Non-Current Liabilities

Blackrock·Balance Sheet Statement·17 metrics

Breakdown

Metric	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Total liabilities	—	$89.2B	$89.3B	$91.8B	$94.9B	$100.8B	$108.5B	$106.9B
Separate account liabilities	—	$56.7B	$52.8B	$53.7B	$56.1B	$53.6B	$60.1B	$58.8B
Long-term debt	—	$12.4B	$12.3B	$12.3B	$12.8B	$12.8B	$12.8B	$12.7B
Other non-current liabilities	—	$5.1B	$4B	$7.2B	$6.3B	$8.6B	$6.8B	$10.4B
Deferred Carried Interest Liability	$120M	$114M	$124M	$1.9B	$2.1B	$3.4B	$3.5B	$3.6B
Operating Lease Liabilities (Total)	—	$1.8B	$1.9B	$1.9B	$1.9B	$2.3B	$2.2B	$2.2B
Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $159 and $183)	—	$1.4B	$1.5B	$1.6B	$1.7B	$1.6B	$1.7B	$2.1B
Deferred Tax Liabilities - Insurance Reserves	—	—	$4.2B	—	—	—	$4.9B	—
Operating Lease Liability Payments - 2026 (Lessee)	—	—	$179M	—	—	—	$239M	—
Operating Lease Liability Payments - 2027 (Lessee)	—	—	$156M	—	—	—	$218M	—
Operating Lease Liability Payments - 2028 (Lessee)	—	—	$170M	—	—	—	$227M	—
Operating Lease Liability Payments - 2029 (Lessee)	—	—	$156M	—	—	—	$218M	—
Lease Liability Payments - Due After Year Five	—	—	$1.4B	—	—	—	$1.6B	—
Operating Lease Liability Payments - Thereafter (Lessee)	—	—	$1.4B	—	—	—	$1.6B	—
Unrecognized Tax Benefits	—	—	$517M	—	—	—	$511M	—
Unrecognized Tax Benefits - Impacting Effective Tax Rate	—	—	$431M	—	—	—	$435M	—
Unrecognized Tax Benefits - Income Tax Penalties and Interest Accrued	—	—	$203M	—	—	—	$173M	—