BlackRock Inc. (BLK) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Distribution Fees	1,381.0	1,521.0	1,131.0	1,069.0	1,155.0	1,183.0
Technology Services Revenue	1,364.0	1,281.0	1,139.0	974.0	785.0	657.0
Advisory and Other Revenue	163.0	169.0	192.0	269.0	293.0	298.0
Other	14,965.0	16,403.0	13,743.0	12,227.0	11,965.0	11,462.0
Total revenues [+]	17,873.0	19,374.0	16,205.0	14,539.0	14,198.0	13,600.0	12,261.0	11,401.0
Investment advisory								9,840.0
Performance fees								621.0
Other income								357.0
Revenue growth [+]	-7.7%	19.6%	11.5%	2.4%	4.4%	10.9%	7.5%	2.9%
Distribution Fees	-9.2%	34.5%	5.8%	-7.4%	-2.4%
Technology Services Revenue	6.5%	12.5%	16.9%	24.1%	19.5%
Advisory and Other Revenue	-3.6%	-12.0%	-28.6%	-8.2%	-1.7%
Cost of goods sold	5,681.0	6,043.0	5,041.0	4,470.0	4,320.0	4,253.0	3,878.0	4,005.0
Gross profit	12,192.0	13,331.0	11,164.0	10,069.0	9,878.0	9,347.0	8,383.0	7,396.0
Gross margin	68.2%	68.8%	68.9%	69.3%	69.6%	68.7%	68.4%	64.9%
Selling, general and administrative [+]	11,488.0	11,924.0	10,510.0	1,758.0	1,638.0	1,446.0	1,278.0	1,380.0
General and administrative				1,758.0	1,638.0	1,446.0	1,278.0	1,380.0
Equity in earnings
Other operating expenses	-5,909.0	-7,904.0	-7,057.0	2,663.0	2,673.0	2,558.0	2,464.0	1,352.0
EBITDA [+]	6,446.0	9,145.0	7,585.0	5,847.0	5,737.0	5,494.0	4,904.0	4,959.0
EBITDA growth	-29.5%	20.6%	29.7%	1.9%	4.4%	12.0%	-1.1%	4.4%
EBITDA margin	36.1%	47.2%	46.8%	40.2%	40.4%	40.4%	40.0%	43.5%
Depreciation	100.0	102.0	126.0	199.0	170.0	151.0	164.0	167.0
EBITA	6,346.0	9,043.0	7,459.0	5,648.0	5,567.0	5,343.0	4,740.0	4,792.0
EBITA margin	35.5%	46.7%	46.0%	38.8%	39.2%	39.3%	38.7%	42.0%
Amortization of intangibles	151.0	147.0	106.0	97.0	50.0	89.0	99.0	128.0
EBIT [+]	6,195.0	8,896.0	7,353.0	5,551.0	5,517.0	5,254.0	4,641.0	4,664.0
EBIT growth	-30.4%	21.0%	32.5%	0.6%	5.0%	13.2%	-0.5%	4.2%
EBIT margin	34.7%	45.9%	45.4%	38.2%	38.9%	38.6%	37.9%	40.9%
Non-recurring items					60.0		76.0
Interest expense, net [+]				203.0	184.0	205.0	205.0	178.0
Interest expense	212.0	205.0	205.0	203.0	184.0	205.0	205.0	204.0
Interest income								26.0
Other income (expense), net [+]	307.0	-518.0	-624.0	439.0	105.0	210.0	95.0	116.0
Gain (loss) on investments				342.0	1.0	161.0	55.0	116.0
Pre-tax income	6,290.0	8,173.0	6,524.0	5,787.0	5,378.0	5,259.0	4,455.0	4,602.0
Income taxes	1,296.0	1,968.0	1,238.0	1,261.0	1,076.0	270.0	1,289.0	1,250.0
Tax rate	20.6%	24.1%	19.0%	21.8%	20.0%	5.1%	28.9%	27.2%
Minority interest				50.0	-3.0	37.0	-2.0	7.0
Net income	5,178.0	5,901.0	4,932.0	4,476.0	4,305.0	4,952.0	3,168.0	3,345.0
Net margin	29.0%	30.5%	30.4%	30.8%	30.3%	36.4%	25.8%	29.3%

Basic EPS [+]	$34.31	$38.76	$32.13	$28.69	$26.86	$30.54	$19.27	$20.10
Growth	-11.5%	20.6%	12.0%	6.8%	-12.1%	58.5%	-4.2%	2.7%
Diluted EPS [+]	$33.97	$38.22	$31.85	$28.43	$26.58	$30.12	$19.02	$19.79
Growth	-11.1%	20.0%	12.1%	6.9%	-11.7%	58.4%	-3.9%	2.8%

Dividends per share [+]				$13.43	$12.28	$10.25	$9.16	$8.72
Growth			-100.0%	9.4%	19.8%	11.9%	5.0%	13.0%

Shares outstanding (basic) [+]	150.9	152.2	153.5	156.0	160.3	162.2	164.4	166.4
Growth	-0.9%	-0.8%	-1.6%	-2.7%	-1.1%	-1.4%	-1.2%	-1.1%
Shares outstanding (diluted) [+]	152.4	154.4	154.8	157.5	161.9	164.4	166.6	169.0
Growth	-1.3%	-0.3%	-1.7%	-2.8%	-1.5%	-1.3%	-1.5%	-1.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.