XML 108 R86.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Reconciliation of Total Segments to Income (Loss) Before Provision for Taxes and Total Assets (Detail) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Total Revenues $ 3,687,828 $ 1,381,845  
Less: Unrealized Principal Investment (Income) Loss 461,623 (491,417)  
Total Expenses 1,790,407 1,189,345  
Total Other Income (17,767) 65,856  
Total Other Income 0 0  
Total GAAP Income Before Provision for Taxes 1,879,654 258,356  
Less: Unrealized Principal Investment (Income) Loss 461,623 (491,417)  
Total Assets 39,706,302   $ 40,287,530
Operating Segments      
Segment Reporting Information [Line Items]      
Total Revenues [1] 2,549,403 2,485,848  
Total Expenses [2] 1,096,079 1,056,643  
Total Segment Distributable Earnings 1,453,324 1,429,205  
Total Assets 36,831,351    
Consolidation Adjustments and Reconciling Items      
Segment Reporting Information [Line Items]      
Less: Unrealized Performance Revenues [3] (445,936) 759,316  
Less: Unrealized Principal Investment (Income) Loss [4] (442,976) 479,120  
Less: Interest and Dividend Revenue [5] (97,839) (95,101)  
Less: Other Revenue [6] (44,747) 14,180  
Impact of Consolidation [7] (106,874) (58,987)  
Transaction-Related and Non-Recurring Items [8] (449) 4,788  
Less: Unrealized Performance Allocations Compensation [9] (180,900) 313,249  
Less: Equity-Based Compensation [10] (317,779) (268,134)  
Less: Interest Expense [11] (107,640) (104,209)  
Impact of Consolidation [7] (25,949) (56,674)  
Amortization of Intangibles [12] (7,333) (11,341)  
Transaction-Related and Non-Recurring Items [8] (52,646) (3,833)  
Administrative Fee Adjustment [13] 2,477 2,447  
Less: Unrealized Performance Revenues [3] (445,936) 759,316  
Less: Unrealized Principal Investment (Income) Loss [4] (442,976) 479,120  
Less: Interest and Dividend Revenue [5] (97,839) (95,101)  
Less: Other Revenue [6] (44,747) 14,180  
Plus: Unrealized Performance Allocations Compensation [9] 180,900 (313,249)  
Plus: Equity-Based Compensation [10] 317,779 268,134  
Plus: Interest Expense [11] 107,640 104,209  
Amortization of Intangibles [12] 7,333 11,341  
Administrative Fee Adjustment [13] 2,477 2,447  
Transaction-Related Charges [8] 52,197 8,621  
Segment Adjustment      
Segment Reporting Information [Line Items]      
Intersegment Eliminations 396 687  
Intersegment Eliminations 396 687  
Impact of Consolidation      
Segment Reporting Information [Line Items]      
Total Other Income 17,767 (65,856)  
Impact of Consolidation [7] (63,158) $ (68,169)  
Total Assets [7] $ (2,874,951)    
[1] Total Segment Revenues is comprised of the following:
[2] Total Segment Expenses is comprised of the following:
[3] This adjustment removes Unrealized Performance Revenues on a segment basis.
[4] This adjustment removes Unrealized Principal Investment Income (Loss) on a segment basis.
[5] This adjustment removes Interest and Dividend Revenue on a segment basis.
[6] This adjustment removes Other Revenue on a segment basis. For the three months ended March 31, 2024 and 2023, Other Revenue on a GAAP basis was $44.8 million and $(14.2) million, and included $44.5 million and $(14.7) million of foreign exchange gains (losses), respectively.
[7] This adjustment reverses the effect of consolidating Blackstone Funds, which are excluded from Blackstone’s segment presentation. This adjustment includes the elimination of Blackstone’s interest in these funds, the removal of revenue from the reimbursement of certain expenses by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures, and the removal of amounts associated with the ownership of Blackstone consolidated operating partnerships held by non-controlling interests.
[8] This adjustment removes Transaction-Related and Non-Recurring Items, which are excluded from Blackstone’s segment presentation. Transaction-Related and Non-Recurring Items arise from corporate actions including acquisitions, divestitures, Blackstone’s initial public offering and non-recurring gains, losses, or other charges, if any. They consist primarily of equity-based compensation charges, gains and losses on contingent consideration arrangements, changes in the balance of the Tax Receivable Agreement resulting from a change in tax law or similar event, transaction costs, gains or losses associated with these corporate actions and non-recurring gains, losses or other charges that affect period to period comparability and are not reflective of Blackstone’s operational performance. For the three months ended March 31, 2024, this adjustment includes removal of an accrual for an estimated liability for a legal matter.
[9] This adjustment removes Unrealized Performance Allocations Compensation.
[10] This adjustment removes Equity-Based Compensation on a segment basis.
[11] This adjustment adds back Interest Expense on a segment basis, excluding interest expense related to the Tax Receivable Agreement.
[12] This adjustment removes the amortization of transaction-related intangibles, which are excluded from Blackstone’s segment presentation.
[13] This adjustment adds an amount equal to an administrative fee collected on a quarterly basis from certain holders of Blackstone Holdings Partnership Units. The administrative fee is accounted for as a capital contribution under GAAP, but is reflected as a reduction of Other Operating Expenses in Blackstone’s segment presentation.