BlackRock (BLK) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 31, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
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		151,917,177
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	55 East 52nd Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10055
City Area Code	212
Local Phone Number	810-5300
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		Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	[1]	$ 7,361	$ 8,664
Accounts receivable		4,015	3,535
Investments	[1]	7,101	6,919
Separate account assets		96,755	104,663
Separate account collateral held under securities lending agreements		14,106	16,507
Property and equipment (net of accumulated depreciation and amortization of $1,257 and$1,098 at September 30, 2021 and December 31, 2020, respectively)		703	681
Intangible assets (net of accumulated amortization of $389 and $291 atSeptember 30, 2021 and December 31, 2020, respectively)		18,476	18,263
Goodwill		15,360	14,551
Operating lease right-of-use assets		1,798	649
Other assets	[1]	3,961	2,550
Total assets		169,636	176,982
Liabilities
Accrued compensation and benefits		2,343	2,499
Accounts payable and accrued liabilities		1,402	1,028
Borrowings		6,474	7,264
Separate account liabilities		96,755	104,663
Separate account collateral liabilities under securities lending agreements		14,106	16,507
Deferred income tax liabilities		3,659	3,673
Operating lease liabilities		1,946	755
Other liabilities	[1]	4,585	2,937
Total liabilities		131,270	139,326
Commitments and contingencies (Note 15)
Temporary equity
Redeemable noncontrolling interests		1,437	2,322
Permanent Equity
Shares authorized: 500,000,000 at September 30, 2021 and December 31, 2020; Shares issued: 172,075,373 at both September 30, 2021 and December 31, 2020; Shares outstanding: 151,988,234 and 152,532,885 at September 30, 2021 and December 31, 2020, respectively		2	2
Additional paid-in capital		19,462	19,293
Retained earnings		26,672	24,334
Accumulated other comprehensive loss		(526)	(337)
Treasury stock, common, at cost (20,087,139 and 19,542,488 shares held at September 30, 2021 and December 31, 2020, respectively)		(8,793)	(8,009)
Total BlackRock, Inc. stockholders’ equity		36,817	35,283
Nonredeemable noncontrolling interests		112	51
Total permanent equity		36,929	35,334
Total liabilities, temporary equity and permanent equity		$ 169,636	$ 176,982
[1]	At September 30, 2021, cash and cash equivalents, investments, other assets and other liabilities include $204 million, $4,099 million, $83 million, and $1,799 million, respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2020, cash and cash equivalents, investments, other assets and other liabilities include $155 million, $4,253 million, $90 million, and $952 million, respectively, related to consolidated VIEs.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Property and equipment, accumulated depreciation		$ 1,257	$ 1,098
Intangible assets, accumulated amortization		$ 389	$ 291
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		151,988,234	152,532,885
Treasury stock, common shares		20,087,139	19,542,488
Cash and cash equivalents	[1]	$ 7,361	$ 8,664
Investments	[1]	7,101	6,919
Other assets	[1]	3,961	2,550
Other liabilities	[1]	4,585	2,937
Consolidated Variable Interest Entities [Member]
Cash and cash equivalents		204	155
Investments		4,099	4,253
Other assets		83	90
Other liabilities		$ 1,799	$ 952
[1]	At September 30, 2021, cash and cash equivalents, investments, other assets and other liabilities include $204 million, $4,099 million, $83 million, and $1,799 million, respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2020, cash and cash equivalents, investments, other assets and other liabilities include $155 million, $4,253 million, $90 million, and $952 million, respectively, related to consolidated VIEs.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue
Total revenue	$ 5,050	$ 4,369	$ 14,268	$ 11,727
Expense
Employee compensation and benefits	1,527	1,411	4,484	3,700
Distribution and servicing costs	585	456	1,613	1,330
Direct fund expense	354	257	994	780
General and administration expense	611	461	1,657	1,991
Amortization of intangible assets	38	27	109	79
Total expense	3,115	2,612	8,857	7,880
Operating income	1,935	1,757	5,411	3,847
Nonoperating income (expense)
Net gain (loss) on investments	370	269	766	627
Interest and dividend income	14	9	41	34
Interest expense	(48)	(54)	(155)	(151)
Total nonoperating income (expense)	336	224	652	510
Income before income taxes	2,271	1,981	6,063	4,357
Income tax expense	518	464	1,490	811
Net income	1,753	1,517	4,573	3,546
Net income (loss) attributable to noncontrolling interests	72	153	315	162
Net income attributable to BlackRock, Inc.	$ 1,681	$ 1,364	$ 4,258	$ 3,384
Earnings per share attributable to BlackRock, Inc. common stockholders:
Basic	$ 11.05	$ 8.94	$ 27.94	$ 22
Diluted	$ 10.89	$ 8.87	$ 27.59	$ 21.84
Weighted-average common shares outstanding:
Basic	152,120,927	152,488,073	152,375,504	153,816,544
Diluted	154,343,277	153,742,264	154,352,590	154,959,812
Investment Advisory, Administration Fees and Securities Lending Revenue [Member]
Revenue
Total revenue	$ 3,943	$ 3,225	$ 11,292	$ 9,246
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Related Parties [Member]
Revenue
Total revenue	2,964	2,329	8,478	6,556
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Other Third Parties [Member]
Revenue
Total revenue	979	896	2,814	2,690
Investment Advisory Performance Fees [Member]
Revenue
Total revenue	345	532	814	685
Technology Services Revenue [Member]
Revenue
Total revenue	320	282	942	834
Distribution Fees [Member]
Revenue
Total revenue	401	288	1,110	817
Advisory and Other Revenue [Member]
Revenue
Total revenue	$ 41	$ 42	$ 110	$ 145

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income		$ 1,753	$ 1,517	$ 4,573	$ 3,546
Other comprehensive income (loss):
Foreign currency translation adjustments	[1]	(138)	180	(189)	(30)
Comprehensive income (loss)		1,615	1,697	4,384	3,516
Less: Comprehensive income (loss) attributable to noncontrolling interests		72	153	315	162
Comprehensive income attributable to BlackRock, Inc.		$ 1,543	$ 1,544	$ 4,069	$ 3,354
[1]	Amounts for the three months ended September 30, 2021 and 2020 include a gain from a net investment hedge of $14 million (net of tax expense of $5 million) and a loss of $26 million (net of tax benefit of $8 million), respectively. Amounts for the nine months ended September 30, 2021 and 2020 include a gain from a net investment hedge of $34 million (net of tax expense of $11 million) and a loss of $27 million (net of tax benefit of $8 million), respectively

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Gain (loss) from net investment hedging, net of tax	$ 14	$ (26)	$ 34	$ (27)
Gain (loss) from net investment hedging, tax (expense) benefit	$ (5)	$ 8	$ (11)	$ 8

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, 2019	$ 33,613	$ 19,188	[1]	$ 21,662	$ (571)	$ (6,732)	$ 33,547	$ 66		$ 1,316
Net income	3,382			3,384			3,384	(2)		164
Dividends declared	(1,706)			(1,706)			(1,706)
Stock-based compensation	458	458	[1]				458
Issuance of common shares related to employee stock transactions	12	(494)	[1]			506	12
Employee tax withholdings related to employee stock transactions	(280)					(280)	(280)
Shares repurchased	(1,512)					(1,512)	(1,512)
Contributions (redemptions/distributions) — noncontrolling interest holders	(5)							(5)		1,363
Net consolidations (deconsolidations) of sponsored investment funds										(759)
Other comprehensive income (loss)	(30)				(30)		(30)
Balance at Sep. 30, 2020	33,932	19,152	[1],[2]	23,340	(601)	(8,018)	33,873	59		2,084
Balance at Jun. 30, 2020	32,786	19,009	[2]	22,532	(781)	(8,030)	32,730	56		1,248
Net income	1,362			1,364			1,364	(2)		155
Dividends declared	(556)			(556)			(556)
Stock-based compensation	160	160	[2]				160
Issuance of common shares related to employee stock transactions	5	(17)	[2]			22	5
Employee tax withholdings related to employee stock transactions	(10)					(10)	(10)
Contributions (redemptions/distributions) — noncontrolling interest holders	5							5		548
Net consolidations (deconsolidations) of sponsored investment funds										133
Other comprehensive income (loss)	180				180		180
Balance at Sep. 30, 2020	33,932	19,152	[1],[2]	23,340	(601)	(8,018)	33,873	59		2,084
Balance at Dec. 31, 2020	35,334	19,295	[3]	24,334	(337)	(8,009)	35,283	51	[4]	2,322	[4]
Net income	4,254			4,258			4,258	(4)	[4]	319	[4]
Dividends declared	(1,920)			(1,920)			(1,920)
Stock-based compensation	551	551	[3]				551
Issuance of common shares related to employee stock transactions	16	(382)	[3]			398	16
Employee tax withholdings related to employee stock transactions	(282)					(282)	(282)
Shares repurchased	(900)					(900)	(900)
Contributions (redemptions/distributions) — noncontrolling interest holders	68							68	[4]	1,058	[4]
Net consolidations (deconsolidations) of sponsored investment funds	(3)							(3)	[4]	(2,262)	[4]
Other comprehensive income (loss)	(189)				(189)		(189)
Balance at Sep. 30, 2021	36,929	19,464	[3],[5]	26,672	(526)	(8,793)	36,817	112	[4],[6]	1,437	[4],[6]
Balance at Jun. 30, 2021	36,148	19,299	[5]	25,620	(388)	(8,498)	36,033	115	[6]	2,242	[6]
Net income	1,675			1,681			1,681	(6)	[6]	78	[6]
Dividends declared	(629)			(629)			(629)
Stock-based compensation	173	173	[5]				173
Issuance of common shares related to employee stock transactions	6	(8)	[5]			14	6
Employee tax withholdings related to employee stock transactions	(9)					(9)	(9)
Shares repurchased	(300)					(300)	(300)
Contributions (redemptions/distributions) — noncontrolling interest holders	7							7	[6]	282	[6]
Net consolidations (deconsolidations) of sponsored investment funds	(4)							(4)	[6]	(1,165)	[6]
Other comprehensive income (loss)	(138)				(138)		(138)
Balance at Sep. 30, 2021	$ 36,929	$ 19,464	[3],[5]	$ 26,672	$ (526)	$ (8,793)	$ 36,817	$ 112	[4],[6]	$ 1,437	[4],[6]
[1]	Amounts include $2 million of common stock at both September 30, 2020 and December 31, 2019.
[2]	Amounts include $2 million of common stock at both September 30, 2020 and June 31, 2020.
[3]	Amounts include $2 million of common stock at both September 30, 2021 and December 31, 2020.
[4]	At September 30, 2021, amounts include noncontrolling interests related to consolidated sponsored investment products (“CIPs”) and a consolidated affiliate.
[5]	Amounts include $2 million of common stock at both September 30, 2021 and June 30, 2021.
[6]	At September 30, 2021, amounts include noncontrolling interests related to CIPs and a consolidated affiliate.

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Changes in Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Additional Paid-in Capital, value of stock	$ 36,929	$ 33,932	$ 36,929	$ 33,932	$ 36,148	$ 35,334	$ 32,786	$ 33,613
Common Stock [Member]
Additional Paid-in Capital, value of stock	$ 2	$ 2	$ 2	$ 2	$ 2	$ 2	$ 2	$ 2
Dividends declared, amount per share	$ 4.13	$ 3.63	$ 12.39	$ 10.89

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net income	$ 4,573	$ 3,546
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and amortization	305	255
Noncash lease expense	101	87
Stock-based compensation	551	458
Deferred income tax expense (benefit)	(5)	20
Charitable Contribution		589
Gain related to the Charitable Contribution		(122)
Other investment gains	(153)	(244)
Net (gains) losses within CIPs	(350)	(161)
Net (purchases) proceeds within CIPs	(1,047)	(1,603)
(Earnings) losses from equity method investees	(226)	(75)
Distributions of earnings from equity method investees	54	25
Changes in operating assets and liabilities:
Accounts receivable	(527)	(544)
Investments, trading	113	153
Other assets	(1,289)	(864)
Accrued compensation and benefits	(180)	(206)
Accounts payable and accrued liabilities	354	(183)
Other liabilities	753	633
Net cash provided by/(used in) operating activities	3,027	1,764
Investing activities
Purchases of investments	(579)	(252)
Proceeds from sales and maturities of investments	294	133
Distributions of capital from equity method investees	77	124
Net consolidations (deconsolidations) of sponsored investment funds	(59)	(42)
Acquisitions, net of cash acquired	(1,097)
Purchases of property and equipment	(215)	(140)
Net cash provided by/(used in) investing activities	(1,579)	(177)
Financing activities
Proceeds from long-term borrowings		2,245
Repayments of long-term borrowings	(750)
Cash dividends paid	(1,920)	(1,706)
Repurchases of common stock	(1,182)	(1,792)
Net proceeds from (repayments of) borrowings by CIPs	32	38
Net contributions (redemptions/distributions) - noncontrolling interest holders	1,126	1,358
Other financing activities	(1)	(37)
Net cash provided by/(used in) financing activities	(2,695)	106
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(56)	(15)
Net increase/(decrease) in cash, cash equivalents and restricted cash	(1,303)	1,678
Cash, cash equivalents and restricted cash, beginning of period	8,681	4,846
Cash, cash equivalents and restricted cash, end of period	7,378	6,524
Supplemental schedule of noncash investing and financing transactions:
Issuance of common stock	382	494
Charitable Contribution of an investment		(589)
Increase (decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds	$ (2,265)	$ (759)

Business Overview

Business Overview	9 Months Ended
	Sep. 30, 2021
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 tailor investment outcomes 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, exchange-traded funds (“ETFs”), separate accounts, collective trust funds (“CTFs”) and other pooled investment vehicles. BlackRock also offers technology services, including the investment and risk management technology platform, Aladdin ®

