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SEGMENT REPORTING (Tables)
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Information Regarding Segment Results and Reconciliations
The following tables set forth information regarding KKR's segment results:
For the Years Ended December 31,
202220212020
Asset Management
Management Fees (1)
$2,656,487 $2,071,440 $1,441,578 
Transaction and Monitoring Fees, Net775,933 1,004,241 632,433 
Fee Related Performance Revenues90,665 45,852 39,555 
Fee Related Compensation(769,735)(702,387)(486,481)
Other Operating Expenses(585,999)(449,155)(346,558)
Fee Related Earnings2,167,351 1,969,991 1,280,527 
Realized Performance Income2,176,658 2,141,596 1,165,699 
Realized Performance Income Compensation(1,333,526)(1,239,177)(697,071)
Realized Investment Income (2)
1,134,419 1,613,244 644,659 
Realized Investment Income Compensation(159,003)(241,994)(106,830)
Asset Management Segment Operating Earnings$3,985,899 $4,243,660 $2,286,984 
Insurance
Net Investment Income (1) (2)
$4,112,244 $3,329,570 $— 
Net Cost of Insurance(2,415,996)(1,566,681)— 
General, Administrative and Other(637,718)(500,410)— 
  Pre-tax Insurance Operating Earnings1,058,530 1,262,479 — 
Income Taxes(171,744)(199,095)— 
Net Income Attributable to Noncontrolling Interest(341,582)(410,833)— 
Insurance Segment Operating Earnings$545,204 $652,551 $— 
Total Segment Operating Earnings$4,531,103 $4,896,211 $2,286,984 
(1) Includes intersegment management fees of $301.3 million and $158.7 million for the years ended December 31, 2022 and 2021, respectively.
(2) Includes intersegment interest expense and income of $145.3 million and $31.0 million for the years ended December 31, 2022 and 2021, respectively.
As of December 31,
20222021
Segment Assets:
  Asset Management$30,373,666 $32,306,254 
  Insurance173,442,519 166,553,187 
Total Segment Assets$203,816,185 $198,859,441 
For the Years Ended December 31,
Noncash expenses excluded from Segment Operating Earnings202220212020
Equity Based Compensation and Other
  Asset Management$449,685 $261,330 $246,395 
  Insurance152,083 95,344 — 
Total Non-cash expenses $601,768 $356,674 $246,395 
The following tables reconcile the Segment Revenues, Segment Operating Earnings, and Segment Assets to their equivalent GAAP measure:
For the Years Ended December 31,
202220212020
Total GAAP Revenues$5,721,195 $16,236,148 $4,230,891 
Impact of Consolidation and Other841,711 808,174 461,244 
Asset Management Adjustments:
Capital Allocation-Based Income (Loss) (GAAP)2,500,509 (6,842,414)(2,224,100)
Realized Carried Interest1,993,860 1,752,130 1,042,204 
Realized Investment Income1,134,419 1,613,244 644,659 
Capstone Fees(86,665)(91,407)(81,452)
Expense Reimbursements(102,927)(178,572)(149,522)
Insurance Adjustments:
Net Premiums(1,182,461)(2,226,078)— 
Policy Fees(1,278,736)(1,147,913)— 
Other Income(139,124)(120,213)— 
Investment Gains and Losses 472,053 544,357 — 
Derivative Gains and Losses 1,072,572 (141,513)— 
Total Segment Revenues (1)
$10,946,406 $10,205,943 $3,923,924 
(1)Total Segment Revenues is comprised of (i) Management Fees, (ii) Transaction and Monitoring Fees, Net, (iii) Fee Related Performance Revenues, (iv) Realized Performance Income, (v) Realized Investment Income, and (vi) Net Investment Income.
For the Years Ended December 31,
202220212020
Income (Loss) Before Tax (GAAP)$(1,059,200)$13,648,449 $5,726,695 
Impact of Consolidation and Other (84,554)(5,165,795)(1,696,897)
Interest Expense315,189 250,183 211,037 
Equity-based compensation - KKR Holdings(1)
119,834 161,283 80,739 
Asset Management Adjustments:
Net Unrealized (Gains) Losses2,002,082 (2,590,280)(1,697,740)
Unrealized Carried Interest4,231,359 (4,043,135)(1,070,803)
Unrealized Carried Interest Compensation (Carry Pool)(1,753,396)1,751,912 467,485 
Strategic Corporate Transaction-Related Charges(2)
94,629 25,153 20,073 
Equity-based compensation210,756 183,100 236,199 
Equity-based compensation - Performance based238,929 78,230 10,196 
Insurance Adjustments:(3)
Net (Gains) Losses from Investments and Derivatives 192,743 658,975 — 
Strategic Corporate Transaction-Related Charges 24,746 25,711 — 
Equity-based and Other Compensation 152,083 95,344 — 
Amortization of Acquired Intangibles 17,647 16,176 — 
Income Taxes(171,744)(199,095)— 
Total Segment Operating Earnings$4,531,103 $4,896,211 $2,286,984 
(1)Represents equity-based compensation expense in connection with the allocation of units of KKR Holdings, which were not dilutive to common stockholders of KKR & Co. Inc.
(2)For the year ended December 31, 2022, strategic corporate transaction-related charges include a $40.7 million realized loss from foreign exchange derivatives that were entered in connection with the acquisition of KJRM and that were settled upon closing in the second quarter of 2022.
(3)Amounts include the portion allocable to noncontrolling interests.
As of
December 31, 2022December 31, 2021
Total GAAP Assets$277,077,191 $264,285,440 
Impact of Consolidation and Reclassifications(71,388,438)(61,775,687)
Carry Pool Reclassifications(1,872,568)(3,650,312)
Total Segment Assets$203,816,185 $198,859,441