesDueTwoThousandNineteenMember2019-12-310001364742blk:UnsecuredDebt2024NotesMember2014-03-310001364742us-gaap:RetainedEarningsUnappropriatedMember2021-01-012021-12-310001364742us-gaap:DebtSecuritiesMember2021-01-012021-12-310001364742blk:InvestmentInNAVMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:BuildingImprovementsMember2021-12-310001364742blk:LiquidAlternativesMemberblk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742us-gaap:RetainedEarningsUnappropriatedMember2020-01-012020-12-310001364742blk:InstitutionalActiveMemberblk:RevenueByClientTypeMember2022-01-012022-12-3100013647422025-01-01us-gaap:InvestmentAdviceMember2021-12-310001364742us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:EquityNonETFIndexMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742us-gaap:ParentMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:ConsolidatedVotingRightsEntitiesMember2021-12-310001364742us-gaap:TotalReturnSwapMemberus-gaap:OtherAssetsMember2021-12-310001364742us-gaap:TotalReturnSwapMember2022-01-012022-12-310001364742blk:RevenueByInvestmentStyleMemberblk:CashManagementMember2020-01-012020-12-310001364742blk:PNCMemberus-gaap:CommonStockMember2020-05-150001364742blk:RevenueByClientTypeMemberblk:InstitutionalMember2021-01-012021-12-310001364742blk:RestrictedStockUnitsAndRestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2020-01-012020-12-310001364742blk:UsAndForeignGovernmentDebtSecuritiesMember2022-12-310001364742blk:AcquiredManagementContractsFiniteLivedIntangibleAssetsMember2022-01-012022-12-310001364742blk:OtherFundsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2021-12-310001364742blk:InvestmentInNAVMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:AcquiredManagementContractsFiniteLivedIntangibleAssetsMember2021-01-012021-12-310001364742us-gaap:DistributionAndShareholderServiceMemberblk:USMutualFundsDistributionFeesMember2020-01-012020-12-310001364742srt:EuropeMember2021-12-310001364742blk:OnePointNineZeroPercentNotesDueTwoThousandThirtyOneMember2020-04-300001364742blk:InvestmentInNAVMemberblk:EquityFixedIncomeAndMultiAssetMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:OtherLiabilitiesMember2020-12-310001364742us-gaap:TradeNamesMemberblk:AperioMember2021-02-012021-02-010001364742blk:PerformanceBasedRestrictedStockUnitsMember2022-12-310001364742us-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:SeriesBPreferredStockMember2021-12-310001364742us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-12-310001364742us-gaap:OtherInvestmentsMember2022-12-310001364742us-gaap:EquityMethodInvestmentsMemberus-gaap:PrivateEquityFundsMember2021-12-310001364742blk:ConsolidatedVotingRightsEntitiesMemberus-gaap:EquitySecuritiesMember2022-12-3100013647422023-01-310001364742us-gaap:ServiceOtherMemberblk:OtherAdvisoryRevenueMember2021-01-012021-12-310001364742blk:InvestmentInNAVMemberus-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-12-310001364742blk:HedgeFundsEquityOtherMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:EquityAndFixedIncomeMutualFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:StateAndLocalJurisdictionMember2022-01-012022-12-310001364742blk:DeferredCompensationPlanOtherMember2020-01-012020-12-310001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberblk:SponsoredInvestmentProductsMember2021-12-310001364742us-gaap:DistributionAndShareholderServiceMemberblk:RetrocessionsMember2021-01-012021-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:ForeignExchangeForwardMember2021-01-012021-12-310001364742blk:IcapitalMember2022-12-310001364742blk:EquityAndFixedIncomeMutualFundsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2021-01-012021-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001364742blk:DefinedBenefitPlansMember2022-12-310001364742blk:InvestmentProfessionalDeferredCompensationProgramMember2022-01-012022-12-310001364742blk:AlternativesCurrencyAndCommoditiesMemberblk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742us-gaap:EquityMethodInvestmentsMemberus-gaap:PrivateEquityFundsMember2022-12-310001364742us-gaap:LicensingAgreementsMember2021-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:EquityMethodInvestmentsMember2022-01-012022-12-310001364742us-gaap:TreasuryStockMember2022-12-310001364742blk:PerformanceBasedRestrictedStockUnitsMember2021-01-012021-12-310001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberblk:OtherNetAssetsLiabilitiesMember2022-12-310001364742us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2021-12-310001364742blk:HedgeFundsEquityOtherMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:CommonStockMemberblk:SharesOutstandingMember2020-01-012020-12-310001364742blk:PerformanceBasedRestrictedStockUnitsMember2020-01-012020-03-310001364742blk:UnsecuredDebt2024NotesMember2022-01-012022-12-310001364742blk:OtherFundsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-01-012022-12-310001364742blk:EquityActiveProductMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742blk:VoluntaryDeferredCompensationPlanMember2022-01-012022-12-310001364742blk:EquityETFsMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742blk:DeferredCompensationPlansMemberus-gaap:SubsequentEventMember2023-01-012023-01-310001364742us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:TechnologyServiceMember2024-01-012021-12-310001364742blk:OnePointNineZeroPercentNotesDueTwoThousandThirtyOneMember2020-04-012020-04-300001364742us-gaap:TechnologyBasedIntangibleAssetsMember2022-12-310001364742blk:FixedIncomeNonETFIndexMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742blk:FixedIncomeMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742blk:ShareRepurchaseProgramMemberus-gaap:SubsequentEventMember2023-01-012023-01-310001364742srt:MinimumMemberus-gaap:EquityMethodInvestmentsMemberus-gaap:HedgeFundsEquityMember2022-01-012022-12-310001364742us-gaap:DistributionAndShareholderServiceMemberblk:RetrocessionsMember2022-01-012022-12-310001364742us-gaap:LeaseholdImprovementsMember2021-12-310001364742us-gaap:CommonStockMember2020-12-310001364742blk:BankLoansMember2021-12-310001364742blk:EquipmentAndComputerSoftwareMember2022-12-310001364742blk:RevenueByClientTypeMemberblk:RetailClientsMember2021-01-012021-12-310001364742us-gaap:CollateralizedLoanObligationsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001364742blk:RevenueByClientTypeMemberblk:EquityETFsMember2022-01-012022-12-310001364742blk:UnsecuredDebt2024NotesMember2014-03-012014-03-310001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberblk:AdvisoryFeeReceivablesMember2022-12-310001364742blk:ThreePointFiveZeroPercentNotesDueTwoThousandTwentyFourMember2022-12-310001364742blk:InstitutionalActiveMemberblk:RevenueByClientTypeMember2020-01-012020-12-310001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:InvestmentsMember2021-12-310001364742us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:EquityMethodInvestmentsMemberus-gaap:PrivateEquityFundsMember2021-12-310001364742blk:OtherEquipmentMember2022-12-310001364742blk:DefinedContributionPlansMemberblk:OtherRegionsMember2021-01-012021-12-310001364742us-gaap:RetainedEarningsUnappropriatedMember2021-12-310001364742blk:IlliquidAlternativesMemberblk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742blk:EquityNonETFIndexMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742us-gaap:DebtSecuritiesMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:DomesticCountryMember2021-01-012021-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:ShareRepurchaseProgramMember2022-12-310001364742us-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:RevenueByInvestmentStyleMemberblk:ActiveProductsMember2022-01-012022-12-310001364742blk:RedeemableNoncontrollingInterestsMember2019-12-310001364742us-gaap:RestrictedStockUnitsRSUMember2022-01-012022-12-310001364742us-gaap:CollateralizedLoanObligationsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001364742us-gaap:TotalReturnSwapMemberus-gaap:OtherAssetsMember2022-12-310001364742blk:RevenueByClientTypeMemberblk:LongTermRevenueMember2021-01-012021-12-310001364742us-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:BuildingMember2022-12-310001364742us-gaap:TotalReturnSwapMember2021-12-310001364742blk:LiquidAlternativesMemberblk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742blk:AcquiredManagementContractsFiniteLivedIntangibleAssetsMember2021-