18. 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 as defined in ASC 280-10.

The following table illustrates investment advisory, administration fees, securities lending revenue and performance fees by product type, technology and risk management revenue, distribution fees, and advisory and other revenue for the three and six months ended June 30, 2017 and 2016.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2017		2016		2017		2016
Equity	$	1,378	$	1,278	$	2,677	$	2,462
Fixed income		713		657		1,404		1,280
Multi-asset		289		293		566		580
Alternatives		206		216		412		412
Cash management		137		119		264		222
Total investment advisory, administration fees, securities lending revenue and performance fees		2,723		2,563		5,323		4,956
Technology and risk management revenue		164		146		322		287
Distribution fees		5		11		12		22
Advisory and other revenue		73		84		132		163
Total revenue	$	2,965	$	2,804	$	5,789	$	5,428

The following table illustrates total revenue for the three and six months ended June 30, 2017 and 2016 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
(in millions)	June 30,				June 30,
Revenue	2017		2016		2017		2016
Americas	$	2,012	$	1,876	$	3,951	$	3,646
Europe		803		792		1,550		1,514
Asia-Pacific		150		136		288		268
Total revenue	$	2,965	$	2,804	$	5,789	$	5,428

The following table illustrates long-lived assets that consist of goodwill and property and equipment at June 30, 2017 and December 31, 2016 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)	June 30,		December 31,
Long-lived Assets	2017		2016
Americas	$	13,498	$	13,424
Europe		163		163
Asia-Pacific		87		90
Total long-lived assets	$	13,748	$	13,677

Americas primarily is comprised of the United States and Canada, while Europe primarily is comprised of the United Kingdom and Luxembourg. Asia-Pacific primarily is comprised of Hong Kong, Australia, Japan and Singapore.