XML 117 R78.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATION - Income Statement (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Total revenues $ 671,255 $ 801,290 $ 2,577,903 $ 2,117,719
Expenses        
Compensation and benefits 367,502 425,419 1,095,833 1,155,031
Performance related compensation (25,448) 142,934 401,990 316,818
General, administrative and other expenses 211,842 319,352 501,340 562,441
Total expenses 560,960 898,102 2,027,334 2,062,654
Other income (expense)        
Net realized and unrealized gains on investments (1,770) 4,431 5,226 10,765
Interest and dividend income 4,752 2,086 11,281 5,064
Interest expense (25,975) (18,307) (76,800) (51,174)
Other income (expense), net 5,742 2,601 (1,068) 10,194
Total other income, net 116,577 36,434 299,394 112,932
Income before taxes 226,872 (60,378) 849,963 167,997
Income tax expense (benefit) 29,898 (11,599) 113,418 22,272
Net income (loss) 196,974 (48,779) 736,545 145,725
Net income (loss) attributable to Ares Management Corporation Class A and non-voting common stockholders 61,823 (35,546) 300,376 50,048
Eliminations         
Revenues        
Total revenues (34,779) (13,484) (143,907) (69,487)
Expenses        
Compensation and benefits 0 0    
Performance related compensation 0 0    
General, administrative and other expenses (32) (14) (406) (241)
Total expenses (12,297) (11,746) (36,600) (34,948)
Other income (expense)        
Net realized and unrealized gains on investments (5,979) (1,002) (2,280) 20,691
Interest and dividend income (1,822) (3,734) (7,956) (12,541)
Other income (expense), net 213 (531) 515 274
Total other income, net 383 1,922 15,326 13,655
Income before taxes (22,099) 184 (91,981) (20,884)
Income tax expense (benefit) 0 0    
Net income (loss) (22,099) 184 (91,981) (20,884)
Net income (loss) attributable to Ares Management Corporation Class A and non-voting common stockholders 0 0 0  
Consolidated Funds         
Expenses        
Expenses of Consolidated Funds 7,064 10,397 28,171 28,364
Other income (expense)        
Net realized and unrealized gains on investments 79,591 (30) 188,717 8,031
Interest expense (201,363) (112,762) (540,954) (266,028)
Interest and other income of Consolidated Funds 255,600 158,415 712,992 396,080
Less: Net income (loss) attributable to non-controlling interests 80,289 16,340 174,663 48,700
Consolidated Funds  | Reportable legal entity        
Revenues        
Total revenues 0 0 0 0
Expenses        
Expenses of Consolidated Funds 19,329 22,129 64,365 63,071
Total expenses 19,329 22,129 64,365 63,071
Other income (expense)        
Net realized and unrealized gains on investments 71,666 (3,760) 165,885 12,445
Interest expense (201,622) (115,690) (543,684) (275,947)
Interest and other income of Consolidated Funds 255,813 157,884 713,507 396,354
Total other income, net 125,857 38,434 335,708 132,852
Income before taxes 106,528 16,305 271,343 69,781
Income tax expense (benefit) 4,140 149 4,699 197
Net income (loss) 102,388 16,156 266,644 69,584
Less: Net income (loss) attributable to non-controlling interests 102,388 16,156 266,644 69,584
Consolidated Funds  | Eliminations         
Expenses        
Expenses of Consolidated Funds (12,265) (11,732) (36,194) (34,707)
Other income (expense)        
Net realized and unrealized gains on investments 7,925 3,730 22,832 (4,414)
Interest expense 259 2,928 2,730 9,919
Interest and other income of Consolidated Funds (213) 531 (515) (274)
Less: Net income (loss) attributable to non-controlling interests (22,099) 184 (91,981) (20,884)
Ares Operating Group        
Other income (expense)        
Net income (loss) 116,685 (65,119) 561,882 97,025
Less: Net income (loss) attributable to redeemable interest 758 93 (332) 35
Less: Net income (loss) attributable to non-controlling interests 54,104 (29,666) 261,838 46,942
