XML 74 R35.htm IDEA: XBRL DOCUMENT
v3.23.2

CONSOLIDATION (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Condensed Financial Information Disclosure [Abstract] |
Schedule of Interest in VIEs | The Company’s interests in consolidated and non-consolidated VIEs, as presented within the Condensed Consolidated Statements of Financial Condition, its respective maximum exposure to loss relating to non-consolidated VIEs, and its net income attributable to non-controlling interests related to consolidated VIEs, as presented within the Condensed Consolidated Statements of Operations, are as follows:
| As of June 30, |  | As of December 31,
| 2023 |  | 2022
Maximum exposure to loss attributable to the Company’s investment in non-consolidated VIEs(1) | $ | 410,725 |  |  | $ | 393,549 |
Maximum exposure to loss attributable to the Company’s investment in consolidated VIEs(1) | 786,662 |  |  | 537,239 |
Assets of consolidated VIEs | 14,186,814 |  |  | 13,128,088 |
Liabilities of consolidated VIEs | 12,443,170 |  |  | 11,593,867 |
(1)As of June 30, 2023 and December 31, 2022, the Company’s maximum exposure of loss for CLO securities was equal to the cumulative fair value of our capital interest in CLOs and totaled $77.9 million and $82.0 million, respectively.
| Three months ended June 30, |  | Six months ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |
Net income (loss) attributable to non-controlling interests related to consolidated VIEs | $ | 63,461 |  |  | $ | (18,725) |  |  | $ | 100,592 |  |  | $ | 19,737 |  |  |
Schedule of Consolidating Effects of the Consolidated Funds on the Company's Financial Condition | The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Company’s financial condition, results from operations and cash flows:
| As of June 30, 2023
| Consolidated Company Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 276,827 |  |  | $ | — |  |  | $ | — |  |  | $ | 276,827 |
Investments (includes $3,524,644 of accrued carried interest) | 5,272,838 |  |  | — |  |  | (806,612) |  |  | 4,466,226 |
Due from affiliates | 766,101 |  |  | — |  |  | (122,657) |  |  | 643,444 |
Other assets | 252,646 |  |  | — |  |  | — |  |  | 252,646 |
Right-of-use operating lease assets | 170,911 |  |  | — |  |  | — |  |  | 170,911 |
Intangible assets, net | 1,130,673 |  |  | — |  |  | — |  |  | 1,130,673 |
Goodwill | 998,020 |  |  | — |  |  | — |  |  | 998,020 |
Assets of Consolidated Funds |  |  |  |  |  |  |
Cash and cash equivalents | — |  |  | 812,164 |  |  | — |  |  | 812,164 |
Investments held in trust account | — |  |  | 1,000,949 |  |  | — |  |  | 1,000,949 |
Investments, at fair value | — |  |  | 13,090,939 |  |  | — |  |  | 13,090,939 |
Due from affiliates | — |  |  | 22,432 |  |  | (11,044) |  |  | 11,388 |
Receivable for securities sold | — |  |  | 197,729 |  |  | — |  |  | 197,729 |
Other assets | — |  |  | 66,890 |  |  | — |  |  | 66,890 |
Total assets | $ | 8,868,016 |  |  | $ | 15,191,103 |  |  | $ | (940,313) |  |  | $ | 23,118,806 |
Liabilities |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 278,207 |  |  | $ | — |  |  | $ | (11,009) |  |  | $ | 267,198 |
Accrued compensation | 250,790 |  |  | — |  |  | — |  |  | 250,790 |
Due to affiliates | 192,153 |  |  | — |  |  | — |  |  | 192,153 |
Performance related compensation payable | 2,579,564 |  |  | — |  |  | — |  |  | 2,579,564 |
Debt obligations | 2,299,731 |  |  | — |  |  | — |  |  | 2,299,731 |
