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v3.22.2.2

Supplemental Financial Information (Tables) | 9 Months Ended
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Sep. 30, 2022
Condensed Financial Information Disclosure [Abstract] |
Supplemental financial position |
| As of September 30, 2022
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,361.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,361.9 |
Cash and cash equivalents held at Consolidated Funds | — |  |  | 177.2 |  |  | — |  |  | 177.2 |
Restricted cash | 0.6 |  |  | — |  |  | — |  |  | 0.6 |
Corporate treasury investments | 69.5 |  |  | — |  |  | — |  |  | 69.5 |
Investments, including performance allocations of $7,428.7 million | 11,130.8 |  |  | — |  |  | (132.6) |  |  | 10,998.2 |
Investments of Consolidated Funds | — |  |  | 6,409.7 |  |  | — |  |  | 6,409.7 |
Due from affiliates and other receivables, net | 950.4 |  |  | — |  |  | (464.0) |  |  | 486.4 |
Due from affiliates and other receivables of Consolidated Funds, net | — |  |  | 108.6 |  |  | — |  |  | 108.6 |
Fixed assets, net | 134.4 |  |  | — |  |  | — |  |  | 134.4 |
Lease right-of-use assets, net | 333.5 |  |  | — |  |  | — |  |  | 333.5 |
Deposits and other | 69.1 |  |  | 0.3 |  |  | — |  |  | 69.4 |
Intangible assets, net | 925.1 |  |  | — |  |  | — |  |  | 925.1 |
Deferred tax assets | 17.9 |  |  | — |  |  | — |  |  | 17.9 |
Total assets | $ | 14,993.2 |  |  | $ | 6,695.8 |  |  | $ | (596.6) |  |  | $ | 21,092.4 |
Liabilities and equity |  |  |  |  |  |  |
Debt obligations | $ | 2,235.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,235.0 |
Loans payable of Consolidated Funds | — |  |  | 5,975.3 |  |  | (458.4) |  |  | 5,516.9 |
Accounts payable, accrued expenses and other liabilities | 379.4 |  |  | — |  |  | — |  |  | 379.4 |
Accrued compensation and benefits | 4,347.7 |  |  | — |  |  | — |  |  | 4,347.7 |
Due to affiliates | 336.0 |  |  | 15.7 |  |  | (0.1) |  |  | 351.6 |
Deferred revenue | 394.2 |  |  | — |  |  | — |  |  | 394.2 |
Deferred tax liabilities | 449.9 |  |  | — |  |  | — |  |  | 449.9 |
Other liabilities of Consolidated Funds | — |  |  | 222.1 |  |  | (0.1) |  |  | 222.0 |
Lease liabilities | 499.9 |  |  | — |  |  | — |  |  | 499.9 |
Accrued giveback obligations | 40.9 |  |  | — |  |  | — |  |  | 40.9 |
Total liabilities | 8,683.0 |  |  | 6,213.1 |  |  | (458.6) |  |  | 14,437.5 |
Common stock | 3.6 |  |  | — |  |  | — |  |  | 3.6 |
Additional paid-in capital | 3,123.0 |  |  | 157.2 |  |  | (157.2) |  |  | 3,123.0 |
Retained earnings | 3,430.8 |  |  | — |  |  | — |  |  | 3,430.8 |
Accumulated other comprehensive loss | (437.6) |  |  | (21.3) |  |  | 19.2 |  |  | (439.7) |
Non-controlling interests in consolidated entities | 190.4 |  |  | 346.8 |  |  | — |  |  | 537.2 |
Total equity | 6,310.2 |  |  | 482.7 |  |  | (138.0) |  |  | 6,654.9 |
Total liabilities and equity | $ | 14,993.2 |  |  | $ | 6,695.8 |  |  | $ | (596.6) |  |  | $ | 21,092.4 |
| As of December 31, 2021
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 2,469.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,469.5 |