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001364742blk:LongTermRevenueMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742blk:RevenueByInvestmentStyleMemberblk:CashManagementMember2022-01-012022-12-310001364742us-gaap:TechnologyBasedIntangibleAssetsMemberblk:AperioMember2021-02-012021-02-010001364742us-gaap:FairValueInputsLevel3Memberus-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:FairValueInputsLevel3Memberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMember2022-12-310001364742us-gaap:SeriesBPreferredStockMemberblk:SharesOutstandingMember2020-01-012020-12-3100013647422022-07-312022-07-310001364742us-gaap:ForeignExchangeForwardMemberus-gaap:OtherLiabilitiesMember2022-12-310001364742us-gaap:SubsequentEventMember2023-01-250001364742us-gaap:CommonStockMemberblk:SharesOutstandingMember2021-12-310001364742us-gaap:FairValueInputsLevel3Memberus-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:PerformanceBasedRestrictedStockUnitsMember2021-12-310001364742blk:CarriedInterestMemberus-gaap:ConsolidatedEntitiesMember2021-12-310001364742srt:AsiaPacificMember2021-01-012021-12-310001364742us-gaap:CommonStockMember2021-01-012021-12-3100013647422022-06-300001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMember2021-12-310001364742blk:FixedIncomeETFsMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742us-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:ForeignExchangeFutureMember2021-01-012021-12-310001364742us-gaap:TechnologyServiceMember2021-12-310001364742us-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:ForeignExchangeForwardMember2021-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:EquityMethodInvestmentsMember2021-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:EquityMethodInvestmentsMember2022-12-310001364742srt:EuropeMember2020-01-012020-12-310001364742blk:VoluntaryDeferredCompensationPlanMemberblk:DeferredCompensationPlansMember2021-12-310001364742us-gaap:DistributionAndShareholderServiceMember2020-01-012020-12-310001364742blk:RevenueByInvestmentStyleMember2020-01-012020-12-310001364742us-gaap:ForeignCountryMember2021-12-310001364742blk:DeferredCompensationPlanOtherMember2021-01-012021-12-310001364742blk:EquipmentAndComputerSoftwareMember2021-12-310001364742us-gaap:CustomerRelationshipsMember2021-01-012021-12-310001364742us-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:NoncontrollingInterestMember2019-12-310001364742blk:DefinedContributionPlansMemberblk:OtherRegionsMember2022-01-012022-12-310001364742us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:EquityMethodInvestmentsMemberus-gaap:HedgeFundsEquityMember2022-12-310001364742blk:TradingSecuritiesAssetsMemberus-gaap:DebtSecuritiesMember2021-01-012021-12-3100013647422021-01-012021-12-310001364742blk:CashManagementMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742us-gaap:EquitySecuritiesMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:TreasuryStockMember2021-01-012021-12-310001364742us-gaap:OtherLiabilitiesMember2022-01-012022-12-310001364742blk:BankLoansMember2022-12-310001364742us-gaap:DistributionAndShareholderServiceMemberblk:OtherDistributionFeesMember2020-01-012020-12-310001364742srt:AsiaPacificMember2022-12-310001364742us-gaap:FairValueOptionOtherEligibleItemsMember2021-12-310001364742us-gaap:TotalReturnSwapMember2020-01-012020-12-310001364742us-gaap:BorrowingsMember2022-12-310001364742blk:RevenueByClientTypeMemberblk:InstitutionalMember2020-01-012020-12-310001364742us-gaap:ConstructionInProgressMember2022-12-310001364742blk:RestrictedStockUnitsAndRestrictedStockMember2021-01-012021-12-310001364742blk:ThreePointTwoFivePercentNotesDueTwoThousandTwentyNineMember2019-04-012019-04-300001364742us-gaap:RetainedEarningsUnappropriatedMember2022-01-012022-12-310001364742us-gaap:RealEstateFundsMemberblk:InvestmentInNAVMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:RevenueByInvestmentStyleMemberblk:EquityIndexAndETFsMember2020-01-012020-12-310001364742us-gaap:InvestmentsMember2022-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMember2021-01-012021-12-310001364742us-gaap:EmployeeStockOptionMember2020-01-012020-12-310001364742blk:HedgeFundsEquityOtherMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:EquityETFsMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742us-gaap:CommonStockMemberblk:SharesOutstandingMember2020-12-310001364742blk:OnePointNineZeroPercentNotesDueTwoThousandThirtyOneMember2022-01-012022-12-310001364742us-gaap:SeriesBPreferredStockMemberblk:SharesOutstandingMember2021-12-310001364742us-gaap:ParentMember2022-12-310001364742blk:ConsolidatedSponsoredInvestmentProductsMemberus-gaap:EquitySecuritiesMember2022-12-310001364742us-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:DistributionAndShareholderServiceMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:InvestmentAdviceMember2021-12-310001364742us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001364742blk:RevenueByInvestmentStyleMemberblk:CashManagementMember2021-01-012021-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001364742us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2022-12-310001364742blk:EquipmentAndComputerSoftwareMember2022-01-012022-12-310001364742us-gaap:TrademarksAndTradeNamesMember2021-12-310001364742us-gaap:SeriesBPreferredStockMemberblk:SharesOutstandingMember2022-12-310001364742us-gaap:FairValueInputsLevel3Memberblk:EquityFixedIncomeAndMultiAssetMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:ForeignCountryMember2020-01-012020-12-310001364742blk:EquityETFsMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742blk:OtherEquipmentMember2021-12-310001364742us-gaap:NoncontrollingInterestMember2021-01-012021-12-310001364742us-gaap:ServiceOtherMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:EquitySecuritiesMember2022-12-310001364742us-gaap:ForeignExchangeForwardMember2022-12-310001364742us-gaap:TreasuryStockMember2021-12-310001364742blk:InvestmentInNAVMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001364742blk:EquityProductMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742blk:UsAndForeignGovernmentDebtSecuritiesMember2021-12-310001364742blk:OnePointTwoFivePercentNotesDueTwoThousandTwentyFiveMember2022-01-012022-12-310001364742us-gaap:LandMember2022-12-310001364742blk:InvestmentInNAVMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:TreasuryStockMember2020-12-310001364742blk:AnnualRSUsGrantedMemberblk:RestrictedStockUnitsAndRestrictedStockMember2021-01-012021-12-310001364742us-gaap:MoneyMarketFundsMember2021-12-310001364742blk:ThreePointThreeSevenFivePercentNotesDueJuneTwoThousandTwentyTwoMember2021-12-310001364742us-gaap:ConstructionInProgressMember2021-12-310001364742blk:RevenueByInvestmentStyleMemberblk:EquityIndexAndETFsMember2022-01-012022-12-310001364742blk:IcapitalMember2021-01-012021-12-310001364742us-gaap:RetainedEarningsUnappropriatedMember2019-12-310001364742us-gaap:TrademarksAndTradeNamesMember2022-01-012022-12-310001364742blk:PerformanceBasedRestrictedStockUnitsMember2022-01-012022-12-310001364742blk:NonaffiliatedEntitiesMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742us-gaap:SeriesBPreferredStockMemberblk:SharesOutstandingMember2021-01-012021-12-310001364742us-gaap:CommonStockMemberblk:SharesOutstandingMember2019-12-310001364742us-gaap:FairValueInputsLevel1Memberblk:HedgeFundsEquityOtherMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001364742us-gaap:TechnologyServiceMember2025-01-012021-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:EquityMethodInvestmentsMember2021-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001364742blk:RedeemableNoncontrollingInterestsMember2022-01-012022-12-310001364742us-gaap:TreasuryStockMember2020-01-012020-12-310001364742blk:ConsolidatedSponsoredInvestmentProductsMember2021-12-310001364742us-gaap:SeriesBPreferredStockMember2020-12-310001364742us-gaap:EquityMethodInvestmentsMemberus-gaap:HedgeFundsEquityMember2022-12-310001364742blk:IlliquidAlternativesMemberus-gaap:InvestmentPerformanceMemberblk:AlternativeInvestmentsProductsMember2022-01-012022-12-310001364742blk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742blk:CashManagementMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742us-gaap:NoncontrollingInterestMember2021-12-310001364742blk:ConsolidatedSponsoredInvestmentProductsMember2022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:VoluntaryDeferredCompensationPlanMemberblk:DeferredCompensationPlansMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel2Memberblk:HedgeFundsEquityOtherMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:MoneyMarketFundsMember2022-12-310001364742blk:BlackrockMutualFundsAndIsharesETFsMember2022-12-310001364742us-gaap:CustomerRelationshipsMemberblk:AperioGroupLimitedLiabilityCompanyMember2021-02-010001364742srt:MaximumMemberus-gaap:LeaseholdImprovementsMember2022-01-012022-12-310001364742us-gaap:CustomerRelationshipsMember2021-12-310001364742us-gaap:SeriesBPreferredStockMember2021-01-012021-12-310001364742srt:MaximumMemberus-gaap:EquityMethodInvestmentsMemberus-gaap:HedgeFundsEquityMember2022-01-012022-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMember2022-12-310001364742blk:LongTermRevenueMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742blk:HedgeFundsEquityOtherMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberblk:PrivateEquityFundsOfFundsMember2022-12-310001364742blk:RestrictedStockUnitsAndRestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2022-01-012022-12-310001364742blk:DefinedContributionPlansMembercountry:US2020-01-012020-12-310001364742blk:MultiAssetMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742blk:TradingSecuritiesAssetsMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001364742blk:PNCMember2020-05-152020-05-150001364742blk:ThreePointTwoFivePercentNotesDueTwoThousandTwentyNineMember2019-04-300001364742blk:OtherFundsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001364742blk:RelatedToSameTaxJurisdictionMember2022-12-310001364742blk:RevenueByClientTypeMemberblk:InstitutionalIndexMember2020-01-012020-12-310001364742us-gaap:ForeignExchangeForwardMemberus-gaap:OtherLiabilitiesMember2021-12-310001364742us-gaap:CommonStockMember2022-01-012022-12-310001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberblk:MaximumRiskOfLossMember2021-12-310001364742us-gaap:RetainedEarningsUnappropriatedMember2022-12-310001364742us-gaap:TechnologyServiceMember2025-01-012022-12-310001364742us-gaap:OtherAssetsMemberus-gaap:ForeignExchangeForwardMember2021-12-310001364742blk:OtherFundsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2022-12-310001364742us-gaap:TreasuryStockMember2022-01-012022-12-310001364742blk:FederalReserveBankStockMember2021-12-310001364742blk:ThreePointTwoFivePercentNotesDueTwoThousandTwentyNineMember2022-01-012022-12-310001364742us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-12-310001364742blk:FixedIncomeActiveProductsMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel2Memberblk:HedgeFundsEquityOtherMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-01-012022-12-310001364742blk:RevenueByClientTypeMemberblk:CashManagementMember2020-01-012020-12-310001364742us-gaap:ParentMember2021-01-012021-12-3100013647422022-01-01us-gaap:InvestmentAdviceMember2021-12-310001364742us-gaap:OtherInvestmentsMember2021-12-310001364742blk:VoluntaryDeferredCompensationPlanMemberblk:DeferredCompensationPlansMember2022-12-310001364742us-gaap:StateAndLocalJurisdictionMember2022-12-310001364742blk:RestrictedStockUnitsAndRestrictedStockMemberus-gaap:SubsequentEventMember2023-01-012023-01-310001364742blk:RevenueByInvestmentStyleMemberblk:EquityIndexAndETFsMember2021-01-012021-12-310001364742us-gaap:DistributionAndShareholderServiceMemberblk:OtherDistributionFeesMember2022-01-012022-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001364742us-gaap:OtherComprehensiveIncomeMember2022-01-012022-12-310001364742srt:AmericasMember2020-01-012020-12-310001364742blk:EquityFixedIncomeAndMultiAssetMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMember2022-01-012022-12-310001364742blk:SecondaryPublicOfferingMemberblk:PNCMemberus-gaap:CommonStockMember2020-05-152020-05-150001364742us-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742blk:PerformanceBasedRestrictedStockUnitsMember2022-01-012022-03-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:InvestmentPerformanceMemberblk:EquityProductMember2022-01-012022-12-310001364742us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-12-310001364742us-gaap:CommonStockMemberblk:SharesOutstandingMember2022-12-310001364742us-gaap:AssetBackedSecuritiesMember2021-12-310001364742blk:DefinedContributionPlansMembercountry:GB2020-01-012020-12-310001364742us-gaap:TotalReturnSwapMember2022-12-310001364742us-gaap:TechnologyBasedIntangibleAssetsMember2021-01-012021-12-310001364742us-gaap:CustomerRelationshipsMember2022-12-310001364742us-gaap:OtherComprehensiveIncomeMember2020-01-012020-12-310001364742blk:AcquiredManagementContractsIndefiniteLivedIntangibleAssetsMember2022-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2022-12-310001364742blk:CarriedInterestMemberus-gaap:ConsolidatedEntitiesMember2022-12-310001364742blk:TwoPointFourZeroPercentNotesDueTwoThousandThirtyMember2020-01-310001364742us-gaap:FairValueInputsLevel3Memberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:TechnologyServiceMember2023-01-012022-12-310001364742us-gaap:TechnologyServiceMember2021-01-012021-12-310001364742blk:RevenueByInvestmentStyleMemberblk:LongTermRevenueMember2022-01-012022-12-310001364742blk:RevenueByClientTypeMemberblk:CashManagementMember2021-01-012021-12-310001364742us-gaap:DomesticCountryMember2020-01-012020-12-310001364742us-gaap:SeriesBPreferredStockMember2019-12-310001364742blk:AperioGroupLimitedLiabilityCompanyMember2021-02-012021-02-010001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberblk:AdvisoryFeeReceivablesMember2021-12-310001364742us-gaap:LeaseholdImprovementsMember2022-12-310001364742srt:MinimumMemberus-gaap:LeaseholdImprovementsMember2022-01-012022-12-310001364742us-gaap:CollateralizedLoanObligationsMember2022-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:TotalReturnSwapMemberus-gaap:OtherLiabilitiesMember2021-12-310001364742blk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742srt:MinimumMemberus-gaap:EquityMethodInvestmentsMemberus-gaap:HedgeFundsEquityMember2021-01-012021-12-310001364742blk:UnsecuredUnsubordinatedDebtMember2012-05-3100013647422024-01-01us-gaap:InvestmentAdviceMember2021-12-310001364742us-gaap:EquitySecuritiesMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:EmployeeStockOptionMember2021-01-012021-12-310001364742us-gaap:RealEstateFundsMember2022-12-310001364742blk:UnsecuredDebtTwoZeroTwoSevenNotesMember2022-01-012022-12-310001364742blk:DefinedContributionPlansMembercountry:US2021-01-012021-12-310001364742blk:IlliquidAlternativesMemberblk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742srt:AsiaPacificMember2021-12-310001364742blk:TradingSecuritiesAssetsMemberus-gaap:DebtSecuritiesMember2021-12-310001364742blk:EquityAndFixedIncomeMutualFundsMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:InvestmentAdviceMember2022-12-310001364742blk:FivePercentNotesDueTwoThousandNineteenMember2019-12-012019-12-310001364742us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberblk:EquityFixedIncomeAndMultiAssetMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:InstitutionalActiveMemberblk:RevenueByClientTypeMember2021-01-012021-12-310001364742us-gaap:ForeignExchangeFutureMember2022-01-012022-12-310001364742us-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742blk:HedgeFundsEquityOtherMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-3100013647422022-10-012022-12-310001364742blk:TwoPointFourZeroPercentNotesDueTwoThousandThirtyMember2022-01-012022-12-310001364742blk:LiquidAlternativesMemberblk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001364742us-gaap:OtherComprehensiveIncomeMember2021-01-012021-12-310001364742srt:AmericasMember2022-01-012022-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMember2020-12-310001364742us-gaap:InvestmentPerformanceMemberblk:AlternativeInvestmentsProductsMember2022-01-012022-12-310001364742us-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-3100013647422024-01-01us-gaap:InvestmentAdviceMember2022-12-310001364742us-gaap:SeriesBPreferredStockMemberblk:SharesOutstandingMember2022-01-012022-12-310001364742us-gaap:TrademarksAndTradeNamesMember2022-12-310001364742blk:AperioGroupLimitedLiabilityCompanyMemberus-gaap:OtherIntangibleAssetsMember2021-02-010001364742us-gaap:BuildingImprovementsMember2022-12-310001364742blk:EquityAndFixedIncomeMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:TradingSecuritiesAssetsMemberus-gaap:DebtSecuritiesMember2020-12-310001364742blk:FixedIncomeNonETFIndexMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742blk:InvestmentInNAVMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742srt:MinimumMember2022-01-012022-12-310001364742us-gaap:OtherAssetsMemberus-gaap:ForeignExchangeForwardMember2022-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:EquityMethodInvestmentsMember2022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:EquityActiveProductMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:RevenueByInvestmentStyleMemberblk:LongTermRevenueMember2021-01-012021-12-310001364742us-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742srt:AffiliatedEntityMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:EquityMethodInvestmentsMember2021-01-012021-12-310001364742us-gaap:ShareBasedCompensationAwardTrancheTwoMemberblk:RestrictedStockUnitsAndRestrictedStockMember2020-01-012020-12-310001364742us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-12-310001364742blk:PerformanceBasedRestrictedStockUnitsMember2022-01-012022-01-310001364742blk:FixedIncomeETFsMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742blk:DefinedContributionPlansMembercountry:US2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001364742blk:FixedIncomeNonETFIndexMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742us-gaap:SeriesBPreferredStockMember2022-12-310001364742blk:TwoPointFourZeroPercentNotesDueTwoThousandThirtyMember2022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:RealEstateFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:DistributionAndShareholderServiceMemberblk:USMutualFundsDistributionFeesMember2021-01-012021-12-310001364742blk:RevenueByClientTypeMemberblk:LongTermRevenueMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel2Memberblk:EquityFixedIncomeAndMultiAssetMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:CustomerRelationshipsMember2022-01-012022-12-310001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberblk:MaximumRiskOfLossMember2022-12-310001364742blk:FixedIncomeMemberus-gaap:InvestmentPerformanceMember2020-01-012020-12-310001364742srt:EuropeMember2022-01-012022-12-310001364742blk:PerformanceBasedStockOptionsMember2022-01-012022-12-310001364742us-gaap:TechnologyBasedIntangibleAssetsMember2022-01-012022-12-310001364742us-gaap:EquityMethodInvestmentsMember2021-12-310001364742blk:PerformanceBasedStockOptionsMember2021-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:ForeignCountryMember2021-01-012021-12-310001364742blk:UnsecuredDebt2022NoteMember2012-05-3100013647422022-01-012022-12-310001364742us-gaap:SeriesBPreferredStockMemberblk:SharesOutstandingMember2020-12-310001364742us-gaap:InvestmentPerformanceMemberblk:FixedIncomeMember2021-01-012021-12-310001364742blk:FixedIncomeMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:InvestmentsMember2022-12-310001364742us-gaap:ServiceOtherMember2021-01-012021-12-310001364742blk:VoluntaryDeferredCompensationPlanMember2020-01-012020-12-310001364742us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001364742us-gaap:ParentMember2019-12-310001364742us-gaap:FairValueOptionOtherEligibleItemsMember2022-12-310001364742srt:AffiliatedEntityMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310001364742us-gaap:TechnologyBasedIntangibleAssetsMember2021-12-310001364742srt:AmericasMember2022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:RealEstateFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:EquityMethodInvestmentsMemberus-gaap:HedgeFundsEquityMember2021-12-310001364742blk:FixedIncomeMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2022-01-012022-12-310001364742blk:AcquiredManagementContractsIndefiniteLivedIntangibleAssetsMember2021-12-310001364742us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-01-012020-12-310001364742blk:EquipmentAndComputerSoftwareMember2020-12-310001364742blk:AnnualRSUsGrantedMemberblk:RestrictedStockUnitsAndRestrictedStockMember2020-01-012020-12-310001364742blk:ConsolidatedSponsoredInvestmentProductsMemberus-gaap:EquitySecuritiesMember2021-12-310001364742blk:RedeemableNoncontrollingInterestsMember2021-12-310001364742us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:FurnitureAndFixturesMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel1Memberblk:HedgeFundsEquityOtherMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742srt:MinimumMember2022-12-310001364742blk:RevenueByClientTypeMemberblk:RetailClientsMember2022-01-012022-12-310001364742blk:TwoPointOneZeroPercentNotesDueTwoThousandThirtyTwoMember2022-01-012022-12-310001364742blk:RevenueByClientTypeMember2021-01-012021-12-310001364742srt:EuropeMember2022-12-310001364742us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2019-12-310001364742us-gaap:CommonStockMember2019-12-310001364742blk:OtherEquipmentMember2022-01-012022-12-310001364742us-gaap:StateAndLocalJurisdictionMember2021-12-310001364742us-gaap:TechnologyServiceMember2020-01-012020-12-310001364742blk:AcquiredManagementContractsFiniteLivedIntangibleAssetsMember2022-12-310001364742us-gaap:TreasuryStockMember2019-12-310001364742us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-12-310001364742blk:EquityProductMemberus-gaap:InvestmentAdviceMember2020-01-012020-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-01-012021-12-310001364742us-gaap:RestrictedStockUnitsRSUMember2022-12-310001364742us-gaap:TechnologyServiceMember2023-01-012021-12-310001364742us-gaap:InvestmentPerformanceMemberblk:AlternativeInvestmentsProductsMember2020-01-012020-12-310001364742blk:RevenueByInvestmentStyleMemberblk:LongTermRevenueMember2020-01-012020-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:DeferredCompensationPlansMember2020-12-310001364742blk:SecondaryPublicOfferingMemberblk:PNCMemberus-gaap:CommonStockMember2020-05-150001364742us-gaap:CommonStockMember2021-12-310001364742srt:MaximumMemberblk:ShareRepurchaseProgramMemberus-gaap:SubsequentEventMember2023-01-012023-01-310001364742us-gaap:CommonStockMemberblk:SharesOutstandingMember2022-01-012022-12-310001364742blk:AperioGroupLimitedLiabilityCompanyMember2021-01-012021-12-310001364742srt:MaximumMemberblk:WealthManagementCompanyLtdMember2021-06-300001364742blk:DeferredCompensationPlansMember2022-12-310001364742us-gaap:SubsequentEventMember2023-01-252023-01-250001364742blk:RestrictedStockUnitsAndRestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-01-012021-12-310001364742blk:PerformanceBasedRestrictedStockUnitsMember2021-01-012021-03-310001364742us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001364742blk:OnePointTwoFivePercentNotesDueTwoThousandTwentyFiveMember2015-05-060001364742us-gaap:OtherAssetsMember2021-12-310001364742blk:SixPointTwoFivePercentNotesDueTwoThousandSeventeenMember2017-04-300001364742us-gaap:LicensingAgreementsMember2022-12-310001364742us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:EquityMethodInvestmentsMemberus-gaap:HedgeFundsEquityMember2021-12-310001364742us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:CommonStockPointZeroOneParValueMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:LiquidAlternativesMemberus-gaap:InvestmentPerformanceMemberblk:AlternativeInvestmentsProductsMember2020-01-012020-12-310001364742us-gaap:ForeignExchangeFutureMemberus-gaap:OtherLiabilitiesMember2022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:FixedIncomeFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742srt:MaximumMember2022-12-310001364742blk:VoluntaryDeferredCompensationPlanMember2021-01-012021-12-310001364742blk:ThreePointTwoZeroPercentNotesDueTwoThousandTwentySevenMember2022-12-3100013647422021-12-310001364742blk:RevenueByClientTypeMemberblk:RetailClientsMember2020-01-012020-12-310001364742blk:AnnualRSUsGrantedMemberblk:RestrictedStockUnitsAndRestrictedStockMember2022-01-012022-12-310001364742us-gaap:TechnologyServiceMember2026-01-012022-12-310001364742blk:InvestmentProfessionalDeferredCompensationProgramMember2020-01-012020-12-3100013647422023-01-01us-gaap:InvestmentAdviceMember2021-12-310001364742us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:OtherLiabilitiesMember2022-12-310001364742blk:AlternativesCurrencyAndCommoditiesMemberblk:AlternativeInvestmentsProductsMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742srt:MaximumMemberus-gaap:EquityMethodInvestmentsMemberus-gaap:HedgeFundsEquityMember2021-01-012021-12-310001364742us-gaap:SeriesBPreferredStockMember2022-01-012