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
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 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 notes related thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the Securities and Exchange Commission on February 25, 2021 (“2020 Form 10-K”). The interim financial information at September 30, 2021 and for the three and nine months ended September 30, 2021 and 2020 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 and disclosures, while not required to be recast, were reclassified to ensure comparability with current period classifications. Consolidated Affiliate . During the second quarter of 2021, the Company formed a majority-controlled asset management company in China - BlackRock CCB Wealth Management Company Ltd. (“WMC”). WMC is 50.1% owned by the Company. The Company consolidates WMC, which it deems to be a voting rights entity (“VRE”), because it can exert control over the financial and operating policies of the entity, based on the Company’s 50.1% ownership and voting rights. Noncontrolling Interests. NCI consist of third-party investments in the Company’s sponsored investment products and minority interests in WMC. The Company reports NCI as equity, separate from the parent’s equity, on the condensed consolidated statements of financial condition. NCI that are redeemable at the option of the holders are classified as temporary equity and nonredeemable NCI are classified as a component of permanent equity in the condensed consolidated statements of financial condition. In addition, the Company reports net income (loss) attributable to redeemable and nonredeemable NCI holders in net income (loss) attributable to NCI in the condensed consolidated statements of income. Noncontrolling Interests – CIPs. NCI of CIPs represent third-party investments in the Company’s sponsored investment products. Noncontrolling Interests – Consolidated Affiliate. NCI of consolidated affiliate represent minority interests held in WMC, a consolidated affiliate. NCI of a consolidated affiliate that are classified as nonredeemable are included as a component of permanent equity in the condensed consolidated statements of financial condition. NCI of a consolidated affiliate that are classified as redeemable are included in temporary equity at estimated redemption value in the condensed consolidated statements of financial condition. 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 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, investments in collateralized loan obligations (“CLOs”), bank loans, short-term floating-rate notes, asset-backed securities, securities held within consolidated hedge funds, restricted public securities valued at a discount, as well as over-the-counter derivatives, including interest and inflation 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 held within consolidated funds, investments in CLOs and bank loans held within consolidated CLOs. • 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. 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, investments in CLOs and bank loans is 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 Values. 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 generally 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 bank 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 exposures for certain seed investments. However, certain consolidated sponsored investment funds may also utilize derivatives as a part of their investment strategy. 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 assets or liabilities or hedged investments, 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 whose functional currency is not 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. Amounts excluded from the effectiveness assessment are reported in the condensed consolidated statements of income using a systematic and rational method. 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 receives legal title to the collateral with minimum values generally ranging from approximately 102% to 112% of the value of the securities lent 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. The Company records on the condensed consolidated statements of financial condition the cash and noncash collateral received under these BlackRock Life Limited securities lending arrangements as its own asset in addition to an equal and offsetting collateral liability for the obligation to return the collateral. 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. During the nine months ended September 30, 2021 and 2020, the Company had not resold or repledged any of the collateral received under these arrangements. At September 30, 2021 and December 31, 2020, the fair value of loaned securities held by separate accounts was approximately $13 billion and $15.2 billion, respectively, and the fair value of the collateral held under these securities lending agreements was approximately $14.1 billion and $16.5 billion, respectively. Money Market Fee Waivers. The Company may voluntarily waive a portion of its management fees on certain money market funds to ensure that they maintain a targeted level of daily net investment income (the “Yield Support waivers”). During the three and nine months ended September 30, 2021, these waivers resulted in a reduction of management fees of approximately $130 million and $360 million, respectively, which was partially offset by a reduction of BlackRock’s distribution and servicing costs paid to financial intermediaries. There were no Yield Support waivers for the three and nine months ended September 30, 2020. The Company may increase or decrease the level of Yield Support waivers in future periods.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Acquisitions	3. Acquisitions Aperio Group, LLC On February 1, 2021, the Company acquired 100% of the equity interests of Aperio Group, LLC (the “Aperio Transaction” or “Aperio”), a pioneer in customizing tax-optimized index equity separately managed accounts (“SMAs”) for approximately $1.1 billion in cash, using existing cash resources. The acquisition of Aperio increased BlackRock’s SMA assets under management and expanded the breadth of the Company’s capabilities via tax-managed strategies across factors, broad market indexing, and investor Environmental, Social, and Governance preferences across all asset classes. The purchase price for the Aperio Transaction was allocated to the assets acquired and liabilities assumed based upon their estimated fair values at the date of the transaction. The goodwill recognized in connection with the acquisition is primarily attributable to anticipated synergies from the transaction. The amount of goodwill expected to be deductible for tax purposes is approximately $0.6 billion. (1) Estimate of (in millions) Fair Value Accounts receivable $ 16 Finite-lived intangible assets: Customer relationships (2) 270 Other 17 Goodwill 787 Deferred income tax liabilities (16 ) Other liabilities assumed (12 ) Total consideration, net of cash acquired $ 1,062 Summary of consideration, net of cash acquired: Cash paid $ 1,066 Cash acquired (4 ) Total consideration, net of cash acquired $ 1,062 (1) At this time, the Company does not expect material changes to the value of the assets acquired or liabilities assumed in conjunction with the transaction. (2) The fair value was determined based on the excess earnings method (a Level 3 input), has a weighted-average estimated useful life of approximately 10 years and is amortized using the accelerated amortization method. Finite-lived intangible assets are amortized over their estimated useful lives, which range from three to 10 years. Amortization expense related to the finite-lived intangible assets was $10 million and $27 million, respectively, for the three and nine months ended September 30, 2021. The finite-lived intangible assets had a weighted-average remaining useful life of approximately nine years with remaining amortization expense as follows: (in millions) Year Amount 2021 (excluding the nine months ended September 30, 2021) $ 10 2022 40 2023 38 2024 32 2025 29 Thereafter 111 Total $ 260 The financial results of Aperio have been included in BlackRock’s condensed consolidated financial statements from the closing of the Aperio Transaction. For the three and nine months ended September 30, 2021, Aperio contributed $22 million and $56 million, respectively, of revenue and did not have a material impact to net income attributable to BlackRock, Inc. Consequently, the Company has not presented pro forma combined results of operations for this acquisition. Baringa’s Climate Change Scenario Model In June 2021, the Company completed the acquisition of Baringa Partners’ Climate Change Scenario Model, which will be integrated into BlackRock’s Aladdin Climate technology, and will enhance Aladdin Climate’s capabilities and analytics.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	9 Months Ended
	Sep. 30, 2021
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	4. 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. September 30, December 31, 2021 2020 (in millions) Cash and cash equivalents $ 7,361 $ 8,664 Restricted cash included in other assets 17 17 Total cash, cash equivalents and restricted cash $ 7,378 $ 8,681

Investments

Investments	9 Months Ended
	Sep. 30, 2021
Investments Debt And Equity Securities [Abstract]
Investments	5. Investments A summary of the carrying value of total investments is as follows: September 30, December 31, (in millions) 2021 2020 Debt securities: Held-to-maturity investments $ 386 $ 310 Trading securities 1,480 1,964 Total debt securities 1,866 2,274 Equity securities at FVTNI (1) 1,591 2,317 Equity method investments (2) 1,544 1,081 Bank loans 282 248 Federal Reserve Bank stock (3) 95 94 Carried interest (4) 1,446 627 Other investments (5) 277 278 Total investments $ 7,101 $ 6,919 ( 1 ) Fair value recorded through net income (“FVTNI”). ( 2 ) Equity method investments primarily include BlackRock’s direct investments in certain BlackRock sponsored investment funds. ( 3 ) At both September 30, 2021 and December 31, 2020, there were no indicators of impairment of Federal Reserve Bank stock, which 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 and private equity and real asset investments of CIPs measured at fair value. Held-to-Maturity Investments The carrying value of held-to-maturity investments was $386 million and $310 million at September 30, 2021 and December 31, 2020, respectively. Held-to-maturity investments included certain investments in CLOs and foreign government debt held primarily for regulatory purposes. The amortized cost (carrying value) of these investments approximated fair value (primarily a Level 2 input). At September 30, 2021, $36 million of these investments mature between one to five years, $96 million of these investments mature between five to 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: September 30, 2021 December 31, 2020 (in millions) Cost Carrying Value Cost Carrying Value Trading debt securities: Corporate debt $ 961 $ 970 $ 1,591 $ 1,641 Government debt 403 403 203 210 Asset/mortgage-backed debt 120 107 132 113 Total trading debt securities $ 1,484 $ 1,480 $ 1,926 $ 1,964 Equity securities at FVTNI: Equity securities/mutual funds $ 1,311 $ 1,591 $ 2,055 $ 2,317 Total equity securities at FVTNI $ 1,311 $ 1,591 $ 2,055 $ 2,317

Consolidated Sponsored Investme

Consolidated Sponsored Investment Products	9 Months Ended
	Sep. 30, 2021
Statement Of Financial Position [Abstract]
Consolidated Sponsored Investment Products	6. Consolidated Sponsored Investment Products The Company consolidates certain sponsored investment funds accounted for as VREs because it is deemed to control such funds. In the normal course of business, the Company is the manager of various types of sponsored investment vehicles, which may be considered VIEs. The Company may from time to time own equity or debt securities or enter into derivatives 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 investments in the entity. The Company’s consolidated VIEs include certain sponsored investment products in which BlackRock has an investment 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: September 30, 2021 December 31, 2020 (in millions) VIEs VREs Total VIEs VREs Total Cash and cash equivalents $ 204 $ 61 $ 265 $ 155 $ 51 $ 206 Investments: Trading debt securities 1,258 167 1,425 1,618 310 1,928 Equity securities at FVTNI 946 308 1,254 1,592 413 2,005 Bank loans 282 — 282 248 — 248 Other investments 207 — 207 191 — 191 Carried interest 1,406 — 1,406 604 — 604 Total investments 4,099 475 4,574 4,253 723 4,976 Other assets 83 10 93 90 9 99 Other liabilities (1) (1,799 ) (39 ) (1,838 ) (952 ) (70 ) (1,022 ) Noncontrolling interests - CIPs (1,416 ) (59 ) (1,475 ) (2,193 ) (180 ) (2,373 ) BlackRock's net interests in CIPs $ 1,171 $ 448 $ 1,619 $ 1,353 $ 533 $ 1,886 (1) At both September 30, 2021 and December 31, 2020, 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 ownership interest in these CIPs. Valuation changes associated with investments 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. The Company cannot readily access cash and cash equivalents held by CIPs to use in its operating activities. Net gain (loss) related to consolidated VIEs is presented in the following table: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Nonoperating net gain (loss) on consolidated VIEs $ 50 $ 213 $ 323 $ 186 Net income (loss) attributable to NCI on consolidated VIEs $ 73 $ 149 $ 296 $ 169

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Variable Interest Entities	7. Variable Interest Entities Nonconsolidated VIEs . At September 30, 2021 and December 31, 2020, 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: (in millions) Advisory Fee Other Net Assets Maximum At September 30, 2021 Investments Receivables (Liabilities) Risk (1) Sponsored investment products $ 865 $ 71 $ (12 ) $ 953 At December Sponsored investment products $ 662 $ 71 $ (13 ) $ 750 (1) At both September 30, 2021 and December 31, 2020, 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 $23 billion and $16 billion at September 30, 2021 and December 31, 2020, respectively.

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Disclosures	8. Fair Value Disclosures Fair Value Hierarchy Assets and liabilities measured at fair value on a recurring basis September 30, 2021 (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments Measured at NAV (1) Other (2) September 30, 2021 Assets: Investments Debt securities: Held-to-maturity investments $ — $ — $ — $ — $ 386 $ 386 Trading securities — 1,450 30 — — 1,480 Total debt securities — 1,450 30 — 386 1,866 Equity securities at FVTNI: Equity securities/mutual funds 1,591 — — — — 1,591 Equity method: Equity and fixed income mutual funds 339 — — — — 339 Hedge funds/funds of hedge funds — — — 359 — 359 Private equity funds — — — 633 — 633 Real assets funds — — — 213 — 213 Total equity method 339 — — 1,205 — 1,544 Bank loans — 9 273 — — 282 Federal Reserve Bank Stock — — — — 95 95 Carried interest — — — — 1,446 1,446 Other investments (3) — 4 5 94 174 277 Total investments 1,930 1,463 308 1,299 2,101 7,101 Other assets (4) 197 23 — — — 220 Separate account assets 65,704 30,146 — — 905 96,755 Separate account collateral held under securities lending agreements: Equity securities 10,551 — — — — 10,551 Debt securities — 3,555 — — — 3,555 Total separate account collateral held under securities lending agreements 10,551 3,555 — — — 14,106 Total $ 78,382 $ 35,187 $ 308 $ 1,299 $ 3,006 $ 118,182 Liabilities: Separate account collateral liabilities under securities lending agreements $ 10,551 $ 3,555 $ — $ — $ — $ 14,106 Other liabilities (5) — 41 340 — — 381 Total $ 10,551 $ 3,596 $ 340 $ — $ — $ 14,487 (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, carried interest and certain equity method investments, which include sponsored investment funds and other assets, which are not accounted for under a fair value measure. In accordance with GAAP, certain equity method investees 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. (3) Level 3 amount primarily includes direct investments in private equity companies held by consolidated private equity funds. (4) Level 1 amount includes a minority investment in a publicly traded company. Level 2 amount primarily includes derivatives (See Note 9, Derivatives and Hedging, for more information). (5) Level 2 amount primarily includes derivatives (See Note 9, Derivatives and Hedging Commitments and Contingencies Assets and liabilities measured at fair value on a recurring basis December 31, 2020 (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments Measured at NAV (1) Other (2) December 31, 2020 Assets: Investments Debt securities: Held-to-maturity investments $ — $ — $ — $ — $ 310 $ 310 Trading securities — 1,953 11 — — 1,964 Total debt securities — 1,953 11 — 310 2,274 Equity securities at FVTNI: Equity securities/mutual funds 2,317 — — — — 2,317 Equity method: Equity and fixed income mutual funds 235 — — — — 235 Hedge funds/funds of hedge funds — — — 313 — 313 Private equity funds — — — 315 — 315 Real assets funds — — — 218 — 218 Total equity method 235 — — 846 — 1,081 Bank loans — 16 232 — — 248 Federal Reserve Bank Stock — — — — 94 94 Carried interest — — — — 627 627 Other investments (3) — — 9 94 175 278 Total investments 2,552 1,969 252 940 1,206 6,919 Other assets (4) 205 13 — — — 218 Separate account assets 71,392 32,404 — — 867 104,663 Separate account collateral held under securities lending agreements: Equity securities 13,126 — — — — 13,126 Debt securities — 3,381 — — — 3,381 Total separate account collateral held under securities lending agreements 13,126 3,381 — — — 16,507 Total $ 87,275 $ 37,767 $ 252 $ 940 $ 2,073 $ 128,307 Liabilities: Separate account collateral liabilities under securities lending agreements $ 13,126 $ 3,381 $ — $ — $ — $ 16,507 Other liabilities (5) — 68 272 — — 340 Total $ 13,126 $ 3,449 $ 272 $ — $ — $ 16,847 (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, carried interest and certain equity method investments, which include sponsored investment funds and other assets, which are not accounted for under a fair value measure. In accordance with GAAP, certain equity method investees 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. (3) Level 3 amount primarily includes direct investments in private equity companies held by consolidated private equity funds. (4) Level 1 amount includes a minority investment in a publicly traded company. (5) Level 2 amount primarily includes derivatives (See Note 9, Derivatives and Hedging Commitments and Contingencies Level 3 Assets. Level 3 assets may include investments in CLOs and bank loans of consolidated CLOs, which were valued based on single-broker nonbinding quotes, and direct private equity investments, which were valued using the market or income approach. Level 3 investments of $308 million and $252 million at September 30, 2021 and December 31, 2020, respectively, primarily included bank loans of a consolidated CLO. 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, and contingent liabilities related to certain acquisitions, which were valued based upon discounted cash flow analyses using unobservable market data inputs. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended September 30, 2021 (in millions) June 30, 2021 Realized and Unrealized Gains (Losses) Purchases Sales and Maturities Issuances and other Settlements (1) Transfers into Level 3 Transfers out of Level 3 September 30, 2021 Total Net Unrealized Gains (Losses) Included in Earnings (2) Assets: Investments: Debt securities: Trading $ 21 $ 2 $ 12 $ (5 ) $ — $ — $ — $ 30 $ 2 Total debt securities 21 2 12 (5 ) — — — 30 2 Private equity 5 1 — — — — (1 ) 5 1 Bank loans 261 — 16 — — 1 (5 ) 273 — Total investments $ 287 $ 3 $ 28 $ (5 ) $ — $ 1 $ (6 ) $ 308 $ 3 Liabilities: Other liabilities $ 298 $ (28 ) $ — $ — $ 14 $ — $ — $ 340 $ (28 ) Total Level 3 liabilities $ 298 $ (28 ) $ — $ — $ 14 $ — $ — $ 340 $ (28 ) (1) Amounts include proceeds from borrowings of a consolidated CLO and a contingent liability, partially offset by contingent liability payment related to a prior acquisition. (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 Nine Months Ended September 30, 2021 (in millions) December 31, 2020 Realized and Unrealized Gains (Losses) Purchases Sales and Maturities Issuances and other Settlements (1) Transfers into Level 3 Transfers out of Level 3 September 30, 2021 Total Net Unrealized Gains (Losses) Included in Earnings (2) Assets: Investments: Debt securities: Trading $ 11 $ 2 $ 24 $ (5 ) $ — $ — $ (2 ) $ 30 $ 2 Total debt securities 11 2 24 (5 ) — — (2 ) 30 2 Private equity 9 1 — — — — (5 ) 5 1 Bank loans 232 — 45 — — 11 (15 ) 273 — Total investments $ 252 $ 3 $ 69 $ (5 ) $ — $ 11 $ (22 ) $ 308 $ 3 Liabilities: Other liabilities $ 272 $ (32 ) $ — $ — $ 36 $ — $ — $ 340 $ (32 ) Total Level 3 liabilities $ 272 $ (32 ) $ — $ — $ 36 $ — $ — $ 340 $ (32 ) (1) Amounts include proceeds from borrowings of a consolidated CLO and a contingent liability, partially offset by contingent liability payments related to prior acquisitions. (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 September 30, 2020 (in millions) June 30, 2020 Realized and Unrealized Gains (Losses) Purchases Sales and Maturities Issuances and other Settlements (1) Transfers into Level 3 Transfers out of Level 3 September 30, 2020 Total Net Unrealized Gains (Losses) Included in Earnings (2) Assets: Investments: Debt securities: Trading $ 10 $ — $ 1 $ — $ — $ — $ — $ 11 $ — Total debt securities 10 — 1 — — — — 11 — Private equity 16 — — (6 ) — — — 10 — Bank loans 229 — — (9 ) — — (3 ) 217 — Total investments $ 255 $ — $ 1 $ (15 ) $ — $ — $ (3 ) $ 238 $ — Liabilities: Other liabilities $ 262 $ — $ — $ — $ (1 ) $ — $ — $ 261 $ — Total Level 3 liabilities $ 262 $ — $ — $ — $ (1 ) $ — $ — $ 261 $ — (1) Amount includes proceeds from borrowings of a consolidated CLO and contingent payments related to certain acquisitions. (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 Nine Months Ended September 30, 2020 (in millions) December 31, 2019 Realized and Unrealized Gains (Losses) Purchases Sales and Maturities Issuances and other Settlements (1) Transfers into Level 3 Transfers out of Level 3 September 30, 2020 Total Net Unrealized Gains (Losses) Included in Earnings (3) Assets: Investments: Debt securities: Trading $ 8 $ — $ 3 $ — $ — $ — $ — $ 11 $ — Total debt securities 8 — 3 — — — — 11 — Private equity 9 — 8 (7 ) — — — 10 — Bank loans 177 — 36 (9 ) — 16 (3 ) 217 — Total investments $ 194 $ — $ 47 $ (16 ) $ — $ 16 $ (3 ) $ 238 $ — Liabilities: Other liabilities $ 388 $ (23 ) $ — $ — $ (150 ) $ — $ — $ 261 $ (5 ) Total Level 3 liabilities $ 388 $ (23 ) $ — $ — $ (150 ) $ — $ — $ 261 $ (5 ) (1) Amount includes proceeds from borrowings of a consolidated CLO and contingent payments related to certain acquisitions. (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) on the condensed consolidated statements of income. A portion of net income (loss) for consolidated sponsored investment funds 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, or when the carrying value of certain equity method investments no longer represents fair value as determined under valuation methodologies. Disclosures of Fair Value for Financial Instruments Not Held at Fair Value . At September 30, 2021 and December 31, 2020, the fair value of the Company’s financial instruments not held at fair value are categorized in the table below: September 30, 2021 December 31, 2020 (in millions) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Fair Value Hierarchy Financial Assets (1) Cash and cash equivalents $ 7,361 $ 7,361 $ 8,664 $ 8,664 Level 1 (2) (3) Other assets $ 48 $ 48 $ 69 $ 69 Level 1 (4) Financial Liabilities: Long-term borrowings $ 6,474 $ 6,836 $ 7,264 $ 7,883 Level 2 (5) (1) See Note 5, Investments (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 September 30, 2021 and December 31, 2020, approximately $677 million and $1,249 million, 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) Other assets include restricted cash and cash collateral deposited with certain derivative counterparties. The carrying values of these assets approximate fair value due to their short-term maturities. (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 at the end of September 2021 and December 2020, respectively. See Note 14, Borrowings Investments in Certain Entities that Calculate Net Asset Value 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 in entities 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). September 30, 2021 (in millions) Ref Fair Value Total Unfunded Commitments Redemption Frequency Redemption Notice Period Equity method: (1) Hedge funds/funds of hedge funds (a) $ 359 $ 123 Daily/Monthly (21%) Quarterly (21%) N/R (58%) 1 – 90 days Private equity funds (b) 633 302 N/R N/R Real assets funds (c) 213 229 Quarterly (21%) N/R (79%) 60 days Consolidated sponsored investment products: Private equity funds of funds (d) 5 3 N/R N/R Real assets funds (c) 87 106 N/R N/R Funds of hedge funds 2 23 N/R N/R Total $ 1,299 $ 786 December 31, 2020 (in millions) Ref Fair Value Total Unfunded Commitments Redemption Frequency Redemption Notice Period Equity method: (1) Hedge funds/funds of hedge funds (a) $ 313 $ 101 Daily/Monthly (21%) Quarterly (21%) N/R (58%) 1 – 90 days Private equity funds (b) 315 372 N/R N/R Real assets funds (c) 218 205 Quarterly (31%) N/R (69%) 60 days Consolidated sponsored investment products: Private equity funds of funds (d) 19 7 N/R N/R Real assets funds (c) 75 94 N/R N/R Total $ 940 $ 779 N/R – not redeemable (1) Comprised of equity method investments, which include investment companies, which 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 and funds of hedge funds that invest primarily in equities, fixed income securities, distressed 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 September 30, 2021 and December 31, 2020. (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 as well as 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 September 30, 2021 and December 31, 2020. (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 September 30 , 20 2 1 and December 31, 20 20 . The total remaining unfunded commitments to real assets funds were $ 335 million and $ 299 million at September 30 , 20 2 1 and December 31, 20 20 , respectively. The Company ’s portion of the total remaining unfunded commitments was $ 295 million and $ 267 million at September 30 , 202 1 and December 31, 20 20 , respectively . (d) This category includes the underlying third-party private equity funds within consolidated BlackRock sponsored private equity funds of funds. The fair values of the investments in the third-party funds have been estimated using capital accounts representing the Company’s ownership interest in each fund in the portfolio as well as other performance inputs. 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 at both September 30, 2021 and December 31, 2020. The total remaining Fair Value Option . At September 30, 2021 and December 31, 2020, the Company elected the fair value option for certain investments in CLOs of approximately $54 million and $35 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 September 30, 2021 and December 31, 2020: September 30, December 31, (in millions) 2021 2020 CLO Bank loans: Aggregate principal amounts outstanding $ 280 $ 250 Fair value 282 248 Aggregate unpaid principal balance in excess of (less than) fair value $ (2 ) $ 2 CLO Borrowings: Aggregate principal amounts outstanding $ 275 $ 244 Fair value $ 278 $ 246 At September 30, 2021, the principal amounts outstanding of the borrowings issued by the CLOs mature in 2030. During the three and nine months ended September 30, 2021 and 2020, 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 nonoperating (expense) 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	9 Months Ended
	Sep. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	9. Derivatives and Hedging The Company maintains a program to enter into swaps to hedge against market price and interest rate exposures with respect to certain seed investments in sponsored investment products. At September 30, 2021 and December 31, 2020, the Company had outstanding total return swaps with aggregate notional values of approximately $801 million and $833 million, respectively. The Company executes forward foreign currency exchange contracts to mitigate the risk of certain foreign exchange movements. At September 30, 2021 and December 31, 2020, the Company had outstanding forward foreign currency exchange contracts with aggregate notional values of approximately $2.2 billion and At both September 30, 2021 and December 31, 2020, 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 September 30, 2021 and December 31, 2020: (in millions) Assets Liabilities Statement of Financial Condition September 30, December 31, Statement of Financial Condition September 30, December 31, Derivative instruments Classification 2021 2020 Classification 2021 2020 Total return swaps Other assets $ 22 $ — Other liabilities $ 1 $ 50 Forward foreign currency exchange contracts Other assets 1 13 Other liabilities 28 5 Total $ 23 $ 13 $ 29 $ 55 The following table presents realized and unrealized gains (losses) recognized in the condensed consolidated statements of income on derivative instruments: Three Months Ended Nine Months Ended September 30, September 30, (in millions) Statement of Income 2021 2020 2021 2020 Derivative Instruments Classification Gains (Losses) Gains (Losses) Total return swaps Nonoperating income (expense) $ 14 $ (42 ) $ (70 ) $ 9 Forward foreign currency exchange contracts General and administration expense (46 ) 64 (36 ) (34 ) Total gain (loss) from derivative instruments $ (32 ) $ 22 $ (106 ) $ (25 ) The Company consolidates certain sponsored investment funds, which may utilize derivative instruments as a part of the funds’ investment strategies. The changes in fair value of such derivatives, which are recorded in nonoperating income (expense), were not material for the three and nine months ended September 30, 2021 and 2020. See Note 15, Borrowings

