BlackRock (BLK) 10-Q 7 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	Apr. 30, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Registrant Name	BlackRock, Inc.
Entity Central Index Key	0001364742
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		148,599,981
Entity Current Reporting Status	Yes
Entity File Number	001-33099
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0174431
Entity Address, Address Line One	50 Hudson Yards
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	810-5800
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Common Stock, $.01 Par Value [Member]
Document Information [Line Items]
Trading Symbol	BLK
Title of 12(b) Security	Common Stock, $.01 par value
Security Exchange Name	NYSE
1.250% Notes due 2025 [Member]
Document Information [Line Items]
Trading Symbol	BLK25
Title of 12(b) Security	1.250% Notes due 2025
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	[1]	$ 9,374	$ 8,736
Accounts receivable		3,961	3,916
Investments	[1]	10,337	9,740
Separate account assets		55,376	56,098
Separate account collateral held under securities lending agreements		3,998	4,558
Property and equipment (net of accumulated depreciation and amortization of $1,499 and $1,439 at March 31, 2024 and December 31, 2023, respectively)		1,106	1,112
Intangible assets (net of accumulated amortization of $656 and $618 at March 31, 2024 and December 31, 2023 respectively)		18,219	18,258
Goodwill		15,522	15,524
Operating lease right-of-use assets		1,410	1,421
Other assets	[1]	4,685	3,848
Total assets		123,988	123,211
Liabilities
Accrued compensation and benefits		1,061	2,393
Accounts payable and accrued liabilities		1,445	1,240
Borrowings		9,860	7,918
Separate account liabilities		55,376	56,098
Separate account collateral liabilities under securities lending agreements		3,998	4,558
Deferred income tax liabilities		3,456	3,506
Operating lease liabilities		1,772	1,784
Other liabilities	[1]	5,275	4,474
Total liabilities		82,243	81,971
Commitments and contingencies (Note 15)
Temporary equity
Redeemable noncontrolling interests		1,850	1,740
Permanent equity
Shares authorized: 500,000,000 at March 31, 2024 and December 31, 2023; Shares issued: 172,075,373 at March 31, 2024 and December 31, 2023; Shares outstanding: 148,759,510 and 148,500,074 at March 31, 2024 and December 31, 2023, respectively		2	2
Additional paid-in capital		19,617	19,833
Retained earnings		33,121	32,343
Accumulated other comprehensive loss		(933)	(840)
Treasury stock, common, at cost (23,315,863 and 23,575,299 shares held at March 31, 2024 and December 31, 2023, respectively)		(12,082)	(11,991)
Total BlackRock, Inc. stockholders’ equity		39,725	39,347
Nonredeemable noncontrolling interests		170	153
Total permanent equity		39,895	39,500
Total liabilities, temporary equity and permanent equity		$ 123,988	$ 123,211
[1] At March 31, 2024, cash and cash equivalents, investments, other assets and other liabilities include $ 277 million , $ 5.3 billion , $ 82 million , and $ 2.1 billion , respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2023, cash and cash equivalents, investments, other assets and other liabilities include $ 234 million , $ 5.0 billion , $ 83 million , and $ 2.2 billion , respectively, related to consolidated VIEs.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Property and equipment, accumulated depreciation		$ 1,499	$ 1,439
Intangible assets, accumulated amortization		$ 656	$ 618
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized		500,000,000	500,000,000
Common stock, shares issued		172,075,373	172,075,373
Common stock, shares outstanding		148,759,510	148,500,074
Treasury Stock, Shares		23,315,863	23,575,299
Cash and cash equivalents	[1]	$ 9,374	$ 8,736
Investments	[1]	10,337	9,740
Other assets	[1]	4,685	3,848
Other liabilities	[1]	5,275	4,474
Consolidated Variable Interest Entities [Member]
Cash and cash equivalents		277	234
Investments		5,291	5,020
Other assets		82	83
Other liabilities		$ 2,114	$ 2,233
[1] At March 31, 2024, cash and cash equivalents, investments, other assets and other liabilities include $ 277 million , $ 5.3 billion , $ 82 million , and $ 2.1 billion , respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2023, cash and cash equivalents, investments, other assets and other liabilities include $ 234 million , $ 5.0 billion , $ 83 million , and $ 2.2 billion , respectively, related to consolidated VIEs.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue
Total revenue	$ 4,728	$ 4,243
Expense
Employee compensation and benefits	1,580	1,427
Total sales, asset and account expense	888	846
Distribution and servicing costs	518	505
Direct fund expense	338	315
Sub-advisory and other	32	26
General and administration expense	529	495
Amortization of intangible assets	38	37
Total expense	3,035	2,805
Operating income	1,693	1,438
Nonoperating income (expense)
Net gain (loss) on investments	171	89
Interest and dividend income	141	86
Interest expense	(92)	(59)
Total nonoperating income (expense)	220	116
Income before income taxes	1,913	1,554
Income tax expense	290	385
Net income	1,623	1,169
Net income (loss) attributable to noncontrolling interests	50	12
Net income attributable to BlackRock, Inc.	$ 1,573	$ 1,157
Earnings per share attributable to BlackRock, Inc. common stockholders:
Basic	$ 10.58	$ 7.72
Diluted	$ 10.48	$ 7.64
Weighted-average common shares outstanding:
Basic	148,689,172	149,909,343
Diluted	150,125,182	151,349,829
Investment Advisory, Administration Fees and Securities Lending Revenue [Member]
Revenue
Total revenue	$ 3,778	$ 3,502
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Related Parties [Member]
Revenue
Total revenue	2,847	2,611
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Other Third Parties [Member]
Revenue
Total revenue	931	891
Investment Advisory Performance Fees [Member]
Revenue
Total revenue	204	55
Technology Services Revenue [Member]
Revenue
Total revenue	377	340
Distribution Fees [Member]
Revenue
Total revenue	310	319
Advisory and Other Revenue [Member]
Revenue
Total revenue	$ 59	$ 27

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 1,623	$ 1,169
Other comprehensive income (loss):
Foreign currency translation adjustments	(93)	126	[1]
Comprehensive income (loss)	1,530	1,295
Less: Comprehensive income (loss) attributable to noncontrolling interests	50	12
Comprehensive income attributable to BlackRock, Inc.	$ 1,480	$ 1,283
[1] Amount for the three months ended March 31, 2024 includes a gain from a net investment hedge of $ 13 million (net of tax expense of $ 4 million). Amount for the three months ended March 31, 2023 includes a loss from a net investment hedge of $ 10 million (net of tax benefit of $ 3 million).

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement Of Income And Comprehensive Income [Abstract]
Gain (loss) from net investment hedging, net of tax	$ 13	$ (10)
Gain (loss) from net investment hedging, tax (expense) benefit	$ (4)	$ 3

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Millions	Total	Additional Paid-in Capital [Member]		Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock, Common [Member]	Total BlackRock Stockholders' Equity [Member]	Nonredeemable Noncontrolling Interests [Member]	Redeemable Noncontrolling Interests / Temporary Equity [Member]
Balance at Dec. 31, 2022	$ 37,876	$ 19,774	[1]	$ 29,876	$ (1,101)	$ (10,805)	$ 37,744	$ 132	$ 909
Net income	1,152	0	[1]	1,157	0	0	1,157	(5)	17
Dividends declared	(796)	0	[1]	(796)	0	0	(796)	0	0
Stock-based compensation	165	165	[1]	0	0	0	165	0	0
Issuance of common shares related to employee stock transactions	37	(510)	[1]	0	0	547	37	0	0
Employee tax withholdings related to employee stock transactions	(346)	0	[1]	0	0	(346)	(346)	0	0
Shares repurchased	(375)	0	[1]	0	0	(375)	(375)	0	0
Subscriptions (redemptions/distributions) — noncontrolling interest holders	(9)	0	[1]	0	0	0	0	(9)	314
Net consolidations (deconsolidations) of sponsored investment funds		0	[1]	0	0	0	0	0	(5)
Other comprehensive income (loss)	126	0	[1]	0	126	0	126	0	0
Balance at Mar. 31, 2023	37,830	19,429	[1]	30,237	(975)	(10,979)	37,712	118	1,235
Balance at Dec. 31, 2023	39,500	19,835	[2]	32,343	(840)	(11,991)	39,347	153	1,740
Net income	1,566			1,573			1,573	(7)	57
Dividends declared	(795)			(795)			(795)
Stock-based compensation	176	176					176
Issuance of common shares related to employee stock transactions	151	(392)				543	151
Employee tax withholdings related to employee stock transactions	(259)					(259)	(259)
Shares repurchased	(375)					(375)	(375)
Subscriptions (redemptions/distributions) — noncontrolling interest holders	24							24	406
Net consolidations (deconsolidations) of sponsored investment funds									(353)
Other comprehensive income (loss)	(93)				(93)		(93)
Balance at Mar. 31, 2024	$ 39,895	$ 19,619		$ 33,121	$ (933)	$ (12,082)	$ 39,725	$ 170	$ 1,850
[1] Amounts include $ 2 million of common stock at both March 31, 2023 and December 31, 2022 . Amounts include $ 2 million of common stock at both March 31, 2024 and December 31, 2023 .

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Changes in Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Additional Paid-in Capital, value of stock	$ 39,895	$ 37,830	$ 39,500	$ 37,876
Common Stock [Member]
Additional Paid-in Capital, value of stock	$ 2	$ 2	$ 2	$ 2
Dividends declared, amount per share	$ 5.1	$ 5

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities
Net income	$ 1,623	$ 1,169
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and amortization	111	106
Noncash lease expense	32	43
Stock-based compensation	176	165
Deferred income tax expense (benefit)	(41)	53
Other investment gains	(24)	0
Net (gains) losses within CIPs	(104)	(88)
Net (purchases) proceeds within CIPs	(989)	(477)
(Earnings) losses from equity method investees	(48)	(40)
Distributions of earnings from equity method investees	8	8
Changes in operating assets and liabilities:
Accounts receivable	(73)	(270)
Investments, trading	(9)	2
Other assets	(796)	(696)
Accrued compensation and benefits	(1,339)	(1,243)
Accounts payable and accrued liabilities	196	(91)
Other liabilities	869	965
Net cash provided by/(used in) operating activities	(408)	(394)
Investing activities
Purchases of investments	(324)	(318)
Proceeds from sales and maturities of investments	210	142
Distributions of capital from equity method investees	162	8
Net consolidations (deconsolidations) of sponsored investment funds	(6)	27
Purchases of property and equipment	(64)	(81)
Net cash provided by/(used in) investing activities	(22)	(222)
Financing activities
Repayments of long-term borrowings	(1,000)	0
Proceeds from long-term borrowings	2,979	0
Cash dividends paid	(795)	(796)
Proceeds from stock options exercised	144	27
Repurchases of common stock	(634)	(721)
Net proceeds from (repayments of) borrowings by CIPs	(14)	(19)
Net subscriptions received/(redemptions/distributions paid) from noncontrolling interest holders	430	305
Other financing activities	(15)	10
Net cash provided by/(used in) financing activities	1,095	(1,194)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(27)	38
Net increase/(decrease) in cash, cash equivalents and restricted cash	638	(1,772)
Cash, cash equivalents and restricted cash, beginning of period	8,753	7,433
Cash, cash equivalents and restricted cash, end of period	9,391	5,661
Supplemental schedule of noncash investing and financing transactions:
Issuance of common stock	392	510
Increase (decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds	$ (353)	$ (5)

Business Overview

Business Overview	3 Months Ended
	Mar. 31, 2024
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Business Overview	1 . Business Overview BlackRock, Inc. (together, with its subsidiaries, unless the context otherwise indicates, “BlackRock” or the “Company”) is a leading publicly traded investment management firm providing a broad range of investment management and technology services to institutional and retail clients worldwide. BlackRock’s diverse platform of alpha-seeking active, index and cash management investment strategies across asset classes enables the Company to offer choice and tailor investment and asset allocation solutions for clients. Product offerings include single- and multi-asset portfolios investing in equities, fixed income, alternatives and money market instruments. Products are offered directly and through intermediaries in a variety of vehicles, including open-end and closed-end mutual funds , iShares ® and BlackRock exchange-traded funds (“ETFs”), separate accounts, collective trust funds and other pooled investment vehicles. BlackRock also offers technology services, including the investment and risk management technology platform, Aladdin ® , Aladdin Wealth TM , eFront ® and Cachematrix ® , as well as advisory services and solutions to a broad base of institutional and wealth management clients.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Basis of Presentation These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the accounts of the Company and its controlled subsidiaries. Noncontrolling interests (“NCI”) on the condensed consolidated statements of financial condition represent the portion of consolidated sponsored investment products (“CIPs”) and a consolidated affiliate (collectively, “consolidated entities”) in which the Company does not have direct equity ownership. Intercompany balances and transactions have been eliminated upon consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates. Certain financial information that normally is included in annual financial statements, including certain financial statement footnotes, is not required for interim reporting purposes and has been condensed or omitted herein. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and footnotes related thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission ("SEC") on February 23, 2024 (“2023 Form 10-K”). The interim financial information at March 31, 2024 and for the three months ended March 31, 2024 and 2023 is unaudited. However, in the opinion of management, the interim information includes all normal recurring adjustments necessary for the fair presentation of the Company’s results for the periods presented. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year. Certain prior period presentations were reclassified to ensure comparability with current period classifications. Accounting Developments Segment Reporting. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires incremental disclosures about reportable segments but does not change the definition of a segment or the guidance for determining reportable segments. The new guidance requires disclosure of significant segment expenses that are (1) regularly provided to (or easily computed from information regularly provided to) the chief operating decision maker ("CODM") and (2) included in the reported measure of segment profit or loss. The new standard also requires companies to disclose the title and position of the individual (or the name of the committee) identified as the CODM, allows companies to disclose multiple measures of segment profit or loss if those measures are used to assess performance and allocate resources, and is applicable to companies with a single reportable segment. The requirements are effective for annual reporting periods beginning on January 1, 2024, and are required to be applied retrospectively. Early adoption is permitted. The Company does not expect the additional disclosure requirements under ASU 2023-07 to have a material impact on the consolidated financial statements. Income Tax Disclosure Requirements. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which enhances interim and annual income tax disclosures. The two primary enhancements disaggregate existing income tax disclosures related to the effective tax rate reconciliation and income taxes paid. The additional disclosure requirements under ASU 2023-09 are required to be applied prospectively and are effective for the Company on January 1, 2025. The Company does not expect the additional disclosure requirements under ASU 2023-09 to have a material impact on the consolidated financial statements. Fair Value Measurements Hierarchy of Fair Value Inputs. The Company uses a fair value hierarchy that prioritizes inputs to valuation approaches used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. Assets and liabilities measured and reported at fair value are classified and disclosed in one of the following categories: Level 1 Inputs: Quoted prices (unadjusted) in active markets for identical assets or liabilities at the reporting date. • Level 1 assets may include listed mutual funds, ETFs, listed equities, commodities and certain exchange-traded derivatives. Level 2 Inputs: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; quotes from pricing services or brokers for which the Company can determine that orderly transactions took place at the quoted price or that the inputs used to arrive at the price are observable; and inputs other than quoted prices that are observable, such as models or other valuation methodologies. • Level 2 assets may include debt securities, loans held within consolidated collateralized loan obligations (“CLOs”), short-term floating-rate notes, asset-backed securities, as well as over-the-counter derivatives, including interest rate swaps and foreign currency exchange contracts that have inputs to the valuations that generally can be corroborated by observable market data. Level 3 Inputs: Unobservable inputs for the valuation of the asset or liability, which may include nonbinding broker quotes. Level 3 assets include investments for which there is little, if any, market activity. These inputs require significant management judgment or estimation. • Level 3 assets may include direct private equity investments, including those held within CIPs, investments in CLOs, and loans held within consolidated CLOs and CIPs. • Level 3 liabilities may include borrowings of consolidated CLOs and contingent liabilities related to acquisitions valued based upon discounted cash flow analyses using unobservable market data, or other valuation techniques. Significance of Inputs. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. Valuation Approaches. The fair values of certain Level 3 assets and liabilities were determined using various valuation approaches as appropriate, including third-party pricing vendors, broker quotes and market and income approaches. A significant number of inputs used to value equity, debt securities, and loans held within CLOs and CIPs are sourced from third-party pricing vendors. Generally, prices obtained from pricing vendors are categorized as Level 1 inputs for identical securities traded in active markets and as Level 2 for other similar securities if the vendor uses observable inputs in determining the price. In addition, quotes obtained from brokers generally are nonbinding and categorized as Level 3 inputs. However, if the Company is able to determine that market participants have transacted for the asset in an orderly manner near the quoted price or if the Company can determine that the inputs used by the broker are observable, the quote is classified as a Level 2 input. Investments Measured at Net Asset Value. As a practical expedient, the Company uses net asset value (“NAV”) as the fair value for certain investments. The inputs to value these investments may include the Company’s capital accounts for its partnership interests in various alternative investments, including hedge funds, real assets and private equity funds, which may be adjusted by using the returns of certain market indices. The various partnerships are investment companies, which record their underlying investments at fair value based on fair value policies established by management of the underlying fund. Fair value policies at the underlying fund generally require the fund to utilize pricing/valuation information from third-party sources, including independent appraisals. However, in some instances, current valuation information for illiquid securities or securities in markets that are not active may not be available from any third-party source or fund management may conclude that the valuations that are available from third-party sources are not reliable. In these instances, fund management may perform model-based analytical valuations that could be used as an input to value these investments. Fair Value Assets and Liabilities of Consolidated CLO. The Company applies the fair value option provisions for eligible assets, including loans, held by a consolidated CLO. As the fair value of the financial assets of the consolidated CLO is more observable than the fair value of the borrowings of the consolidated CLO, the Company measures the fair value of the borrowings of the consolidated CLO equal to the fair value of the assets of the consolidated CLO less the fair value of the Company’s economic interest in the CLO. Derivatives and Hedging Activities . The Company does not use derivative financial instruments for trading or speculative purposes. The Company uses derivative financial instruments primarily for purposes of hedging exposures to fluctuations in foreign currency exchange rates of certain assets and liabilities, and market price and interest rate exposures with respect to its total portfolio of seed investments in sponsored investment products. Certain CIPs also utilize derivatives as a part of their investment strategies. In addition, the Company uses derivatives and makes investments to economically hedge market valuation changes on certain deferred cash compensation plans, for which the final value of the deferred amount distributed to employees in cash upon vesting is determined based on the returns of specified investment funds. The Company recognizes compensation expense for the appreciation (depreciation) of the deferred cash compensation liability in proportion to the vested amount of the award during a respective period, while the gain (loss) to economically hedge these plans is immediately recognized in nonoperating income (expense). See Note 4, Investments, and Note 8, Derivatives and Hedging , for further information on the Company’s investments and derivatives, respectively, used to economically hedge these deferred cash compensation plans. The Company records all derivative financial instruments as either assets or liabilities at fair value on a gross basis in the condensed consolidated statements of financial condition. Credit risks are managed through master netting and collateral support agreements. The amounts related to the right to reclaim or the obligation to return cash collateral may not be used to offset amounts due under the derivative instruments in the normal course of settlement. Therefore, such amounts are not offset against fair value amounts recognized for derivative instruments with the same counterparty and are included in other assets and other liabilities. Changes in the fair value of the Company’s derivative financial instruments are recognized in earnings and, where applicable, are offset by the corresponding gain or loss on the related foreign-denominated or hedged assets or liabilities, on the condensed consolidated statements of income. The Company may also use financial instruments designated as net investment hedges for accounting purposes to hedge net investments in international subsidiaries, the functional currency of which is not United States ("US") dollars. The gain or loss from revaluing net investment hedges at the spot rate is deferred and reported within accumulated other comprehensive income (loss) (“AOCI”) on the condensed consolidated statements of financial condition. The Company reassesses the effectiveness of its net investment hedge at least quarterly. Separate Account Assets and Liabilities . Separate account assets are maintained by BlackRock Life Limited, a wholly owned subsidiary of the Company, which is a registered life insurance company in the United Kingdom (“UK”), and represent segregated assets held for purposes of funding individual and group pension contracts. The life insurance company does not underwrite any insurance contracts that involve any insurance risk transfer from the insured to the life insurance company. The separate account assets primarily include equity securities, debt securities, money market funds and derivatives. The separate account assets are not subject to general claims of the creditors of BlackRock. These separate account assets and the related equal and offsetting liabilities are recorded as separate account assets and separate account liabilities on the condensed consolidated statements of financial condition. The net investment income attributable to separate account assets supporting individual and group pension contracts accrues directly to the contract owner and is not reported on the condensed consolidated statements of income. While BlackRock has no economic interest in these separate account assets and liabilities, BlackRock earns policy administration and management fees associated with these products, which are included in investment advisory, administration fees and securities lending revenue on the condensed consolidated statements of income. Separate Account Collateral Assets Held and Liabilities Under Securities Lending Agreements. The Company facilitates securities lending arrangements whereby securities held by separate accounts maintained by BlackRock Life Limited are lent to third parties under global master securities lending agreements. In exchange, the Company obtains either (1) the legal title, or (2) a first ranking priority security interest, in the collateral. The minimum collateral values generally range from approximately 102 % to 112 % of the value of the securities in order to reduce counterparty risk. The required collateral value is calculated on a daily basis. The global master securities lending agreements provide the Company the right to request additional collateral or, in the event of borrower default, the right to liquidate collateral. The securities lending transactions entered into by the Company are accompanied by an agreement that entitles the Company to request the borrower to return the securities at any time; therefore, these transactions are not reported as sales. In situations where the Company obtains the legal title to collateral under these securities lending arrangements, the Company records an asset on the condensed consolidated statements of financial condition in addition to an equal collateral liability for the obligation to return the collateral. Additionally, in situations where the Company obtains a first ranking priority security interest in the collateral, the Company does not have the ability to pledge or resell the collateral and therefore does not record the collateral on the condensed consolidated statements of financial condition. At March 31, 2024 and December 31, 2023 , the fair value of loaned securities held by separate accounts was approximately $ 8.3 billion and $ 9.3 billion, respectively, and the fair value of the collateral under these securities lending agreements was approximately $ 9.0 billion and $ 10.1 billion, respectively, of which approximately $ 4.0 billion as of March 31, 2024 and $ 4.6 billion as of December 31, 2023 was recognized on the condensed consolidated statements of financial condition. During the three months ended March 31, 2024 and 2023 , the Company had no t resold or repledged any of the collateral obtained under these arrangements. The securities lending revenue earned from lending securities held by the separate accounts is included in investment advisory, administration fees and securities lending revenue on the condensed consolidated statements of income .

