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DEBT OBLIGATIONS | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
DEBT OBLIGATIONS | DEBT OBLIGATIONS Asset Management Debt Obligations In Asset Management, KKR enters into credit agreements and issues debt for its general operating and investment purposes. KKR consolidates and reports debt obligations of KKR Financial Holdings LLC, a KKR subsidiary ("KFN"), which are non-recourse to KKR beyond the assets of KFN. From time to time, KKR may provide credit support for the funding obligations of its subsidiaries. Certain of KKR's consolidated investment funds have entered into financing arrangements with financial institutions, generally to provide liquidity to such investment funds. These financing arrangements are generally not direct obligations of the general partners of KKR's investment funds (beyond KKR's capital interest) or its management companies. Such borrowings have varying maturities and bear interest at floating rates. Borrowings are generally secured by the investment purchased with the proceeds of the borrowing and/or the uncalled capital commitment of each respective fund. When an investment vehicle borrows, the proceeds are available only for use by that investment vehicle and are not available for the benefit of other investment vehicles or KKR. Collateral within each investment vehicle is also available only against borrowings by that investment vehicle and not against the borrowings of other investment vehicles or KKR. In certain other cases, investments and other assets held directly by majority-owned consolidated investment vehicles and other entities have been funded with borrowings that are collateralized by the investments and assets they own. These borrowings are non-recourse to KKR beyond the investments or assets serving as collateral or the capital that KKR has committed to fund such investment vehicles. Such borrowings have varying maturities and generally bear interest at fixed rates. In addition, consolidated CFEs issue debt securities to third-party investors which are collateralized by assets held by the CFE. Debt securities issued by CFEs are supported solely by the assets held at the CFEs and are not collateralized by assets of any other KKR entity. CFEs also may have warehouse facilities with banks to provide liquidity to the CFE. The CFE's debt obligations are non-recourse to KKR beyond the assets of the CFE. KKR's Asset Management debt obligations consisted of the following:
|  | December 31, 2022 |  | December 31, 2021
|  | Financing Available |  | Borrowing Outstanding |  | Fair Value |  | Financing Available |  | Borrowing Outstanding |  | Fair Value
Revolving Credit Facilities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate Credit Agreement |  | $ | 1,500,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,000,000 |  |  | $ | — |  |  | $ | — |
KCM Credit Agreement |  | 723,132 |  |  | — |  |  | — |  |  | 728,799 |  |  | — |  |  | — |
KCM 364-Day Revolving Credit Agreement |  | 750,000 |  |  | — |  |  | — |  |  | 750,000 |  |  | — |  |  | — |
Notes Issued: (1) |  |  |  |  |  |  |  |  |  |  |  |
KKR ¥25 billion (or $189.5 million) 0.509% Notes Due 2023 | (4) | — |  |  | 189,432 |  |  | 189,447 |  |  | — |  |  | 216,881 |  |  | 216,818 |
