Exhibit 12.1
BlackRock, Inc.
Computation of Earnings to Fixed Charges
Year ended December 31, | Three Months Ended March 31, | |||||||||||||||||||||||||||
2002 | 2003 | 2004 | 2005 | 2006 | 2006 | 2007 | ||||||||||||||||||||||
Pre-tax income | $ | 223,948 | $ | 250,902 | $ | 200,438 | $ | 375,755 | $ | 528,233 | $ | 113,122 | $ | 429,962 | ||||||||||||||
Add: Fixed charges | 4,726 | 5,211 | 5,590 | 15,236 | 22,393 | 3,900 | 17,894 | |||||||||||||||||||||
Distributions from equity investees | 1,008 | 3,144 | 2,276 | — | — | — | — | |||||||||||||||||||||
Less: Income from equity investees | (2,098 | ) | (4,912 | ) | (2,549 | ) | (11,526 | ) | (5,659 | ) | (3,392 | ) | (2,406 | ) | ||||||||||||||
Pre-tax income before fixed charges | $ | 227,584 | $ | 254,345 | $ | 205,755 | $ | 379,465 | $ | 544,967 | $ | 113,630 | $ | 445,450 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 683 | $ | 720 | $ | 835 | $ | 7,924 | $ | 9,916 | $ | 1,969 | $ | 10,986 | ||||||||||||||
Portion of rent representative of interest | 4,043 | 4,491 | 4,755 | 7,312 | 12,477 | 1,931 | 6,908 | |||||||||||||||||||||
Total fixed charges | $ | 4,726 | $ | 5,211 | $ | 5,590 | $ | 15,236 | $ | 22,393 | $ | 3,900 | $ | 17,894 | ||||||||||||||
Ratio of earnings to fixed charges | 48.15 | 48.81 | 36.81 | 24.91 | 24.34 | 29.14 | 24.89 | |||||||||||||||||||||