Operating lease liabilities | 206,816 |  |  | — |  |  | — |  |  | 206,816 |
Liabilities of Consolidated Funds |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | — |  |  | 237,560 |  |  | (12,266) |  |  | 225,294 |
Due to affiliates | — |  |  | 123,612 |  |  | (122,692) |  |  | 920 |
Payable for securities purchased | — |  |  | 554,555 |  |  | — |  |  | 554,555 |
CLO loan obligations, at fair value | — |  |  | 11,557,946 |  |  | (96,947) |  |  | 11,460,999 |
Fund borrowings | — |  |  | 65,050 |  |  | — |  |  | 65,050 |
Total liabilities | 5,807,261 |  |  | 12,538,723 |  |  | (242,914) |  |  | 18,103,070 |
Commitments and contingencies |  |  |  |  |  |  |
Redeemable interest in Consolidated Funds | — |  |  | 1,000,749 |  |  | — |  |  | 1,000,749 |
Redeemable interest in Ares Operating Group entities | 22,517 |  |  | — |  |  | — |  |  | 22,517 |
Non-controlling interest in Consolidated Funds | — |  |  | 1,651,631 |  |  | (680,322) |  |  | 971,309 |
Non-controlling interest in Ares Operating Group entities | 1,277,871 |  |  | — |  |  | (6,714) |  |  | 1,271,157 |
Stockholders’ Equity |  |  |  |  |  |  |
Class A common stock, $0.01 par value, 1,500,000,000 shares authorized (181,231,808 shares issued and outstanding) | 1,812 |  |  | — |  |  | — |  |  | 1,812 |
Non-voting common stock, $0.01 par value, 500,000,000 shares authorized (3,489,911 shares issued and outstanding) | 35 |  |  | — |  |  | — |  |  | 35 |
Class B common stock, $0.01 par value, 1,000 shares authorized (1,000 shares issued and outstanding) | — |  |  | — |  |  | — |  |  | — |
Class C common stock, $0.01 par value, 499,999,000 shares authorized (119,674,321 shares issued and outstanding) | 1,197 |  |  | — |  |  | — |  |  | 1,197 |
Additional paid-in-capital | 2,192,536 |  |  | — |  |  | (10,363) |  |  | 2,182,173 |
Accumulated deficit | (425,526) |  |  | — |  |  | — |  |  | (425,526) |
Accumulated other comprehensive loss, net of tax | (9,687) |  |  | — |  |  | — |  |  | (9,687) |
Total stockholders’ equity | 1,760,367 |  |  | — |  |  | (10,363) |  |  | 1,750,004 |
Total equity | 3,038,238 |  |  | 1,651,631 |  |  | (697,399) |  |  | 3,992,470 |
Total liabilities, redeemable interest, non-controlling interests and equity | $ | 8,868,016 |  |  | $ | 15,191,103 |  |  | $ | (940,313) |  |  | $ | 23,118,806 |
| As of December 31, 2022
| Consolidated Company Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 389,987 |  |  | $ | — |  |  | $ | — |  |  | $ | 389,987 |
Investments (includes $3,106,577 of accrued carried interest) | 4,515,955 |  |  | — |  |  | (541,221) |  |  | 3,974,734 |
Due from affiliates | 949,532 |  |  | — |  |  | (191,060) |  |  | 758,472 |
Other assets | 381,137 |  |  | — |  |  | — |  |  | 381,137 |
Right-of-use operating lease assets | 155,950 |  |  | — |  |  | — |  |  | 155,950 |
Intangible assets, net | 1,208,220 |  |  | — |  |  | — |  |  | 1,208,220 |
Goodwill | 999,656 |  |  | — |  |  | — |  |  | 999,656 |
Assets of Consolidated Funds |  |  |  |  |  |  |
Cash and cash equivalents | — |  |  | 724,641 |  |  | — |  |  | 724,641 |
Investments held in trust account | — |  |  | 1,013,382 |  |  | — |  |  | 1,013,382 |
Investments, at fair value | — |  |  | 12,187,392 |  |  | 3,859 |  |  | 12,191,251 |
Due from affiliates | — |  |  | 26,531 |  |  | (10,742) |  | 15,789 |
Receivable for securities sold | — |  |  | 124,050 |  |  | — |  | 124,050 |
