XML 57 R17.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

EARNINGS PER SHARE | 6 Months Ended
--- | ---
Jun. 30, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | 10. EARNINGS PER SHARE The Company has Class A and non-voting common stock outstanding. The non-voting common stock has the same economic rights as the Class A common stock; therefore, earnings per share is presented on a combined basis. Income of the Company has been allocated on a proportionate basis to the two common stock classes. Basic earnings per share of Class A and non-voting common stock is computed by using the two-class method. Diluted earnings per share of Class A and non-voting common stock is computed using the more dilutive method of either the two-class method or the treasury stock method. For the three and six months ended June 30, 2024, the two-class method was the more dilutive method. For the three and six months ended June 30, 2023, the treasury stock method was the more dilutive method. The computation of diluted earnings per share excludes the following restricted units and AOG Units as their effect would have been anti-dilutive:
| Three months ended June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Restricted units | — |  |  | — |  |  | — |  |  | 4,131 |  |  |
AOG Units | — |  |  | 120,137,310 |  |  | — |  |  | 119,391,357 |  |  |
The following table presents the computation of basic and diluted earnings per common share:
| Three months ended June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Basic earnings per share of Class A and non-voting common stock: |  |  |  |  |  |  |  |  |
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders | $ | 94,938 |  |  | $ | 144,514 |  |  | $ | 167,965 |  |  | $ | 238,553 |  |  |
Dividends declared and paid on Class A and non-voting common stock | (185,241) |  |  | (142,220) |  |  | (366,170) |  |  | (280,640) |  |  |
Distributions on unvested restricted units | (7,594) |  |  | (5,316) |  |  | (14,864) |  |  | (10,630) |  |  |
Dividends in excess of earnings available to Class A and non-voting common stockholders | $ | (97,897) |  |  | $ | (3,022) |  |  | $ | (213,069) |  |  | $ | (52,717) |  |  |
Basic weighted-average shares of Class A and non-voting common stock | 196,186,922 |  |  | 182,999,515 |  |  | 194,404,932 |  |  | 180,998,934 |  |  |
Dividends in excess of earnings per share of Class A and non-voting common stock | $ | (0.50) |  |  | $ | (0.02) |  |  | $ | (1.10) |  |  | $ | (0.29) |  |  |
Dividend declared and paid per Class A and non-voting common stock | 0.93 |  |  | 0.77 |  |  | 1.86 |  |  | 1.54 |  |  |
Basic earnings per share of Class A and non-voting common stock | $ | 0.43 |  |  | $ | 0.75 |  |  | $ | 0.76 |  |  | $ | 1.25 |  |  |
Diluted earnings per share of Class A and non-voting common stock: |  |  |  |  |  |  |  |  |
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders | $ | 94,938 |  |  | $ | 144,514 |  |  | $ | 167,965 |  |  | $ | 238,553 |  |  |
Distributions on unvested restricted units | (7,594) |  |  | — |  |  | (14,864) |  |  | — |  |  |
Net income available to Class A and non-voting common stockholders | $ | 87,344 |  |  | $ | 144,514 |  |  | $ | 153,101 |  |  | $ | 238,553 |  |  |
Effect of dilutive shares: |  |  |  |  |  |  |  |  |
Restricted units | — |  |  | 8,489,883 |  |  | — |  |  | 7,991,062 |  |  |
Options | — |  |  | 2,568,643 |  |  | — |  |  | 3,171,820 |  |  |
Diluted weighted-average shares of Class A and non-voting common stock | 196,186,922 |  |  | 194,058,041 |  |  | 194,404,932 |  |  | 192,161,816 |  |  |
Diluted earnings per share of Class A and non-voting common stock | $ | 0.43 |  |  | $ | 0.74 |  |  | $ | 0.76 |  |  | $ | 1.24 |  |  |

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

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration