Cover	12 Months Ended
Cover	Dec. 31, 2023
Document Information [Line Items]
Document Type	DEF 14A
Amendment Flag	false
Entity Information [Line Items]
Entity Registrant Name	BLACKROCK, INC.
Entity Central Index Key	0001364742

Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

As required by Item 402(v) of Regulation

S-K,

we are providing the following information regarding the relationship between executive “compensation actually paid” (as defined by SEC rules) and certain aspects of our financial performance for each of the last three completed fiscal years. In determining the “compensation actually paid” to our NEOs, we are required to include various adjustments to amounts that have been reported in the Summary Compensation Table for 2023 and in previous years, as the SEC’s valuation methods for this section differ from those required in the Summary Compensation Table. The table below summarizes compensation values both reported in our Summary Compensation Table for 2023 and in previous years, as well as the adjusted values required in this section for the 2020, 2021, 2022 and 2023 calendar years.



									Value of Initial Fixed $100 Investment Based on:

Year	Summary Compensation Table Total for CEO (1)		Compensation Actually Paid to CEO (2)		Average Summary Compensation Table Total for Non-CEO NEOs (1)		Average Compensation Actually Paid to Non-CEO NEOs (2)		Total Shareholder Return (3)		Peer Group Total Shareholder Return (4)		Net Income ($ millions) (5)		Operating Margin, as Adjusted (6)
2023		$26,939,474		$26,855,065		$15,627,388		$20,027,946		$178.70		$168.44		$5,502		41.7%
2022		$32,726,109		($5,793,787)		$13,782,910		($12,461,284)		$151.62		$128.15		$5,178		42.8%
2021		$32,587,335		$65,321,174		$14,814,344		$39,235,001		$190.47		$171.06		$5,901		46.8%
2020		$27,356,432		$56,852,871		$12,121,020		$36,172,170		$147.21		$115.88		$4,932		46.0%

(1)	Reflects compensation amounts reported in the Summary Compensation Table for Mr. Fink, who served as our CEO for the respective years shown. Reflects average compensation amounts reported in the Summary Compensation Table for the following non-CEO NEOs for the fiscal years noted below:

•

2023: Messrs. Kapito, Goldstein, Wiedman, Small and Shedlin.

•

2022: Messrs. Kapito, Goldstein, Kushel and Shedlin.

•

2021: Messrs. Kapito, Goldstein, Kushel and Shedlin.

•

2020: Messrs. Kapito, Goldstein, Shedlin and Wiedman.

(2)

Dollar amounts reflect “compensation actually paid” for our CEO and average “compensation actually paid” for our

non-CEO

NEOs for each of the 2023, 2022, 2021 and 2020 fiscal years. In determining the “compensation actually paid” to our NEOs, we are required by SEC rules to include various adjustments to amounts that have been reported in the Summary Compensation Table for 2023 and in previous years, as the SEC’s valuation methods for this section differ from those required in the Summary Compensation Table. Because none of our NEOs participated in any Company-sponsored defined benefit pension program in the

covered years, we have not included any adjustments with respect to service cost or prior service cost for any pension plans. These amounts do not reflect the

year-end

executive pay decisions made by the MDCC as detailed in the “

NEO Total Annual Compensation Summary

” on page 58. For information regarding the decisions made by our MDCC in regard to our NEO’s compensation for each fiscal year, please see the Compensation Discussion and Analysis sections of the proxy statements reporting pay for the fiscal years covered in the table above, including the discussion beginning on page 54 of this Proxy Statement.

