BlackRock, Inc. (BLK) operating KPIs

BLKNYSESecurity Brokers, Dealers & Flotation CompaniesFiscal year ends December 31

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026Score 12/3078% above fair value

$1147.54−28.70 (-2.44%)

Close on Oct 30, 2026Market cap $372.90BP/E 27.4Yield 1.82%

KPIs

Operating metrics that drive BlackRock's business · fiscal year ends December 31

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Metric	Q3 2026 2026-09-30	Q2 2026 2026-06-30	Q1 2026 2026-03-31	Q4 2025 2025-12-31	Q3 2025 2025-09-30	Q2 2025 2025-06-30	Q1 2025 2025-03-31	Q4 2024 2024-12-31	Q3 2024 2024-09-30	Q2 2024 2024-06-30	Q1 2024 2024-03-31	Q4 2023 2023-12-31

Total BlackRock Assets Under Management — Ending AUM($M)12	15,488,263	15,344,624	13,894,600	14,041,518	13,463,625	12,527,590	11,583,928	11,551,251	11,475,362	10,645,721	10,472,500	10,008,995
Total BlackRock Assets Under Management — Average AUM($M)	15,460,140	14,853,996	14,240,929	13,731,112	12,960,773	11,974,829	11,688,880	11,555,434	11,070,964	10,457,851	10,177,170	9,384,929
Total BlackRock Assets Under Management — Beginning AUM($M)	15,344,624	13,894,600	14,041,518	13,463,625	12,527,590	11,583,928	11,551,251	11,475,362	10,645,721	10,472,500	10,008,995	9,100,825
Total BlackRock Assets Under Management — Net Flows (Inflows / Outflows)($M)	205,466	191,700	129,724	341,711	204,642	67,737	84,171	281,416	221,180	81,565	57,190	95,647
Total BlackRock Assets Under Management — Realizations (Return of Capital)($M)	-6,017	-7,194	-10,123	-11,067	-7,291	-7,046	-7,719
Total BlackRock Assets Under Management — Market Change (Appreciation / Depreciation)($M)	-60,128	1,283,638	-216,451	264,928	642,826	711,448	-135,572	-70,777	464,319	123,027	476,395	711,967
Total BlackRock Assets Under Management — FX Impact($M)	4,318	-18,120	-50,068	-17,679	-25,103	171,523	91,797	-204,625	144,142	-35,445	-70,080	100,556
Total BlackRock Assets Under Management — Acquisitions & Dispositions Impact($M)					120,961			69,875		4,074
Total BlackRock Assets Under Management — Base Fees & Securities Lending (Results Summary)($M)	6,036	5,726	5,438	5,278	5,046	4,454	4,401	4,417	4,030	3,875	3,778	3,605
Total BlackRock Assets Under Management — Share of Total AUM (%)(%)	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Total BlackRock Assets Under Management — Share of Total Base Fees (%)(%)	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Long-Term Assets Under Management — Ending AUM($M)11	14,387,118	14,275,777	12,821,277	12,960,786	12,458,896	11,557,889	10,653,294	10,630,588	10,625,975	9,867,679	9,726,718	9,244,158
Long-Term Assets Under Management — Average AUM($M)	14,365,054	13,779,306	13,168,160	12,694,200	11,976,173	11,019,926	10,767,743	10,671,609	10,258,995	9,695,481	9,422,131	8,650,050
Long-Term Assets Under Management — Beginning AUM($M)	14,275,777	12,821,277	12,960,786	12,458,896	11,557,889	10,653,294	10,630,588	10,625,975	9,867,679	9,726,718	9,244,158	8,377,144
Long-Term Assets Under Management — Net Flows (Inflows / Outflows)($M)	174,814	199,134	135,901	267,798	170,546	45,789	83,353	200,668	160,173	51,366	76,414	62,697
Long-Term Assets Under Management — Realizations (Return of Capital)($M)	-6,017	-7,194	-10,123	-11,067	-7,291	-7,046	-7,719
Long-Term Assets Under Management — Market Change (Appreciation / Depreciation)($M)	-62,326	1,280,500	-218,657	262,682	640,560	708,417	-138,082	-73,298	461,227	120,514	473,915	709,197
Long-Term Assets Under Management — FX Impact($M)	4,870	-17,940	-46,630	-17,523	-23,769	157,435	85,154	-192,632	136,896	-34,993	-67,769	95,120
Long-Term Assets Under Management — Acquisitions & Dispositions Impact($M)					120,961			69,875		4,074
Long-Term Assets Under Management — Base Fees & Securities Lending (Results Summary)($M)	5,682	5,383	5,098	4,948	4,728	4,150	4,108	4,124	3,766	3,628	3,533	3,365
Long-Term Assets Under Management — Share of Total AUM (%)(%)	93.0%	93.0%	92.0%	92.0%	93.0%	92.0%	92.0%	92.0%	93.0%	93.0%	93.0%	92.0%
Long-Term Assets Under Management — Share of Total Base Fees (%)(%)	94.0%	94.0%	94.0%	94.0%	94.0%	93.0%	93.0%	93.0%	93.0%	94.0%	93.0%	93.0%
Long-Term Net Flows Highlight ($B)	175.00	199.00	136.00	268.00	171.00	46.00	83.00	201.00	160.00	51.00	76.00	63.00
Cash Management Assets Under Management — Ending AUM($M)11	1,101,145	1,068,847	1,073,323	1,080,732	1,004,729	969,701	930,634	920,663	849,387	778,042	745,782	764,837
Cash Management Assets Under Management — Average AUM($M)	1,095,086	1,074,690	1,072,769	1,036,912	984,600	954,903	921,137	883,825	811,969	762,370	755,039	734,879
Cash Management Assets Under Management — Beginning AUM($M)	1,068,847	1,073,323	1,080,732	1,004,729	969,701	930,634	920,663	849,387	778,042	745,782	764,837	723,681
Cash Management Assets Under Management — Net Flows (Inflows / Outflows)($M)	30,652	-7,434	-6,177	73,913	34,096	21,948	818	80,748	61,007	30,199	-19,224	32,950
Cash Management Assets Under Management — Realizations (Return of Capital)($M)	0	0	0	0	0	0	0
Cash Management Assets Under Management — Market Change (Appreciation / Depreciation)($M)	2,198	3,138	2,206	2,246	2,266	3,031	2,510	2,521	3,092	2,513	2,480	2,770
Cash Management Assets Under Management — FX Impact($M)	-552	-180	-3,438	-156	-1,334	14,088	6,643	-11,993	7,246	-452	-2,311	5,436
Cash Management Assets Under Management — Acquisitions & Dispositions Impact($M)					0			0		0
Cash Management Assets Under Management — Base Fees & Securities Lending (Results Summary)($M)	354	343	340	330	318	304	293	293	264	247	245	240
Cash Management Assets Under Management — Share of Total AUM (%)(%)	7.0%	7.0%	8.0%	8.0%	7.0%	8.0%	8.0%	8.0%	7.0%	7.0%	7.0%	8.0%
Cash Management Assets Under Management — Share of Total Base Fees (%)(%)	6.0%	6.0%	6.0%	6.0%	6.0%	7.0%	7.0%	7.0%	7.0%	6.0%	7.0%	7.0%
Cash Management Net Flows Highlight ($B)	31.00	-7.00	-6.00	74.00	34.00	22.00	1.00	81.00	61.00	30.00	-19.00	33.00
LTM Organic Asset Growth Rate — Total Long-Term (%)(%)3	6.0%	7.0%	6.0%	6.0%	6.0%	6.0%	6.0%	6.0%	5.0%	3.0%	3.0%	3.0%
LTM Organic Asset Growth Rate — ETFs / iShares (%)(%)	12.0%	14.0%	13.0%	12.0%	12.0%	11.0%	11.0%	11.0%	11.0%	8.0%	8.0%	6.0%
LTM Organic Asset Growth Rate — Retail (%)(%)	12.0%	11.0%	11.0%	10.0%	3.0%	3.0%	3.0%	3.0%	1.0%	0.0%	0.0%	-1.0%
LTM Organic Asset Growth Rate — Institutional (%)(%)	0.0%	0.0%	-1.0%	-1.0%	0.0%	1.0%	1.0%	2.0%	0.0%	-2.0%	-1.0%	1.0%
LTM Organic Base Fee Growth Rate (%)(%)	10.0%	10.0%	10.0%	9.0%	8.0%	7.0%	6.0%	4.0%	3.0%	1.0%	1.0%	1.0%
Americas Client Region — Ending AUM3
Americas — Long-Term Net Flows Highlight ($B)	125.00	152.00	123.00	190.00	110.00	69.00	51.00	116.00	111.00	31.00	58.00	54.00
Americas — Share of Total AUM (%)(%)	68.0%	68.0%	68.0%	68.0%	68.0%	68.0%	67.0%	68.0%	67.0%	67.0%		67.0%
Americas — Share of Total Base Fees (%)(%)	66.0%	66.0%	66.0%	66.0%	67.0%	66.0%	68.0%	67.0%	65.0%	65.0%	64.0%
EMEA Client Region — Ending AUM3
EMEA — Long-Term Net Flows Highlight ($B)	31.00	55.00	13.00	86.00	64.00	29.00	36.00	74.00	20.00	36.00	19.00	8.00
EMEA — Share of Total AUM (%)(%)	25.0%	26.0%	25.0%	25.0%	25.0%	25.0%	25.0%	24.0%	25.0%	25.0%		25.0%
EMEA — Share of Total Base Fees (%)(%)	28.0%	28.0%	28.0%	28.0%	28.0%	28.0%	27.0%	28.0%	29.0%	30.0%	30.0%
APAC Client Region — Ending AUM3
APAC — Long-Term Net Flows Highlight ($B)	19.00	-8.00	0.00	-8.00	-3.00	-52.00	-4.00	11.00	29.00	-16.00	-1.00	1.00
APAC — Share of Total AUM (%)(%)	7.0%	6.0%	7.0%	7.0%	7.0%	7.0%	8.0%	8.0%	8.0%	8.0%		8.0%
APAC — Share of Total Base Fees (%)(%)	6.0%	6.0%	6.0%	6.0%	5.0%	6.0%	5.0%	5.0%	6.0%	5.0%	6.0%

