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Earnings Per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share

26. Earnings Per Share

The following table sets forth the computation of basic and diluted EPS for 2025, 2024 and 2023:

(in millions, except shares and per share data)

 

2025

 

 

2024

 

 

2023

 

Basic net income attributable to BlackRock, Inc.

 

$

5,553

 

 

$

6,369

 

 

$

5,502

 

Add: Incremental net income from dilutive securities - NCI - Subco

 

 

127

 

 

 

—

 

 

 

—

 

Diluted net income attributable to BlackRock, Inc.

 

$

5,680

 

 

$

6,369

 

 

$

5,502

 

Basic weighted-average shares outstanding

 

 

154,984,319

 

 

 

150,042,269

 

 

 

149,327,558

 

Dilutive effect of:

 

 

 

 

 

 

 

 

 

      Nonparticipating RSUs

 

 

1,383,325

 

 

 

1,034,323

 

 

 

969,089

 

      Stock options

 

 

460,656

 

 

 

538,493

 

 

 

409,804

 

      Subco Units

 

 

4,038,221

 

 

 

—

 

 

 

—

 

Total diluted weighted-average shares outstanding

 

 

160,866,521

 

 

 

151,615,085

 

 

 

150,706,451

 

Basic earnings per share

 

$

35.83

 

 

$

42.45

 

 

$

36.85

 

Diluted earnings per share

 

$

35.31

 

 

$

42.01

 

 

$

36.51

 

The Company applies the treasury stock method to determine the dilutive weighted-average common shares outstanding for RSUs and stock options. The Company applies the “if-converted” method to the Subco Units to determine the dilutive impact, if any, of the exchange right included in the Subco Units.

The amount of anti-dilutive RSUs and stock options were immaterial for 2025 and 2024. For 2023, 194,240 shares primarily related to stock options were excluded from the calculation of diluted EPS because to include them would have an anti-dilutive effect. Certain performance-based awards were excluded from the diluted EPS calculation because the designated contingencies were not met.