CEO Summary Compensation Table Total Compensation to Compensation Actually Paid Reconciliation



Year	2020		2021		2022		2023
CEO		Mr. Fink		Mr. Fink		Mr. Fink		Mr. Fink
Summary Compensation Table Total Compensation ($)		27,356,432		32,587,335		32,726,109		26,939,474
Less: Equity Award Values Reported in Summary Compensation Table for the Covered Year ($)		(15,999,930)		(18,849,371)		(23,250,554)		(16,449,974)
Plus: Year-End Fair Value for Outstanding Unvested Equity Awards Granted in the Covered Year ($)		23,542,782		29,527,964		10,821,969		15,241,152
Plus/Less: Change in Fair Value as of Year-End of Outstanding Unvested Equity Awards from Prior Years ($)		19,210,242		20,751,886		(22,966,972)		(1,211,612)
Plus/Less: Change in Fair Value as of the Vesting Date of Equity Awards from Prior Years that Vested in the Covered Year ($)		1,149,414		(635,548)		(4,072,502)		1,577,082
Plus: Fair Value as of the Vesting Date of Equity Awards Granted and Vested in the Same Covered Year ($)		—		—		—		—
Less: Fair Value of Equity Awards Forfeited during the Covered Year ($)		—		—		—		—
Plus: Value of Dividends Accrued on Equity Awards in the Covered Year not Otherwise Reflected in the Summary Compensation Table Total Compensation ($)		1,593,931		1,938,907		948,163		758,942
Compensation Actually Paid to CEO ($)		56,852,871		65,321,174		(5,793,787)		26,855,065

Average

Non-CEO

NEO Summary Compensation Table Total Compensation to Average Compensation Actually Paid Reconciliation



Year	2020 Average		2021 Average		2022 Average		2023 Average
Non-CEO NEOs		See note (1) above for NEO details
Average Summary Compensation Table Total Compensation ($)		12,121,020		14,814,344		13,782,910		15,627,388
Less: Average Equity Award Values Reported in Summary Compensation Table for the Covered Year ($)		(7,137,300)		(8,646,287)		(10,018,757)		(11,741,131)
Plus: Average Year-End Fair Value for Outstanding Unvested Equity Awards Granted in the Covered Year ($)		10,462,842		13,191,839		5,372,696		14,044,991
Plus/Less: Average Change in Fair Value as of Year-End of Outstanding Unvested Equity Awards from Prior Years ($)		19,724,323		19,333,261		(16,643,676)		950,007
Plus/Less: Average Change in Fair Value as of the Vesting Date of Equity Awards from Prior Years that Vested in the Covered Year ($)		402,384		(231,411)		(5,388,671)		835,730
Plus: Average Fair Value as of the Vesting Date of Equity Awards Granted and Vested in the Same Covered Year ($)		—		—		—		—
Less: Average Fair Value of Equity Awards Forfeited during the Covered Year ($)		—		—		—		—
Plus: Average Value of Dividends Accrued on Equity Awards in the Covered Year not Otherwise Reflected in the Average Summary Compensation Table Total Compensation ($)		598,901		773,255		434,214		310,960
Average Compensation Actually Paid to Non-CEO NEOs ($)		36,172,170		39,235,001		(12,461,284)		20,027,946

Equity Award Valuation Assumptions: BPIP award grant date fair values are calculated using the stock price as of the grant date assuming target performance. Adjustments to these values have been made using the stock price and projected vesting assumptions as of each subsequent measurement date, assuming actual performance relative to the applicable performance targets through the applicable measurement date and target performance for years in the performance period beyond the applicable measurement date

(based on the award determination matrix for the BPIP award granted in the January following the applicable measurement date). RSU values represent fair values which are calculated using the stock price as of each measurement date. Stock options represent performance-based option awards with vesting contingent on the NEOs’ continued service and BlackRock’s achievement of a stock price hurdle and positive Organic Revenue growth. Stock option fair values for measurement dates prior to when the price hurdle was achieved are calculated by a Monte Carlo simulation model with an embedded binomial lattice model, which accounts for the risk of

non-achievement.

For stock option fair values occurring after the achievement of the price hurdle, the values are calculated by a binomial lattice model only. The stock option binomial lattice modelling uses a consistent set of valuation inputs (including BlackRock stock price, volatility, and dividend rates, market risk free rate, and the options’ strike price and term) which have been updated as of each measurement date, as applicable.

