BlackRock Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-	6,369	5,502	5,178	5,901
Depreciation & Amortization	-	529	427	418	415
Loss (Gain) From Sale of Assets	-	-269	-380	400	-302
Asset Writedown & Restructuring Costs	-	50	-	-	-
Loss (Gain) From Sale of Investments	-	-126	-	-268	-165
Loss (Gain) on Equity Investments	-	16	-329	21	-231
Stock-Based Compensation	-	753	630	708	734
Other Operating Activities	-	-2,542	-1,339	-604	-2,066
Change in Accounts Receivable	-	-443	-586	416	-322
Change in Accounts Payable	-	259	-26	-151	342
Change in Other Net Operating Assets	-	302	194	-1,358	315
Operating Cash Flow	-	4,956	4,165	4,956	4,944
Operating Cash Flow Growth	-	18.99%	-15.96%	0.24%	32.09%
Capital Expenditures	-	-255	-344	-533	-341
Cash Acquisitions	-	-2,936	-189	-	-1,106
Investment in Securities	-	187	-426	-597	-490
Investing Cash Flow	-	-3,004	-959	-1,130	-1,937
Long-Term Debt Issued	-	5,474	1,238	-	1,023
Long-Term Debt Repaid	-	-1,058	-59	-776	-750
Net Debt Issued (Repaid)	-	4,416	1,179	-776	273
Issuance of Common Stock	-	464	95	11	-
Repurchase of Common Stock	-	-1,930	-1,884	-2,332	-1,485
Common Dividends Paid	-	-3,101	-3,035	-2,990	-2,547
Dividends Paid	-	-3,101	-3,035	-2,990	-2,547
Other Financing Activities	-	2,387	1,653	645	1,472
Financing Cash Flow	-	2,236	-1,992	-5,442	-2,287
Foreign Exchange Rate Adjustments	-	-162	106	-291	-61
Net Cash Flow	-	4,026	1,320	-1,907	659
Free Cash Flow	-	4,701	3,821	4,423	4,603
Free Cash Flow Growth	-	23.03%	-13.61%	-3.91%	29.70%
Free Cash Flow Margin	-	23.04%	21.39%	24.75%	23.76%
Free Cash Flow Per Share	-	31.01	25.35	29.02	29.81
Cash Interest Paid	-	289	200	177	189
Cash Income Tax Paid	-	1,699	1,392	1,067	2,720
Levered Free Cash Flow	-	6,005	4,176	3,940	5,952
Unlevered Free Cash Flow	-	6,341	4,358	4,072	6,081
Change in Working Capital	-	176	-346	-897	658

Source: S&P Global Market Intelligence. Standard template. Financial Sources.