| USD ($) $ in Millions, shares in Millions | LTM | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|---|
Revenue | |||
Total revenue | $ 27,299 | $ 24,216 | $ 20,407 |
Expense | |||
Employee compensation and benefits | 9,440 | 8,446 | 6,546 |
Distribution and servicing costs | 2,751 | 2,460 | 2,171 |
Direct fund expense | 1,958 | 1,767 | 1,464 |
Sub-advisory and other | 278 | 233 | 140 |
Total sales, asset and account expense | 4,987 | 4,460 | 3,775 |
General and administration expense | 2,725 | 2,731 | 2,221 |
Change in fair value of contingent consideration | - | 720 | - |
Restructuring Charge | 0 | 39 | 0 |
Amortization and impairment of intangible assets | 1,074 | 775 | 291 |
Total expense | 18,408 | 17,171 | 12,833 |
Operating income | 8,891 | 7,045 | 7,574 |
Nonoperating income (expense) | |||
Net gain (loss) on investments | 381 | 634 | 492 |
Interest and dividend income | 436 | 554 | 767 |
Interest expense | (543) | (614) | (538) |
Total nonoperating income (expense) | 274 | 574 | 721 |
Income before income taxes | 9,165 | 7,619 | 8,295 |
Income tax expense | 2,035 | 1,677 | 1,783 |
Net income | 7,130 | 5,942 | 6,512 |
Net income (loss) attributable to noncontrolling interests | - | - | 143 |
Net income attributable to BlackRock, Inc. | $ 6,576 | $ 5,553 | $ 6,369 |
Earnings per share attributable to BlackRock, Inc. common stockholders: | |||
Basic | $ 42.38 | $ 35.83 | $ 42.45 |
Diluted | $ 41.73 | $ 35.31 | $ 42.01 |
Weighted-average common shares outstanding: | |||
Basic | 155.2 | 155 | 150 |
Diluted (including Subco Units) | 164.8 | 160.9 | 151.6 |