BlackRock Q4 Earnings Call Highlights

Non-operating results included $106 million of net investment losses, primarily from a non-cash mark-to-market loss related to BlackRock’s minority investment in Circle. Small said the company contributed a portion of its Circle stake to an existing donor-advised fund in mid-December, and that it still holds roughly 1.1 million shares of Circle common stock that will continue to be marked through investment income. The as-adjusted tax rate was about 20% in the quarter due to discrete items, and Small said t ...