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	10. Goodwill Goodwill activity during the nine months ended September 30, 2021 was as follows: (in millions) December 31, 2020 $ 14,551 Acquisitions (1) 816 Other (2) (7 ) September 30, 2021 $ 15,360 (1) Acquisitions (2)

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	11. Intangible Assets The carrying amounts of identifiable intangible assets are summarized as follows: (in millions) Indefinite-lived Finite-lived Total December 31, 2020 $ 17,578 $ 685 $ 18,263 Acquisitions (1) — 322 322 Amortization expense — (109 ) (109 ) September 30, 2021 $ 17,578 $ 898 $ 18,476 (1) In connection with the Aperio Transaction, which closed on February 1, 2021, the Company acquired $270 million of finite-lived customer relationships, $9 million of a finite-lived trade name and $8 million of finite-lived technology-related intangible assets, with weighted-average estimated lives of approximately 10 years, five years and three years, respectively. See Note 3, Acquisitions , for more information.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	12. Leases The following table presents components of lease cost included in general and administration expense on the condensed consolidated statement of income: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Lease cost: Operating lease cost (1) $ 50 $ 37 $ 128 $ 110 Variable lease cost (2) 10 10 30 29 Total lease cost $ 60 $ 47 $ 158 $ 139 (1) Amounts include short-term leases, which are immaterial for the three and nine months ended September 30, 2021 and 2020. (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: Nine Months Ended September 30, (in millions) 2021 2020 Supplemental cash flow information: Operating cash flows from operating leases included in the measurement of operating lease liabilities $ 108 $ 114 Supplemental noncash information: ROU assets in exchange for operating lease liabilities $ 1,297 $ 77 September 30, December 31, 2021 2020 Lease term and discount rate: Weighted-average remaining lease term 16 years 8 years Weighted-average discount rate 3 % 3 %

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2021
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Other Assets	13. Other Assets At September 30, 2021 and December 31, 2020, the Company had $582 million and $399 million of equity method investments, respectively, recorded within other assets on the condensed consolidated statements of financial condition. iCapital On March 10, 2020, in connection with a recapitalization of iCapital Network, Inc. (“iCapital”), BlackRock received additional stock in exchange for certain securities it held, which resulted in a nonoperating pre-tax gain of approximately $240 million in the condensed consolidated statement of income for the nine months ended September 30, 2020. Following this transaction, the Company accounts for its interest in iCapital as an equity method investment, which is included in other assets on the condensed consolidated statements of financial condition. During the three and nine months ended September 30, 2021, BlackRock recorded a nonoperating, noncash, pre-tax gain of $107 million in the condensed consolidated statements of income in connection with iCapital’s most recent third-party equity financing. At September 30, 2021 and December 31, 2020, the carrying value of the Company’s interest in iCapital was approximately $401 million and $296 million, respectively.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Borrowings	14. Borrowings Short-Term Borrowings 2021 Revolving Credit Facility. In March 2021, the Company’s credit facility was amended to increase the aggregate commitment amount to $4.4 billion and to extend the maturity date to March 2026 (the “2021 credit facility”). In addition, the amendment incorporated certain sustainability-linked pricing metrics into the agreement. Specifically, the Company’s applicable interest rate and commitment fee are subject to upward or downward adjustments on an annual basis if the Company achieves, or fails to achieve, certain specified targets. Interest on borrowings outstanding accrues at a rate based on the applicable London Interbank Offered Rate, or an applicable replacement benchmark, plus a spread. The 2021 credit facility permits the Company to request up to an additional $1.0 billion of borrowing capacity, subject to lender credit approval, increasing the overall size of the 2021 credit facility to an aggregate principal amount not to exceed $5.4 billion. The 2021 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 September 30, 2021. The 2021 credit facility provides back-up liquidity to fund ongoing working capital for general corporate purposes and various investment opportunities. At September 30, 2021, the Company had no amount outstanding under the 2021 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 2021 credit facility. At September 30, 2021, BlackRock had no CP Notes outstanding. Long-Term Borrowings The carrying value and fair value of long-term borrowings determined using market prices and EUR/USD foreign exchange rate at September 30, 2021 included the following: (in millions) Maturity Amount Unamortized Discount and Debt Issuance Costs Carrying Value Fair Value 3.375% Notes due 2022 $ 750 $ — $ 750 $ 766 3.50% Notes due 2024 1,000 (2 ) 998 1,071 1.25% Notes due 2025 811 (3 ) 808 851 3.20% Notes due 2027 700 (4 ) 696 767 3.25% Notes due 2029 1,000 (11 ) 989 1,097 2.40% Notes due 2030 1,000 (6 ) 994 1,034 1.90% Notes due 2031 1,250 (11 ) 1,239 1,250 Total Long-term Borrowings $ 6,511 $ (37 ) $ 6,474 $ 6,836 In May 2021, the Company fully repaid $750 million of 4.25% notes at maturity. Long-term borrowings at December 31, 2020 had a carrying value of $7.3 billion and a fair value of $7.9 billion, determined using market prices at the end of December 31, 2020. See Note 15, Borrowings

