v3.22.1
Variable Interest Entities
 3 Months Ended
Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Variable Interest Entities

7. Variable Interest Entities

 

Nonconsolidated VIEs.    At March 31, 2022 and December 31, 2021, the Company’s carrying value of assets and liabilities included on the condensed 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 primary beneficiary (“PB”), was as follows:

 

(in millions)

 

 

 

 

Advisory Fee

 

 

Other Net Assets

 

 

Maximum

 

At March 31, 2022

Investments

 

 

Receivables

 

 

(Liabilities)

 

 

Risk of Loss(1)

 

Sponsored investment products

$

895

 

 

$

96

 

 

$

(12

)

 

$

1,008

 

At December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sponsored investment products

$

882

 

 

$

62

 

 

$

(12

)

 

$

961

 

 

 

(1)

At both March 31, 2022 and December 31, 2021, 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 $21 billion and $20 billion at March 31, 2022 and December 31, 2021, respectively.