Other assets | — |  |  | 65,570 |  |  | — |  | 65,570 |
Total assets | $ | 8,600,437 |  |  | $ | 14,141,566 |  |  | $ | (739,164) |  |  | $ | 22,002,839 |
Liabilities |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 242,663 |  |  | $ | — |  |  | $ | (10,742) |  |  | $ | 231,921 |
Accrued compensation | 510,130 |  |  | — |  |  | — |  |  | 510,130 |
Due to affiliates | 252,798 |  |  | — |  |  | — |  |  | 252,798 |
Performance related compensation payable | 2,282,209 |  |  | — |  |  | — |  |  | 2,282,209 |
Debt obligations | 2,273,854 |  |  | — |  |  | — |  |  | 2,273,854 |
Operating lease liabilities | 190,616 |  |  | — |  |  | — |  |  | 190,616 |
Liabilities of Consolidated Funds |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | — |  |  | 175,435 |  |  | (7,149) |  |  | 168,286 |
Due to affiliates | — |  |  | 191,238 |  |  | (187,201) |  |  | 4,037 |
Payable for securities purchased | — |  |  | 314,193 |  |  | — |  |  | 314,193 |
CLO loan obligations, at fair value | — |  |  | 10,797,332 |  |  | (95,612) |  |  | 10,701,720 |
Fund borrowings | — |  |  | 168,046 |  |  | — |  |  | 168,046 |
Total liabilities | 5,752,270 |  |  | 11,646,244 |  |  | (300,704) |  |  | 17,097,810 |
Commitments and contingencies |  |  |  |  |  |  |
Redeemable interest in Consolidated Funds | — |  |  | 1,013,282 |  |  | — |  |  | 1,013,282 |
Redeemable interest in Ares Operating Group entities | 93,129 |  |  | — |  |  | — |  |  | 93,129 |
Non-controlling interest in Consolidated Funds | — |  |  | 1,482,040 |  |  | (407,684) |  |  | 1,074,356 |
Non-controlling interest in Ares Operating Group entities | 1,147,269 |  |  | — |  |  | (12,246) |  |  | 1,135,023 |
Stockholders’ Equity |  |  |  |  |  |  |
Class A common stock, $0.01 par value, 1,500,000,000 shares authorized (173,892,036 shares issued and outstanding) | 1,739 |  |  | — |  |  | — |  |  | 1,739 |
Non-voting common stock, $0.01 par value, 500,000,000 shares authorized (3,489,911 shares issued and outstanding) | 35 |  |  | — |  |  | — |  |  | 35 |
Class B common stock, $0.01 par value, 1,000 shares authorized ($1,000 shares issued and outstanding) | — |  |  | — |  |  | — |  |  | — |
Class C common stock, $0.01 par value, 499,999,000 shares authorized (117,231,288 shares issued and outstanding) | 1,172 |  |  | — |  |  | — |  |  | 1,172 |
Additional paid-in-capital | 1,989,284 |  |  | — |  |  | (18,530) |  |  | 1,970,754 |
Accumulated deficit | (369,475) |  |  | — |  |  | — |  |  | (369,475) |
Accumulated other comprehensive loss, net of tax | (14,986) |  |  | — |  |  | — |  |  | (14,986) |
Total stockholders’ equity | 1,607,769 |  |  | — |  |  | (18,530) |  |  | 1,589,239 |
Total equity | 2,755,038 |  |  | 1,482,040 |  |  | (438,460) |  |  | 3,798,618 |
Total liabilities, redeemable interest, non-controlling interests and equity | $ | 8,600,437 |  |  | $ | 14,141,566 |  |  | $ | (739,164) |  |  | $ | 22,002,839 |
Schedule of Results from Operations |
| Three months ended June 30, 2023
| Consolidated Company Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |
Management fees | $ | 627,276 |  |  | $ | — |  |  | $ | (12,005) |  |  | $ | 615,271 |
Carried interest allocation | 422,412 |  |  | — |  |  | (3,946) |  |  | 418,466 |
Incentive fees | 7,950 |  |  | — |  |  | — |  |  | 7,950 |
Principal investment income | 65,242 |  |  | — |  |  | (58,354) |  |  | 6,888 |
