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Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Information

23. Segment Information

The Company’s management directs BlackRock’s operations as one business, the asset management business. The Company utilizes a consolidated approach to assess performance and allocate resources. As such, the Company operates in one business segment.

The following table illustrates total revenue for the three and six months ended June 30, 2024 and 2023 by geographic region. These amounts are aggregated on a legal entity basis and do not necessarily reflect where the customer resides, or affiliated services are provided.

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(in millions)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

3,215

 

 

$

2,982

 

 

$

6,353

 

 

$

5,813

 

Europe

 

 

1,364

 

 

 

1,291

 

 

 

2,767

 

 

 

2,515

 

Asia-Pacific

 

 

226

 

 

 

190

 

 

 

413

 

 

 

378

 

Total revenue

 

$

4,805

 

 

$

4,463

 

 

$

9,533

 

 

$

8,706

 

 

See Note 15, Revenue, for further information on the Company’s sources of revenue.

The following table illustrates long-lived assets that consist of goodwill and property and equipment at June 30, 2024 and December 31, 2023 by geographic region. These amounts are aggregated on a legal entity basis and do not necessarily reflect where the asset is physically located.

 

 

June 30,

 

 

December 31,

 

(in millions)

 

2024

 

 

2023

 

Long-lived Assets

 

 

 

 

 

 

Americas

 

$

15,215

 

 

$

15,017

 

Europe

 

 

1,396

 

 

 

1,521

 

Asia-Pacific

 

 

94

 

 

 

98

 

Total long-lived assets

 

$

16,705

 

 

$

16,636

 

 

Americas is primarily comprised of the US, Latin America and Canada. Europe is primarily comprised of the UK, the Netherlands, Switzerland, France, Ireland and Luxembourg. Asia-Pacific is primarily comprised of Hong Kong, Australia, Japan and Singapore.