v3.26.1
Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2026
HPS Investment Partners [Member]  
Business Acquisition [Line Items]  
Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for HPS and the fair values of the assets acquired and liabilities assumed recognized at the acquisition date:

(in millions)

 

Fair Value Estimate

 

Investments

 

$

1,972

 

Finite-lived intangible assets:

 

 

 

Management contracts(1)

 

 

2,660

 

Investor relationships(1)

 

 

965

 

Indefinite-lived intangible assets - management contracts(2)

 

 

3,000

 

Goodwill

 

 

6,841

 

Operating lease right-of-use ("ROU") assets

 

 

178

 

Other assets

 

 

644

 

Accrued compensation and benefits

 

 

(262

)

Accounts payable and accrued liabilities

 

 

(162

)

Operating lease liabilities

 

 

(150

)

Deferred income tax liabilities

 

 

(1,585

)

Other liabilities assumed(3)

 

 

(1,880

)

Total consideration, net of cash acquired

 

$

12,221

 

 

 

 

 

Summary of consideration, net of cash acquired:

 

 

 

Closing consideration at fair value - Subco Units(4)

 

$

8,452

 

Cash acquired

 

 

(244

)

Deferred consideration at fair value - Subco Units(4)

 

 

3,400

 

Debt repayment

 

 

613

 

Total consideration, net of cash acquired

 

$

12,221

 

 

(1)
The fair value for finite-lived management contracts and investor relationships was determined using the excess earnings method (Level 3 inputs), have weighted-average estimated useful lives of approximately 8 years and 12 years, respectively, and are amortized based on the straight-line method.
(2)
The fair value for indefinite-lived management contracts was determined using the excess earnings method (Level 3 inputs).
(3)
Other liabilities assumed primarily included deferred carried interest.
The fair value for the closing consideration was determined based on approximately 8.5 million of Subco Units, which were delivered to former equityholders of HPS. The fair value of the deferred consideration was determined based on approximately 2.8 million to 4.4 million of Subco Units, and is subject to the achievement of certain post-closing conditions and financial performance milestones.
Preqin Holding Limited [Member]  
Business Acquisition [Line Items]  
Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for Preqin and the fair values of the assets acquired and liabilities assumed recognized at the acquisition date:

(in millions)

 

Fair Value Estimate

 

Finite-lived intangible assets:

 

 

 

Customer relationships(1)

 

$

1,050

 

Technology-related(2)

 

 

125

 

Trade name

 

 

7

 

Goodwill

 

 

2,377

 

Other assets

 

 

59

 

Deferred revenue

 

 

(104

)

Deferred income tax liabilities

 

 

(298

)

Other liabilities assumed

 

 

(93

)

Total consideration, net of cash acquired

 

$

3,123

 

 

 

 

 

Summary of consideration, net of cash acquired:

 

 

 

Cash paid

 

$

3,219

 

Cash acquired

 

 

(96

)

Total consideration, net of cash acquired

 

$

3,123

 

 

(1)
The fair value was determined using an income approach (Level 3 inputs), has a weighted-average estimated useful life of approximately 8 years and is amortized based on its expected pattern of economic benefit.
(2)
The fair value was determined using a replacement cost approach (Level 3 inputs), has a weighted-average estimated useful life of approximately 5 years and is amortized based on the straight-line method.
Global Infrastructure Management, LLC [Member]  
Business Acquisition [Line Items]  
Summary of Business Acquisition, Pro Forma Information Combined Results of Operations

The following unaudited pro forma information presents combined results of operations of the Company as if the HPS Transaction had occurred on January 1, 2024. The unaudited pro forma financial information is not indicative of the actual results of operations that would have been achieved nor is it indicative of future results of operations of the combined Company. The pro forma combined provision for income taxes may not represent the amount that would have resulted had BlackRock and HPS filed consolidated tax returns during the years presented.

 

 

Three Months Ended

 

 

(Unaudited) (in millions)

 

March 31, 2025

 

 

Total revenue

 

$

5,685

 

 

Net income attributable to BlackRock, Inc.

 

$

1,409