Cash and cash equivalents held at Consolidated Funds | — |  |  | 147.8 |  |  | — |  |  | 147.8 |
Restricted cash | 5.6 |  |  | — |  |  | — |  |  | 5.6 |
Investments, including performance allocations of $8,133.0 million | 11,022.5 |  |  | — |  |  | (190.5) |  |  | 10,832.0 |
Investments of Consolidated Funds | — |  |  | 6,661.0 |  |  | — |  |  | 6,661.0 |
Due from affiliates and other receivables, net | 384.9 |  |  | — |  |  | (5.3) |  |  | 379.6 |
Due from affiliates and other receivables of Consolidated Funds, net | — |  |  | 138.8 |  |  | — |  |  | 138.8 |
Fixed assets, net | 143.9 |  |  | — |  |  | — |  |  | 143.9 |
Lease right-of-use assets, net | 361.1 |  |  | — |  |  | — |  |  | 361.1 |
Deposits and other | 61.3 |  |  | 0.4 |  |  | — |  |  | 61.7 |
Intangible assets, net | 34.9 |  |  | — |  |  | — |  |  | 34.9 |
Deferred tax assets | 14.5 |  |  | — |  |  | — |  |  | 14.5 |
Total assets | $ | 14,498.2 |  |  | $ | 6,948.0 |  |  | $ | (195.8) |  |  | $ | 21,250.4 |
Liabilities and equity |  |  |  |  |  |  |
Debt obligations | $ | 2,071.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,071.6 |
Loans payable of Consolidated Funds | — |  |  | 5,890.0 |  |  | — |  |  | 5,890.0 |
Accounts payable, accrued expenses and other liabilities | 379.7 |  |  | — |  |  | — |  |  | 379.7 |
Accrued compensation and benefits | 4,955.0 |  |  | — |  |  | — |  |  | 4,955.0 |
Due to affiliates | 388.1 |  |  | — |  |  | — |  |  | 388.1 |
Deferred revenue | 120.8 |  |  | — |  |  | — |  |  | 120.8 |
Deferred tax liabilities | 487.1 |  |  | — |  |  | — |  |  | 487.1 |
Other liabilities of Consolidated Funds | — |  |  | 684.0 |  |  | (0.1) |  |  | 683.9 |
Lease liabilities | 537.8 |  |  | — |  |  | — |  |  | 537.8 |
Accrued giveback obligations | 30.2 |  |  | — |  |  | — |  |  | 30.2 |
Total liabilities | 8,970.3 |  |  | 6,574.0 |  |  | (0.1) |  |  | 15,544.2 |
Common stock | 3.6 |  |  | — |  |  | — |  |  | 3.6 |
Additional paid-in capital | 2,717.6 |  |  | 198.6 |  |  | (198.6) |  |  | 2,717.6 |
Retained earnings | 2,805.3 |  |  | — |  |  | — |  |  | 2,805.3 |
Accumulated other comprehensive income (loss) | (245.7) |  |  | (4.7) |  |  | 2.9 |  |  | (247.5) |
Non-controlling interests in consolidated entities | 247.1 |  |  | 180.1 |  |  | — |  |  | 427.2 |
Total equity | 5,527.9 |  |  | 374.0 |  |  | (195.7) |  |  | 5,706.2 |
Total liabilities and equity | $ | 14,498.2 |  |  | $ | 6,948.0 |  |  | $ | (195.8) |  |  | $ | 21,250.4 |
Supplemental results of operations |
| Three Months Ended September 30, 2022
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Revenues |  |  |  |  |  |  |
Fund management fees | $ | 542.1 |  |  | $ | — |  |  | $ | (6.2) |  |  | $ | 535.9 |
Incentive fees | 15.2 |  |  | — |  |  | (0.1) |  |  | 15.1 |
Investment income |  |  |  |  |  |  |
Performance allocations | 297.8 |  |  | — |  |  | 0.3 |  |  | 298.1 |
Principal investment income | 127.6 |  |  | — |  |  | (3.4) |  |  | 124.2 |
Total investment income | 425.4 |  |  | — |  |  | (3.1) |  |  | 422.3 |
Interest and other income | 37.6 |  |  | — |  |  | (2.1) |  |  | 35.5 |
Interest and other income of Consolidated Funds | — |  |  | 79.7 |  |  | — |  |  | 79.7 |