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	3 Months Ended
	Mar. 31, 2024
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	3 . Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash and cash equivalents reported within the condensed consolidated statements of financial condition to the cash, cash equivalents, and restricted cash reported within the condensed consolidated statements of cash flows. March 31, December 31, (in millions) 2024 2023 Cash and cash equivalents $ 9,374 $ 8,736 Restricted cash included in other assets 17 17 Total cash, cash equivalents and restricted cash $ 9,391 $ 8,753

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Investments Debt And Equity Securities [Abstract]
Investments	4 . Investments A summary of the carrying value of total investments is as follows: March 31, December 31, (in millions) 2024 2023 Debt securities: Trading securities (including $ 1,635 and $ 1,829 held by CIPs at $ 1,683 $ 1,871 Held-to-maturity investments 611 617 Total debt securities 2,294 2,488 Equity securities at FVTNI (including $ 1,939 and $ 1,429 held by CIPs at (1) 2,096 1,585 Equity method investments: Equity method investments (2) 2,476 2,515 Investments related to deferred cash compensation plans (1) 188 241 Total equity method investments 2,664 2,756 Loans held by CIPs 559 205 Federal Reserve Bank stock (3) 92 92 Carried interest (4) 1,864 1,975 Other investments (1)(5) 768 639 Total investments $ 10,337 $ 9,740 (1) Amounts include investments held to economically hedge the impact of market valuation changes on certain deferred cash compensation plans of $ 188 million, $ 12 million and $ 10 million included within equity method investments, equity securities at fair value recorded through net income ("FVTNI") and other investments, respectively, as of March 31, 2024. Amounts as of December 31, 2023 were $ 241 million, $ 14 million, and $ 9 million, respectively. (2) Equity method investments primarily include BlackRock’s direct investments in certain BlackRock sponsored investment funds. (3) Federal Reserve Bank stock is held for regulatory purposes and is restricted from sale. (4) Carried interest represents allocations to BlackRock’s general partner capital accounts from certain sponsored investment funds. These balances are subject to change upon cash distributions, additional allocations or reallocations back to limited partners within the respective funds. (5) Other investments include BlackRock’s investments in nonmarketable equity securities, which are measured at cost, adjusted for observable price changes, a loan held at amortized cost, and private equity, real asset, and commodity investments held by CIPs, which are measured at fair value. Held-to-Maturity Investments Held-to-maturity investments included certain investments in BlackRock sponsored CLOs. The amortized cost (carrying value) of these investments approximated fair value (primarily a Level 2 input). At March 31, 2024, $ 10 million of these investments mature in less than one year, $ 320 million of these investments mature between five to ten years and $ 281 million of these investments mature after ten years. Trading Debt Securities and Equity Securities at FVTNI A summary of the cost and carrying value of trading debt securities and equity securities at FVTNI is as follows: March 31, 2024 December 31, 2023 (in millions) Cost Carrying Cost Carrying Trading debt securities: Corporate debt $ 947 $ 940 $ 1,225 $ 1,218 Government debt 566 556 501 489 Asset/mortgage-backed debt 210 187 185 164 Total trading debt securities $ 1,723 $ 1,683 $ 1,911 $ 1,871 Equity securities at FVTNI: Equity securities/mutual funds $ 1,994 $ 2,096 $ 1,520 $ 1,585

Consolidated Sponsored Investme

Consolidated Sponsored Investment Products	3 Months Ended
	Mar. 31, 2024
Statement Of Financial Position [Abstract]
Consolidated Sponsored Investment Products	5 . Consolidated Sponsored Investment Products In the normal course of business, the Company is the manager of various types of sponsored investment products, which may be considered VIE or voting rights entities ("VREs"). The Company consolidates certain sponsored investment funds accounted for as VREs because it is deemed to control such funds. In addition, the Company may from time to time own equity or debt securities or enter into derivatives or loan arrangements with the vehicles, each of which are considered variable interests. The Company’s involvement in financing the operations of the VIEs is generally limited to its economic interest in the entity. The Company’s consolidated VIEs include certain sponsored investment products in which BlackRock has an economic interest and as the investment manager, is deemed to have both the power to direct the most significant activities of the products and the right to receive benefits (or the obligation to absorb losses) that could potentially be significant to these sponsored investment products. The assets of these VIEs are not available to creditors of the Company. In addition, the investors in these VIEs have no recourse to the credit of the Company. The following table presents the balances related to these CIPs accounted for as VIEs and VREs that were recorded on the condensed consolidated statements of financial condition, including BlackRock’s net interest in these products: March 31, 2024 December 31, 2023 (in millions) VIEs VREs Total VIEs VREs Total Cash and cash equivalents (1) $ 277 $ 105 $ 382 $ 234 $ 54 $ 288 Investments: Trading debt securities 1,175 460 1,635 1,423 406 1,829 Equity securities at FVTNI 1,349 590 1,939 1,059 370 1,429 Loans 545 14 559 195 10 205 Other investments 432 151 583 427 171 598 Carried interest 1,790 — 1,790 1,916 — 1,916 Total investments 5,291 1,215 6,506 5,020 957 5,977 Other assets 82 35 117 83 39 122 Other liabilities (2) ( 2,114 ) ( 150 ) ( 2,264 ) ( 2,233 ) ( 108 ) ( 2,341 ) Noncontrolling interest - CIPs ( 1,641 ) ( 313 ) ( 1,954 ) ( 1,625 ) ( 226 ) ( 1,851 ) BlackRock's net interest in CIPs $ 1,895 $ 892 $ 2,787 $ 1,479 $ 716 $ 2,195 (1) The Company generally cannot readily access cash and cash equivalents held by CIPs to use in its operating activities. (2) At both March 31, 2024 and December 31, 2023 , other liabilities of VIEs primarily include deferred carried interest liabilities and borrowings of a consolidated CLO. BlackRock’s total exposure to CIPs represents the value of its economic interest in these CIPs. Valuation changes associated with financial instruments held at fair value by these CIPs are reflected in nonoperating income (expense) and partially offset in net income (loss) attributable to NCI for the portion not attributable to BlackRock. Net gain (loss) related to consolidated VIEs is presented in the following table: Three Months Ended March 31, (in millions) 2024 2023 Nonoperating net gain (loss) on consolidated VIEs $ 71 $ 59 Net income (loss) attributable to NCI on consolidated VIEs $ 39 $ 12

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2024
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Variable Interest Entities	6 . Variable Interest Entities Nonconsolidated VIEs . At March 31, 2024 and December 31, 2023, the Company’s carrying value of assets and liabilities included on the condensed consolidated statements of financial condition pertaining to nonconsolidated VIEs and its maximum risk of loss related to VIEs for which it held a variable interest, but for which it was not the primary beneficiary, was as follows: Advisory Fee Other Net Assets Maximum (in millions) Investments Receivables (Liabilities) Risk of Loss (1) March 31, 2024 Sponsored investment $ 2,427 $ 114 $ ( 11 ) $ 2,558 December 31, 2023 Sponsored investment $ 2,377 $ 116 $ ( 11 ) $ 2,510 (1) At both March 31, 2024 and December 31, 2023 , BlackRock’s maximum risk of loss associated with these VIEs primarily related to BlackRock’s investments and the collection of advisory fee receivables. The net assets of sponsored investment products that are nonconsolidated VIEs approximated $ 42 billion and $ 39 billion at March 31, 2024 and December 31, 2023 , respectively.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures	7. Fair Value Disclosures Fair Value Hierarchy Assets and liabilities measured at fair value on a recurring basis March 31, 2024 (in millions) Quoted Prices Significant Significant Investments (1) Other (2) March 31, Assets: Investments Debt securities: Trading securities $ — $ 1,635 $ 48 $ — $ — $ 1,683 Held-to-maturity investments — — — — 611 611 Total debt securities — 1,635 48 — 611 2,294 Equity securities at FVTNI: Equity securities/mutual funds 2,096 — — — — 2,096 Equity method: Equity, fixed income, and multi-asset 235 — — — — 235 Hedge funds/funds of hedge — — — 623 — 623 Private equity funds — — — 1,186 — 1,186 Real assets funds — — — 432 — 432 Investments related to deferred — — — 188 — 188 Total equity method 235 — — 2,429 — 2,664 Loans — 34 525 — — 559 Federal Reserve Bank Stock — — — — 92 92 Carried interest — — — — 1,864 1,864 Other investments 17 — — 455 296 768 Total investments 2,348 1,669 573 2,884 2,863 10,337 Other assets (3) 136 3 138 — — 277 Separate account assets 34,791 20,066 — — 519 55,376 Separate account collateral held under securities lending agreements: Equity securities 1,566 — — — — 1,566 Debt securities — 2,432 — — — 2,432 Total separate account collateral held 1,566 2,432 — — — 3,998 Total $ 38,841 $ 24,170 $ 711 $ 2,884 $ 3,382 $ 69,988 Liabilities: Separate account collateral $ 1,566 $ 2,432 $ — $ — $ — $ 3,998 Other liabilities (4) — 24 258 — — 282 Total $ 1,566 $ 2,456 $ 258 $ — $ — $ 4,280 (1) Amounts are comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. (2) Amounts are comprised of investments held at amortized cost and cost, adjusted for observable price changes, and carried interest. (3) Level 1 amount includes a minority investment in a publicly traded company. Level 3 amount includes corporate minority private debt investments with changes in fair value recorded in AOCI, net of tax. (4) Level 2 amount primarily includes fair value of derivatives (See Note 8, Derivatives and Hedging , for more information). Level 3 amount primarily includes borrowings of a consolidated CLO classified based on the significance of unobservable inputs used for calculating the fair value of consolidated CLO assets, and contingent liabilities related to certain acquisitions. December 31, 2023 (in millions) Quoted Prices Significant Significant Investments (1) Other (2) December 31, Assets: Investments Debt securities: Trading securities $ — $ 1,829 $ 42 $ — $ — $ 1,871 Held-to-maturity investments — — — — 617 617 Total debt securities — 1,829 42 — 617 2,488 Equity securities at FVTNI: Equity securities/mutual funds 1,585 — — — — 1,585 Equity method: Equity, fixed income, and multi-asset 246 — — — — 246 Hedge funds/funds of hedge — — — 588 — 588 Private equity funds — — — 1,264 — 1,264 Real assets funds — — — 417 — 417 Investments related to deferred cash — — — 241 — 241 Total equity method 246 — — 2,510 — 2,756 Loans — 30 175 — — 205 Federal Reserve Bank Stock — — — — 92 92 Carried interest — — — — 1,975 1,975 Other investments 15 — — 467 157 639 Total investments 1,846 1,859 217 2,977 2,841 9,740 Other assets (3) 117 19 120 — — 256 Separate account assets 34,621 20,810 — — 667 56,098 Separate account collateral held under securities lending agreements: Equity securities 1,686 — — — — 1,686 Debt securities — 2,872 — — — 2,872 Total separate account collateral held 1,686 2,872 — — — 4,558 Total $ 38,270 $ 25,560 $ 337 $ 2,977 $ 3,508 $ 70,652 Liabilities: Separate account collateral $ 1,686 $ 2,872 $ — $ — $ — $ 4,558 Other liabilities (4) — 17 279 — — 296 Total $ 1,686 $ 2,889 $ 279 $ — $ — $ 4,854 (1) Amounts are comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. (2) Amounts are comprised of investments held at amortized cost and cost, adjusted for observable price changes, and carried interest. (3) Level 1 amount includes a minority investment in a publicly traded company. Level 3 amount includes a corporate minority private debt investment with changes in fair value recorded in AOCI, net of tax. (4) Level 2 amount primarily includes fair value of derivatives (See Note 8, Derivatives and Hedging , for more information). Level 3 amount primarily includes borrowings of a consolidated CLO classified based on the significance of unobservable inputs used for calculating the fair value of consolidated CLO assets, and a contingent liability related to certain acquisitions. Level 3 Assets. Level 3 assets predominantly include investments in CLOs, loans of consolidated CIPs, and corporate minority private debt investments. Investments in CLOs and loans were valued based on single-broker nonbinding quotes or quotes from pricing services which use significant unobservable inputs. BlackRock's corporate minority private debt investments were valued using the income approach by discounting the expected cash flows to a single present value. For investments utilizing a discounted cashflow valuation technique, an increase (decrease) in the discount rate or risk premium in isolation could have resulted in a significantly lower (higher) fair value measurement as of March 31, 2024 and December 31, 2023. Level 3 Liabilities. Level 3 liabilities primarily include borrowings of a consolidated CLO, which were valued based on the fair value of the assets of the consolidated CLO less the fair value of the Company’s economic interest in the CLO, as well as contingent liabilities related to certain acquisitions, which were valued based upon discounted cash flow analyses using unobservable market data inputs, or other valuation techniques. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended March 31, 2024 (in millions) December 31, Realized Purchases Sales and Issuances and (1) Transfers Transfers March 31, Total Net (2) Assets: Investments: Debt securities: Trading $ 42 $ ( 1 ) $ 7 $ — $ — $ — $ — $ 48 $ ( 1 ) Total debt securities 42 ( 1 ) 7 — — — — 48 ( 1 ) Loans 175 2 365 ( 17 ) — 3 ( 3 ) 525 2 Total investments 217 1 372 ( 17 ) — 3 ( 3 ) 573 1 Other assets 120 ( 7 ) 25 — — — — 138 ( 7 ) Total assets $ 337 $ ( 6 ) $ 397 $ ( 17 ) $ — $ 3 $ ( 3 ) $ 711 $ ( 6 ) Liabilities: Other liabilities $ 279 $ 6 $ — $ — $ ( 15 ) $ — $ — $ 258 $ 6 (1) Amounts include repayments of borrowings of a consolidated CLO. (2) Earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at the reporting date. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended March 31, 2023 (in millions) December 31, Realized Purchases Sales and Issuances and (1) Transfers Transfers March 31, Total Net (2) Assets: Investments: Debt securities: Trading $ 52 $ 1 $ 2 $ — $ — $ — $ — $ 55 $ 1 Total debt securities 52 1 2 — — — — 55 1 Loans 248 6 12 ( 20 ) — 5 ( 4 ) 247 6 Total investments $ 300 $ 7 $ 14 $ ( 20 ) $ — $ 5 $ ( 4 ) $ 302 $ 7 Liabilities: Other liabilities $ 280 $ 4 $ — $ — $ ( 19 ) $ — $ — $ 257 $ 4 (1) Amounts include repayments of borrowings of a consolidated CLO. (2) Earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at the reporting date. Realized and Unrealized Gains (Losses) for Level 3 Assets and Liabilities. Realized and unrealized gains (losses) recorded for Level 3 assets and liabilities are reported in nonoperating income (expense) or AOCI for corporate minority private debt investments. A portion of net income (loss) related to securities held by CIPs is allocated to NCI to reflect net income (loss) not attributable to the Company. Transfers in and/or out of Levels. Transfers in and/or out of levels are reflected when significant inputs, including market inputs or performance attributes, used for the fair value measurement become observable/unobservable. Disclosures of Fair Value for Financial Instruments Not Held at Fair Value . At March 31, 2024 and December 31, 2023, the fair value of the Company’s financial instruments not held at fair value are categorized in the table below: March 31, 2024 December 31, 2023 (in millions) Carrying Estimated Carrying Estimated Fair Value Financial Assets (1) : Cash and cash equivalents $ 9,374 $ 9,374 $ 8,736 $ 8,736 Level 1 (2)(3) Other assets $ 90 $ 90 $ 80 $ 80 Level 1 (2)(4) Financial Liabilities: Long-term borrowings $ 9,860 $ 9,330 $ 7,918 $ 7,413 Level 2 (5) (1) See Note 4, Investments , for further information on investments not held at fair value. (2) Cash and cash equivalents are carried at either cost or amortized cost, which approximates fair value due to their short-term maturities. (3) At March 31, 2024 and December 31, 2023 , approximately $ 4.3 billion and $ 3.4 billion, respectively, of money market funds were recorded within cash and cash equivalents on the condensed consolidated statements of financial condition. Money market funds are valued based on quoted market prices, or $ 1.00 per share, which generally is the NAV of the fund. (4) At March 31, 2024 and December 31, 2023, other assets included cash collateral of approximately $ 73 million and $ 63 million , respectively. See Note 8, Derivatives and Hedging for further information on derivatives held by the Company. In addition, other assets included $ 17 million of restricted cash at both March 31, 2024 and December 31, 2023. (5) Long-term borrowings are recorded at amortized cost, net of debt issuance costs. The fair value of the long-term borrowings, including the current portion of long-term borrowings, is determined using market prices and the EUR/USD foreign exchange rate at the end of March 2024 and December 2023, respectively. See Note 13, Borrowings , for the fair value of each of the Company’s long-term borrowings. Investments in Certain Entities that Calculate NAV Per Share As a practical expedient to value certain investments that do not have a readily determinable fair value and have attributes of an investment company, the Company uses NAV as the fair value. The following tables list information regarding all investments that use a fair value measurement to account for both their financial assets and financial liabilities in their calculation of a NAV per share (or equivalent). March 31, 2024 (in millions) Ref Fair Value Total Redemption Redemption Equity method (1) : Hedge funds/funds of hedge (a) $ 623 $ 129 Daily/Monthly ( 11 %) 7 %) 82 %) 1 – 90 days Private equity funds (b) 1,186 236 N/R N/R Real assets funds (c) 432 237 Quarterly ( 9 %) 91 %) 60 days Investments related to deferred (e) 188 — Monthly 1 – 90 days Consolidated sponsored Real assets funds (c) 158 58 N/R N/R Private equity funds (d) 126 19 N/R N/R Hedge funds/other (a) 171 43 Quarterly ( 83 %) 17 %) 90 days Total $ 2,884 $ 722 December 31, 2023 (in millions) Ref Fair Value Total Redemption Redemption Equity method (1): Hedge funds/funds of hedge (a) $ 588 $ 134 Daily/Monthly ( 4 %) 8 %) 88 %) 1 – 90 days Private equity funds (b) 1,264 218 N/R N/R Real assets funds (c) 417 210 Quarterly ( 10 %) 90 %) 60 days Investments related to deferred (e) 241 — Monthly 1 – 90 days Consolidated sponsored Real assets funds (c) 154 62 N/R N/R Private equity funds (d) 145 37 N/R N/R Hedge funds/other (a) 168 64 Quarterly ( 83 %) 17 %) 90 days Total $ 2,977 $ 725 N/R – Not Redeemable (1) Comprised of equity method investments, which include investment companies that account for their financial assets and most financial liabilities under fair value measures; therefore, the Company’s investment in such equity method investees approximates fair value. (a) This category includes hedge funds, funds of hedge funds, and other funds that invest primarily in equities, fixed income securities, private credit, opportunistic and mortgage instruments and other third-party hedge funds. The fair values of the investments have been estimated using the NAV of the Company’s ownership interest in partners’ capital. The liquidation period for the investments in the funds that are not subject to redemption is unknown at both March 31, 2024 and December 31, 2023. (b) This category includes private equity funds that initially invest in nonmarketable securities of private companies, which ultimately may become public in the future. The fair values of these investments have been estimated using capital accounts representing the Company’s ownership interest in the funds and may also include other performance inputs. The Company’s investment in each fund is not subject to redemption and is normally returned through distributions as a result of the liquidation of the underlying assets of the private equity funds. The liquidation period for the investments in these funds is unknown at both March 31, 2024 and December 31, 2023. (c) This category includes several real assets funds that invest directly and indirectly in real estate or infrastructure. The fair values of the investments have been estimated using capital accounts representing the Company’s ownership interest in the funds. The Company’s investments that are not subject to redemption or are not currently redeemable are normally returned through distributions and realizations of the underlying assets of the funds. The liquidation period for the investments in the funds that are not subject to redemptions is unknown at both March 31, 2024 and December 31, 2023. The total remaining unfunded commitments were $ 295 million and $ 272 million at March 31, 2024 and December 31, 2023, respectively. The Company’s portion of the total remaining unfunded commitments was $ 268 million and $ 248 million at March 31, 2024 and December 31, 2023, respectively. (d) This category includes the underlying third-party private equity funds within consolidated BlackRock sponsored private equity funds of funds. These investments are not subject to redemption or are not currently redeemable; however, for certain funds, the Company may sell or transfer its interest, which may need approval by the general partner of the underlying funds. Due to the nature of the investments in this category, the Company reduces its investment by distributions that are received through the realization of the underlying assets of the funds. The liquidation period for the underlying assets of these funds is unknown. (e) This category includes hedge funds and funds of hedge funds that invest primarily in equities, fixed income securities, mortgage instruments and other third-party hedge funds. The fair values of the investments have been estimated using the NAV of the Company’s ownership interest in partners’ capital. The investments in hedge funds will be redeemed upon settlement of certain deferred cash compensation liabilities. Fair Value Option At March 31, 2024 and December 31, 2023, the Company elected the fair value option for certain investments in CLOs of approximately $ 41 million and $ 42 million, respectively, reported within investments. In addition, the Company elected the fair value option for bank loans and borrowings of a consolidated CLO, recorded within investments and other liabilities, respectively. The following table summarizes the information related to these bank loans and borrowings at March 31, 2024 and December 31, 2023: March 31, December 31, (in millions) 2024 2023 CLO loans: Aggregate principal amounts outstanding $ 195 $ 203 Fair value 183 194 Aggregate unpaid principal balance in excess of (less than) fair value $ 12 $ 9 CLO Borrowings: Aggregate principal amounts outstanding $ 180 $ 190 Fair value $ 169 $ 180 At March 31, 2024 , the principal amounts outstanding of the borrowings issued by the CLOs mature in 2030 , and may be repaid prior to maturity at any time. During the three months ended March 31, 2024 and 2023 , the net gains (losses) from the change in fair value of the bank loans and borrowings held by the consolidated CLO were not material and were recorded in net gain (loss) on the condensed consolidated statements of income. The change in fair value of the assets and liabilities included interest income and expense, respectively.