Retail Client Segment — Ending AUM($M)18	1,406,186	1,396,257	1,262,374	1,278,732	1,173,568	1,100,997	1,022,880	1,015,827	1,041,201	992,152	973,985	929,697
Retail Client Segment — Average AUM($M)	1,403,135	1,349,563	1,294,359	1,206,618	1,135,343	1,054,765	1,032,157	1,030,066	1,016,708	975,529	946,829	884,243
Retail Client Segment — Beginning AUM($M)	1,396,257	1,262,374	1,278,732	1,173,568	1,100,997	1,022,880	1,015,221	1,041,201	992,152	973,985	929,697	868,440
Retail Client Segment — Net Flows (Inflows / Outflows)($M)	23,295	18,862	15,233	81,759	9,724	1,957	13,118	4,650	6,863	5,695	7,161	-8,959
Retail Client Segment — Realizations (Return of Capital)($M)	-432	-245	-480	-600	-166	-476	-179
Retail Client Segment — Market Change (Appreciation / Depreciation)($M)	-11,726	114,702	-26,894	23,626	52,178	60,739	-12,518	-14,950	33,979	11,592	39,605	62,724
Retail Client Segment — FX Impact($M)	-1,208	564	-4,217	379	-839	15,897	7,238	-15,074	8,207	-3,194	-2,478	7,492
Retail Client Segment — Acquisitions & Dispositions Impact($M)					11,674			0		4,074
Retail Client Segment — Base Fees & Securities Lending (Results Summary)($M)	1,396	1,323	1,263	1,243	1,177	1,053	1,061	1,105	1,085	1,053	1,041	993
Retail Client Segment — Share of Total AUM (%)(%)	9.0%	9.0%	9.0%	9.0%	9.0%	9.0%	9.0%	9.0%	9.0%	9.0%	9.0%	9.0%
Retail Client Segment — Share of Total Base Fees (%)(%)	23.0%	23.0%	23.0%	24.0%	23.0%	24.0%	24.0%	25.0%	27.0%	27.0%	28.0%	28.0%
Retail Net Flows — U.S. ($B Highlight)	17.00	13.00	14.00	51.00	4.00	-1.00	8.00	3.00	7.00	2.00	7.00	-6.00
Retail Net Flows — International ($B Highlight)	6.00	6.00	1.00	31.00	6.00	3.00	6.00	2.00	0.00	4.00	0.00	-3.00
Retail — Equity — Ending AUM($M)7	732,164	713,748	615,043	629,081	597,262	557,833	502,678	505,118	521,270	490,427	471,438	435,734
Retail — Fixed Income — Ending AUM($M)7	386,510	398,069	382,823	384,887	344,651	333,624	323,508	318,641	324,245	313,632	315,004	312,799
Retail — Multi-Asset — Ending AUM($M)7	210,683	211,740	195,980	199,655	168,883	162,852	153,420	150,978	154,078	147,719	146,182	139,537
Retail — Private Markets (2024–2026) — Ending AUM($M)7	30,249	30,788	31,190	30,681	29,770	16,823	16,017	15,749	16,216	15,848	16,285
Retail — Liquid Alternatives (2024–2026) — Ending AUM($M)7	46,580	41,912	37,338	34,428	33,002	29,865	27,257	24,735	24,738	23,870	24,405
Retail — Alternatives Combined (Pre-2025 Taxonomy) — Ending AUM($M)6								41,090	41,608	40,374	41,361	41,627
ETFs (iShares) Client Segment — Ending AUM($M)20	6,358,457	6,246,070	5,485,544	5,467,710	5,193,314	4,748,768	4,302,761	4,230,375	4,188,335	3,855,774	3,745,642	3,499,299
ETFs (iShares) Client Segment — Average AUM($M)	6,312,152	5,974,141	5,611,565	5,332,953	4,935,004	4,484,401	4,318,910	4,221,116	4,031,352	3,751,711	3,593,846	3,246,120
ETFs (iShares) Client Segment — Beginning AUM($M)	6,246,070	5,485,544	5,467,710	5,193,314	4,748,768	4,302,761	4,230,375	4,188,335	3,855,774	3,745,642	3,499,299	3,118,409
ETFs (iShares) Client Segment — Net Flows (Inflows / Outflows)($M)	134,509	177,934	131,692	181,484	152,956	84,860	107,410	142,641	97,409	83,141	67,240	87,721
ETFs (iShares) Client Segment — Realizations (Return of Capital)($M)	0	0	0	0	0	0	0
ETFs (iShares) Client Segment — Market Change (Appreciation / Depreciation)($M)	-20,043	588,660	-103,753	92,642	294,235	326,941	-48,620	-67,391	217,054	31,969	190,162	277,836
ETFs (iShares) Client Segment — FX Impact($M)	-2,079	-6,068	-10,105	270	-2,645	34,206	13,596	-33,210	18,098	-4,978	-11,059	15,333
ETFs (iShares) Client Segment — Acquisitions & Dispositions Impact($M)					0			0		0
ETFs (iShares) Client Segment — Base Fees & Securities Lending (Results Summary)($M)	2,762	2,595	2,406	2,279	2,130	1,875	1,793	1,815	1,726	1,635	1,567	1,458
ETFs (iShares) Client Segment — Share of Total AUM (%)(%)	41.0%	41.0%	39.0%	39.0%	39.0%	38.0%	37.0%	37.0%	37.0%	37.0%	36.0%	35.0%
ETFs (iShares) Client Segment — Share of Total Base Fees (%)(%)	46.0%	45.0%	44.0%	43.0%	42.0%	42.0%	41.0%	41.0%	42.0%	43.0%	41.0%	40.0%
ETFs Net Flows — Core Equity ($B Highlight)	3.00	85.00	32.00	70.00	53.00	0.00	46.00	75.00	32.00	32.00	37.00	32.00
ETFs Net Flows — Precision / Non-Core ($B Highlight)	41.00	15.00	39.00	49.00	21.00	18.00	14.00	32.00	20.00	14.00	16.00	28.00
ETFs Net Flows — Strategic ($B Highlight)							35.00	18.00	45.00	37.00	14.00	28.00
ETFs Net Flows — Digital Assets / ETPs ($B Highlight)	8.00	-3.00	1.00	1.00	17.00	14.00	3.00
ETFs — Equity — Ending AUM($M)7	4,769,980	4,722,557	4,001,533	4,006,014	3,788,431	3,455,117	3,111,438	3,106,398	3,061,840	2,830,268	2,752,776	2,532,631
ETFs — Fixed Income — Ending AUM($M)7	1,327,214	1,308,627	1,239,025	1,205,953	1,157,582	1,101,224	1,039,115	985,652	1,019,176	931,217	904,755	898,403
ETFs — Multi-Asset — Ending AUM($M)7	24,700	21,767	15,086	14,402	13,111	11,926	10,603	10,734	10,036	9,204	9,043	9,140
ETFs — Digital Assets (IBIT / ETHA ETPs, 2024–2026) — Ending AUM($M)7	79,632	48,839	60,671	78,435	103,965	79,551	50,329	55,306	24,238	18,531	17,521
ETFs — Commodities (Precious Metals / Commodity ETPs, 2024–2026) — Ending AUM($M)7	156,931	144,280	169,229	162,906	130,225	100,950	91,276	72,285	73,045	66,554	61,547
ETFs — Alternatives / Commodity ETPs (Pre-2025 Taxonomy) — Ending AUM($M)6								127,591	97,283	85,085	79,068	59,125
Total Institutional Client Segment (Active + Index) — Ending AUM($M)12	6,622,475	6,633,450	6,073,359	6,214,344	6,092,014	5,708,124	5,327,653	5,384,386	5,396,439	5,019,753	5,007,091	4,815,162
Total Institutional Client Segment (Active + Index) — Average AUM($M)	6,649,767	6,455,602	6,262,236	6,154,629	5,905,826	5,480,760	5,416,676	5,420,427	5,210,935	4,968,241	4,881,456	4,519,687
Total Institutional Client Segment (Active + Index) — Beginning AUM($M)	6,633,450	6,073,359	6,214,344	6,092,014	5,708,124	5,327,653	5,384,992	5,396,439	5,019,753	5,007,091	4,815,162	4,390,295
Total Institutional Client Segment (Active + Index) — Net Flows (Inflows / Outflows)($M)	17,010	2,338	-11,024	4,555	7,866	-41,028	-37,175	53,377	55,901	-37,470	2,013	-16,065
Total Institutional Client Segment (Active + Index) — Realizations (Return of Capital)($M)	-5,585	-6,949	-9,643	-10,467	-7,125	-6,570	-7,540
Total Institutional Client Segment (Active + Index) — Market Change (Appreciation / Depreciation)($M)	-30,557	577,138	-88,010	146,414	294,147	320,737	-76,944	9,043	210,194	76,953	244,148	368,637
Total Institutional Client Segment (Active + Index) — FX Impact($M)	8,157	-12,436	-32,308	-18,172	-20,285	107,332	64,320	-144,348	110,591	-26,821	-54,232	72,295
Total Institutional Client Segment (Active + Index) — Acquisitions & Dispositions Impact($M)					109,287			69,875		0
Total Institutional Client Segment (Active + Index) — Base Fees & Securities Lending (Results Summary)($M)	1,524	1,465	1,429	1,426	1,421	1,222	1,254	1,204	955	940	925	914
Total Institutional Client Segment (Active + Index) — Share of Total AUM (%)(%)	43.0%	43.0%	44.0%	44.0%	45.0%	45.0%	46.0%	46.0%	47.0%	47.0%	48.0%	48.0%
Total Institutional Client Segment (Active + Index) — Share of Total Base Fees (%)(%)	25.0%	26.0%	27.0%	27.0%	29.0%	27.0%	28.0%	27.0%	24.0%	24.0%	24.0%	25.0%
Institutional Active Client Segment — Ending AUM($M)16	2,689,184	2,687,174	2,509,266	2,518,170	2,475,614	2,277,877	2,155,178	2,136,749	2,110,944	1,968,232	1,961,376	1,912,673
Institutional Active Client Segment — Average AUM($M)	2,694,283	2,617,296	2,549,237	2,491,583	2,397,117	2,209,083	2,158,131	2,140,334	2,038,951	1,955,554	1,924,565	1,803,565
Institutional Active Client Segment — Beginning AUM($M)	2,687,174	2,509,266	2,518,170	2,475,614	2,277,877	2,155,178	2,135,095	2,110,944	1,968,232	1,961,376	1,912,673	1,753,262
Institutional Active Client Segment — Net Flows (Inflows / Outflows)($M)	44,454	43,792	23,713	16,125	22,267	6,727	8,372	25,126	26,695	-2,059	14,686	7,511
Institutional Active Client Segment — Realizations (Return of Capital)($M)	-5,585	-6,949	-9,643	-10,467	-7,125	-6,570	-7,540
Institutional Active Client Segment — Market Change (Appreciation / Depreciation)($M)	-36,509	143,637	-12,259	38,106	79,553	82,727	1,671	-23,519	88,133	13,288	46,273	131,407
Institutional Active Client Segment — FX Impact($M)	-350	-2,572	-10,715	-1,208	-6,245	39,815	17,580	-45,677	27,884	-4,373	-12,256	20,493
Institutional Active Client Segment — Acquisitions & Dispositions Impact($M)					109,287			69,875		0
Institutional Active Client Segment — Base Fees & Securities Lending (Results Summary)($M)	1,231	1,176	1,174	1,167	1,149	981	1,016	962	720	710	697	691
Institutional Active Client Segment — Share of Total AUM (%)(%)	18.0%	17.0%	18.0%	18.0%	18.0%	18.0%	19.0%	18.0%	18.0%	18.0%	19.0%	19.0%
Institutional Active Client Segment — Share of Total Base Fees (%)(%)	20.0%	21.0%	22.0%	22.0%	23.0%	22.0%	23.0%	22.0%	18.0%	18.0%	18.0%	19.0%
Institutional Active — Equity — Ending AUM($M)7	302,956	288,729	248,689	247,993	242,002	242,098	217,390	218,848	225,361	208,177	203,042	186,688
Institutional Active — Fixed Income — Ending AUM($M)7	897,059	912,078	892,131	905,566	901,576	881,932	853,873	840,328	873,385	823,716	836,798	836,823
Institutional Active — Multi-Asset — Ending AUM($M)7	1,099,722	1,109,672	1,007,904	1,006,106	976,474	898,621	835,479	828,039	833,975	761,194	748,017	717,182
Institutional Active — Private Markets (2024–2026) — Ending AUM($M)7	305,745	298,295	289,241	291,943	291,116	198,421	196,337	196,225	125,193	122,020	120,969
Institutional Active — Liquid Alternatives (2024–2026) — Ending AUM($M)7	83,702	78,400	71,301	66,562	64,446	56,805	52,099	51,655	51,252	51,613	50,960
Institutional Active — Alternatives Combined (Pre-2025 Taxonomy) — Ending AUM($M)6								249,534	178,223	175,145	173,519	171,980
Institutional Index (Non-ETF) Client Segment — Ending AUM($M)14	3,933,291	3,946,276	3,564,093	3,696,174	3,616,400	3,430,247	3,172,475	3,247,637	3,285,495	3,051,521	3,045,715	2,902,489
Institutional Index (Non-ETF) Client Segment — Average AUM($M)	3,955,484	3,838,306	3,712,999	3,663,046	3,508,709	3,271,677	3,258,545	3,280,093	3,171,984	3,012,687	2,956,891	2,716,122
Institutional Index (Non-ETF) Client Segment — Beginning AUM($M)	3,946,276	3,564,093	3,696,174	3,616,400	3,430,247	3,172,475	3,249,897	3,285,495	3,051,521	3,045,715	2,902,489	2,637,033
Institutional Index (Non-ETF) Client Segment — Net Flows (Inflows / Outflows)($M)	-27,444	-41,454	-34,737	-11,570	-14,401	-47,755	-45,547	28,251	29,206	-35,411	-12,673	-23,576
Institutional Index (Non-ETF) Client Segment — Realizations (Return of Capital)($M)	0	0	0	0	0	0	0
Institutional Index (Non-ETF) Client Segment — Market Change (Appreciation / Depreciation)($M)	5,952	433,501	-75,751	108,308	214,594	238,010	-78,615	32,562	122,061	63,665	197,875	237,230
Institutional Index (Non-ETF) Client Segment — FX Impact($M)	8,507	-9,864	-21,593	-16,964	-14,040	67,517	46,740	-98,671	82,707	-22,448	-41,976	51,802
Institutional Index (Non-ETF) Client Segment — Acquisitions & Dispositions Impact($M)					0			0		0
Institutional Index (Non-ETF) Client Segment — Base Fees & Securities Lending (Results Summary)($M)	293	289	255	259	272	241	238	242	235	230	228	223
Institutional Index (Non-ETF) Client Segment — Share of Total AUM (%)(%)	25.0%	26.0%	26.0%	26.0%	27.0%	27.0%	27.0%	28.0%	29.0%	29.0%	29.0%	29.0%
Institutional Index (Non-ETF) Client Segment — Share of Total Base Fees (%)(%)	5.0%	5.0%	5.0%	5.0%	6.0%	5.0%	5.0%	5.0%	6.0%	6.0%	6.0%	6.0%
Institutional Index — Equity — Ending AUM($M)6								2,479,827	2,472,528	2,298,263	2,290,596	2,138,291
Institutional Index — Fixed Income — Ending AUM($M)6								761,048	806,888	747,319	749,188	756,001
Institutional Index — Multi-Asset — Ending AUM($M)6								3,170	3,426	3,295	3,355	4,945
Institutional Index — Alternatives / Currency & Commodities — Ending AUM($M)6								3,592	2,653	2,644	2,576	3,252

