| Summary of Aggregate Notional Amount and Fair Value of Derivative Financial Instruments |
The table below
summarizes the aggregate notional amount and fair value of the
derivative financial instruments. The notional amount represents
the absolute value amount of all outstanding derivative
contracts.
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December 31,
2013 |
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December 31,
2012 |
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Assets |
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Liabilities |
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Assets |
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Liabilities |
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Notional |
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Fair
Value |
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Notional |
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Fair
Value |
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Notional |
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Fair
Value |
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Notional |
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Fair
Value |
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Freestanding
Derivatives
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Blackstone—Other
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Interest Rate
Contracts
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$ |
1,994,276 |
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$ |
8,521 |
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$ |
1,083,140 |
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$ |
2,676 |
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$ |
689,300 |
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$ |
55,270 |
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$ |
636,555 |
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$ |
4,116 |
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Foreign Currency
Contracts
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166,066 |
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1,480 |
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163,787 |
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1,015 |
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16,771 |
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74 |
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7,025 |
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81 |
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Total Return
Swaps
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326,929 |
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342 |
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— |
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— |
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— |
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— |
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— |
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— |
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Credit Default
Swaps
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— |
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— |
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10,000 |
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591 |
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— |
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— |
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— |
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— |
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Investments of Consolidated
Blackstone Funds
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Foreign Currency
Contracts
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396,569 |
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30,830 |
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239,037 |
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10,018 |
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435,229 |
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37,898 |
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301,551 |
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17,101 |
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Interest Rate
Contracts
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62,193 |
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3,726 |
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— |
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— |
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165,517 |
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6,132 |
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90,500 |
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772 |
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Total
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$ |
2,946,033 |
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$ |
44,899 |
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$ |
1,495,964 |
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$ |
14,300 |
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$ |
1,306,817 |
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$ |
99,374 |
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$ |
1,035,631 |
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$ |
22,070 |
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| Summary of Impact of Derivative Financial Instruments to Consolidated Statements of Operations |
The table below
summarizes the impact to the Consolidated Statements of Operations
from derivative financial instruments:
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Year Ended
December 31, |
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2013 |
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2012 |
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2011 |
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Fair Value
Hedges—Interest Rate Swaps
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Hedge
Ineffectiveness
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$ |
— |
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$ |
548 |
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$ |
4,649 |
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Excluded from Assessment of
Effectiveness
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$ |
— |
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$ |
(938 |
) |
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$ |
(3,465 |
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Realized Gain
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$ |
— |
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$ |
22,941 |
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$ |
— |
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Freestanding
Derivatives
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Realized Gains
(Losses)
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Interest Rate
Contracts
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$ |
34,206 |
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$ |
(2,752 |
) |
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$ |
(8,634 |
) |
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Foreign Currency
Contracts
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4,022 |
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(3,816 |
) |
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1,739 |
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Credit Default
Swaps
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752 |
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(1 |
) |
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(111 |
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Other
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— |
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— |
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(153 |
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Total
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$ |
38,980 |
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$ |
(6,569 |
) |
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$ |
(7,159 |
) |
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Net Change in Unrealized
Gains (Losses)
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Interest Rate
Contracts
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$ |
(1,947 |
) |
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$ |
12,134 |
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$ |
8,718 |
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Foreign Currency
Contracts
|
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2,636 |
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(5,523 |
) |
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(33,408 |
) |
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Other
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392 |
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— |
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(7 |
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Total
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$ |
1,081 |
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$ |
6,611 |
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$ |
(24,697 |
) |
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