XML 72 R33.htm IDEA: XBRL DOCUMENT
v3.23.2

EQUITY AND REDEEMABLE INTEREST (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Stockholders' Equity Note [Abstract] |
Schedule of Stock by Class | The following table presents the changes in each class of common stock:
| Class A Common Stock |  | Non-Voting Common Stock |  | Class B Common Stock |  | Class C Common Stock |  | Total
Balance - December 31, 2022 | 173,892,036 |  |  | 3,489,911 |  |  | 1,000 |  |  | 117,231,288 |  |  | 294,614,235 |
Issuance of stock | 1,391,426 |  |  | — |  |  | — |  |  | — |  |  | 1,391,426 |
Issuance of AOG Units(1) | — |  |  | — |  |  | — |  |  | 3,473,026 |  |  | 3,473,026 |
Exchanges of AOG Units | 1,029,993 |  |  | — |  |  | — |  |  | (1,029,993) |  |  | — |
Stock option exercises, net of shares withheld for tax | 2,972,093 |  |  | — |  |  | — |  |  | — |  |  | 2,972,093 |
Vesting of restricted stock awards, net of shares withheld for tax | 1,946,260 |  |  | — |  |  | — |  |  | — |  |  | 1,946,260 |
Balance - June 30, 2023 | 181,231,808 |  |  | 3,489,911 |  |  | 1,000 |  |  | 119,674,321 |  |  | 304,397,040 |
(1) Represents issuance of AOG Units to the recipients of the management incentive program from the acquisition of Black Creek Group’s real estate investment advisory and distribution business (the “Black Creek Acquisition”), which relieved the associated liability following the maximum contingent payment being met as of December 31, 2022. Pursuant to an agreement with the recipients of the Black Creek Acquisition management incentive program, a portion of such AOG Units were issued in lieu of cash consideration which was payable pursuant to the Black Creek Acquisition management incentive program. Issuances of Class C Common stock corresponds with increases in Ares Owners Holdings L.P.’s ownership interest in the AOG entities.
Schedule of Ownership Interests | The following table presents each partner’s AOG Units and corresponding ownership interest in each of the Ares Operating Group entities, as well as its daily average ownership of AOG Units in each of the Ares Operating Group entities:
|  |  |  |  |  |  |  |  |  | Daily Average Ownership
|  | As of June 30, 2023 |  | As of December 31, 2022 |  | Three months ended June 30, |  | Six months ended June 30,
|  | AOG Units |  | Direct Ownership Interest |  | AOG Units |  | Direct Ownership Interest |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |
Ares Management Corporation |  | 184,721,719 |  |  | 60.68 | % |  | 177,381,947 |  |  | 60.21 | % |  | 60.37 | % |  | 59.66 | % |  | 60.25 | % |  | 59.58 | % |  |  |
Ares Owners Holdings, L.P. |  | 119,674,321 |  |  | 39.32 |  |  | 117,231,288 |  |  | 39.79 |  |  | 39.63 |  |  | 40.34 |  |  | 39.75 |  |  | 40.42 |  |  |  |
Total |  | 304,396,040 |  |  | 100.00 | % |  | 294,613,235 |  |  | 100.00 | % |  |  |  |  |  |  |  |  |  |  |
Schedule of Redeemable Interests | The following table summarizes the activities associated with the redeemable interest in Ares Operating Group entities:
| Total
Balance - December 31, 2021 | $ | 96,008 |
Changes in ownership interests and related tax benefits | 231 |
Net income | 399 |
Currency translation adjustment, net of tax | (331) |
Equity compensation | 48 |
Distributions | (8) |
Balance - March 31, 2022 | 96,347 |
Changes in ownership interests and related tax benefits | (1,445) |
Net loss | (457) |
Currency translation adjustment, net of tax | (996) |
Equity compensation | 77 |
Distributions | (8) |
Balance - June 30, 2022 | 93,518 |
Changes in ownership interests and related tax benefits | 1,214 |
Net income | 93 |
Currency translation adjustment, net of tax | (933) |
Equity compensation | 77 |
Distributions | (1,861) |
Balance - September 30, 2022 | 92,108 |
Net loss | (886) |
Currency translation adjustment, net of tax | 1,834 |
Equity compensation | 83 |
Distribution | (10) |
Balance - December 31, 2022 | 93,129 |
Changes in ownership interests and related tax benefits | (66,506) |
Net loss | (1,824) |
Currency translation adjustment, net of tax | (148) |
Equity compensation | 174 |
Distributions | (2,883) |
Balance - March 31, 2023 | 21,942 |
Net income | 734 |
Currency translation adjustment, net of tax | (159) |
Balance- June 30, 2023 | $ | 22,517 |
The following table summarizes the activities associated with the redeemable interest in Consolidated Funds:
| Total
Balance - December 31, 2021 | $ | 1,000,000 |
Change in redemption value | — |
Balance - March 31, 2022 | 1,000,000 |
Change in redemption value | — |
Balance - June 30, 2022 | 1,000,000 |
Change in redemption value | 4,994 |
Balance - September 30, 2022 | 1,004,994 |
Change in redemption value | 8,288 |
Balance - December 31, 2022 | 1,013,282 |
Change in redemption value | 10,504 |
Redemption | (538,985) |
Balance - March 31, 2023 | 484,801 |
Gross proceeds from the initial public offering of AAC II | 500,000 |
Change in redemption value | 15,948 |
Balance - June 30, 2023 | $ | 1,000,749 |

X
- Definition Tabular disclosure of other units or shares or classes of ownership in a partnership. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 5 -Subparagraph (SAB TOPIC 4.F) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-5 + Details
Name: | us-gaap_ScheduleOfOtherOwnershipInterestsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-4 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-5 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481142/505-10-45-2 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-10 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480244/480-10-S99-1 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-6 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfStockByClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480244/480-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (27) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_TemporaryEquityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration