Attached files

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EX-32.1 - SECTION 906 CERTIFICATON OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER - BlackRock Inc.blk-ex321_7.htm
EX-31.2 - SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER - BlackRock Inc.blk-ex312_9.htm
EX-31.1 - SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - BlackRock Inc.blk-ex311_8.htm
EX-10.1 - LEASE, BY AND BETWEEN BLACKROCK, INC. AND 50 HYMC OWNER LLC - BlackRock Inc.blk-ex101_1436.htm
10-Q - 10-Q - BlackRock Inc.blk-10q_20170630.htm

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

(UNAUDITED)

 

 

Six Months

Ended

June 30,

 

 

Year ended December 31,

 

(in millions)

 

2017

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

 

2012

 

Income before income taxes

 

$

2,383

 

 

$

4,460

 

 

$

4,602

 

 

$

4,395

 

 

$

3,973

 

 

$

3,470

 

Less: Net income (loss) attributable to noncontrolling interests(1)

 

 

19

 

 

 

(2

)

 

 

7

 

 

 

(30

)

 

 

19

 

 

 

(18

)

Pre-tax income attributable to BlackRock, Inc.

 

 

2,364

 

 

 

4,462

 

 

 

4,595

 

 

 

4,425

 

 

 

3,954

 

 

 

3,488

 

Add: Fixed charges

 

 

127

 

 

 

253

 

 

 

261

 

 

 

254

 

 

 

258

 

 

 

261

 

Distributions of earnings from equity method investees

 

 

13

 

 

 

31

 

 

 

41

 

 

 

57

 

 

 

80

 

 

 

42

 

Less: (Losses) earnings from equity method investees

 

 

60

 

 

 

113

 

 

 

91

 

 

 

158

 

 

 

158

 

 

 

175

 

Pre-tax income before fixed charges

 

$

2,444

 

 

$

4,633

 

 

$

4,806

 

 

$

4,578

 

 

$

4,134

 

 

$

3,616

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

99

 

 

$

205

 

 

$

204

 

 

$

232

 

 

$

211

 

 

$

215

 

Interest expense on uncertain tax positions(2)

 

 

6

 

 

 

3

 

 

 

12

 

 

 

(22

)

 

 

3

 

 

 

3

 

Portion of rent representative of interest(3)

 

 

22

 

 

 

45

 

 

 

45

 

 

 

44

 

 

 

44

 

 

 

43

 

Total fixed charges

 

$

127

 

 

$

253

 

 

$

261

 

 

$

254

 

 

$

258

 

 

$

261

 

Ratio of earnings to fixed charges

 

19.2x

 

 

18.3x

 

 

18.4x

 

 

18.0x

 

 

16.0x

 

 

13.9x

 

 

 

(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.