Blackrock, Inc. · NYSE:BLK
Blackrock — Q4 2022 Earnings Presentation
15 slides from Blackrock's earnings presentation, Jan 13, 2023
Slide 1: Q4 2022 Earnings Release Supplement
Q4 2022 Earnings January 13, 2023 Earnings Release Supplement Exhibit 99.2
Slide 2: A broadly diversified business across clients, products and geographies
A broadly diversified business across clients, products and geographies Base fees include investment advisory, administration fees and securities lending revenue. Base Fees and AUM by region data is based on client domicile. 1 Client Type Style Product Type Region Assets Under Management of $8.6 tri
Slide 3: Net flows
Net flows ($ in billions) Total BlackRock Retail Long-term Institutional Long-term 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
Slide 4: Profitability
Profitability ($ in millions, except per share data) For further information and reconciliations to GAAP, see page 13 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 prev
Slide 5: Capital management
Capital management (amounts in millions, except per share data) (1) Amounts above exclude repurchases of employee tax withholdings related to employee stock transactions. Share repurchases and weighted-average diluted shares Share repurchases(1) Weighted-average diluted shares 4 Dividends per share
Slide 6: Major market indices and exchange rates
Major market indices and exchange rates Source: Bloomberg (1) Revenue weighted composite index calculated by BlackRock to approximate the impact of market fluctuations on BlackRock’s equity base fees. The index is derived from publicly available market indices that represent applicable AUM benchmark
Slide 7: Quarterly revenue
Quarterly revenue ($ in millions) $(769) $26 Q4 2022 compared to Q4 2021 Q4 2022 compared to Q3 2022 6
Slide 8: Quarterly investment advisory, administration fees and securities lending revenue
Quarterly investment advisory, administration fees and securities lending revenue ($ in millions) 7
Slide 9: Quarterly expense, as adjusted
Quarterly expense, as adjusted ($ in millions) $(239) $34 Q4 2022 compared to Q4 2021 Q4 2022 compared to Q3 2022 8 Q4 2022 expense, as adjusted, excludes a restructuring charge of $91 million. Q4 2022, Q4 2021 and Q3 2022 expense, as adjusted, exclude expenses related to (i) amortization of intangi
Slide 10: Full year revenue
$(1,501) 2022 compared to 2021 9 Full year revenue ($ in millions) 9
Slide 11: Full year investment advisory, administration fees and securities lending revenue
Full year investment advisory, administration fees and securities lending revenue ($ in millions) 10 10
Slide 12: Full year expense, as adjusted
Full year expense, as adjusted ($ in millions) Amounts exclude product launch costs and commissions incurred in 2022 and 2021, which are presented separately above. 2022 expense, as adjusted, excludes a restructuring charge of $91 million. 2022 and 2021 expense, as adjusted, exclude expenses related
Slide 13: Alternatives client assets
Alternatives client assets ($ in billions, as of December 31, 2022) 12 Definitions: Client Assets: Alternatives assets at BlackRock across AUM and non-fee paying committed capital Fee Paying AUM: Assets reported in BlackRock’s AUM. Includes both invested capital and committed capital that is fee-pay
Slide 14: Reconciliation between GAAP and as adjusted
Reconciliation between GAAP and as adjusted ($ in millions) 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
Slide 15: 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