Slide 1: Q1 2020 Earnings Release Supplement
April 16, 2020 Q1 2020 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 $6.47 trillion at March 31, 2020 Q1 2020 Total Base Fees of $3.055 billion Client Type Style Product Type Region Active Institutional 27% 33% Active Equity Equity Institutional 47% 45% 46% 61% Americas
Slide 3: Net flows
Net flows ($ in billions) Total BlackRock Retail Long-term 7% 5% 3% 2% 2% 4% 5% 7% 6% 7% 7% 6% 3% 0% 0% 0% 3% 2% 7% 5% 3% 2% 1% 2% 3% 5% 4% Long-term Cash Advisory $151 $129 $26 $17 $84 $30 $57 $65 $8 $50 $125 $32 $35 $7 $2 $6 $99 $1 $5 $20 $6 $2 $55 $1 $59 $52 $53 $2 $6 $44 $14 $11 ($19) $(1) ($15)
Slide 4: Profitability
Profitability ($ in millions, except per share data) Operating Income and Margin, as adjusted Net Income and EPS, as adjusted $8.34 $1,700 46.0% $1,800 44.1% 45.2% 44.2% 43.5% $7.52 41.9% 43.1% 43.5% 41.7% $1,580 44.2% $1,700 $7.15 $6.70 $6.66 $6.61 $6.41 $6.60 $1,600 $1,460 $6.08 $1,538 $1,500 $1,5
Slide 5: Capital management
Capital management (amounts in millions, except per share data) Share repurchases and weighted average diluted shares Dividends per share $3.63 162.9 162.2 161.4 160.5 159.3 $3.30 $3.30 $3.30 $3.30 156.4 156.4 156.9 156.4 $3.13 $3.13 $1,566 (1) $2.88 $2.88 $500 $525 $400 $335 $300 $100 $0 $0 Q1 Q2 Q
Slide 6: Major market indices and exchange rates
Major market indices and exchange rates % Change % Change Spot 3/31/20 vs. Average Q1 2020 vs. 3/31/2019 12/31/2019 3/31/2020 12/31/2019 3/31/2019 Q1 2019 Q4 2019 Q1 2020 Q4 2019 Q1 2019 Equity Indices Domestic S&P 500 2,834 3,231 2,585 (20)% (9)% 2,718 3,086 3,068 (1)% 13% Global MSCI Barra World I
Slide 7: Quarterly revenue
Quarterly revenue ($ in millions) Percentage Change Year-over-Year Sequential 79% Base fees ex. securities lending Base fees ex. securities lending 9% (1)% Securities lending Securities lending 7% (7)% Performance fees Performance fees 58% (83)% Technology services revenue Technology services revenu
Slide 8: Quarterly investment advisory, administration fees and securities lending revenue
Quarterly investment advisory, administration fees and securities lending revenue ($ in millions) Q1 2020 compared to Q1 2019 Q1 2020 compared to Q4 2019 $250 $(34) $12 $7 $1 $(3) $(5) $3,089 $(9) $(10) $(27) $15 $(1) $3,055 $3,055 $23 $17 $24 $32 $37 $39 $64 $2,805 Q1 2019 Alts iShares Cash iShares
Slide 9: Quarterly expense, as adjusted
Quarterly expense, as adjusted ($ in millions) Employee comp. & benefits Percentage Change Year-over-Year Sequential 18% Employee comp. & benefits 7% (6)% 11% Distribution & servicing costs Distribution & servicing costs 10% 2% Direct fund expense Direct fund expense 14% 13% General & administration
Slide 10: Q1 2020 Charitable Contribution Financial Impact
Q1 2020 Charitable Contribution Financial Impact ($ in millions) Non-GAAP GAAP adjustments As adjusted General and administration expense $ 589 $ 589 $ - Operating Income (589) (589) - Nonoperating Income: Net gain 122 122 - Income before income taxes (467) (467) - Income tax benefit 241 241 - Net I
Slide 11: Reconciliation between GAAP and as adjusted
Reconciliation between GAAP and as adjusted ($ in millions) 2018 2019 2020 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Operating Income GAAP $ 1,375 $ 1,440 $ 1,396 $ 1,246 $ 1,233 $ 1,278 $ 1,502 $ 1,538 $ 684 Non-GAAP expense adjustments 3 3 4 64 - - - - 589 As Adjusted $ 1,378 $ 1,443 $ 1,400 $ 1,310 $ 1,233 $ 1,
Slide 12: 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