Derivatives and Hedging

Derivatives and Hedging	3 Months Ended
	Mar. 31, 2024
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	8. Derivatives and Hedging The Company maintains a program to enter into exchange traded futures as a macro hedging strategy to hedge market price and interest rate exposures with respect to its total portfolio of seed investments in sponsored investment products. The Company had outstanding exchange traded futures related to this macro hedging strategy with aggregate notional values of approximately $ 1.8 billion at both March 31, 2024 and December 31, 2023 , with expiration dates during the second and first quarter of 2024 , respectively. In addition, the Company enters into futures to economically hedge the exposure to market movements on certain deferred cash compensation plans. At March 31, 2024 and December 31, 2023, the Company had outstanding exchange traded futures with aggregate notional values related to its deferred cash compensation hedging program of approximately $ 205 million and $ 204 million, with expiration dates during the second and first quarter of 2024 , respectively. Changes in the value of the futures contracts are recognized as gains or losses within nonoperating income (expense). Variation margin payments, which represent settlements of profit/loss, are generally received or made daily, and are reflected in other assets and other liabilities on the condensed consolidated statements of financial condition. These amounts were not material as of March 31, 2024 and December 31, 2023. The Company executes forward foreign currency exchange contracts to mitigate the risk of certain foreign exchange movements. At March 31, 2024 and December 31, 2023, the Company had outstanding forward foreign currency exchange contracts with aggregate notional values of approximately $ 2.7 billion and $ 3.1 billion, and with expiration dates in April 2024 and January 2024 , respectively. At both March 31, 2024 and December 31, 2023, the Company had a derivative providing credit protection with a notional amount of approximately $ 17 million to a counterparty, representing the Company’s maximum risk of loss with respect to the derivative. The Company carries the derivative at fair value based on the expected discounted future cash outflows under the arrangement. The following table presents the fair values of derivative instruments recognized in the condensed consolidated statements of financial condition at March 31, 2024 and December 31, 2023: Assets Liabilities (in millions) Statement of March 31, 2024 December 31, 2023 Statement of March 31, 2024 December 31, 2023 Derivative Instruments Forward foreign currency Other assets $ 3 $ 19 Other liabilities $ 13 $ 6 The following table presents realized and unrealized gains (losses) recognized in the condensed consolidated statements of income on derivative instruments: Three Months Ended March 31, Statement of Income 2024 2023 (in millions) Classification Gains (Losses) Derivative Instruments Exchange traded futures (1) Net gain (loss) on investments $ ( 32 ) $ ( 45 ) Forward foreign currency General and administration expense ( 5 ) 40 Total gain (loss) from derivative $ ( 37 ) $ ( 5 ) (1) Amounts include $ 43 million and $ 54 million of losses on futures used in a macro hedging strategy of seed investments for the three months ended March 31, 2024 and 2023, respectively. In addition, amounts include $ 11 million and $ 9 million of gains on futures used to economically hedge certain deferred cash compensation plans for the three months ended March 31, 2024 and 2023 , respectively. The Company's CIPs may utilize derivative instruments as a part of the funds’ investment strategies. The change in fair value of such derivatives, which is recorded in nonoperating income (expense), was not material for the three months ended March 31, 2024 and 2023. See Note 14, Borrowings , in the 2023 Form 10-K for more information on the Company’s net investment hedge.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2024
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	9 . Goodwill Goodwill activity during the three months ended March 31, 2024 was as follows: (in millions) December 31, 2023 $ 15,524 Other ( 2 ) March 31, 2024 $ 15,522

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2024
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	10 . Intangible Assets The carrying amounts of identifiable intangible assets are summarized as follows: (in millions) Indefinite-lived Finite-lived Total December 31, 2023 $ 17,578 $ 680 $ 18,258 Amortization expense — ( 38 ) ( 38 ) Other — ( 1 ) ( 1 ) March 31, 2024 $ 17,578 $ 641 $ 18,219

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	11 . Leases The following table presents components of lease cost included in general and administration expense on the condensed consolidated statements of income: Three Months Ended March 31, (in millions) 2024 2023 Lease cost: Operating lease cost (1) $ 45 $ 55 Variable lease cost (2) 14 11 Total lease cost $ 59 $ 66 (1) Amounts include short-term leases, which are immaterial for the three months ended March 31, 2024 and 2023 . (2) Amounts include operating lease payments, which may be adjusted based on usage, changes in an index or market rate, as well as common area maintenance charges and other variable costs not included in the measurement of right-of-use (“ROU”) assets and operating lease liabilities. Supplemental information related to operating leases is summarized below: Three Months Ended March 31, (in millions) 2024 2023 Supplemental cash flow information: Operating cash flows from operating leases included in the measurement $ 44 $ 42 Supplemental noncash information: ROU assets in exchange for operating lease liabilities $ 27 $ 11 March 31, December 31, 2024 2023 Lease term and discount rate: Weighted-average remaining lease term 15 years 15 years Weighted-average discount rate 3 % 3 %

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2024
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Other Assets	12 . Other Assets The Company records certain corporate minority investments, which exclude seed and co-investments in the Company's sponsored investment products, within other assets on the condensed consolidated statements of financial condition. At March 31, 2024 and December 31, 2023 , the Company had $ 780 million and $ 773 million, respectively, of certain corporate minority equity method investments, recorded within other assets . BlackRock’s share of these investees’ underlying net income or loss is presented within nonoperating income (expense) beginning in the first quarter of 2024 and within advisory and other revenue in the first quarter of 2023. At March 31, 2024 and December 31, 2023 , the Company's ownership interest in its minority investment in iCapital Network Inc. ("iCapital") was approximately 25 %, and the carrying value of the Company's interest was $ 642 million and $ 641 million, respectively. In accordance with GAAP, certain equity method investees, including iCapital, do not account for both their financial assets and liabilities under fair value measures; therefore, the Company’s investment in such equity method investees may not represent fair value. At March 31, 2024 and December 31, 2023 , the Company had $ 529 million and $ 484 million, respectively, of other nonequity method corporate minority investments recorded within other assets. These investments include equity securities, generally measured at fair value or under the measurement alternative to fair value for nonmarketable securities, and corporate minority private debt investments measured at fair value. Changes in value of the equity securities are recorded in nonoperating income (expense) and changes in value of the debt securities are recorded in AOCI, net of tax. See Note 2, Significant Accounting Policies , in the notes to the consolidated financial statements contained in the 2023 Form 10-K for further information.

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Borrowings	13 . Borrowings Short-Term Borrowings 2024 Revolving Credit Facility. The Company maintains an unsecured revolving credit facility with a M arch 202 8 maturity date, which is available for working capital and general corporate purposes (the “2024 credit facility”). In March 2024, the 2024 credit facility was amended to, among other things, (1) permit the proposed acquisition of Global Infrastructure Management, LLC (referred to herein as Global Infrastructure Partners (“GIP”) or the "GIP Transaction") and the transactions contemplated in connection with the GIP Transaction, (2) add BlackRock Funding, Inc., a Delaware corporation and currently a wholly owned subsidiary of BlackRock (“BlackRock Funding”), as a borrower under the existing credit agreement, (3) add BlackRock Funding as a guarantor of the payment and performance of the obligations, liabilities and indebtedness of BlackRock and certain of its other subsidiaries and (4) update the sustainability-linked pricing mechanics to allow metrics to be set following the consummation of the GIP Transaction. The 2024 credit facility permits the Company to request up to an additional $ 1.0 billion of borrowing capacity, subject to lender credit approval, which could increase the overall size of the 2024 credit facility from $ 5 billion as of March 31, 2024, to an aggregate principal amount of up to $ 6 billion. Interest on outstanding borrowings accrues at an applicable benchmark rate for the denominated currency of the loan, plus a spread. The 2024 credit facility requires the Company not to exceed a maximum leverage ratio (ratio of net debt to earnings before interest, taxes, depreciation and amortization, where net debt equals total debt less unrestricted cash) of 3 to 1, which was satisfied with a ratio of less than 1 to 1 at March 31, 2024. At March 31, 2024 , the Company had no amount outstanding under the 2024 credit facility. Commercial Paper Program. The Company can issue unsecured commercial paper notes (the “CP Notes”) on a private-placement basis up to a maximum aggregate amount outstanding at any time of $ 4 billion. The commercial paper program is currently supported by the 2024 credit facility. At March 31, 2024 , BlackRock had no CP Notes outstanding. Subsidiary Credit Facility. In January 2024, BlackRock Investment Management (UK) Limited ("BIM UK"), a wholly owned subsidiary of the Company, entered into a revolving credit facility (the “Subsidiary Credit Facility”) in the amount of £ 25 million (or approximately $ 32 million based on the GBP/USD foreign exchange rate at March 31, 2024) with a rolling 364-day term structure. The Subsidiary Credit Facility is available for BIM UK's general corporate and working capital purposes. At March 31, 2024 , there was no amount outstanding under the Subsidiary Credit Facility. Long-Term Borrowings 2024 Notes. In March 2024, BlackRock Funding issued $ 3.0 billion in aggregate principal amount of senior unsecured and unsubordinated notes. These notes were issued as three separate series of senior debt securities including $ 500 million of 4.70 % notes maturing on March 14, 2029 (the "2029 Notes"), $ 1.0 billion of 5.00 % notes maturing on March 14, 2034 (the "2034 Notes") and $ 1.5 billion of 5.25 % notes maturing on March 14, 2054 (the "2054 Notes") (collectively, the "2024 Notes"). Net proceeds are intended to be used to fund a portion of the cash consideration for the GIP Transaction, which is expected to close in third quarter of 2024. Interest on the 2024 Notes of approximately $ 152 million per year is payable semi-annually on March 14 and September 14 of each year, beginning September 14, 2024. The 2024 Notes are fully and unconditionally guaranteed (the “Guarantee”) on a senior unsecured basis by BlackRock. The 2024 Notes and the Guarantee rank equally in right of payment with all of BlackRock Funding and BlackRock’s other unsubordinated indebtedness, respectively. The 2024 Notes may be redeemed prior to maturity at any time in whole or in part at the option of BlackRock Funding at the redemption prices set forth in the applicable series of 2024 Notes. In addition, if the GIP Transaction is not consummated, BlackRock Funding will be required to redeem all outstanding 2029 Notes and 2034 Notes (the “Special Mandatory Redemption”) at a Special Mandatory Redemption price equal to 101 % of the aggregate principal amount of the applicable series of 2024 Notes, plus accrued and unpaid interest, if any, to, but excluding, the Special Mandatory Redemption date. Upon completion of a Special Mandatory Redemption, either (a) BlackRock may assume the obligations of BlackRock Funding under the 2054 Notes or (b) BlackRock Funding may merge with and into BlackRock as a result of which transaction the separate legal existence of BlackRock Funding would cease, and, in either case, BlackRock Funding will be released under the indenture governing the 2054 Notes and BlackRock will be released from the note guarantees, but will instead become the primary (and sole) obligor under the 2054 Notes and the related indenture provisions. In the event of a Special Mandatory Redemption, the proceeds of the 2054 Notes will be used for general corporate purposes, which may include repayment of outstanding indebtedness. The carrying value and fair value of long-term borrowings determined using market prices and EUR/USD foreign exchange rate at March 31, 2024 included the following: (in millions) Maturity Unamortized (1) Carrying Value Fair Value 1.25% Notes due 2025 $ 756 $ ( 1 ) $ 755 $ 738 3.20% Notes due 2027 700 ( 2 ) 698 671 3.25% Notes due 2029 1,000 ( 7 ) 993 935 4.70% Notes due 2029 (2) 500 ( 4 ) 496 500 2.40% Notes due 2030 1,000 ( 4 ) 996 876 1.90% Notes due 2031 1,250 ( 8 ) 1,242 1,039 2.10% Notes due 2032 1,000 ( 12 ) 988 819 4.75% Notes due 2033 1,250 ( 18 ) 1,232 1,239 5.00% Notes due 2034 (2) 1,000 ( 8 ) 992 1,004 5.25% Notes due 2054 (2) 1,500 ( 32 ) 1,468 1,509 Total long-term borrowings $ 9,956 $ ( 96 ) $ 9,860 $ 9,330 (1) The unamortized discount and debt issuance costs are being amortized over the term of the notes. (2) Issued by BlackRock Funding and guaranteed by BlackRock. Long-term borrowings at December 31, 2023 had a carrying value of $ 7.9 billion and a fair value of $ 7.4 billion, determined using market prices at the end of December 31, 2023. In March 2024, the Company fully repaid $ 1.0 billion of 3.50 % Notes at maturity. See Note 14, Borrowings , in the 2023 Form 10-K for more information regarding the Company’s borrowings.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Investment Commitments. At March 31, 2024 , the Company had $ 781 million of various capital commitments to fund sponsored investment products, including CIPs. These products include private equity funds, real assets funds and opportunistic funds. This amount excludes additional commitments made by consolidated funds of funds to underlying third-party funds as third-party noncontrolling interest holders have the legal obligation to fund the respective commitments of such funds of funds. Generally, the timing of the funding of these commitments is unknown and the commitments are callable on demand at any time prior to the expiration of the commitment. These unfunded commitments are not recorded on the condensed consolidated statements of financial condition. These commitments do not include potential future commitments approved by the Company that are not yet legally binding. The Company intends to make additional capital commitments from time to time to fund additional investment products for, and with, its clients. Contingencies Legal Proceedings. From time to time, BlackRock receives subpoenas or other requests for information from various US federal and state governmental and regulatory authorities and international governmental and regulatory authorities in connection with industry-wide or other investigations or proceedings. It is BlackRock’s policy to cooperate fully with such matters. BlackRock has been responding to requests from the SEC in connection with a publicly reported, industry-wide investigation of investment advisers’ compliance with record retention requirements relating to certain types of electronic communications. BlackRock is cooperating with the SEC’s investigation. The Company, certain of its subsidiaries and employees have been named as defendants in various legal actions, including arbitrations and other litigation arising in connection with BlackRock’s activities. Additionally, BlackRock-advised investment portfolios may be subject to lawsuits, any of which potentially could harm the investment returns of the applicable portfolio or result in the Company being liable to the portfolios for any resulting damages. Management, after consultation with legal counsel, currently does not anticipate that the aggregate liability arising out of regulatory matters or lawsuits will have a material effect on BlackRock’s results of operations, financial position, or cash flows. However, there is no assurance as to whether any such pending or threatened matters will have a material effect on BlackRock’s results of operations, financial position or cash flows in any future reporting period. Due to uncertainties surrounding the outcome of these matters, management cannot reasonably estimate the possible loss or range of loss that may arise from these matters. Indemnifications. In the ordinary course of business or in connection with certain acquisition agreements, BlackRock enters into contracts pursuant to which it may agree to indemnify third parties in certain circumstances. The terms of these indemnities vary from contract to contract and the amount of indemnification liability, if any, cannot be determined or the likelihood of any liability is considered remote. Consequently, no liability has been recorded on the condensed consolidated statements of financial condition. In connection with securities lending transactions, BlackRock has agreed to indemnify certain securities lending clients against potential loss resulting from a borrower’s failure to fulfill its obligations under the securities lending agreement should the value of the collateral pledged by the borrower at the time of default be insufficient to cover the borrower’s obligation under the securities lending agreement. The amount of securities on loan as of March 31, 2024 and subject to this type of indemnification was approximately $ 270 billion. In the Company’s capacity as lending agent, cash and securities totaling approximately $ 289 billion were held as collateral for indemnified securities on loan at March 31, 2024 . The fair value of these indemnifications was no t material at March 31, 2024 .

Revenue

Revenue	3 Months Ended
	Mar. 31, 2024
Revenue From Contract With Customer [Abstract]
Revenue	15 . Revenue The table below presents detail of revenue for the three months ended March 31, 2024 and 2023 and includes the product mix of investment advisory, administration fees and securities lending revenue, and performance fees. Three Months Ended March 31, (in millions) 2024 2023 Revenue Investment advisory, administration fees and Equity: Active $ 516 $ 500 ETFs 1,190 1,078 Non-ETF index 187 177 Equity subtotal 1,893 1,755 Fixed income: Active 484 468 ETFs 327 295 Non-ETF index 92 87 Fixed income subtotal 903 850 Multi-asset 314 296 Alternatives: Illiquid alternatives 240 201 Liquid alternatives 138 145 Currency and commodities (1) 45 46 Alternatives subtotal 423 392 Long-term 3,533 3,293 Cash management 245 209 Total investment advisory, administration fees 3,778 3,502 Investment advisory performance fees: Equity 8 6 Fixed income 4 1 Multi-asset 2 15 Alternatives: Illiquid alternatives 125 21 Liquid alternatives 65 12 Alternatives subtotal 190 33 Total investment advisory performance fees 204 55 Technology services revenue 377 340 Distribution fees 310 319 Advisory and other revenue: Advisory 13 14 Other 46 13 Total advisory and other revenue 59 27 Total revenue $ 4,728 $ 4,243 (1) Amounts include commodity ETFs. The tables below present the investment advisory, administration fees and securities lending revenue by client type and investment style: Three Months Ended March 31, (in millions) 2024 2023 By client type: Retail $ 1,041 $ 1,032 ETFs 1,567 1,418 Institutional: Active 697 622 Index 228 221 Total institutional 925 843 Long-term 3,533 3,293 Cash management 245 209 Total $ 3,778 $ 3,502 By investment style: Active $ 1,681 $ 1,606 Index and ETFs 1,852 1,687 Long-term 3,533 3,293 Cash management 245 209 Total $ 3,778 $ 3,502 Investment Advisory and Administration Fees – Remaining Performance Obligation The tables below present estimated investment advisory and administration fees expected to be recognized in the future related to the unsatisfied portion of the performance obligations at March 31, 2024 and 2023: March 31, 2024 Remainder of (in millions) 2024 2025 2026 2027 Thereafter Total Investment advisory and Alternatives (1)(2) $ 152 $ 180 $ 159 $ 119 $ 49 $ 659 March 31, 2023 Remainder of (in millions) 2023 2024 2025 2026 Thereafter Total Investment advisory and Alternatives (1)(2) $ 123 $ 120 $ 87 $ 67 $ 49 $ 446 (1) Investment advisory and administration fees include management fees related to certain alternative products, which are based on contractual committed capital outstanding at March 31, 2024 and 2023. Actual management fees could be higher to the extent additional committed capital is raised. These fees are generally billed on a quarterly basis in arrears. (2) The Company elected the following practical expedients and therefore does not include amounts related to (a) performance obligations with an original duration of one year or less, and (b) variable consideration related to future service periods. Change in Deferred Carried Interest Liability The table below presents changes in the deferred carried interest liability, which is included in other liabilities on the condensed consolidated statements of financial condition, for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (in millions) 2024 2023 Beginning balance $ 1,783 $ 1,420 Net increase (decrease) in unrealized allocations 142 54 Performance fee revenue recognized ( 111 ) ( 16 ) Ending balance $ 1,814 $ 1,458 Technology Services Revenue – Remaining Performance Obligation The tables below present estimated technology services revenue expected to be recognized in the future related to the unsatisfied portion of the performance obligations at March 31, 2024 and 2023: March 31, 2024 Remainder of (in millions) 2024 2025 2026 2027 Thereafter Total Technology services revenue (1)(2) $ 104 $ 76 $ 59 $ 33 $ 31 $ 303 March 31, 2023 Remainder of (in millions) 2023 2024 2025 2026 Thereafter Total Technology services revenue (1)(2) $ 87 $ 56 $ 37 $ 26 $ 18 $ 224 (1) Technology services revenue primarily includes upfront payments from customers, which the Company generally recognizes as services are performed. (2) The Company elected the following practical expedients and therefore does not include amounts related to (a) performance obligations with an original duration of one year or less, and (b) variable consideration related to future service periods. In addition to amounts disclosed in the tables above, certain technology services contracts require fixed minimum fees, which are billed on a monthly or quarterly basis in arrears. The Company recognizes such revenue as services are performed. As of March 31, 2024 , the estimated fixed minimum fees for the remainder of the year approximated $ 830 million. The term for these contracts, which are either in their initial or renewal period, ranges from one to five years . The table below presents changes in the technology services deferred revenue liability for the three months ended March 31, 2024 and 2023, which is included in other liabilities on the condensed consolidated statements of financial condition: Three Months Ended March 31, (in millions) 2024 2023 Beginning balance $ 133 $ 125 Additions (1) 25 21 Revenue recognized that was included ( 28 ) ( 26 ) Ending balance $ 130 $ 120 (1) Amounts are net of revenue recognized.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2024
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	16. Stock-Based Compensation Restricted Stock Units (“RSUs”) RSU activity for the three months ended March 31, 2024 is summarized below. Outstanding at RSUs Weighted- December 31, 2023 1,772,639 $ 757.49 Granted 813,233 $ 802.17 Converted ( 679,259 ) $ 760.44 Forfeited ( 15,646 ) $ 783.74 March 31, 2024 1,890,967 $ 775.42 In January 2024, pursuant to the BlackRock, Inc. Second Amended and Restated 1999 Stock Award and Incentive Plan (the “Award Plan”), the Company granted as part of the 2023 annual incentive compensation approximately 347,000 RSUs to employees that vest ratably over three years from the grant date and approximately 344,000 RSUs to employees that cliff vest 100 % on January 31, 2027 . In addition, during the three months ended March 31, 2024, in connection with the GIP Transaction, the Company granted incentive retention awards of approximately 106,000 RSUs to certain employees that vest between two to five years from the grant date. The Company values RSUs at their grant-date fair value as measured by BlackRock’s common stock price. The grant-date fair market value of RSUs granted to employees during the three months ended March 31, 2024 was $ 652 million . At March 31, 2024, the intrinsic value of outstanding RSUs was $ 1.6 billion , reflecting a closing stock price of $ 833.70 . At March 31, 2024 , total unrecognized stock-based compensation expense related to unvested RSUs was $ 817 million. The unrecognized compensation cost is expected to be recognized over the remaining weighted-average period of 1.9 years . Performance-Based RSUs. Performance-based RSU activity for the three months ended March 31, 2024 is summarized below. Outstanding at Performance- Weighted- December 31, 2023 456,384 $ 767.69 Granted 165,631 $ 798.83 Reduction of shares due to performance measures ( 42,341 ) $ 739.22 Converted ( 115,631 ) $ 739.22 March 31, 2024 464,043 $ 788.49 In January 2024, pursuant to the Award Plan, the Company granted 165,631 performance-based RSUs to certain employees that cliff vest 100 % on January 31, 2027 . These awards are amortized over a service period of three years . The number of shares distributed at vesting could be higher or lower than the original grant based on the level of attainment of predetermined Company performance measures. In January 2024, the Company reduced the number of original shares granted in 2021 by 42,341 RSUs based on the level of attainment of Company performance measures during the performance period. The Company values performance-based RSUs at their grant-date fair value as measured by BlackRock’s common stock price. The total grant-date fair market value of performance-based RSUs granted (including impact due to performance measures) to employees during the three months ended March 31, 2024 was $ 101 million . At March 31, 2024, the intrinsic value of outstanding performance-based RSUs was $ 387 million , reflecting a closing stock price of $ 833.70 . At March 31, 2024 , total unrecognized stock-based compensation expense related to unvested performance-based awards was $ 186 million. The unrecognized compensation cost is expected to be recognized over the remaining weighted-average period of 1.9 years . Stock Options Stock option activity and ending balance for the three months ended March 31, 2024 is summarized below. 2017 Performance-based 2023 Performance-based 2023 Time-based Shares Weighted Shares Weighted Shares Weighted Outstanding at December 31, 2023 1,549,080 $ 513.50 807,695 $ 673.58 326,391 $ 673.58 Exercised ( 279,828 ) $ 513.50 — $ — — $ — Forfeited — $ — ( 40,725 ) $ 673.58 — $ — Outstanding at March 31, 2024 1,269,252 $ 513.50 766,970 $ 673.58 326,391 $ 673.58 Options Outstanding Options Exercisable Option Type Exercise Prices Options Outstanding (1) Weighted Average Remaining Life (years) Aggregate Exercise Prices Options Weighted Average Remaining Life (years) Aggregate 2017 Performance-based $ 513.50 1,269,252 2.7 $ 406 $ 513.50 711,328 2.7 $ 228 2023 Performance-based $ 673.58 766,970 8.2 123 $ 673.58 — — — 2023 Time-based $ 673.58 326,391 8.2 52 $ 673.58 — — — 2,362,613 5.2 $ 581 711,328 2.7 $ 228 (1) At March 31, 2024, 0.6 million 2017 performance-based options, 0.8 million 2023 performance-based options and 0.3 million 2023 time-based options were expected to vest. At March 31, 2024 , total unrecognized stock-based compensation expense related to unvested performance-based stock options was $ 141 million. The unrecognized compensation cost is expected to be recognized over the remaining weighted-average period of 3.2 years. Performance-Based Stock Options In 2017, pursuant to the Award Plan, the Company awarded performance-based stock option grants to certain employees ("2017 Performance-based Options"). Vesting of 2017 Performance-based Options was contingent upon the achievement of obtaining 125 % of BlackRock's grant-date stock price within five years from the grant date and the attainment of Company performance measures during the four-year performance period. Both hurdles have been achieved, and the first two tranches of the awards vested at the end of 2022 and 2023 , respectively, with the final equal installment vesting at the end of 2024 . Vested options are exercisable for up to nine years following the grant date. The awards are generally forfeited if the employee leaves the Company before the respective vesting date. The expense for each tranche is amortized over the respective requisite service period. The aggregate intrinsic value of 2017 Performance-based Options exercised during the three months ended March 31, 2024 was $ 82 million. On May 30, 2023, pursuant to the Award Plan, the Company awarded performance-based options to purchase 814,482 shares of BlackRock common stock to certain employees as long-term incentive compensation ("2023 Performance-based Options"). Vesting of 2023 Performance-based Options is contingent upon the achievement of obtaining 130 % of grant-date stock price over 60 calendar days within four year s from the grant date and attainment of Company performance measures during the three-year performance period. If both hurdles are achieved, the award will vest in three tranches of 25 %, 25 % and 50 % in May of 2027 , 2028 and 2029 , respectively. Vested options are exercisable for up to nine years following the grant date, and the awards are forfeited if the employee resigns before the respective vesting date. The expense for each tranche is amortized over the respective requisite service period. Time-Based Stock Options On May 30, 2023, pursuant to the Award Plan, the Company awarded time-based stock options to purchase 326,391 shares of BlackRock common stock to certain employees as long-term incentive compensation ("2023 Time-based Options"). These awards will vest in three tranches of 25 %, 25 % and 50 % in May 2027 , 2028 and 2029 , respectively. Vested options can be exercised up to nine years following the grant date, and the awards are forfeited if the employee resigns before the respective vesting date. See Note 17, Stock-Based Compensation, in the 2023 Form 10-K for more information on RSUs, performance-based RSUs and stock options.

