v3.19.3.a.u2
Variable Interest Entities
 12 Months Ended
Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Variable Interest Entities

7. Variable Interest Entities

 

Nonconsolidated VIEs. At December 31, 2019 and 2018, the Company’s carrying value of assets and liabilities included on the 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 PB, was as follows:

 

(in millions)

At December 31, 2019

 

Investments

 

 

Advisory

Fee

Receivables

 

 

Other Net

Assets

(Liabilities)

 

 

Maximum

Risk of Loss(1)

 

Sponsored investment products

 

$

539

 

 

$

71

 

 

$

(10

)

 

$

627

 

At December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sponsored investment products

 

$

348

 

 

$

43

 

 

$

(6

)

 

$

408

 

 

(1)

At December 31, 2019 and 2018, 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 $12 billion and $9 billion at December 31, 2019 and 2018, respectively.