022-12-310001364742us-gaap:InvestmentPerformanceMemberblk:AlternativeInvestmentsProductsMember2021-01-012021-12-3100013647422020-07-302020-07-310001364742us-gaap:ParentMember2020-01-012020-12-310001364742us-gaap:EmployeeStockOptionMember2022-01-012022-12-310001364742blk:RedeemableNoncontrollingInterestsMember2020-01-012020-12-310001364742us-gaap:InvestmentPerformanceMemberblk:EquityProductMember2020-01-012020-12-310001364742blk:UnsecuredDebt2022NoteMember2022-01-012022-12-310001364742us-gaap:ForeignExchangeForwardMember2022-01-012022-12-310001364742us-gaap:DebtSecuritiesMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-3100013647422019-12-310001364742us-gaap:FairValueInputsLevel1Memberblk:EquityFixedIncomeAndMultiAssetMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:ForeignCountryMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:TwoThousandTwentyTwoRevolvingCreditFacilitiesMember2021-12-310001364742blk:FixedIncomeETFsMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742blk:TwoPointFourZeroPercentNotesDueTwoThousandThirtyMember2020-01-012020-01-310001364742us-gaap:ServiceOtherMemberblk:OtherAdvisoryRevenueMember2022-01-012022-12-310001364742blk:InvestmentInNAVMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:RetainedEarningsUnappropriatedMember2020-12-310001364742srt:AmericasMember2021-01-012021-12-310001364742us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:RedeemableNoncontrollingInterestsMember2021-01-012021-12-310001364742blk:IcapitalMember2021-12-310001364742us-gaap:ServiceOtherMemberblk:OtherAdvisoryRevenueMember2020-01-012020-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:IlliquidAlternativesMemberus-gaap:InvestmentPerformanceMemberblk:AlternativeInvestmentsProductsMember2020-01-012020-12-310001364742blk:RevenueByInvestmentStyleMember2022-01-012022-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:TotalReturnSwapMemberus-gaap:OtherLiabilitiesMember2022-12-310001364742us-gaap:NoncontrollingInterestMember2022-01-012022-12-310001364742blk:DefinedContributionPlansMembercountry:GB2021-01-012021-12-310001364742us-gaap:RestrictedStockUnitsRSUMember2022-01-012022-12-310001364742us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:FairValueInputsLevel1Memberblk:EquityMutualFundInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742blk:TwoPointOneZeroPercentNotesDueTwoThousandThirtyTwoMember2021-12-310001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2022-01-012022-12-310001364742us-gaap:CustomerRelationshipsMemberblk:AperioMember2021-02-012021-02-010001364742blk:IlliquidAlternativesMemberus-gaap:InvestmentPerformanceMemberblk:AlternativeInvestmentsProductsMember2021-01-012021-12-310001364742us-gaap:FairValueInputsLevel1Memberblk:EquityMutualFundInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742srt:AsiaPacificMember2020-01-012020-12-310001364742blk:RestrictedStockUnitsAndRestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2022-01-012022-12-310001364742blk:OnePointTwoFiveZeroPercentNotesDueTwoThousandTwentyFiveMember2022-01-012022-12-310001364742blk:DeferredCompensationPlanOtherMember2022-01-012022-12-310001364742us-gaap:AssetBackedSecuritiesMember2022-12-310001364742us-gaap:CommonStockMember2020-01-012020-12-310001364742us-gaap:InvestmentPerformanceMember2021-01-012021-12-310001364742us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:InvestmentInNAVMemberus-gaap:RealEstateFundsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742us-gaap:TrademarksAndTradeNamesMember2022-12-310001364742us-gaap:TrademarksAndTradeNamesMember2021-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742blk:RevenueByInvestmentStyleMember2021-01-012021-12-310001364742blk:NonaffiliatedEntitiesMemberus-gaap:InvestmentAdviceMember2021-01-012021-12-310001364742blk:AperioGroupLimitedLiabilityCompanyMember2021-02-010001364742us-gaap:DebtSecuritiesMember2020-12-310001364742us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberblk:OtherNetAssetsLiabilitiesMember2021-12-310001364742blk:ConsolidatedVotingRightsEntitiesMemberus-gaap:EquitySecuritiesMember2021-12-310001364742us-gaap:CollateralizedLoanObligationsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-01-012021-12-3100013647422025-01-01us-gaap:InvestmentAdviceMember2022-12-310001364742us-gaap:ForeignExchangeFutureMember2020-01-012020-12-310001364742us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:RealEstateFundsMember2021-12-310001364742blk:RestrictedStockUnitsAndRestrictedStockMember2022-01-012022-12-310001364742blk:RevenueByClientTypeMemberblk:InstitutionalIndexMember2021-01-012021-12-310001364742blk:ThreePointTwoFivePercentNotesDueTwoThousandTwentyNineMember2022-12-310001364742blk:InvestmentInNAVMemberus-gaap:PrivateEquityFundsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:ForeignCountryMember2022-12-310001364742blk:RevenueByClientTypeMemberblk:InstitutionalIndexMember2022-01-012022-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:DistributionAndShareholderServiceMemberblk:USMutualFundsDistributionFeesMember2022-01-012022-12-310001364742us-gaap:InvestmentPerformanceMemberblk:MultiAssetMember2020-01-012020-12-310001364742srt:MaximumMember2022-01-012022-12-310001364742us-gaap:InvestmentPerformanceMemberblk:MultiAssetMember2021-01-012021-12-310001364742us-gaap:InvestmentsMember2021-12-310001364742blk:RevenueByClientTypeMemberblk:LongTermRevenueMember2020-01-012020-12-310001364742us-gaap:CollateralizedLoanObligationsMember2021-12-310001364742blk:OtherFundsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001364742us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PrivateEquityFundsMember2021-12-3100013647422020-01-012020-12-310001364742blk:DefinedBenefitPlansMember2021-12-310001364742srt:AsiaPacificMember2022-01-012022-12-310001364742blk:RedeemableNoncontrollingInterestsMember2022-12-310001364742blk:OnePointNineZeroPercentNotesDueTwoThousandThirtyOneMember2022-12-310001364742us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001364742us-gaap:CollateralizedLoanObligationsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-12-310001364742us-gaap:SeriesBPreferredStockMember2020-01-012020-12-310001364742us-gaap:OtherLiabilitiesMember2021-12-310001364742blk:IcapitalMember2022-01-012022-12-310001364742blk:HedgeFundsEquityOtherMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:CommercialPaperMember2022-12-310001364742us-gaap:LandMember2021-12-310001364742blk:UnsecuredDebt2015NoteMember2012-05-310001364742us-gaap:NoncontrollingInterestMember2022-12-310001364742blk:InvestmentInNAVMemberblk:HedgeFundsEquityOtherMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001364742us-gaap:DebtSecuritiesMember2021-12-310001364742blk:DefinedContributionPlansMemberblk:OtherRegionsMember2020-01-012020-12-310001364742blk:PerformanceBasedRestrictedStockUnitsMember2020-01-012020-12-3100013647422020-10-060001364742blk:ShareRepurchaseProgramMember2022-01-012022-12-310001364742us-gaap:FurnitureAndFixturesMember2021-12-310001364742us-gaap:CommonStockMember2022-12-310001364742us-gaap:ParentMember2020-12-310001364742us-gaap:ForeignExchangeFutureMember2022-12-3100013647422022-01-01us-gaap:TechnologyServiceMember2021-12-310001364742us-gaap:DebtSecuritiesMember2022-12-310001364742us-gaap:BorrowingsMember2021-12-310001364742us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310001364742us-gaap:InvestmentsMember2022-01-012022-12-310001364742blk:EquityActiveProductMemberus-gaap:InvestmentAdviceMember2022-01-012022-12-310001364742us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2022-12-310001364742us-gaap:TechnologyServiceMember2022-01-012022-12-310001364742us-gaap:RealEstateFundsMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:InvestmentPerformanceMemberblk:EquityProductMember2021-01-012021-12-310001364742blk:PerformanceBasedStockOptionsMember2017-01-012017-12-310001364742srt:EuropeMember2021-01-012021-12-310001364742blk:DeferredCompensationPlansMember2021-12-310001364742us-gaap:InvestmentPerformanceMember2022-01-012022-12-310001364742blk:InvestmentInNAVMemberus-gaap:PrivateEquityFundsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001364742us-gaap:EquitySecuritiesMember2021-12-310001364742blk:LiquidAlternativesMemberus-gaap:InvestmentPerformanceMemberblk:AlternativeInvestmentsProductsMember2021-01-012021-12-31iso4217:EURxbrli:purexbrli:sharesiso4217:USDxbrli:sharesblk:Installmentblk:Segmentiso4217:USD