Administrative, transaction and other fees | 46,846 |  |  | — |  |  | (2,135) |  |  | 44,711 |
Total revenues | 1,169,726 |  |  | — |  |  | (76,440) |  |  | 1,093,286 |
Expenses |  |  |  |  |  |  |
Compensation and benefits | 367,550 |  |  | — |  |  | — |  |  | 367,550 |
Performance related compensation | 315,780 |  |  | — |  |  | — |  |  | 315,780 |
General, administrative and other expense | 141,184 |  |  | — |  |  | (31) |  |  | 141,153 |
Expenses of the Consolidated Funds | — |  |  | 25,395 |  |  | (12,140) |  |  | 13,255 |
Total expenses | 824,514 |  |  | 25,395 |  |  | (12,171) |  |  | 837,738 |
Other income (expense) |  |  |  |  |  |  |
Net realized and unrealized gains (losses) on investments | (4,555) |  |  | — |  |  | 10,036 |  |  | 5,481 |
Interest and dividend income | 5,487 |  |  | — |  |  | (2,797) |  |  | 2,690 |
Interest expense | (25,839) |  |  | — |  |  | — |  |  | (25,839) |
Other expense, net | (6,098) |  |  | — |  |  | 211 |  |  | (5,887) |
Net realized and unrealized gains on investments of the Consolidated Funds | — |  |  | 96,288 |  |  | 2,138 |  |  | 98,426 |
Interest and other income of the Consolidated Funds | — |  |  | 234,665 |  |  | (211) |  |  | 234,454 |
Interest expense of the Consolidated Funds | — |  |  | (184,019) |  |  | 1,115 |  |  | (182,904) |
Total other income (expense), net | (31,005) |  |  | 146,934 |  |  | 10,492 |  |  | 126,421 |
Income before taxes | 314,207 |  |  | 121,539 |  |  | (53,777) |  |  | 381,969 |
Income tax expense | 49,633 |  |  | 81 |  |  | — |  |  | 49,714 |
Net income | 264,574 |  |  | 121,458 |  |  | (53,777) |  |  | 332,255 |
Less: Net income attributable to non-controlling interests in Consolidated Funds | — |  |  | 121,458 |  |  | (53,777) |  |  | 67,681 |
Net income attributable to Ares Operating Group entities | 264,574 |  |  | — |  |  | — |  |  | 264,574 |
Less: Net income attributable to redeemable interest in Ares Operating Group entities | 734 |  |  | — |  |  | — |  |  | 734 |
Less: Net income attributable to non-controlling interests in Ares Operating Group entities | 119,326 |  |  | — |  |  | — |  |  | 119,326 |
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders | $ | 144,514 |  |  | $ | — |  |  | $ | — |  |  | $ | 144,514 |
| Three months ended June 30, 2022
| Consolidated Company Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |
Management fees | $ | 531,922 |  |  | $ | — |  |  | $ | (11,362) |  |  | $ | 520,560 |
Carried interest allocation | 47,304 |  |  | — |  |  | — |  |  | 47,304 |
Incentive fees | 4,675 |  |  | — |  |  | — |  |  | 4,675 |
Principal investment income (loss) | 13,493 |  |  | — |  |  | (17,880) |  |  | (4,387) |
Administrative, transaction and other fees | 37,593 |  |  | — |  |  | (4,315) |  |  | 33,278 |
Total revenues | 634,987 |  |  | — |  |  | (33,557) |  |  | 601,430 |
Expenses |  |  |  |  |  |  |
Compensation and benefits | 375,775 |  |  | — |  |  | — |  |  | 375,775 |
Performance related compensation | 41,073 |  |  | — |  |  | — |  |  | 41,073 |
General, administrative and other expense | 122,793 |  |  | — |  |  | (227) |  |  | 122,566 |
Expenses of the Consolidated Funds | — |  |  | 24,865 |  |  | (11,411) |  |  | 13,454 |
Total expenses | 539,641 |  |  | 24,865 |  |  | (11,638) |  |  | 552,868 |
Other income (expense) |  |  |  |  |  |  |
Net realized and unrealized losses on investments | (10,433) |  |  | — |  |  | 8,658 |  |  | (1,775) |