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Investment Commitments. At September 30, 2021, the Company had $905 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 Contingent Payments Related to Business Acquisitions . In connection with certain acquisitions, BlackRock is required to make contingent payments, subject to achieving specified performance targets, which may include revenue from acquired contracts. The fair value of the remaining aggregate contingent payments at September 30, 2021 totaled $62 million and is included in other liabilities on the condensed consolidated statements of financial condition. Other Contingent Payments. The Company acts as the portfolio manager in a series of derivative transactions and has a maximum potential exposure of $17 million between the Company and counterparty. See Note 9, , for further discussion. 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. 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. On April 5, 2017, BlackRock, Inc., BlackRock Institutional Trust Company, N.A. (“BTC”), the BlackRock, Inc. Retirement Committee and various sub-committees, and a BlackRock employee were named as defendants in a purported class action lawsuit brought in the US District Court for the Northern District of California by a former employee on behalf of all participants and beneficiaries in the BlackRock employee 401(k) Plan (the “Plan”) from April 5, 2011 to the present. The lawsuit generally alleges that the defendants breached their duties towards Plan participants in violation of the Employee Retirement Income Security Act of 1974 by, among other things, offering investment options that were overly expensive, underperformed unaffiliated peer funds, focused disproportionately on active versus passive strategies, and were unduly concentrated in investment options managed by BlackRock. On October 18, 2017, the plaintiffs filed an Amended Complaint, which, among other things, added as defendants certain current and former members of the BlackRock Retirement and Investment Committees. The Amended Complaint also included a new purported class claim on behalf of investors in certain CTFs managed by BTC. Specifically, the plaintiffs allege that BTC, as fiduciary to the CTFs, engaged in self-dealing by, most significantly, selecting itself as the securities lending agent on terms that the plaintiffs claim were excessive. The Amended Complaint also alleged that BlackRock took undue risks in its management of securities lending cash reinvestment vehicles during the financial crisis. On August 23, 2018, the court granted permission to the plaintiffs to file a Second Amended Complaint (“SAC”) which added as defendants the BlackRock, Inc. Management Development and Compensation Committee, the Plan’s independent investment consultant and the Plan’s Administrative Committee and its members. On October 22, 2018, BlackRock filed a motion to dismiss the SAC, and on June 3, 2019, the plaintiffs filed a motion seeking to certify both the Plan and the CTF classes. On September 3, 2019, the court granted BlackRock’s motion to dismiss part of the plaintiffs’ claim seeking to recover alleged losses in the securities lending vehicles but denied the motion to dismiss in all other respects. On February 11, 2020, the court denied the plaintiffs’ motion to certify the CTF class and granted their motion to certify the Plan class. On April 27, 2020, the Ninth Circuit denied the plaintiffs’ request to immediately appeal the class certification ruling. On September 24, 2020, the parties cross-moved for summary judgment, both of which were denied on January 12, 2021. On February 5, 2021, the parties reached a settlement in principle for $9.65 million to resolve the remaining claims in the lawsuit, and this settlement was presented to the court for approval on March 23, 2021. There were no class member objections to the settlement following notice, and the court granted final approval of the settlement on November 3, 2021. We expect a final judgment to be entered in the district court, and barring the filing of any appeals within the appeal period, the resolution of the case will be final. 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 September 30, 2021 and subject to this type of indemnification was $279 billion. In the Company’s capacity as lending agent, cash and securities totaling $299 billion were held as collateral for indemnified securities on loan at September 30, 2021. The fair value of these indemnifications was not material at September 30, 2021.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
Revenue From Contract With Customer [Abstract]
Revenue	16. Revenue The table below presents detail of revenue for the three and nine months ended September 30, 2021 and 2020 and includes the product mix of investment advisory, administration fees and securities lending revenue, and performance fees. Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Investment advisory, administration fees and securities lending revenue: Equity: Active $ 674 $ 457 $ 1,891 $ 1,236 ETFs 1,212 880 3,436 2,551 Non-ETF Index 207 164 581 505 Equity subtotal 2,093 1,501 5,908 4,292 Fixed income: Active 561 498 1,631 1,443 ETFs 304 297 893 817 Non-ETF Index 121 113 350 354 Fixed income subtotal 986 908 2,874 2,614 Multi-asset 369 289 1,041 852 Alternatives: Illiquid alternatives 166 140 501 416 Liquid alternatives 163 132 460 361 Currency and commodities (1) 55 51 163 118 Alternatives subtotal 384 323 1,124 895 Long-term 3,832 3,021 10,947 8,653 Cash management 111 204 345 593 Total investment advisory, administration fees and securities lending revenue 3,943 3,225 11,292 9,246 Investment advisory performance fees: Equity 8 4 70 29 Fixed income 2 9 31 13 Multi-asset — 10 17 13 Alternatives: Illiquid alternatives 50 6 147 55 Liquid alternatives 285 503 549 575 Alternatives subtotal 335 509 696 630 Total performance fees 345 532 814 685 Technology services revenue 320 282 942 834 Distribution fees: Retrocessions 294 188 796 519 12b-1 fees (US mutual fund distribution fees) 91 85 263 254 Other 16 15 51 44 Total distribution fees 401 288 1,110 817 Advisory and other revenue: Advisory 13 14 37 48 Other 28 28 73 97 Total advisory and other revenue 41 42 110 145 Total revenue $ 5,050 $ 4,369 $ 14,268 $ 11,727 _____________________________________________________________ (1) The tables below present the investment advisory, administration fees and securities lending revenue by client type and investment style: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 By client type: Retail $ 1,291 $ 938 $ 3,647 $ 2,635 ETFs 1,571 1,228 4,493 3,487 Institutional: Active 684 594 1,991 1,714 Index 286 261 816 817 Total institutional 970 855 2,807 2,531 Long-term 3,832 3,021 10,947 8,653 Cash management 111 204 345 593 Total $ 3,943 $ 3,225 $ 11,292 $ 9,246 By investment style: Active $ 1,928 $ 1,511 $ 5,509 $ 4,292 Index and ETFs 1,904 1,510 5,438 4,361 Long-term 3,832 3,021 10,947 8,653 Cash management 111 204 345 593 Total $ 3,943 $ 3,225 $ 11,292 $ 9,246 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 September 30, 2021 and 2020: September 30, 2021 Remainder of (in millions) 2021 2022 2023 2024 Thereafter Total Investment advisory and administration fees: Alternatives (1)(2) $ 45 $ 157 $ 143 $ 85 $ 51 $ 481 September 30, 2020 Remainder of (in millions) 2020 2021 2022 2023 Thereafter Total Investment advisory and administration fees: Alternatives (1)(2) $ 33 $ 125 $ 108 $ 92 $ 61 $ 419 (1) Investment advisory and administration fees include management fees related to certain alternative products, which are based on contractual committed capital outstanding at September 30, 2021 and 2020. 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 (1) performance obligations with an original duration of one year or less, and (2) 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 and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Beginning balance $ 1,132 $ 418 $ 584 $ 483 Net increase (decrease) in unrealized allocations 277 29 904 4 Performance fee revenue recognized (43 ) — (122 ) (40 ) Ending balance $ 1,366 $ 447 $ 1,366 $ 447 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 September 30, 2021 and 2020: September 30, 2021 Remainder of (in millions) 2021 2022 2023 2024 Thereafter Total Technology services revenue (1)(2) $ 38 $ 83 $ 43 $ 22 $ 18 $ 204 September 30, 2020 Remainder of (in millions) 2020 2021 2022 2023 Thereafter Total Technology services revenue (1)(2) $ 37 $ 95 $ 47 $ 22 $ 18 $ 219 (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 (1) performance obligations with an original duration of one year or less, and (2) 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 September 30, 2021, the estimated fixed minimum fees for the remainder of the year approximated $193 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 and nine months ended September 30, 2021 and 2020, which is included in other liabilities on the condensed consolidated statements of financial condition: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Beginning balance $ 107 $ 108 $ 123 $ 116 Additions (1) 28 30 72 88 Revenue recognized that was included in the beginning balance (31 ) (33 ) (91 ) (99 ) Ending balance $ 104 $ 105 $ 104 $ 105 (1) Amounts are net of revenue recognized.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	17. Stock-Based Compensation Restricted Stock and RSUs. Restricted stock and restricted stock units (“RSUs”) activity for the nine months ended September 30, 2021 is summarized below. Outstanding at Restricted Stock and RSUs Weighted- Average Grant Date Fair Value December 31, 2020 2,139,930 $ 489.81 Granted 875,480 $ 747.49 Converted (745,474 ) $ 506.78 Forfeited (54,874 ) $ 571.05 September 30, 2021 2,215,062 $ 583.93 In January 2021, the Company granted 470,253 RSUs or shares of restricted stock to employees as part of 2020 annual incentive compensation that vest ratably over three years from the date of grant and 247,621 RSUs or shares of restricted stock to employees that cliff vest 100% on January 31, 2024. The Company values restricted stock and RSUs at their grant-date fair value as measured by BlackRock’s common stock price. The total fair market value of RSUs/restricted stock granted to employees during the nine months ended September 30, 2021 was $654 million. At September 30, 2021, the intrinsic value of outstanding RSUs was $1.9 billion, reflecting a closing stock price of $838.66. At September 30, 2021, total unrecognized stock-based compensation expense related to unvested RSUs was $607 million. The unrecognized compensation cost is expected to be recognized over the remaining weighted-average period of 1.2 years. Performance-Based RSUs. Performance-based RSU activity for the nine months ended September 30, 2021 is summarized below. Outstanding at Performance- Based RSUs Weighted- Average Grant Date Fair Value December 31, 2020 700,217 $ 494.51 Granted 162,029 $ 739.22 Additional shares granted due to attainment of performance measures 4,545 $ 566.44 Converted (193,872 ) $ 566.44 Forfeited (1,584 ) $ 410.32 September 30, 2021 671,335 $ 533.48 In January 2021, the Company granted 162,029 performance-based RSUs to certain employees that cliff vest 100% on January 31, 2024. 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 2021, the Company granted 4,545 additional RSUs to certain employees based on the attainment of Company performance measures during the performance period. The Company initially 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 to employees during the nine months ended September 30, 2021 was $122 million. At September 30, 2021, the intrinsic value of outstanding performance-based RSUs was $563 million, reflecting a closing stock price of $838.66. At September 30, 2021, total unrecognized stock-based compensation expense related to unvested performance-based awards was $190 million. The unrecognized compensation cost is expected to be recognized over the remaining weighted-average period of 1.2 years. See Note 18, Stock-Based Compensation, Performance-based Stock Options. Stock option activity for the nine months ended September 30, 2021 is summarized below. Outstanding at Shares Under Option Weighted Average Exercise Price December 31, 2020 1,915,792 $ 513.50 Forfeited (28,742 ) $ 513.50 September 30, 2021 1,887,050 $ 513.50 Vesting of the performance-based stock options is 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 At September 30, 2021, total unrecognized stock-based compensation expense related to unvested performance-based stock options was $55 million. The unrecognized compensation cost is expected to be recognized over the remaining weighted-average period of 2.2 years. At September 30, 2021, the weighted-average remaining life of the awards is approximately 5.2 years. See Note 18, Stock-Based Compensation,

Net Capital Requirements

Net Capital Requirements	9 Months Ended
	Sep. 30, 2021
Regulatory Capital Requirements [Abstract]
Net Capital Requirements	18. 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 September 30, 2021, the Company was required to maintain approximately $2.4 billion in net capital in certain regulated subsidiaries, including BTC (a wholly owned subsidiary of the Company that 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)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	19. Accumulated Other Comprehensive Income (Loss) The following table presents changes in AOCI for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Beginning balance $ (388 ) $ (781 ) $ (337 ) $ (571 ) Foreign currency translation adjustments (1) (138 ) 180 (189 ) (30 ) Ending balance $ (526 ) $ (601 ) $ (526 ) $ (601 ) (1) Amounts for the three months ended September 30, 2021 and 2020 include a gain from a net investment hedge of $14 million (net of tax expense of $5 million) and a loss of $26 million (net of tax benefit of $8 million), respectively. Amounts for the nine months ended September 30, 2021 and 2020 include a gain from a net investment hedge of $34 million (net of tax expense of $11 million) and a loss of $27 million (net of tax benefit of $8 million), respectively.

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Capital Stock	20. Capital Stock Share Repurchases . During the nine months ended September 30, 2021, the Company repurchased 1.1 million common shares under the Company’s existing share repurchase program for approximately $900 million. At September 30, 2021, there were 3.9 million shares still authorized to be repurchased under the program.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	21. Income Taxes Income tax expense for the nine months ended September 30, 2021 included $171 million noncash net expense related to the revaluation of certain deferred tax assets and liabilities as a result of legislation enacted in the UK increasing its corporate tax rate. Income tax expense for the nine months ended September 30, 2021, also reflected $42 million of discrete tax benefits primarily related to stock-based compensation awards that vested in the first quarter of 2021. Income tax expense for the nine months ended September 30, 2020, included a discrete tax benefit of $241 million recognized in connection with the previously reported charitable contribution of BlackRock’s remaining 20% stake in PennyMac Financial Services, Inc. (the “Charitable Contribution”) and $78 million of discrete tax benefits, including benefits related to stock-based compensation awards that vested in the first quarter of 2020. The three and nine months ended September 30, 2020 income tax expense also included the previously disclosed $54 million noncash net expense related to legislation enacted in the United Kingdom.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
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 and nine months ended September 30, 2021 and 2020 under the treasury stock method: Three Months Ended Nine Months Ended September 30, September 30, (in millions, except shares and per share data) 2021 2020 2021 2020 Net income attributable to BlackRock, Inc. $ 1,681 $ 1,364 $ 4,258 $ 3,384 Basic weighted-average shares outstanding 152,120,927 152,488,073 152,375,504 153,816,544 Dilutive effect of: Nonparticipating RSUs 1,474,725 1,254,191 1,354,405 1,143,268 Stock options 747,625 — 622,681 — Total diluted weighted-average shares outstanding 154,343,277 153,742,264 154,352,590 154,959,812 Basic earnings per share $ 11.05 $ 8.94 $ 27.94 $ 22.00 Diluted earnings per share $ 10.89 $ 8.87 $ 27.59 $ 21.84 The amount of anti-dilutive RSUs was immaterial for the three and nine months ended September 30, 2021 and 2020. Certain performance-based RSUs were excluded from the diluted EPS calculation because the designated contingency was not met for the three and nine months ended September 30, 2021 and 2020, respectively. In addition, performance-based stock options were excluded from the diluted EPS calculation for the three and nine months ended September 30, 2020 because the designated contingency was not met.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
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 and nine months ended September 30, 2021 and 2020 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 Nine Months Ended (in millions) September 30, September 30, Revenue 2021 2020 2021 2020 Americas $ 3,127 $ 2,631 $ 9,095 $ 7,581 Europe 1,706 1,574 4,533 3,661 Asia-Pacific 217 164 640 485 Total revenue $ 5,050 $ 4,369 $ 14,268 $ 11,727 See Note 16, Revenue The following table illustrates long-lived assets that consist of goodwill and property and equipment at September 30, 2021 and December 31, 2020 by geographic region. These amounts are aggregated on a legal entity basis and do not necessarily reflect where the asset is physically located. (in millions) September 30, December 31, Long-lived Assets 2021 2020 Americas $ 14,623 $ 13,784 Europe 1,344 1,360 Asia-Pacific 96 88 Total long-lived assets $ 16,063 $ 15,232 Americas is primarily comprised of the United States, Latin America and Canada, while Europe is primarily comprised of the UK, the Netherlands, France and Luxembourg. Asia-Pacific is primarily comprised of Hong Kong, Australia, Japan and Singapore.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	24. Subsequent Events The Company conducted a review for 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)	9 Months Ended
	Sep. 30, 2021
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 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 notes related thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the Securities and Exchange Commission on February 25, 2021 (“2020 Form 10-K”). The interim financial information at September 30, 2021 and for the three and nine months ended September 30, 2021 and 2020 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 and disclosures, while not required to be recast, were reclassified to ensure comparability with current period classifications.
Consolidated Affiliate	Consolidated Affiliate . During the second quarter of 2021, the Company formed a majority-controlled asset management company in China - BlackRock CCB Wealth Management Company Ltd. (“WMC”). WMC is 50.1% owned by the Company. The Company consolidates WMC, which it deems to be a voting rights entity (“VRE”), because it can exert control over the financial and operating policies of the entity, based on the Company’s 50.1% ownership and voting rights.
Noncontrolling Interests	Noncontrolling Interests. NCI consist of third-party investments in the Company’s sponsored investment products and minority interests in WMC. The Company reports NCI as equity, separate from the parent’s equity, on the condensed consolidated statements of financial condition. NCI that are redeemable at the option of the holders are classified as temporary equity and nonredeemable NCI are classified as a component of permanent equity in the condensed consolidated statements of financial condition. In addition, the Company reports net income (loss) attributable to redeemable and nonredeemable NCI holders in net income (loss) attributable to NCI in the condensed consolidated statements of income. Noncontrolling Interests – CIPs. NCI of CIPs represent third-party investments in the Company’s sponsored investment products. Noncontrolling Interests – Consolidated Affiliate. NCI of consolidated affiliate represent minority interests held in WMC, a consolidated affiliate. NCI of a consolidated affiliate that are classified as nonredeemable are included as a component of permanent equity in the condensed consolidated statements of financial condition. NCI of a consolidated affiliate that are classified as redeemable are included in temporary equity at estimated redemption value in the condensed consolidated statements of financial condition.
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 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, investments in collateralized loan obligations (“CLOs”), bank loans, short-term floating-rate notes, asset-backed securities, securities held within consolidated hedge funds, restricted public securities valued at a discount, as well as over-the-counter derivatives, including interest and inflation 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 held within consolidated funds, investments in CLOs and bank loans held within consolidated CLOs. • 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. 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, investments in CLOs and bank loans is 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 Values. 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 generally 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 bank 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 exposures for certain seed investments. However, certain consolidated sponsored investment funds may also utilize derivatives as a part of their investment strategy. 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 assets or liabilities or hedged investments, 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 whose functional currency is not 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. Amounts excluded from the effectiveness assessment are reported in the condensed consolidated statements of income using a systematic and rational method. 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 receives legal title to the collateral with minimum values generally ranging from approximately 102% to 112% of the value of the securities lent 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. The Company records on the condensed consolidated statements of financial condition the cash and noncash collateral received under these BlackRock Life Limited securities lending arrangements as its own asset in addition to an equal and offsetting collateral liability for the obligation to return the collateral. 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. During the nine months ended September 30, 2021 and 2020, the Company had not resold or repledged any of the collateral received under these arrangements. At September 30, 2021 and December 31, 2020, the fair value of loaned securities held by separate accounts was approximately $13 billion and $15.2 billion, respectively, and the fair value of the collateral held under these securities lending agreements was approximately $14.1 billion and $16.5 billion, respectively.
Money Market Fee Waivers	Money Market Fee Waivers. The Company may voluntarily waive a portion of its management fees on certain money market funds to ensure that they maintain a targeted level of daily net investment income (the “Yield Support waivers”). During the three and nine months ended September 30, 2021, these waivers resulted in a reduction of management fees of approximately $130 million and $360 million, respectively, which was partially offset by a reduction of BlackRock’s distribution and servicing costs paid to financial intermediaries. There were no Yield Support waivers for the three and nine months ended September 30, 2020. The Company may increase or decrease the level of Yield Support waivers in future periods.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Summary of Fair Values of Assets Acquired and Liabilities Assumed	A summary of the fair values of the assets acquired and liabilities assumed in this acquisition is as follows (1) Estimate of (in millions) Fair Value Accounts receivable $ 16 Finite-lived intangible assets: Customer relationships (2) 270 Other 17 Goodwill 787 Deferred income tax liabilities (16 ) Other liabilities assumed (12 ) Total consideration, net of cash acquired $ 1,062 Summary of consideration, net of cash acquired: Cash paid $ 1,066 Cash acquired (4 ) Total consideration, net of cash acquired $ 1,062 (1) At this time, the Company does not expect material changes to the value of the assets acquired or liabilities assumed in conjunction with the transaction. (2) The fair value was determined based on the excess earnings method (a Level 3 input), has a weighted-average estimated useful life of approximately 10 years and is amortized using the accelerated amortization method.
Summary of Finite Lived Intangible Assets Weighted Average Remaining Useful Life of Remaining amortization Expense	The finite-lived intangible assets had a weighted-average remaining useful life of approximately nine years with remaining amortization expense as follows: (in millions) Year Amount 2021 (excluding the nine months ended September 30, 2021) $ 10 2022 40 2023 38 2024 32 2025 29 Thereafter 111 Total $ 260

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	9 Months Ended
	Sep. 30, 2021
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. September 30, December 31, 2021 2020 (in millions) Cash and cash equivalents $ 7,361 $ 8,664 Restricted cash included in other assets 17 17 Total cash, cash equivalents and restricted cash $ 7,378 $ 8,681

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2021
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: September 30, December 31, (in millions) 2021 2020 Debt securities: Held-to-maturity investments $ 386 $ 310 Trading securities 1,480 1,964 Total debt securities 1,866 2,274 Equity securities at FVTNI (1) 1,591 2,317 Equity method investments (2) 1,544 1,081 Bank loans 282 248 Federal Reserve Bank stock (3) 95 94 Carried interest (4) 1,446 627 Other investments (5) 277 278 Total investments $ 7,101 $ 6,919 ( 1 ) Fair value recorded through net income (“FVTNI”). ( 2 ) Equity method investments primarily include BlackRock’s direct investments in certain BlackRock sponsored investment funds. ( 3 ) At both September 30, 2021 and December 31, 2020, there were no indicators of impairment of Federal Reserve Bank stock, which 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 and private equity and real asset investments of CIPs 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: September 30, 2021 December 31, 2020 (in millions) Cost Carrying Value Cost Carrying Value Trading debt securities: Corporate debt $ 961 $ 970 $ 1,591 $ 1,641 Government debt 403 403 203 210 Asset/mortgage-backed debt 120 107 132 113 Total trading debt securities $ 1,484 $ 1,480 $ 1,926 $ 1,964 Equity securities at FVTNI: Equity securities/mutual funds $ 1,311 $ 1,591 $ 2,055 $ 2,317 Total equity securities at FVTNI $ 1,311 $ 1,591 $ 2,055 $ 2,317