 

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-K

 

(Mark One)

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2022

or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to .

Commission File No. 001-33099

 

 

img176574761_0.jpg 

BlackRock, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

32-0174431

(State or Other Jurisdiction of

Incorporation or Organization)

(I.R.S. Employer

Identification No.)

50 Hudson Yards, New York, NY 10001

(Address of Principal Executive Offices)

(212) 810-5300

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common Stock, $.01 par value

 

BLK

 

New York Stock Exchange

1.250% Notes due 2025

 

BLK25

 

New York Stock Exchange

 

Securities registered pursuant to Section 12(g) of the Act:

None

 

Indicate by check mark if the registrant is a well-known, seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

 

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

The aggregate market value of the voting common stock held by nonaffiliates of the registrant as of June 30, 2022 was approximately $91 billion.

As of January 31, 2023, there were 150,236,373 shares of the registrant’s common stock outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

The following documents are incorporated by reference herein:

Portions of the definitive Proxy Statement of BlackRock, Inc. to be filed pursuant to Regulation 14A of the general rules and regulations under the Securities Exchange Act of 1934, as amended, for the 2023 annual meeting of stockholders (“Proxy Statement”) are incorporated by reference into Part III of this Form 10-K.

 

 

 

 


 

BlackRock, Inc.

Table of Contents

 

PART I

 

 

 

 

Item 1

Business

1

Item 1A

Risk Factors

20

Item 1B

Unresolved Staff Comments

32

Item 2

Properties

32

Item 3

Legal Proceedings

32

Item 4

Mine Safety Disclosures

32

 

 

PART II

 

 

 

 

Item 5

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

33

Item 6

[Reserved]

33

Item 7

Management’s Discussion and Analysis of Financial Condition and Results of Operations

34

Item 7A

Quantitative and Qualitative Disclosures About Market Risk

56

Item 8

Financial Statements and Supplemental Data

57

Item 9

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

57

Item 9A

Controls and Procedures

57

Item 9B

Other Information

60

Item 9C

Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

60

 

 

PART III

 

 

 

 

Item 10

Directors, Executive Officers and Corporate Governance

60

Item 11

Executive Compensation

60

Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

60

Item 13

Certain Relationships and Related Transactions, and Director Independence

60

Item 14

Principal Accountant Fees and Services

60

 

 

PART IV

 

 

 

 

Item 15

Exhibits and Financial Statement Schedules

61

Item 16

Form 10-K Summary

63

 

Signatures

64

 

 


 

Part I

Item 1. Business

Overview

BlackRock, Inc. (together, with its subsidiaries, unless the context otherwise indicates, “BlackRock” or the “Company”) is a leading publicly traded investment management firm with $8.6 trillion of assets under management (“AUM”) at December 31, 2022. With approximately 19,800 employees in more than 30 countries who serve clients in over 100 countries across the globe, BlackRock provides a broad range of investment management and technology services to institutional and retail clients worldwide.

BlackRock’s diverse platform of alpha-seeking active, index and cash management investment strategies across asset classes enables the Company to offer choice and tailor investment outcomes and asset allocation solutions for clients. Product offerings include single- and multi-asset portfolios investing in equities, fixed income, alternatives and money market instruments. Products are offered directly and through intermediaries in a variety of vehicles, including open-end and closed-end mutual funds, iShares® and BlackRock exchange-traded funds (“ETFs”), separate accounts, collective trust funds and other pooled investment vehicles. BlackRock also offers technology services, including the investment and risk management technology platform, Aladdin®, Aladdin Wealth, eFront, and Cachematrix, as well as advisory services and solutions to a broad base of institutional and wealth management clients. The Company is highly regulated and manages its clients’ assets as a fiduciary. The Company does not engage in proprietary trading activities that could conflict with the interests of its clients.

BlackRock serves a diverse mix of institutional and retail clients across the globe. Clients include tax-exempt institutions, such as defined benefit and defined contribution pension plans, charities, foundations and endowments; official institutions, such as central banks, sovereign wealth funds, supranationals and other government entities; taxable institutions, including insurance companies, financial institutions, corporations and third-party fund sponsors, and retail intermediaries.

BlackRock maintains a significant global sales and marketing presence that is focused on establishing and maintaining retail and institutional investment management and technology service relationships by marketing its services to investors directly and through third-party distribution relationships, including financial professionals and pension consultants.

BlackRock is an independent, publicly traded company, with no single majority shareholder and over 85% of its Board of Directors consisting of independent directors.

Management seeks to deliver value for stockholders over time by, among other things, capitalizing on BlackRock’s differentiated competitive position, including:

the Company’s longstanding model of client choice, through which it offers a wide range of index, active, and whole portfolio solutions across broad markets, themes, regions, and investment styles;
the Company's focus on strong investment performance, seeking the best risk-adjusted returns for client portfolios, within the mandates given by clients, to help them meet their investment objectives;
the Company's research, data and analytics, which are at the center of BlackRock's investment approach and processes. They inform BlackRock's pursuit of the best risk-adjusted returns, and underpin product creation and innovation;
the Company’s global reach and commitment to best practices around the world, with approximately 50% of employees outside the United States ("US") serving clients locally and supporting local investment capabilities. Approximately 40% of total AUM is managed for clients domiciled outside the US;
the Company’s differentiated client relationships and fiduciary focus, which enable effective positioning toward changing client needs and industry trends including the secular shift to index investing and ETFs, growing allocations to private markets, increasing demand for outsourcing, anticipated re-allocations to fixed income, demand for high-performing active strategies, interest in sustainable investment strategies and whole portfolio solutions using index, active and illiquid alternatives products; and a continued focus on income and retirement; and
the Company’s longstanding commitment to innovation, technology services and the continued development of, and increased interest in, BlackRock technology products and solutions, including Aladdin, Aladdin Wealth, eFront, and Cachematrix. This commitment is further extended by minority investments in financial technology and digital distribution providers, data and whole portfolio capabilities including Human Interest, Circle, Envestnet, Scalable Capital, iCapital, Acorns, and Clarity AI.

BlackRock operates in a global marketplace impacted by changing market dynamics and economic uncertainty, factors that can significantly affect earnings and stockholder returns in any given period.

The Company’s ability to increase revenue, earnings and stockholder value over time is predicated on its ability to generate new business, including business in Aladdin and other technology products and services. New business efforts depend on BlackRock’s ability to achieve clients’ investment objectives, in a manner consistent with their risk preferences, to deliver excellent client service and to innovate in technology to serve clients’ evolving needs. All of these efforts require the commitment and contributions of BlackRock employees. Accordingly, the ability to attract, develop and retain qualified professionals is critical to the Company’s long-term success.

