XML 46 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 736,545 $ 145,725
Net cash provided by (used in) operating activities 326,791 (543,605)
Cash flows from investing activities:    
Net cash used in investing activities (44,177) (330,046)
Allocable to redeemable and non-controlling interests in Consolidated Funds:    
Net cash provided by (used in) financing activities (341,603) 927,081
Effect of exchange rate changes (19,171) (35,585)
Net change in cash and cash equivalents (78,160) 17,845
Cash and cash equivalents, beginning of period 389,987  
Cash and cash equivalents, end of period 311,827 361,500
Supplemental disclosure of non-cash financing activities:    
Issuance of Class A common stock in connection with acquisition-related activity 116,101 12,835
Issuance of AOG Units in connection with settlement of management incentive program 245,647 0
Consolidated Funds     
Cash flows from operating activities:    
Adjustments to reconcile net income to net cash provided by (used in) operating activities (948,908) (1,128,425)
Cash flows due to changes in operating assets and liabilities allocable to redeemable and non-controlling interest in Consolidated Funds 91,314 (195,504)
Allocable to redeemable and non-controlling interests in Consolidated Funds:    
Contributions from redeemable and non-controlling interests in Consolidated Funds 735,944 298,646
Distributions to non-controlling interests in Consolidated Funds (56,945) (104,432)
Redemptions of redeemable interests in Consolidated Funds (553,718) 0
Borrowings under loan obligations by Consolidated Funds 549,664 1,120,680
Repayments under loan obligations by Consolidated Funds (257,370) (121,273)
Ares Management L.P    
Cash flows from operating activities:    
Adjustments to reconcile net income to net cash provided by (used in) operating activities 312,180 320,950
Cash flows due to changes in operating assets and liabilities 135,660 313,649
Cash flows from investing activities:    
Purchase of furniture, equipment and leasehold improvements, net of disposals (44,177) (28,388)
Acquisitions, net of cash acquired 0 (301,658)
Cash flows from financing activities:    
Proceeds from Credit Facility 735,000 940,000
Proceeds from issuance of senior notes 0 488,915
Repayments of Credit Facility (670,000) (910,000)
Dividends and distributions  (760,085) (608,220)
Stock option exercises 80,426 14,531
Taxes paid related to net share settlement of equity awards (145,421) (194,223)
Other financing activities 902 2,457
Allocable to redeemable and non-controlling interests in Consolidated Funds:    
Cash and cash equivalents, beginning of period 389,987 343,655
Cash and cash equivalents, end of period $ 311,827 $ 361,500