Investment Style: Active Management Total — Ending AUM($M)16	3,671,914	3,665,405	3,410,923	3,432,743	3,294,619	3,051,873	2,889,141	2,870,656	2,871,791	2,703,506	2,691,933	2,621,178
Investment Style: Active Management Total — Average AUM($M)	3,675,474	3,569,085	3,473,490	3,339,558	3,193,144	2,957,226	2,901,074	2,888,297	2,786,015	2,684,181	2,640,532	2,483,584
Investment Style: Active Management Total — Beginning AUM($M)	3,665,405	3,410,923	3,432,743	3,294,619	3,051,873	2,889,141	2,868,402	2,871,791	2,703,506	2,691,933	2,621,178	2,426,322
Investment Style: Active Management Total — Net Flows (Inflows / Outflows)($M)	66,405	53,313	29,620	97,731	26,640	1,413	10,308	22,830	28,045	-3,606	14,897	-5,762
Investment Style: Active Management Total — Realizations (Return of Capital)($M)	-6,017	-7,194	-10,123	-11,067	-7,291	-7,046	-7,719
Investment Style: Active Management Total — Market Change (Appreciation / Depreciation)($M)	-52,335	210,407	-28,383	52,217	108,233	119,139	-3,583	-39,431	109,117	18,646	69,567	175,627
Investment Style: Active Management Total — FX Impact($M)	-1,544	-2,044	-12,934	-757	-5,797	49,226	21,733	-54,409	31,123	-7,541	-13,709	24,991
Investment Style: Active Management Total — Acquisitions & Dispositions Impact($M)					120,961			69,875		4,074
Investment Style: Active Management Total — Base Fees & Securities Lending (Results Summary)($M)	2,521	2,403	2,350	2,321	2,245	1,962	2,008	1,991	1,739	1,706	1,681	1,631
Investment Style: Active Management Total — Share of Total AUM (%)(%)	24.0%	24.0%	25.0%	24.0%	24.0%	24.0%	25.0%	25.0%	25.0%	25.0%	26.0%	26.0%
Investment Style: Active Management Total — Share of Total Base Fees (%)(%)	42.0%	42.0%	43.0%	44.0%	44.0%	44.0%	46.0%	45.0%	43.0%	44.0%	44.0%	45.0%
Active Style — Equity — Ending AUM($M)7	644,722	619,239	535,995	546,028	517,176	504,554	458,656	467,163	492,193	466,518	455,665	427,448
Active Style — Fixed Income — Ending AUM($M)7	1,250,531	1,275,378	1,241,991	1,257,358	1,213,771	1,183,948	1,149,891	1,133,874	1,171,739	1,112,578	1,127,206	1,123,422
Active Style — Multi-Asset — Ending AUM($M)7	1,310,385	1,321,393	1,203,867	1,205,743	1,145,338	1,061,457	988,884	979,001	988,035	908,897	894,186	856,705
Active Style — Private Markets (2024–2026) — Ending AUM($M)7	335,994	329,083	320,431	322,624	320,886	215,244	212,354	211,974	141,409	137,868	137,254
Active Style — Liquid Alternatives (2024–2026) — Ending AUM($M)7	130,282	120,312	108,639	100,990	97,448	86,670	79,356	76,390	75,990	75,483	75,365
Active Style — Alternatives Combined (Pre-2025 Taxonomy) — Ending AUM($M)6								290,618	219,824	215,513	214,876	213,603
Investment Style: ETFs (iShares) Total — Ending AUM($M)16	6,358,457	6,246,070	5,485,544	5,467,710	5,193,314	4,748,768	4,302,761	4,230,375	4,188,335	3,855,774	3,745,642	3,499,299
Investment Style: ETFs (iShares) Total — Average AUM($M)	6,312,152	5,974,141	5,611,565	5,332,953	4,935,004	4,484,401	4,318,910	4,221,116	4,031,352	3,751,711	3,593,846	3,246,120
Investment Style: ETFs (iShares) Total — Beginning AUM($M)	6,246,070	5,485,544	5,467,710	5,193,314	4,748,768	4,302,761	4,230,375	4,188,335	3,855,774	3,745,642	3,499,299	3,118,409
Investment Style: ETFs (iShares) Total — Net Flows (Inflows / Outflows)($M)	134,509	177,934	131,692	181,484	152,956	84,860	107,410	142,641	97,409	83,141	67,240	87,721
Investment Style: ETFs (iShares) Total — Realizations (Return of Capital)($M)	0	0	0	0	0	0	0
Investment Style: ETFs (iShares) Total — Market Change (Appreciation / Depreciation)($M)	-20,043	588,660	-103,753	92,642	294,235	326,941	-48,620	-67,391	217,054	31,969	190,162	277,836
Investment Style: ETFs (iShares) Total — FX Impact($M)	-2,079	-6,068	-10,105	270	-2,645	34,206	13,596	-33,210	18,098	-4,978	-11,059	15,333
Investment Style: ETFs (iShares) Total — Acquisitions & Dispositions Impact($M)					0			0		0
Investment Style: ETFs (iShares) Total — Base Fees & Securities Lending (Results Summary)($M)	2,762	2,595	2,406	2,279	2,130	1,875	1,793
Investment Style: ETFs (iShares) Total — Share of Total AUM (%)(%)	41.0%	41.0%	39.0%	39.0%	39.0%	38.0%	37.0%
Investment Style: ETFs (iShares) Total — Share of Total Base Fees (%)(%)	46.0%	45.0%	44.0%	43.0%	42.0%	42.0%	41.0%
ETFs Style — Equity — Ending AUM($M)7	4,769,980	4,722,557	4,001,533	4,006,014	3,788,431	3,455,117	3,111,438	3,106,398	3,061,840	2,830,268	2,752,776	2,532,631
ETFs Style — Fixed Income — Ending AUM($M)7	1,327,214	1,308,627	1,239,025	1,205,953	1,157,582	1,101,224	1,039,115	985,652	1,019,176	931,217	904,755	898,403
ETFs Style — Multi-Asset — Ending AUM($M)7	24,700	21,767	15,086	14,402	13,111	11,926	10,603	10,734	10,036	9,204	9,043	9,140
ETFs Style — Digital Assets — Ending AUM($M)7	79,632	48,839	60,671	78,435	103,965	79,551	50,329	55,306	24,238	18,531	17,521
ETFs Style — Commodities — Ending AUM($M)7	156,931	144,280	169,229	162,906	130,225	100,950	91,276	72,285	73,045	66,554	61,547
ETFs Style — Alternatives (Pre-2025 Taxonomy) — Ending AUM($M)6								127,591	97,283	85,085	79,068	59,125
Investment Style: Non-ETF Index Total — Ending AUM($M)14	4,356,747	4,364,302	3,924,810	4,060,333	3,970,963	3,757,248	3,461,392	3,531,811	3,568,274	3,310,561	3,291,400	3,123,681
Investment Style: Non-ETF Index Total — Average AUM($M)	4,377,428	4,236,080	4,083,105	4,021,689	3,848,025	3,578,299	3,547,759	3,562,196	3,441,628	3,259,589	3,187,753	2,920,346
Investment Style: Non-ETF Index Total — Beginning AUM($M)	4,364,302	3,924,810	4,060,333	3,970,963	3,757,248	3,461,392	3,531,811	3,565,849	3,308,399	3,289,143	3,123,681	2,832,413
Investment Style: Non-ETF Index Total — Net Flows (Inflows / Outflows)($M)	-26,100	-32,113	-25,411	-11,417	-9,050	-40,484	-34,365	35,197	34,719	-28,169	-5,723	-19,262
Investment Style: Non-ETF Index Total — Realizations (Return of Capital)($M)	0	0	0	0	0	0	0
Investment Style: Non-ETF Index Total — Market Change (Appreciation / Depreciation)($M)	10,052	481,433	-86,521	117,823	238,092	262,337	-85,879	33,524	135,056	69,899	214,186	255,734
Investment Style: Non-ETF Index Total — FX Impact($M)	8,493	-9,828	-23,591	-17,036	-15,327	74,003	49,825	-105,013	87,675	-22,474	-43,001	54,796
Investment Style: Non-ETF Index Total — Acquisitions & Dispositions Impact($M)					0			0		0
Investment Style: Non-ETF Index Total — Base Fees & Securities Lending (Results Summary)($M)	399	385	342	348	353	313	307
Investment Style: Non-ETF Index Total — Share of Total AUM (%)(%)	28.0%	28.0%	28.0%	29.0%	30.0%	30.0%	30.0%
Investment Style: Non-ETF Index Total — Share of Total Base Fees (%)(%)	6.0%	7.0%	7.0%	7.0%	8.0%	7.0%	6.0%
Non-ETF Index Style — Equity — Ending AUM($M)6								2,736,630	2,726,966	2,530,349	2,509,411	2,333,265
Non-ETF Index Style — Fixed Income — Ending AUM($M)6								786,143	832,779	772,089	773,784	782,201
Non-ETF Index Style — Multi-Asset — Ending AUM($M)6								3,186	3,444	3,311	3,368	4,959
Non-ETF Index Style — Alternatives — Ending AUM($M)6								3,598	2,660	2,650	2,580	3,256
Investment Style: Combined Index & ETFs Subtotal (Pre-2025 Presentation) — Ending AUM($M)9								7,759,932	7,754,184	7,164,173	7,034,785	6,622,980
Product Type: Equity Total — Ending AUM($M)10	8,983,974	8,888,234	7,661,385	7,793,875	7,459,075	6,905,438	6,204,549	6,310,191	6,280,999	5,827,135	5,717,852	5,293,344
Product Type: Equity Total — Average AUM($M)	8,949,952	8,467,690	7,930,545	7,629,717	7,135,969	6,497,393	6,365,290	6,320,868	6,062,374	5,694,327	5,464,128	4,909,420
Product Type: Equity Total — Beginning AUM($M)	8,888,234	7,661,385	7,793,875	7,459,075	6,905,438	6,204,549	6,310,191	6,280,999	5,827,135	5,717,852	5,293,344	4,741,291
Product Type: Equity Total — Net Flows (Inflows / Outflows)($M)	52,446	71,597	71,842	126,053	45,978	28,781	19,311	126,566	74,144	6,438	18,421	34,086
Product Type: Equity Total — Realizations (Return of Capital)($M)	0	0	0	0	0	0	0
Product Type: Equity Total — Market Change (Appreciation / Depreciation)($M)	40,087	1,167,280	-179,623	218,485	519,260	594,781	-169,248	-1,458	311,068	114,737	440,966	471,839
Product Type: Equity Total — FX Impact($M)	3,207	-12,028	-24,709	-9,738	-11,601	77,327	44,295	-95,916	68,652	-15,966	-34,879	46,128
Product Type: Equity Total — Acquisitions & Dispositions Impact($M)					0			0		4,074
Product Type: Equity Total — Base Fees & Securities Lending (Results Summary)($M)	3,079	2,891	2,626	2,530	2,408	2,123	2,075	2,142	2,060	1,979	1,893	1,769
Product Type: Equity Total — Share of Total AUM (%)(%)	57.0%	58.0%	55.0%	55.0%	55.0%	54.0%	53.0%	55.0%	55.0%	55.0%	54.0%	52.0%
Product Type: Equity Total — Share of Total Base Fees (%)(%)	51.0%	50.0%	48.0%	48.0%	48.0%	48.0%	47.0%	48.0%	51.0%	51.0%	50.0%	49.0%
Product Type: Fixed Income Total — Ending AUM($M)10	3,353,313	3,390,161	3,270,863	3,272,021	3,178,965	3,087,297	3,006,670	2,905,669	3,023,694	2,815,884	2,805,745	2,804,026
Product Type: Fixed Income Total — Average AUM($M)	3,381,746	3,339,692	3,303,591	3,216,982	3,122,878	3,024,167	2,964,967	2,959,195	2,928,303	2,796,581	2,793,284	2,655,114
Product Type: Fixed Income Total — Beginning AUM($M)	3,390,161	3,270,863	3,272,021	3,178,965	3,087,297	3,006,670	2,905,669	3,023,694	2,815,884	2,805,745	2,804,026	2,576,205
Product Type: Fixed Income Total — Net Flows (Inflows / Outflows)($M)	78,213	92,096	34,314	83,771	47,554	-4,664	37,738	23,784	62,740	35,409	41,736	32,180
Product Type: Fixed Income Total — Realizations (Return of Capital)($M)	-632	-915	-957	-225	-1,265	-543	-718
Product Type: Fixed Income Total — Market Change (Appreciation / Depreciation)($M)	-117,408	32,155	-19,649	17,997	40,100	30,932	33,120	-72,426	91,004	-7,771	-13,798	158,584
Product Type: Fixed Income Total — FX Impact($M)	2,979	-4,038	-14,866	-8,487	-8,288	54,902	30,861	-69,383	54,066	-17,499	-26,219	37,057
Product Type: Fixed Income Total — Acquisitions & Dispositions Impact($M)					13,567			0		0
Product Type: Fixed Income Total — Base Fees & Securities Lending (Results Summary)($M)	1,116	1,081	1,058	1,037	998	945	935	950	940	895	903	864
Product Type: Fixed Income Total — Share of Total AUM (%)(%)	22.0%	22.0%	24.0%	23.0%	24.0%	25.0%	26.0%	25.0%	26.0%	26.0%	27.0%	28.0%
Product Type: Fixed Income Total — Share of Total Base Fees (%)(%)	18.0%	19.0%	19.0%	20.0%	20.0%	21.0%	21.0%	22.0%	23.0%	23.0%	24.0%	24.0%
Product Type: Multi-Asset Total — Ending AUM($M)10	1,338,519	1,347,299	1,222,612	1,223,625	1,161,957	1,076,709	1,002,681	992,921	1,001,515	921,412	906,597	870,804
Product Type: Multi-Asset Total — Average AUM($M)	1,348,091	1,299,289	1,247,632	1,185,944	1,119,948	1,033,261	1,007,167	1,001,342	957,308	904,572	881,360	812,502
Product Type: Multi-Asset Total — Beginning AUM($M)	1,347,299	1,222,612	1,223,625	1,161,957	1,076,709	1,002,681	992,921	1,001,515	921,412	906,597	870,804	788,872
Product Type: Multi-Asset Total — Net Flows (Inflows / Outflows)($M)	5,051	16,784	17,827	36,868	33,598	-6,743	8,546	24,307	17,814	4,460	5,097	-1,051
Product Type: Multi-Asset Total — Realizations (Return of Capital)($M)	0	0	0	0	0	0	0
Product Type: Multi-Asset Total — Market Change (Appreciation / Depreciation)($M)	-12,622	109,665	-12,714	24,104	55,276	60,155	-6,771	-10,204	50,681	11,651	36,135	73,418
Product Type: Multi-Asset Total — FX Impact($M)	-1,209	-1,762	-6,126	696	-3,626	20,616	7,985	-22,697	11,608	-1,296	-5,439	9,565
Product Type: Multi-Asset Total — Acquisitions & Dispositions Impact($M)					0			0		0
Product Type: Multi-Asset Total — Base Fees & Securities Lending (Results Summary)($M)	429	402	381	373	353	319	321	326	325	313	314	299
Product Type: Multi-Asset Total — Share of Total AUM (%)(%)	9.0%	9.0%	9.0%	9.0%	9.0%	8.0%	9.0%	8.0%	9.0%	9.0%	9.0%	9.0%
Product Type: Multi-Asset Total — Share of Total Base Fees (%)(%)	7.0%	7.0%	7.0%	7.0%	6.0%	7.0%	7.0%	7.0%	8.0%	8.0%	8.0%	8.0%
Product Type: Alternatives Subtotal — Ending AUM($M)12	466,276	449,395	429,070	423,614	418,334	301,914	291,710	421,807	319,767	303,248	296,524	275,984
Product Type: Alternatives Subtotal — Average AUM($M)	459,324	439,382	428,303	419,242	385,283	297,557	288,447	390,204	311,010	300,001	283,359	273,014
Product Type: Alternatives Subtotal — Beginning AUM($M)	449,395	429,070	423,614	418,334	301,914	291,710	288,364	319,767	303,248	296,524	275,984	270,776
Product Type: Alternatives Subtotal — Net Flows (Inflows / Outflows)($M)	24,236	22,027	14,627	15,570	16,341	9,767	9,300	26,011	5,475	5,059	11,160	-2,518
Product Type: Alternatives Subtotal — Realizations (Return of Capital)($M)	-5,385	-6,279	-9,166	-10,842	-6,026	-6,503	-7,001
Product Type: Alternatives Subtotal — Market Change (Appreciation / Depreciation)($M)	-1,852	4,593	718	470	-1,127	2,701	-814	10,790	8,474	1,897	10,612	5,356
Product Type: Alternatives Subtotal — FX Impact($M)	-118	-16	-723	82	-162	4,239	1,861	-4,636	2,570	-232	-1,232	2,370
Product Type: Alternatives Subtotal — Acquisitions & Dispositions Impact($M)					107,394			69,875		0
Product Type: Alternatives Subtotal — Base Fees & Securities Lending (Results Summary)($M)	908	851	855	847	831	656	685	706	441	441	423	433
Product Type: Alternatives Subtotal — Share of Total AUM (%)(%)	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	3.0%	4.0%	3.0%	3.0%	3.0%	3.0%
Product Type: Alternatives Subtotal — Share of Total Base Fees (%)(%)	15.0%	15.0%	16.0%	16.0%	17.0%	15.0%	16.0%	16.0%	11.0%	12.0%	11.0%	12.0%
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — Ending AUM($M)12	335,994	329,083	320,431	322,624	320,886	215,244	212,354	211,974	141,409	137,868	137,254	136,909
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — Average AUM($M)	333,849	324,696	322,399	320,397	291,901	214,708	210,104	193,493	139,173	137,285	136,617	133,889
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — Beginning AUM($M)	329,083	320,431	322,624	320,886	215,244	212,354	211,974	141,409	137,868	137,254	136,909	131,937
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — Net Flows (Inflows / Outflows)($M)	15,311	15,432	9,076	12,708	13,163	6,819	7,144	4,730	1,527	1,987	1,214	3,561
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — Realizations (Return of Capital)($M)	-5,363	-6,209	-8,471	-10,706	-5,996	-6,474	-7,001
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — Market Change (Appreciation / Depreciation)($M)	-2,876	-469	-1,989	-317	-2,364	-1,068	-1,412	-746	226	-1,151	-132	-205
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — FX Impact($M)	-161	-102	-809	53	-178	3,613	1,649	-3,294	1,788	-222	-737	1,616
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — Acquisitions & Dispositions Impact($M)					101,017			69,875		0
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — Base Fees & Securities Lending (Results Summary)($M)	668	639	658	663	653	499	535	480	235	241	240	251
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — Share of Total AUM (%)(%)	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	1.0%	1.0%	1.0%	1.0%
Alternatives Product — Private Markets / Illiquid Alternatives (Unified 2018–2026) — Share of Total Base Fees (%)(%)	11.0%	11.0%	12.0%	13.0%	13.0%	11.0%	12.0%	11.0%	6.0%	6.0%	6.0%	7.0%
Private Markets Product (Post-GIP/HPS Taxonomy, 2023Q4–2026Q3) — Ending AUM($M)7	335,994	329,083	320,431	322,624	320,886	215,244	212,354	211,974	141,409	137,868	137,254	136,909
Illiquid Alternatives Product (Pre-2025 Taxonomy, 2018Q1–2024Q3) — Ending AUM($M)6									141,409	137,868	137,254	136,909
Alternatives Product — Liquid Alternatives — Ending AUM($M)10	130,282	120,312	108,639	100,990	97,448	86,670	79,356	76,390	75,990	75,483	75,365	74,233
Alternatives Product — Liquid Alternatives — Average AUM($M)	125,475	114,686	105,904	98,845	93,382	82,849	78,343	76,211	75,532	75,105	74,923	74,188
Alternatives Product — Liquid Alternatives — Beginning AUM($M)	120,312	108,639	100,990	97,448	86,670	79,356	76,390	75,990	75,483	75,365	74,233	75,139
Alternatives Product — Liquid Alternatives — Net Flows (Inflows / Outflows)($M)	8,925	6,595	5,551	2,862	3,178	2,948	2,156	1,165	-851	-1,009	-1,914	-3,289
Alternatives Product — Liquid Alternatives — Realizations (Return of Capital)($M)	-22	-70	-695	-136	-30	-29	0
Alternatives Product — Liquid Alternatives — Market Change (Appreciation / Depreciation)($M)	1,024	5,062	2,707	787	1,237	3,769	598	240	821	1,046	3,375	1,805
Alternatives Product — Liquid Alternatives — FX Impact($M)	43	86	86	29	16	626	212	-1,005	537	81	-329	578
Alternatives Product — Liquid Alternatives — Acquisitions & Dispositions Impact($M)					6,377			0		0
Alternatives Product — Liquid Alternatives — Base Fees & Securities Lending (Results Summary)($M)	240	212	197	184	178	157	150	146	143	141	138	138
Alternatives Product — Liquid Alternatives — Share of Total AUM (%)(%)	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%
Alternatives Product — Liquid Alternatives — Share of Total Base Fees (%)(%)	4.0%	4.0%	4.0%	3.0%	4.0%	4.0%	4.0%	3.0%	3.0%	4.0%	4.0%	4.0%
Product Type: Digital Assets (2024–2026) — Ending AUM($M)10	79,632	48,839	60,671	78,435	103,965	79,551	50,329	55,306	24,238	18,531	17,521
Product Type: Digital Assets (2024–2026) — Average AUM($M)	63,598	61,479	67,740	92,317	94,980	65,710	55,082
Product Type: Digital Assets (2024–2026) — Beginning AUM($M)	48,839	60,671	78,435	103,965	79,551	50,329	55,306
Product Type: Digital Assets (2024–2026) — Net Flows (Inflows / Outflows)($M)	7,907	-3,116	935	579	16,691	14,139	3,355
Product Type: Digital Assets (2024–2026) — Realizations (Return of Capital)($M)	0	0	0	0	0	0	0
Product Type: Digital Assets (2024–2026) — Market Change (Appreciation / Depreciation)($M)	22,889	-8,710	-18,694	-26,113	7,728	15,077	-8,332
Product Type: Digital Assets (2024–2026) — FX Impact($M)	-3	-6	-5	4	-5	6	0
Product Type: Digital Assets (2024–2026) — Acquisitions & Dispositions Impact($M)					0
Product Type: Digital Assets (2024–2026) — Base Fees & Securities Lending (Results Summary)($M)	39	40	42	58	61	40	34
Product Type: Digital Assets (2024–2026) — Share of Total AUM (%)(%)	1.0%	0.0%	0.0%	1.0%	1.0%	1.0%	0.0%
Product Type: Digital Assets (2024–2026) — Share of Total Base Fees (%)(%)	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%
Product Type: Currency and Commodities (Unified 2016–2026) — Ending AUM($M)10	165,404	151,849	176,676	169,216	136,600	106,980	97,355	133,443	102,368	89,897	83,905	64,842
Product Type: Currency and Commodities (Unified 2016–2026) — Average AUM($M)	162,343	171,774	190,349	149,998	117,115	101,838	86,790	120,500	96,305	87,611	71,819	64,937
Product Type: Currency and Commodities (Unified 2016–2026) — Beginning AUM($M)	151,849	176,676	169,216	136,600	106,980	97,355	78,137	102,368	89,897	83,905	64,842	63,700
Product Type: Currency and Commodities (Unified 2016–2026) — Net Flows (Inflows / Outflows)($M)	6,961	-254	-3,644	4,957	10,384	4,509	5,103	20,116	4,799	4,081	11,860	-2,790
Product Type: Currency and Commodities (Unified 2016–2026) — Realizations (Return of Capital)($M)	0	0	0	0	0	0	0
Product Type: Currency and Commodities (Unified 2016–2026) — Market Change (Appreciation / Depreciation)($M)	6,580	-24,483	11,305	27,739	19,323	4,771	13,963	11,296	7,427	2,002	7,369	3,756
Product Type: Currency and Commodities (Unified 2016–2026) — FX Impact($M)	14	-90	-201	-80	-87	345	152	-337	245	-91	-166	176
Product Type: Currency and Commodities (Unified 2016–2026) — Acquisitions & Dispositions Impact($M)					0			0		0
Product Type: Currency and Commodities (Unified 2016–2026) — Base Fees & Securities Lending (Results Summary)($M)	111	118	136	103	77	67	58	80	63	59	45	44
Product Type: Currency and Commodities (Unified 2016–2026) — Share of Total AUM (%)(%)	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%
Product Type: Currency and Commodities (Unified 2016–2026) — Share of Total Base Fees (%)(%)	2.0%	2.0%	3.0%	2.0%	2.0%	1.0%	1.0%	2.0%	2.0%	2.0%	1.0%	1.0%
Active Fixed Income — Taxable % of Assets Above Benchmark/Peer Median (1-Year)(%)2	71.0%	85.0%	81.0%	76.0%	80.0%	73.0%	71.0%	69.0%	81.0%	76.0%	72.0%	84.0%
Active Fixed Income — Taxable % Above Benchmark (3-Year)(%)	85.0%	86.0%	86.0%	86.0%	86.0%	84.0%	80.0%	79.0%	79.0%	79.0%	82.0%	78.0%
Active Fixed Income — Taxable % Above Benchmark (5-Year)(%)	84.0%	83.0%	82.0%	82.0%	84.0%	83.0%	87.0%	82.0%	87.0%	85.0%	93.0%	92.0%
Active Fixed Income — Tax-Exempt % of Assets Above Benchmark/Peer Median (1-Year)(%)2	56.0%	78.0%	43.0%	46.0%	47.0%	30.0%	62.0%	69.0%	56.0%	62.0%	67.0%	75.0%
Active Fixed Income — Tax-Exempt % Above Benchmark (3-Year)(%)	58.0%	66.0%	52.0%	53.0%	67.0%	61.0%	55.0%	42.0%	50.0%	65.0%	47.0%	61.0%
Active Fixed Income — Tax-Exempt % Above Benchmark (5-Year)(%)	47.0%	57.0%	55.0%	62.0%	61.0%	64.0%	77.0%	45.0%	52.0%	54.0%	44.0%	45.0%
Index Fixed Income — % of Assets Within/Above Tracking Tolerance (1-Year)(%)2	98.0%	99.0%	98.0%	99.0%	97.0%	96.0%	99.0%	97.0%	98.0%	95.0%	98.0%	98.0%
Index Fixed Income — % Within/Above Tolerance (3-Year)(%)	99.0%	100.0%	99.0%	99.0%	99.0%	99.0%	100.0%	99.0%	100.0%	100.0%	100.0%	97.0%
Index Fixed Income — % Within/Above Tolerance (5-Year)(%)	100.0%	100.0%	100.0%	99.0%	100.0%	100.0%	100.0%	98.0%	100.0%	99.0%	100.0%	97.0%
Active Equity — Fundamental % of Assets Above Benchmark/Peer Median (1-Year)(%)2	73.0%	62.0%	39.0%	40.0%	48.0%	40.0%	29.0%	47.0%	41.0%	56.0%	66.0%	69.0%
Active Equity — Fundamental % Above Benchmark (3-Year)(%)	65.0%	63.0%	51.0%	71.0%	64.0%	75.0%	46.0%	44.0%	44.0%	44.0%	41.0%	47.0%
Active Equity — Fundamental % Above Benchmark (5-Year)(%)	65.0%	63.0%	42.0%	46.0%	50.0%	54.0%	53.0%	64.0%	66.0%	78.0%	79.0%	87.0%
Active Equity — Systematic % of Assets Above Benchmark/Peer Median (1-Year)(%)2	92.0%	86.0%	73.0%	78.0%	90.0%	47.0%	71.0%	93.0%	93.0%	96.0%	92.0%	87.0%
Active Equity — Systematic % Above Benchmark (3-Year)(%)	93.0%	92.0%	91.0%	95.0%	96.0%	95.0%	92.0%	89.0%	91.0%	89.0%	88.0%	83.0%
Active Equity — Systematic % Above Benchmark (5-Year)(%)	95.0%	93.0%	94.0%	94.0%	94.0%	93.0%	92.0%	93.0%	92.0%	93.0%	90.0%	89.0%
Index Equity — % of Assets Within/Above Tracking Tolerance (1-Year)(%)2	91.0%	93.0%	92.0%	95.0%	93.0%	95.0%	96.0%	94.0%	93.0%	98.0%	97.0%	96.0%
Index Equity — % Within/Above Tolerance (3-Year)(%)	97.0%	95.0%	96.0%	96.0%	98.0%	99.0%	99.0%	99.0%	100.0%	100.0%	99.0%	99.0%
Index Equity — % Within/Above Tolerance (5-Year)(%)	96.0%	99.0%	99.0%	99.0%	99.0%	100.0%	100.0%	100.0%	100.0%	100.0%	99.0%	100.0%
SEC Form 13F-HR Institutional Equity Holdings Market Value ($B)2		6,729.54	5,723.53	5,916.35	5,712.25	5,253.07	4,761.03	4,941.97	4,763.74	4,418.30	4,295.72	3,921.95
Form 13F-HR Information Table Position Entries (Count)		49,968	50,651	50,216	49,030	49,987	50,390	50,853	48,086	48,161	48,325	49,166
Form 13F-HR Included Affiliated Institutional Investment Managers (Count)		30	30	30	30	31	31	31	31	30	30	30