1


 

Financial Highlights

(in millions, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP:

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

2018

 

Total revenue

 

$

17,873

 

 

$

19,374

 

 

$

16,205

 

 

$

14,539

 

 

$

14,198

 

Operating income

 

$

6,385

 

 

$

7,450

 

 

$

5,695

 

 

$

5,551

 

 

$

5,457

 

Operating margin

 

 

35.7

%

 

 

38.5

%

 

 

35.1

%

 

 

38.2

%

 

 

38.4

%

Nonoperating income (expense)(1)

 

$

89

 

 

$

419

 

 

$

475

 

 

$

186

 

 

$

(76

)

Net income attributable to BlackRock, Inc.

 

$

5,178

 

 

$

5,901

 

 

$

4,932

 

 

$

4,476

 

 

$

4,305

 

Diluted earnings per common share

 

$

33.97

 

 

$

38.22

 

 

$

31.85

 

 

$

28.43

 

 

$

26.58

 

 

(in millions, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As adjusted(2):

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

2018

 

Operating income

 

$

6,711

 

 

$

7,747

 

 

$

6,433

 

 

$

5,784

 

 

$

5,701

 

Operating margin

 

 

42.8

%

 

 

46.8

%

 

 

46.0

%

 

 

45.5

%

 

 

45.6

%

Nonoperating income (expense)(1)

 

$

89

 

 

$

419

 

 

$

353

 

 

$

186

 

 

$

(76

)

Net income attributable to BlackRock, Inc.

 

$

5,391

 

 

$

6,254

 

 

$

5,352

 

 

$

4,664

 

 

$

4,493

 

Diluted earnings per common share

 

$

35.36

 

 

$

40.51

 

 

$

34.57

 

 

$

29.62

 

 

$

27.74

 

 

(1)
Net of net income (loss) attributable to noncontrolling interests (redeemable and nonredeemable).
(2)
BlackRock reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP”); however, management believes evaluating the Company’s ongoing operating results may be enhanced if investors have additional non-GAAP financial measures.

Beginning in the first quarter of 2022, BlackRock updated the definitions of operating income, as adjusted, operating margin, as adjusted, and net income attributable to BlackRock, Inc., as adjusted, to include new adjustments. Such measures have been recast for all prior periods to reflect the inclusion of such new adjustments. For further information on non-GAAP financial measures and as adjusted items, see Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP Financial Measures.

Assets Under Management

The Company’s AUM by product type for the years 2018 through 2022 is presented below.

 

December 31,

 

 

 

 

(in millions)

2022

 

 

2021

 

 

2020

 

 

2019

 

 

2018

 

 

5-Year
CAGR
(1)

 

Equity

$

4,435,354

 

 

$

5,342,360

 

 

$

4,419,806

 

 

$

3,820,329

 

 

$

3,035,825

 

 

 

6

%

Fixed income

 

2,536,823

 

 

 

2,822,041

 

 

 

2,674,488

 

 

 

2,315,392

 

 

 

1,884,417

 

 

 

6

%

Multi-asset

 

684,904

 

 

 

816,494

 

 

 

658,733

 

 

 

568,121

 

 

 

461,884

 

 

 

7

%

Alternatives

 

266,210

 

 

 

264,881

 

 

 

235,042

 

 

 

178,072

 

 

 

143,358

 

 

 

16

%

Long-term

 

7,923,291

 

 

 

9,245,776

 

 

 

7,988,069

 

 

 

6,881,914

 

 

 

5,525,484

 

 

 

6

%

Cash management

 

671,194

 

 

 

755,057

 

 

 

666,252

 

 

 

545,949

 

 

 

448,565

 

 

 

8

%

Advisory

 

 

 

 

9,310

 

 

 

22,359

 

 

 

1,770

 

 

 

1,769

 

 

 

 

Total

$

8,594,485

 

 

$

10,010,143

 

 

$

8,676,680

 

 

$

7,429,633

 

 

$

5,975,818

 

 

 

6

%

 

(1)
Percentage represents CAGR over a five-year period (December 31, 2017 – December 31, 2022).

Component changes in AUM by product type for the five years ended December 31, 2022 are presented below.

(in millions)

December 31,
2017

 

 

Net inflows
(outflows)

 

 

Acquisitions(1)

 

 

Market
change

 

 

FX
impact

 

 

December 31,
2022

 

 

5-Year
CAGR
(2)

 

Equity

$

3,371,641

 

 

$

299,298

 

 

$

43,914

 

 

$

843,558

 

 

$

(123,057

)

 

$

4,435,354

 

 

 

6

%

Fixed income

 

1,855,465

 

 

 

980,768

 

 

 

18,538

 

 

 

(211,347

)

 

 

(106,601

)

 

 

2,536,823

 

 

 

6

%

Multi-asset

 

480,278

 

 

 

178,069

 

 

 

683

 

 

 

55,358

 

 

 

(29,484

)

 

 

684,904

 

 

 

7

%

Alternatives

 

129,347

 

 

 

110,318

 

 

 

5,003

 

 

 

25,596

 

 

 

(4,054

)

 

 

266,210

 

 

 

16

%

Long-term

 

5,836,731

 

 

 

1,568,453

 

 

 

68,138

 

 

 

713,165

 

 

 

(263,196

)

 

 

7,923,291

 

 

 

6

%

Cash management

 

449,949

 

 

 

223,072

 

 

 

686

 

 

 

4,515

 

 

 

(7,028

)

 

 

671,194

 

 

 

8

%

Advisory

 

1,515

 

 

 

(2,099

)

 

 

 

 

 

624

 

 

 

(40

)

 

 

 

 

 

 

Total

$

6,288,195

 

 

$

1,789,426

 

 

$

68,824

 

 

$

718,304

 

 

$

(270,264

)

 

$

8,594,485

 

 

 

6

%

 

(1)
Amounts include the following: (a) net AUM from the acquisitions of Tennenbaum Capital Partners in August 2018 (“TCP Transaction”) and the asset management business of Citibanamex in September 2018 (“Citibanamex Transaction”), (b) AUM reclassifications and net dispositions related to the transfer of BlackRock’s UK Defined Contribution Administration and Platform business to Aegon N.V. in July 2018 (“Aegon Transaction”), (c) net AUM dispositions related to the sale of BlackRock’s minority interest in DSP BlackRock Investment Managers Pvt. Ltd. to the DSP Group in August 2018 (“DSP Transaction”), and (d) net AUM from the acquisition of Aperio Group, LLC (“Aperio Transaction”) in February 2021.
(2)
Percentage represents CAGR over a five-year period (December 31, 2017 – December 31, 2022).

2


 

AUM represents the broad range of financial assets managed for clients on a discretionary basis pursuant to investment management and trust agreements that are expected to continue for at least 12 months. In general, reported AUM reflects the valuation methodology that corresponds to the basis used for determining revenue (for example, net asset value). Reported AUM does not include assets for which BlackRock provides risk management or other forms of nondiscretionary advice, or assets that the Company is retained to manage on a short-term, temporary basis.

Investment management fees are typically earned as a percentage of AUM. BlackRock also earns performance fees on certain portfolios relative to an agreed-upon benchmark or return hurdle. On some products, the Company also may earn securities lending revenue. In addition, BlackRock offers its proprietary Aladdin investment system as well as risk management, outsourcing, advisory and other technology services, to institutional investors and wealth management intermediaries. Revenue for these services may be based on several criteria including value of positions, number of users, implementation go-lives and software solution delivery and support.

At December 31, 2022, total AUM was $8.6 trillion, representing a CAGR of 6% over the last five years. AUM growth during the period was achieved through the combination of net market valuation gains, net inflows and acquisitions, including the net AUM impact from the TCP Transaction, the Citibanamex Transaction, the Aegon Transaction and the DSP Transaction, which added $27.5 billion of AUM in 2018, and the Aperio Transaction, which added $41.3 billion of AUM in February 2021. Our AUM mix encompasses a broadly diversified product range, as described below.

The Company considers the categorization of its AUM by client type, product type, investment style, and client region useful to understanding its business. The following discussion of the Company’s AUM will be organized as follows:

 

Client Type

Product Type

Investment Style

Client Region

 Retail

 Equity

 Active

 Americas

 ETFs

 Fixed Income

 Index and ETFs

 Europe, the Middle East and Africa (“EMEA”)

 Institutional

 Multi-asset

 

 Asia-Pacific

 

 Alternatives

 

 

 

 Cash Management

 

 

Client Type

BlackRock serves a diverse mix of institutional and retail clients across the globe, with a regionally focused business model. BlackRock leverages the benefits of scale across global investment, risk and technology platforms while at the same time using local distribution presence to deliver solutions for clients. Furthermore, our structure facilitates strong teamwork globally across both functions and regions in order to enhance our ability to leverage best practices to serve our clients and continue to develop our talent.

Clients include tax-exempt institutions, such as defined benefit and defined contribution pension plans, charities, foundations and endowments; official institutions, such as central banks, sovereign wealth funds, supranationals and other government entities; taxable institutions, including insurance companies, financial institutions, corporations and third-party fund sponsors, and retail intermediaries.

ETFs are a growing component of both institutional and retail client portfolios. However, as ETFs are traded on exchanges, complete transparency on the ultimate end-client is unavailable. Therefore, ETFs are presented as a separate client type below, with investments in ETFs by institutions and retail clients excluded from figures and discussions in their respective sections.

AUM by investment style and client type at December 31, 2022 is presented below.

(in millions)

Retail

 

 

ETFs

 

 

Institutional

 

 

Total

 

Active

$

675,969

 

 

$

 

 

$

1,641,591

 

 

$

2,317,560

 

Non-ETF Index

 

167,506

 

 

 

 

 

 

2,528,615

 

 

 

2,696,121

 

ETFs

 

 

 

 

2,909,610

 

 

 

 

 

 

2,909,610

 

Long-term

 

843,475

 

 

 

2,909,610

 

 

 

4,170,206

 

 

 

7,923,291

 

Cash management

 

6,953

 

 

 

 

 

 

664,241

 

 

 

671,194

 

Total

$

850,428

 

 

$

2,909,610

 

 

$

4,834,447

 

 

$

8,594,485

 

Retail

BlackRock serves retail investors globally through a wide array of vehicles across the investment spectrum, including separate accounts, open-end and closed-end funds, unit trusts and private investment funds. Retail investors are served principally through intermediaries, including broker-dealers, banks, trust companies, insurance companies and independent financial advisors. Technology solutions, digital distribution tools and a shift toward portfolio construction are increasing the number of financial advisors and end-retail investors using BlackRock products.

Retail represented 10% of long-term AUM at December 31, 2022 and 32% of long-term investment advisory and administration fees (collectively “base fees”) and securities lending revenue for 2022.

ETFs have a significant retail component but are shown separately below. With the exclusion of ETFs, the majority of retail AUM is comprised of active mutual funds. In the aggregate, active and index mutual funds totaled $660 billion, or approximately 80%, of retail long-term AUM at year-end, with the remainder invested in private investment funds and separately managed accounts. Approximately 80% of retail long-term AUM is invested in active products.

 

3


 

Component changes in retail long-term AUM for 2022 are presented below.

 

(in millions)

December 31,
2021

 

 

Net inflows
 (outflows)

 

 

Market
change

 

 

FX
impact

 

 

December 31,
2022

 

Equity

$

471,937

 

 

$

(103

)

 

$

(90,767

)

 

$

(10,455

)

 

$

370,612

 

Fixed income

 

365,306

 

 

 

(20,299

)

 

 

(41,706

)

 

 

(4,187

)

 

 

299,114

 

Multi-asset

 

155,461

 

 

 

(3,143

)

 

 

(26,064

)

 

 

(1,086

)

 

 

125,168

 

Alternatives

 

47,349

 

 

 

4,022

 

 

 

(2,271

)

 

 

(519

)

 

 

48,581

 

Total

$

1,040,053

 

 

$

(19,523

)

 

$

(160,808

)

 

$

(16,247

)

 

$

843,475

 

The retail client base is diversified geographically, with 69% of long-term AUM managed for investors based in the Americas, 26% in EMEA and 5% in Asia-Pacific at year-end 2022.

US retail long-term net outflows of $9 billion were driven by outflows from fixed income and multi-asset of $16 billion and $4 billion, respectively, partially offset by equity and alternatives net inflows of $8 billion, and $3 billion, respectively. Fixed income net outflows were primarily due to net outflows from unconstrained and high yield bond funds. Multi-asset net outflows were driven by world allocation and multi-asset income strategies. Alternatives net inflows were led by multi-strategy credit and tactical opportunities funds, and equity net inflows reflect continued growth in Aperio, BlackRock’s customized index equity solution.
International retail long-term net outflows of $10 billion were driven by equity net outflows of $8 billion, reflecting outflows from European equities and index equity. Fixed income net outflows of $4 billion were primarily due to net outflows from short duration, Asian and high yield bond strategies. Alternatives and multi-asset net inflows were $1 billion, and $716 million, respectively.

ETFs

BlackRock is the leading ETF provider in the world with $2.9 trillion of AUM at December 31, 2022, and generated net inflows of $220 billion in 2022. The majority of ETF AUM and net inflows represent the Company’s index-tracking iShares-branded ETFs. The Company also offers a select number of active BlackRock-branded ETFs that seek outperformance and/or differentiated outcomes.

Record fixed income ETF net inflows of $123 billion were diversified across exposures, led by flows into treasury, investment grade, and municipal ETFs. Equity ETF net inflows of $101 billion were driven by flows into core, sustainable and thematic ETFs, as well as continued client use of BlackRock’s broad-based precision exposure ETFs to express risk preferences and make tactical allocation changes during the year. Multi-asset ETFs saw net inflows of $1 billion, while alternative ETFs had net outflows of $5 billion, primarily driven by commodities funds.

ETFs represented 37% of long-term AUM at December 31, 2022 and 42% of long-term base fees and securities lending revenue for 2022.

Component changes in ETFs AUM for 2022 are presented below.

(in millions)

December 31,
2021

 

 

Net inflows
 (outflows)

 

 

Market
change

 

 

FX
impact

 

 

December 31,
2022

 

Equity

$

2,447,248

 

 

$

100,756

 

 

$

(449,140

)

 

$

(17,122

)

 

$

2,081,742

 

Fixed income

 

745,373

 

 

 

122,893

 

 

 

(103,957

)

 

 

(6,216

)

 

 

758,093

 

Multi-asset

 

9,119

 

 

 

1,333

 

 

 

(1,441

)

 

 

(136

)

 

 

8,875

 

Alternatives(1)

 

65,614

 

 

 

(4,647

)

 

 

70

 

 

 

(137

)

 

 

60,900

 

Total

$

3,267,354

 

 

$

220,335

 

 

$

(554,468

)

 

$

(23,611

)

 

$

2,909,610

 

 

(1)
Amounts include commodity ETFs.

BlackRock’s ETF product range offers investors a precise, transparent and efficient way to gain exposure to a full range of asset classes and global markets that have been difficult for many investors to access, as well as the liquidity required to make adjustments to their exposures quickly and cost-efficiently.

US ETF* AUM ended 2022 at $2.2 trillion with $165 billion of net inflows diversified across all product categories, and led by net inflows into core equity and fixed income ETFs.
International ETF* AUM ended 2022 at $745 billion with net inflows of $55 billion, similarly diversified across all product categories, and led by net inflows into core equity, fixed income and sustainable ETFs.

* Regional ETF amounts based on jurisdiction of product, not underlying client.

Institutional

BlackRock serves institutional investors on six continents in sub-categories including: pensions, endowments and foundations, official institutions, and financial institutions; institutional AUM is diversified across product and region.

Component changes in institutional long-term AUM for 2022 are presented below.

(in millions)

December 31,
2021

 

 

Net inflows
(outflows)