Net Capital Requirements

Net Capital Requirements	3 Months Ended
	Mar. 31, 2024
Regulatory Capital Requirements [Abstract]
Net Capital Requirements	17 . Net Capital Requirements The Company is required to maintain net capital in certain regulated subsidiaries within a number of jurisdictions, which is partially maintained by retaining cash and cash equivalent investments in those subsidiaries or jurisdictions. As a result, such subsidiaries of the Company may be restricted in their ability to transfer cash between different jurisdictions and to their parents. Additionally, transfers of cash between international jurisdictions may have adverse tax consequences that could discourage such transfers. At March 31, 2024 , the Company was required to maintain approximately $ 1.8 billion in net capital in certain regulated subsidiaries, including BlackRock Institutional Trust Company, N.A. (a wholly owned subsidiary of the Company, which is chartered as a national bank whose powers are limited to trust and other fiduciary activities and which is subject to regulatory capital requirements administered by the US Office of the Comptroller of the Currency), entities regulated by the Financial Conduct Authority and Prudential Regulation Authority in the UK, and the Company’s broker-dealers. The Company was in compliance with all applicable regulatory net capital requirements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	18 . Accumulated Other Comprehensive Income (Loss) The following table presents changes in AOCI for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (in millions) 2024 2023 Beginning balance $ ( 840 ) $ ( 1,101 ) Foreign currency translation adjustments (1) ( 93 ) 126 Ending balance $ ( 933 ) $ ( 975 ) (1) Amount for the three months ended March 31, 2024 includes a gain from a net investment hedge of $ 13 million (net of tax expense of $ 4 million). Amount for the three months ended March 31, 2023 includes a loss from a net investment hedge of $ 10 million (net of tax benefit of $ 3 million).

Capital Stock

Capital Stock	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Capital Stock	19. Capital Stock Share Repurchases . During the three months ended March 31, 2024, the Company repurchased 0.5 million common shares under the Company’s existing share repurchase program for approximately $ 375 million . At March 31, 2024, there were approximately 5.3 million shares still authorized to be repurchased under the program. The timing and actual number of shares repurchased will depend on a variety of factors, including legal limitations, price and market conditions.

Restructuring Charge

Restructuring Charge	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring Charge	20 . Restructuring Charge In the fourth quarter of 2023, a restructuring charge of $ 61 million ($ 46 million after-tax), comprised of $ 47 million of severance and $ 14 million of compensation expense for accelerated vesting of previously granted deferred compensation awards, was recorded in connection with initiatives to reorganize specific platforms, primarily Aladdin and illiquid alternative investments. In the fourth quarter of 2022, a restructuring charge of $ 91 million ($ 69 million after-tax), comprised of $ 58 million of severance and $ 33 million of expense related to the accelerated amortization of previously granted stock-based compensation awards, was recorded in connection with an initiative to modify the size and shape of the workforce to align more closely with strategic priorities. The table below presents a rollforward of the Company's restructuring liability for the three months ended March 31, 2024, and 2023, which is included in other liabilities on the condensed consolidated statements of financial condition: Three Months Ended March 31, (in millions) 2024 2023 Beginning liability $ 47 $ 58 Cash payments ( 33 ) ( 34 ) Ending liability $ 14 $ 24

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	21 . Income Taxes Income tax expense for the three months ended March 31, 2024 included a discrete tax benefit of $ 137 million recognized in connection with the reorganization and establishment of a more efficient global intellectual property and technology platform and corporate structure. In addition, for the three months ended March 31, 2024 income tax expense included $ 28 million of discrete tax benefits, including a benefit related to stock-based compensation awards that vested in the first quarter. Income tax expense for the three months ended March 31, 2023 included $ 38 million of discrete tax benefits related to stock-based compensation awards that vested in the first quarter of 2023, offset by a $ 38 million discrete tax expense related to the resolution of certain outstanding tax matters.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	22 . Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three months ended March 31, 2024 and 2023 under the treasury stock method: Three Months Ended March 31, (in millions, except shares and per share data) 2024 2023 Net income attributable to BlackRock, Inc. $ 1,573 $ 1,157 Basic weighted-average shares outstanding 148,689,172 149,909,343 Dilutive effect of: Nonparticipating RSUs 944,335 1,007,476 Stock options 491,675 433,010 Total diluted weighted-average shares outstanding 150,125,182 151,349,829 Basic earnings per share $ 10.58 $ 7.72 Diluted earnings per share $ 10.48 $ 7.64 For the three months ended March 31, 2024 and 2023 , 338,300 shares primarily related to stock options and 394,076 RSUs, respectively, were excluded from the calculation of diluted EPS because to include them would have an anti-dilutive effect. Certain performance-based RSUs and options were excluded from diluted EPS calculation because the designated contingencies were not met for the three months ended March 31, 2024 and 2023 , respectively.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	23 . Segment Information The Company’s management directs BlackRock’s operations as one business, the asset management business. The Company utilizes a consolidated approach to assess performance and allocate resources. As such, the Company operates in one business segment. The following table illustrates total revenue for the three months ended March 31, 2024 and 2023 by geographic region. These amounts are aggregated on a legal entity basis and do not necessarily reflect where the customer resides or affiliated services are provided. Three Months Ended March 31, (in millions) 2024 2023 Revenue Americas $ 3,138 $ 2,831 Europe 1,403 1,224 Asia-Pacific 187 188 Total revenue $ 4,728 $ 4,243 See Note 15, Revenue , for further information on the Company’s sources of revenue. The following table illustrates long-lived assets that consist of goodwill and property and equipment at March 31, 2024 and December 31, 2023 by geographic region. These amounts are aggregated on a legal entity basis and do not necessarily reflect where the asset is physically located. March 31, December 31, (in millions) 2024 2023 Long-lived Assets Americas $ 15,012 $ 15,017 Europe 1,520 1,521 Asia-Pacific 96 98 Total long-lived assets $ 16,628 $ 16,636 Americas is primarily comprised of the US, Latin America and Canada. Europe is primarily comprised of the UK, the Netherlands, Switzerland, France, Ireland and Luxembourg. Asia-Pacific is primarily comprised of Hong Kong, Australia, Japan and Singapore.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	24 . Subsequent Events In January 2024, BlackRock announced that it had entered into a definitive agreement to acquire 100 % of the business and assets of GIP, a leading independent infrastructure fund manager, for $ 3 billion in cash and approximately 12 million shares of BlackRock common stock. Approximately 30 % of the total consideration, all in stock, will be deferred and will be issued subject to the satisfaction of certain post-closing events. The Company believes the combination of GIP with BlackRock’s complementary infrastructure offerings will create a broad global infrastructure franchise with differentiated origination and asset management capabilities. The GIP Transaction is expected to close in the third quarter of 2024 subject to regulatory approvals and other customary closing conditions. In May 2024, BlackRock completed the acquisition of the remaining equity interest in SpiderRock Advisors (“SRA”), a leading provider of customized option overlay strategies in the US wealth market. This transaction expands on BlackRock’s minority investment in SRA made in 2021 and reinforces BlackRock’s commitment to personalized separately managed accounts. The financial impact of the transaction is not material to BlackRock's condensed consolidated financial statements. The Company conducted a review for additional subsequent events and determined that no subsequent events had occurred that would require accrual or additional disclosures.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the accounts of the Company and its controlled subsidiaries. Noncontrolling interests (“NCI”) on the condensed consolidated statements of financial condition represent the portion of consolidated sponsored investment products (“CIPs”) and a consolidated affiliate (collectively, “consolidated entities”) in which the Company does not have direct equity ownership. Intercompany balances and transactions have been eliminated upon consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates. Certain financial information that normally is included in annual financial statements, including certain financial statement footnotes, is not required for interim reporting purposes and has been condensed or omitted herein. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and footnotes related thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission ("SEC") on February 23, 2024 (“2023 Form 10-K”). The interim financial information at March 31, 2024 and for the three months ended March 31, 2024 and 2023 is unaudited. However, in the opinion of management, the interim information includes all normal recurring adjustments necessary for the fair presentation of the Company’s results for the periods presented. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year. Certain prior period presentations were reclassified to ensure comparability with current period classifications.
Accounting Developments	Accounting Developments Segment Reporting. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires incremental disclosures about reportable segments but does not change the definition of a segment or the guidance for determining reportable segments. The new guidance requires disclosure of significant segment expenses that are (1) regularly provided to (or easily computed from information regularly provided to) the chief operating decision maker ("CODM") and (2) included in the reported measure of segment profit or loss. The new standard also requires companies to disclose the title and position of the individual (or the name of the committee) identified as the CODM, allows companies to disclose multiple measures of segment profit or loss if those measures are used to assess performance and allocate resources, and is applicable to companies with a single reportable segment. The requirements are effective for annual reporting periods beginning on January 1, 2024, and are required to be applied retrospectively. Early adoption is permitted. The Company does not expect the additional disclosure requirements under ASU 2023-07 to have a material impact on the consolidated financial statements. Income Tax Disclosure Requirements. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which enhances interim and annual income tax disclosures. The two primary enhancements disaggregate existing income tax disclosures related to the effective tax rate reconciliation and income taxes paid. The additional disclosure requirements under ASU 2023-09 are required to be applied prospectively and are effective for the Company on January 1, 2025. The Company does not expect the additional disclosure requirements under ASU 2023-09 to have a material impact on the consolidated financial statements.
Fair Value Measurements	Fair Value Measurements Hierarchy of Fair Value Inputs. The Company uses a fair value hierarchy that prioritizes inputs to valuation approaches used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. Assets and liabilities measured and reported at fair value are classified and disclosed in one of the following categories: Level 1 Inputs: Quoted prices (unadjusted) in active markets for identical assets or liabilities at the reporting date. • Level 1 assets may include listed mutual funds, ETFs, listed equities, commodities and certain exchange-traded derivatives. Level 2 Inputs: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; quotes from pricing services or brokers for which the Company can determine that orderly transactions took place at the quoted price or that the inputs used to arrive at the price are observable; and inputs other than quoted prices that are observable, such as models or other valuation methodologies. • Level 2 assets may include debt securities, loans held within consolidated collateralized loan obligations (“CLOs”), short-term floating-rate notes, asset-backed securities, as well as over-the-counter derivatives, including interest rate swaps and foreign currency exchange contracts that have inputs to the valuations that generally can be corroborated by observable market data. Level 3 Inputs: Unobservable inputs for the valuation of the asset or liability, which may include nonbinding broker quotes. Level 3 assets include investments for which there is little, if any, market activity. These inputs require significant management judgment or estimation. • Level 3 assets may include direct private equity investments, including those held within CIPs, investments in CLOs, and loans held within consolidated CLOs and CIPs. • Level 3 liabilities may include borrowings of consolidated CLOs and contingent liabilities related to acquisitions valued based upon discounted cash flow analyses using unobservable market data, or other valuation techniques. Significance of Inputs. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. Valuation Approaches. The fair values of certain Level 3 assets and liabilities were determined using various valuation approaches as appropriate, including third-party pricing vendors, broker quotes and market and income approaches. A significant number of inputs used to value equity, debt securities, and loans held within CLOs and CIPs are sourced from third-party pricing vendors. Generally, prices obtained from pricing vendors are categorized as Level 1 inputs for identical securities traded in active markets and as Level 2 for other similar securities if the vendor uses observable inputs in determining the price. In addition, quotes obtained from brokers generally are nonbinding and categorized as Level 3 inputs. However, if the Company is able to determine that market participants have transacted for the asset in an orderly manner near the quoted price or if the Company can determine that the inputs used by the broker are observable, the quote is classified as a Level 2 input. Investments Measured at Net Asset Value. As a practical expedient, the Company uses net asset value (“NAV”) as the fair value for certain investments. The inputs to value these investments may include the Company’s capital accounts for its partnership interests in various alternative investments, including hedge funds, real assets and private equity funds, which may be adjusted by using the returns of certain market indices. The various partnerships are investment companies, which record their underlying investments at fair value based on fair value policies established by management of the underlying fund. Fair value policies at the underlying fund generally require the fund to utilize pricing/valuation information from third-party sources, including independent appraisals. However, in some instances, current valuation information for illiquid securities or securities in markets that are not active may not be available from any third-party source or fund management may conclude that the valuations that are available from third-party sources are not reliable. In these instances, fund management may perform model-based analytical valuations that could be used as an input to value these investments. Fair Value Assets and Liabilities of Consolidated CLO. The Company applies the fair value option provisions for eligible assets, including loans, held by a consolidated CLO. As the fair value of the financial assets of the consolidated CLO is more observable than the fair value of the borrowings of the consolidated CLO, the Company measures the fair value of the borrowings of the consolidated CLO equal to the fair value of the assets of the consolidated CLO less the fair value of the Company’s economic interest in the CLO.
Derivatives and Hedging Activities	Derivatives and Hedging Activities . The Company does not use derivative financial instruments for trading or speculative purposes. The Company uses derivative financial instruments primarily for purposes of hedging exposures to fluctuations in foreign currency exchange rates of certain assets and liabilities, and market price and interest rate exposures with respect to its total portfolio of seed investments in sponsored investment products. Certain CIPs also utilize derivatives as a part of their investment strategies. In addition, the Company uses derivatives and makes investments to economically hedge market valuation changes on certain deferred cash compensation plans, for which the final value of the deferred amount distributed to employees in cash upon vesting is determined based on the returns of specified investment funds. The Company recognizes compensation expense for the appreciation (depreciation) of the deferred cash compensation liability in proportion to the vested amount of the award during a respective period, while the gain (loss) to economically hedge these plans is immediately recognized in nonoperating income (expense). See Note 4, Investments, and Note 8, Derivatives and Hedging , for further information on the Company’s investments and derivatives, respectively, used to economically hedge these deferred cash compensation plans. The Company records all derivative financial instruments as either assets or liabilities at fair value on a gross basis in the condensed consolidated statements of financial condition. Credit risks are managed through master netting and collateral support agreements. The amounts related to the right to reclaim or the obligation to return cash collateral may not be used to offset amounts due under the derivative instruments in the normal course of settlement. Therefore, such amounts are not offset against fair value amounts recognized for derivative instruments with the same counterparty and are included in other assets and other liabilities. Changes in the fair value of the Company’s derivative financial instruments are recognized in earnings and, where applicable, are offset by the corresponding gain or loss on the related foreign-denominated or hedged assets or liabilities, on the condensed consolidated statements of income. The Company may also use financial instruments designated as net investment hedges for accounting purposes to hedge net investments in international subsidiaries, the functional currency of which is not United States ("US") dollars. The gain or loss from revaluing net investment hedges at the spot rate is deferred and reported within accumulated other comprehensive income (loss) (“AOCI”) on the condensed consolidated statements of financial condition. The Company reassesses the effectiveness of its net investment hedge at least quarterly.
Separate Account Assets and Liabilities	Separate Account Assets and Liabilities . Separate account assets are maintained by BlackRock Life Limited, a wholly owned subsidiary of the Company, which is a registered life insurance company in the United Kingdom (“UK”), and represent segregated assets held for purposes of funding individual and group pension contracts. The life insurance company does not underwrite any insurance contracts that involve any insurance risk transfer from the insured to the life insurance company. The separate account assets primarily include equity securities, debt securities, money market funds and derivatives. The separate account assets are not subject to general claims of the creditors of BlackRock. These separate account assets and the related equal and offsetting liabilities are recorded as separate account assets and separate account liabilities on the condensed consolidated statements of financial condition. The net investment income attributable to separate account assets supporting individual and group pension contracts accrues directly to the contract owner and is not reported on the condensed consolidated statements of income. While BlackRock has no economic interest in these separate account assets and liabilities, BlackRock earns policy administration and management fees associated with these products, which are included in investment advisory, administration fees and securities lending revenue on the condensed consolidated statements of income.
Separate Account Collateral Assets Held and Liabilities Under Securities Lending Agreements	Separate Account Collateral Assets Held and Liabilities Under Securities Lending Agreements. The Company facilitates securities lending arrangements whereby securities held by separate accounts maintained by BlackRock Life Limited are lent to third parties under global master securities lending agreements. In exchange, the Company obtains either (1) the legal title, or (2) a first ranking priority security interest, in the collateral. The minimum collateral values generally range from approximately 102 % to 112 % of the value of the securities in order to reduce counterparty risk. The required collateral value is calculated on a daily basis. The global master securities lending agreements provide the Company the right to request additional collateral or, in the event of borrower default, the right to liquidate collateral. The securities lending transactions entered into by the Company are accompanied by an agreement that entitles the Company to request the borrower to return the securities at any time; therefore, these transactions are not reported as sales. In situations where the Company obtains the legal title to collateral under these securities lending arrangements, the Company records an asset on the condensed consolidated statements of financial condition in addition to an equal collateral liability for the obligation to return the collateral. Additionally, in situations where the Company obtains a first ranking priority security interest in the collateral, the Company does not have the ability to pledge or resell the collateral and therefore does not record the collateral on the condensed consolidated statements of financial condition. At March 31, 2024 and December 31, 2023 , the fair value of loaned securities held by separate accounts was approximately $ 8.3 billion and $ 9.3 billion, respectively, and the fair value of the collateral under these securities lending agreements was approximately $ 9.0 billion and $ 10.1 billion, respectively, of which approximately $ 4.0 billion as of March 31, 2024 and $ 4.6 billion as of December 31, 2023 was recognized on the condensed consolidated statements of financial condition. During the three months ended March 31, 2024 and 2023 , the Company had no t resold or repledged any of the collateral obtained under these arrangements. The securities lending revenue earned from lending securities held by the separate accounts is included in investment advisory, administration fees and securities lending revenue on the condensed consolidated statements of income .