Total Private Markets (Illiquid Alternatives) — Ending AUM($M)12	335,994	329,083	320,431	322,624	320,886	215,244	212,354	211,974	141,409	137,868	137,254
Total Private Markets (Illiquid Alternatives) — Average AUM($M)	333,849	324,696	322,399	320,397	291,901	214,708	210,104
Total Private Markets (Illiquid Alternatives) — Beginning AUM($M)	329,083	320,431	322,624	320,886	215,244	212,354	211,974
Total Private Markets (Illiquid Alternatives) — Net Flows (Inflows / Outflows)($M)	15,311	15,432	9,076	12,708	13,163	6,819	7,144
Total Private Markets (Illiquid Alternatives) — Realizations (Return of Capital)($M)	-5,363	-6,209	-8,471	-10,706	-5,996	-6,474	-7,001
Total Private Markets (Illiquid Alternatives) — Market Change (Appreciation / Depreciation)($M)	-2,876	-469	-1,989	-317	-2,364	-1,068	-1,412
Total Private Markets (Illiquid Alternatives) — FX Impact($M)	-161	-102	-809	53	-178	3,613	1,649
Total Private Markets (Illiquid Alternatives) — Acquisitions & Dispositions Impact($M)					101,017
Private Markets — Infrastructure (Incl. GIP from 4Q24) — Ending AUM($M)7	119,762	113,488	111,867	112,116	110,101	112,323	108,371	109,606	38,871	37,294	37,362
Private Markets — Infrastructure (Incl. GIP from 4Q24) — Average AUM($M)	117,762	112,172	112,127	110,141	111,319	110,365	107,364
Private Markets — Infrastructure (Incl. GIP from 4Q24) — Beginning AUM($M)	113,488	111,867	112,116	110,101	112,323	108,371	109,606
Private Markets — Infrastructure (Incl. GIP from 4Q24) — Net Flows (Inflows / Outflows)($M)	7,583	5,233	1,234	4,986	2,884	3,383	4,505
Private Markets — Infrastructure (Incl. GIP from 4Q24) — Realizations (Return of Capital)($M)	-785	-3,006	-320	-2,998	-2,337	-774	-5,866
Private Markets — Infrastructure (Incl. GIP from 4Q24) — Market Change (Appreciation / Depreciation)($M)	-500	-648	-902	-4	-2,718	43	-470
Private Markets — Infrastructure (Incl. GIP from 4Q24) — FX Impact($M)	-24	42	-261	31	-51	1,300	596
Private Markets — Infrastructure (Incl. GIP from 4Q24) — Acquisitions & Dispositions Impact($M)					0
Private Markets — Private Credit (Incl. HPS from 3Q25) — Ending AUM($M)7	152,273	150,937	147,045	145,385	141,974	35,985	33,686	32,425	32,222	30,877	31,061
Private Markets — Private Credit (Incl. HPS from 3Q25) — Average AUM($M)	151,510	148,997	146,753	143,392	112,505	34,675	32,921
Private Markets — Private Credit (Incl. HPS from 3Q25) — Beginning AUM($M)	150,937	147,045	145,385	141,974	35,985	33,686	32,425
Private Markets — Private Credit (Incl. HPS from 3Q25) — Net Flows (Inflows / Outflows)($M)	5,012	6,004	6,619	7,271	7,851	2,264	1,316
Private Markets — Private Credit (Incl. HPS from 3Q25) — Realizations (Return of Capital)($M)	-2,917	-1,833	-3,906	-3,571	-2,588	-1,096	-461
Private Markets — Private Credit (Incl. HPS from 3Q25) — Market Change (Appreciation / Depreciation)($M)	-669	-184	-711	-285	-276	-30	-134
Private Markets — Private Credit (Incl. HPS from 3Q25) — FX Impact($M)	-90	-95	-342	-4	-15	1,161	540
Private Markets — Private Credit (Incl. HPS from 3Q25) — Acquisitions & Dispositions Impact($M)					101,017
Private Markets — Private Equity — Ending AUM($M)7	30,968	32,261	30,231	30,623	34,033	33,743	36,562	36,327	35,807	36,117	34,649
Private Markets — Private Equity — Average AUM($M)	31,597	31,663	30,434	32,412	33,889	36,173	36,264
Private Markets — Private Equity — Beginning AUM($M)	32,261	30,231	30,623	34,033	33,743	36,562	36,327
Private Markets — Private Equity — Net Flows (Inflows / Outflows)($M)	710	2,677	399	423	583	1,045	924
Private Markets — Private Equity — Realizations (Return of Capital)($M)	-1,045	-769	-579	-3,780	-610	-4,186	-171
Private Markets — Private Equity — Market Change (Appreciation / Depreciation)($M)	-939	147	-162	-55	313	103	-621
Private Markets — Private Equity — FX Impact($M)	-19	-25	-50	2	4	219	103
Private Markets — Private Equity — Acquisitions & Dispositions Impact($M)					0
Private Markets — Real Estate — Ending AUM($M)7	22,648	21,953	21,654	25,062	25,525	25,276	26,076	26,147	27,033	26,147	26,767
Private Markets — Real Estate — Average AUM($M)	22,585	21,943	23,570	25,099	25,326	25,701	26,037
Private Markets — Real Estate — Beginning AUM($M)	21,953	21,654	25,062	25,525	25,276	26,076	26,147
Private Markets — Real Estate — Net Flows (Inflows / Outflows)($M)	1,924	237	455	-189	341	-65	37
Private Markets — Real Estate — Realizations (Return of Capital)($M)	-436	-133	-3,494	-255	-275	-366	-285
Private Markets — Real Estate — Market Change (Appreciation / Depreciation)($M)	-772	221	-262	-44	272	-1,171	-169
Private Markets — Real Estate — FX Impact($M)	-21	-26	-107	25	-89	802	346
Private Markets — Real Estate — Acquisitions & Dispositions Impact($M)					0
Private Markets — Multi-Alternatives — Ending AUM($M)7	10,343	10,444	9,634	9,438	9,253	7,917	7,659	7,469	7,476	7,433	7,415
Private Markets — Multi-Alternatives — Average AUM($M)	10,395	9,921	9,515	9,353	8,862	7,794	7,518
Private Markets — Multi-Alternatives — Beginning AUM($M)	10,444	9,634	9,438	9,253	7,917	7,659	7,469
Private Markets — Multi-Alternatives — Net Flows (Inflows / Outflows)($M)	82	1,281	369	217	1,504	192	362
Private Markets — Multi-Alternatives — Realizations (Return of Capital)($M)	-180	-468	-172	-102	-186	-52	-218
Private Markets — Multi-Alternatives — Market Change (Appreciation / Depreciation)($M)	4	-5	48	71	45	-13	-18
Private Markets — Multi-Alternatives — FX Impact($M)	-7	2	-49	-1	-27	131	64
Private Markets — Multi-Alternatives — Acquisitions & Dispositions Impact($M)					0
Alternatives Client Assets — Total ($B, IR Supplement)11	800.00	715.00	687.00	676.00	717.00	556.00	531.00	529.00	526.00	392.00	381.00	377.00
Alternatives Fee-Paying AUM — Total ($B, IR Supplement)9	573.00	474.00	457.00	455.00	526.00	392.00	381.00	377.00	305.00	297.00	300.00	295.00
Total Illiquid Alternatives — Fee-Paying AUM ($B)									141.00			137.00
Infrastructure — Fee-Paying AUM ($B)									39.00			36.00
Real Estate — Fee-Paying AUM ($B)									27.00			28.00
Real Assets Subtotal — Fee-Paying AUM ($B)									66.00			64.00
Private Equity — Fee-Paying AUM ($B)									36.00			35.00
Opportunistic Credit Strategies — Fee-Paying AUM ($B)									32.00			31.00
Alternative Solutions — Fee-Paying AUM ($B)									7.00			7.00
Liquid Alternatives — Fee-Paying AUM ($B)									76.00			74.00
Liquid Credit — Fee-Paying AUM ($B)									88.00			84.00
Alternatives Non-Fee-Paying Commitments — Total ($B, IR Supplement)7									29.00			32.00
Total Illiquid Alternatives — Non-Fee-Paying Commitments ($B)									29.00			31.00
Infrastructure — Non-Fee-Paying Commitments ($B)									13.00			15.00
Real Assets Subtotal — Non-Fee-Paying Commitments ($B)									13.00			15.00
Private Equity — Non-Fee-Paying Commitments ($B)									7.00			7.00
Opportunistic Credit Strategies — Non-Fee-Paying Commitments ($B)									5.00			3.00
Alternative Solutions — Non-Fee-Paying Commitments ($B)									4.00			6.00
Liquid Alternatives — Non-Fee-Paying Commitments ($B)												1.00
Total Illiquid Alternatives — Client Assets ($B)									170.00			168.00
Infrastructure — Client Assets ($B)									52.00			51.00
Real Estate — Client Assets ($B)									27.00			28.00
Real Assets Subtotal — Client Assets ($B)									79.00			79.00
Private Equity — Client Assets ($B)									43.00			42.00
Opportunistic Credit Strategies — Client Assets ($B)									37.00			34.00
Alternative Solutions — Client Assets ($B)									11.00			13.00
Liquid Alternatives — Client Assets ($B)									76.00			75.00
Liquid Credit — Client Assets ($B)									88.00			84.00
Private Markets Dry Powder — Available Capital to Deploy ($B)5	139.00
Private Markets Dry Powder — AUM Not Yet Earning Fees ($B)	96.00
Private Markets Gross Fundraising — Quarterly ($B)	14.00
Private Markets Gross Fundraising — LTM ($B)	68.00
Private Markets Gross Capital Deployment — Quarterly ($B)	30.00
Private Markets Gross Capital Deployment — LTM ($B)	88.00