Consolidated Sponsored Invest_2

Consolidated Sponsored Investment Products (Tables)	9 Months Ended
	Sep. 30, 2021
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: September 30, 2021 December 31, 2020 (in millions) VIEs VREs Total VIEs VREs Total Cash and cash equivalents $ 204 $ 61 $ 265 $ 155 $ 51 $ 206 Investments: Trading debt securities 1,258 167 1,425 1,618 310 1,928 Equity securities at FVTNI 946 308 1,254 1,592 413 2,005 Bank loans 282 — 282 248 — 248 Other investments 207 — 207 191 — 191 Carried interest 1,406 — 1,406 604 — 604 Total investments 4,099 475 4,574 4,253 723 4,976 Other assets 83 10 93 90 9 99 Other liabilities (1) (1,799 ) (39 ) (1,838 ) (952 ) (70 ) (1,022 ) Noncontrolling interests - CIPs (1,416 ) (59 ) (1,475 ) (2,193 ) (180 ) (2,373 ) BlackRock's net interests in CIPs $ 1,171 $ 448 $ 1,619 $ 1,353 $ 533 $ 1,886 (1) At both September 30, 2021 and December 31, 2020, 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 Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Nonoperating net gain (loss) on consolidated VIEs $ 50 $ 213 $ 323 $ 186 Net income (loss) attributable to NCI on consolidated VIEs $ 73 $ 149 $ 296 $ 169

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2021
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Schedule of VIE Assets and Liabilities	At September 30, 2021 and December 31, 2020, 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: (in millions) Advisory Fee Other Net Assets Maximum At September 30, 2021 Investments Receivables (Liabilities) Risk (1) Sponsored investment products $ 865 $ 71 $ (12 ) $ 953 At December Sponsored investment products $ 662 $ 71 $ (13 ) $ 750 (1) At both September 30, 2021 and December 31, 2020, 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)	9 Months Ended
	Sep. 30, 2021
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 September 30, 2021 (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments Measured at NAV (1) Other (2) September 30, 2021 Assets: Investments Debt securities: Held-to-maturity investments $ — $ — $ — $ — $ 386 $ 386 Trading securities — 1,450 30 — — 1,480 Total debt securities — 1,450 30 — 386 1,866 Equity securities at FVTNI: Equity securities/mutual funds 1,591 — — — — 1,591 Equity method: Equity and fixed income mutual funds 339 — — — — 339 Hedge funds/funds of hedge funds — — — 359 — 359 Private equity funds — — — 633 — 633 Real assets funds — — — 213 — 213 Total equity method 339 — — 1,205 — 1,544 Bank loans — 9 273 — — 282 Federal Reserve Bank Stock — — — — 95 95 Carried interest — — — — 1,446 1,446 Other investments (3) — 4 5 94 174 277 Total investments 1,930 1,463 308 1,299 2,101 7,101 Other assets (4) 197 23 — — — 220 Separate account assets 65,704 30,146 — — 905 96,755 Separate account collateral held under securities lending agreements: Equity securities 10,551 — — — — 10,551 Debt securities — 3,555 — — — 3,555 Total separate account collateral held under securities lending agreements 10,551 3,555 — — — 14,106 Total $ 78,382 $ 35,187 $ 308 $ 1,299 $ 3,006 $ 118,182 Liabilities: Separate account collateral liabilities under securities lending agreements $ 10,551 $ 3,555 $ — $ — $ — $ 14,106 Other liabilities (5) — 41 340 — — 381 Total $ 10,551 $ 3,596 $ 340 $ — $ — $ 14,487 (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, carried interest and certain equity method investments, which include sponsored investment funds and other assets, which are not accounted for under a fair value measure. In accordance with GAAP, certain equity method investees 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. (3) Level 3 amount primarily includes direct investments in private equity companies held by consolidated private equity funds. (4) Level 1 amount includes a minority investment in a publicly traded company. Level 2 amount primarily includes derivatives (See Note 9, Derivatives and Hedging, for more information). (5) Level 2 amount primarily includes derivatives (See Note 9, Derivatives and Hedging Commitments and Contingencies Assets and liabilities measured at fair value on a recurring basis December 31, 2020 (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments Measured at NAV (1) Other (2) December 31, 2020 Assets: Investments Debt securities: Held-to-maturity investments $ — $ — $ — $ — $ 310 $ 310 Trading securities — 1,953 11 — — 1,964 Total debt securities — 1,953 11 — 310 2,274 Equity securities at FVTNI: Equity securities/mutual funds 2,317 — — — — 2,317 Equity method: Equity and fixed income mutual funds 235 — — — — 235 Hedge funds/funds of hedge funds — — — 313 — 313 Private equity funds — — — 315 — 315 Real assets funds — — — 218 — 218 Total equity method 235 — — 846 — 1,081 Bank loans — 16 232 — — 248 Federal Reserve Bank Stock — — — — 94 94 Carried interest — — — — 627 627 Other investments (3) — — 9 94 175 278 Total investments 2,552 1,969 252 940 1,206 6,919 Other assets (4) 205 13 — — — 218 Separate account assets 71,392 32,404 — — 867 104,663 Separate account collateral held under securities lending agreements: Equity securities 13,126 — — — — 13,126 Debt securities — 3,381 — — — 3,381 Total separate account collateral held under securities lending agreements 13,126 3,381 — — — 16,507 Total $ 87,275 $ 37,767 $ 252 $ 940 $ 2,073 $ 128,307 Liabilities: Separate account collateral liabilities under securities lending agreements $ 13,126 $ 3,381 $ — $ — $ — $ 16,507 Other liabilities (5) — 68 272 — — 340 Total $ 13,126 $ 3,449 $ 272 $ — $ — $ 16,847 (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, carried interest and certain equity method investments, which include sponsored investment funds and other assets, which are not accounted for under a fair value measure. In accordance with GAAP, certain equity method investees 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. (3) Level 3 amount primarily includes direct investments in private equity companies held by consolidated private equity funds. (4) Level 1 amount includes a minority investment in a publicly traded company. (5) Level 2 amount primarily includes derivatives (See Note 9, Derivatives and Hedging Commitments and Contingencies
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 September 30, 2021 (in millions) June 30, 2021 Realized and Unrealized Gains (Losses) Purchases Sales and Maturities Issuances and other Settlements (1) Transfers into Level 3 Transfers out of Level 3 September 30, 2021 Total Net Unrealized Gains (Losses) Included in Earnings (2) Assets: Investments: Debt securities: Trading $ 21 $ 2 $ 12 $ (5 ) $ — $ — $ — $ 30 $ 2 Total debt securities 21 2 12 (5 ) — — — 30 2 Private equity 5 1 — — — — (1 ) 5 1 Bank loans 261 — 16 — — 1 (5 ) 273 — Total investments $ 287 $ 3 $ 28 $ (5 ) $ — $ 1 $ (6 ) $ 308 $ 3 Liabilities: Other liabilities $ 298 $ (28 ) $ — $ — $ 14 $ — $ — $ 340 $ (28 ) Total Level 3 liabilities $ 298 $ (28 ) $ — $ — $ 14 $ — $ — $ 340 $ (28 ) (1) Amounts include proceeds from borrowings of a consolidated CLO and a contingent liability, partially offset by contingent liability payment related to a prior acquisition. (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 Nine Months Ended September 30, 2021 (in millions) December 31, 2020 Realized and Unrealized Gains (Losses) Purchases Sales and Maturities Issuances and other Settlements (1) Transfers into Level 3 Transfers out of Level 3 September 30, 2021 Total Net Unrealized Gains (Losses) Included in Earnings (2) Assets: Investments: Debt securities: Trading $ 11 $ 2 $ 24 $ (5 ) $ — $ — $ (2 ) $ 30 $ 2 Total debt securities 11 2 24 (5 ) — — (2 ) 30 2 Private equity 9 1 — — — — (5 ) 5 1 Bank loans 232 — 45 — — 11 (15 ) 273 — Total investments $ 252 $ 3 $ 69 $ (5 ) $ — $ 11 $ (22 ) $ 308 $ 3 Liabilities: Other liabilities $ 272 $ (32 ) $ — $ — $ 36 $ — $ — $ 340 $ (32 ) Total Level 3 liabilities $ 272 $ (32 ) $ — $ — $ 36 $ — $ — $ 340 $ (32 ) (1) Amounts include proceeds from borrowings of a consolidated CLO and a contingent liability, partially offset by contingent liability payments related to prior acquisitions. (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 September 30, 2020 (in millions) June 30, 2020 Realized and Unrealized Gains (Losses) Purchases Sales and Maturities Issuances and other Settlements (1) Transfers into Level 3 Transfers out of Level 3 September 30, 2020 Total Net Unrealized Gains (Losses) Included in Earnings (2) Assets: Investments: Debt securities: Trading $ 10 $ — $ 1 $ — $ — $ — $ — $ 11 $ — Total debt securities 10 — 1 — — — — 11 — Private equity 16 — — (6 ) — — — 10 — Bank loans 229 — — (9 ) — — (3 ) 217 — Total investments $ 255 $ — $ 1 $ (15 ) $ — $ — $ (3 ) $ 238 $ — Liabilities: Other liabilities $ 262 $ — $ — $ — $ (1 ) $ — $ — $ 261 $ — Total Level 3 liabilities $ 262 $ — $ — $ — $ (1 ) $ — $ — $ 261 $ — (1) Amount includes proceeds from borrowings of a consolidated CLO and contingent payments related to certain acquisitions. (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 Nine Months Ended September 30, 2020 (in millions) December 31, 2019 Realized and Unrealized Gains (Losses) Purchases Sales and Maturities Issuances and other Settlements (1) Transfers into Level 3 Transfers out of Level 3 September 30, 2020 Total Net Unrealized Gains (Losses) Included in Earnings (3) Assets: Investments: Debt securities: Trading $ 8 $ — $ 3 $ — $ — $ — $ — $ 11 $ — Total debt securities 8 — 3 — — — — 11 — Private equity 9 — 8 (7 ) — — — 10 — Bank loans 177 — 36 (9 ) — 16 (3 ) 217 — Total investments $ 194 $ — $ 47 $ (16 ) $ — $ 16 $ (3 ) $ 238 $ — Liabilities: Other liabilities $ 388 $ (23 ) $ — $ — $ (150 ) $ — $ — $ 261 $ (5 ) Total Level 3 liabilities $ 388 $ (23 ) $ — $ — $ (150 ) $ — $ — $ 261 $ (5 ) (1) Amount includes proceeds from borrowings of a consolidated CLO and contingent payments related to certain acquisitions. (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 September 30, 2021 and December 31, 2020, the fair value of the Company’s financial instruments not held at fair value are categorized in the table below: September 30, 2021 December 31, 2020 (in millions) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Fair Value Hierarchy Financial Assets (1) Cash and cash equivalents $ 7,361 $ 7,361 $ 8,664 $ 8,664 Level 1 (2) (3) Other assets $ 48 $ 48 $ 69 $ 69 Level 1 (4) Financial Liabilities: Long-term borrowings $ 6,474 $ 6,836 $ 7,264 $ 7,883 Level 2 (5) (1) See Note 5, Investments (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 September 30, 2021 and December 31, 2020, approximately $677 million and $1,249 million, 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) Other assets include restricted cash and cash collateral deposited with certain derivative counterparties. The carrying values of these assets approximate fair value due to their short-term maturities. (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 at the end of September 2021 and December 2020, respectively. See Note 14, Borrowings
Investments in Certain Entities that Calculate Net Asset Value per Share	The following tables list information regarding all investments in entities 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). September 30, 2021 (in millions) Ref Fair Value Total Unfunded Commitments Redemption Frequency Redemption Notice Period Equity method: (1) Hedge funds/funds of hedge funds (a) $ 359 $ 123 Daily/Monthly (21%) Quarterly (21%) N/R (58%) 1 – 90 days Private equity funds (b) 633 302 N/R N/R Real assets funds (c) 213 229 Quarterly (21%) N/R (79%) 60 days Consolidated sponsored investment products: Private equity funds of funds (d) 5 3 N/R N/R Real assets funds (c) 87 106 N/R N/R Funds of hedge funds 2 23 N/R N/R Total $ 1,299 $ 786 December 31, 2020 (in millions) Ref Fair Value Total Unfunded Commitments Redemption Frequency Redemption Notice Period Equity method: (1) Hedge funds/funds of hedge funds (a) $ 313 $ 101 Daily/Monthly (21%) Quarterly (21%) N/R (58%) 1 – 90 days Private equity funds (b) 315 372 N/R N/R Real assets funds (c) 218 205 Quarterly (31%) N/R (69%) 60 days Consolidated sponsored investment products: Private equity funds of funds (d) 19 7 N/R N/R Real assets funds (c) 75 94 N/R N/R Total $ 940 $ 779 N/R – not redeemable (1) Comprised of equity method investments, which include investment companies, which 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 and funds of hedge funds that invest primarily in equities, fixed income securities, distressed 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 September 30, 2021 and December 31, 2020. (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 as well as 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 September 30, 2021 and December 31, 2020. (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 September 30 , 20 2 1 and December 31, 20 20 . The total remaining unfunded commitments to real assets funds were $ 335 million and $ 299 million at September 30 , 20 2 1 and December 31, 20 20 , respectively. The Company ’s portion of the total remaining unfunded commitments was $ 295 million and $ 267 million at September 30 , 202 1 and December 31, 20 20 , respectively . (d) This category includes the underlying third-party private equity funds within consolidated BlackRock sponsored private equity funds of funds. The fair values of the investments in the third-party funds have been estimated using capital accounts representing the Company’s ownership interest in each fund in the portfolio as well as other performance inputs. 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 at both September 30, 2021 and December 31, 2020. The total remaining
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 September 30, 2021 and December 31, 2020: September 30, December 31, (in millions) 2021 2020 CLO Bank loans: Aggregate principal amounts outstanding $ 280 $ 250 Fair value 282 248 Aggregate unpaid principal balance in excess of (less than) fair value $ (2 ) $ 2 CLO Borrowings: Aggregate principal amounts outstanding $ 275 $ 244 Fair value $ 278 $ 246

Derivative and Hedging (Tables)

Derivative and Hedging (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, 2021 and December 31, 2020: (in millions) Assets Liabilities Statement of Financial Condition September 30, December 31, Statement of Financial Condition September 30, December 31, Derivative instruments Classification 2021 2020 Classification 2021 2020 Total return swaps Other assets $ 22 $ — Other liabilities $ 1 $ 50 Forward foreign currency exchange contracts Other assets 1 13 Other liabilities 28 5 Total $ 23 $ 13 $ 29 $ 55
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 Nine Months Ended September 30, September 30, (in millions) Statement of Income 2021 2020 2021 2020 Derivative Instruments Classification Gains (Losses) Gains (Losses) Total return swaps Nonoperating income (expense) $ 14 $ (42 ) $ (70 ) $ 9 Forward foreign currency exchange contracts General and administration expense (46 ) 64 (36 ) (34 ) Total gain (loss) from derivative instruments $ (32 ) $ 22 $ (106 ) $ (25 )

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill Activity	Goodwill activity during the nine months ended September 30, 2021 was as follows: (in millions) December 31, 2020 $ 14,551 Acquisitions (1) 816 Other (2) (7 ) September 30, 2021 $ 15,360 (1) Acquisitions (2)

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2020 $ 17,578 $ 685 $ 18,263 Acquisitions (1) — 322 322 Amortization expense — (109 ) (109 ) September 30, 2021 $ 17,578 $ 898 $ 18,476 (1) In connection with the Aperio Transaction, which closed on February 1, 2021, the Company acquired $270 million of finite-lived customer relationships, $9 million of a finite-lived trade name and $8 million of finite-lived technology-related intangible assets, with weighted-average estimated lives of approximately 10 years, five years and three years, respectively. See Note 3, Acquisitions , for more information.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Components of Lease Cost	The following table presents components of lease cost included in general and administration expense on the condensed consolidated statement of income: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Lease cost: Operating lease cost (1) $ 50 $ 37 $ 128 $ 110 Variable lease cost (2) 10 10 30 29 Total lease cost $ 60 $ 47 $ 158 $ 139 (1) Amounts include short-term leases, which are immaterial for the three and nine months ended September 30, 2021 and 2020. (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: Nine Months Ended September 30, (in millions) 2021 2020 Supplemental cash flow information: Operating cash flows from operating leases included in the measurement of operating lease liabilities $ 108 $ 114 Supplemental noncash information: ROU assets in exchange for operating lease liabilities $ 1,297 $ 77 September 30, December 31, 2021 2020 Lease term and discount rate: Weighted-average remaining lease term 16 years 8 years Weighted-average discount rate 3 % 3 %