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2024
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents reported within the condensed consolidated statements of financial condition to the cash, cash equivalents, and restricted cash reported within the condensed consolidated statements of cash flows. March 31, December 31, (in millions) 2024 2023 Cash and cash equivalents $ 9,374 $ 8,736 Restricted cash included in other assets 17 17 Total cash, cash equivalents and restricted cash $ 9,391 $ 8,753

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Investments Debt And Equity Securities [Abstract]
Summary of Carrying Value of Total Investments	A summary of the carrying value of total investments is as follows: March 31, December 31, (in millions) 2024 2023 Debt securities: Trading securities (including $ 1,635 and $ 1,829 held by CIPs at $ 1,683 $ 1,871 Held-to-maturity investments 611 617 Total debt securities 2,294 2,488 Equity securities at FVTNI (including $ 1,939 and $ 1,429 held by CIPs at (1) 2,096 1,585 Equity method investments: Equity method investments (2) 2,476 2,515 Investments related to deferred cash compensation plans (1) 188 241 Total equity method investments 2,664 2,756 Loans held by CIPs 559 205 Federal Reserve Bank stock (3) 92 92 Carried interest (4) 1,864 1,975 Other investments (1)(5) 768 639 Total investments $ 10,337 $ 9,740 (1) Amounts include investments held to economically hedge the impact of market valuation changes on certain deferred cash compensation plans of $ 188 million, $ 12 million and $ 10 million included within equity method investments, equity securities at fair value recorded through net income ("FVTNI") and other investments, respectively, as of March 31, 2024. Amounts as of December 31, 2023 were $ 241 million, $ 14 million, and $ 9 million, respectively. (2) Equity method investments primarily include BlackRock’s direct investments in certain BlackRock sponsored investment funds. (3) Federal Reserve Bank stock is held for regulatory purposes and is restricted from sale. (4) Carried interest represents allocations to BlackRock’s general partner capital accounts from certain sponsored investment funds. These balances are subject to change upon cash distributions, additional allocations or reallocations back to limited partners within the respective funds. Other investments include BlackRock’s investments in nonmarketable equity securities, which are measured at cost, adjusted for observable price changes, a loan held at amortized cost, and private equity, real asset, and commodity investments held by CIPs, which are measured at fair value.
Summary of Cost and Carrying Value of Equity and Trading Debt Securities	A summary of the cost and carrying value of trading debt securities and equity securities at FVTNI is as follows: March 31, 2024 December 31, 2023 (in millions) Cost Carrying Cost Carrying Trading debt securities: Corporate debt $ 947 $ 940 $ 1,225 $ 1,218 Government debt 566 556 501 489 Asset/mortgage-backed debt 210 187 185 164 Total trading debt securities $ 1,723 $ 1,683 $ 1,911 $ 1,871 Equity securities at FVTNI: Equity securities/mutual funds $ 1,994 $ 2,096 $ 1,520 $ 1,585

Consolidated Sponsored Invest_2

Consolidated Sponsored Investment Products (Tables)	3 Months Ended
	Mar. 31, 2024
Statement Of Financial Position [Abstract]
Consolidated VIEs And VREs Recorded in Condensed Consolidated Statements of Financial Condition	The following table presents the balances related to these CIPs accounted for as VIEs and VREs that were recorded on the condensed consolidated statements of financial condition, including BlackRock’s net interest in these products: March 31, 2024 December 31, 2023 (in millions) VIEs VREs Total VIEs VREs Total Cash and cash equivalents (1) $ 277 $ 105 $ 382 $ 234 $ 54 $ 288 Investments: Trading debt securities 1,175 460 1,635 1,423 406 1,829 Equity securities at FVTNI 1,349 590 1,939 1,059 370 1,429 Loans 545 14 559 195 10 205 Other investments 432 151 583 427 171 598 Carried interest 1,790 — 1,790 1,916 — 1,916 Total investments 5,291 1,215 6,506 5,020 957 5,977 Other assets 82 35 117 83 39 122 Other liabilities (2) ( 2,114 ) ( 150 ) ( 2,264 ) ( 2,233 ) ( 108 ) ( 2,341 ) Noncontrolling interest - CIPs ( 1,641 ) ( 313 ) ( 1,954 ) ( 1,625 ) ( 226 ) ( 1,851 ) BlackRock's net interest in CIPs $ 1,895 $ 892 $ 2,787 $ 1,479 $ 716 $ 2,195 (1) The Company generally cannot readily access cash and cash equivalents held by CIPs to use in its operating activities. (2) At both March 31, 2024 and December 31, 2023 , other liabilities of VIEs primarily include deferred carried interest liabilities and borrowings of a consolidated CLO.
Schedule of Nonoperating Gains (Loss) Related to Consolidated Variable Interest Entity	Net gain (loss) related to consolidated VIEs is presented in the following table: Three Months Ended March 31, (in millions) 2024 2023 Nonoperating net gain (loss) on consolidated VIEs $ 71 $ 59 Net income (loss) attributable to NCI on consolidated VIEs $ 39 $ 12

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2024
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Schedule of VIE Assets and Liabilities	At March 31, 2024 and December 31, 2023, the Company’s carrying value of assets and liabilities included on the condensed consolidated statements of financial condition pertaining to nonconsolidated VIEs and its maximum risk of loss related to VIEs for which it held a variable interest, but for which it was not the primary beneficiary, was as follows: Advisory Fee Other Net Assets Maximum (in millions) Investments Receivables (Liabilities) Risk of Loss (1) March 31, 2024 Sponsored investment $ 2,427 $ 114 $ ( 11 ) $ 2,558 December 31, 2023 Sponsored investment $ 2,377 $ 116 $ ( 11 ) $ 2,510 (1) At both March 31, 2024 and December 31, 2023 , BlackRock’s maximum risk of loss associated with these VIEs primarily related to BlackRock’s investments and the collection of advisory fee receivables.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis March 31, 2024 (in millions) Quoted Prices Significant Significant Investments (1) Other (2) March 31, Assets: Investments Debt securities: Trading securities $ — $ 1,635 $ 48 $ — $ — $ 1,683 Held-to-maturity investments — — — — 611 611 Total debt securities — 1,635 48 — 611 2,294 Equity securities at FVTNI: Equity securities/mutual funds 2,096 — — — — 2,096 Equity method: Equity, fixed income, and multi-asset 235 — — — — 235 Hedge funds/funds of hedge — — — 623 — 623 Private equity funds — — — 1,186 — 1,186 Real assets funds — — — 432 — 432 Investments related to deferred — — — 188 — 188 Total equity method 235 — — 2,429 — 2,664 Loans — 34 525 — — 559 Federal Reserve Bank Stock — — — — 92 92 Carried interest — — — — 1,864 1,864 Other investments 17 — — 455 296 768 Total investments 2,348 1,669 573 2,884 2,863 10,337 Other assets (3) 136 3 138 — — 277 Separate account assets 34,791 20,066 — — 519 55,376 Separate account collateral held under securities lending agreements: Equity securities 1,566 — — — — 1,566 Debt securities — 2,432 — — — 2,432 Total separate account collateral held 1,566 2,432 — — — 3,998 Total $ 38,841 $ 24,170 $ 711 $ 2,884 $ 3,382 $ 69,988 Liabilities: Separate account collateral $ 1,566 $ 2,432 $ — $ — $ — $ 3,998 Other liabilities (4) — 24 258 — — 282 Total $ 1,566 $ 2,456 $ 258 $ — $ — $ 4,280 (1) Amounts are comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. (2) Amounts are comprised of investments held at amortized cost and cost, adjusted for observable price changes, and carried interest. (3) Level 1 amount includes a minority investment in a publicly traded company. Level 3 amount includes corporate minority private debt investments with changes in fair value recorded in AOCI, net of tax. (4) Level 2 amount primarily includes fair value of derivatives (See Note 8, Derivatives and Hedging , for more information). Level 3 amount primarily includes borrowings of a consolidated CLO classified based on the significance of unobservable inputs used for calculating the fair value of consolidated CLO assets, and contingent liabilities related to certain acquisitions. December 31, 2023 (in millions) Quoted Prices Significant Significant Investments (1) Other (2) December 31, Assets: Investments Debt securities: Trading securities $ — $ 1,829 $ 42 $ — $ — $ 1,871 Held-to-maturity investments — — — — 617 617 Total debt securities — 1,829 42 — 617 2,488 Equity securities at FVTNI: Equity securities/mutual funds 1,585 — — — — 1,585 Equity method: Equity, fixed income, and multi-asset 246 — — — — 246 Hedge funds/funds of hedge — — — 588 — 588 Private equity funds — — — 1,264 — 1,264 Real assets funds — — — 417 — 417 Investments related to deferred cash — — — 241 — 241 Total equity method 246 — — 2,510 — 2,756 Loans — 30 175 — — 205 Federal Reserve Bank Stock — — — — 92 92 Carried interest — — — — 1,975 1,975 Other investments 15 — — 467 157 639 Total investments 1,846 1,859 217 2,977 2,841 9,740 Other assets (3) 117 19 120 — — 256 Separate account assets 34,621 20,810 — — 667 56,098 Separate account collateral held under securities lending agreements: Equity securities 1,686 — — — — 1,686 Debt securities — 2,872 — — — 2,872 Total separate account collateral held 1,686 2,872 — — — 4,558 Total $ 38,270 $ 25,560 $ 337 $ 2,977 $ 3,508 $ 70,652 Liabilities: Separate account collateral $ 1,686 $ 2,872 $ — $ — $ — $ 4,558 Other liabilities (4) — 17 279 — — 296 Total $ 1,686 $ 2,889 $ 279 $ — $ — $ 4,854 (1) Amounts are comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. (2) Amounts are comprised of investments held at amortized cost and cost, adjusted for observable price changes, and carried interest. (3) Level 1 amount includes a minority investment in a publicly traded company. Level 3 amount includes a corporate minority private debt investment with changes in fair value recorded in AOCI, net of tax. (4) Level 2 amount primarily includes fair value of derivatives (See Note 8, Derivatives and Hedging , for more information). Level 3 amount primarily includes borrowings of a consolidated CLO classified based on the significance of unobservable inputs used for calculating the fair value of consolidated CLO assets, and a contingent liability related to certain acquisitions.
Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis	Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended March 31, 2024 (in millions) December 31, Realized Purchases Sales and Issuances and (1) Transfers Transfers March 31, Total Net (2) Assets: Investments: Debt securities: Trading $ 42 $ ( 1 ) $ 7 $ — $ — $ — $ — $ 48 $ ( 1 ) Total debt securities 42 ( 1 ) 7 — — — — 48 ( 1 ) Loans 175 2 365 ( 17 ) — 3 ( 3 ) 525 2 Total investments 217 1 372 ( 17 ) — 3 ( 3 ) 573 1 Other assets 120 ( 7 ) 25 — — — — 138 ( 7 ) Total assets $ 337 $ ( 6 ) $ 397 $ ( 17 ) $ — $ 3 $ ( 3 ) $ 711 $ ( 6 ) Liabilities: Other liabilities $ 279 $ 6 $ — $ — $ ( 15 ) $ — $ — $ 258 $ 6 (1) Amounts include repayments of borrowings of a consolidated CLO. (2) Earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at the reporting date. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended March 31, 2023 (in millions) December 31, Realized Purchases Sales and Issuances and (1) Transfers Transfers March 31, Total Net (2) Assets: Investments: Debt securities: Trading $ 52 $ 1 $ 2 $ — $ — $ — $ — $ 55 $ 1 Total debt securities 52 1 2 — — — — 55 1 Loans 248 6 12 ( 20 ) — 5 ( 4 ) 247 6 Total investments $ 300 $ 7 $ 14 $ ( 20 ) $ — $ 5 $ ( 4 ) $ 302 $ 7 Liabilities: Other liabilities $ 280 $ 4 $ — $ — $ ( 19 ) $ — $ — $ 257 $ 4 (1) Amounts include repayments of borrowings of a consolidated CLO. (2) Earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at the reporting date.
Fair Value of Financial Assets and Financial Liabilities	Disclosures of Fair Value for Financial Instruments Not Held at Fair Value . At March 31, 2024 and December 31, 2023, the fair value of the Company’s financial instruments not held at fair value are categorized in the table below: March 31, 2024 December 31, 2023 (in millions) Carrying Estimated Carrying Estimated Fair Value Financial Assets (1) : Cash and cash equivalents $ 9,374 $ 9,374 $ 8,736 $ 8,736 Level 1 (2)(3) Other assets $ 90 $ 90 $ 80 $ 80 Level 1 (2)(4) Financial Liabilities: Long-term borrowings $ 9,860 $ 9,330 $ 7,918 $ 7,413 Level 2 (5) (1) See Note 4, Investments , for further information on investments not held at fair value. (2) Cash and cash equivalents are carried at either cost or amortized cost, which approximates fair value due to their short-term maturities. (3) At March 31, 2024 and December 31, 2023 , approximately $ 4.3 billion and $ 3.4 billion, respectively, of money market funds were recorded within cash and cash equivalents on the condensed consolidated statements of financial condition. Money market funds are valued based on quoted market prices, or $ 1.00 per share, which generally is the NAV of the fund. (4) At March 31, 2024 and December 31, 2023, other assets included cash collateral of approximately $ 73 million and $ 63 million , respectively. See Note 8, Derivatives and Hedging for further information on derivatives held by the Company. In addition, other assets included $ 17 million of restricted cash at both March 31, 2024 and December 31, 2023. (5) Long-term borrowings are recorded at amortized cost, net of debt issuance costs. The fair value of the long-term borrowings, including the current portion of long-term borrowings, is determined using market prices and the EUR/USD foreign exchange rate at the end of March 2024 and December 2023, respectively. See Note 13, Borrowings , for the fair value of each of the Company’s long-term borrowings.
Investments in Certain Entities that Calculate Net Asset Value per Share	The following tables list information regarding all investments that use a fair value measurement to account for both their financial assets and financial liabilities in their calculation of a NAV per share (or equivalent). March 31, 2024 (in millions) Ref Fair Value Total Redemption Redemption Equity method (1) : Hedge funds/funds of hedge (a) $ 623 $ 129 Daily/Monthly ( 11 %) 7 %) 82 %) 1 – 90 days Private equity funds (b) 1,186 236 N/R N/R Real assets funds (c) 432 237 Quarterly ( 9 %) 91 %) 60 days Investments related to deferred (e) 188 — Monthly 1 – 90 days Consolidated sponsored Real assets funds (c) 158 58 N/R N/R Private equity funds (d) 126 19 N/R N/R Hedge funds/other (a) 171 43 Quarterly ( 83 %) 17 %) 90 days Total $ 2,884 $ 722 December 31, 2023 (in millions) Ref Fair Value Total Redemption Redemption Equity method (1): Hedge funds/funds of hedge (a) $ 588 $ 134 Daily/Monthly ( 4 %) 8 %) 88 %) 1 – 90 days Private equity funds (b) 1,264 218 N/R N/R Real assets funds (c) 417 210 Quarterly ( 10 %) 90 %) 60 days Investments related to deferred (e) 241 — Monthly 1 – 90 days Consolidated sponsored Real assets funds (c) 154 62 N/R N/R Private equity funds (d) 145 37 N/R N/R Hedge funds/other (a) 168 64 Quarterly ( 83 %) 17 %) 90 days Total $ 2,977 $ 725 N/R – Not Redeemable (1) Comprised of equity method investments, which include investment companies that account for their financial assets and most financial liabilities under fair value measures; therefore, the Company’s investment in such equity method investees approximates fair value. (a) This category includes hedge funds, funds of hedge funds, and other funds that invest primarily in equities, fixed income securities, private credit, opportunistic and mortgage instruments and other third-party hedge funds. The fair values of the investments have been estimated using the NAV of the Company’s ownership interest in partners’ capital. The liquidation period for the investments in the funds that are not subject to redemption is unknown at both March 31, 2024 and December 31, 2023. (b) This category includes private equity funds that initially invest in nonmarketable securities of private companies, which ultimately may become public in the future. The fair values of these investments have been estimated using capital accounts representing the Company’s ownership interest in the funds and may also include other performance inputs. The Company’s investment in each fund is not subject to redemption and is normally returned through distributions as a result of the liquidation of the underlying assets of the private equity funds. The liquidation period for the investments in these funds is unknown at both March 31, 2024 and December 31, 2023. (c) This category includes several real assets funds that invest directly and indirectly in real estate or infrastructure. The fair values of the investments have been estimated using capital accounts representing the Company’s ownership interest in the funds. The Company’s investments that are not subject to redemption or are not currently redeemable are normally returned through distributions and realizations of the underlying assets of the funds. The liquidation period for the investments in the funds that are not subject to redemptions is unknown at both March 31, 2024 and December 31, 2023. The total remaining unfunded commitments were $ 295 million and $ 272 million at March 31, 2024 and December 31, 2023, respectively. The Company’s portion of the total remaining unfunded commitments was $ 268 million and $ 248 million at March 31, 2024 and December 31, 2023, respectively. (d) This category includes the underlying third-party private equity funds within consolidated BlackRock sponsored private equity funds of funds. These investments are not subject to redemption or are not currently redeemable; however, for certain funds, the Company may sell or transfer its interest, which may need approval by the general partner of the underlying funds. Due to the nature of the investments in this category, the Company reduces its investment by distributions that are received through the realization of the underlying assets of the funds. The liquidation period for the underlying assets of these funds is unknown. (e) This category includes hedge funds and funds of hedge funds that invest primarily in equities, fixed income securities, mortgage instruments and other third-party hedge funds. The fair values of the investments have been estimated using the NAV of the Company’s ownership interest in partners’ capital. The investments in hedge funds will be redeemed upon settlement of certain deferred cash compensation liabilities.
Summary of Information Related to Bank Loans and Borrowings of Consolidated CLO Recorded within Investments and Borrowings of Consolidated VIEs Respectively for which Fair Value Option was Elected	In addition, the Company elected the fair value option for bank loans and borrowings of a consolidated CLO, recorded within investments and other liabilities, respectively. The following table summarizes the information related to these bank loans and borrowings at March 31, 2024 and December 31, 2023: March 31, December 31, (in millions) 2024 2023 CLO loans: Aggregate principal amounts outstanding $ 195 $ 203 Fair value 183 194 Aggregate unpaid principal balance in excess of (less than) fair value $ 12 $ 9 CLO Borrowings: Aggregate principal amounts outstanding $ 180 $ 190 Fair value $ 169 $ 180

Derivative and Hedging (Tables)

Derivative and Hedging (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Fair Values of Derivatives Instruments Recognized in Condensed Consolidated Statements of Financial Condition	The following table presents the fair values of derivative instruments recognized in the condensed consolidated statements of financial condition at March 31, 2024 and December 31, 2023: Assets Liabilities (in millions) Statement of March 31, 2024 December 31, 2023 Statement of March 31, 2024 December 31, 2023 Derivative Instruments Forward foreign currency Other assets $ 3 $ 19 Other liabilities $ 13 $ 6
Summary of Realized and Unrealized Gains (Losses) Recognized in Condensed Consolidated Statements of Income on Derivative Instruments	The following table presents realized and unrealized gains (losses) recognized in the condensed consolidated statements of income on derivative instruments: Three Months Ended March 31, Statement of Income 2024 2023 (in millions) Classification Gains (Losses) Derivative Instruments Exchange traded futures (1) Net gain (loss) on investments $ ( 32 ) $ ( 45 ) Forward foreign currency General and administration expense ( 5 ) 40 Total gain (loss) from derivative $ ( 37 ) $ ( 5 ) (1) Amounts include $ 43 million and $ 54 million of losses on futures used in a macro hedging strategy of seed investments for the three months ended March 31, 2024 and 2023, respectively. In addition, amounts include $ 11 million and $ 9 million of gains on futures used to economically hedge certain deferred cash compensation plans for the three months ended March 31, 2024 and 2023 , respectively.

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill Activity	Goodwill activity during the three months ended March 31, 2024 was as follows: (in millions) December 31, 2023 $ 15,524 Other ( 2 ) March 31, 2024 $ 15,522

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill And Intangible Assets Disclosure [Abstract]
Carrying Amounts of Identifiable Intangible Assets	The carrying amounts of identifiable intangible assets are summarized as follows: (in millions) Indefinite-lived Finite-lived Total December 31, 2023 $ 17,578 $ 680 $ 18,258 Amortization expense — ( 38 ) ( 38 ) Other — ( 1 ) ( 1 ) March 31, 2024 $ 17,578 $ 641 $ 18,219

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Components of Lease Cost	The following table presents components of lease cost included in general and administration expense on the condensed consolidated statements of income: Three Months Ended March 31, (in millions) 2024 2023 Lease cost: Operating lease cost (1) $ 45 $ 55 Variable lease cost (2) 14 11 Total lease cost $ 59 $ 66 (1) Amounts include short-term leases, which are immaterial for the three months ended March 31, 2024 and 2023 . (2) Amounts include operating lease payments, which may be adjusted based on usage, changes in an index or market rate, as well as common area maintenance charges and other variable costs not included in the measurement of right-of-use (“ROU”) assets and operating lease liabilities.
Schedule of Supplemental Information Related to Operating Lease	Supplemental information related to operating leases is summarized below: Three Months Ended March 31, (in millions) 2024 2023 Supplemental cash flow information: Operating cash flows from operating leases included in the measurement $ 44 $ 42 Supplemental noncash information: ROU assets in exchange for operating lease liabilities $ 27 $ 11 March 31, December 31, 2024 2023 Lease term and discount rate: Weighted-average remaining lease term 15 years 15 years Weighted-average discount rate 3 % 3 %