Total Consolidated Revenue (GAAP)($M)6	7,752	7,084	6,698	7,008	6,509	5,423	5,276	5,677	5,197	4,805	4,728	4,631
Total Investment Advisory, Administration Fees and Securities Lending Revenue (Base Fees)($M)4	6,036	5,726	5,438	5,278	5,046	4,454	4,401	4,417	4,030	3,875	3,778	3,605
Investment Advisory and Administration Fees (Ex-Securities Lending)($M)	5,783	5,487	5,259	5,104	4,843	4,283	4,244	4,256	3,881	3,721	3,627	3,448
Securities Lending Revenue($M)2	253	239	179	174	203	171	157	161	149	154	151	157
Indemnified Securities on Loan at Fair Value ($B, Note 15)		458.00	397.00		318.00	317.00	316.00		309.00	274.00	270.00
Indemnified Securities Lending Cash & Securities Collateral ($B, Note 15)		491.00	422.00		340.00	337.00	334.00		330.00	293.00	289.00
Total Long-Term Base Fees & Securities Lending($M)6	5,682	5,383	5,098	4,948	4,728	4,150	4,108	4,124	3,766	3,628	3,533	3,365
Equity Base Fees & Securities Lending — Subtotal($M)3	2,792	2,615	2,386	2,281	2,154	1,908	1,867	1,933	1,862	1,789	1,706	1,586
Active Equity Base Fees($M)	658	626	593	585	557	507	518	558	553	539	516	484
ETFs (iShares) Equity Base Fees($M)	2,134	1,989	1,793	1,696	1,597	1,401	1,349	1,375	1,309	1,250	1,190	1,102
Non-ETF Index Equity Base Fees (Pre-2025 Breakdown)($M)								209	198	190	187	183
Fixed Income Base Fees & Securities Lending — Subtotal($M)3	1,014	982	965	947	906	853	844	854	847	807	811	779
Active Fixed Income Base Fees($M)	550	539	531	526	513	487	492	494	493	481	484	468
ETFs (iShares) Fixed Income Base Fees($M)	464	443	434	421	393	366	352	360	354	326	327	311
Non-ETF Index Fixed Income Base Fees (Pre-2025 Breakdown)($M)								96	93	88	92	85
Multi-Asset Base Fees (Active & Total)($M)	405	387	371	363	344	312	313	319	318	306	305	290
Alternatives Base Fees — Subtotal($M)3	908	851	855	847	831	656	685	626	378	382	378	389
Private Markets / Illiquid Alternatives Base Fees (Unified 2018–2026)($M)2	668	639	658	663	653	499	535	480	235	241	240	251
Private Markets Base Fees (Post-GIP/HPS Taxonomy, 2023–2026)($M)	668	639	658	663	653	499	535	480	235	241	240	251
Illiquid Alternatives Base Fees (Pre-2025 Taxonomy, 2018–2024)($M)									235	241	240	251
Liquid Alternatives Base Fees($M)	240	212	197	184	178	157	150	146	143	141	138	138
Currency & Commodities Base Fees (Pre-2025 Alternatives Sub-line)($M)								80	63	59	45	44
Non-ETF Index Combined Base Fees (2023–2026 Presentation)($M)	399	385	342	348	353	313	307	312	298	285	288	277
Digital Assets, Commodities & Multi-Asset ETFs Base Fees (2023–2026 Presentation)($M)	164	163	179	162	140	108	92	80	63	59	45	44
Cash Management Base Fees($M)	354	343	340	330	318	304	293	293	264	247	245	240
Total Investment Advisory Performance Fees($M)6	630	305	272	754	516	94	60	451	388	164	204	311
Performance Fees — Equity($M)	21	60	22	96	14	12	10	112	13	28	8	61
Performance Fees — Fixed Income($M)	0	3	2	2	0	2	12	22	3	5	4	2
Performance Fees — Multi-Asset($M)	9	5	9	11	2	6	4	10	1	11	2	5
Performance Fees — Alternatives Subtotal($M)2	600	237	239	645	500	74	34	307	371	120	190	243
Performance Fees — Private Markets / Illiquid Alternatives (Unified)($M)	191	137	232	334	298	39	24	108	7	68	125	149
Performance Fees — Liquid Alternatives($M)	409	100	7	311	202	35	10	199	364	52	65	94
Deferred Carried Interest Liability — Ending Balance (Note 14)($M)1		3,521	3,560		3,440	2,100	1,932		1,960	1,886	1,814
Deferred Carried Interest — Net Unrealized Change($M)			169		92	204	104		79	130	142
Remaining Performance Obligations (RPO) — Alternatives Advisory (Note 3)($M)		951	1,114		1,351	1,426	1,393		591	619	659
Technology Services and Subscription Revenue (Aladdin, eFront, Preqin)($M)2	588	566	530	531	515	499	436	428	403	395	377	379
Technology Services Annual Contract Value (ACV) YoY Growth (%)(%)				31.0%	29.0%	32.0%	30.0%
Remaining Performance Obligations (RPO) — Upfront Technology Contracts (Note 3)($M)		625	509		450	486	480		306	301	303
Total Distribution Fees Revenue($M)	414	395	389	359	355	320	321	322	323	318	310	303
Total Advisory and Other Revenue($M)2	84	92	69	86	77	56	58	59	53	53	59	33
Advisory Revenue($M)	10	8	12	11	12	13	14	14	11	11	13	15
Other Revenue (Transition Management, Equity Method & Other)($M)	74	84	57	75	65	43	44	45	42	42	46	18
Geographic Revenue Disaggregation — Total (Note 21)($M)3		7,084	6,698		6,509	5,423	5,276		5,197	4,805	4,728
Geographic Revenue — Americas($M)		4,694	4,372	4,735	4,181	3,563	3,477	3,852	3,206	3,215	3,138	3,107
Geographic Revenue — Europe($M)		2,054	1,959	1,940	2,065	1,604	1,557	1,582	1,788	1,364	1,403	1,333
Geographic Revenue — Asia-Pacific($M)		336	367	333	263	256	242	243	203	226	187	191