(3)

Represents the cumulative total shareholder return

(“TSR”)

f BlackRock for the periods ending on December 31, 2023, 2022, 2021 and 2020, respectively, based on an initial fixed investment of $100 in BlackRock common stock on December 31, 2019. For 2023, represents the four-year TSR (2020-2023), for 2022, represents the

three-year

TSR (2020-2022), for 2021, represents the two-year TSR (2020-2021) and for 2020 represents the

one-year

TSR (2020).

(4)

Represents the cumulative TSR of the S&P U.S. BMI Asset Management & Custody Banks Index (as reported in BlackRock’s Annual Report on Form

10-K)

for each of the periods ending on December 31, 2023, 2022, 2021 and 2020, respectively, based on an initial fixed investment of $100 in BlackRock common stock on December 31, 2019. For 2023, represents the four-year TSR (2020-2023), for 2022, represents the three-year TSR (2020-2022), for 2021, represents the two-year TSR (2020-2021) and for 2020 represents the one-year TSR (2020).

(5)	Reflects n et income attributable to BlackRock, Inc. in the Company’s Consolidated Statements of Income included in BlackRock’s Annual Reports on Form 10-K for each of the fiscal years ended December 31, 2023, 2022, 2021 and 2020, respectively.

(6)	BlackRock’s Company-Selected Measure is Operating Margin, as adjusted. For reconciliation with GAAP for 2021-2023, please see Annex A. For a reconciliation with GAAP for 2020, please see page 37 of BlackRock’s Annual Report on Form 10-K for the year ended December 31, 2022.

Company Selected Measure Name

Operating Margin, as adjusted

Named Executive Officers, Footnote

2023: Messrs. Kapito, Goldstein, Wiedman, Small and Shedlin.

2022: Messrs. Kapito, Goldstein, Kushel and Shedlin.

2021: Messrs. Kapito, Goldstein, Kushel and Shedlin.

2020: Messrs. Kapito, Goldstein, Shedlin and Wiedman.

Peer Group Issuers, Footnote

Represents the cumulative TSR of the S&P U.S. BMI Asset Management & Custody Banks Index (as reported in BlackRock’s Annual Report on Form

10-K)

PEO Total Compensation Amount

$ 26,939,474

$ 32,726,109

$ 32,587,335

$ 27,356,432

PEO Actually Paid Compensation Amount

$ 26,855,065

(5,793,787)

65,321,174

56,852,871

Adjustment To PEO Compensation, Footnote

CEO Summary Compensation Table Total Compensation to Compensation Actually Paid Reconciliation



Year	2020		2021		2022		2023
CEO		Mr. Fink		Mr. Fink		Mr. Fink		Mr. Fink
Summary Compensation Table Total Compensation ($)		27,356,432		32,587,335		32,726,109		26,939,474
Less: Equity Award Values Reported in Summary Compensation Table for the Covered Year ($)		(15,999,930)		(18,849,371)		(23,250,554)		(16,449,974)
Plus: Year-End Fair Value for Outstanding Unvested Equity Awards Granted in the Covered Year ($)		23,542,782		29,527,964		10,821,969		15,241,152
Plus/Less: Change in Fair Value as of Year-End of Outstanding Unvested Equity Awards from Prior Years ($)		19,210,242		20,751,886		(22,966,972)		(1,211,612)
Plus/Less: Change in Fair Value as of the Vesting Date of Equity Awards from Prior Years that Vested in the Covered Year ($)		1,149,414		(635,548)		(4,072,502)		1,577,082
Plus: Fair Value as of the Vesting Date of Equity Awards Granted and Vested in the Same Covered Year ($)		—		—		—		—
Less: Fair Value of Equity Awards Forfeited during the Covered Year ($)		—		—		—		—
Plus: Value of Dividends Accrued on Equity Awards in the Covered Year not Otherwise Reflected in the Summary Compensation Table Total Compensation ($)		1,593,931		1,938,907		948,163		758,942
Compensation Actually Paid to CEO ($)		56,852,871		65,321,174		(5,793,787)		26,855,065

Non-PEO NEO Average Total Compensation Amount

$ 15,627,388

13,782,910

14,814,344

12,121,020

Non-PEO NEO Average Compensation Actually Paid Amount

$ 20,027,946

(12,461,284)

