BLACKROCK, INC. April 13, 2022
Q1 2022 Earnings
Earnings Release Supplement
A broadly diversified business across clients, products and geographies
Assets Under Management of $9.57 trillion at March 31, 2022 Q1 2022 Base Fees and Securities Lending Revenue of $3.833 billion
AUM
Base Fees
AUM
Base Fees
AUM
Base Fees
Note: Base fees include investment advisory, administration fees and securities lending revenue. Base Fees and AUM by region data is based on client domicile.
AUM
Base Fees
Net flows
($ in billions)
Total BlackRock
Retail Long-term
6% 4%
5% 5%
6% 7%
5% 7%
8% 14%
7% 13%
6% 13%
6% 11%
5% 8%
2%
4%
6%
10%
18%
16%
16%
12%
8%
$37
$35
$(2)
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
ETFs
Institutional Long-term
Q4 2021
Q1 2022
9%
9%
9%
8%
13%
12%
12%
11%
10%
2%
0%
0%
0%
2%
1%
0%
1%
2%
Institutional Index
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
LTM organic asset growth rate (%)
Institutional Active
Q3 2021
Q4 2021
Q1 2022
Q1 2020
Q2 2020
Q3 2020
LTM organic base fee growth rate (%)
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Note: LTM organic asset growth rate measures rolling last twelve months net flows over beginning of period assets. LTM organic base fee growth rate is calculated by dividing net new base fees earned on net asset inflows for the LTM period by the base fee run-rate at the beginning of the period.
Q1 2022
Profitability
($ in millions, except per share data)
Operating Income and Margin, as adjusted
Net Income and EPS, as adjusted
$2,700
$2,600
$2,500
$2,400
$2,300
$2,200
$2,100
$2,000
$1,900
$1,800
$1,700
$1,600
$1,500
$1,400
$1,300
$1,200
$1,100
$1,000
$900
$800
$700
$600
$500
$400
$300
$200
$100
$0
45.0% $2,107 $1,680
48.0% 47.3%
46.9% 47.6% 46.6%
45.8%
44.4% 43.6%
$2,040 $510,.902%0 $1,800
$11.34
44.2%
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q1
2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Operating Income, as adjusted
Operating Margin, as adjusted
Net Income, as adjusted
EPS, as adjusted
For further information and reconciliations to GAAP, see page 10 of this earnings release supplement, notes (1 ) and (2) to the condensed consolidated statements of income and supplemental information in the current earnings release as well as previously filed Form 10-Ks, 10-Qs and 8-Ks. 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. Such measures have been recast for 2021 and 2020 to reflect the inclusion of such new adjustments.
Capital management
(amounts in millions, except per share data)
Share repurchases and weighted-average diluted shares
156.4
(1)
$1,113
Dividends per share
$4.88
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Share repurchases
Weighted-average diluted shares
Dividends
(1)Amount includes a $1.1 billion repurchase from PNC that closed on May 15, 2020.
Amounts above exclude repurchases of employee tax withholdings related to employee stock transactions.
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Disclaimer
BlackRock Inc. published this content on 13 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2022 10:24:07 UTC.