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Carrying Value and Fair Value of Long-Term Borrowings Determined Market Prices EUR/USD Foreign Exchange Rate	The carrying value and fair value of long-term borrowings determined using market prices and EUR/USD foreign exchange rate at March 31, 2024 included the following: (in millions) Maturity Unamortized (1) Carrying Value Fair Value 1.25% Notes due 2025 $ 756 $ ( 1 ) $ 755 $ 738 3.20% Notes due 2027 700 ( 2 ) 698 671 3.25% Notes due 2029 1,000 ( 7 ) 993 935 4.70% Notes due 2029 (2) 500 ( 4 ) 496 500 2.40% Notes due 2030 1,000 ( 4 ) 996 876 1.90% Notes due 2031 1,250 ( 8 ) 1,242 1,039 2.10% Notes due 2032 1,000 ( 12 ) 988 819 4.75% Notes due 2033 1,250 ( 18 ) 1,232 1,239 5.00% Notes due 2034 (2) 1,000 ( 8 ) 992 1,004 5.25% Notes due 2054 (2) 1,500 ( 32 ) 1,468 1,509 Total long-term borrowings $ 9,956 $ ( 96 ) $ 9,860 $ 9,330 (1) The unamortized discount and debt issuance costs are being amortized over the term of the notes. (2) Issued by BlackRock Funding and guaranteed by BlackRock.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue From Contract With Customer [Abstract]
Summary of Investment Advisory, Administration Fees and Securities Lending Revenue by Type	The table below presents detail of revenue for the three months ended March 31, 2024 and 2023 and includes the product mix of investment advisory, administration fees and securities lending revenue, and performance fees. Three Months Ended March 31, (in millions) 2024 2023 Revenue Investment advisory, administration fees and Equity: Active $ 516 $ 500 ETFs 1,190 1,078 Non-ETF index 187 177 Equity subtotal 1,893 1,755 Fixed income: Active 484 468 ETFs 327 295 Non-ETF index 92 87 Fixed income subtotal 903 850 Multi-asset 314 296 Alternatives: Illiquid alternatives 240 201 Liquid alternatives 138 145 Currency and commodities (1) 45 46 Alternatives subtotal 423 392 Long-term 3,533 3,293 Cash management 245 209 Total investment advisory, administration fees 3,778 3,502 Investment advisory performance fees: Equity 8 6 Fixed income 4 1 Multi-asset 2 15 Alternatives: Illiquid alternatives 125 21 Liquid alternatives 65 12 Alternatives subtotal 190 33 Total investment advisory performance fees 204 55 Technology services revenue 377 340 Distribution fees 310 319 Advisory and other revenue: Advisory 13 14 Other 46 13 Total advisory and other revenue 59 27 Total revenue $ 4,728 $ 4,243 (1) Amounts include commodity ETFs. The tables below present the investment advisory, administration fees and securities lending revenue by client type and investment style: Three Months Ended March 31, (in millions) 2024 2023 By client type: Retail $ 1,041 $ 1,032 ETFs 1,567 1,418 Institutional: Active 697 622 Index 228 221 Total institutional 925 843 Long-term 3,533 3,293 Cash management 245 209 Total $ 3,778 $ 3,502 By investment style: Active $ 1,681 $ 1,606 Index and ETFs 1,852 1,687 Long-term 3,533 3,293 Cash management 245 209 Total $ 3,778 $ 3,502
Schedule of Estimated Investment Advisory, Administration Fees Expected to be Recognized in Future, Related to Unsatisfied Portion of Performance Obligations	The tables below present estimated investment advisory and administration fees expected to be recognized in the future related to the unsatisfied portion of the performance obligations at March 31, 2024 and 2023: March 31, 2024 Remainder of (in millions) 2024 2025 2026 2027 Thereafter Total Investment advisory and Alternatives (1)(2) $ 152 $ 180 $ 159 $ 119 $ 49 $ 659 March 31, 2023 Remainder of (in millions) 2023 2024 2025 2026 Thereafter Total Investment advisory and Alternatives (1)(2) $ 123 $ 120 $ 87 $ 67 $ 49 $ 446 (1) Investment advisory and administration fees include management fees related to certain alternative products, which are based on contractual committed capital outstanding at March 31, 2024 and 2023. Actual management fees could be higher to the extent additional committed capital is raised. These fees are generally billed on a quarterly basis in arrears. (2) The Company elected the following practical expedients and therefore does not include amounts related to (a) performance obligations with an original duration of one year or less, and (b) variable consideration related to future service periods.
Schedule of Changes in Deferred Carried Interest Liability	The table below presents changes in the deferred carried interest liability, which is included in other liabilities on the condensed consolidated statements of financial condition, for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (in millions) 2024 2023 Beginning balance $ 1,783 $ 1,420 Net increase (decrease) in unrealized allocations 142 54 Performance fee revenue recognized ( 111 ) ( 16 ) Ending balance $ 1,814 $ 1,458
Schedule of Estimated Technology Services Revenue Expected to Be Recognized in Future, Related to Unsatisfied Portion of Performance Obligations	The tables below present estimated technology services revenue expected to be recognized in the future related to the unsatisfied portion of the performance obligations at March 31, 2024 and 2023: March 31, 2024 Remainder of (in millions) 2024 2025 2026 2027 Thereafter Total Technology services revenue (1)(2) $ 104 $ 76 $ 59 $ 33 $ 31 $ 303 March 31, 2023 Remainder of (in millions) 2023 2024 2025 2026 Thereafter Total Technology services revenue (1)(2) $ 87 $ 56 $ 37 $ 26 $ 18 $ 224 (1) Technology services revenue primarily includes upfront payments from customers, which the Company generally recognizes as services are performed. (2) The Company elected the following practical expedients and therefore does not include amounts related to (a) performance obligations with an original duration of one year or less, and (b) variable consideration related to future service periods.
Schedule of Changes in Technology Services Deferred Revenue Liability	The table below presents changes in the technology services deferred revenue liability for the three months ended March 31, 2024 and 2023, which is included in other liabilities on the condensed consolidated statements of financial condition: Three Months Ended March 31, (in millions) 2024 2023 Beginning balance $ 133 $ 125 Additions (1) 25 21 Revenue recognized that was included ( 28 ) ( 26 ) Ending balance $ 130 $ 120 (1) Amounts are net of revenue recognized.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Stock Option Activity	Stock option activity and ending balance for the three months ended March 31, 2024 is summarized below. 2017 Performance-based 2023 Performance-based 2023 Time-based Shares Weighted Shares Weighted Shares Weighted Outstanding at December 31, 2023 1,549,080 $ 513.50 807,695 $ 673.58 326,391 $ 673.58 Exercised ( 279,828 ) $ 513.50 — $ — — $ — Forfeited — $ — ( 40,725 ) $ 673.58 — $ — Outstanding at March 31, 2024 1,269,252 $ 513.50 766,970 $ 673.58 326,391 $ 673.58 Options Outstanding Options Exercisable Option Type Exercise Prices Options Outstanding (1) Weighted Average Remaining Life (years) Aggregate Exercise Prices Options Weighted Average Remaining Life (years) Aggregate 2017 Performance-based $ 513.50 1,269,252 2.7 $ 406 $ 513.50 711,328 2.7 $ 228 2023 Performance-based $ 673.58 766,970 8.2 123 $ 673.58 — — — 2023 Time-based $ 673.58 326,391 8.2 52 $ 673.58 — — — 2,362,613 5.2 $ 581 711,328 2.7 $ 228 (1) At March 31, 2024, 0.6 million 2017 performance-based options, 0.8 million 2023 performance-based options and 0.3 million 2023 time-based options were expected to vest. At March 31, 2024 , total unrecognized stock-based compensation expense related to unvested performance-based stock options was $ 141 million. The unrecognized compensation cost is expected to be recognized over the remaining weighted-average period of 3.2 years.
Restricted Stock Units (RSUs) [Member]
RSU Activity	RSU activity for the three months ended March 31, 2024 is summarized below. Outstanding at RSUs Weighted- December 31, 2023 1,772,639 $ 757.49 Granted 813,233 $ 802.17 Converted ( 679,259 ) $ 760.44 Forfeited ( 15,646 ) $ 783.74 March 31, 2024 1,890,967 $ 775.42
Performance-Based RSUs [Member]
RSU Activity	Performance-based RSU activity for the three months ended March 31, 2024 is summarized below. Outstanding at Performance- Weighted- December 31, 2023 456,384 $ 767.69 Granted 165,631 $ 798.83 Reduction of shares due to performance measures ( 42,341 ) $ 739.22 Converted ( 115,631 ) $ 739.22 March 31, 2024 464,043 $ 788.49
Performance Based Stock Options [Member]
Schedule of Fair Value of Market Performance-Based Award at Grant Date	Performance-Based Stock Options In 2017, pursuant to the Award Plan, the Company awarded performance-based stock option grants to certain employees ("2017 Performance-based Options"). Vesting of 2017 Performance-based Options was contingent upon the achievement of obtaining 125 % of BlackRock's grant-date stock price within five years from the grant date and the attainment of Company performance measures during the four-year performance period. Both hurdles have been achieved, and the first two tranches of the awards vested at the end of 2022 and 2023 , respectively, with the final equal installment vesting at the end of 2024 . Vested options are exercisable for up to nine years following the grant date. The awards are generally forfeited if the employee leaves the Company before the respective vesting date. The expense for each tranche is amortized over the respective requisite service period. The aggregate intrinsic value of 2017 Performance-based Options exercised during the three months ended March 31, 2024 was $ 82 million. On May 30, 2023, pursuant to the Award Plan, the Company awarded performance-based options to purchase 814,482 shares of BlackRock common stock to certain employees as long-term incentive compensation ("2023 Performance-based Options"). Vesting of 2023 Performance-based Options is contingent upon the achievement of obtaining 130 % of grant-date stock price over 60 calendar days within four year s from the grant date and attainment of Company performance measures during the three-year performance period. If both hurdles are achieved, the award will vest in three tranches of 25 %, 25 % and 50 % in May of 2027 , 2028 and 2029 , respectively. Vested options are exercisable for up to nine years following the grant date, and the awards are forfeited if the employee resigns before the respective vesting date. The expense for each tranche is amortized over the respective requisite service period.
Time Based Stock Options
Schedule of Fair Value of Market Performance-Based Award at Grant Date	Time-Based Stock Options On May 30, 2023, pursuant to the Award Plan, the Company awarded time-based stock options to purchase 326,391 shares of BlackRock common stock to certain employees as long-term incentive compensation ("2023 Time-based Options"). These awards will vest in three tranches of 25 %, 25 % and 50 % in May 2027 , 2028 and 2029 , respectively. Vested options can be exercised up to nine years following the grant date, and the awards are forfeited if the employee resigns before the respective vesting date. See Note 17, Stock-Based Compensation, in the 2023 Form 10-K for more information on RSUs, performance-based RSUs and stock options.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Changes in AOCI	The following table presents changes in AOCI for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (in millions) 2024 2023 Beginning balance $ ( 840 ) $ ( 1,101 ) Foreign currency translation adjustments (1) ( 93 ) 126 Ending balance $ ( 933 ) $ ( 975 ) (1) Amount for the three months ended March 31, 2024 includes a gain from a net investment hedge of $ 13 million (net of tax expense of $ 4 million). Amount for the three months ended March 31, 2023 includes a loss from a net investment hedge of $ 10 million (net of tax benefit of $ 3 million).

Restructuring Charge (Tables)

Restructuring Charge (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Rollforward of Restructuring Liability Included in Other Liabilities	The table below presents a rollforward of the Company's restructuring liability for the three months ended March 31, 2024, and 2023, which is included in other liabilities on the condensed consolidated statements of financial condition: Three Months Ended March 31, (in millions) 2024 2023 Beginning liability $ 47 $ 58 Cash payments ( 33 ) ( 34 ) Ending liability $ 14 $ 24

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings per Share ("EPS") under Treasury Stock Method	The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three months ended March 31, 2024 and 2023 under the treasury stock method: Three Months Ended March 31, (in millions, except shares and per share data) 2024 2023 Net income attributable to BlackRock, Inc. $ 1,573 $ 1,157 Basic weighted-average shares outstanding 148,689,172 149,909,343 Dilutive effect of: Nonparticipating RSUs 944,335 1,007,476 Stock options 491,675 433,010 Total diluted weighted-average shares outstanding 150,125,182 151,349,829 Basic earnings per share $ 10.58 $ 7.72 Diluted earnings per share $ 10.48 $ 7.64

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Total Revenue by Geographic Region	The following table illustrates total revenue for the three months ended March 31, 2024 and 2023 by geographic region. These amounts are aggregated on a legal entity basis and do not necessarily reflect where the customer resides or affiliated services are provided. Three Months Ended March 31, (in millions) 2024 2023 Revenue Americas $ 3,138 $ 2,831 Europe 1,403 1,224 Asia-Pacific 187 188 Total revenue $ 4,728 $ 4,243
Schedule of Long-Lived Assets by Geographic Region	The following table illustrates long-lived assets that consist of goodwill and property and equipment at March 31, 2024 and December 31, 2023 by geographic region. These amounts are aggregated on a legal entity basis and do not necessarily reflect where the asset is physically located. March 31, December 31, (in millions) 2024 2023 Long-lived Assets Americas $ 15,012 $ 15,017 Europe 1,520 1,521 Asia-Pacific 96 98 Total long-lived assets $ 16,628 $ 16,636

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Significant Accounting Policies [Line Items]
Fair value of loaned securities held	$ 8,300	$ 9,300
Fair value of collateral loan under these securities lending agreements	9,000	10,100
Separate account collateral held under securities lending agreements	3,998	$ 4,558
Fair value of securities received as collateral have been resold or repledged	$ 0		$ 0
Minimum [Member]
Significant Accounting Policies [Line Items]
Collateral cash and securities received in exchange of value of securities lent in order to reduce counterparty risk	102%
Maximum [Member]
Significant Accounting Policies [Line Items]
Collateral cash and securities received in exchange of value of securities lent in order to reduce counterparty risk	112%

Acquisitions - Summary of Fair

Acquisitions - Summary of Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 15,522	$ 15,524

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	[1]	$ 9,374	$ 8,736
Restricted cash included in other assets		$ 17	$ 17
Restricted Cash, Statement of Financial Position [Extensible Enumeration]		Other Assets	Other Assets
Total cash, cash equivalents and restricted cash		$ 9,391	$ 8,753	$ 5,661	$ 7,433
[1] At March 31, 2024, cash and cash equivalents, investments, other assets and other liabilities include $ 277 million , $ 5.3 billion , $ 82 million , and $ 2.1 billion , respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2023, cash and cash equivalents, investments, other assets and other liabilities include $ 234 million , $ 5.0 billion , $ 83 million , and $ 2.2 billion , respectively, related to consolidated VIEs.

Investments - Summary of Carryi

Investments - Summary of Carrying Value of Total Investments (Detail) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Trading securities (including $1,635 and $1,829 held by CIPs at March 31, 2024 and December 31, 2023, respectively)		$ 1,683	$ 1,871
Held-to-maturity investments		611	617
Total debt securities		2,294	2,488
Equity securities at FVTNI (including $1,939 and $1,429 held by CIPs at March 31, 2024 and December 31, 2023, respectively)		2,096	1,585
Total equity method investments		2,664	2,756
Loans held by CIPs		559	205
Total investments	[1]	10,337	9,740
Other Investments [Member]
Schedule of Investments [Line Items]
Total investments		768	639
Equity Method Investments [Member]
Schedule of Investments [Line Items]
Total equity method investments		2,476	2,515
Deferred Cash Compensation Plans [Member]
Schedule of Investments [Line Items]
Total equity method investments		188	241
Deferred Cash Compensation Plans [Member] | Other Investments [Member]
Schedule of Investments [Line Items]
Total investments		10	9
Federal Reserve Bank Stock [Member]
Schedule of Investments [Line Items]
Total investments		92	92
Consolidated Entities [Member] | Carried Interest [Member]
Schedule of Investments [Line Items]
Total investments		$ 1,864	$ 1,975
[1] At March 31, 2024, cash and cash equivalents, investments, other assets and other liabilities include $ 277 million , $ 5.3 billion , $ 82 million , and $ 2.1 billion , respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2023, cash and cash equivalents, investments, other assets and other liabilities include $ 234 million , $ 5.0 billion , $ 83 million , and $ 2.2 billion , respectively, related to consolidated VIEs.

Investments - Summary of Carr_2

Investments - Summary of Carrying Value of Total Investments (Detail) (Parenthetical) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Trading securities		$ 1,683	$ 1,871
Total equity securities at FVTNI		2,096	1,585
Total equity method investments		2,664	2,756
Investments	[1]	10,337	9,740
Deferred Cash Compensation Plan Member
Schedule of Investments [Line Items]
Total equity method investments		188	241
Deferred Cash Compensation Plan Mutual Fund Investments [Member]
Schedule of Investments [Line Items]
Investments		12	14
Deferred Cash Compensation Plans [Member]
Schedule of Investments [Line Items]
Total equity method investments		188	241
Other Investments [Member]
Schedule of Investments [Line Items]
Investments		768	639
Other Investments [Member] | Deferred Cash Compensation Plans [Member]
Schedule of Investments [Line Items]
Investments		10	9
Consolidated Sponsored Investment Products [Member]
Schedule of Investments [Line Items]
Trading securities		1,635	1,829
Total equity securities at FVTNI		1,939	1,429
Investments		$ 6,506	$ 5,977
[1] At March 31, 2024, cash and cash equivalents, investments, other assets and other liabilities include $ 277 million , $ 5.3 billion , $ 82 million , and $ 2.1 billion , respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2023, cash and cash equivalents, investments, other assets and other liabilities include $ 234 million , $ 5.0 billion , $ 83 million , and $ 2.2 billion , respectively, related to consolidated VIEs.

Investments - Additional Inform

Investments - Additional Information (Detail) $ in Millions	Mar. 31, 2024 USD ($)
Investments Debt And Equity Securities [Abstract]
Held-to-maturity investments, less than one year	$ 10
Foreign government debt, after five years through ten years	320
Held-to-maturity investments, after ten years	$ 281

Investments - Summary of Cost a

Investments - Summary of Cost and Carrying Value of Equity and Trading Debt Securities (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Total trading debt securities, Cost	$ 1,723	$ 1,911
Total trading debt, Carrying Value	1,683	1,871
Equity securities at FVTNI, Carrying Value	2,096	1,585
Corporate Debt [Member]
Schedule of Investments [Line Items]
Total trading debt securities, Cost	947	1,225
Total trading debt, Carrying Value	940	1,218
Government Debt [Member]
Schedule of Investments [Line Items]
Total trading debt securities, Cost	566	501
Total trading debt, Carrying Value	556	489
Asset/Mortgage-Backed Debt [Member]
Schedule of Investments [Line Items]
Total trading debt securities, Cost	210	185
Total trading debt, Carrying Value	187	164
Equity Securities Member
Schedule of Investments [Line Items]
Equity securities at FVTNI, Cost	1,994	1,520
Equity securities at FVTNI, Carrying Value	$ 2,096	$ 1,585

Consolidated Sponsored Invest_3

Consolidated Sponsored Investment Products - Consolidated VIEs And VREs Recorded in Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Consolidated Sponsored Investment Funds [Line Items]
Cash and cash equivalents	[1]	$ 9,374	$ 8,736
Investments:
Trading securities		1,683	1,871
Equity securities at FVTNI		2,096	1,585
Total investments	[1]	10,337	9,740
Other assets	[1]	4,685	3,848
Other liabilities	[1]	(5,275)	(4,474)
Noncontrolling interests - CIPs		(170)	(153)
Consolidated Variable Interest Entities [Member]
Consolidated Sponsored Investment Funds [Line Items]
Cash and cash equivalents		277	234
Investments:
Trading securities		1,175	1,423
Loans		545	195
Other investments		432	427
Carried interest		1,790	1,916
Total investments		5,291	5,020
Other assets		82	83
Other liabilities		(2,114)	(2,233)
Noncontrolling interests - CIPs		(1,641)	(1,625)
BlackRock's net interests in CIPs		1,895	1,479
Consolidated Voting Rights Entities [Member]
Consolidated Sponsored Investment Funds [Line Items]
Cash and cash equivalents		105	54
Investments:
Trading securities		460	406
Loans		14	10
Other investments		151	171
Carried interest		0	0
Total investments		1,215	957
Other assets		35	39
Other liabilities		(150)	(108)
Noncontrolling interests - CIPs		(313)	(226)
BlackRock's net interests in CIPs		892	716
Consolidated Sponsored Investment Products [Member]
Consolidated Sponsored Investment Funds [Line Items]
Cash and cash equivalents		382	288
Investments:
Trading securities		1,635	1,829
Equity securities at FVTNI		1,939	1,429
Loans		559	205
Other investments		583	598
Carried interest		1,790	1,916
Total investments		6,506	5,977
Other assets		117	122
Other liabilities		(2,264)	(2,341)
Noncontrolling interests - CIPs		(1,954)	(1,851)
BlackRock's net interests in CIPs		2,787	2,195
Equity Securities Member
Investments:
Equity securities at FVTNI		2,096	1,585
Equity Securities Member | Consolidated Variable Interest Entities [Member]
Investments:
Equity securities at FVTNI		1,349	1,059
Equity Securities Member | Consolidated Voting Rights Entities [Member]
Investments:
Equity securities at FVTNI		590	370
Equity Securities Member | Consolidated Sponsored Investment Products [Member]
Investments:
Equity securities at FVTNI		$ 1,939	$ 1,429
[1] At March 31, 2024, cash and cash equivalents, investments, other assets and other liabilities include $ 277 million , $ 5.3 billion , $ 82 million , and $ 2.1 billion , respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2023, cash and cash equivalents, investments, other assets and other liabilities include $ 234 million , $ 5.0 billion , $ 83 million , and $ 2.2 billion , respectively, related to consolidated VIEs.

