Slide 1: Q4 2020 Earnings Release Supplement
January 14, 2021 Q4 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 $8.68 trillion at December 31, 2020 Q4 2020 Total Base Fees of $3.393 billion Client Type Style Product Type Region Active Institutional 26% 32% Equity Active Equity 48% Institutional 51% 48% Americas
Slide 3: Net flows
Net flows ($ in billions) Total BlackRock Retail Long-term 2% 2% 4% 5% 7% 6% 5% 6% 5% 3% 0% 0% 0% 3% 2% 4% 6% 10% 2% 1% 2% 3% 5% 4% 5% 7% 7% Long-term Cash Advisory $35 $151 $129 $129 $127 $26 $2 $100 $3 $28 $20 $65 $30 $9 $50 $84 $14 $16 $6 $35 $24 $6 $125 $32 $116 $8 $99 $98 $7 $44 $59 $52 $53 $62
Slide 4: Profitability
Profitability ($ in millions, except per share data) Operating Income and Margin, as adjusted Net Income and EPS, as adjusted $1,940 46.0% 47.0% $1,820 $2,100 46.6% $10.18 43.5% 43.5% 43.7% 41.9% 43.1% 41.7% $1,700 44.2% $2,000 $9.22 $1,900 $1,848 $1,573 $1,757 $1,580 $1,800 $8.34 $7.85 34.2% $1,700
Slide 5: Capital management
Capital management (amounts in millions, except per share data) Share repurchases and weighted average diluted shares Dividends per share 160.5 159.3 156.4 156.4 156.9 156.4 154.7 $3.63 $3.63 $3.63 $3.63 153.7 154.5 $3.30 $3.30 $3.30 $3.30 $3.13 (1) $1,566 (2) $1,113 $525 $400 $100 $0 $0 $0 $0 Q4 Q1
Slide 6: Major market indices and exchange rates
Major market indices and exchange rates % Change % Change Spot 12/31/20 vs. Average Q4 2020 vs. 12/31/2019 9/30/2020 12/31/2020 9/30/2020 12/31/2019 Q4 2019 Q3 2020 Q4 2020 Q3 2020 Q4 2019 Equity Indices Domestic S&P 500 3,231 3,363 3,756 12% 16% 3,086 3,319 3,558 7% 15% Global MSCI Barra World Inde
Slide 7: Quarterly revenue
Quarterly revenue ($ in millions) 73% Percentage Change Year-over-Year Sequential Base fees ex. securities lending Base fees ex. securities lending 12% 6% Securities lending Securities lending (22)% (14)% Performance fees Performance fees 75% (21)% Technology services revenue Technology services rev
Slide 8: Quarterly investment advisory, administration fees and securities lending revenue
Quarterly investment advisory, administration fees and securities lending revenue ($ in millions) Q4 2020 compared to Q4 2019 Q4 2020 compared to Q3 2020 $304 $168 $23 $15 $(3) $(13) $3,393 $16 $5 $(4) $(5) $(7) $3,393 $26 $22 $42 $29 $44 $44 $68 $72 $3,225 $98 $3,089 Q4 2019 Active Alts iShares iSh
Slide 9: Quarterly expense, as adjusted
Quarterly expense, as adjusted ($ in millions) Employee comp. & benefits Percentage Change Year-over-Year Sequential 19% 11% (5)% Employee comp. & benefits Distribution & servicing costs Distribution & servicing costs 15% 11% 11% Direct fund expense Direct fund expense 16% 10% 51% General & administ
Slide 10: Full year revenue
Full year revenue ($ in millions) Percentage Change Year-over-Year 74% Base fees ex. securities lending Base fees ex. securities lending 7% Securities lending Securities lending 6% Performance fees Performance fees 145% Technology services revenue Technology services revenue 17% 1% 7% Distribution f
Slide 11: Full year investment advisory, administration fees and securities lending revenue
Full year investment advisory, administration fees and securities lending revenue ($ in millions) 2020 compared to 2019 $862 $39 $15 $4 $(3) $12,639 $58 $156 $172 $183 $238 $11,777 2019 Alts Active Cash iShares ETFs Non-ETF Active Multi-Asset iShares ETFs Non-ETF 2020 EQ FI FI FI EQ EQ 10 10
Slide 12: Full year expense, as adjusted
Full year expense, as adjusted ($ in millions) Percentage Change Year-over-Year Employee comp. & benefits 18% Employee comp. & benefits 13% Distribution & servicing costs 9% Distribution & servicing costs 11% 9% Direct fund expense Direct fund expense 51% General & administration 7% General & admini
Slide 13: Reconciliation between GAAP and as adjusted
Reconciliation between GAAP and as adjusted ($ in millions) 2018 2019 2020 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Operating Income GAAP $ 1,246 $ 1,233 $ 1,278 $ 1,502 $ 1,538 $ 684 $ 1,406 $ 1,757 $ 1,848 Non-GAAP expense adjustments 64 - - - - 589 - - - As Adjusted $ 1,310 $ 1,233 $ 1,278 $ 1,502 $ 1,538 $ 1,
Slide 14: 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