Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

(unaudited)

(in millions)	Three Months Ended March  31, 2014			Year ended December 31,
				2013		2012			2011		2010			2009
Income before income taxes	$	1,068		$	3,973	$	3,470		$	3,135	$	3,021		$	1,272
Less: Net income (loss) attributable to noncontrolling interests(1)		(12	)		19		(18	)		2		(13	)		22
Pre-tax income attributable to BlackRock, Inc.		1,080			3,954		3,488			3,133		3,034			1,250
Add: Fixed charges		68			258		261			236		209			104
Distributions of earnings from equity method investees		7			80		42			30		14			18
Less: (Losses) earnings from equity method investees		39			158		175			23		141			30
Pre-tax income before fixed charges	$	1,116		$	4,134	$	3,616		$	3,376	$	3,116		$	1,342
Fixed charges:
Interest expense	$	53		$	211	$	215		$	176	$	150		$	68
Interest expense on uncertain tax positions(2)		4			3		3			10		8			8
Portion of rent representative of interest(3)		11			44		43			50		51			28
Total fixed charges	$	68		$	258	$	261		$	236	$	209		$	104
Ratio of earnings to fixed charges		16.4x			16.0x		13.9x			14.3x		14.9x			12.9x

⁽¹⁾ Amount includes redeemable and nonredeemable noncontrolling interests.

⁽²⁾ Interest expense on uncertain tax positions, in accordance with ASC 740-10, Income Taxes, has been recorded within income tax expense on the consolidated statements of income.

⁽³⁾  The portion of rent representative of interest is calculated as one third of the total rent expense.