Slide 1: Q3 2021 Earnings
October 13, 2021 Q3 2021 Earnings Earnings Release Supplement
Slide 2: A broadly diversified business across clients, products and geographies
A broadly diversified business across clients, products and geographies Assets Under Management of $9.5 trillion at September 30, 2021 Q3 2021 Base Fees and Securities Lending Revenue of $3.943 billion Client Type Style Product Type Region Active Institutional 26% 27% Active Equity Institutional 49%
Slide 3: Net flows
Net flows ($ in billions) Total BlackRock Retail Long-term 5% 7% 6% 5% 6% 5% 8% 7% 6% 0% 3% 2% 4% 6% 10% 18% 16% 16% 3% 5% 4% 5% 7% 7% 14% 13% 13% Long-term Cash Advisory $172 $35 $37 $129 $129 $127 $3 $39 $2 $100 $9 $75 $23 $30 $28 $81 $21 $84 $14 $20 $16 $32 $1 $35 $24 $133 $23 $99 $98 $116 $98 $8
Slide 4: Profitability
Profitability ($ in millions, except per share data) Operating Income and Margin, as adjusted Net Income and EPS, as adjusted $1,940 $10.95 46.0% 47.0% 46.6% $10.18 $10.03 $2,200 43.5% 43.7% 44.4% 44.9% 45.8% $1,820 $2,100 41.7% 44.2% $9.22 $2,000 $1,931 $1,946 $1,700 $1,690 $7.77 $8.34 $1,900 $1,84
Slide 5: Capital management
Capital management (amounts in millions, except per share data) Share repurchases and Dividends per share weighted-average diluted shares 156.4 156.9 156.4 154.7 $4.13 $4.13 $4.13 153.7 154.5 154.3 154.4 154.3 $3.63 $3.63 $3.63 $3.63 $3.30 $3.30 (1) $1,113 $400 $300 $300 $300 $100 $0 $0 $0 Q3 Q4 Q1
Slide 6: Major market indices and exchange rates
Major market indices and exchange rates % Change % Change Spot 9/30/21 vs. Average Q3 2021 vs. 9/30/2020 6/30/2021 9/30/2021 6/30/2021 9/30/2020 Q3 2020 Q2 2021 Q3 2021 Q2 2021 Q3 2020 Equity Indices Domestic S&P 500 3,363 4,298 4,308 0% 28% 3,319 4,181 4,422 6% 33% Global MSCI Barra World Index 2,3
Slide 7: Quarterly revenue
Quarterly revenue ($ in millions) Percentage Change Year-over-Year Sequential 75% Base fees Base fees 23% 5% Securities lending revenue Securities lending revenue (1)% 9% Performance fees Performance fees (35)% 1% Technology services revenue Technology services revenue 13% 1% 1% 8% Distribution fees
Slide 8: Quarterly investment advisory, administration fees and securities lending revenue
Quarterly investment advisory, administration fees and securities lending revenue ($ in millions) Q3 2021 compared to Q3 2020 Q3 2021 compared to Q2 2021 $718 $186 $8 $7 $(93) $43 $9 $5 $3,943 $61 $12 $10 $3,943 $20 $16 $63 $25 $33 $80 $56 $217 $3,757 Yield-related fee waivers $(126) $332 $3,225 Q3
Slide 9: Quarterly expense, as adjusted
Quarterly expense, as adjusted ($ in millions) Employee comp. & benefits Percentage Change Year-over-Year Sequential 19% Employee comp & benefits 8% (1)% Distribution & servicing costs Distribution & servicing costs 28% 12% 11% Direct fund expense Direct fund expense 38% 11% 50% General and administ
Slide 10: Reconciliation between GAAP and as adjusted
Reconciliation between GAAP and as adjusted ($ in millions) 2019 2020 2021 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Operating Income GAAP $ 1,502 $ 1,538 $ 684 $ 1,406 $ 1,757 $ 1,848 $ 1,545 $ 1,931 $ 1,935 Non-GAAP expense adjustments - - 589 - - - - - 11 As Adjusted $ 1,502 $ 1,538 $ 1,273 $ 1,406 $ 1,757 $ 1,
Slide 11: Important Notes
Important Notes This presentation, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRock’s future financial or business performance, strategies or expectations. Forward-lookin