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, 2021 included the following: (in millions) Maturity Amount Unamortized Discount and Debt Issuance Costs Carrying Value Fair Value 3.375% Notes due 2022 $ 750 $ — $ 750 $ 766 3.50% Notes due 2024 1,000 (2 ) 998 1,071 1.25% Notes due 2025 811 (3 ) 808 851 3.20% Notes due 2027 700 (4 ) 696 767 3.25% Notes due 2029 1,000 (11 ) 989 1,097 2.40% Notes due 2030 1,000 (6 ) 994 1,034 1.90% Notes due 2031 1,250 (11 ) 1,239 1,250 Total Long-term Borrowings $ 6,511 $ (37 ) $ 6,474 $ 6,836

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
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 and nine months ended September 30, 2021 and 2020 and includes the product mix of investment advisory, administration fees and securities lending revenue, and performance fees. Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Investment advisory, administration fees and securities lending revenue: Equity: Active $ 674 $ 457 $ 1,891 $ 1,236 ETFs 1,212 880 3,436 2,551 Non-ETF Index 207 164 581 505 Equity subtotal 2,093 1,501 5,908 4,292 Fixed income: Active 561 498 1,631 1,443 ETFs 304 297 893 817 Non-ETF Index 121 113 350 354 Fixed income subtotal 986 908 2,874 2,614 Multi-asset 369 289 1,041 852 Alternatives: Illiquid alternatives 166 140 501 416 Liquid alternatives 163 132 460 361 Currency and commodities (1) 55 51 163 118 Alternatives subtotal 384 323 1,124 895 Long-term 3,832 3,021 10,947 8,653 Cash management 111 204 345 593 Total investment advisory, administration fees and securities lending revenue 3,943 3,225 11,292 9,246 Investment advisory performance fees: Equity 8 4 70 29 Fixed income 2 9 31 13 Multi-asset — 10 17 13 Alternatives: Illiquid alternatives 50 6 147 55 Liquid alternatives 285 503 549 575 Alternatives subtotal 335 509 696 630 Total performance fees 345 532 814 685 Technology services revenue 320 282 942 834 Distribution fees: Retrocessions 294 188 796 519 12b-1 fees (US mutual fund distribution fees) 91 85 263 254 Other 16 15 51 44 Total distribution fees 401 288 1,110 817 Advisory and other revenue: Advisory 13 14 37 48 Other 28 28 73 97 Total advisory and other revenue 41 42 110 145 Total revenue $ 5,050 $ 4,369 $ 14,268 $ 11,727 _____________________________________________________________ (1) The tables below present the investment advisory, administration fees and securities lending revenue by client type and investment style: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 By client type: Retail $ 1,291 $ 938 $ 3,647 $ 2,635 ETFs 1,571 1,228 4,493 3,487 Institutional: Active 684 594 1,991 1,714 Index 286 261 816 817 Total institutional 970 855 2,807 2,531 Long-term 3,832 3,021 10,947 8,653 Cash management 111 204 345 593 Total $ 3,943 $ 3,225 $ 11,292 $ 9,246 By investment style: Active $ 1,928 $ 1,511 $ 5,509 $ 4,292 Index and ETFs 1,904 1,510 5,438 4,361 Long-term 3,832 3,021 10,947 8,653 Cash management 111 204 345 593 Total $ 3,943 $ 3,225 $ 11,292 $ 9,246
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 September 30, 2021 and 2020: September 30, 2021 Remainder of (in millions) 2021 2022 2023 2024 Thereafter Total Investment advisory and administration fees: Alternatives (1)(2) $ 45 $ 157 $ 143 $ 85 $ 51 $ 481 September 30, 2020 Remainder of (in millions) 2020 2021 2022 2023 Thereafter Total Investment advisory and administration fees: Alternatives (1)(2) $ 33 $ 125 $ 108 $ 92 $ 61 $ 419 (1) Investment advisory and administration fees include management fees related to certain alternative products, which are based on contractual committed capital outstanding at September 30, 2021 and 2020. 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 (1) performance obligations with an original duration of one year or less, and (2) 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 and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Beginning balance $ 1,132 $ 418 $ 584 $ 483 Net increase (decrease) in unrealized allocations 277 29 904 4 Performance fee revenue recognized (43 ) — (122 ) (40 ) Ending balance $ 1,366 $ 447 $ 1,366 $ 447
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 September 30, 2021 and 2020: September 30, 2021 Remainder of (in millions) 2021 2022 2023 2024 Thereafter Total Technology services revenue (1)(2) $ 38 $ 83 $ 43 $ 22 $ 18 $ 204 September 30, 2020 Remainder of (in millions) 2020 2021 2022 2023 Thereafter Total Technology services revenue (1)(2) $ 37 $ 95 $ 47 $ 22 $ 18 $ 219 (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 (1) performance obligations with an original duration of one year or less, and (2) 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 and nine months ended September 30, 2021 and 2020, which is included in other liabilities on the condensed consolidated statements of financial condition: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Beginning balance $ 107 $ 108 $ 123 $ 116 Additions (1) 28 30 72 88 Revenue recognized that was included in the beginning balance (31 ) (33 ) (91 ) (99 ) Ending balance $ 104 $ 105 $ 104 $ 105 (1) Amounts are net of revenue recognized.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Restricted Stock and RSU Activity	Restricted stock and restricted stock units (“RSUs”) activity for the nine months ended September 30, 2021 is summarized below. Outstanding at Restricted Stock and RSUs Weighted- Average Grant Date Fair Value December 31, 2020 2,139,930 $ 489.81 Granted 875,480 $ 747.49 Converted (745,474 ) $ 506.78 Forfeited (54,874 ) $ 571.05 September 30, 2021 2,215,062 $ 583.93
Performance-Based RSUs [Member]
Restricted Stock and RSU Activity	Performance-based RSU activity for the nine months ended September 30, 2021 is summarized below. Outstanding at Performance- Based RSUs Weighted- Average Grant Date Fair Value December 31, 2020 700,217 $ 494.51 Granted 162,029 $ 739.22 Additional shares granted due to attainment of performance measures 4,545 $ 566.44 Converted (193,872 ) $ 566.44 Forfeited (1,584 ) $ 410.32 September 30, 2021 671,335 $ 533.48
Performance-Based Stock Options [Member]
Stock Option Activity	Stock option activity for the nine months ended September 30, 2021 is summarized below. Outstanding at Shares Under Option Weighted Average Exercise Price December 31, 2020 1,915,792 $ 513.50 Forfeited (28,742 ) $ 513.50 September 30, 2021 1,887,050 $ 513.50

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Changes in AOCI	The following table presents changes in AOCI for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Beginning balance $ (388 ) $ (781 ) $ (337 ) $ (571 ) Foreign currency translation adjustments (1) (138 ) 180 (189 ) (30 ) Ending balance $ (526 ) $ (601 ) $ (526 ) $ (601 ) (1) Amounts for the three months ended September 30, 2021 and 2020 include a gain from a net investment hedge of $14 million (net of tax expense of $5 million) and a loss of $26 million (net of tax benefit of $8 million), respectively. Amounts for the nine months ended September 30, 2021 and 2020 include a gain from a net investment hedge of $34 million (net of tax expense of $11 million) and a loss of $27 million (net of tax benefit of $8 million), respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
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 and nine months ended September 30, 2021 and 2020 under the treasury stock method: Three Months Ended Nine Months Ended September 30, September 30, (in millions, except shares and per share data) 2021 2020 2021 2020 Net income attributable to BlackRock, Inc. $ 1,681 $ 1,364 $ 4,258 $ 3,384 Basic weighted-average shares outstanding 152,120,927 152,488,073 152,375,504 153,816,544 Dilutive effect of: Nonparticipating RSUs 1,474,725 1,254,191 1,354,405 1,143,268 Stock options 747,625 — 622,681 — Total diluted weighted-average shares outstanding 154,343,277 153,742,264 154,352,590 154,959,812 Basic earnings per share $ 11.05 $ 8.94 $ 27.94 $ 22.00 Diluted earnings per share $ 10.89 $ 8.87 $ 27.59 $ 21.84

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Total Revenue by Geographic Region	The following table illustrates total revenue for the three and nine months ended September 30, 2021 and 2020 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 Nine Months Ended (in millions) September 30, September 30, Revenue 2021 2020 2021 2020 Americas $ 3,127 $ 2,631 $ 9,095 $ 7,581 Europe 1,706 1,574 4,533 3,661 Asia-Pacific 217 164 640 485 Total revenue $ 5,050 $ 4,369 $ 14,268 $ 11,727
Schedule of Long-Lived Assets by Geographic Region	The following table illustrates long-lived assets that consist of goodwill and property and equipment at September 30, 2021 and December 31, 2020 by geographic region. These amounts are aggregated on a legal entity basis and do not necessarily reflect where the asset is physically located. (in millions) September 30, December 31, Long-lived Assets 2021 2020 Americas $ 14,623 $ 13,784 Europe 1,344 1,360 Asia-Pacific 96 88 Total long-lived assets $ 16,063 $ 15,232

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Significant Accounting Policies [Line Items]
Ownership percentage			50.10%
Fair value of loaned securities	$ 13,000	$ 13,000		$ 15,200
Fair value of collateral held for loan securities	14,100	14,100		$ 16,500
Fair value of securities received as collateral have been resold or repledged	0	0			$ 0
Reduction of management fees	$ 130	$ 360
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	102.00%	102.00%
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	112.00%	112.00%

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($)	Feb. 01, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Payments to acquire business				$ 1,097,000,000
Amortization of intangible assets		$ 38,000,000	$ 27,000,000	109,000,000	$ 79,000,000
Business acquisition of revenue		5,050,000,000	$ 4,369,000,000	14,268,000,000	$ 11,727,000,000
Aperio [Member]
Business Acquisition [Line Items]
Business acquisition, percentage of equity interest acquired	100.00%
Payments to acquire business	$ 1,062,000,000
Business Acquisition goodwill expected tax deductible amount	$ 600,000,000
Amortization of intangible assets		10,000,000		$ 27,000,000
Weighted average estimated useful life				9 years
Business acquisition of revenue		22,000,000		$ 56,000,000
Business acquisitions of net income attributable		$ 0		$ 0
Aperio [Member] | Minimum [Member]
Business Acquisition [Line Items]
Finite lived intangible assets estimated useful lives				3 years
Aperio [Member] | Maximum [Member]
Business Acquisition [Line Items]
Finite lived intangible assets estimated useful lives				10 years

Acquisitions - Summary of Fair

Acquisitions - Summary of Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions	Feb. 01, 2021	Sep. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 15,360	$ 14,551
Total consideration, net of cash acquired		$ 1,097
Aperio [Member]
Business Acquisition [Line Items]
Accounts receivable	$ 16
Goodwill	787
Deferred income tax liabilities	(16)
Other liabilities assumed	(12)
Total consideration, net of cash acquired	1,062
Cash paid	1,066
Cash acquired	(4)
Total consideration, net of cash acquired	1,062
Aperio [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets	270
Aperio [Member] | Other [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets	$ 17

Acquisitions - Summary of Fai_2

Acquisitions - Summary of Fair Values of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - Aperio [Member]	Feb. 01, 2021	Sep. 30, 2021
Business Acquisition [Line Items]
Weighted average estimated useful life		9 years
Customer Relationships [Member]
Business Acquisition [Line Items]
Weighted average estimated useful life	10 years
Level 3 Input [Member] | Customer Relationships [Member] | Excess Earnings Method [Member]
Business Acquisition [Line Items]
Weighted average estimated useful life	10 years

Acquisitions - Summary of Finit

Acquisitions - Summary of Finite Lived Intangible Assets Weighted Average Remaining Useful Life of Remaining amortization Expense (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Total	$ 898	$ 685
Aperio [Member]
Finite Lived Intangible Assets [Line Items]
2021 (excluding the nine months ended September 30, 2021)	10
2022	40
2023	38
2024	32
2025	29
Thereafter	111
Total	$ 260

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		Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	[1]	$ 7,361	$ 8,664
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		$ 7,378	$ 8,681	$ 6,524	$ 4,846
[1]	At September 30, 2021, cash and cash equivalents, investments, other assets and other liabilities include $204 million, $4,099 million, $83 million, and $1,799 million, respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2020, cash and cash equivalents, investments, other assets and other liabilities include $155 million, $4,253 million, $90 million, and $952 million, respectively, related to consolidated VIEs.

Investments - Summary of Carryi

Investments - Summary of Carrying Value of Total Investments (Detail) - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Held-to-maturity investments		$ 386	$ 310
Trading securities		1,480	1,964
Total debt securities		1,866	2,274
Equity securities at FVTNI		1,591	2,317
Total investments	[1]	7,101	6,919
Bank loans		282	248
Other Investments [Member]
Schedule of Investments [Line Items]
Total investments		277	278
Equity Method Investments [Member]
Schedule of Investments [Line Items]
Total investments		1,544	1,081
Federal Reserve Bank Stock [Member]
Schedule of Investments [Line Items]
Total investments		95	94
Consolidated Entities [Member] | Carried Interest [Member]
Schedule of Investments [Line Items]
Total investments		$ 1,446	$ 627
[1]	At September 30, 2021, cash and cash equivalents, investments, other assets and other liabilities include $204 million, $4,099 million, $83 million, and $1,799 million, respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2020, cash and cash equivalents, investments, other assets and other liabilities include $155 million, $4,253 million, $90 million, and $952 million, respectively, related to consolidated VIEs.

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Held-to-maturity investments	$ 386	$ 310
Held-to-maturity investments, after one year through five years	36
Foreign government debt, after five years through ten years	96
Held-to-maturity investments, after ten years	$ 254

Investments - Summary of Cost a

Investments - Summary of Cost and Carrying Value of Equity and Trading Debt Securities (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Total trading debt securities, Cost	$ 1,484	$ 1,926
Equity securities at FVTNI, Cost	1,311	2,055
Total trading debt, Carrying Value	1,480	1,964
Equity securities at FVTNI, Carrying Value	1,591	2,317
Corporate Debt [Member]
Schedule of Investments [Line Items]
Total trading debt securities, Cost	961	1,591
Total trading debt, Carrying Value	970	1,641
Government Debt [Member]
Schedule of Investments [Line Items]
Total trading debt securities, Cost	403	203
Total trading debt, Carrying Value	403	210
Asset/Mortgage-Backed Debt [Member]
Schedule of Investments [Line Items]
Total trading debt securities, Cost	120	132
Total trading debt, Carrying Value	107	113
Equity Securities/Mutual Funds [Member]
Schedule of Investments [Line Items]
Equity securities at FVTNI, Cost	1,311	2,055
Equity securities at FVTNI, Carrying Value	$ 1,591	$ 2,317

Consolidated Sponsored Invest_3

Consolidated Sponsored Investment Products - Consolidated VIEs And VREs Recorded in Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Consolidated Sponsored Investment Funds [Line Items]
Cash and cash equivalents	[1]	$ 7,361	$ 8,664
Investments:
Trading debt securities		1,480	1,964
Equity securities		1,591	2,317
Bank loans		282	248
Total investments	[1]	7,101	6,919
Other assets	[1]	3,961	2,550
Other liabilities	[1]	(4,585)	(2,937)
Consolidated Variable Interest Entities [Member]
Consolidated Sponsored Investment Funds [Line Items]
Cash and cash equivalents		204	155
Investments:
Trading debt securities		1,258	1,618
Bank loans		282	248
Other investments		207	191
Carried interest		1,406	604
Total investments		4,099	4,253
Other assets		83	90
Other liabilities		(1,799)	(952)
Noncontrolling interests - CIPs		(1,416)	(2,193)
BlackRock's net interests in CIPs		1,171	1,353
Consolidated Voting Rights Entities [Member]
Consolidated Sponsored Investment Funds [Line Items]
Cash and cash equivalents		61	51
Investments:
Trading debt securities		167	310
Total investments		475	723
Other assets		10	9
Other liabilities		(39)	(70)
Noncontrolling interests - CIPs		(59)	(180)
BlackRock's net interests in CIPs		448	533
Consolidated Sponsored Investment Products [Member]
Consolidated Sponsored Investment Funds [Line Items]
Cash and cash equivalents		265	206
Investments:
Trading debt securities		1,425	1,928
Bank loans		282	248
Other investments		207	191
Carried interest		1,406	604
Total investments		4,574	4,976
Other assets		93	99
Other liabilities		(1,838)	(1,022)
Noncontrolling interests - CIPs		(1,475)	(2,373)
BlackRock's net interests in CIPs		1,619	1,886
Equity securities [Member]
Investments:
Equity securities		1,591	2,317
Equity securities [Member] | Consolidated Variable Interest Entities [Member]
Investments:
Equity securities		946	1,592
Equity securities [Member] | Consolidated Voting Rights Entities [Member]
Investments:
Equity securities		308	413
Equity securities [Member] | Consolidated Sponsored Investment Products [Member]
Investments:
Equity securities		$ 1,254	$ 2,005
[1]	At September 30, 2021, cash and cash equivalents, investments, other assets and other liabilities include $204 million, $4,099 million, $83 million, and $1,799 million, respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2020, cash and cash equivalents, investments, other assets and other liabilities include $155 million, $4,253 million, $90 million, and $952 million, 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Variable Interest Entity [Line Items]
Nonoperating net gain (loss) on consolidated VIEs	$ 370	$ 269	$ 766	$ 627
Net income (loss) attributable to NCI on consolidated VIEs	72	153	315	162
Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Nonoperating net gain (loss) on consolidated VIEs	50	213	323	186
Net income (loss) attributable to NCI on consolidated VIEs	$ 73	$ 149	$ 296	$ 169