KKR ¥5 billion (or $37.9 million) 0.764% Notes Due 2025 | (4) | — |  |  | 37,646 |  |  | 37,625 |  |  | — |  |  | 43,082 |  |  | 43,452 |
KKR ¥36.4 billion (or $275.9 million) 1.054% Notes Due 2027 | (4) | — |  |  | 274,628 |  |  | 271,081 |  |  | — |  |  | — |  |  | — |
KKR €650 million (or $693.9 million) 1.625% Notes Due 2029 | (5) | — |  |  | 687,928 |  |  | 565,003 |  |  | — |  |  | 729,048 |  |  | 776,926 |
KKR $750 million 3.750% Notes Due 2029 | (4) | — |  |  | 744,222 |  |  | 675,413 |  |  | — |  |  | 743,333 |  |  | 825,540 |
KKR ¥4.9 billion (or $37.1 million) 1.244% Notes Due 2029 | (4) | — |  |  | 36,657 |  |  | 36,020 |  |  | — |  |  | — |  |  | — |
KKR $750 million 4.850% Notes Due 2032 | (4) | — |  |  | 741,655 |  |  | 701,610 |  |  | — |  |  | — |  |  | — |
KKR ¥6.2 billion (or $47.0 million) 1.437% Notes Due 2032 | (4) | — |  |  | 46,431 |  |  | 44,800 |  |  | — |  |  | — |  |  | — |
KKR ¥7.5 billion (or $56.9 million) 1.553% Notes Due 2034 | (4) | — |  |  | 56,204 |  |  | 53,477 |  |  | — |  |  | — |  |  | — |
KKR ¥5.5 billion (or $41.7 million) 1.795% Notes Due 2037 | (4) | — |  |  | 41,097 |  |  | 38,550 |  |  | — |  |  | — |  |  | — |
KKR ¥10.3 billion (or $78.1 million) 1.595% Notes Due 2038 | (4) | — |  |  | 77,134 |  |  | 69,565 |  |  | — |  |  | 88,505 |  |  | 92,198 |
KKR $500 million 5.500% Notes Due 2043 (6) | (4) | — |  |  | 490,494 |  |  | 455,287 |  |  | — |  |  | 491,153 |  |  | 661,351 |
KKR $1.0 billion 5.125% Notes Due 2044 (6) | (4) | — |  |  | 964,726 |  |  | 845,944 |  |  | — |  |  | 951,462 |  |  | 1,237,888 |
KKR $500 million 3.625% Notes Due 2050 | (4) | — |  |  | 492,753 |  |  | 343,490 |  |  | — |  |  | 492,486 |  |  | 535,550 |
KKR $750 million 3.500% Notes Due 2050 (6) | (4) | — |  |  | 736,451 |  |  | 503,862 |  |  | — |  |  | 735,905 |  |  | 784,650 |
KKR $750 million 3.250% Notes Due 2051 | (4) | — |  |  | 739,832 |  |  | 475,920 |  |  | — |  |  | 739,481 |  |  | 747,900 |
KKR $500 million 4.625% Notes Due 2061 | (5) | — |  |  | 486,399 |  |  | 340,400 |  |  | — |  |  | 486,044 |  |  | 523,200 |
KFN $500 million 5.500% Notes Due 2032 | (2) | — |  |  | 495,511 |  |  | 417,551 |  |  | — |  |  | 495,025 |  |  | 487,779 |
KFN $120 million 5.200% Notes Due 2033 | (2) | — |  |  | 118,773 |  |  | 96,502 |  |  | — |  |  | 118,654 |  |  | 115,535 |
KFN $70 million 5.400% Notes Due 2033 | (2) | — |  |  | 69,048 |  |  | 57,042 |  |  | — |  |  | 68,957 |  |  | 68,532 |
KFN Issued Junior Subordinated Notes (3) | (2) | — |  |  | 237,471 |  |  | 189,673 |  |  | — |  |  | 236,138 |  |  | 178,335 |
|  | 2,973,132 |  |  | 7,764,492 |  |  | 6,408,262 |  |  | 2,478,799 |  |  | 6,636,154 |  |  | 7,295,654 |
Other Debt Obligations(6) |  | 4,837,893 |  |  | 32,834,121 |  |  | 32,649,546 |  |  | 4,941,755 |  |  | 30,033,601 |  |  | 30,033,601 |
|  | $ | 7,811,025 |  |  | $ | 40,598,613 |  |  | $ | 39,057,808 |  |  | $ | 7,420,554 |  |  | $ | 36,669,755 |  |  | $ | 37,329,255 |
(1)Borrowing outstanding includes: (i) unamortized note discount (net of premium), as applicable and (ii) unamortized debt issuance costs, as applicable. Financing costs related to the issuance of the notes have been deducted from the note liability and are being amortized over the life of the notes.