Revenue Used for Operating Margin Measurement (Non-GAAP / As Adjusted)($M)3	6,967	6,352	5,993	6,332	5,871	4,847	4,706	5,112	4,648	4,266	4,210	4,129
Revenue — GAAP Basis (Reconciliation Table)($M)	7,752	7,084	6,698	7,008	6,509	5,423	5,276	5,677	5,197	4,805	4,728	4,631
Adjustment — Distribution Fees($M)	-414	-395	-389	-359	-355	-320	-321	-322	-323	-318	-310	-303
Adjustment — Investment Advisory Fees (Distribution & Servicing)($M)	-371	-337	-316	-317	-283	-256	-249	-243	-226	-221	-208	-199
Total Operating Expense (GAAP)($M)5	5,424	4,623	3,884	5,347	4,554	3,692	3,578	3,602	3,191	3,005	3,035	3,046
Employee Compensation and Benefits Expense($M)	2,440	2,274	2,225	2,584	2,357	1,764	1,741	1,885	1,578	1,503	1,580	1,503
Total Sales, Asset and Account Expense($M)3	1,413	1,342	1,257	1,226	1,162	1,063	1,009	996	962	929	888	855
Distribution and Servicing Costs($M)	785	732	705	676	638	576	570	565	549	539	518	502
Direct Fund Expense($M)	551	543	481	470	464	441	392	389	379	358	338	318
Sub-Advisory and Other Sales/Account Expense($M)	77	67	71	80	60	46	47	42	34	32	32	35
Total General and Administration (G&A) Expense($M)11	731	720	674	814	689	613	615	624	562	534	529	589
G&A — Marketing and Promotional($M)	82	94	101	101	82	93	97	92	64	76	82	87
G&A — Occupancy and Office Related($M)	184	153	147	150	137	120	114	113	105	102	101	105
G&A — Portfolio Services($M)	69	68	70	62	69	62	64	68	65	63	66	68
G&A — Technology($M)	237	227	206	209	213	198	189	182	175	157	160	186
G&A — Professional Services($M)	71	80	75	98	104	51	73	88	67	64	58	67
G&A — Communications($M)	10	11	10	10	12	11	10	10	10	9	10	11
G&A — Foreign Exchange Remeasurement($M)	0	0	-4	3	-3	4	-8	-7	3	2	2	-4
G&A — Contingent Consideration Fair Value Adjustments($M)	564	11	-549	455	93	76	96	-28	-2	1	-7	2
G&A — Product Launch Costs($M)												0
G&A — Charitable Contribution($M)			0	109	0		0	0
G&A — Other General and Administration($M)	78	87	69	72	75	74	76	78	75	60	57	67
Amortization and Impairment of Intangible Assets($M)	276	276	277	268	253	137	117	125	89	39	38	38
Restructuring Charge($M)	0	0	0	0	0	39	0	0	0	0	0	61
Operating Income — GAAP Basis($M)	2,328	2,461	2,814	1,661	1,955	1,731	1,698	2,075	2,006	1,800	1,693	1,585
Operating Income — As Adjusted (Non-GAAP)($M)12	3,330	2,916	2,669	2,848	2,621	2,099	2,032	2,326	2,128	1,881	1,775	1,716
Operating Income Used for Operating Margin Measurement($M)												1,716
Non-GAAP Operating Adjustment — Amortization & Impairment of Intangibles($M)	276	276	277	268	253	137	117	125	89	39	38	38
Non-GAAP Operating Adjustment — Acquisition-Related Compensation Costs($M)	84	95	107	315	262	76	85	116	11	19	2	2
Non-GAAP Operating Adjustment — Acquisition-Related Transaction Costs($M)		13	15	29	44	10	39	38	17	13	22	0
Non-GAAP Operating Adjustment — Acquisition-Related G&A Expense($M)	46	13			44
Non-GAAP Operating Adjustment — Contingent Consideration Fair Value($M)	564	11	-549	455	93	76	96	-28	-2	1	-7	2
Non-GAAP Operating Adjustment — Deferred Cash Compensation Appreciation($M)	32	60	5	11	14	30	-3	0	7	9	27	28
Non-GAAP Operating Adjustment — Restructuring Charge($M)	0	0	0	0	0	39	0	0	0	0	0	61
Non-GAAP Operating Adjustment — Charitable Contribution($M)			0	109	0		0	0
Non-GAAP Operating Adjustment — New York / Hudson Yards Lease Costs($M)								0	0	0	0	0
Non-GAAP Operating Adjustment — Product Launch Costs & Commissions($M)												0
Non-GAAP Operating Adjustment — Reduction of Indemnification Asset($M)								0	0	0		0
Operating Margin — GAAP Basis (%)(%)	30.0%	34.7%	42.0%	23.7%	30.0%	31.9%	32.2%	36.6%	38.6%	37.5%	35.8%	34.2%
Operating Margin — As Adjusted / Non-GAAP (%)(%)	47.8%	45.9%	44.5%	45.0%	44.6%	43.3%	43.2%	45.5%	45.8%	44.1%	42.2%	41.6%
Total Nonoperating Income (Expense) — GAAP Basis($M)2	316	258	28	-54	42	521	65	28	259	214	220	342
Less: Net Income (Loss) Attributable to NCI / CIPs($M)	181	35	6	51	134	72	5	-9	60	42	50	114
Nonoperating Income (Expense), Net of NCI / CIPs($M)	135	223	22	-105	-92	449	60	37	199	172	170	228
Nonoperating Income (Expense), Net of NCI / CIPs — As Adjusted (Non-GAAP)($M)4	127	145	22	-122	-106	404	75	39	190	165	139	199
Net Gain (Loss) on Investments, Net of NCI / CIPs — Subtotal($M)7	8	193	16	-21	37	85	30	1	60	75	81	131
Investment Gains (Losses) — Private Equity($M)	-21	34	9	-42	-14	25	48	-42	9	15	8	68
Investment Gains (Losses) — Real Assets($M)	17	18	5	17	3	1	-2	-5	13	9	-3	2
Investment Gains (Losses) — Other Alternatives($M)	14	8	15	2	8	3	9	8	9	10	14	17
Investment Gains (Losses) — Other Investments (Fixed Income / Equity / Multi-Asset)($M)	-10	55	-13	-15	26	11	-10	42	20	34	31	15
Investment Gains (Losses) — Hedge Gain (Loss) on Deferred Cash Compensation Plans($M)	8	78	0	17	14	45	-15	-2	9	7	31	29
Other Gains / Income (Expense)($M)	164	55	50	-68	-107	393	23	-10	57	45	40	20
Total Net Gain (Loss) on Investments, Net of NCI / CIPs($M)	172	248	66	-89	-70	478	53	-9	117	120	121	151
Interest and Dividend Income($M)		109	90	124	113	144	173	212	236	178	141	159
Interest Expense($M)		134	134	140	-135	-173	-166	-166	-154	-126	-92	-82
Net Interest Income (2021–2026)($M)	-37	-25	-44	-16	-22	-29	7	46	82	52	49	77
Income Before Income Taxes (GAAP)($M)	2,644	2,719	2,842	1,607	1,997	2,252	1,763	2,103	2,265	2,014	1,913	1,927
Income Tax Expense (GAAP)($M)2	724	677	516	372	470	587	248	442	574	477	290	438
Effective Tax Rate — GAAP (%)(%)	29.4%	25.2%	18.2%	23.9%	25.2%	26.9%	14.1%	20.9%	26.0%	24.2%	15.6%	24.2%
Effective Tax Rate — As Adjusted / Non-GAAP (%)(%)	24.2%	25.2%	23.2%	20.2%	24.2%	24.8%	16.0%	20.8%	26.0%	24.2%	23.0%	24.2%
Consolidated Net Income (GAAP)($M)	1,920	2,042	2,326	1,235	1,527	1,665	1,515	1,661	1,691	1,537	1,623	1,489
Net Income Attributable to BlackRock, Inc. — GAAP Basis($M)2	1,659	1,914	2,212	1,127	1,323	1,593	1,510	1,670	1,631	1,495	1,573	1,375
Net Income Attributable to NCI — SubCo Units (GIP Exchangeable Units)($M)	80	93	108	57	70	0	0	0	0
Net Income Attributable to BlackRock, Inc. for Diluted EPS (Incl. SubCo Units)($M)	1,739	2,007	2,320	1,184	1,393	1,593	1,510	1,670
Net Income Attributable to BlackRock, Inc. — As Adjusted (Non-GAAP)($M)10	2,621	2,291	2,068	2,176	1,907	1,883	1,770	1,874	1,715	1,550	1,473	1,451
Net Income Adjustment (After-Tax) — Amortization & Impairment of Intangibles($M)	207	206	207	200	189	102	87	94	67	29	28	28
Net Income Adjustment (After-Tax) — Acquisition-Related Compensation Costs($M)	66	71	80	231	198	57	63	87	8	13	2	1
Net Income Adjustment (After-Tax) — Acquisition-Related Transaction Costs($M)		9	11	20	33	9	29	28	13	10	15	0
Net Income Adjustment (After-Tax) — Acquisition-Related G&A Expense($M)	35	9			33
Net Income Adjustment (After-Tax) — Contingent Consideration Fair Value($M)	556	11	-554	454	94	97	72	-21	-2	1	-5	2
Net Income Adjustment (After-Tax) — Net Impact of Hedged Deferred Cash Comp Plans($M)	18	-13	4	-4	0	-11	9	2	-2	2	-3	-1
Net Income Adjustment (After-Tax) — Restructuring Charge($M)	0	0	0	0	0	29	0	0	0	0	0	46
Net Income Adjustment (After-Tax) — Charitable Contribution($M)			0	80	0		0	0
Net Income Adjustment (After-Tax) — New York / Hudson Yards Lease Costs($M)								0	0	0	0	0
Net Income Adjustment — Discrete Income Tax Matters($M)	0	0	0	11	0	7	0	14	0	0	-137	0
Basic Earnings Per Common Share — GAAP ($)($)	10.72	12.34	14.24	7.27	8.54	10.29	9.74	10.78	11.02	10.07	10.58	9.25
Diluted Earnings Per Common Share — GAAP ($)($)	10.57	12.19	14.06	7.16	8.43	10.19	9.64	10.63	10.90	9.99	10.48	9.15
Diluted Earnings Per Common Share — As Adjusted / Non-GAAP ($)($)	15.93	13.91	12.53	13.16	11.55	12.05	11.30	11.93	11.46	10.36	9.81	9.66
Basic Weighted-Average Common Shares Outstanding (Millions)(M)	0	0	0	0	0	0	0	0	0	0	0	0
Diluted Weighted-Average Common Shares Outstanding (Incl. SubCo Units, Millions)(M)	0	0	0	0	0	0	0	0	0	0	0	0
End-of-Period Common Shares Outstanding (Incl. SubCo Units, Shares)	162	163	163	163	163	155	155	155	148	148	149	148
Cash Dividends Declared and Paid Per Common Share ($)($)	5.73	5.73	5.73	5.21	5.21	5.21	5.21	5.10	5.10	5.10	5.10	5
Common Share Repurchases ($M, Supplemental Highlight)($M)	550	450	450	500	375	375	375	375	375	500	375	375

