Annual Report 2013
Financial Highlights
($mm, except share data) 2014 2013 2012
Revenue $11,081 $10,180 $9,337
Net income attributable to BLK, GAAP 3,294 2,932 2,458
Net income attributable to BLK, as adjusted 3,310 2,882 2,438
Operating income, as adjusted 4,563 4,024 3,574
Operating margin, as adjusted 42.9% 41.4% 40.4%
Per Share
Diluted earnings, GAAP $19.25 $16.87 $13.79
Diluted earnings, as adjusted 19.34 16.58 13.68
Dividends declared 7.72 6.72 6.00
Diluted weighted-average common shares 171,112,261 173,828,902 178,017,679
Total AUM (end of period) $4,651,895 $4,324,088 $3,791,588
Drivers of Shareholder Value



Please review the Important Notes (in Info & Downloads) for information on certain non-GAAP figures shown above and throughout the Annual Report, as well as for source information on other data points throughout.