BlackRock Inc

For the period ended Dec 31, 2024. Filed Feb 25, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 25, 2025

BLK$1,222.15+0.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statem ents of Cash Flows

(in millions)	2024	2023	2022
Operating activities
Net income	$6,512	$5,676	$4,994
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and amortization	529	427	418
Impairment of intangible assets	50	—	—
Noncash lease expense	129	140	165
Stock-based compensation	753	630	708
Deferred income tax expense (benefit)	(106)	124	602
Contingent consideration fair value adjustments	(36)	3	3
Other investment gains	(126)	—	(268)
Net (gains) losses within CIPs	(269)	(380)	400
Net (purchases) proceeds within CIPs	(2,672)	(1,780)	(1,190)
(Earnings) losses from equity method investees	(41)	(378)	(29)
Distributions of earnings from equity method investees	57	49	50
Changes in operating assets and liabilities:
Accounts receivable	(443)	(586)	416
Investments, trading	58	72	196
Other assets	317	(326)	(166)
Accrued compensation and benefits	367	145	(711)
Accounts payable and accrued liabilities	259	(26)	(151)
Other liabilities	(382)	375	(481)
Net cash provided by/(used in) operating activities	4,956	4,165	4,956
Investing activities
Purchases of investments	(818)	(846)	(824)
Proceeds from sales and maturities of investments	766	400	242
Distributions of capital from equity method investees	366	46	70
Net consolidations (deconsolidations) of sponsored investment funds	(127)	(26)	(85)
Acquisitions, net of cash acquired	(2,936)	(189)	—
Purchases of property and equipment	(255)	(344)	(533)
Net cash provided by/(used in) investing activities	(3,004)	(959)	(1,130)
Financing activities
Repayments of long-term borrowings	(1,000)	—	(750)
Proceeds from long-term borrowings	5,474	1,238	—
Cash dividends paid	(3,101)	(3,035)	(2,990)
Proceeds from stock options exercised	464	95	11
Repurchases of common stock	(1,930)	(1,884)	(2,332)
Net proceeds from (repayments of) borrowings by CIPs	(58)	(59)	(26)
Net (redemptions/distributions paid)/subscriptions received from noncontrolling interest holders	2,405	1,627	618
Other financing activities	(18)	26	27
Net cash provided by/(used in) financing activities	2,236	(1,992)	(5,442)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(162)	106	(291)
Net increase/(decrease) in cash, cash equivalents and restricted cash	4,026	1,320	(1,907)
Cash, cash equivalents and restricted cash, beginning of year	8,753	7,433	9,340
Cash, cash equivalents and restricted cash, end of year	$12,779	$8,753	$7,433
Supplemental disclosure of cash flow information:
Cash paid for:
Interest	$289	$200	$177
Income taxes (net of refunds)	$1,699	$1,392	$1,067
Supplemental schedule of noncash investing and financing transactions:
Issuance of common shares related to employee stock transactions	$215	$569	$576
Issuance of common shares in connection with the GIP Transaction	$5,904	$—	$—
Cancellation of treasury stock, common in connection with the GIP Transaction	$(12,829)	$—	$—
Increase/(decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds	$(2,581)	$(949)	$(593)
Established contingent consideration liabilities in connection with acquisitions	$4,246	$—	$—

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