Interest and dividend income | 8,375 |  |  | — |  |  | (6,899) |  |  | 1,476 |
Interest expense | (17,221) |  |  | — |  |  | — |  |  | (17,221) |
Other income, net | 5,998 |  |  | — |  |  | (189) |  |  | 5,809 |
Net realized and unrealized losses on investments of the Consolidated Funds | — |  |  | (6,806) |  |  | (1,101) |  |  | (7,907) |
Interest and other income of the Consolidated Funds | — |  |  | 117,186 |  |  | 189 |  |  | 117,375 |
Interest expense of the Consolidated Funds | — |  |  | (82,810) |  |  | 3,557 |  |  | (79,253) |
Total other income (expense), net | (13,281) |  |  | 27,570 |  |  | 4,215 |  |  | 18,504 |
Income before taxes | 82,065 |  |  | 2,705 |  |  | (17,704) |  |  | 67,066 |
Income tax expense | 13,437 |  |  | 23 |  |  | — |  |  | 13,460 |
Net income | 68,628 |  |  | 2,682 |  |  | (17,704) |  |  | 53,606 |
Less: Net income (loss) attributable to non-controlling interests in Consolidated Funds | — |  |  | 2,682 |  |  | (17,704) |  |  | (15,022) |
Net income attributable to Ares Operating Group entities | 68,628 |  |  | — |  |  | — |  |  | 68,628 |
Less: Net loss attributable to redeemable interest in Ares Operating Group entities | (457) |  |  | — |  |  | — |  |  | (457) |
Less: Net income attributable to non-controlling interests in Ares Operating Group entities | 29,354 |  |  | — |  |  | — |  |  | 29,354 |
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders | $ | 39,731 |  |  | $ | — |  |  | $ | — |  |  | $ | 39,731 |
| Six months ended June 30, 2023
| Consolidated Company Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |
Management fees | $ | 1,239,393 |  |  | $ | — |  |  | $ | (23,606) |  |  | $ | 1,215,787 |
Carried interest allocation | 577,307 |  |  | — |  |  | (7,353) |  |  | 569,954 |
Incentive fees | 17,011 |  |  | — |  |  | (138) |  |  | 16,873 |
Principal investment income | 100,699 |  |  | — |  |  | (71,053) |  |  | 29,646 |
Administrative, transaction and other fees | 81,366 |  |  | — |  |  | (6,978) |  |  | 74,388 |
Total revenues | 2,015,776 |  |  | — |  |  | (109,128) |  |  | 1,906,648 |
Expenses |  |  |  |  |  |  |
Compensation and benefits | 728,331 |  |  | — |  |  | — |  |  | 728,331 |
Performance related compensation | 427,438 |  |  | — |  |  | — |  |  | 427,438 |
General, administrative and other expense | 289,872 |  |  | — |  |  | (374) |  |  | 289,498 |
Expenses of the Consolidated Funds | — |  |  | 45,036 |  |  | (23,929) |  |  | 21,107 |
Total expenses | 1,445,641 |  |  | 45,036 |  |  | (24,303) |  |  | 1,466,374 |
Other income (expense) |  |  |  |  |  |  |
Net realized and unrealized gains on investments | 3,297 |  |  | — |  |  | 3,699 |  |  | 6,996 |
Interest and dividend income | 12,663 |  |  | — |  |  | (6,134) |  |  | 6,529 |
Interest expense | (50,825) |  |  | — |  |  | — |  |  | (50,825) |
Other expense, net | (7,112) |  |  | — |  |  | 302 |  |  | (6,810) |
Net realized and unrealized gains on investments of the Consolidated Funds | — |  |  | 94,219 |  |  | 14,907 |  |  | 109,126 |
Interest and other income of the Consolidated Funds | — |  |  | 457,694 |  |  | (302) |  |  | 457,392 |
Interest expense of the Consolidated Funds | — |  |  | (342,062) |  |  | 2,471 |  |  | (339,591) |
Total other income (expense), net | (41,977) |  |  | 209,851 |  |  | 14,943 |  |  | 182,817 |
Income before taxes | 528,158 |  |  | 164,815 |  |  | (69,882) |  |  | 623,091 |
Income tax expense | 82,961 |  |  | 559 |  |  | — |  |  | 83,520 |