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 ($)	Sep. 30, 2021	Dec. 31, 2020
Investments [Member]
Variable Interest Entity [Line Items]
Sponsored investment products	$ 865,000,000	$ 662,000,000
Advisory Fee Receivables [Member]
Variable Interest Entity [Line Items]
Sponsored investment products	71,000,000	71,000,000
Other Net Assets (Liabilities) [Member]
Variable Interest Entity [Line Items]
Sponsored investment products	(12,000,000)	(13,000,000)
Maximum Risk of Loss [Member]
Variable Interest Entity [Line Items]
Sponsored investment products	$ 953,000,000	$ 750,000,000

Variable Interest Entities Re_2

Variable Interest Entities Reflects adoption of ASU 2015-12 - Additional Information (Detail) - USD ($) $ in Billions	Sep. 30, 2021	Dec. 31, 2020
Variable Interest Entity, Not Primary Beneficiary [Member] | Sponsored Investment Products [Member]
Variable Interest Entity [Line Items]
Net assets of investments funds	$ 23	$ 16

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities	$ 1,480	$ 1,964
Equity securities/mutual funds	1,591	2,317
Separate account assets	96,755	104,663
Total separate account collateral held under securities lending agreements	14,100	16,500
Separate account collateral liabilities under securities lending agreements	14,106	16,507
Equity securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities/mutual funds	1,591	2,317
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	48	69
Fair Value, Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Held-to-maturity investments	386	310
Total debt securities	1,866	2,274
Total equity method	1,544	1,081
Bank loans	282	248
Federal Reserve Bank Stock	95	94
Carried interest	1,446	627
Other investments	277	278
Total investments	7,101	6,919
Other assets	220	218
Separate account assets	96,755	104,663
Total separate account collateral held under securities lending agreements	14,106	16,507
Total	118,182	128,307
Separate account collateral liabilities under securities lending agreements	14,106	16,507
Other liabilities	381	340
Total liabilities measured at fair value	14,487	16,847
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 equity method	339	235
Total investments	1,930	2,552
Other assets	197	205
Separate account assets	65,704	71,392
Total separate account collateral held under securities lending agreements	10,551	13,126
Total	78,382	87,275
Separate account collateral liabilities under securities lending agreements	10,551	13,126
Total liabilities measured at fair value	10,551	13,126
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	1,450	1,953
Bank loans	9	16
Other investments	4
Total investments	1,463	1,969
Other assets	23	13
Separate account assets	30,146	32,404
Total separate account collateral held under securities lending agreements	3,555	3,381
Total	35,187	37,767
Separate account collateral liabilities under securities lending agreements	3,555	3,381
Other liabilities	41	68
Total liabilities measured at fair value	3,596	3,449
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	30	11
Bank loans	273	232
Other investments	5	9
Total investments	308	252
Total	308	252
Other liabilities	340	272
Total liabilities measured at fair value	340	272
Fair Value, Measurements, Recurring [Member] | Equity Securities/Mutual Funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities/mutual funds	1,591	2,317
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]
Equity securities/mutual funds	1,591	2,317
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	1,480	1,964
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	1,450	1,953
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	30	11
Fair Value, Measurements, Recurring [Member] | Equity And Fixed Income Mutual Funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	339	235
Fair Value, Measurements, Recurring [Member] | Equity And 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]
Total equity method	339	235
Fair Value, Measurements, Recurring [Member] | Hedge Funds/Funds of Hedge Funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	359	313
Fair Value, Measurements, Recurring [Member] | Private/ Public Equity [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	633	315
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	213	218
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	10,551	13,126
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	10,551	13,126
Fair Value, Measurements, Recurring [Member] | Debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total separate account collateral held under securities lending agreements	3,555	3,381
Fair Value, Measurements, Recurring [Member] | Debt 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	3,555	3,381
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	1,205	846
Other investments	94	94
Total investments	1,299	940
Total	1,299	940
Fair Value, Measurements, Recurring [Member] | Investments Measured at NAV [Member] | Hedge Funds/Funds of Hedge Funds [Member] | Investment in NAV [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	359	313
Fair Value, Measurements, Recurring [Member] | Investments Measured at NAV [Member] | Private/ Public Equity [Member] | Investment in NAV [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity method	633	315
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	213	218
Fair Value, Measurements, Recurring [Member] | Other [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Held-to-maturity investments	386	310
Total debt securities	386	310
Federal Reserve Bank Stock	95	94
Carried interest	1,446	627
Other investments	174	175
Total investments	2,101	1,206
Separate account assets	905	867
Total	$ 3,006	$ 2,073

Fair Value Disclosures - Additi

Fair Value Disclosures - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
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	$ 54	$ 35
Significant Unobservable Inputs (Level 3) [Member] | Private/ Public Equity [Member] | Consolidated Variable Interest Entities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total investments	$ 308	$ 252

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities measured at fair value, beginning balance	$ 298	$ 262	$ 272	$ 388
Realized and Unrealized Gains (Losses), Liabilities	(28)		(32)	(23)
Issuances and other Settlements, Liabilities	14	(1)	36	(150)
Liabilities measured at fair value, ending balance	340	261	340	261
Total Net Unrealized Gains (Losses) Included in Earnings	(28)		(32)	(5)
Other Liabilities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities measured at fair value, beginning balance	298	262	272	388
Realized and Unrealized Gains (Losses), Liabilities	(28)		(32)	(23)
Issuances and other Settlements, Liabilities	14	(1)	36	(150)
Liabilities measured at fair value, ending balance	340	261	340	261
Total Net Unrealized Gains (Losses) Included in Earnings	(28)		(32)	(5)
Investments [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value, beginning balance	287	255	252	194
Realized and Unrealized Gains (Losses),Assets	3		3
Purchases, Assets	28	1	69	47
Sales and Maturities, Assets	(5)	(15)	(5)	(16)
Transfers into Level 3, Assets	1		11	16
Transfers out of Level 3, Assets	(6)	(3)	(22)	(3)
Assets measured at fair value, ending balance	308	238	308	238
Total Net Unrealized Gains (Losses) Included in Earnings	3		3
Debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value, beginning balance	21	10	11	8
Realized and Unrealized Gains (Losses),Assets	2		2
Purchases, Assets	12	1	24	3
Sales and Maturities, Assets	(5)		(5)
Transfers out of Level 3, Assets			(2)
Assets measured at fair value, ending balance	30	11	30	11
Total Net Unrealized Gains (Losses) Included in Earnings	2		2
Debt securities [Member] | Trading [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value, beginning balance	21	10	11	8
Realized and Unrealized Gains (Losses),Assets	2		2
Purchases, Assets	12	1	24	3
Sales and Maturities, Assets	(5)		(5)
Transfers out of Level 3, Assets			(2)
Assets measured at fair value, ending balance	30	11	30	11
Total Net Unrealized Gains (Losses) Included in Earnings	2		2
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	261	229	232	177
Purchases, Assets	16		45	36
Sales and Maturities, Assets		(9)		(9)
Transfers into Level 3, Assets	1		11	16
Transfers out of Level 3, Assets	(5)	(3)	(15)	(3)
Assets measured at fair value, ending balance	273	217	273	217
Consolidated Variable Interest Entities [Member] | Private/ Public Equity [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value, beginning balance	5	16	9	9
Realized and Unrealized Gains (Losses),Assets	1		1
Purchases, Assets				8
Sales and Maturities, Assets		(6)		(7)
Transfers out of Level 3, Assets	(1)		(5)
Assets measured at fair value, ending balance	5	$ 10	5	$ 10
Total Net Unrealized Gains (Losses) Included in Earnings	$ 1		$ 1

Fair Value Disclosures - Fair V

Fair Value Disclosures - Fair Value of Financial Assets and Financial Liabilities (Detail) - USD ($) $ in Millions		Sep. 30, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	$ 7,361	$ 8,664
Long-term borrowings		6,474	7,264
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		7,361	8,664
Other assets		48	69
Carrying Amount [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term borrowings		6,474	7,264
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		7,361	8,664
Other assets		48	69
Estimated Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term borrowings		$ 6,836	$ 7,883
[1]	At September 30, 2021, cash and cash equivalents, investments, other assets and other liabilities include $204 million, $4,099 million, $83 million, and $1,799 million, respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2020, cash and cash equivalents, investments, other assets and other liabilities include $155 million, $4,253 million, $90 million, and $952 million, 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		Sep. 30, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	$ 7,361	$ 8,664
Money market valuation per share floor		$ 1
Money Market Funds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents		$ 677	$ 1,249
[1]	At September 30, 2021, cash and cash equivalents, investments, other assets and other liabilities include $204 million, $4,099 million, $83 million, and $1,799 million, respectively, related to consolidated variable interest entities (“VIEs”). At December 31, 2020, cash and cash equivalents, investments, other assets and other liabilities include $155 million, $4,253 million, $90 million, and $952 million, 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	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 786	$ 779
Fair Value Measured at NAV per share [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	1,299	940
Hedge Funds/Funds of Hedge Funds [Member] | Consolidated Variable Interest Entities [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	23
Hedge Funds/Funds of Hedge 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	2
Real Assets Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	335	299
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	106	94
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	87	75
Private Equity Funds Of Funds [Member] | Consolidated Variable Interest Entities [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	3	7
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	5	19
Equity Method Investments [Member] | Hedge Funds/Funds of Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 123	$ 101
Redemption Frequency (Daily)	21.00%	21.00%
Redemption Frequency (Monthly)	21.00%	21.00%
Redemption Frequency (Quarterly)	21.00%	21.00%
Redemption Frequency (Not Redeemable)	58.00%	58.00%
Equity Method Investments [Member] | Hedge Funds/Funds of Hedge 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	$ 359	$ 313
Equity Method Investments [Member] | Hedge Funds/Funds of Hedge Funds [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 [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	$ 302	$ 372
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	633	315
Equity Method Investments [Member] | Real Assets Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 229	$ 205
Redemption Frequency (Quarterly)	21.00%	31.00%
Redemption Frequency (Not Redeemable)	79.00%	69.00%
Redemption Notice Period, Not Redeemable	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	$ 213	$ 218

Fair Value Disclosures - Inve_2

Fair Value Disclosures - Investments in Certain Entities Calculate Net Asset Value per Share (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	$ 786	$ 779
Real Assets Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	335	299
Total remaining Unfunded Commitments	295	267
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	106	94
Private Equity Funds Of Funds [Member] | Consolidated Variable Interest Entities [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Commitments	3	7
Amount of unfunded commitments contractually obligated to fund	$ 17	$ 17

Fair Value Disclosures - Summar

Fair Value Disclosures - 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 (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value Option Quantitative Disclosures [Line Items]
Aggregate principal amounts outstanding	$ 6,511
CLO Bank Loans [Member]
Fair Value Option Quantitative Disclosures [Line Items]
Aggregate principal amounts outstanding	280	$ 250
Fair value	282	248
Aggregate unpaid principal balance in excess of (less than) fair value	(2)	2
CLO Borrowings [Member]
Fair Value Option Quantitative Disclosures [Line Items]
Aggregate principal amounts outstanding	275	244
Fair value	$ 278	$ 246

Derivatives and Hedging - Addit

Derivatives and Hedging - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Derivative maximum risk of loss	$ 17	$ 17
Forward Foreign Currency Exchange Contracts [Member]
Derivative [Line Items]
Notional value	$ 2,200	$ 2,800
Derivative Expiration Dates	2021-10	2021-01
Total Return Swaps [Member]
Derivative [Line Items]
Notional value	$ 801	$ 833

Derivatives and Hedging - Summa

Derivatives and Hedging - Summary of Fair Values of Derivatives Instruments Recognized in Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Other Assets [Member]
Derivatives Fair Value [Line Items]
Other assets, fair value	$ 23	$ 13
Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Other liabilities, fair value	29	55
Forward Foreign Currency Exchange Contracts [Member] | Other Assets [Member]
Derivatives Fair Value [Line Items]
Other assets, fair value	1	13
Forward Foreign Currency Exchange Contracts [Member] | Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Other liabilities, fair value	28	5
Total Return Swaps [Member] | Other Assets [Member]
Derivatives Fair Value [Line Items]
Other assets, fair value	22
Total Return Swaps [Member] | Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Other liabilities, fair value	$ 1	$ 50

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments Gain Loss [Line Items]
Total gain (loss) from derivative instruments	$ (32)	$ 22	$ (106)	$ (25)
Forward Foreign Currency Exchange Contracts [Member] | General and Administration Expense [Member]
Derivative Instruments Gain Loss [Line Items]
Total gain (loss) from derivative instruments	(46)	64	(36)	(34)
Total Return Swaps [Member] | Nonoperating Income (Expense) [Member]
Derivative Instruments Gain Loss [Line Items]
Total gain (loss) from derivative instruments	$ 14	$ (42)	$ (70)	$ 9

Goodwill - Goodwill Activity (D

Goodwill - Goodwill Activity (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill Roll Forward
Beginning balance	$ 14,551
Acquisitions	816
Other	(7)
Ending balance	$ 15,360

Goodwill - Goodwill Activity (P

Goodwill - Goodwill Activity (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Goodwill Roll Forward
Excess of tax goodwill over book goodwill	$ 51	$ 74

Intangible Assets - Carrying Am

Intangible Assets - Carrying Amounts of Identifiable Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Indefinite-lived intangible assets	$ 17,578		$ 17,578		$ 17,578
Finite-lived intangible assets, Beginning balance			685
Finite-lived intangible assets, acquisitions			322
Finite-lived intangible assets, amortization expense	(38)	$ (27)	(109)	$ (79)
Finite-lived intangible assets, Ending balance	898		898
Intangible assets, Beginning balance			18,263
Intangible assets, Ending balance	$ 18,476		$ 18,476

Intangible Assets - Carrying _2

Intangible Assets - Carrying Amounts of Identifiable Intangible Assets (Parenthetical) (Detail) - USD ($) $ in Millions	Feb. 01, 2021	Sep. 30, 2021
Schedule Of Intangible Assets [Line Items]
Finite-lived intangible assets, acquired		$ 322
Aperio [Member]
Schedule Of Intangible Assets [Line Items]
Acquired finite-lived intangible assets weighted-average useful life		9 years
Aperio [Member] | Customer Relationships [Member]
Schedule Of Intangible Assets [Line Items]
Finite-lived intangible assets, acquired	$ 270
Acquired finite-lived intangible assets weighted-average useful life	10 years
Aperio [Member] | Trade Names [Member]
Schedule Of Intangible Assets [Line Items]
Finite-lived intangible assets, acquired	$ 9
Acquired finite-lived intangible assets weighted-average useful life	5 years
Aperio [Member] | Technology-Related [Member]
Schedule Of Intangible Assets [Line Items]
Finite-lived intangible assets, acquired	$ 8
Acquired finite-lived intangible assets weighted-average useful life	3 years

Leases - Components of Lease Co

Leases - Components of Lease Cost (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lease cost:
Operating lease cost	[1]	$ 50	$ 37	$ 128	$ 110
Variable lease cost	[2]	10	10	30	29
Total lease cost		$ 60	$ 47	$ 158	$ 139
[1]	Amounts include short-term leases, which are immaterial for the three and nine months ended September 30, 2021 and 2020.
[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.

