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This excerpt taken from the BLK 8-K filed Dec 17, 2007. Fair Value of Financial Instruments Financial instruments consist of cash and cash equivalents, restricted cash and investments, investments in investment funds, and derivative financial instruments. The carrying amount of cash and cash equivalents, restricted cash, and investments approximates fair value. Purchases and sales of financial instruments, and the related revenues and expenses, are recorded on a trade-date basis. |
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