Net income | 445,197 |  |  | 164,256 |  |  | (69,882) |  |  | 539,571 |
Less: Net income attributable to non-controlling interests in Consolidated Funds | — |  |  | 164,256 |  |  | (69,882) |  |  | 94,374 |
Net income attributable to Ares Operating Group entities | 445,197 |  |  | — |  |  | — |  |  | 445,197 |
Less: Net loss attributable to redeemable interest in Ares Operating Group entities | (1,090) |  |  | — |  |  | — |  |  | (1,090) |
Less: Net income attributable to non-controlling interests in Ares Operating Group entities | 207,734 |  |  | — |  |  | — |  |  | 207,734 |
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders | $ | 238,553 |  |  | $ | — |  |  | $ | — |  |  | $ | 238,553 |
| Six months ended June 30, 2022
| Consolidated Company Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
Revenues |  |  |  |  |  |  |
Management fees | $ | 1,020,733 |  |  | $ | — |  |  | $ | (22,841) |  |  | $ | 997,892 |
Carried interest allocation | 225,593 |  |  | — |  |  | — |  |  | 225,593 |
Incentive fees | 21,131 |  |  | — |  |  | (34) |  |  | 21,097 |
Principal investment income | 27,983 |  |  | — |  |  | (24,044) |  |  | 3,939 |
Administrative, transaction and other fees | 76,992 |  |  | — |  |  | (9,084) |  |  | 67,908 |
Total revenues | 1,372,432 |  |  | — |  |  | (56,003) |  |  | 1,316,429 |
Expenses |  |  |  |  |  |  |
Compensation and benefits | 729,612 |  |  | — |  |  | — |  |  | 729,612 |
Performance related compensation | 173,884 |  |  | — |  |  | — |  |  | 173,884 |
General, administrative and other expense | 243,316 |  |  | — |  |  | (227) |  |  | 243,089 |
Expenses of the Consolidated Funds | — |  |  | 40,942 |  |  | (22,975) |  |  | 17,967 |
Total expenses | 1,146,812 |  |  | 40,942 |  |  | (23,202) |  |  | 1,164,552 |
Other income (expense) |  |  |  |  |  |  |
Net realized and unrealized gains (losses) on investments | (15,359) |  |  | — |  |  | 21,693 |  |  | 6,334 |
Interest and dividend income | 11,785 |  |  | — |  |  | (8,807) |  |  | 2,978 |
Interest expense | (32,867) |  |  | — |  |  | — |  |  | (32,867) |
Other income, net | 6,788 |  |  | — |  |  | 805 |  |  | 7,593 |
Net realized and unrealized gains on investments of the Consolidated Funds | — |  |  | 16,205 |  |  | (8,144) |  |  | 8,061 |
Interest and other income of the Consolidated Funds | — |  |  | 238,470 |  |  | (805) |  |  | 237,665 |
Interest expense of the Consolidated Funds | — |  |  | (160,257) |  |  | 6,991 |  |  | (153,266) |
Total other income (expense), net | (29,653) |  |  | 94,418 |  |  | 11,733 |  |  | 76,498 |
Income before taxes | 195,967 |  |  | 53,476 |  |  | (21,068) |  |  | 228,375 |
Income tax expense | 33,823 |  |  | 48 |  |  | — |  |  | 33,871 |
Net income | 162,144 |  |  | 53,428 |  |  | (21,068) |  |  | 194,504 |
Less: Net income attributable to non-controlling interests in Consolidated Funds | — |  |  | 53,428 |  |  | (21,068) |  |  | 32,360 |
Net income attributable to Ares Operating Group entities | 162,144 |  |  | — |  |  | — |  |  | 162,144 |
Less: Net loss attributable to redeemable interest in Ares Operating Group entities | (58) |  |  | — |  |  | — |  |  | (58) |
Less: Net income attributable to non-controlling interests in Ares Operating Group entities | 76,608 |  |  | — |  |  | — |  |  | 76,608 |
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders | $ | 85,594 |  |  | $ | — |  |  | $ | — |  |  | $ | 85,594 |
