Overview Financials News + Filings Key Docs Charts Transactions Holdings Ownership Insiders
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| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Distribution Fees | 1,521.0 | 1,131.0 | 1,069.0 | 1,155.0 | 1,183.0 | | | |
| Technology Services Revenue | 1,281.0 | 1,139.0 | 974.0 | 785.0 | 657.0 | | | |
| Advisory and Other Revenue | 169.0 | 192.0 | 269.0 | 293.0 | 298.0 | | | |
| Other | 16,403.0 | 13,743.0 | 12,227.0 | 11,965.0 | 11,462.0 | | | |
| Total revenues [+] | 19,374.0 | 16,205.0 | 14,539.0 | 14,198.0 | 13,600.0 | 12,261.0 | 11,401.0 | 11,081.0 |
| Investment advisory | | | | | | | 9,840.0 | 9,589.0 |
| Performance fees | | | | | | | 621.0 | 550.0 |
| Other income | | | | | | | 357.0 | 237.0 |
| Revenue growth [+] | 19.6% | 11.5% | 2.4% | 4.4% | 10.9% | 7.5% | 2.9% | 8.9% |
| Distribution Fees | 34.5% | 5.8% | -7.4% | -2.4% | | | | |
| Technology Services Revenue | 12.5% | 16.9% | 24.1% | 19.5% | | | | |
| Advisory and Other Revenue | -12.0% | -28.6% | -8.2% | -1.7% | | | | |
| Cost of goods sold | 6,043.0 | 5,041.0 | 4,470.0 | 4,320.0 | 4,253.0 | 3,878.0 | 4,005.0 | 3,829.0 |
| Gross profit | 13,331.0 | 11,164.0 | 10,069.0 | 9,878.0 | 9,347.0 | 8,383.0 | 7,396.0 | 7,252.0 |
| Gross margin | 68.8% | 68.9% | 69.3% | 69.6% | 68.7% | 68.4% | 64.9% | 65.4% |
| Selling, general and administrative [+] | 2,221.0 | 2,465.0 | 1,758.0 | 1,638.0 | 1,446.0 | 1,278.0 | 1,380.0 | 1,453.0 |
| General and administrative | 2,221.0 | 2,465.0 | 1,758.0 | 1,638.0 | 1,446.0 | 1,278.0 | 1,380.0 | 1,453.0 |
| Equity in earnings | | | | | | | | |
| Other operating expenses | 3,547.0 | 2,921.0 | 2,663.0 | 2,673.0 | 2,558.0 | 2,464.0 | 1,352.0 | 1,325.0 |
| EBITDA [+] | 7,831.0 | 6,030.0 | 5,847.0 | 5,737.0 | 5,494.0 | 4,904.0 | 4,959.0 | 4,752.0 |
| EBITDA growth | 29.9% | 3.1% | 1.9% | 4.4% | 12.0% | -1.1% | 4.4% | 14.6% |
| EBITDA margin | 40.4% | 37.2% | 40.2% | 40.4% | 40.4% | 40.0% | 43.5% | 42.9% |
| Depreciation | 268.0 | 252.0 | 199.0 | 170.0 | 151.0 | 164.0 | 167.0 | 121.0 |
| EBITA | 7,563.0 | 5,778.0 | 5,648.0 | 5,567.0 | 5,343.0 | 4,740.0 | 4,792.0 | 4,631.0 |
| EBITA margin | 39.0% | 35.7% | 38.8% | 39.2% | 39.3% | 38.7% | 42.0% | 41.8% |
| Amortization of intangibles | 147.0 | 106.0 | 97.0 | 50.0 | 89.0 | 99.0 | 128.0 | 157.0 |
| EBIT [+] | 7,416.0 | 5,672.0 | 5,551.0 | 5,517.0 | 5,254.0 | 4,641.0 | 4,664.0 | 4,474.0 |
| EBIT growth | 30.7% | 2.2% | 0.6% | 5.0% | 13.2% | -0.5% | 4.2% | 16.0% |
| EBIT margin | 38.3% | 35.0% | 38.2% | 38.9% | 38.6% | 37.9% | 40.9% | 40.4% |
| Non-recurring items | -34.0 | -23.0 | | 60.0 | | 76.0 | | |
| Interest expense, net [+] | 205.0 | 205.0 | 203.0 | 184.0 | 205.0 | 205.0 | 178.0 | 203.0 |
| Interest expense | 205.0 | 205.0 | 203.0 | 184.0 | 205.0 | 205.0 | 204.0 | 232.0 |
| Interest income | | | | | | | 26.0 | 29.0 |
| Other income (expense), net [+] | 928.0 | 1,034.0 | 439.0 | 105.0 | 210.0 | 95.0 | 116.0 | 124.0 |
| Gain (loss) on investments | 841.0 | 972.0 | 342.0 | 1.0 | 161.0 | 55.0 | 116.0 | 124.0 |
| Pre-tax income | 8,173.0 | 6,524.0 | 5,787.0 | 5,378.0 | 5,259.0 | 4,455.0 | 4,602.0 | 4,395.0 |
| Income taxes | 1,968.0 | 1,238.0 | 1,261.0 | 1,076.0 | 270.0 | 1,289.0 | 1,250.0 | 1,131.0 |
| Tax rate | 24.1% | 19.0% | 21.8% | 20.0% | 5.1% | 28.9% | 27.2% | 25.7% |
| Minority interest | 304.0 | 354.0 | 50.0 | -3.0 | 37.0 | -2.0 | 7.0 | -30.0 |
| Net income | 5,901.0 | 4,932.0 | 4,476.0 | 4,305.0 | 4,952.0 | 3,168.0 | 3,345.0 | 3,294.0 |
| Net margin | 30.5% | 30.4% | 30.8% | 30.3% | 36.4% | 25.8% | 29.3% | 29.7% |
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| Basic EPS [+] | $38.76 | $32.13 | $28.69 | $26.86 | $30.54 | $19.27 | $20.10 | $19.58 |
| Growth | 20.6% | 12.0% | 6.8% | -12.1% | 58.5% | -4.2% | 2.7% | 12.9% |
| Diluted EPS [+] | $38.22 | $31.85 | $28.43 | $26.58 | $30.12 | $19.02 | $19.79 | $19.25 |
| Growth | 20.0% | 12.1% | 6.9% | -11.7% | 58.4% | -3.9% | 2.8% | 13.4% |
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| Dividends per share [+] | $16.73 | $14.72 | $13.43 | $12.28 | $10.25 | $9.16 | $8.72 | $7.72 |
| Growth | 13.6% | 9.6% | 9.4% | 19.8% | 11.9% | 5.0% | 13.0% | 14.9% |
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| Shares outstanding (basic) [+] | 152.2 | 153.5 | 156.0 | 160.3 | 162.2 | 164.4 | 166.4 | 168.2 |
| Growth | -0.8% | -1.6% | -2.7% | -1.1% | -1.4% | -1.2% | -1.1% | -1.2% |
| Shares outstanding (diluted) [+] | 154.4 | 154.8 | 157.5 | 161.9 | 164.4 | 166.6 | 169.0 | 171.1 |
| Growth | -0.3% | -1.7% | -2.8% | -1.5% | -1.3% | -1.5% | -1.2% | -1.6% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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