Total Assets — GAAP Consolidated($M)3		175,875	170,237	169,998	162,682	146,470	141,942	138,615	132,816	125,271	123,988	123,211
Less: Total Assets of Consolidated Sponsored Investment Products (CIPs)($M)		4,462	4,459		3,639	2,819	2,404		2,728	2,576	2,428
Total Assets — As Adjusted (Ex-CIPs & Separate Accounts)($M)6		99,877	100,422		99,235	81,249	80,080		67,044	63,242	62,186
Cash and Cash Equivalents — As Adjusted Ex-CIPs($M)1		10,157	9,428		9,774	9,243	7,407		13,857	10,002	8,992
Cash and Cash Equivalents — GAAP Consolidated($M)		10,492	9,841	11,468	9,979	9,478	7,747	12,779	14,037	10,228	9,374	8,753
Accounts Receivable($M)		5,444	5,219	5,158	4,796	4,351	4,281	4,304	4,385	3,987	3,961	3,916
Investments — As Adjusted Ex-CIPs($M)		11,072	10,792		10,465	8,536	8,575		8,088	8,003	8,408
Goodwill and Intangible Assets, Net — Total($M)2		62,618	62,987		63,518	50,005	50,148		33,799	33,870	33,741
Goodwill($M)		35,203	35,296	35,283	35,356	28,328	28,298	25,949	15,665	15,653	15,522	15,524
Intangible Assets, Net($M)		27,415	27,691	27,968	28,162	21,677	21,850	20,743	18,134	18,217	18,219	18,258
Property and Equipment, Net($M)		1,305	1,279	1,256	1,227	1,159	1,120	1,103	1,080	1,052	1,106	1,112
Operating Lease Right-of-Use Assets($M)		1,848	1,849	1,874	1,909	1,553	1,520	1,519	1,434	1,459	1,410	1,421
Separate Account Assets & Securities Lending Collateral (GAAP Pass-Through)($M)		71,536	65,356		59,808	62,402	59,458		63,044	59,453	59,374
Total Liabilities — GAAP Consolidated($M)1		111,335	106,921	108,456	100,827	94,868	91,752	89,260	89,192	83,032	82,243	81,971
Total Liabilities — As Adjusted (Ex-CIPs & Separate Accounts)($M)6		39,337	40,844		40,711	32,053	31,987		25,803	23,077	22,395
Accrued Compensation and Benefits($M)		2,432	1,588		2,785	1,737	1,153		2,074	1,456	1,061
Accounts Payable and Accrued Liabilities — As Adjusted($M)		2,012	2,097		1,646	1,686	1,619		1,449	1,351	1,445
Borrowings (Senior Notes / Long-Term Debt)($M)		12,744	12,749		12,766	12,762	12,349		12,370	9,857	9,860
Deferred Income Tax Liabilities($M)		4,488	4,660		4,997	3,578	3,675		3,385	3,405	3,456
Operating Lease Liabilities($M)		2,224	2,216	2,228	2,277	1,948	1,910	1,908	1,809	1,821	1,772	1,784
Contingent Consideration Liabilities (GIP / HPS / Kreos)($M)		7,875	7,865		7,978	4,472	4,390
Total Equity — GAAP Consolidated($M)4		64,540	63,316	56,115	61,855	51,602	50,190	47,664	43,624	42,239	41,745	39,500
BlackRock, Inc. Stockholders' Equity($M)3		57,613	56,688	55,888	55,519	49,141	48,036	47,495	41,178	40,102	39,725	39,347
Additional Paid-In Capital($M)		19,414	19,146	19,748	19,649	13,871	13,744	13,446	19,905	19,771	19,617	19,833
Treasury Stock, at Cost($M)		-1,355	-964	-1,216	-1,155	-1,285	-1,042	-386	-12,829	-12,551	-12,082	-11,991
Accumulated Other Comprehensive Income (Loss)($M)		-653	-678	-545	-558	-515	-951	-1,178	-632	-978	-933	-840
Noncontrolling Interests — GAAP Total (Incl. CIPs & SubCo)($M)		6,927	6,628	227	6,336	2,461	2,154	169	2,446	2,137	2,020	153
Noncontrolling Interests of Consolidated Sponsored Investment Products (CIPs)($M)		4,000	3,738		3,331	2,406	2,097		2,383	2,074	1,954
Noncontrolling Interests — As Adjusted (SubCo Units Ex-CIPs)($M)		2,927	2,890		3,005	55	57		63	63	66
Total Economic Investment Exposure (Seed & Co-Investment Portfolio)($M)8		4,964	4,904		4,865	4,144	4,437		4,022	4,120	4,426
Investments — GAAP Consolidated($M)		15,144	14,574		13,669	10,874	10,525		10,539	10,216	10,337
Investments Held by CIPs($M)		-10,525	-10,402		-9,283	-6,886	-6,271		-6,642	-6,470	-6,506
Net Economic Interest in CIPs($M)		6,453	6,620		6,079	4,548	4,321		4,191	4,257	4,577
Investments — As Adjusted (Balance Sheet Ex-CIPs)($M)		11,072	10,792		10,465	8,536	8,575		8,088	8,003	8,408
Less: Hedged Investment Exposures & Deferred Comp($M)		-1,919	-1,673		-1,686	-1,858	-1,781		-1,799	-1,691	-1,816
Less: Carried Interest Included in Investments($M)		-3,594	-3,670		-3,490	-2,143	-1,987		-1,991	-1,917	-1,864
Economic Exposure — Equity, Fixed Income & Multi-Asset Seed Investments($M)		4,398	4,044		3,859	3,420	3,307		3,148	3,094	2,973
Economic Exposure — Total Alternatives Seed & Co-Investments($M)3		2,485	2,533		2,692	2,582	2,911		2,673	2,717	3,269
Economic Exposure — Private Equity Co-Investments($M)		767	794		1,031	987	1,340		1,233	1,219	1,306
Economic Exposure — Real Assets Co-Investments($M)		797	820		686	687	658		566	598	1,037
Economic Exposure — Other Alternatives Seed/Co-Investments($M)		921	919		975	908	913		874	900	926
Total Liquidity Resources Ex-CIPs (Cash + Undrawn Revolving Credit Facility)($M)3		16,457	15,728		15,674	15,143	12,807		19,257	15,402	13,992
Cash and Cash Equivalents Subtotal Ex-CIPs($M)		10,157	9,428		9,774	9,243	7,407		13,857	10,002	8,992
Undrawn Revolving Credit Facility Capacity($M)		6,300	6,300		5,900	5,900	5,400		5,400	5,400	5,000
Aggregate Regulatory Net Capital Requirement Across Regulated Subsidiaries ($B, Note 19)		2.20	2.20		2.20	2.10	1.90		2.00	1.90	1.80
Geographic Long-Lived Assets — Total (Property & Equipment + ROU Assets, Note 21)($M)3		36,508	36,575		36,583	29,487	29,418		16,745	16,705	16,628
Long-Lived Assets — Americas($M)		32,436	32,516	32,492	32,564	25,489	25,507	25,515	15,208	15,215	15,012	15,017
Long-Lived Assets — Europe($M)		3,923	3,917	3,921	3,902	3,889	3,807	1,437	1,438	1,396	1,520	1,521
Long-Lived Assets — Asia-Pacific($M)		149	142	126	117	109	104	100	99	94	96	98
Operating Cash Flow — GAAP Consolidated($M)4		1,227	-980	2,277	1,414	1,364	-1,128	2,618	1,381	1,365	-408	1,998
Operating Cash Flow of Consolidated Sponsored Investment Products (CIPs)($M)				-499	-1,294			-363	-890
Operating Cash Flow — As Adjusted (Ex-CIPs)($M)				2,776	2,708			2,981	2,271
Stock-Based Compensation Expense (Cash Flow)($M)		302	319	421	419	226	241	242	156	179	176	161
Depreciation and Amortization (Cash Flow)($M)		385	380	369	346	217	194	200	110	108	111	111
Investing Cash Flow — GAAP Consolidated($M)6		-460	-280	-212	-923	53	-3,336	-3,071	-74	163	-22	-186
Investing Cash Flow of CIPs($M)				-4	-5	-60	182
Investing Cash Flow — As Adjusted (Ex-CIPs)($M)				-208	-918	113	-3,518
Capital Expenditures (Purchases of Property & Equipment)($M)		109	106	130	78	89	78	90	94	7	64	124
Acquisitions, Net of Cash Acquired($M)		0	-15	0	-390	17	-3,123	-2,862	0	-74	0	0
Purchases of Investments($M)		-440	-313	-240	-710	-136	-298	-232	-69	-193	-324	-165
Sales and Maturities of Investments($M)		114	69	77	237	79	151	120	126	310	210	130
Financing Cash Flow — GAAP Consolidated($M)6		-117	-304	-588	96	26	-661	-578	2,360	-641	1,095	-503
Financing Cash Flow of CIPs($M)											388	574
Financing Cash Flow — As Adjusted (Ex-CIPs)($M)											707	-1,077
Cash Dividends Paid on Common Stock($M)						-808	-838	-791	-757	-758	-795	-743
Repurchases of Common Stock (Cash Flow Statement)($M)						-396	-657	-386	-391	-519	-634	-384
Proceeds from Long-Term Borrowings($M)				0	0	1,080	0	0	2,495	0	2,979	0
Repayments of Long-Term Borrowings($M)				0	0	-796	0	0	0	0	-1,000	0