Total revenues | 1,020.3 |  |  | 79.7 |  |  | (11.5) |  |  | 1,088.5 |
Expenses |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |
Cash-based compensation and benefits | 251.4 |  |  | — |  |  | — |  |  | 251.4 |
Equity-based compensation | 54.2 |  |  | — |  |  | — |  |  | 54.2 |
Performance allocations and incentive fee related compensation | 163.5 |  |  | — |  |  | — |  |  | 163.5 |
Total compensation and benefits | 469.1 |  |  | — |  |  | — |  |  | 469.1 |
General, administrative and other expenses | 149.3 |  |  | — |  |  | (0.1) |  |  | 149.2 |
Interest | 27.3 |  |  | — |  |  | — |  |  | 27.3 |
Interest and other expenses of Consolidated Funds | — |  |  | 62.0 |  |  | (8.3) |  |  | 53.7 |
Other non-operating expense | 0.3 |  |  | — |  |  | — |  |  | 0.3 |
Total expenses | 646.0 |  |  | 62.0 |  |  | (8.4) |  |  | 699.6 |
Other income (loss) |  |  |  |  |  |  |
Net investment loss of Consolidated Funds | — |  |  | (30.3) |  |  | — |  |  | (30.3) |
Income (loss) before provision for income taxes | 374.3 |  |  | (12.6) |  |  | (3.1) |  |  | 358.6 |
Provision for income taxes | 76.2 |  |  | — |  |  | — |  |  | 76.2 |
Net income (loss) | 298.1 |  |  | (12.6) |  |  | (3.1) |  |  | 282.4 |
Net income attributable to non-controlling interests in consolidated entities | 17.3 |  |  | — |  |  | (15.7) |  |  | 1.6 |
Net income (loss) attributable to The Carlyle Group Inc. | $ | 280.8 |  |  | $ | (12.6) |  |  | $ | 12.6 |  |  | $ | 280.8 |
| Nine Months Ended September 30, 2022
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Revenues |  |  |  |  |  |  |
Fund management fees | $ | 1,552.0 |  |  | $ | — |  |  | $ | (19.1) |  |  | $ | 1,532.9 |
Incentive fees | 42.7 |  |  | — |  |  | (0.1) |  |  | 42.6 |
Investment income |  |  |  |  |  |  |
Performance allocations | 1,350.7 |  |  | — |  |  | (4.5) |  |  | 1,346.2 |
Principal investment income | 463.9 |  |  | — |  |  | 36.6 |  |  | 500.5 |
Total investment income | 1,814.6 |  |  | — |  |  | 32.1 |  |  | 1,846.7 |
Interest and other income | 107.8 |  |  | — |  |  | (15.3) |  |  | 92.5 |
Interest and other income of Consolidated Funds | — |  |  | 204.6 |  |  | — |  |  | 204.6 |
Total revenues | 3,517.1 |  |  | 204.6 |  |  | (2.4) |  |  | 3,719.3 |
Expenses |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |
Cash-based compensation and benefits | 779.7 |  |  | — |  |  | — |  |  | 779.7 |
Equity-based compensation | 139.3 |  |  | — |  |  | — |  |  | 139.3 |
Performance allocations and incentive fee related compensation | 741.2 |  |  | — |  |  | — |  |  | 741.2 |
Total compensation and benefits | 1,660.2 |  |  | — |  |  | — |  |  | 1,660.2 |
General, administrative and other expenses | 387.1 |  |  | — |  |  | 0.1 |  |  | 387.2 |
Interest | 82.0 |  |  | — |  |  | — |  |  | 82.0 |
Interest and other expenses of Consolidated Funds | — |  |  | 166.0 |  |  | (28.9) |  |  | 137.1 |
Other non-operating expense | 0.8 |  |  | — |  |  | — |  |  | 0.8 |
Total expenses | 2,130.1 |  |  | 166.0 |  |  | (28.8) |  |  | 2,267.3 |
Other income (loss) |  |  |  |  |  |  |
Net investment loss of Consolidated Funds | — |  |  | (51.0) |  |  | — |  |  | (51.0) |