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Information Related to Operating Leases (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Supplemental cash flow information:
Operating cash flows from operating leases included in the measurement of operating lease liabilities	$ 108	$ 114
Supplemental noncash information:
ROU assets in exchange for operating lease liabilities	$ 1,297	$ 77
Weighted-average remaining lease term	16 years		8 years
Weighted-average discount rate	3.00%		3.00%

Other Assets - Additional Infor

Other Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
iCapital [Member]
Other Assets [Line Items]
Carrying value - equity method investment	$ 401	$ 401		$ 296
Nonoperating pre-tax gain	107	107	$ 240
Other Assets [Member]
Other Assets [Line Items]
Carrying value - equity method investment	$ 582	$ 582		$ 399

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) - USD ($)	1 Months Ended	9 Months Ended
	May 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Repayments of long-term borrowings		$ 750,000,000
Borrowings		6,474,000,000	$ 7,264,000,000
Fair Value		6,836,000,000	$ 7,900,000,000
Commercial Paper [Member]
Debt Instrument [Line Items]
Maximum amount available under facility		4,000,000,000
Amount outstanding under credit facility		0
2021 Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility		4,400,000,000
Additional amount available, subject to lender credit approval		1,000,000,000
Maximum amount available under facility		5,400,000,000
Amount outstanding under credit facility		$ 0
Extended debt instrument maturity date		2026-03
Line of credit facility, covenant terms		The 2021 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		satisfied with a ratio of less than 1 to 1
4.25% Notes due 2021 [Member]
Debt Instrument [Line Items]
Repayments of long-term borrowings	$ 750,000,000

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	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Maturity Amount	$ 6,511
Unamortized Discount and Debt Issuance Costs	(37)
Carrying Value	6,474	$ 7,264
Fair Value	6,836	$ 7,900
3.375% Notes due 2022 [Member]
Debt Instrument [Line Items]
Maturity Amount	750
Carrying Value	750
Fair Value	766
3.50% Notes due 2024 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,000
Unamortized Discount and Debt Issuance Costs	(2)
Carrying Value	998
Fair Value	1,071
1.25% Notes due 2025 [Member]
Debt Instrument [Line Items]
Maturity Amount	811
Unamortized Discount and Debt Issuance Costs	(3)
Carrying Value	808
Fair Value	851
3.20% Notes due 2027 [Member]
Debt Instrument [Line Items]
Maturity Amount	700
Unamortized Discount and Debt Issuance Costs	(4)
Carrying Value	696
Fair Value	767
3.25% Notes due 2029 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,000
Unamortized Discount and Debt Issuance Costs	(11)
Carrying Value	989
Fair Value	1,097
2.40% Notes due 2030 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,000
Unamortized Discount and Debt Issuance Costs	(6)
Carrying Value	994
Fair Value	1,034
1.90% Notes due 2031 [Member]
Debt Instrument [Line Items]
Maturity Amount	1,250
Unamortized Discount and Debt Issuance Costs	(11)
Carrying Value	1,239
Fair Value	$ 1,250

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 05, 2021	Sep. 30, 2021	Dec. 31, 2020
Commitment And Contingencies [Line Items]
Investment commitments		$ 905,000
Derivative maximum risk of loss for credit protection		17,000	$ 17,000
Parties settlement	$ 9,650
Amount of securities on loan subject to indemnification		279,000,000
Collateral for indemnified securities		299,000,000
Other Liabilities [Member]
Commitment And Contingencies [Line Items]
Contingent consideration at fair value		$ 62,000

Revenue - Summary of Investment

Revenue - Summary of Investment Advisory, Administration Fees and Securities Lending Revenue by Type (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation Of Revenue [Line Items]
Total revenue	$ 5,050	$ 4,369	$ 14,268	$ 11,727
Investment Advisory, Administration Fees and Securities Lending Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,943	3,225	11,292	9,246
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Equity Active Product [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	674	457	1,891	1,236
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Equity ETFs [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,212	880	3,436	2,551
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Equity Non-ETF Index [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	207	164	581	505
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Equity [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2,093	1,501	5,908	4,292
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Fixed Income Active [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	561	498	1,631	1,443
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Fixed Income ETFs [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	304	297	893	817
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Fixed Income Non-ETF Index [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	121	113	350	354
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Fixed Income [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	986	908	2,874	2,614
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Multi-asset [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	369	289	1,041	852
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	384	323	1,124	895
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Alternatives [Member] | Illiquid Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	166	140	501	416
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Alternatives [Member] | Liquid Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	163	132	460	361
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Alternatives [Member] | Currency and Commodities [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	55	51	163	118
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Cash Management [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	111	204	345	593
Investment Advisory, Administration Fees and Securities Lending Revenue [Member] | Long-term [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,832	3,021	10,947	8,653
Investment Advisory Performance Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	345	532	814	685
Investment Advisory Performance Fees [Member] | Equity [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	8	4	70	29
Investment Advisory Performance Fees [Member] | Fixed Income [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2	9	31	13
Investment Advisory Performance Fees [Member] | Multi-asset [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		10	17	13
Investment Advisory Performance Fees [Member] | Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	335	509	696	630
Investment Advisory Performance Fees [Member] | Alternatives [Member] | Illiquid Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	50	6	147	55
Investment Advisory Performance Fees [Member] | Alternatives [Member] | Liquid Alternatives [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	285	503	549	575
Technology Services Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	320	282	942	834
Distribution Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	401	288	1,110	817
Distribution Fees [Member] | Retrocessions [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	294	188	796	519
Distribution Fees [Member] | 12b-1 Fees (US Mutual Fund Distribution Fees) [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	91	85	263	254
Distribution Fees [Member] | Other Distribution Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	16	15	51	44
Advisory and Other Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	41	42	110	145
Advisory and Other Revenue [Member] | Advisory [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	13	14	37	48
Advisory and Other Revenue [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 28	$ 28	$ 73	$ 97

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation Of Revenue [Line Items]
Total revenue	$ 5,050	$ 4,369	$ 14,268	$ 11,727
Revenue by Client Type [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,943	3,225	11,292	9,246
Revenue by Client Type [Member] | Retail [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,291	938	3,647	2,635
Revenue by Client Type [Member] | Equity ETFs [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,571	1,228	4,493	3,487
Revenue by Client Type [Member] | Institutional Active [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	684	594	1,991	1,714
Revenue by Client Type [Member] | Institutional Index [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	286	261	816	817
Revenue by Client Type [Member] | Institutional [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	970	855	2,807	2,531
Revenue by Client Type [Member] | Cash Management [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	111	204	345	593
Revenue by Client Type [Member] | Long-term [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,832	3,021	10,947	8,653
Revenue by Investment Style [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,943	3,225	11,292	9,246
Revenue by Investment Style [Member] | Active [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,928	1,511	5,509	4,292
Revenue by Investment Style [Member] | Cash Management [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	111	204	345	593
Revenue by Investment Style [Member] | Equity Index and ETFs [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,904	1,510	5,438	4,361
Revenue by Investment Style [Member] | Long-term [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 3,832	$ 3,021	$ 10,947	$ 8,653

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	Sep. 30, 2021	Sep. 30, 2020
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation	$ 481	$ 419
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		3 months
Revenue, Remaining Performance Obligation		$ 33
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
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		$ 125
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Schedule of Investment Advisory Administration Fees and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue, Remaining Performance Obligation	$ 45
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
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	$ 157	$ 108
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
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	$ 143	$ 92
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	$ 85	$ 61
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
Revenue, Remaining Performance Obligation	$ 51

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	Sep. 30, 2021	Sep. 30, 2020
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	$ 481	$ 419

Revenue - Schedule of Changes i

Revenue - Schedule of Changes in Deferred Carried Interest Liability (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Beginning balance	$ 1,132	$ 418	$ 584	$ 483
Net increase (decrease) in unrealized allocations	277	29	904	4
Performance fee revenue recognized	(43)		(122)	(40)
Ending balance	$ 1,366	$ 447	$ 1,366	$ 447

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	Sep. 30, 2021	Sep. 30, 2020
Schedule of Investment Advisory Administration Fees and Securities Lending Revenue and Performance Fees by Type [line Items]
Revenue, Remaining Performance Obligation	$ 204	$ 219
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
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		3 months
Revenue, Remaining Performance Obligation		$ 37
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
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		$ 95
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
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	3 months
Revenue, Remaining Performance Obligation	$ 38
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
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	$ 83	$ 47
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
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	$ 43	$ 22
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	$ 22	$ 18
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
Revenue, Remaining Performance Obligation	$ 18

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	Sep. 30, 2021	Sep. 30, 2020
Technology Services Revenue [Member]
Schedule of Technology Services Revenue [line Items]
Revenue, Remaining Performance Obligation	$ 204	$ 219

Revenue - Additional Informatio

Revenue - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Schedule of Technology Services Revenue [line Items]
Estimated annual fixed minimum fees for currently outstanding contracts	$ 193
Minimum [Member]
Schedule of Technology Services Revenue [line Items]
Term of currently outstanding contracts	1 year
Maximum [Member]
Schedule of Technology Services Revenue [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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Beginning balance	$ 107	$ 108	$ 123	$ 116
Additions	28	30	72	88
Revenue recognized that was included in the beginning balance	(31)	(33)	(91)	(99)
Ending balance	$ 104	$ 105	$ 104	$ 105

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock and RSU Activity (Detail) - $ / shares	1 Months Ended	9 Months Ended
	Jan. 31, 2021	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock and RSUs, beginning of period	2,139,930	2,139,930
Restricted Stock and RSUs, Granted		875,480
Restricted Stock and RSUs, Converted		(745,474)
Restricted Stock and RSUs, Forfeited		(54,874)
Restricted Stock and RSUs, end of period		2,215,062
Weighted-Average Grant Date Fair Value, beginning of period	$ 489.81	$ 489.81
Weighted-Average Grant Date Fair Value, Granted		747.49
Weighted-Average Grant Date Fair Value, Converted		506.78
Weighted-Average Grant Date Fair Value, Forfeited		571.05
Weighted-Average Grant Date Fair Value, end of period		$ 583.93
Performance-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock and RSUs, beginning of period	700,217	700,217
Restricted Stock and RSUs, Granted		162,029
Restricted Stock and RSUs, Additional shares granted due to attainment of performance measures	4,545	4,545
Restricted Stock and RSUs, Converted		(193,872)
Restricted Stock and RSUs, Forfeited		(1,584)
Restricted Stock and RSUs, end of period		671,335
Weighted-Average Grant Date Fair Value, beginning of period	$ 494.51	$ 494.51
Weighted-Average Grant Date Fair Value, Granted		739.22
Weighted-Average Grant Date Fair Value, Additional Grants		566.44
Weighted-Average Grant Date Fair Value, Converted		566.44
Weighted-Average Grant Date Fair Value, Forfeited		410.32
Weighted-Average Grant Date Fair Value, end of period		$ 533.48

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended	9 Months Ended
	Jan. 31, 2021shares	Sep. 30, 2021USD ($)installment$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock and RSUs, Granted | shares		875,480
Fair value of RSUs/restricted stock granted to employees		$ 654
Remaining weighted-average period		5 years 2 months 12 days
RSUs/Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock and RSUs, Granted | shares	470,253
Award vesting period, years	3 years
Awards to employees cliff vesting | shares	247,621
RSUs to employees that cliff vest, percentage	100.00%
RSUs to employees that cliff vest, date	Jan. 31, 2024
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of outstanding RSUs		$ 1,900
Stock price | $ / shares		$ 838.66
Unrecognized stock-based compensation expense		$ 607
Remaining weighted-average period		1 year 2 months 12 days
Performance-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock and RSUs, Granted | shares		162,029
Award vesting period, years	3 years
Awards to employees cliff vesting | shares	162,029
RSUs to employees that cliff vest, percentage	100.00%
RSUs to employees that cliff vest, date	Jan. 31, 2024
Intrinsic value of outstanding RSUs		$ 563
Stock price | $ / shares		$ 838.66
Unrecognized stock-based compensation expense		$ 190
Remaining weighted-average period		1 year 2 months 12 days
Restricted Stock and RSUs, Additional shares granted due to attainment of performance measures | shares	4,545	4,545
Fair value of RSUs/restricted stock granted to employees		$ 122
Performance-Based Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted-average period		2 years 2 months 12 days
Award vesting percentage of BlackRock's grant-date stock price		125.00%
Award vesting period of BlackRock's grant-date stock price		5 years
Award performance measurement period		4 years
Award vesting, number of equal installments | installment		3
Unrecognized stock-based compensation expense		$ 55
Performance-Based Stock Options [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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]
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]
Service year of awards		2024

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Detail) - Performance-Based Stock Options [Member]	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Shares Under Option, Beginning of Period | shares	1,915,792
Outstanding, Shares Under Option, Forfeited | shares	(28,742)
Outstanding, Shares Under Option, End of Period | shares	1,887,050
Weighted Average Exercise Price, Beginning of Period | $ / shares	$ 513.50
Weighted Average Exercise Price, Forfeited | $ / shares	513.50
Weighted Average Exercise Price, End of Period | $ / shares	$ 513.50

Net Capital Requirements - Addi

Net Capital Requirements - Additional Information (Detail) $ in Billions	Sep. 30, 2021USD ($)
Regulatory Capital Requirements [Abstract]
Net capital requirement in certain regulated subsidiaries	$ 2.4

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in AOCI (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		$ 36,148	$ 32,786	$ 35,334	$ 33,613
Foreign currency translation adjustments	[1]	(138)	180	(189)	(30)
Balance		36,929	33,932	36,929	33,932
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		(388)	(781)	(337)	(571)
Foreign currency translation adjustments	[2]	(138)	180	(189)	(30)
Balance		$ (526)	$ (601)	$ (526)	$ (601)
[1]	Amounts for the three months ended September 30, 2021 and 2020 include a gain from a net investment hedge of $14 million (net of tax expense of $5 million) and a loss of $26 million (net of tax benefit of $8 million), respectively. Amounts for the nine months ended September 30, 2021 and 2020 include a gain from a net investment hedge of $34 million (net of tax expense of $11 million) and a loss of $27 million (net of tax benefit of $8 million), respectively
[2]	Amounts for the three months ended September 30, 2021 and 2020 include a gain from a net investment hedge of $14 million (net of tax expense of $5 million) and a loss of $26 million (net of tax benefit of $8 million), respectively. Amounts for the nine months ended September 30, 2021 and 2020 include a gain from a net investment hedge of $34 million (net of tax expense of $11 million) and a loss of $27 million (net of tax benefit of $8 million), respectively.

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Changes in AOCI (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Amounts Reclassified Out Of Accumulated Other Comprehensive Income Loss [Abstract]
Gain (loss) from net investment hedging, net of tax	$ 14	$ (26)	$ 34	$ (27)
Gain (loss) from net investment hedging, tax (expense) benefit	$ (5)	$ 8	$ (11)	$ 8

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Schedule of Capitalization, Equity [Line Items]
Common shares repurchased, value	$ 300	$ 900	$ 1,512
Share Repurchase Program [Member]
Schedule of Capitalization, Equity [Line Items]
Common shares repurchased		1,100,000
Common shares repurchased, value		$ 900
Shares authorized to be repurchased	3,900,000	3,900,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense benefit net noncash related to revaluation of deferred tax assets and liabilities	$ 54	$ 171	$ 54
Discrete income tax expense (benefit) for vested stock awards		$ 42	78
Discrete income tax benefit recognized in connection with charitable contribution			$ 241

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share Basic And Diluted [Line Items]
Net income attributable to BlackRock, Inc.	$ 1,681	$ 1,364	$ 4,258	$ 3,384
Basic weighted-average shares outstanding	152,120,927	152,488,073	152,375,504	153,816,544
Total diluted weighted-average shares outstanding	154,343,277	153,742,264	154,352,590	154,959,812
Basic earnings per share	$ 11.05	$ 8.94	$ 27.94	$ 22
Diluted earnings per share	$ 10.89	$ 8.87	$ 27.59	$ 21.84
Restricted Stock Units (RSUs) [Member]
Earnings Per Share Basic And Diluted [Line Items]
Dilutive effect of	1,474,725	1,254,191	1,354,405	1,143,268
Stock Options [Member]
Earnings Per Share Basic And Diluted [Line Items]
Dilutive effect of	747,625		622,681

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2021Segment
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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Revenue	$ 5,050	$ 4,369	$ 14,268	$ 11,727
Americas [Member]
Segment Reporting Information [Line Items]
Revenue	3,127	2,631	9,095	7,581
Europe [Member]
Segment Reporting Information [Line Items]
Revenue	1,706	1,574	4,533	3,661
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Revenue	$ 217	$ 164	$ 640	$ 485

Segment Information - Schedule

Segment Information - Schedule of Long-Lived Assets by Geographic Region (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Long-lived assets	$ 16,063	$ 15,232
Americas [Member]
Segment Reporting Information [Line Items]
Long-lived assets	14,623	13,784
Europe [Member]
Segment Reporting Information [Line Items]
Long-lived assets	1,344	1,360
Asia-Pacific [Member]
Segment Reporting Information [Line Items]
Long-lived assets	$ 96	$ 88