XML 41 R19.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Offsetting of Assets And Liabilities
 3 Months Ended
Mar. 31, 2024
Offsetting of Assets and Liabilities
10. Offsetting of Assets and Liabilities
The following tables present the offsetting of assets and liabilities as of March 31, 2024 and December 31, 2023:
 
                                                                                                   
    
March 31, 2024
    
Gross and Net
               
    
Amounts of
   
Gross Amounts Not Offset
     
    
Assets Presented
   
in the Statement of
     
    
in the Statement
   
Financial Condition
     
    
of Financial
   
Financial
   
Cash Collateral
     
    
Condition
   
Instruments (a)
   
Received
   
Net Amount
Assets
            
Freestanding Derivatives
   
 $
190,464
 
   
 $
124,134
 
   
 $
55,854
 
   
 $
10,476
 
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
 
                                                                                                   
    
March 31, 2024
    
Gross and Net
               
    
Amounts of
               
    
Liabilities
   
Gross Amounts Not Offset
     
    
Presented in the
   
in the Statement of
     
    
Statement of
   
Financial Condition
     
    
Financial
   
Financial
   
Cash Collateral
     
    
Condition
   
Instruments (a)
   
Pledged
   
Net Amount
Liabilities
            
Freestanding Derivatives
   
$
97,974
 
   
$
97,300
 
   
$
8
 
   
$
666
 
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
 
                                                                                                   
    
December 31, 2023
    
Gross and Net
               
    
Amounts of
   
Gross Amounts Not Offset
     
    
Assets Presented
   
in the Statement of
     
    
in the Statement
   
Financial Condition
     
    
of Financial
   
Financial
   
Cash Collateral
     
    
Condition
   
Instruments (a)
   
Received
   
Net Amount
Assets
            
Freestanding Derivatives
   
$
190,079
 
   
$
107,330
 
   
$
49,532
 
   
$
33,217
 
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
 
                                                                                                   
    
December 31, 2023
    
Gross and Net
               
    
Amounts of
               
    
Liabilities
   
Gross Amounts Not Offset
     
    
Presented in the
   
in the Statement of
     
    
Statement of
   
Financial Condition
     
    
Financial
   
Financial
   
Cash Collateral
     
    
Condition
   
Instruments (a)
   
Pledged
   
Net Amount
Liabilities
            
Freestanding Derivatives
   
$
90,635
 
   
$
87,777
 
   
$
625
 
   
$
2,233
 
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
 
(a)
Amounts presented are inclusive of both legally enforceable master netting agreements, and financial instruments received or pledged as collateral. Financial instruments received or pledged as collateral offset derivative counterparty risk exposure, but do not reduce net balance sheet exposure.
 
Freestanding Derivative liabilities are included in Accounts Payable, Accrued Expenses and Other Liabilities in the Condensed Consolidated Statements of Financial Condition. Freestanding Derivative assets are included in Other Assets in the Condensed Consolidated Statements of Financial Condition. The following table presents the components of Other Assets:
 
 
 
 
 
 
 
 
 
 
 
  
March 31,
 
  
December 31,
 
 
  
2024
 
  
2023
 
Furniture, Equipment and Leasehold Improvements
  
 $
952,577
 
  
 $
937,355
 
Less: Accumulated Depreciation
  
 
(417,903
) 
  
 
(394,602
) 
 
  
 
 
 
  
 
 
 
Furniture, Equipment and Leasehold Improvements, Net
  
 
534,674
 
  
 
542,753
 
Prepaid Expenses
  
 
314,873
 
  
 
207,886
 
Freestanding Derivatives
  
 
163,664
 
  
 
170,890
 
Other
  
 
59,416
 
  
 
23,319
 
 
  
 
 
 
  
 
 
 
 
  
 $
  1,072,627
 
  
 $
  944,848
 
 
  
 
 
 
  
 
 
 
Notional Pooling Arrangements
Blackstone has notional cash pooling arrangements with financial institutions for cash management purposes. These arrangements allow for cash withdrawals based upon aggregate cash balances on deposit at the same financial institution. Cash withdrawals cannot exceed aggregate cash balances on deposit. The net balance of cash on deposit and overdrafts is used as a basis for calculating net interest expense or income. As of March 31, 2024, the aggregate cash balance on deposit relating to the cash pooling arrangements was $995.3 million, which was offset and reported net of the accompanying overdraft of $959.3 million.