Slide 1: Q3 2022 Earnings
October 13, 2022 Q3 2022 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 $7.96 trillion at September 30, 2022 Q3 2022 Base Fees and Securities Lending Revenue of $3.53 billion Client Type Style Product Type Region Active Institutional 27% 32% Active 46% Equity Equity Instit
Slide 3: Net flows
Net flows ($ in billions) Total BlackRock Retail Long-term 6% 5% 8% 7% 6% 6% 5% 5% 4% 6% 10% 18% 16% 16% 12% 8% 4% 2% 7% 7% 14% 13% 13% 11% 8% 5% 2% Long-term Cash Advisory $212 $35 $37 $172 $44 $129 $127 $39 $21 $23 $22 $20 $3 $87 $28 $2 $9 $75 $90 $81 $169 $10 $133 $23 $114 $21 $17 $116 $98 $98 $6
Slide 4: Profitability
Profitability ($ in millions, except per share data) Operating Income and Margin, as adjusted Net Income and EPS, as adjusted $2,040 $11.34 $10.45 $10.68 $1,920 $10.32 $2,700 48.0% 50.0% $2,600 47.3% 46.9% 47.6% 46.6% $9.41 $9.52 $9.55 $2,500 45.8% $1,800 $2,400 44.2% 43.7% $8.04 $1,750 $2,300 45.0%
Slide 5: Capital management
Capital management (amounts in millions, except per share data) Share repurchases and Dividends per share weighted-average diluted shares $4.88 $4.88 $4.88 154.5 154.3 154.4 154.3 154.6 $4.13 $4.13 $4.13 $4.13 153.7 153.5 152.5 152.0 $3.63 $3.63 $500 $500 $375 $300 $300 $300 $300 $0 $0 Q3 Q4 Q1 Q2 Q
Slide 6: Major market indices and exchange rates
Major market indices and exchange rates Spot 9/30/22 vs. Average Q3 2022 vs. 9/30/2021 6/30/2022 9/30/2022 6/30/2022 9/30/2021 Q3 2021 Q2 2022 Q3 2022 Q2 2022 Q3 2021 Equity Indices Domestic S&P 500 4,308 3,785 3,586 (5)% (17)% 4,422 4,104 3,977 (3)% (10)% Global MSCI Barra World Index 3,007 2,546 2
Slide 7: Quarterly revenue
Quarterly revenue ($ in millions) Percentage Change Year-over-Year Sequential 77% Base fees Base fees (11)% (5)% Securities lending revenue Securities lending revenue 7% 1% Performance fees Performance fees (76)% (23)% Technology services revenue Technology services revenue 6% 2% 1% 8% Distribution
Slide 8: Quarterly investment advisory, administration fees and securities lending revenue
Quarterly investment advisory, administration fees and securities lending revenue ($ in millions) Q3 2022 compared to Q3 2021 Q3 2022 compared to Q2 2022 $(412) $(157) $124 $6 $(28) $(28) $(30) $(53) $3,943 $(83) $(149) $(171) $3,688 $3 $2 $(7) $(11) $(15) $(17) $(25) $(40) $(47) $3,531 $3,531 Q3 20
Slide 9: Quarterly expense, as adjusted
Quarterly expense, as adjusted ($ in millions) 20% Employee comp. & benefits Percentage Change Year-over-Year Sequential Employee comp. & benefits (12)% (5)% Distribution & servicing costs (8)% (6)% 12% Distribution & servicing costs Direct fund expense (10)% 5% Direct fund expense 48% (100)% -% 20%
Slide 10: Alternatives client assets
Alternatives client assets ($ in billions, as of September 30, 2022) Non-Fee Client Fee Paying Paying Assets AUM Commitments Illiquid alternatives: Alternative solutions $10 $6 $4 Private equity 36 27 9 Opportunistic & credit strategies 32 23 9 Real assets: Real estate 29 28 1 Infrastructure 42 28 1
Slide 11: Reconciliation between GAAP and as adjusted
Reconciliation between GAAP and as adjusted ($ in millions) 2020 2021 2022 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Operating Income GAAP $ 1,757 $ 1,848 $ 1,545 $ 1,931 $ 1,935 $ 2,039 $ 1,764 $ 1,668 $ 1,526 Non-GAAP expense adjustments 36 29 54 85 90 68 58 59 59 As Adjusted $ 1,793 $ 1,877 $ 1,599 $ 2,016 $ 2,
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