Consolidated Sponsored Invest_4

Consolidated Sponsored Investment Products - Schedule of Net Gain (Loss) Related to Consolidated VIEs (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Variable Interest Entity [Line Items]
Nonoperating net gain (loss) on consolidated VIEs	$ 171	$ 89
Net income (loss) attributable to NCI on consolidated VIEs	50	12
Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Nonoperating net gain (loss) on consolidated VIEs	71	59
Net income (loss) attributable to NCI on consolidated VIEs	$ 39	$ 12

Variable Interest Entities Refl

Variable Interest Entities Reflects adoption of ASU 2015-12 - Balances Relating to Variable Interest Entities in which BlackRock is Not Primary Beneficiary (Detail) - Variable Interest Entity, Not Primary Beneficiary [Member] - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Investments [Member]
Variable Interest Entity [Line Items]
Sponsored investment products	$ 2,427	$ 2,377
Advisory Fee Receivables [Member]
Variable Interest Entity [Line Items]
Sponsored investment products	114	116
Other Net Assets (Liabilities) [Member]
Variable Interest Entity [Line Items]
Sponsored investment products	(11)	(11)
Maximum Risk of Loss [Member]
Variable Interest Entity [Line Items]
Sponsored investment products	$ 2,558	$ 2,510

Variable Interest Entities Re_2

Variable Interest Entities Reflects adoption of ASU 2015-12 - Additional Information (Detail) - USD ($) $ in Billions	Mar. 31, 2024	Dec. 31, 2023
Variable Interest Entity, Not Primary Beneficiary [Member] | Sponsored Investment Products [Member]
Variable Interest Entity [Line Items]
Net assets of investments funds	$ 42	$ 39

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities	$ 1,683	$ 1,871
Total equity securities at FVTNI	2,096	1,585
Loans	559	205
Separate account assets	55,376	56,098
Separate account collateral liabilities under securities lending agreements	3,998	4,558
Equity Securities Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities at FVTNI	2,096	1,585
Investments Measured at NAV Member | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other assets	90	80
Fair Value, Measurements, Recurring Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Held-to-maturity investments		617
Total debt securities		2,488
Total equity method	2,664	2,756
Loans	559	205
Federal Reserve Bank Stock	92	92
Carried interest	1,864	1,975
Other investments		639
Total investments	10,337	9,740
Other assets	277	256
Separate account assets	55,376	56,098
Total separate account collateral held under securities lending agreements	3,998	4,558
Total	69,988	70,652
Separate account collateral liabilities under securities lending agreements	3,998	4,558
Other liabilities	282	296
Total liabilities measured at fair value	4,280	4,854
Fair Value, Measurements, Recurring Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities		0
Held-to-maturity investments		0
Total debt securities	0	0
Total equity method	2,429
Loans		0
Federal Reserve Bank Stock		0
Carried interest		0
Other investments	455
Total investments	2,884
Other assets	0	0
Separate account assets	0	0
Total separate account collateral held under securities lending agreements	0	0
Total	2,884
Separate account collateral liabilities under securities lending agreements		0
Other liabilities	0	0
Total liabilities measured at fair value	0	0
Fair Value, Measurements, Recurring Member | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	0	0
Total equity method	235	246
Loans	0	0
Federal Reserve Bank Stock	0	0
Carried interest		0
Other investments	17	15
Total investments	2,348	1,846
Other assets	136	117
Separate account assets	34,791	34,621
Total separate account collateral held under securities lending agreements	1,566
Total	38,841	38,270
Separate account collateral liabilities under securities lending agreements	1,566	1,686
Other liabilities	0	0
Total liabilities measured at fair value	1,566	1,686
Fair Value, Measurements, Recurring Member | Significant Other Observable Inputs (Level 2) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	1,635	1,829
Total equity method	0	0
Loans	34	30
Federal Reserve Bank Stock	0	0
Carried interest		0
Other investments	0	0
Total investments	1,669	1,859
Other assets	3	19
Separate account assets	20,066	20,810
Total separate account collateral held under securities lending agreements	2,432	2,872
Total	24,170	25,560
Separate account collateral liabilities under securities lending agreements	2,432	2,872
Other liabilities	24	17
Total liabilities measured at fair value	2,456	2,889
Fair Value, Measurements, Recurring Member | Significant Unobservable Inputs (Level 3) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	48	42
Total equity method	0	0
Loans	525	175
Federal Reserve Bank Stock		0
Carried interest		0
Other investments		0
Total investments	573	217
Other assets	138	120
Separate account assets	0	0
Total separate account collateral held under securities lending agreements	0	0
Total	711	337
Separate account collateral liabilities under securities lending agreements	0	0
Other liabilities	258	279
Total liabilities measured at fair value	258	279
Fair Value, Measurements, Recurring Member | Equity Securities/Mutual Funds Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities at FVTNI		1,585
Fair Value, Measurements, Recurring Member | Equity Securities/Mutual Funds Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities at FVTNI	0	0
Fair Value, Measurements, Recurring Member | Equity Securities/Mutual Funds Member | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities at FVTNI	2,096	1,585
Fair Value, Measurements, Recurring Member | Equity Securities/Mutual Funds Member | Significant Other Observable Inputs (Level 2) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities at FVTNI	0	0
Fair Value, Measurements, Recurring Member | Equity Securities/Mutual Funds Member | Significant Unobservable Inputs (Level 3) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities at FVTNI	0	0
Fair Value, Measurements, Recurring Member | Debt Securities/ Fixed Income Mutual Funds Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities	1,683	1,871
Held-to-maturity investments	611
Total debt securities	2,294
Total equity securities at FVTNI	2,096
Other investments	768
Fair Value, Measurements, Recurring Member | Debt Securities/ Fixed Income Mutual Funds Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities	0
Held-to-maturity investments	0
Fair Value, Measurements, Recurring Member | Debt Securities/ Fixed Income Mutual Funds Member | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities	0	0
Held-to-maturity investments	0	0
Total separate account collateral held under securities lending agreements		1,686
Fair Value, Measurements, Recurring Member | Debt Securities/ Fixed Income Mutual Funds Member | Significant Other Observable Inputs (Level 2) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities	1,635	1,829
Held-to-maturity investments	0	0
Fair Value, Measurements, Recurring Member | Debt Securities/ Fixed Income Mutual Funds Member | Significant Unobservable Inputs (Level 3) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities	48	42
Held-to-maturity investments		0
Fair Value, Measurements, Recurring Member | Equity, Fixed Income And Multi-Asset Mutual Funds Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	235	246
Fair Value, Measurements, Recurring Member | Equity, Fixed Income And Multi-Asset Mutual Funds Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Equity, Fixed Income And Multi-Asset Mutual Funds Member | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	235	246
Fair Value, Measurements, Recurring Member | Equity, Fixed Income And Multi-Asset Mutual Funds Member | Significant Other Observable Inputs (Level 2) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Equity, Fixed Income And Multi-Asset Mutual Funds Member | Significant Unobservable Inputs (Level 3) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Hedge Funds/Funds of Hedge Funds/Other Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	623	588
Fair Value, Measurements, Recurring Member | Hedge Funds/Funds of Hedge Funds/Other Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	623
Fair Value, Measurements, Recurring Member | Hedge Funds/Funds of Hedge Funds/Other Member | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Hedge Funds/Funds of Hedge Funds/Other Member | Significant Other Observable Inputs (Level 2) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Hedge Funds/Funds of Hedge Funds/Other Member | Significant Unobservable Inputs (Level 3) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Private Equity Funds Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	1,186	1,264
Fair Value, Measurements, Recurring Member | Private Equity Funds Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	1,186
Fair Value, Measurements, Recurring Member | Private Equity Funds Member | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Private Equity Funds Member | Significant Other Observable Inputs (Level 2) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Private Equity Funds Member | Significant Unobservable Inputs (Level 3) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Real Assets Funds Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	432	417
Fair Value, Measurements, Recurring Member | Real Assets Funds Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	432
Fair Value, Measurements, Recurring Member | Real Assets Funds Member | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Real Assets Funds Member | Significant Other Observable Inputs (Level 2) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Real Assets Funds Member | Significant Unobservable Inputs (Level 3) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Investments Related To Deferred Cash Compensation Plans Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	188	241
Fair Value, Measurements, Recurring Member | Investments Related To Deferred Cash Compensation Plans Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	188
Fair Value, Measurements, Recurring Member | Investments Related To Deferred Cash Compensation Plans Member | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Investments Related To Deferred Cash Compensation Plans Member | Significant Other Observable Inputs (Level 2) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Investments Related To Deferred Cash Compensation Plans Member | Significant Unobservable Inputs (Level 3) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Equity Securities Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	1,566	1,686
Fair Value, Measurements, Recurring Member | Equity Securities Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	0	0
Fair Value, Measurements, Recurring Member | Equity Securities Member | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	1,566	1,686
Fair Value, Measurements, Recurring Member | Equity Securities Member | Significant Other Observable Inputs (Level 2) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	0	0
Fair Value, Measurements, Recurring Member | Equity Securities Member | Significant Unobservable Inputs (Level 3) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	0
Fair Value, Measurements, Recurring Member | Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	2,432	2,872
Fair Value, Measurements, Recurring Member | Debt Securities | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	0	0
Fair Value, Measurements, Recurring Member | Debt Securities | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	0	0
Fair Value, Measurements, Recurring Member | Debt Securities | Significant Other Observable Inputs (Level 2) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	2,432	2,872
Fair Value, Measurements, Recurring Member | Debt Securities | Significant Unobservable Inputs (Level 3) Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	0	0
Fair Value, Measurements, Recurring Member | Investments Measured at NAV Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method		2,510
Other investments		467
Total investments		2,977
Total		2,977
Fair Value, Measurements, Recurring Member | Investments Measured at NAV Member | Hedge Funds/Funds of Hedge Funds/Other Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method		588
Fair Value, Measurements, Recurring Member | Investments Measured at NAV Member | Private Equity Funds Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method		1,264
Fair Value, Measurements, Recurring Member | Investments Measured at NAV Member | Real Assets Funds Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method		417
Fair Value, Measurements, Recurring Member | Investments Measured at NAV Member | Investments Related To Deferred Cash Compensation Plans Member | Investment in NAV Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method		241
Fair Value, Measurements, Recurring Member | Other Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities	0	0
Held-to-maturity investments	611	617
Total debt securities	611	617
Total equity method		0
Loans		0
Federal Reserve Bank Stock	92	92
Carried interest	1,864	1,975
Other investments	296	157
Total investments	2,863	2,841
Other assets	0	0
Separate account assets	519	667
Total separate account collateral held under securities lending agreements	0	0
Total	3,382	3,508
Separate account collateral liabilities under securities lending agreements	0	0
Other liabilities	0	0
Total liabilities measured at fair value	0	0
Fair Value, Measurements, Recurring Member | Other Member | Equity Securities/Mutual Funds Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities at FVTNI	0	0
Fair Value, Measurements, Recurring Member | Other Member | Equity, Fixed Income And Multi-Asset Mutual Funds Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Other Member | Hedge Funds/Funds of Hedge Funds/Other Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Other Member | Private Equity Funds Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Other Member | Real Assets Funds Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Other Member | Investments Related To Deferred Cash Compensation Plans Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	0	0
Fair Value, Measurements, Recurring Member | Other Member | Equity Securities Member
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	0	0
Fair Value, Measurements, Recurring Member | Other Member | Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	$ 0	$ 0

Fair Value Disclosures - Change

Fair Value Disclosures - Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value, beginning balance	$ 337
Assets measured at fair value, beginning balance	205
Realized and Unrealized Gains (Losses),Assets	(6)
Purchases, Assets	397
Sales and Maturities, Assets	(17)
Issuances and other Settlements, Assets	0
Transfers into Level 3, Assets	3
Transfers out of Level 3, Assets	(3)
Assets measured at fair value, ending balance	711
Assets measured at fair value, ending balance	559
Total Net Unrealized Gains (Losses) Included in Earnings	(6)
Other Liabilities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value, beginning balance	120
Liabilities measured at fair value, beginning balance	279	$ 280
Realized and Unrealized Gains (Losses), Liabilities	$ 6	4
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income Expense
Purchases, Liabilities	$ 0	0
Sales and Maturities, Liabilities	0	0
Issuances and Other Settlements, Liabilities	(15)	(19)
Transfers into Level 3, Liabilities	0	0
Transfers out of Level 3, Liabilities	0	0
Liabilities measured at fair value, ending balance	258	257
Total Net Unrealized Gains (Losses) Included in Earnings	6	$ 4
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Nonoperating Income Expense
Other Assets [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Realized and Unrealized Gains (Losses),Assets	(7)
Purchases, Assets	25
Sales and Maturities, Assets	0
Issuances and other Settlements, Assets	0
Transfers into Level 3, Assets
Transfers out of Level 3, Assets
Assets measured at fair value, ending balance	138
Total Net Unrealized Gains (Losses) Included in Earnings	(7)
Investments [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value, beginning balance	217	$ 300
Realized and Unrealized Gains (Losses),Assets	1	7
Purchases, Assets	372	14
Sales and Maturities, Assets	(17)	(20)
Issuances and other Settlements, Assets	0	0
Transfers into Level 3, Assets	3	5
Transfers out of Level 3, Assets	(3)	(4)
Assets measured at fair value, ending balance	573	302
Total Net Unrealized Gains (Losses) Included in Earnings	1	7
Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value, beginning balance	42	52
Realized and Unrealized Gains (Losses),Assets	(1)	1
Purchases, Assets	7	2
Sales and Maturities, Assets	0	0
Issuances and other Settlements, Assets	0	0
Transfers into Level 3, Assets	0	0
Transfers out of Level 3, Assets	0	0
Assets measured at fair value, ending balance	48	55
Total Net Unrealized Gains (Losses) Included in Earnings	(1)	1
Debt Securities | Trading [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value, beginning balance	42	52
Realized and Unrealized Gains (Losses),Assets	(1)	1
Purchases, Assets	7	2
Sales and Maturities, Assets	0	0
Issuances and other Settlements, Assets	0	0
Transfers into Level 3, Assets	0	0
Transfers out of Level 3, Assets	0	0
Assets measured at fair value, ending balance	48	55
Total Net Unrealized Gains (Losses) Included in Earnings	$ (1)	$ 1
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Nonoperating Income Expense
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income Expense
Consolidated Variable Interest Entities [Member] | Bank Loans [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value, beginning balance	$ 175	$ 248
Realized and Unrealized Gains (Losses),Assets	2	6
Purchases, Assets	365	12
Sales and Maturities, Assets	(17)	(20)
Issuances and other Settlements, Assets	0	0
Transfers into Level 3, Assets	3	5
Transfers out of Level 3, Assets	(3)	(4)
Assets measured at fair value, ending balance	525	247
Total Net Unrealized Gains (Losses) Included in Earnings	$ 2	$ 6

Fair Value Disclosures - Fair V

Fair Value Disclosures - Fair Value of Financial Assets and Financial Liabilities (Detail) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	$ 9,374	$ 8,736
Long-term borrowings		9,860	7,918
Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents		9,374
Other assets		90
Long-term borrowings		9,860
Carrying Amount [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents			8,736
Other assets			80
Carrying Amount [Member] | Significant Other Observable Inputs (Level 2) Member
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term borrowings			7,918
Estimated Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents		9,374	8,736
Other assets		90	80
Long-term borrowings		$ 9,330
Estimated Fair Value [Member] | Significant Other Observable Inputs (Level 2) Member
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term borrowings			$ 7,413
[1] At March 31, 2024, cash and cash equivalents, investments, other assets and other liabilities include $ 277 million , $ 5.3 billion , $ 82 million , and $ 2.1 billion , respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2023, cash and cash equivalents, investments, other assets and other liabilities include $ 234 million , $ 5.0 billion , $ 83 million , and $ 2.2 billion , respectively, related to consolidated VIEs.

Fair Value Disclosures - Fair_2

Fair Value Disclosures - Fair Value of Financial Assets and Financial Liabilities (Parenthetical) (Detail) - USD ($) $ / shares in Units, $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	$ 9,374	$ 8,736
Money market valuation per share floor		$ 1
Cash collateral		$ 73	63
Restricted cash		17	17
Money Market Funds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents		$ 4,300	$ 3,400
[1] At March 31, 2024, cash and cash equivalents, investments, other assets and other liabilities include $ 277 million , $ 5.3 billion , $ 82 million , and $ 2.1 billion , respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2023, cash and cash equivalents, investments, other assets and other liabilities include $ 234 million , $ 5.0 billion , $ 83 million , and $ 2.2 billion , respectively, related to consolidated VIEs.

Fair Value Disclosures - Invest

Fair Value Disclosures - Investments in Certain Entities Calculate Net Asset Value per Share (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 722	$ 725
Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 2,884	2,977
Hedge Funds/Funds of Hedge Funds/Other [Member] | Consolidated Variable Interest Entities [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments		$ 64
Redemption Frequency (Quarterly)	83%	83%
Redemption Frequency (Not Redeemable)	17%	17%
Hedge Funds/Funds of Hedge Funds/Other [Member] | Consolidated Variable Interest Entities [Member] | Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value		$ 168
Hedge Funds/Funds of Hedge Funds/Other Member | Consolidated Variable Interest Entities [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 43
Hedge Funds/Funds of Hedge Funds/Other Member | Consolidated Variable Interest Entities [Member] | Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	171
Private Equity Funds Member | Consolidated Variable Interest Entities [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	19	37
Private Equity Funds Member | Consolidated Variable Interest Entities [Member] | Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	126
Real Assets Funds Member
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	295	272
Real Assets Funds Member | Consolidated Variable Interest Entities [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	58	62
Real Assets Funds Member | Consolidated Variable Interest Entities [Member] | Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 158	$ 154
Other Funds [Member] | Consolidated Variable Interest Entities [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period, days	90 days	90 days
Private Equity Funds Of Funds [Member] | Consolidated Variable Interest Entities [Member] | Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value		$ 145
Equity Method Investments [Member] | Hedge Funds/Funds of Hedge Funds/Other [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 129	$ 134
Redemption Frequency (Daily)	11%	4%
Redemption Frequency (Monthly)	11%	4%
Redemption Frequency (Quarterly)	7%	8%
Redemption Frequency (Not Redeemable)	82%	88%
Equity Method Investments [Member] | Hedge Funds/Funds of Hedge Funds/Other [Member] | Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 623	$ 588
Equity Method Investments [Member] | Hedge Funds/Funds of Hedge Funds/Other [Member] | Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period, days	1 day	1 day
Equity Method Investments [Member] | Hedge Funds/Funds of Hedge Funds/Other [Member] | Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period, days	90 days	90 days
Equity Method Investments [Member] | Private Equity Funds Member
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 236	$ 218
Equity Method Investments [Member] | Private Equity Funds Member | Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	1,186	1,264
Equity Method Investments [Member] | Real Assets Funds Member
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 237	$ 210
Redemption Frequency (Quarterly)	9%	10%
Redemption Frequency (Not Redeemable)	91%	90%
Redemption Notice Period, days	60 days	60 days
Equity Method Investments [Member] | Real Assets Funds Member | Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 432	$ 417
Equity Method Investments [Member] | Deferred Cash Compensation Plan Member | Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period, days	1 day	1 day
Equity Method Investments [Member] | Deferred Cash Compensation Plan Member | Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Redemption Notice Period, days	90 days	90 days
Equity Method Investments [Member] | Investments Related To Deferred Cash Compensation Plans Member
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 0	$ 0
Equity Method Investments [Member] | Investments Related To Deferred Cash Compensation Plans Member | Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 188	$ 241

Fair Value Disclosures - Inve_2

Fair Value Disclosures - Investments in Certain Entities Calculate Net Asset Value per Share (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 722	$ 725
Real Assets Funds Member
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	295	272
Total remaining Unfunded Commitments	$ 268	$ 248

Fair Value Disclosures - Additi

Fair Value Disclosures - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Collateralized loan obligations outstanding borrowings maturity year	2030
Fair Value Option [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total investments	$ 41	$ 42

Fair Value Disclosures - Summar

Fair Value Disclosures - Summary of Information Related to Bank Loans and Borrowings of Consolidated CLO Recorded within Investments and Other Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value Option Quantitative Disclosures [Line Items]
Aggregate principal amounts outstanding	$ 9,956
CLO Loans [Member]
Fair Value Option Quantitative Disclosures [Line Items]
Aggregate principal amounts outstanding	195	$ 203
Fair value	183	194
Aggregate unpaid principal balance in excess of (less than) fair value	12	9
CLO Borrowings [Member]
Fair Value Option Quantitative Disclosures [Line Items]
Aggregate principal amounts outstanding	180	190
Fair value	$ 169	$ 180

Derivatives and Hedging - Addit

Derivatives and Hedging - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2023
Derivative [Line Items]
Notional value	$ 205	$ 204	$ 204
Derivative Expiration Dates	2024-06	2024-03
Derivative maximum risk of loss	$ 17	$ 17	17
Foreign Exchange Future [Member]
Derivative [Line Items]
Notional value	$ 1,800	$ 1,800	1,800
Derivative Expiration Dates	2024-06	2024-03
Forward Foreign Currency Exchange Contracts [Member]
Derivative [Line Items]
Notional value	$ 2,700	$ 3,100	$ 3,100
Derivative Expiration Dates	2024-04		2024-01

Derivatives and Hedging - Summa

Derivatives and Hedging - Summary of Fair Values of Derivatives Instruments Recognized in Consolidated Statements of Financial Condition (Detail) - Forward Foreign Currency Exchange Contracts [Member] - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Other Assets [Member]
Derivatives Fair Value [Line Items]
Other assets, fair value	$ 3	$ 19
Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Other liabilities, fair value	$ 13	$ 6

Derivatives and Hedging - Sum_2

Derivatives and Hedging - Summary of Realized and Unrealized Gains (Losses) Recognized in Condensed Consolidated Statements of Income on Derivative Instruments (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments Gain Loss [Line Items]
Total gain (loss) from derivative instruments	$ (37)	$ (5)
Deferred Cash Compensation Plans [Member]
Derivative Instruments Gain Loss [Line Items]
Total gain (loss) from derivative instruments	11	9
Forward Foreign Currency Exchange Contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Total gain (loss) from derivative instruments	$ (5)	$ 40
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	General And Administrative Expense	General And Administrative Expense
Foreign Exchange Future [Member]
Derivative Instruments Gain Loss [Line Items]
Total gain (loss) from derivative instruments	$ (32)	$ (45)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Gain Loss On Investments	Gain Loss On Investments

Derivatives and Hedging - Sum_3

Derivatives and Hedging - Summary of Realized and Unrealized Gains (Losses) Recognized in Condensed Consolidated Statements of Income on Derivative Instruments (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	$ (37)	$ (5)
Seed Investment [Member]
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	43	54
Deferred Cash Compensation Plans [Member]
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	$ 11	$ 9

Goodwill - Goodwill Activity (D

Goodwill - Goodwill Activity (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill Roll Forward
Beginning balance	$ 15,524
Other	(2)
Ending balance	$ 15,522

Intangible Assets - Carrying Am

Intangible Assets - Carrying Amounts of Identifiable Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill And Intangible Assets Disclosure [Abstract]
Indefinite-lived intangible assets	$ 17,578
Indefinite-lived intangible assets, amortization expense	0
Other indefinite-lived intangible assets	0
Indefinite-lived intangible assets	17,578
Finite-lived intangible assets, Beginning balance	680
Finite-lived intangible assets, amortization expense	(38)	$ (37)
Other finite-lived intangible assets	(1)
Finite-lived intangible assets, Ending balance	641
Intangible assets, Beginning balance	18,258
Intangible assets, Ending balance	18,219
Other, Total	$ (1)

Leases - Components of Lease Co

Leases - Components of Lease Cost (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Lease cost:
Operating lease cost	[1]	$ 45	$ 55
Variable lease cost	[2]	14	11
Total lease cost		$ 59	$ 66
[1] Amounts include short-term leases, which are immaterial for the three months ended March 31, 2024 and 2023 . Amounts include operating lease payments, which may be adjusted based on usage, changes in an index or market rate, as well as common area maintenance charges and other variable costs not included in the measurement of right-of-use (“ROU”) assets and operating lease liabilities.

