EXHIBIT 12.2
RATIO OF EARNINGS TO FIXED CHARGES
(unaudited)
(Dollar amounts in millions)
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Pro Forma
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As Reported
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Three Months
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Three Months
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Ended
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Year Ended
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Ended
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March 31,
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Dec 31,
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March 31,
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2012
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2011
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2012
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Income before income taxes
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$ | 829 | $ | 3,098 | $ | 838 | ||||||||
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Less:
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Net income (loss) attributable to non-controlling interests(1)
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3 | 2 | 3 | ||||||||||
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Pre-tax income attributable to BlackRock, Inc.
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826 | 3,096 | 835 | |||||||||||
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Add:
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Fixed charges
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72 | 273 | 63 | ||||||||||
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Distributions of earnings from equity method investees
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8 | 30 | 8 | |||||||||||
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Less:
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(Losses) earnings from equity method investees
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45 | 23 | 45 | ||||||||||
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Pre-tax income before fixed charges
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$ | 861 | $ | 3,376 | $ | 861 | ||||||||
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Fixed charges:
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Interest expense
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$ | 58 | $ | 213 | $ | 49 | ||||||||
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Interest expense on uncertain tax positions(2)
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3 | 10 | 3 | |||||||||||
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Portion of rent representative of interest
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11 | 50 | 11 | |||||||||||
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Total fixed charges
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$ | 72 | $ | 273 | $ | 63 | ||||||||
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Ratio of earnings to fixed charges
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12.0 | x | 12.4 | x | 13.7 | x | ||||||||
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______
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(1)
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Amount includes redeemable and nonredeemable non-controlling interests.
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(2)
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Interest expense on uncertain tax positions, in accordance with ASC 740-10, Income Taxes, has been recorded within income tax expense on the condensed consolidated statements of income.
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