For the year ending 2025-12-31, BLK had -$1,289M decrease in cash & cash equivalents over the period. $3,552M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income | 5,942 | 6,512 |
| Depreciation and amortization | 1,126 | 529 |
| Impairment of intangible assets | 0 | 50 |
| Noncash lease expense | 148 | 129 |
| Stock-based compensation | 1,307 | 753 |
| Deferred income tax expense (benefit) | -631 | -106 |
| Charitable contribution | 109 | - |
| Change in fair value of contingent consideration | -720 | 36 |
| Other investment gains | 289 | 126 |
| Net (gains) losses within cips | 480 | 269 |
| Net (purchases) proceeds within cips | -4,214 | -2,672 |
| (earnings) losses from equity method investees | 51 | 41 |
| Distributions of earnings from equity method investees | 429 | 57 |
| Accounts receivable | 619 | 443 |
| Investments, trading | -193 | -58 |
| Other assets | 722 | -317 |
| Accrued compensation and benefits | 659 | 367 |
| Accounts payable and accrued liabilities | 75 | 259 |
| Other liabilities | 225 | -382 |
| Net cash provided by/(used in) operating activities | 3,927 | 4,956 |
| Purchases of investments | 1,384 | 818 |
| Proceeds from sales and maturities of investments | 544 | 766 |
| Distributions of capital from equity method investees | 390 | 366 |
| Net consolidations (deconsolidations) of sponsored investment funds | 97 | 127 |
| Acquisitions, net of cash acquired | 3,496 | 2,936 |
| Purchases of property and equipment | 375 | 255 |
| Net cash provided by/(used in) investing activities | -4,418 | -3,004 |
| Repayments of long-term borrowings | 796 | 1,000 |
| Proceeds from long-term borrowings | 1,080 | 5,474 |
| Cash dividends paid | - | 3,101 |
| Dividends/subco distributions paid | 3,347 | - |
| Proceeds from stock options exercised | 167 | 464 |
| Repurchases of common stock | - | 1,930 |
| Shares/subco units repurchased | 1,951 | - |
| Net proceeds from (repayments of) borrowings by cips | -112 | -58 |
| Net subscriptions received/(redemptions/distributions paid) from noncontrolling interest holders | 3,827 | 2,405 |
| Other financing activities | 5 | -18 |
| Net cash provided by/(used in) financing activities | -1,127 | 2,236 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 329 | -162 |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | -1,289 | 4,026 |
| Cash, cash equivalents and restricted cash, beginning of year | 12,779 | 8,753 |
| Cash, cash equivalents and restricted cash, end of year | 11,490 | 12,779 |
BlackRock, Inc. (BLK)
BlackRock, Inc. (BLK)