Attached files

file filename
8-K - FORM 8-K - BlackRock Inc.form_8k.htm
EX-4.1 - EXHIBIT 4.1 - BlackRock Inc.exh_4-1.htm
EX-4.2 - EXHIBIT 4.2 - BlackRock Inc.exh_4-2.htm
 
EXHIBIT 12.2
 
 
RATIO OF EARNINGS TO FIXED CHARGES
(unaudited)
(Dollar amounts in millions)

     
Pro Forma
   
As Reported
 
     
Three Months
         
Three Months
 
     
Ended
   
Year Ended
   
Ended
 
     
March 31,
   
Dec 31,
   
March 31,
 
     
2012
   
2011
   
2012
 
                     
 
Income before income taxes
  $ 829     $ 3,098     $ 838  
 
Less:
Net income (loss) attributable to non-controlling interests(1)
    3       2       3  
                           
 
Pre-tax income attributable to BlackRock, Inc.
    826       3,096       835  
 
Add:
Fixed charges
    72       273       63  
   
Distributions of earnings from equity method investees
    8       30       8  
 
Less:
(Losses) earnings from equity method   investees
    45       23       45  
 
Pre-tax income before fixed charges
  $ 861     $ 3,376     $ 861  
                           
 
Fixed charges:
                       
   
Interest expense
  $ 58     $ 213     $ 49  
   
Interest expense on uncertain tax positions(2)
    3       10       3  
   
Portion of rent representative of interest
    11       50       11  
 
Total fixed charges
  $ 72     $ 273     $ 63  
                           
 
Ratio of earnings to fixed charges
    12.0 x     12.4 x     13.7 x
 
______
                       
(1)
Amount includes redeemable and nonredeemable non-controlling interests.
(2)
Interest expense on uncertain tax positions, in accordance with ASC 740-10, Income Taxes, has been recorded within income tax expense on the condensed consolidated statements of income.