|  | December 31, 2022 |  | December 31, 2021
KKR Issued 0.509% Notes Due 2023 |  | $ | 68 |  |  | $ | 369 |
KKR Issued 0.764% Notes Due 2025 |  | 254 |  |  | 368 |
KKR Issued 1.054% Notes Due 2027 |  | 1,284 |  |  | — |
KKR Issued 1.244% Notes Due 2029 |  | 485 |  |  | — |
KKR Issued 1.625% Notes Due 2029 |  | 3,914 |  |  | 4,526 |
KKR Issued 3.750% Notes Due 2029 |  | 4,177 |  |  | 4,820 |
KKR Issued 1.437% Notes Due 2032 |  | 565 |  |  | — |
KKR Issued 4.850% Notes Due 2032 |  | 5,862 |  |  | — |
KKR Issued 1.553% Notes Due 2034 |  | 646 |  |  | — |
KKR Issued 1.795% Notes Due 2037 |  | 593 |  |  | — |
KKR Issued 1.595% Notes Due 2038 |  | 940 |  |  | 1,002 |
KKR Issued 5.500% Notes Due 2043 |  | 2,979 |  |  | 3,127 |
KKR Issued 5.125% Notes Due 2044 |  | 6,736 |  |  | 7,051 |
KKR Issued 3.625% Notes Due 2050 |  | 4,867 |  |  | 5,046 |
KKR Issued 3.500% Notes Due 2050 |  | 7,226 |  |  | 7,487 |
KKR Issued 3.250% Notes Due 2051 |  | 7,824 |  |  | 8,094 |
KKR Issued 4.625% Notes Due 2061 |  | 13,601 |  |  | 13,956 |
KFN Issued 5.500% Notes Due 2032 |  | 4,548 |  |  | 3,378 |
KFN Issued 5.200% Notes Due 2033 |  | 1,243 |  |  | 1,347 |
KFN Issued 5.400% Notes Due 2033 |  | 964 |  |  | 1,043 |
|  | $ | 68,776 |  |  | $ | 61,614 |
(2)These debt obligations are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR's Level III credit investments. (3)KKR consolidates KFN and reports KFN's outstanding $258.5 million aggregate principal amount of junior subordinated notes. The weighted average interest rate is 6.9% and 2.6% and the weighted average years to maturity is 13.8 years and 14.8 years as of December 31, 2022 and December 31, 2021, respectively. (4)The notes are classified as Level II within the fair value hierarchy and fair value is determined by third party broker quotes. (5)The notes are classified as Level I within the fair value hierarchy and fair value is determined by quoted prices in active markets since the debt is publicly listed. (6)As of December 31, 2022 and December 31, 2021, the borrowing outstanding reflects the elimination for the portion of these debt obligations that are held by Global Atlantic. Asset Management Revolving Credit Facilities KCM Short-Term Credit Agreement On April 8, 2022, KKR Capital Markets Holdings L.P. and certain other capital markets subsidiaries (the "KCM Borrowers") entered into a 364-day revolving credit agreement (the "KCM Short-Term Credit Agreement”) with Mizuho Bank, Ltd., as administrative agent, and one or more lenders party thereto. The KCM Short-Term Credit Agreement replaces the prior 364-day revolving credit agreement, dated as of April 9, 2021, between the KCM Borrowers and the administrative agent, and one or more lenders party to the KCM Short-Term Agreement, which was terminated according to its terms on April 8, 2022. The KCM Short-Term Credit Agreement provides for revolving borrowings up to $750 million, expires on April 7, 2023, and ranks pari passu with the existing $750 million revolving credit facility provided by them for KKR's capital markets business (the "KCM Credit Agreement"). If a borrowing is made under the KCM Short-Term Credit Agreement, the interest rate will vary depending on the type of drawdown requested. If the borrowing is (i) denominated in U.S. dollars and a term rate, it will be based on the term Secured Overnight Financing Rate ("SOFR"), (ii) denominated in euros, it will be based on EURIBOR and (iii) denominated in pounds sterling, it will be based on the Sterling Overnight Interbank Average Rate (SONIA), in each case, plus the applicable margin which ranges initially between 1.50% and 2.75%, depending on the duration of the loan. If the borrowing is an ABR Loan, it will be based on the greater of (i) the federal funds rate plus 0.50% and (ii) term SOFR for one-month tenor plus 1.00%, in each case, plus the applicable margin which ranges initially between 0.50% and 1.75% depending on the amount and nature of the loan. Borrowings under the KCM Short-Term Credit Agreement may only be used to facilitate the settlement of debt transactions syndicated by KKR's capital markets business. Obligations under the KCM Short-Term Credit Agreement are limited to the KCM Borrowers, which are solely entities involved in KKR's capital markets business, and liabilities under the KCM Short-Term Credit Agreement are non-recourse to other parts of KKR. The KCM Short-Term Credit Agreement contains customary representations and warranties, events of default, and affirmative and negative covenants, including a financial covenant providing for a maximum debt to equity ratio for the KCM Borrowers. The KCM