Schedule of Cash Flows |
| Six months ended June 30, 2023
| Consolidated Company Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 445,197 |  |  | $ | 164,256 |  |  | $ | (69,882) |  |  | $ | 539,571 |
Adjustments to reconcile net income to net cash provided by operating activities | (108,264) |  |  | — |  |  | 258,037 |  |  | 149,773 |
Adjustments to reconcile net income to net cash used in operating activities allocable to non-controlling interests in Consolidated Funds | — |  |  | (869,324) |  |  | (14,907) |  |  | (884,231) |
Cash flows due to changes in operating assets and liabilities | 130,743 |  |  | — |  |  | (61,317) |  |  | 69,426 |
Cash flows due to changes in operating assets and liabilities allocable to non-controlling interest in Consolidated Funds | — |  |  | 144,378 |  |  | (10,397) |  |  | 133,981 |
Net cash provided by (used in) operating activities | 467,676 |  |  | (560,690) |  |  | 101,534 |  |  | 8,520 |
Cash flows from investing activities: |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements, net of disposals | (21,127) |  |  | — |  |  | — |  |  | (21,127) |
Net cash used in investing activities | (21,127) |  |  | — |  |  | — |  |  | (21,127) |
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from Credit Facility | 495,000 |  |  | — |  |  | — |  |  | 495,000 |
Repayments of Credit Facility | (470,000) |  |  | — |  |  | — |  |  | (470,000) |
Dividends and distributions | (510,501) |  |  | — |  |  | — |  |  | (510,501) |
Stock option exercises | 53,140 |  |  | — |  |  | — |  |  | 53,140 |
Taxes paid related to net share settlement of equity awards | (133,570) |  |  | — |  |  | — |  |  | (133,570) |
Other financing activities | 1,554 |  |  | — |  |  | — |  |  | 1,554 |
Allocable to redeemable and non-controlling interests in Consolidated Funds: |  |  |  |  |  |  |
Contributions from redeemable and non-controlling interests in Consolidated Funds | — |  |  | 880,426 |  |  | (199,435) |  |  | 680,991 |
Distributions to non-controlling interests in Consolidated Funds | — |  |  | (46,303) |  |  | 10,378 |  |  | (35,925) |
Redemptions of redeemable interests in Consolidated Funds | — |  |  | (538,985) |  |  | — |  |  | (538,985) |
Borrowings under loan obligations by Consolidated Funds | — |  |  | 535,464 |  |  | — |  |  | 535,464 |
Repayments under loan obligations by Consolidated Funds | — |  |  | (174,669) |  |  | — |  |  | (174,669) |
Net cash provided by (used in) financing activities | (564,377) |  |  | 655,933 |  |  | (189,057) |  |  | (97,501) |
Effect of exchange rate changes | 4,668 |  |  | (7,720) |  |  | — |  |  | (3,052) |
Net change in cash and cash equivalents | (113,160) |  |  | 87,523 |  |  | (87,523) |  |  | (113,160) |
Cash and cash equivalents, beginning of period | 389,987 |  |  | 724,641 |  |  | (724,641) |  |  | 389,987 |
Cash and cash equivalents, end of period | $ | 276,827 |  |  | $ | 812,164 |  |  | $ | (812,164) |  |  | $ | 276,827 |
Supplemental disclosure of non-cash financing activities: |  |  |  |  |  |  |
Issuance of Class A common stock in connection with acquisition-related activity | $ | 116,101 |  |  | $ | — |  |  | $ | — |  |  | $ | 116,101 |
Issuance of AOG Units in connection with settlement of management incentive program | $ | 245,647 |  |  | $ | — |  |  | $ | — |  |  | $ | 245,647 |
| Six months ended June 30, 2022
