Exhibit 12.1
BlackRock, Inc.
Computation of Earnings to Fixed Charges
(unaudited)
(Dollar amounts in 000’s) | Year ended December 31, | Six Months ended June 30, | ||||||||||||||||||||||||||
2002 | 2003 | 2004 | 2005 | 2006 | 2006 | 2007 | ||||||||||||||||||||||
Pre-tax income | $ | 223,948 | $ | 250,902 | $ | 200,438 | $ | 375,755 | $ | 528,233 | $ | 134,266 | $ | 417,632 | ||||||||||||||
Add: Fixed charges | 4,726 | 5,211 | 5,590 | 15,236 | 22,393 | 8,216 | 33,312 | |||||||||||||||||||||
Distributions from equity investees | 1,008 | 3,144 | 2,276 | 2,620 | 1,939 | 397 | 5,118 | |||||||||||||||||||||
Less: Income from equity investees | (2,098 | ) | (4,912 | ) | (2,549 | ) | (11,526 | ) | (5,659 | ) | (5,091 | ) | (22,475 | ) | ||||||||||||||
Pre-tax income before fixed charges | $ | 227,584 | $ | 254,345 | $ | 205,755 | $ | 382,085 | $ | 546,906 | $ | 137,788 | $ | 433,587 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 683 | $ | 720 | $ | 835 | $ | 7,924 | $ | 9,916 | $ | 3,999 | $ | 21,209 | ||||||||||||||
Portion of rent representative of interest | 4,043 | 4,491 | 4,755 | 7,312 | 12,477 | 4,217 | 12,104 | |||||||||||||||||||||
Total fixed charges | $ | 4,726 | $ | 5,211 | $ | 5,590 | $ | 15,236 | $ | 22,393 | $ | 8,216 | $ | 33,313 | ||||||||||||||
Ratio of earnings to fixed charges | 48.15 | 48.81 | 36.81 | 25.08 | 24.42 | 16.77 | 13.02 | |||||||||||||||||||||