Borrowers' obligations under the KCM Short-Term Credit Agreement are secured by certain assets of the KCM Borrowers, including a pledge of equity interests of certain subsidiaries of the KCM Borrowers. Asset Management Notes Issued in 2022 KKR Issued Yen Senior Notes On April 26, 2022, KKR Group Finance Co. XI LLC, an indirect subsidiary of KKR & Co. Inc., completed the offering of (i) ¥36.4 billion aggregate principal amount of its 1.054% Senior Notes due 2027 (the “2027 Yen Notes”), (ii) ¥4.9 billion aggregate principal amount of its 1.244% Senior Notes due 2029 (the “2029 Yen Notes”), (iii) ¥6.2 billion aggregate principal amount of its 1.437% Senior Notes due 2032 (the “2032 Yen Notes”), (iv) ¥7.5 billion aggregate principal amount of its 1.553% Senior Notes due 2034 (the “2034 Yen Notes”), and (v) ¥5.5 billion aggregate principal amount of its 1.795% Senior Notes due 2037 (the “2037 Yen Notes” and, together with the 2027 Yen Notes, the 2029 Yen Notes, the 2032 Yen Notes and the 2034 Yen Notes, the “Yen Notes”). The Yen Notes are guaranteed by KKR & Co. Inc. and KKR Group Partnership. Each of the Yen Notes bear interest at the following rates and will mature on the following dates unless earlier redeemed. The 2027 Yen Notes bear interest at a rate of 1.054% per annum and will mature on April 26, 2027. The 2029 Yen Notes bear interest at a rate of 1.244% per annum and will mature on April 26, 2029. The 2032 Yen Notes bear interest at a rate of 1.437% per annum and will mature on April 26, 2032. The 2034 Yen Notes bear interest at a rate of 1.553% per annum and will mature on April 26, 2034. The 2037 Yen Notes bear interest at a rate of 1.795% per annum and will mature on April 24, 2037. Interest on the Yen Notes accrues from April 26, 2022 and is payable semi-annually in arrears on April 26 and October 26 of each year, commencing on October 26, 2022 and ending on the applicable maturity date. The Yen Notes are unsecured and unsubordinated obligations of KKR Group Finance Co. XI LLC. The Yen Notes are fully and unconditionally guaranteed, jointly and severally, by each of the guarantors. The guarantees are unsecured and unsubordinated obligations of the guarantors. The indenture governing the Yen Notes includes covenants, including limitations on KKR Group Finance Co. XI LLC’s and the Guarantors’ ability, subject to exceptions, to incur indebtedness secured by liens on voting stock or profit participating equity interests of their subsidiaries or merge, consolidate or sell, transfer or convey all or substantially all of their assets. The indenture governing the Yen Notes also provides for events of default and further provides that the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding Yen Notes may declare the Yen Notes immediately due and payable upon the occurrence and during the continuance of any event of default after expiration of any applicable grace period. In the case of specified events of bankruptcy, insolvency, receivership or reorganization, the principal amount of the Yen Notes and any accrued and unpaid interest on the Yen Notes automatically become due and payable. KKR Group Finance Co. XI LLC may redeem the Yen Notes at its option, in whole but not in part, at a redemption price equal to 100% of the principal amount of the Yen Notes to be redeemed, together with interest accrued and unpaid to, but excluding, the date fixed for redemption, at any time, in the event of certain changes affecting taxation as provided in the indenture governing the Yen Notes. If a change of control repurchase event occurs, the Yen Notes are subject to repurchase by KKR Group Finance Co. XI LLC at a repurchase price in cash equal to 101% of the aggregate principal amount of the Yen Notes repurchased plus any accrued and unpaid interest on the Yen Notes repurchased to, but not including, the date of repurchase. KKR Issued 4.850% Senior Notes Due 2032 On May 17, 2022, KKR Group Finance Co. XII LLC, an indirect subsidiary of KKR & Co. Inc., issued $750 million aggregate principal amount of its 4.850% Senior Notes due 2032 (the “KKR 2032 Senior Notes”). The KKR 2032 Senior Notes are guaranteed by KKR & Co. Inc. and KKR Group Partnership. The KKR 2032 Senior Notes bear interest at a rate of 4.850% per annum and will mature on May 17, 2032 unless redeemed earlier. Interest on the KKR 2032 Senior Notes accrues from May 17, 2022 and is payable semi-annually in arrears on May 17 and November 17 of each year, commencing on November 17, 2022. The KKR 2032 Senior Notes are unsecured and unsubordinated obligations of the issuer. The KKR 2032 Senior Notes are fully and unconditionally guaranteed, jointly