| Consolidated Company Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 162,144 |  |  | $ | 53,428 |  |  | $ | (21,068) |  |  | $ | 194,504 |
Adjustments to reconcile net income to net cash provided by operating activities | 147,828 |  |  | — |  |  | (86,755) |  |  | 61,073 |
Adjustments to reconcile net income to net cash used in operating activities allocable to non-controlling interests in Consolidated Funds | — |  |  | (863,947) |  |  | 8,144 |  |  | (855,803) |
Cash flows due to changes in operating assets and liabilities | 48,203 |  |  | — |  |  | 108,957 |  |  | 157,160 |
Cash flows due to changes in operating assets and liabilities allocable to non-controlling interest in Consolidated Funds | — |  |  | (255,233) |  |  | 130,101 |  |  | (125,132) |
Net cash provided by (used in) operating activities | 358,175 |  |  | (1,065,752) |  |  | 139,379 |  |  | (568,198) |
Cash flows from investing activities: |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements, net of disposals | (18,448) |  |  | — |  |  | — |  |  | (18,448) |
Acquisitions, net of cash acquired | (301,677) |  |  | — |  |  | — |  |  | (301,677) |
Net cash used in investing activities | (320,125) |  |  | — |  |  | — |  |  | (320,125) |
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from Credit Facility | 700,000 |  |  | — |  |  | — |  |  | 700,000 |
Proceeds from senior notes | 488,915 |  |  | — |  |  | — |  |  | 488,915 |
Repayments of Credit Facility | (720,000) |  |  | — |  |  | — |  |  | (720,000) |
Dividends and distributions | (406,366) |  |  | — |  |  | — |  |  | (406,366) |
Stock option exercises | 8,644 |  |  | — |  |  | — |  |  | 8,644 |
Taxes paid related to net share settlement of equity awards | (189,485) |  |  | — |  |  | — |  |  | (189,485) |
Other financing activities | 1,834 |  |  | — |  |  | — |  |  | 1,834 |
Allocable to non-controlling interests in Consolidated Funds: |  |  |  |  |  |  |
Contributions from non-controlling interests in Consolidated Funds | — |  |  | 242,975 |  |  | (24,695) |  |  | 218,280 |
Distributions to non-controlling interests in Consolidated Funds | — |  |  | (164,035) |  |  | 110,397 |  |  | (53,638) |
Borrowings under loan obligations by Consolidated Funds | — |  |  | 814,183 |  |  | — |  |  | 814,183 |
Repayments under loan obligations by Consolidated Funds | — |  |  | (46,873) |  |  | — |  |  | (46,873) |
Net cash provided by (used in) financing activities | (116,458) |  |  | 846,250 |  |  | 85,702 |  |  | 815,494 |
Effect of exchange rate changes | (12,380) |  |  | (5,579) |  |  | — |  |  | (17,959) |
Net change in cash and cash equivalents | (90,788) |  |  | (225,081) |  |  | 225,081 |  |  | (90,788) |
Cash and cash equivalents, beginning of period | 343,655 |  |  | 1,049,191 |  |  | (1,049,191) |  |  | 343,655 |
Cash and cash equivalents, end of period | $ | 252,867 |  |  | $ | 824,110 |  |  | $ | (824,110) |  |  | $ | 252,867 |
Supplemental disclosure of non-cash financing activities: |  |  |  |  |  |  |
Issuance of Class A common stock in connection with acquisition-related activity | $ | 12,835 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,835 |

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

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-5A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-9 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-6 + Details
Name: | us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration