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Supplemental Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Supplemental financial Position | The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Partnership’s financial position as of March 31, 2017 and December 31, 2016 and results of operations for the three months ended March 31, 2017 and 2016. The supplemental statement of cash flows is presented without effects of the Consolidated Funds.
| As of March 31, 2017
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 799.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 799.2 |
Cash and cash equivalents held at Consolidated Funds | — |  |  | 386.5 |  |  | — |  |  | 386.5 |
Restricted cash | 75.4 |  |  | — |  |  | — |  |  | 75.4 |
Corporate treasury investments | 148.9 |  |  | — |  |  | — |  |  | 148.9 |
Accrued performance fees | 3,016.7 |  |  | — |  |  | — |  |  | 3,016.7 |
Investments | 1,348.8 |  |  | — |  |  | (179.8 | ) |  | 1,169.0 |
Investments of Consolidated Funds | — |  |  | 3,903.1 |  |  | — |  |  | 3,903.1 |
Due from affiliates and other receivables, net | 203.2 |  |  | — |  |  | (3.3 | ) |  | 199.9 |
Due from affiliates and other receivables of Consolidated Funds, net | — |  |  | 53.4 |  |  | — |  |  | 53.4 |
Receivables and inventory of a consolidated real estate VIE | 173.8 |  |  | — |  |  | — |  |  | 173.8 |
Fixed assets, net | 92.6 |  |  | — |  |  | — |  |  | 92.6 |
Deposits and other | 46.5 |  |  | — |  |  | — |  |  | 46.5 |
Other assets of a consolidated real estate VIE | 32.7 |  |  | — |  |  | — |  |  | 32.7 |
Intangible assets, net | 40.1 |  |  | — |  |  | — |  |  | 40.1 |
Deferred tax assets | 237.4 |  |  | — |  |  | — |  |  | 237.4 |
Total assets | $ | 6,215.3 |  |  | $ | 4,343.0 |  |  | $ | (183.1 | ) |  | $ | 10,375.2 |
Liabilities and partners’ capital |  |  |  |  |  |  |
Debt obligations | $ | 1,331.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,331.7 |
Loans payable of Consolidated Funds | — |  |  | 3,587.5 |  |  | — |  |  | 3,587.5 |
Loans payable of a consolidated real estate VIE at fair value (principal amount of $141.5 million) | 77.8 |  |  | — |  |  | — |  |  | 77.8 |
Accounts payable, accrued expenses and other liabilities | 372.6 |  |  | — |  |  | — |  |  | 372.6 |
Accrued compensation and benefits | 1,726.8 |  |  | — |  |  | — |  |  | 1,726.8 |
Due to affiliates | 283.7 |  |  | 0.2 |  |  | — |  |  | 283.9 |
Deferred revenue | 242.1 |  |  | — |  |  | — |  |  | 242.1 |
Deferred tax liabilities | 76.1 |  |  | — |  |  | — |  |  | 76.1 |
Other liabilities of Consolidated Funds | — |  |  | 592.1 |  |  | (32.1 | ) |  | 560.0 |
Other liabilities of a consolidated real estate VIE | 177.5 |  |  | — |  |  | — |  |  | 177.5 |
Accrued giveback obligations | 161.2 |  |  | — |  |  | — |  |  | 161.2 |
Total liabilities | 4,449.5 |  |  | 4,179.8 |  |  | (32.1 | ) |  | 8,597.2 |
Partners’ capital | 498.5 |  |  | 40.3 |  |  | (40.3 | ) |  | 498.5 |
Accumulated other comprehensive loss | (95.7 | ) |  | (1.1 | ) |  | 0.7 |  |  | (96.1 | )
Non-controlling interests in consolidated entities | 233.1 |  |  | 13.6 |  |  | — |  |  | 246.7 |
Non-controlling interests in Carlyle Holdings | 1,129.9 |  |  | 110.4 |  |  | (111.4 | ) |  | 1,128.9 |
Total partners’ capital | 1,765.8 |  |  | 163.2 |  |  | (151.0 | ) |  | 1,778.0 |
Total liabilities and partners’ capital | $ | 6,215.3 |  |  | $ | 4,343.0 |  |  | $ | (183.1 | ) |  | $ | 10,375.2 |
| As of December 31, 2016
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 670.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 670.9 |
Cash and cash equivalents held at Consolidated Funds | — |  |  | 761.5 |  |  | — |  |  | 761.5 |
Restricted cash | 13.1 |  |  | — |  |  | — |  |  | 13.1 |
Corporate treasury investments | 190.2 |  |  | — |  |  | — |  |  | 190.2 |
Accrued performance fees | 2,481.1 |  |  | — |  |  | — |  |  | 2,481.1 |
Investments | 1,272.2 |  |  | — |  |  | (165.2 | ) |  | 1,107.0 |
Investments of Consolidated Funds | — |  |  | 3,893.7 |  |  | — |  |  | 3,893.7 |
Due from affiliates and other receivables, net | 231.0 |  |  | — |  |  | (3.8 | ) |  | 227.2 |
Due from affiliates and other receivables of Consolidated Funds, net | — |  |  | 29.5 |  |  | — |  |  | 29.5 |
Receivables and inventory of a consolidated real estate VIE | 145.4 |  |  | — |  |  | — |  |  | 145.4 |
Fixed assets, net | 106.1 |  |  | — |  |  | — |  |  | 106.1 |
Deposits and other | 39.4 |  |  | — |  |  | — |  |  | 39.4 |
Other assets of a consolidated real estate VIE | 31.5 |  |  | — |  |  | — |  |  | 31.5 |
Intangible assets, net | 42.0 |  |  | — |  |  | — |  |  | 42.0 |
Deferred tax assets | 234.4 |  |  | — |  |  | — |  |  | 234.4 |
Total assets | $ | 5,457.3 |  |  | $ | 4,684.7 |  |  | $ | (169.0 | ) |  | $ | 9,973.0 |
Liabilities and partners’ capital |  |  |  |  |  |  |
Debt obligations | $ | 1,265.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,265.2 |
Loans payable of Consolidated Funds | — |  |  | 3,866.3 |  |  | — |  |  | 3,866.3 |
Loans payable of a consolidated real estate VIE at fair value (principal amount of $144.4 million) | 79.4 |  |  | — |  |  | — |  |  | 79.4 |
Accounts payable, accrued expenses and other liabilities | 369.8 |  |  | — |  |  | — |  |  | 369.8 |
Accrued compensation and benefits | 1,661.8 |  |  | — |  |  | — |  |  | 1,661.8 |
Due to affiliates | 223.4 |  |  | 0.2 |  |  | — |  |  | 223.6 |
Deferred revenue | 54.0 |  |  | — |  |  | — |  |  | 54.0 |
Deferred tax liabilities | 76.6 |  |  | — |  |  | — |  |  | 76.6 |
Other liabilities of Consolidated Funds | — |  |  | 669.0 |  |  | (32.0 | ) |  | 637.0 |
Other liabilities of a consolidated real estate VIE | 124.5 |  |  | — |  |  | — |  |  | 124.5 |
Accrued giveback obligations | 160.8 |  |  | — |  |  | — |  |  | 160.8 |
Total liabilities | 4,015.5 |  |  | 4,535.5 |  |  | (32.0 | ) |  | 8,519.0 |
Partners’ capital | 403.1 |  |  | 36.7 |  |  | (36.7 | ) |  | 403.1 |
Accumulated other comprehensive income (loss) | (94.9 | ) |  | (1.5 | ) |  | 1.2 |  |  | (95.2 | )
Non-controlling interests in consolidated entities | 264.3 |  |  | 13.5 |  |  | — |  |  | 277.8 |
Non-controlling interests in Carlyle Holdings | 869.3 |  |  | 100.5 |  |  | (101.5 | ) |  | 868.3 |
Total partners’ capital | 1,441.8 |  |  | 149.2 |  |  | (137.0 | ) |  | 1,454.0 |
Total liabilities and partners’ capital | $ | 5,457.3 |  |  | $ | 4,684.7 |  |  | $ | (169.0 | ) |  | $ | 9,973.0 |
Supplemental results of operations |
| Three Months Ended March 31, 2017
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Revenues |  |  |  |  |  |  |
Fund management fees | $ | 250.3 |  |  | $ | — |  |  | $ | (4.0 | ) |  | $ | 246.3 |
Performance fees |  |  |  |  |  |  |
Realized | 83.2 |  |  | — |  |  | — |  |  | 83.2 |
Unrealized | 598.4 |  |  | — |  |  | — |  |  | 598.4 |
Total performance fees | 681.6 |  |  | — |  |  | — |  |  | 681.6 |
Investment income (loss) |  |  |  |  |  |  |
Realized | (0.1 | ) |  | — |  |  | (0.1 | ) |  | (0.2 | )
Unrealized | 51.8 |  |  | — |  |  | (5.3 | ) |  | 46.5 |
Investment income (loss) | 51.7 |  |  | — |  |  | (5.4 | ) |  | 46.3 |
Interest and other income | 15.9 |  |  | — |  |  | (5.5 | ) |  | 10.4 |
Interest and other income of Consolidated Funds | — |  |  | 42.9 |  |  | — |  |  | 42.9 |
Revenue of a consolidated real estate VIE | 92.6 |  |  | — |  |  | — |  |  | 92.6 |
Total revenues | 1,092.1 |  |  | 42.9 |  |  | (14.9 | ) |  | 1,120.1 |
Expenses |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |
Base compensation | 146.0 |  |  | — |  |  | — |  |  | 146.0 |
Equity-based compensation | 72.8 |  |  | — |  |  | — |  |  | 72.8 |
Performance fee related |  |  |  |  |  |  |
Realized | 45.8 |  |  | — |  |  | — |  |  | 45.8 |
Unrealized | 271.3 |  |  | — |  |  | — |  |  | 271.3 |
Total compensation and benefits | 535.9 |  |  | — |  |  | — |  |  | 535.9 |
General, administrative and other expenses | 93.8 |  |  | — |  |  | — |  |  | 93.8 |
Interest | 15.0 |  |  | — |  |  | — |  |  | 15.0 |
Interest and other expenses of Consolidated Funds | — |  |  | 53.0 |  |  | (7.8 | ) |  | 45.2 |
Interest and other expenses of a consolidated real estate VIE | 119.6 |  |  | — |  |  | — |  |  | 119.6 |
Total expenses | 764.3 |  |  | 53.0 |  |  | (7.8 | ) |  | 809.5 |
Other income |  |  |  |  |  |  |
Net investment gains of Consolidated Funds | — |  |  | 17.1 |  |  | — |  |  | 17.1 |
Income before provision for income taxes | 327.8 |  |  | 7.0 |  |  | (7.1 | ) |  | 327.7 |
Provision for income taxes | 5.8 |  |  | — |  |  | — |  |  | 5.8 |
Net income | 322.0 |  |  | 7.0 |  |  | (7.1 | ) |  | 321.9 |
Net income attributable to non-controlling interests in consolidated entities | 3.4 |  |  | — |  |  | (0.1 | ) |  | 3.3 |
Net income attributable to Carlyle Holdings | 318.6 |  |  | 7.0 |  |  | (7.0 | ) |  | 318.6 |
Net income attributable to non-controlling interests in Carlyle Holdings | 235.6 |  |  | — |  |  | — |  |  | 235.6 |
Net income attributable to The Carlyle Group L.P. | $ | 83.0 |  |  | $ | 7.0 |  |  | $ | (7.0 | ) |  | $ | 83.0 |
| Three Months Ended March 31, 2016
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Revenues |  |  |  |  |  |  |
Fund management fees | $ | 292.4 |  |  | $ | — |  |  | $ | (2.9 | ) |  | $ | 289.5 |
Performance fees |  |  |  |  |  |  |
Realized | 131.9 |  |  | — |  |  | (0.1 | ) |  | 131.8 |
Unrealized | 13.4 |  |  | — |  |  | — |  |  | 13.4 |
Total performance fees | 145.3 |  |  | — |  |  | (0.1 | ) |  | 145.2 |
Investment income (loss) |  |  |  |  |  |  |
Realized | 13.3 |  |  | — |  |  | (0.7 | ) |  | 12.6 |
Unrealized | (30.9 | ) |  | — |  |  | 8.7 |  |  | (22.2 | )
Total investment income (loss) | (17.6 | ) |  | — |  |  | 8.0 |  |  | (9.6 | )
Interest and other income | 5.7 |  |  | — |  |  | (1.0 | ) |  | 4.7 |
Interest and other income of Consolidated Funds | — |  |  | 28.9 |  |  | — |  |  | 28.9 |
Revenue of a consolidated real estate VIE | 24.4 |  |  | — |  |  | — |  |  | 24.4 |
Total revenues | 450.2 |  |  | 28.9 |  |  | 4.0 |  |  | 483.1 |
Expenses |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |
Base compensation | 166.3 |  |  | — |  |  | — |  |  | 166.3 |
Equity-based compensation | 75.4 |  |  | — |  |  | — |  |  | 75.4 |
Performance fee related |  |  |  |  |  |  |
Realized | 61.6 |  |  | — |  |  | — |  |  | 61.6 |
Unrealized | 7.9 |  |  | — |  |  | — |  |  | 7.9 |
Total compensation and benefits | 311.2 |  |  | — |  |  | — |  |  | 311.2 |
General, administrative and other expenses | 82.3 |  |  | — |  |  | — |  |  | 82.3 |
Interest | 15.3 |  |  | — |  |  | — |  |  | 15.3 |
Interest and other expenses of Consolidated Funds | — |  |  | 29.7 |  |  | (6.3 | ) |  | 23.4 |
Interest and other expenses of a consolidated real estate VIE | 23.4 |  |  | — |  |  | — |  |  | 23.4 |
Other non-operating expenses | 3.8 |  |  | — |  |  | — |  |  | 3.8 |
Total expenses | 436.0 |  |  | 29.7 |  |  | (6.3 | ) |  | 459.4 |
Other income (loss) |  |  |  |  |  |  |
Net investment losses of Consolidated Funds | — |  |  | (8.4 | ) |  | — |  |  | (8.4 | )