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Information Related to Operating Leases (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Supplemental cash flow information:
Operating cash flows from operating leases included in the measurement of operating lease liabilities	$ 44	$ 42
Supplemental noncash information:
ROU assets in exchange for operating lease liabilities	$ 27	$ 11
Weighted-average remaining lease term	15 years		15 years
Weighted-average discount rate	3%		3%

Other Assets - Additional Infor

Other Assets - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
iCapital [Member]
Other Assets [Line Items]
Carrying value - equity method investment	$ 642	$ 641
Percentage of strategic minority investment	25%
Other Assets [Member]
Other Assets [Line Items]
Carrying value - equity method investment	$ 780	773
Other non equity method corporate minority investments	$ 529	$ 484

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) £ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 GBP (£)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Aggregate principal amounts outstanding	$ 9,956,000,000
Borrowings	9,860,000,000			$ 7,918,000,000
Fair Value	9,330,000,000			$ 7,400,000,000
Repayments of long-term borrowings	1,000,000,000	$ 0
Commercial Paper [Member]
Debt Instrument [Line Items]
Maximum amount available under facility	4,000,000,000
Amount outstanding under credit facility	0
2024 Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility	5,000,000,000
Additional amount available, subject to lender credit approval	1,000,000,000
Maximum amount available under facility	$ 6,000,000,000
Line of credit facility, interest rate description	Interest on outstanding borrowings accrues at an applicable benchmark rate for the denominated currency of the loan, plus a spread.
Amount outstanding under credit facility	$ 0
Credit facility maturity date	Mar. 31, 2028
Line of credit facility, covenant terms	The 2024 credit facility permits the Company to request up to an additional $1.0 billion of borrowing capacity, subject to lender credit approval, which could increase the overall size of the 2024 credit facility from $5 billion as of March 31, 2024, to an aggregate principal amount of up to $6 billion. Interest on outstanding borrowings accrues at an applicable benchmark rate for the denominated currency of the loan, plus a spread. The 2024 credit facility requires the Company not to exceed a maximum leverage ratio (ratio of net debt to earnings before interest, taxes, depreciation and amortization, where net debt equals total debt less unrestricted cash) of 3 to 1,
Line of credit facility, covenant compliance	less than 1 to 1
2024 Subsidiary Credit Facility [Member] | Subsidiaries [Member]
Debt Instrument [Line Items]
Maximum amount available under facility	$ 32,000,000		£ 25
Amount outstanding under credit facility	0
2024 Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amounts outstanding	3,000,000,000
Debt instrument, Approximate annual interest expense	$ 152,000,000
Debt instrument, payment terms	Interest on the 2024 Notes of approximately $152 million per year is payable semi-annually on March 14 and September 14 of each year, beginning September 14, 2024.
2029 and 2034 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, redemption price, percentage of principal amount redeemed	101%
4.70% Notes due 2029 [Member]
Debt Instrument [Line Items]
Aggregate principal amounts outstanding	$ 500,000,000
Debt instrument, interest rate	4.70%		4.70%
Debt Instrument, Maturity Date	Mar. 14, 2029
Borrowings	$ 496,000,000
Fair Value	500,000,000
5.00% Notes due 2034 [Member]
Debt Instrument [Line Items]
Aggregate principal amounts outstanding	$ 1,000,000,000
Debt instrument, interest rate	5%		5%
Debt Instrument, Maturity Date	Mar. 14, 2034
Borrowings	$ 992,000,000
Fair Value	1,004,000,000
5.25% Notes due 2054 [Member]
Debt Instrument [Line Items]
Aggregate principal amounts outstanding	$ 1,500,000,000
Debt instrument, interest rate	5.25%		5.25%
Debt Instrument, Maturity Date	Mar. 14, 2054
Borrowings	$ 1,468,000,000
Fair Value	$ 1,509,000,000
3.50% Notes due 2024 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	3.50%		3.50%
Repayments of long-term borrowings	$ 1,000,000,000

Borrowings - Carrying Value and

Borrowings - Carrying Value and Fair Value of Long-Term Borrowings Determined Market Prices EUR/USD Foreign Exchange Rate (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Maturity Amount	$ 9,956
Unamortized Discount and Debt Issuance Costs	(96)
Carrying Value	9,860	$ 7,918
Fair Value	9,330	$ 7,400
1.25% Notes due 2025 [Member]
Debt Instrument [Line Items]
Maturity Amount	756
Unamortized Discount and Debt Issuance Costs	(1)
Carrying Value	755
Fair Value	738
3.20% Notes due 2027 [Member]
Debt Instrument [Line Items]
Maturity Amount	700
Unamortized Discount and Debt Issuance Costs	(2)
Carrying Value	698
Fair Value	671
3.25% Notes due 2029 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,000
Unamortized Discount and Debt Issuance Costs	(7)
Carrying Value	993
Fair Value	935
4.70% Notes due 2029 [Member]
Debt Instrument [Line Items]
Maturity Amount	500
Unamortized Discount and Debt Issuance Costs	(4)
Carrying Value	496
Fair Value	500
2.40% Notes due 2030 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,000
Unamortized Discount and Debt Issuance Costs	(4)
Carrying Value	996
Fair Value	876
1.90% Notes due 2031 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,250
Unamortized Discount and Debt Issuance Costs	(8)
Carrying Value	1,242
Fair Value	1,039
2.10% Notes due 2032 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,000
Unamortized Discount and Debt Issuance Costs	(12)
Carrying Value	988
Fair Value	819
4.75% Notes due 2033 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,250
Unamortized Discount and Debt Issuance Costs	(18)
Carrying Value	1,232
Fair Value	1,239
5.00% Notes due 2034 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,000
Unamortized Discount and Debt Issuance Costs	(8)
Carrying Value	992
Fair Value	1,004
5.25% Notes due 2054 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,500
Unamortized Discount and Debt Issuance Costs	(32)
Carrying Value	1,468
Fair Value	$ 1,509

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2024 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Investment commitments	$ 781,000,000
Amount of securities on loan subject to indemnification	270,000,000,000
Collateral for indemnified securities	289,000,000,000
Fair value of indemnified securities	$ 0

Revenue - Summary of Investment

Revenue - Summary of Investment Advisory, Administration Fees and Securities Lending Revenue by Type (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Total revenue	$ 4,728	$ 4,243
Investment Advisory, Administration Fees and Securities Lending Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,778	3,502
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Equity Active Product [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	516	500
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Equity ETFs [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,190	1,078
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Equity Non-ETF Index [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	187	177
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Equity [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,893	1,755
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Fixed Income Active [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	484	468
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Fixed Income ETFs [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	327	295
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Fixed Income Non-ETF Index [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	92	87
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Fixed Income [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	903	850
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Multi-asset [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	314	296
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	190	33
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Alternatives [Member] | Illiquid Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	240	201
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Alternatives [Member] | Liquid Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	138	145
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Alternatives [Member] | Currency and Commodities [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	45	46
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Cash Management [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	245	209
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Long-term [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,533	3,293
Investment Advisory Performance Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	204	55
Investment Advisory Performance Fees [Member] | Equity [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	8	6
Investment Advisory Performance Fees [Member] | Fixed Income [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	4	1
Investment Advisory Performance Fees [Member] | Multi-asset [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2	15
Investment Advisory Performance Fees [Member] | Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	423	392
Investment Advisory Performance Fees [Member] | Alternatives [Member] | Illiquid Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	125	21
Investment Advisory Performance Fees [Member] | Alternatives [Member] | Liquid Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	65	12
Technology Services Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	377	340
Distribution Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	310	319
Advisory and Other Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	59	27
Advisory and Other Revenue [Member] | Advisory [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	13	14
Advisory and Other Revenue [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 46	$ 13

Revenue - Summary of Investme_2

Revenue - Summary of Investment Advisory, Administration Fees and Securities Lending Revenue by Client Type and Investment Style (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Total revenue	$ 4,728	$ 4,243
Revenue by Client Type [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,778	3,502
Revenue by Client Type [Member] | Retail [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,041	1,032
Revenue by Client Type [Member] | Equity ETFs [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,567	1,418
Revenue by Client Type [Member] | Institutional Active [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	697	622
Revenue by Client Type [Member] | Institutional Index [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	228	221
Revenue by Client Type [Member] | Institutional [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	925	843
Revenue by Client Type [Member] | Cash Management [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	245	209
Revenue by Client Type [Member] | Long-term [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,533	3,293
Revenue by Investment Style [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,778	3,502
Revenue by Investment Style [Member] | Active [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,681	1,606
Revenue by Investment Style [Member] | Cash Management [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	245	209
Revenue by Investment Style [Member] | Equity Index and ETFs [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,852	1,687
Revenue by Investment Style [Member] | Long-term [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 3,533	$ 3,293

Revenue - Schedule of Estimated

Revenue - Schedule of Estimated Investment Advisory, Administration Fees Expected to be Recognized in Future, Related to Unsatisfied Portion of Performance Obligations (Detail) - Investment Advisory, Administration Fees and Securities Lending Revenue [Member] - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation	$ 659	$ 446
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-04-01
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		9 months
Revenue, Remaining Performance Obligation		$ 123
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		1 year
Revenue, Remaining Performance Obligation		$ 120
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	9 months
Revenue, Remaining Performance Obligation	$ 152
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year	1 year
Revenue, Remaining Performance Obligation	$ 180	$ 87
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year	1 year
Revenue, Remaining Performance Obligation	$ 159	$ 67
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year	1 year
Revenue, Remaining Performance Obligation	$ 119	$ 49
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2028-01-01
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation	$ 49

Revenue - Schedule of Estimat_2

Revenue - Schedule of Estimated Investment Advisory, Administration Fees Expected to be Recognized in Future, Related to Unsatisfied Portion of Performance Obligations (Detail 1) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Investment Advisory, Administration Fees and Securities Lending Revenue [Member]
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation	$ 659	$ 446

Revenue - Schedule of Changes i

Revenue - Schedule of Changes in Deferred Carried Interest Liability (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue From Contract With Customer [Abstract]
Beginning balance	$ 1,783	$ 1,420
Net increase (decrease) in unrealized allocations	142	54
Performance fee revenue recognized	(111)	(16)
Ending balance	$ 1,814	$ 1,458

Revenue - Schedule of Estimat_3

Revenue - Schedule of Estimated Technology Services Revenue Expected to Be Recognized in Future, Related to Unsatisfied Portion of Performance Obligations (Detail) - Technology Services Revenue [Member] - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation	$ 303	$ 224
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-04-01
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		9 months
Revenue, Remaining Performance Obligation		$ 87
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		1 year
Revenue, Remaining Performance Obligation		$ 56
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	9 months
Revenue, Remaining Performance Obligation	$ 104
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year	1 year
Revenue, Remaining Performance Obligation	$ 76	$ 37
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year	1 year
Revenue, Remaining Performance Obligation	$ 59	$ 26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year	1 year
Revenue, Remaining Performance Obligation	$ 33	$ 18
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2028-01-01
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation	$ 31

Revenue - Schedule of Estimat_4

Revenue - Schedule of Estimated Technology Services Revenue Expected to Be Recognized in Future, Related to Unsatisfied Portion of Performance Obligations (Detail 1) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Technology Services Revenue [Member]
Schedule of Technology Services Revenue [line Items]
Revenue, Remaining Performance Obligation	$ 303	$ 224

Revenue - Additional Informatio

Revenue - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Estimated annual fixed minimum fees for currently outstanding contracts	$ 830
Minimum [Member]
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Term of currently outstanding contracts	1 year
Maximum [Member]
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Term of currently outstanding contracts	5 years

Revenue - Schedule of Changes_2

Revenue - Schedule of Changes in Technology Services Deferred Revenue Liability (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue From Contract With Customer [Abstract]
Beginning balance	$ 133	$ 125
Additions	25	21
Revenue recognized that was included in the beginning balance	(28)	(26)
Ending balance	$ 130	$ 120

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Detail) - $ / shares	1 Months Ended	3 Months Ended
	Jan. 31, 2024	Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, beginning of period	1,772,639	1,772,639
RSUs, Granted		813,233
RSUs, Converted		(679,259)
RSUs, Forfeited		(15,646)
RSUs, end of period		1,890,967
Weighted-Average Grant Date Fair Value, beginning of period	$ 757.49	$ 757.49
Weighted-Average Grant Date Fair Value, Granted		802.17
Weighted-Average Grant Date Fair Value, Converted		760.44
Weighted-Average Grant Date Fair Value, Forfeited or Reduction of shares		783.74
Weighted-Average Grant Date Fair Value, end of period		$ 775.42
Performance-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, beginning of period	456,384	456,384
RSUs, Granted		165,631
Reduction of shares due to performance measures	42,341	(42,341)
RSUs, Converted		(115,631)
RSUs, end of period		464,043
Weighted-Average Grant Date Fair Value, beginning of period	$ 767.69	$ 767.69
Weighted-Average Grant Date Fair Value, Granted		798.83
Weighted-Average Grant Date Fair Value, Converted		739.22
Weighted-Average Grant Date Fair Value, Forfeited or Reduction of shares		739.22
Weighted-Average Grant Date Fair Value, end of period		$ 788.49

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended
	May 30, 2023	Jan. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted			813,233
Fair value of RSUs granted to employees			$ 652
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period, years			5 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period, years			2 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted		347,000
Award vesting period, years		3 years
Awards to employees cliff vesting		344,000
RSUs to employees that cliff vest, percentage		100%
RSUs to employees that cliff vest, date		Jan. 31, 2027
Intrinsic value of outstanding RSUs			$ 1,600
Stock price			$ 833.7
Remaining weighted-average period			1 year 10 months 24 days
Unrecognized stock-based compensation expense			$ 817
Restricted Stock Units (RSUs) [Member] | GIP Transaction [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted			106,000
Performance-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted			165,631
Award vesting period, years		3 years
Awards to employees cliff vesting		165,631
RSUs to employees that cliff vest, percentage		100%
RSUs to employees that cliff vest, date		Jan. 31, 2027
Intrinsic value of outstanding RSUs			$ 387
Stock price			$ 833.7
Unrecognized stock-based compensation expense			$ 186
Remaining weighted-average period			1 year 10 months 24 days
Reduction of shares due to performance measures		(42,341)	42,341
Fair value of RSUs/restricted stock granted to employees			$ 101
Share based compensation vesting option exercised period			up to nine years
Performance Based Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted-average period			3 years 2 months 12 days
Award vesting percentage of BlackRock's grant-date stock price	130%		125%
Award vesting period of BlackRock's grant-date stock price	4 years		5 years
Award performance measurement period			4 years
Aggregate intrinsic value of options exercised			$ 82
Number of shares awarded to purchase	814,482
Award vesting period of BlackRock's performance period	3 years
Share based compensation vesting option exercised period	up to nine years
Performance Based Stock Options [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs to employees that cliff vest, percentage	25%
RSUs to employees that cliff vest, vesting date	May 30, 2027
Service year of awards			2022
Performance Based Stock Options [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs to employees that cliff vest, percentage	25%
RSUs to employees that cliff vest, vesting date	May 30, 2028
Service year of awards			2023
Performance Based Stock Options [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs to employees that cliff vest, percentage	50%
RSUs to employees that cliff vest, vesting date	May 30, 2029
Service year of awards			2024
2023 Performance-based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Strike price			$ 673.58	$ 673.58
Time Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense			$ 141
Number of shares awarded to purchase	326,391
Share based compensation vesting option exercised period	up to nine years
Time Based Stock Options | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs to employees that cliff vest, percentage	25%
RSUs to employees that cliff vest, vesting date	May 30, 2027
Time Based Stock Options | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs to employees that cliff vest, percentage	25%
RSUs to employees that cliff vest, vesting date	May 30, 2028
Time Based Stock Options | Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs to employees that cliff vest, percentage	50%
RSUs to employees that cliff vest, vesting date	May 30, 2029

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Detail)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Shares Under Option, End of Period	2,362,613
2017 Performance-based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Shares Under Option, Beginning of Period	1,549,080
Outstanding, Shares Under Option, Exercised	(279,828)
Outstanding, Shares Under Option, Forfeited	0
Outstanding, Shares Under Option, End of Period	1,269,252
Weighted Average Exercise Price, Beginning of Period | $ / shares	$ 513.5
Weighted Average Exercise Price, Exercised | $ / shares	513.5
Weighted Average Exercise Price, Forfeited | $ / shares	0
Weighted Average Exercise Price, End of Period | $ / shares	$ 513.5
2023 Performance-based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Shares Under Option, Beginning of Period	807,695
Outstanding, Shares Under Option, Exercised	0
Outstanding, Shares Under Option, Forfeited	(40,725)
Outstanding, Shares Under Option, End of Period	766,970
Weighted Average Exercise Price, Beginning of Period | $ / shares	$ 673.58
Weighted Average Exercise Price, Exercised | $ / shares	0
Weighted Average Exercise Price, Forfeited | $ / shares	673.58
Weighted Average Exercise Price, End of Period | $ / shares	$ 673.58
2023 Time-based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Shares Under Option, Beginning of Period	326,391
Outstanding, Shares Under Option, Exercised	0
Outstanding, Shares Under Option, Forfeited	0
Outstanding, Shares Under Option, End of Period	326,391
Weighted Average Exercise Price, Beginning of Period | $ / shares	$ 673.58
Weighted Average Exercise Price, Exercised | $ / shares	0
Weighted Average Exercise Price, Forfeited | $ / shares	0
Weighted Average Exercise Price, End of Period | $ / shares	$ 673.58

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Option Activity 1 (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding	2,362,613
Outstanding, Shares Under Option, Weighted Average Remaining Contractual Life	5 years 2 months 12 days
Options Outstanding, Aggregate Intrinsic Value	$ 581
Options Exercisable	711,328
Options Exercisable, Weighted Average Remaining Life (years)	2 years 8 months 12 days
Options Exercisable, Aggregate Intrinsic Value	$ 228
2017 Performance-based Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Exercise Prices	$ 513.5	$ 513.5
Options Outstanding	1,269,252	1,549,080
Outstanding, Shares Under Option, Weighted Average Remaining Contractual Life	2 years 8 months 12 days
Options Outstanding, Aggregate Intrinsic Value	$ 406
Options Exercisable, Exercise Prices	$ 513.5
Options Exercisable	711,328
Options Exercisable, Weighted Average Remaining Life (years)	2 years 8 months 12 days
Options Exercisable, Aggregate Intrinsic Value	$ 228
2023 Performance-based Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Exercise Prices	$ 673.58	$ 673.58
Options Outstanding	766,970	807,695
Outstanding, Shares Under Option, Weighted Average Remaining Contractual Life	8 years 2 months 12 days
Options Outstanding, Aggregate Intrinsic Value	$ 123
Options Exercisable, Exercise Prices	$ 673.58
Options Exercisable	0
Options Exercisable, Weighted Average Remaining Life (years)	0 years
Options Exercisable, Aggregate Intrinsic Value	$ 0
2023 Time-based Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Exercise Prices	$ 673.58	$ 673.58
Options Outstanding	326,391	326,391
Outstanding, Shares Under Option, Weighted Average Remaining Contractual Life	8 years 2 months 12 days
Options Outstanding, Aggregate Intrinsic Value	$ 52
Options Exercisable, Exercise Prices	$ 673.58
Options Exercisable	0
Options Exercisable, Weighted Average Remaining Life (years)	0 years
Options Exercisable, Aggregate Intrinsic Value	$ 0

Stock-Based Compensation - St_3

Stock-Based Compensation - Stock Option Activity (Parenthetical) (Details) shares in Millions	Mar. 31, 2024 shares
2017 Performance-based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Shares Under Option, Expected to Vest	0.6
2023 Performance-based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Shares Under Option, Expected to Vest	0.8
2023 Time-based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Shares Under Option, Expected to Vest	0.3

Net Capital Requirements - Addi

Net Capital Requirements - Additional Information (Detail) $ in Billions	Mar. 31, 2024 USD ($)
Regulatory Capital Requirements [Abstract]
Net capital requirement in certain regulated subsidiaries	$ 1.8

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in AOCI (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 39,500	$ 37,876
Foreign currency translation adjustments	(93)	126	[1]
Balance	39,895	37,830
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(840)	(1,101)
Foreign currency translation adjustments	(93)	126
Balance	$ (933)	$ (975)
[1] Amount for the three months ended March 31, 2024 includes a gain from a net investment hedge of $ 13 million (net of tax expense of $ 4 million). Amount for the three months ended March 31, 2023 includes a loss from a net investment hedge of $ 10 million (net of tax benefit of $ 3 million).

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Changes in AOCI (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Amounts Reclassified Out Of Accumulated Other Comprehensive Income Loss [Abstract]
Gain (loss) from net investment hedging, net of tax	$ 13	$ (10)
Gain (loss) from net investment hedging, tax (expense) benefit	$ (4)	$ 3

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Capitalization, Equity [Line Items]
Common shares repurchased, value	$ 375	$ 375
Share Repurchase Program [Member]
Schedule of Capitalization, Equity [Line Items]
Common shares repurchased	0.5
Common shares repurchased, value	$ 375
Shares authorized to be repurchased	5.3

Restructuring Charge - Addition

Restructuring Charge - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring charge	$ 61	$ 91
Restructuring charge after-tax	46	69
Severance	47	58
Accelerated vesting expense of deferred compensation awards	$ 14
Accelerated amortization of previously granted stock-based compensation awards		$ 33

Restructuring Charge - Rollforw

Restructuring Charge - Rollforward of Restructuring Liability Included in Other Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Beginning liability	$ 47	$ 58
Cash payments	(33)	(34)
Ending liability	$ 14	$ 24

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Discrete tax benefits related to resolution of outstanding tax matters	$ 28	$ 38
Discrete income tax benefits	$ 137	$ 38

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings per Share ("EPS") under Treasury Stock Method (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share Basic And Diluted [Line Items]
Net income attributable to BlackRock, Inc.	$ 1,573	$ 1,157
Basic weighted-average shares outstanding	148,689,172	149,909,343
Total diluted weighted-average shares outstanding	150,125,182	151,349,829
Basic earnings per share	$ 10.58	$ 7.72
Diluted earnings per share	$ 10.48	$ 7.64
Restricted Stock Units (RSUs) [Member]
Earnings Per Share Basic And Diluted [Line Items]
Dilutive effect of	944,335	1,007,476
Stock Options [Member]
Earnings Per Share Basic And Diluted [Line Items]
Dilutive effect of	491,675	433,010

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restricted Stock Units (RSUs) [Member]
Earnings Per Share Basic And Diluted [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	338,300	394,076

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2024 Segment
Segment Reporting [Abstract]
Number of business segments	1

Segment Information - Total Rev

Segment Information - Total Revenue by Geographic Region (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Revenue	$ 4,728	$ 4,243
Americas [Member]
Segment Reporting Information [Line Items]
Revenue	3,138	2,831
Europe [Member]
Segment Reporting Information [Line Items]
Revenue	1,403	1,224
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Revenue	$ 187	$ 188

Segment Information - Schedule

Segment Information - Schedule of Long-Lived Assets by Geographic Region (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Long-lived assets	$ 16,628	$ 16,636
Americas [Member]
Segment Reporting Information [Line Items]
Long-lived assets	15,012	15,017
Europe [Member]
Segment Reporting Information [Line Items]
Long-lived assets	1,520	1,521
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Long-lived assets	$ 96	$ 98

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Global Infrastructure Management, LLC [Member] shares in Millions, $ in Billions	1 Months Ended
	Jan. 31, 2024 USD ($) shares
Subsequent Event [Line Items]
Business acquisition, percentage of equity interest acquired	100%
Payment of acquisition | $	$ 3
Common shares repurchased | shares	12
Percentage of total consideration	30%