BlackRock Results Presentation Deck
50%
$11,627
2021
20%
11%
19%
$(288)
Full year expense, as adjusted
($ in millions)
Employee
comp &
benefits (1)
■ Employee comp. & benefits
Distribution & servicing costs
Direct fund expense
General & Administration
$(278)
Product launch
costs and
comissions
$(87)
Percentage Change
2022 compared to 2021
$(465)
Direct fund
expense
Employee comp. & benefits(¹)
Distribution & servicing costs
Direct fund expense
Product launch costs and commissions
General & administration (1)
Total
$(21)
Distribution
& servicing
costs
$209
G&A
expense (1)
Year-over-Year
(5)%
(1)%
(7)%
(98)%
11%
(4)%
$11,162
2022
(1) Amounts exclude product launch costs and commissions incurred in 2022 and 2021, which are presented separately above.
2022 expense, as adjusted, excludes a restructuring charge of $91 million. 2022 and 2021 expense, as adjusted, exclude expenses related to (i) amortization of intangible assets of $151 million and
$147 million, respectively; (ii) acquisition-related compensation costs of $24 million and $88 million, respectively; (iii) contingent consideration fair value adjustments of $3 million and $34 million,
respectively; and (iv) Lease cost - Hudson Yards of $57 million and $28 million, respectively. For further information, see reconciliations to GAAP on page 13 of this earnings release supplement and
note (1) to the condensed consolidated statements of income and supplemental information in the current earnings release.
BlackRock.
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