and severally, by each of the guarantors. The guarantees are unsecured and unsubordinated obligations of the guarantors. The indenture governing the KKR 2032 Senior Notes includes covenants, including limitations on the issuer’s and the guarantors’ ability, subject to exceptions, to incur indebtedness secured by liens on voting stock or profit participating equity interests of their subsidiaries or merge, consolidate or sell, transfer or convey all or substantially all of their assets. The indenture governing the KKR 2032 Senior Notes also provides for events of default and further provides that the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding KKR 2032 Senior Notes may declare the KKR 2032 Senior Notes immediately due and payable upon the occurrence and during the continuance of any event of default after expiration of any applicable grace period. In the case of specified events of bankruptcy, insolvency, receivership or reorganization, the principal amount of the KKR 2032 Senior Notes and any accrued and unpaid interest on the KKR 2032 Senior Notes automatically become due and payable. Prior to February 17, 2032 (three months prior to the maturity date of the KKR 2032 Senior Notes), all or a portion of the KKR 2032 Senior Notes may be redeemed at the issuer’s option in whole or in part, at any time and from time to time, prior to their stated maturity, at the make-whole redemption price set forth in the KKR 2032 Senior Notes. On or after February 17, 2032 (three months prior to the maturity date of the KKR 2032 Senior Notes), the KKR 2032 Senior Notes may be redeemed at the issuer’s option in whole or in part, at any time and from time to time, at par plus any accrued and unpaid interest on the KKR 2032 Senior Notes redeemed to, but not including, the date of redemption. If a change of control repurchase event occurs, the KKR 2032 Senior Notes are subject to repurchase by the issuer at a repurchase price in cash equal to 101% of the aggregate principal amount of the KKR 2032 Senior Notes repurchased plus any accrued and unpaid interest on the KKR 2032 Senior Notes repurchased to, but not including, the date of repurchase. KKR Corporate Credit Agreement On September 2, 2022, KKR Group Partnership and Kohlberg Kravis Roberts & Co. L.P. (the "Borrowers") entered into a First Amendment and Lender Joinder Agreement to amend and restate the Second Amended and Restated Credit Agreement, dated as of August 4, 2021 (as amended and restated, the “KKR Corporate Credit Agreement”), by and among the Borrowers, the guarantors from time to time party thereto, the lending institutions from time to time party thereto, and HSBC Bank USA, National Association, as administrative agent. The principal amendments made were to: (i) increase the revolving borrowing limit from $1.0 billion to $1.5 billion, (ii) to replace USD LIBOR rate borrowings with SOFR rate borrowings with certain rate adjustments. Beginning on September 2, 2022, interest on any funded balances will accrue at term SOFR plus a spread ranging from .565% to 1.1%. As of December 31, 2022, there was no revolving borrowings and no letters of credit outstanding under the KKR Corporate Credit Agreement. Other Asset Management Debt Obligations As of December 31, 2022, other debt obligations consisted of the following:
| Financing Available |  | Borrowing Outstanding |  | Fair Value |  | Weighted Average Interest Rate |  | Weighted Average Remaining Maturity in Years
Financing Facilities of Consolidated Funds and Other (1) | $ | 4,837,893 |  |  | $ | 10,560,879 |  |  | $ | 10,376,304 |  |  | 4.9% |  | 5.4
Debt Obligations of Consolidated CLOs | — |  |  | 22,273,242 |  |  | 22,273,242 |  |  | (2) |  | 9.9
| $ | 4,837,893 |  |  | $ | 32,834,121 |  |  | $ | 32,649,546 |  |  |  |  |
(1)Includes borrowings collateralized by fund investments, fund co-investments and other assets held by levered investment vehicles of $2.3 billion. (2)The senior notes of the consolidated CLOs had a weighted average interest rate of 4.8%. The subordinated notes of the consolidated CLOs do not have contractual interest rates but instead receive a pro rata amount of the net distributions from the excess cash flows of the respective CLO vehicle. Accordingly, weighted average borrowing rates for the subordinated notes are based on cash distributions during the period, if any. Debt obligations of consolidated CLOs are collateralized by assets held by each respective CLO vehicle and assets of one CLO vehicle may not be used to satisfy the liabilities of another. As of December 31, 2022, the fair value of the consolidated CLO assets was $23.6 billion. This collateral consisted of Cash and Cash Equivalents, Investments, and Other Assets. Insurance Debt Obligations Global Atlantic's debt obligations consisted of the following:
| December 31, 2022 |  | December 31, 2021
| Financing Available |  | Borrowing Outstanding |  | Fair Value(2) |  | Financing Available |  | Borrowing Outstanding |  | Fair Value(2)
Revolving Credit Facilities: |  |  |  |  |  |  |  |  |  |  |
Global Atlantic revolving credit facility, due August 2026 | $ | 600,000 |  |  | $ | 400,000 |  |  | $ | 400,000 |  |  | $ | 1,000,000 |  |  | $ | — |  |  | $ | — |
Notes Issued and Others: |  |  |  |  |  |  |  |  |  |  |
Global Atlantic senior notes, due October 2029 |  |  | 500,000 |  |  | 419,550 |  |  |  |  | 500,000 |  |  | 539,350 |
Global Atlantic senior notes, due June 2031 |  |  | 650,000 |  |  | 478,335 |  |  |  |  | 650,000 |  |  | 644,800 |
Global Atlantic subordinated debentures, due October 2051 |  |  | 750,000 |  |  | 572,475 |  |  |  |  | 750,000 |  |  | 761,475 |
|  |  | 2,300,000 |  |  | $ | 1,870,360 |  |  |  |  | 1,900,000 |  |  | $ | 1,945,625 |
Purchase accounting adjustments(1) |  |  | 43,285 |  |  |  |  |  |  | 51,050 |  |  |
Debt issuance costs, net of accumulated amortization |  |  | (17,623) |  |  |  |  |  |  | (18,675) |  |  |
Fair value loss (gain) of hedged debt obligations, recognized in earnings |  |  | (197,496) |  |  |  |  |  |  | (24,369) |  |  |
|  |  | $ | 2,128,166 |  |  |  |  |  |  | $ | 1,908,006 |  |  |
(1)For the years ended December 31, 2022 and 2021, the amortization of the purchase accounting adjustments was $7.8 million and $4.9 million, respectively. (2)These debt obligations are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR's Level III credit investments. Global Atlantic Credit Agreement Global Atlantic (Fin) Company ("GA FinCo") and Global Atlantic Financial Limited ("GAFL") are both wholly-owned indirect subsidiaries of TGAFG, the holding company for the Global Atlantic business. On August 4, 2021, GA FinCo, as borrower, and GAFL, as guarantor, entered into a Credit Agreement (the "GA Credit Agreement") with Wells Fargo Bank, N.A., as administrative agent, and other lenders thereto. The GA Credit Agreement provides for up to $1.0 billion of revolving borrowings (with the option to request an increase of up to an additional $250 million), including up to $500 million of letters of credit, and has a maturity of August 2026. On September 23, 2022, GA FinCo amended the GA Credit Agreement with Wells Fargo Bank, N.A., as administrative agent, and other lenders thereto. The principal amendments made were to replace LIBOR based interest rates with interest rates based on term SOFR with certain rate adjustments. Beginning on September 30, 2022, interest on any funded balances will accrue at term SOFR plus a spread ranging from 1.225% to 2.100%. As of December 31, 2022, there was $400 million in revolving borrowings outstanding and no letters of credit outstanding under the GA Credit Agreement. Debt Covenants Borrowings of KKR (including Global Atlantic) contain various debt covenants. These covenants do not, in management's opinion, materially restrict KKR's operating business or investment strategies as of December 31, 2022. KKR (including Global Atlantic) was in compliance with such debt covenants in all material respects as of December 31, 2022.
Scheduled principal payments for Asset Management debt obligations at December 31, 2022 are as follows:
| Revolving Credit Facilities |  | Notes Issued |  | Other Debt Obligations |  | Total
2023 | — |  |  | 189,500 |  |  | 2,756,745 |  |  | 2,946,245 |
2024 | — |  |  | — |  |  | 637,288 |  |  | 637,288 |
2025 | — |  |  | 37,900 |  |  | 263,168 |  |  | 301,068 |
2026 | — |  |  | — |  |  | 763,592 |  |  | 763,592 |
2027 | — |  |  | 275,912 |  |  | 217,206 |  |  | 493,118 |
Thereafter | — |  |  | 7,368,568 |  |  | 29,470,796 |  |  | 36,839,364 |
| $ | — |  |  | $ | 7,871,880 |  |  | $ | 34,108,795 |  |  | $ | 41,980,675 |
Scheduled principal payments for Insurance debt obligations at December 31, 2022 are as follows:
| Revolving Credit Facilities |  | Notes Issued |  | Other Debt Obligations |  | Total
2023 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
2024 | — |  |  | — |  |  | — |  |  | — |
2025 | — |  |  | — |  |  | — |  |  | — |
2026 | 400,000 |  |  | — |  |  | — |  |  | 400,000 |
2027 | — |  |  | — |  |  | — |  |  | — |
Thereafter | — |  |  | 1,900,000 |  |  | — |  |  | 1,900,000 |
| $ | 400,000 |  |  | $ | 1,900,000 |  |  | $ | — |  |  | $ | 2,300,000 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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