39,235,001

36,172,170

Adjustment to Non-PEO NEO Compensation Footnote

Average

Non-CEO

NEO Summary Compensation Table Total Compensation to Average Compensation Actually Paid Reconciliation



Year	2020 Average		2021 Average		2022 Average		2023 Average
Non-CEO NEOs		See note (1) above for NEO details
Average Summary Compensation Table Total Compensation ($)		12,121,020		14,814,344		13,782,910		15,627,388
Less: Average Equity Award Values Reported in Summary Compensation Table for the Covered Year ($)		(7,137,300)		(8,646,287)		(10,018,757)		(11,741,131)
Plus: Average Year-End Fair Value for Outstanding Unvested Equity Awards Granted in the Covered Year ($)		10,462,842		13,191,839		5,372,696		14,044,991
Plus/Less: Average Change in Fair Value as of Year-End of Outstanding Unvested Equity Awards from Prior Years ($)		19,724,323		19,333,261		(16,643,676)		950,007
Plus/Less: Average Change in Fair Value as of the Vesting Date of Equity Awards from Prior Years that Vested in the Covered Year ($)		402,384		(231,411)		(5,388,671)		835,730
Plus: Average Fair Value as of the Vesting Date of Equity Awards Granted and Vested in the Same Covered Year ($)		—		—		—		—
Less: Average Fair Value of Equity Awards Forfeited during the Covered Year ($)		—		—		—		—
Plus: Average Value of Dividends Accrued on Equity Awards in the Covered Year not Otherwise Reflected in the Average Summary Compensation Table Total Compensation ($)		598,901		773,255		434,214		310,960
Average Compensation Actually Paid to Non-CEO NEOs ($)		36,172,170		39,235,001		(12,461,284)		20,027,946

Compensation Actually Paid vs. Total Shareholder Return

The following chart shows that the “compensation actually paid” to our CEO and average “compensation actually paid” to our other NEOs for each of the 2020, 2021, 2022 and 2023 fiscal years align to trends with BlackRock’s and our peer group’s (S&P U.S. BMI Asset Management & Custody Banks Index) TSR over the same period. BlackRock maintained a relatively consistent TSR premium relative to our peer group.

Compensation Actually Paid vs. TSR

Compensation Actually Paid vs. Net Income

ncome attributable to BlackRock, Inc. over the same period.

Compensation Actually Paid vs. Net Income

(1)

Compensation Actually Paid vs. Company Selected Measure

The following chart shows that “compensation actually paid” to our CEO and average “

compensation

actually

paid

” to our other NEOs for each of the 2020, 2021, 2022 and 2023 fiscal years align to trends with BlackRock’s Operating

Margin

, as adjusted, over the same period.

Compensation Actually Paid vs. Operating Margin, as adjusted

(2)

Total Shareholder Return Vs Peer Group

Compensation Actually Paid vs. TSR

Tabular List, Table

List of Most Important Measures

The following table presents the most important financial performance measures that we use to link “compensation actually paid” (as defined by SEC rules) to our NEOs for 2023 to our performance. Performance outcomes for each measure are generally assessed in the context of external market conditions, and may be considered relative to industry performance or over variable time horizons. These measures are not ranked.

Measure

Operating Margin, as adjusted

(1)

Operating Income, as adjusted

(1)

Net New Base Fee Growth

Net New Business

Organic Revenue Growth

(2)

Diluted EPS, as adjusted

(1)

Total Shareholder Return

(3)

(1)	For reconciliation with GAAP, please see Annex A.

(2)

Organic Revenue growth is a measure of the estimated annual revenue impact of BlackRock’s total net new business in a given year, including net new technology services revenue, excluding the effect of market appreciation/(depreciation) and foreign exchange. Organic Revenue is not directly correlated with the actual revenue earned in a given year.

(3)	We assess performance based in part on BlackRock’s 1-year, 3-year and 5-year Total Shareholder Return. Total Shareholder Return is defined as the change in stock price plus reinvested dividends, measured through December 31, 2023, then annualized.