Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2012

Balances Relating To Variable Interest Entities In Which BlackRock Is The Primary Beneficiary

At September 30, 2012 and December 31, 2011, the following balances related to VIEs were consolidated on the Company’s condensed consolidated statements of financial condition:

(Dollar amounts in millions)	September 30, 2012			December 31, 2011
Assets of consolidated VIEs:
Cash and cash equivalents	$	292		$	54
Bank loans		1,495			1,459
Bonds		125			145
Other investments		63			35
Total bank loans, bonds and other investments		1,683			1,639
Liabilities of consolidated VIEs:
Borrowings		(1,843	)		(1,574	)
Other liabilities		(9	)		(9	)
Appropriated retained earnings		(56	)		(72	)
Non-controlling interests of consolidated VIEs		(54	)		(38	)
Total net interests in consolidated VIEs	$	13		$	—

Balances Relating To Variable Interest Entities In Which BlackRock Is Not The Primary Beneficiary

At September 30, 2012

	Variable Interests on the Condensed Consolidated Statement of Financial Condition
(Dollar amounts in millions)	Investments		Advisory Fee Receivables		Other Net Assets (Liabilities)			Maximum Risk of Loss
CDOs/CLOs	$	1	$	3	($	4	)	$	21
Other sponsored investment funds:
Collective trusts		—		186		—			186
Other		17		63		—			80
Total	$	18	$	252	($	4	)	$	287

At December 31, 2011

	Variable Interests on the Condensed Consolidated Statement of Financial Condition
(Dollar amounts in millions)	Investments		Advisory Fee Receivables		Other Net Assets (Liabilities)			Maximum Risk of Loss
CDOs/CLOs	$	1	$	2	($	3	)	$	20
Other sponsored investment funds:
Collective trusts		—		184		—			184
Other		18		54		(5	)		72
Total	$	19	$	240	($	8	)	$	276

Unconsolidated Collateralized Debt Or Loan Obligations And Other Sponsored Investment Funds

The net assets related to the above CDOs/CLOs and other sponsored investment funds, including collective trusts, that the Company does not consolidate were as follows:

CDOs/CLOs

(Dollar amounts in billions)	September 30, 2012			December 31, 2011
Assets at fair value	$	5		$	5
Liabilities(1)		7			7
Net assets	($	2	)	($	2	)

⁽¹⁾  Amounts primarily comprised of unpaid principal debt obligations to CDO/CLO debt holders.