Income (loss) before provision for income taxes | 14.2 |  |  | (9.2 | ) |  | 10.3 |  |  | 15.3 |
Provision for income taxes | 7.4 |  |  | — |  |  | — |  |  | 7.4 |
Net income (loss) | 6.8 |  |  | (9.2 | ) |  | 10.3 |  |  | 7.9 |
Net income (loss) attributable to non-controlling interests in consolidated entities | (3.4 | ) |  | — |  |  | 1.1 |  |  | (2.3 | )
Net income (loss) attributable to Carlyle Holdings | 10.2 |  |  | (9.2 | ) |  | 9.2 |  |  | 10.2 |
Net income attributable to non-controlling interests in Carlyle Holdings | 1.8 |  |  | — |  |  | — |  |  | 1.8 |
Net income (loss) attributable to The Carlyle Group L.P. | $ | 8.4 |  |  | $ | (9.2 | ) |  | $ | 9.2 |  |  | $ | 8.4 |
Supplemental statement of cash flows |
| Three Months Ended March 31,
| 2017 |  | 2016
| (Dollars in millions)
Cash flows from operating activities |  |  |
Net income | $ | 322.0 |  |  | $ | 6.8 |
Adjustments to reconcile net income to net cash flows from operating activities: |  |  |
Depreciation and amortization | 10.0 |  |  | 17.8 |
Equity-based compensation | 72.8 |  |  | 75.4 |
Excess tax benefits related to equity-based compensation | — |  |  | 0.7 |
Non-cash performance fees | (348.9 | ) |  | (7.4 | )
Other non-cash amounts | 0.2 |  |  | (2.3 | )
Investment (income) loss | (48.1 | ) |  | 18.3 |
Purchases of investments | (66.1 | ) |  | (23.8 | )
Proceeds from the sale of investments | 168.8 |  |  | 67.2 |
Payments of contingent consideration | (22.5 | ) |  | (75.6 | )
Deconsolidation of Claren Road (see Note 10) | (23.3 | ) |  | — |
Change in deferred taxes, net | (3.1 | ) |  | (5.3 | )
Change in due from affiliates and other receivables | (2.5 | ) |  | 1.0 |
Change in receivables and inventory of a consolidated real estate VIE | (27.9 | ) |  | (21.9 | )
Change in deposits and other | (6.7 | ) |  | (0.3 | )
Change in other assets of a consolidated real estate VIE | (1.7 | ) |  | 8.6 |
Change in accounts payable, accrued expenses and other liabilities | 12.6 |  |  | (24.5 | )
Change in accrued compensation and benefits | (159.8 | ) |  | (143.6 | )
Change in due to affiliates | 67.1 |  |  | (22.8 | )
Change in other liabilities of a consolidated real estate VIE | 56.6 |  |  | 6.2 |
Change in deferred revenue | 188.0 |  |  | 175.2 |
Net cash provided by operating activities | 187.5 |  |  | 49.7 |
Cash flows from investing activities |  |  |
Change in restricted cash | (62.1 | ) |  | 5.7 |
Purchases of fixed assets, net | (3.7 | ) |  | (4.2 | )
Net cash (used in) provided by investing activities | (65.8 | ) |  | 1.5 |
Cash flows from financing activities |  |  |
Proceeds from debt obligations | 66.1 |  |  | — |
Net payments on loans payable of a consolidated real estate VIE | (7.4 | ) |  | (9.4 | )
Payments of contingent consideration | — |  |  | (0.3 | )
Excess tax benefits related to equity-based compensation | — |  |  | (0.7 | )
Distributions to common unitholders | (13.7 | ) |  | (23.6 | )
Distributions to non-controlling interest holders in Carlyle Holdings | (38.9 | ) |  | (85.1 | )
Contributions from non-controlling interest holders | — |  |  | 4.3 |
Distributions to non-controlling interest holders | (38.0 | ) |  | (22.1 | )
Units repurchased | (0.2 | ) |  | (6.1 | )
Change in due to/from affiliates financing activities | 31.1 |  |  | 2.0 |
Net cash used in financing activities | (1.0 | ) |  | (141.0 | )
Effect of foreign exchange rate changes | 7.6 |  |  | 9.5 |
Increase (decrease) in cash and cash equivalents | 128.3 |  |  | (80.3 | )
Cash and cash equivalents, beginning of period | 670.9 |  |  | 991.5 |
Cash and cash equivalents, end of period | $ | 799.2 |  |  | $ | 911.2 |

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