Attached files
| file | filename |
|---|---|
| EX-32.1 - EX-32.1 - BlackRock Inc. | blk-ex321_8.htm |
| EX-31.2 - EX-31.2 - BlackRock Inc. | blk-ex312_9.htm |
| EX-31.1 - EX-31.1 - BlackRock Inc. | blk-ex311_10.htm |
| 10-Q - 10-Q - BlackRock Inc. | blk-10q_20150930.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
|
|
|
Nine Months Ended September 30, |
|
|
Year ended December 31, |
|
||||||||||||||||||
|
(in millions) |
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
2010 |
|
||||||
|
Income before income taxes |
|
$ |
3,454 |
|
|
$ |
4,395 |
|
|
$ |
3,973 |
|
|
$ |
3,470 |
|
|
$ |
3,135 |
|
|
$ |
3,021 |
|
|
Less: Net income (loss) attributable to noncontrolling interests(1) |
|
|
(1 |
) |
|
|
(30 |
) |
|
|
19 |
|
|
|
(18 |
) |
|
|
2 |
|
|
|
(13 |
) |
|
Pre-tax income attributable to BlackRock, Inc. |
|
|
3,455 |
|
|
|
4,425 |
|
|
|
3,954 |
|
|
|
3,488 |
|
|
|
3,133 |
|
|
|
3,034 |
|
|
Add: Fixed charges |
|
|
197 |
|
|
|
254 |
|
|
|
258 |
|
|
|
261 |
|
|
|
236 |
|
|
|
209 |
|
|
Distributions of earnings from equity method investees |
|
|
32 |
|
|
|
57 |
|
|
|
80 |
|
|
|
42 |
|
|
|
30 |
|
|
|
14 |
|
|
Less: (Losses) earnings from equity method investees |
|
|
59 |
|
|
|
158 |
|
|
|
158 |
|
|
|
175 |
|
|
|
23 |
|
|
|
141 |
|
|
Pre-tax income before fixed charges |
|
$ |
3,625 |
|
|
$ |
4,578 |
|
|
$ |
4,134 |
|
|
$ |
3,616 |
|
|
$ |
3,376 |
|
|
$ |
3,116 |
|
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
$ |
153 |
|
|
$ |
232 |
|
|
$ |
211 |
|
|
$ |
215 |
|
|
$ |
176 |
|
|
$ |
150 |
|
|
Interest expense on uncertain tax positions(2) |
|
|
10 |
|
|
|
(22 |
) |
|
|
3 |
|
|
|
3 |
|
|
|
10 |
|
|
|
8 |
|
|
Portion of rent representative of interest(3) |
|
|
34 |
|
|
|
44 |
|
|
|
44 |
|
|
|
43 |
|
|
|
50 |
|
|
|
51 |
|
|
Total fixed charges |
|
$ |
197 |
|
|
$ |
254 |
|
|
$ |
258 |
|
|
$ |
261 |
|
|
$ |
236 |
|
|
$ |
209 |
|
|
Ratio of earnings to fixed charges |
|
18.4x |
|
|
18.0x |
|
|
16.0x |
|
|
13.9x |
|
|
14.3x |
|
|
14.9x |
|
||||||
|
|
(1) |
Amount includes redeemable and nonredeemable noncontrolling interests. |
|
|
(2) |
Interest expense on uncertain tax positions has been recorded within income tax expense on the consolidated statements of income. |
|
|
(3) |
The portion of rent representative of interest is calculated as one third of the total rent expense. |