BlackRock, Inc.
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 4, 2026
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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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| (in millions) | 2026 | 2025 |
| Operating activities | ||
| Net income | $6,288 | $4,707 |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||
| Depreciation and amortization | 1,151 | 757 |
| Noncash lease expense | 130 | 104 |
| Stock-based compensation | 911 | 886 |
| Deferred income tax expense (benefit) | (229) | (238) |
| Change in fair value of contingent consideration | 26 | 265 |
| Other investment gains | (206) | (360) |
| Net (gains) losses within CIPs | (382) | (419) |
| Net (purchases) proceeds within CIPs | (3,886) | (3,344) |
| (Earnings) losses from equity method investees | (180) | (48) |
| Distributions of earnings from equity method investees | 172 | 155 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (638) | (265) |
| Investments, trading | 251 | 139 |
| Other assets | (1,948) | (2,666) |
| Accrued compensation and benefits | (405) | (391) |
| Accounts payable and accrued liabilities | 230 | (21) |
| Other liabilities | 1,668 | 2,389 |
| Net cash provided by/(used in) operating activities | 2,953 | 1,650 |
| Investing activities | ||
| Purchases of investments | (1,214) | (1,144) |
| Proceeds from sales and maturities of investments | 341 | 467 |
| Distributions of capital from equity method investees | 175 | 297 |
| Net consolidations (deconsolidations) of sponsored investment funds | (68) | (85) |
| Acquisitions, net of cash acquired | (15) | (3,496) |
| Purchases of property and equipment | (316) | (245) |
| Net cash provided by/(used in) investing activities | (1,097) | (4,206) |
| Financing activities | ||
| Repayments of long-term borrowings | — | (796) |
| Proceeds from long-term borrowings | — | 1,080 |
| Dividends/Subco distributions paid | (2,837) | (2,497) |
| Proceeds from stock options exercised | 127 | 153 |
| Shares/Subco Units repurchased | (1,839) | (1,437) |
| Net proceeds from (repayments of) borrowings by CIPs | 403 | (44) |
| Net subscriptions received/(redemptions/distributions paid) from noncontrolling interest holders | 3,802 | 3,000 |
| Other financing activities | (29) | 2 |
| Net cash provided by/(used in) financing activities | (373) | (539) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (74) | 317 |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | 1,409 | (2,778) |
| Cash, cash equivalents and restricted cash, beginning of period | 11,490 | 12,779 |
| Cash, cash equivalents and restricted cash, end of period | $12,899 | $10,001 |
| Supplemental schedule of noncash investing and financing transactions: | ||
| Issuance of common shares related to employee stock transactions | $939 | $119 |
| Increase (decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds | $(2,683) | $(1,639) |
| Issuance of Subco Units/common shares in connection with acquisitions | $— | $8,715 |
| Established contingent consideration liabilities in connection with acquisitions | $— | $3,413 |
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