Consolidated Statements of Comprehensive Income
(Dollar amounts in millions)
Net income Other comprehensive income: Change in net unrealized gains (losses) from available-for-sale investments, net of tax: Unrealized holding gains (losses), net of tax Less: reclassification adjustment included in net income Net change from available-for-sale investments, net of tax (1) Minimum pension liability adjustment Foreign currency translation adjustments Other comprehensive income (loss) Comprehensive income Less: Comprehensive income (loss) attributable to non-controlling interests Comprehensive income attributable to BlackRock, Inc.
Year ended December 31, 2011 2010 2009 $2,339 $2,050 $897 (3) 3 (4) 1 1 (19) (4) 2 15 — (1) 1 (27) (1) 74 (31) — 90 2,308 2,050 987 2 (13) 22 $2,306 $2,063 $965
(1) The tax benefit (expense) on unrealized holding gains (losses) was $3 million, $(2) million and $(8) million in 2011, 2010 and 2009, respectively. See accompanying notes to consolidated financial statements.
Consolidated Statements of Changes in Equity
Accumulated Redeemable Other Non- Non Compre- Common Total redeemable controlling Additional hensive Shares Treasury Stock- Non- Total Interests/ Paid-in Retained Income Held in Stock holders’ controlling Permanent Temporary (Dollar amounts in millions) Capital(1) Earnings (Loss) Escrow Common Equity Interests Equity Equity December 31, 2008 $10,474 $1,982 ($186) ($143) ($58) $12,069 $225 $12,294 $266 Net income — 875 — — — 875 20 895 2 Dividends paid, net of dividend expense for unvested RSUs — (421) — — — (421) — (421) — Release of common stock from escrow agent in connection with Quellos Transaction — — — 6 — 6 — 6 — Stock-based compensation 316 — — — 1 317 — 317 — Issuance of shares to Barclays 8,529 — — — — 8,529 — 8,529 — Issuance of shares to institutional investors 2,800 — — — — 2,800 — 2,800 — Issuance of common shares for contingent consideration 43 — — — — 43 — 43 — PNC preferred stock capital contribution 6 — — — — 6 — 6 — Merrill Lynch cash capital contribution 25 — — — — 25 — 25 — Issuance of common shares related to employee stock transactions (78) — — — 100 22 — 22 — Employee tax benefit withholdings related to employee stock transactions — — — — (46) (46) — (46) — Net tax benefit (shortfall) from stock-based compensation 14 — — — — 14 — 14 — Minimum pension liability adjustment — — 1 — — 1 — 1 — Subscriptions/(redemptions/distribution)— non-controlling interest holders — — — — — — (8) (8) (247) Net consolidations (deconsolidations) of sponsored investment funds(2) — — — — — — (9) (9) 28 Other change in non-controlling interests — — — — — — (4) (4) — Foreign currency translation adjustments — — 74 — — 74 — 74 — Change in net unrealized gain (loss) from available-for-sale investments, net of tax — — 15 — — 15 — 15 — December 31, 2009 $22,129 $2,436 ($96) ($137) ($3) $24,329 $224 $24,553 $49 (1) Includes $1 million of common stock at par value at both December 31, 2009 and 2008 and $1 million of preferred stock at par value at December 31, 2009. (2) Includes $12 million of redeemable non-controlling interests acquired in the BGI Transaction on December 1, 2009. See accompanying notes to consolidated financial statements.
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