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Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2024
Carrying Value and Fair Value of Blackstone Issued Notes | The following table presents each of Blackstone’s borrowings as of March 31, 2024 and December 31, 2023, as well as their carrying value and fair value. The borrowings are included in Loans Payable within the Condensed Consolidated Statements of Financial Condition. Each of the Senior Notes were issued at a discount through Blackstone’s indirect subsidiary, Blackstone Holdings Finance Co. L.L.C. The Senior Notes accrue interest from the issue date thereof and pay interest in arrears on a semi-annual basis or annual basis. The Secured Borrowings were issued at par, accrue interest from the issue date thereof and pay interest in arrears on a quarterly basis. CLO Notes Payable pay interest in arrears on a quarterly basis. 40
|  | March 31,2024 |  |  | December 31, 2023 |
|  | Carrying |  |  | Fair |  |  | Carrying |  |  | Fair |
Description |  | Value |  |  | Value |  |  | Value |  |  | Value |
Blackstone Operating Borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Senior Notes (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2.000%, Due 5/19/2025 |  | $ | 328,618 |  |  | $ | 317,401 |  |  | $ | 336,005 |  |  | $ | 324,778 |
1.000%, Due 10/5/2026 |  |  | 649,429 |  |  |  | 607,196 |  |  |  | 664,085 |  |  |  | 620,864 |
3.150%, Due 10/2/2027 |  |  | 298,572 |  |  |  | 281,337 |  |  |  | 298,476 |  |  |  | 283,059 |
5.900%, Due 11/3/2027 |  |  | 595,678 |  |  |  | 616,194 |  |  |  | 595,411 |  |  |  | 625,158 |
1.625%, Due 8/5/2028 |  |  | 645,646 |  |  |  | 566,209 |  |  |  | 645,406 |  |  |  | 566,508 |
1.500%, Due 4/10/2029 |  |  | 651,823 |  |  |  | 590,558 |  |  |  | 666,655 |  |  |  | 601,272 |
2.500%, Due 1/10/2030 |  |  | 493,819 |  |  |  | 434,280 |  |  |  | 493,573 |  |  |  | 431,005 |
1.600%, Due 3/30/2031 |  |  | 496,562 |  |  |  | 390,120 |  |  |  | 496,447 |  |  |  | 391,955 |
2.000%, Due 1/30/2032 |  |  | 789,587 |  |  |  | 628,088 |  |  |  | 789,283 |  |  |  | 633,153 |
2.550%, Due 3/30/2032 |  |  | 495,788 |  |  |  | 413,915 |  |  |  | 495,670 |  |  |  | 410,755 |
6.200%, Due 4/22/2033 |  |  | 892,061 |  |  |  | 948,303 |  |  |  | 891,899 |  |  |  | 962,037 |
3.500%, Due 6/1/2034 |  |  | 509,849 |  |  |  | 541,291 |  |  |  | 521,549 |  |  |  | 536,319 |
6.250%, Due 8/15/2042 |  |  | 239,530 |  |  |  | 260,620 |  |  |  | 239,457 |  |  |  | 263,270 |
5.000%, Due 6/15/2044 |  |  | 490,045 |  |  |  | 458,045 |  |  |  | 489,975 |  |  |  | 464,560 |
4.450%, Due 7/15/2045 |  |  | 344,728 |  |  |  | 295,243 |  |  |  | 344,691 |  |  |  | 297,486 |
4.000%, Due 10/2/2047 |  |  | 291,204 |  |  |  | 229,914 |  |  |  | 291,149 |  |  |  | 233,685 |
3.500%, Due 9/10/2049 |  |  | 392,481 |  |  |  | 288,116 |  |  |  | 392,436 |  |  |  | 294,608 |
2.800%, Due 9/30/2050 |  |  | 394,140 |  |  |  | 247,376 |  |  |  | 394,103 |  |  |  | 252,008 |
2.850%, Due 8/5/2051 |  |  | 543,357 |  |  |  | 344,674 |  |  |  | 543,317 |  |  |  | 352,457 |
3.200%, Due 1/30/2052 |  |  | 987,470 |  |  |  | 686,310 |  |  |  | 987,401 |  |  |  | 696,740 |
|  |  | 10,530,387 |  |  |  | 9,145,190 |  |  |  | 10,576,988 |  |  |  | 9,241,677 |
Other (b) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured Borrowing, Due 10/27/2033 |  |  | 19,949 |  |  |  | 19,949 |  |  |  | 19,949 |  |  |  | 19,949 |
Secured Borrowing, Due 1/29/2035 |  |  | 20,000 |  |  |  | 20,000 |  |  |  | 20,000 |  |  |  | 20,000 |
|  |  | 10,570,336 |  |  |  | 9,185,139 |  |  |  | 10,616,937 |  |  |  | 9,281,626 |
Borrowings of Consolidated Blackstone Funds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CLO Notes Payable (c) |  |  | 169,835 |  |  |  | 169,835 |  |  |  | 687,122 |  |  |  | 687,122 |
|  |  | 169,835 |  |  |  | 169,835 |  |  |  | 687,122 |  |  |  | 687,122 |
|  | $ | 10,740,171 |  |  | $ | 9,354,974 |  |  | $ | 11,304,059 |  |  | $ | 9,968,748 |
(a) | Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy.
(b) | The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.64% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 7.64%. Principal on the Secured Borrowings will be paid over the term with repayment amounts dependent on the performance of the underlying assets securing each borrowing. Repayment amounts from the underlying assets are restricted to solely satisfy the Secured Borrowings obligations. As of March 31, 2024, the fair value of the assets securing both Secured Borrowings equaled $48.5 million.
(c) | CLO Notes Payable have maturity dates ranging from June 2025 to January 2037 and have an effective interest rate of 8.25% as of March 31, 2024. A portion of the borrowing outstanding is comprised of subordinated notes which do not have contractual interest rates but instead pay distributions from the excess cash flows of the CLO vehicles.
Scheduled Principal Payments for Borrowings | Scheduled principal payments for borrowings as of March 31, 2024 were as follows:
|  | Blackstone |  | Borrowings of |  |
|  | Operating Borrowings |  | Consolidated Blackstone Funds |  | Total Borrowings
2024 |  | $ | — |  |  | $ | — |  |  | $ | — |
2025 |  |  | 331,924 |  |  |  | — |  |  |  | 331,924 |
2026 |  |  | 653,447 |  |  |  | — |  |  |  | 653,447 |
2027 |  |  | 911,589 |  |  |  | — |  |  |  | 911,589 |
2028 |  |  | 664,090 |  |  |  | — |  |  |  | 664,090 |
Thereafter |  |  | 8,136,900 |  |  |  | 180,131 |  |  |  | 8,317,031 |
|  | $ | 10,697,950 |  |  | $ | 180,131 |  |  | $ | 10,878,081 |

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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 + Details
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