Dedicated Sustainable Investing Platform — Total AUM ($B, SASB FN-AC-410a.1)1
BlackRock Investment Stewardship (BIS) — Total Company Engagements17		761
BIS — Unique Companies Engaged		702
BIS — Companies Engaged Multiple Times		49
BIS — Global Markets Engaged		34
BIS Engagements by Theme — Board Quality & Effectiveness		473
BIS Engagements by Theme — Corporate Strategy, Purpose & Financial Resilience		635
BIS Engagements by Theme — Incentives Aligned with Value Creation		347
BIS Engagements by Theme — Climate and Natural Capital		145
BIS Engagements by Theme — Company Impacts on People		187
BIS Proxy Voting — Total Shareholder Meetings Voted Globally		9,187
BIS Proxy Voting — Meetings Voted in Americas		3,442
BIS Proxy Voting — Meetings Voted in EMEA		1,724
BIS Proxy Voting — Meetings Voted in APAC		4,021
BIS Proxy Voting — Total Management & Shareholder Proposals Voted Globally		98,629
BIS Proxy Voting — Proposals Voted in Americas		31,845
BIS Proxy Voting — Proposals Voted in EMEA		29,936
BIS Proxy Voting — Proposals Voted in APAC		36,848
BIS Proxy Voting — Unique Companies Voted		8,698

S&P 500 Equity Market Index (FRED: SP500)	7,652	7,499	6,529	6,846	6,688	6,205	5,612	5,882	5,762	5,460	5,254	4,770
NASDAQ Composite Index (FRED: NASDAQCOM)	26,861	26,214	21,591	23,242	22,660	20,370	17,299	19,311	18,189	17,733	16,379	15,011
CBOE Volatility Index — VIX (FRED: VIXCLS)	16	18	20	18	16	24	19	17	17	14	14	15
Effective Federal Funds Rate (%, FRED: FEDFUNDS)(%)	3.7%	3.6%	3.6%	3.9%	4.3%	4.3%	4.3%	4.7%	5.3%	5.3%	5.3%	5.3%
Secured Overnight Financing Rate — SOFR (%, FRED: SOFR)(%)	3.7%	3.6%	3.7%	4.0%	4.3%	4.3%	4.3%	4.7%	5.3%	5.3%	5.3%	5.3%
2-Year U.S. Treasury Constant Maturity Yield (%, FRED: GS2)(%)	4.4%	4.0%	3.6%	3.5%	3.7%	3.9%	4.2%	4.2%	4.0%	4.8%	4.5%	4.8%
10-Year U.S. Treasury Constant Maturity Yield (%, FRED: GS10)(%)	4.8%	4.4%	4.2%	4.1%	4.3%	4.4%	4.5%	4.3%	4.0%	4.4%	4.2%	4.4%
10-Year Minus 2-Year U.S. Treasury Yield Curve Spread (%, FRED: T10Y2Y)(%)	0.4%	0.3%	0.5%	0.7%	0.6%	0.5%	0.3%	0.3%	0.2%	-0.4%	-0.4%	-0.4%
ICE BofA U.S. Corporate Index Option-Adjusted Spread (%, FRED: BAMLC0A0CM)(%)	0.8%	0.8%	0.9%	0.8%	0.8%	0.9%	1.0%	0.8%	0.9%	1.0%	0.9%	1.0%
ICE BofA U.S. Corporate Index Effective Yield (%, FRED: BAMLC0A0CMEY)(%)	6.0%	5.2%	5.1%	4.8%	4.8%	5.0%	5.2%	5.4%	4.8%	5.5%	5.4%	5.1%
ICE BofA U.S. High Yield Index Option-Adjusted Spread (%, FRED: BAMLH0A0HYM2)(%)	3.1%	2.8%	3.3%	2.8%	2.8%	3.0%	3.6%	2.9%	3.0%	3.2%	3.2%	3.4%
ICE BofA U.S. High Yield Index Effective Yield (%, FRED: BAMLH0A0HYM2EY)(%)	8.2%	7.0%	7.3%	6.5%	6.6%	6.8%	7.5%	7.3%	6.7%	7.7%	7.5%	7.4%
U.S. Mutual Funds — Total Financial Assets ($M, Federal Reserve Z.1: BOGZ1FL654090000Q)($M)		25,320	23,025	23,635	23,473	22,686	21,179	21,685	22,028	20,995	20,831	19,600
U.S. Money Market Funds — Total Financial Assets ($M, Federal Reserve Z.1: MMMFFAQ027S)($M)		8,441	8,290	8,190	7,774	7,481	7,398	7,243	6,839	6,548	6,441	6,358
U.S. Retail Money Market Funds ($B, FRED: WRMFNS)	3,034.00	3,014.20	3,040.20	2,997.50	2,890.10	2,825.70	2,796.20	2,646.90	2,511.60	2,418.90	2,364.70	2,238.80
Nominal Broad U.S. Dollar Index (FRED: DTWEXBGS)	120	119	119	121	120	122	128	126	123	123	121	122

31 metrics have no data in the last 12 quarters — .

Italic numbers are calculated by StockData from reported figures (hover for the formula). Numbers with a dotted underline are read from the text of earnings releases and presentations; hover to see the exact sentence. Tick a row to add it to the chart above (up to 8 lines).

Methodology and excluded metrics

Fiscal Calendar & Dual-CIK Structure: BlackRock, Inc. operates on a calendar fiscal year ending December 31 (Q1 ends Mar 31, Q2 ends Jun 30, Q3 ends Sep 30, Q4 ends Dec 31). On October 1, 2024, in connection with the acquisition of Global Infrastructure Management, LLC (GIP), BlackRock completed a holding-company reorganization under which New BlackRock (CIK 0002012383) became the publicly traded parent and legacy BlackRock, Inc. (CIK 0001364742) was renamed BlackRock Finance, Inc. All historical and current filings across both CIKs are seamlessly unified through Q3 2026 (ended September 30, 2026, Form 8-K EX-99.1 & IR Supplement filed October 15, 2026).
2024–2025 Strategic Acquisitions & Taxonomy Evolution (GIP, Preqin, HPS Investment Partners): BlackRock closed the acquisition of Global Infrastructure Partners (GIP, Oct 1, 2024, adding ~$69.9B fee-paying AUM), Preqin (Mar 3, 2025, integrated into Technology Services & Subscription Revenue), and HPS Investment Partners (Jul 1, 2025, adding ~$139.0B Private Credit AUM). Beginning in 1Q25, BlackRock updated its Product Type and Private Markets disclosures to present Private Markets (Infrastructure, Private Credit, Private Equity, Real Estate, Multi-Alternatives) and Digital Assets / Commodities explicitly, with comparative recast back to 1Q24/FY2024. Both the unified long-horizon series (FY2016–FY2026Q3) and the distinct pre-/post-reclassification sub-series are preserved.
Three Orthogonal AUM & Flow Dimensions (Groups 1–4): BlackRock's $15,686,281M Ending AUM (as of 3Q26) is disaggregated across three independent dimensions that each reconcile to Long-Term AUM ($14,619,437M) and Total AUM ($15,686,281M): (1) Client Type (Retail $1,288,808M, ETFs $5,986,214M, Institutional Active $2,866,640M, Institutional Index $4,477,775M), (2) Investment Style (Active $4,155,448M, ETFs $5,986,214M, Non-ETF Index $4,477,775M), and (3) Product Type (Equity $8,674,648M, Fixed Income $3,407,891M, Multi-Asset $1,232,126M, Alternatives $827,826M [Private Markets $680,829M + Liquid Alternatives $146,997M], Digital Assets $114,477M, Currency & Commodities $362,469M), plus Cash Management ($1,066,844M).
GAAP vs. Non-GAAP ('As Adjusted') & Consolidated Sponsored Investment Products (CIPs) Deconsolidation (Groups 6–7): Under U.S. GAAP, BlackRock consolidates certain sponsored investment funds (CIPs/CLOs) in which it holds a controlling financial interest. Group 6 reports both GAAP and Non-GAAP ('As Adjusted') Operating Income, Operating Margin, Nonoperating Income, Net Income, and Diluted EPS (including GIP SubCo exchangeable units), while Group 7 reports the full Balance Sheet, Economic Investment Exposure, Liquidity Resources, and Cash Flows on a GAAP, CIPs, and As Adjusted (Ex-CIPs) basis.
EMEA & UK FCA-Regulated Subsidiaries (Group 8): Integrates 6 years (FY2020–FY2025) of audited UK Companies House statutory financial statements for BlackRock's two principal UK FCA-regulated operating entities — BlackRock Investment Management (UK) Limited (Company No. 02020394; FY2025 revenue £2,143.5M, PBT £391.3M, AUM £1,252B) and BlackRock Advisors (UK) Limited (Company No. 00796793; FY2025 revenue £1,101.5M, PBT £799.8M, AUM £1,470B) — alongside Country-by-Country Combined UK operations (£3,190.9M revenue, £1,170.0M PBT after UK intercompany eliminations) and EMEA segment totals.
Strict Formula Compliance: Every cell contains either a directly reported figure (with verbatim quote verification for text sources) or one of the two permitted period-split derivations: `Q4 = full year (10-K) − nine months (10-Q)` (`Q4_NOTE`) and `quarter = year-to-date − previous year-to-date (cash flow statement)` (`YTD_NOTE`).

Data updated 2026-10-25.

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Total AUM Rollforward, Organic Growth & Regional Summary

AUM, Average AUM & Component Changes by Client Type

AUM & Flows by Investment Style, Product Type, Investment Performance & Form 13F

Private Markets & Alternatives: AUM, Fee-Paying AUM, Dry Powder, Deployment & Realizations

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Total Consolidated Revenue (GAAP) ($M)40 periods

BlackRock, Inc. (BLK) operating KPIs

KPIs

Every KPI on its own page

Total AUM Rollforward, Organic Growth & Regional Summary

AUM, Average AUM & Component Changes by Client Type

AUM & Flows by Investment Style, Product Type, Investment Performance & Form 13F

Private Markets & Alternatives: AUM, Fee-Paying AUM, Dry Powder, Deployment & Realizations

Revenue Disaggregation, Performance Fees, Technology/Aladdin & Securities Lending

GAAP vs. Non-GAAP ('As Adjusted') Profitability, Expenses & Diluted EPS

Balance Sheet (GAAP vs. CIPs vs. As Adjusted), Economic Investment Exposure, Liquidity & Cash Flows

EMEA & UK Regulated Subsidiaries (BIM UK 02020394 & BAL UK 00796793)

Human Capital, Executive Compensation, Governance & ESG/Stewardship

Capital Markets & Asset Management Industry Benchmarks (FRED)