Ares Operating Group | Reportable legal entity        
Other income (expense)        
Less: Net income (loss) attributable to non-controlling interests       46,942
Ares Operating Group | Eliminations         
Other income (expense)        
Net income (loss) 0 0    
Consolidated Company Entities         
Revenues        
Total revenues 671,255 801,290 2,577,903 2,117,719
Consolidated Company Entities  | Reportable legal entity        
Revenues        
Total revenues 706,034 814,774 2,721,810 2,187,206
Expenses        
Compensation and benefits 367,502 425,419 1,095,833 1,155,031
Performance related compensation (25,448) 142,934 401,990 316,818
General, administrative and other expenses 211,874 319,366 501,746 562,682
Total expenses 553,928 887,719 1,999,569 2,034,531
Other income (expense)        
Net realized and unrealized gains on investments 4,209 5,433 7,506 (9,926)
Interest and dividend income 6,574 5,820 19,237 17,605
Interest expense (25,975) (18,307) (76,800) (51,174)
Other income (expense), net 5,529 3,132 (1,583) 9,920
Total other income, net (9,663) (3,922) (51,640) (33,575)
Income before taxes 142,443 (76,867) 670,601 119,100
Income tax expense (benefit) 25,758 (11,748) 108,719 22,075
Net income (loss) 116,685 (65,119) 561,882 97,025
Net income (loss) attributable to Ares Management Corporation Class A and non-voting common stockholders 61,823 (35,546) 300,376 50,048
Consolidated Company Entities  | Consolidated Funds  | Reportable legal entity        
Other income (expense)        
Less: Net income (loss) attributable to non-controlling interests       0
Consolidated Company Entities  | Ares Operating Group | Reportable legal entity        
Other income (expense)        
Net income (loss) 116,685 (65,119) 561,882 97,025
Less: Net income (loss) attributable to redeemable interest 758 93 (332) 35
Less: Net income (loss) attributable to non-controlling interests 54,104 (29,666) 261,838  
Management fees        
Revenues        
Total revenues 637,517 548,458 1,853,304 1,546,350
Management fees | Eliminations         
Revenues        
Total revenues (12,181) (11,682) (35,787) (34,523)
Management fees | Consolidated Company Entities  | Reportable legal entity        
Revenues        
Total revenues 649,698 560,140 1,889,091 1,580,873
Carried interest allocation        
Revenues        
Total revenues (28,126) 192,186 541,828 417,779
Carried interest allocation | Eliminations         
Revenues        
Total revenues (1,874) 0 (9,227)  
Carried interest allocation | Consolidated Company Entities  | Reportable legal entity        
Revenues        
Total revenues (26,252) 192,186 551,055 417,779
Incentive fees        
Revenues        
Total revenues 16,454 8,882 33,327 29,979
Incentive fees | Eliminations         
Revenues        
Total revenues 0 0 (138) (34)
Incentive fees | Consolidated Company Entities  | Reportable legal entity        
Revenues        
Total revenues 16,454 8,882 33,465 30,013
Principal investment income (loss)        
Revenues        
Total revenues 9,339 11,582 38,985 15,521
Principal investment income (loss) | Eliminations         
Revenues        
Total revenues (20,641) 2,144 (91,694) (21,900)
Principal investment income (loss) | Consolidated Company Entities  | Reportable legal entity        
Revenues        
Total revenues 29,980 9,438 130,679 37,421
Administrative, transaction and other fees        
Revenues        
Total revenues 36,071 40,182 110,459 108,090
Administrative, transaction and other fees | Eliminations         
Revenues        
Total revenues (83) (3,946) (7,061) (13,030)
Administrative, transaction and other fees | Consolidated Company Entities  | Reportable legal entity        
Revenues        
Total revenues $ 36,154 $ 44,128 $ 117,520 $ 121,120