Income (loss) before provision for income taxes | 1,387.0 |  |  | (12.4) |  |  | 26.4 |  |  | 1,401.0 |
Provision for income taxes | 274.9 |  |  | — |  |  | — |  |  | 274.9 |
Net income (loss) | 1,112.1 |  |  | (12.4) |  |  | 26.4 |  |  | 1,126.1 |
Net income attributable to non-controlling interests in consolidated entities | 14.3 |  |  | — |  |  | 14.0 |  |  | 28.3 |
Net income (loss) attributable to The Carlyle Group Inc. | $ | 1,097.8 |  |  | $ | (12.4) |  |  | $ | 12.4 |  |  | $ | 1,097.8 |
| Three Months Ended September 30, 2021
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Revenues |  |  |  |  |  |  |
Fund management fees | $ | 414.3 |  |  | $ | — |  |  | $ | (6.8) |  |  | $ | 407.5 |
Incentive fees | 13.1 |  |  | — |  |  | — |  |  | 13.1 |
Investment income |  |  |  |  |  |  |
Performance allocations | 974.5 |  |  | — |  |  | — |  |  | 974.5 |
Principal investment income | 165.2 |  |  | — |  |  | (4.8) |  |  | 160.4 |
Total investment income | 1,139.7 |  |  | — |  |  | (4.8) |  |  | 1,134.9 |
Interest and other income | 27.0 |  |  | — |  |  | (5.1) |  |  | 21.9 |
Interest and other income of Consolidated Funds | — |  |  | 62.1 |  |  | — |  |  | 62.1 |
Total revenues | 1,594.1 |  |  | 62.1 |  |  | (16.7) |  |  | 1,639.5 |
Expenses |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |
Cash-based compensation and benefits | 224.9 |  |  | — |  |  | — |  |  | 224.9 |
Equity-based compensation | 42.4 |  |  | — |  |  | — |  |  | 42.4 |
Performance allocations and incentive fee related compensation | 495.2 |  |  | — |  |  | — |  |  | 495.2 |
Total compensation and benefits | 762.5 |  |  | — |  |  | — |  |  | 762.5 |
General, administrative and other expenses | 99.6 |  |  | — |  |  | — |  |  | 99.6 |
Interest | 27.9 |  |  | — |  |  | — |  |  | 27.9 |
Interest and other expenses of Consolidated Funds | — |  |  | 51.9 |  |  | (7.3) |  |  | 44.6 |
Other non-operating income | 3.5 |  |  | — |  |  | — |  |  | 3.5 |
Total expenses | 893.5 |  |  | 51.9 |  |  | (7.3) |  |  | 938.1 |
Other income |  |  |  |  |  |  |
Net investment loss of Consolidated Funds | — |  |  | (0.1) |  |  | — |  |  | (0.1) |
Income before provision for income taxes | 700.6 |  |  | 10.1 |  |  | (9.4) |  |  | 701.3 |
Provision for income taxes | 153.9 |  |  | — |  |  | — |  |  | 153.9 |
Net income | 546.7 |  |  | 10.1 |  |  | (9.4) |  |  | 547.4 |
Net income attributable to non-controlling interests in consolidated entities | 13.9 |  |  | — |  |  | 0.7 |  |  | 14.6 |
Net income attributable to The Carlyle Group Inc. | 532.8 |  |  | 10.1 |  |  | (10.1) |  |  | 532.8 |
| Nine Months Ended September 30, 2021
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Revenues |  |  |  |  |  |  |
Fund management fees | $ | 1,201.5 |  |  | $ | — |  |  | $ | (18.6) |  |  | $ | 1,182.9 |
Incentive fees | 33.0 |  |  | — |  |  | — |  |  | 33.0 |
Investment income |  |  |  |  |  |  |
Performance allocations | 4,841.3 |  |  | — |  |  | — |  |  | 4,841.3 |
Principal investment income | 503.1 |  |  | — |  |  | (25.9) |  |  | 477.2 |
Total investment income | 5,344.4 |  |  | — |  |  | (25.9) |  |  | 5,318.5 |
Interest and other income | 79.3 |  |  | — |  |  | (16.0) |  |  | 63.3 |
Interest and other income of Consolidated Funds | — |  |  | 185.3 |  |  | — |  |  | 185.3 |
Total revenues | 6,658.2 |  |  | 185.3 |  |  | (60.5) |  |  | 6,783.0 |
Expenses |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |
Cash-based compensation and benefits | 685.2 |  |  | — |  |  | — |  |  | 685.2 |
Equity-based compensation | 122.0 |  |  | — |  |  | — |  |  | 122.0 |
Performance allocations and incentive fee related compensation | 2,355.8 |  |  | — |  |  | — |  |  | 2,355.8 |
Total compensation and benefits | 3,163.0 |  |  | — |  |  | — |  |  | 3,163.0 |
General, administrative and other expenses | 300.4 |  |  | — |  |  | — |  |  | 300.4 |
Interest | 76.4 |  |  | — |  |  | — |  |  | 76.4 |
Interest and other expenses of Consolidated Funds | — |  |  | 162.6 |  |  | (29.1) |  |  | 133.5 |
Other non-operating income | 1.0 |  |  | — |  |  | — |  |  | 1.0 |
Total expenses | 3,540.8 |  |  | 162.6 |  |  | (29.1) |  |  | 3,674.3 |
Other income |  |  |  |  |  |  |
Net investment gain of Consolidated Funds | — |  |  | 9.6 |  |  | — |  |  | 9.6 |
Income before provision for income taxes | 3,117.4 |  |  | 32.3 |  |  | (31.4) |  |  | 3,118.3 |
Provision for income taxes | 733.5 |  |  | — |  |  | — |  |  | 733.5 |
Net income | 2,383.9 |  |  | 32.3 |  |  | (31.4) |  |  | 2,384.8 |
Net income attributable to non-controlling interests in consolidated entities | 56.8 |  |  | — |  |  | 0.9 |  |  | 57.7 |
Net income attributable to The Carlyle Group Inc. | 2,327.1 |  |  | 32.3 |  |  | (32.3) |  |  | 2,327.1 |
Supplemental statement of cash flows |
| Nine Months Ended September 30,
| 2022 |  | 2021
| (Dollars in millions)
Cash flows from operating activities |  |  |
Net income | $ | 1,112.1 |  |  | $ | 2,383.9 |
Adjustments to reconcile net income to net cash flows from operating activities: |  |  |
Depreciation and amortization | 102.7 |  |  | 40.5 |
Right-of-use asset impairment, net of broker fees | — |  |  | 24.8 |
Equity-based compensation | 139.3 |  |  | 122.0 |
Non-cash performance allocations and incentive fees | 179.4 |  |  | (1,662.3) |
Non-cash principal investment income | (434.9) |  |  | (470.7) |
Other non-cash amounts | (27.4) |  |  | 20.7 |
Purchases of investments | (582.4) |  |  | (250.9) |
Proceeds from the sale of investments | 410.2 |  |  | 559.1 |
Payments of contingent consideration | (5.7) |  |  | (50.0) |
Change in deferred taxes, net | (2.3) |  |  | 449.1 |
Change in due from affiliates and other receivables | (62.0) |  |  | (21.1) |
Change in deposits and other | (12.8) |  |  | (23.3) |
Change in accounts payable, accrued expenses and other liabilities | (27.7) |  |  | 90.9 |
Change in accrued compensation and benefits | (265.3) |  |  | 17.3 |
Change in due to affiliates | 2.4 |  |  | 1.4 |
Change in lease right-of-use asset and lease liability | (7.0) |  |  | 5.9 |
Change in deferred revenue | 274.9 |  |  | 247.6 |
Net cash provided by operating activities | 793.5 |  |  | 1,484.9 |
Cash flows from investing activities |  |  |
Purchases of corporate treasury investments, net | (69.6) |  |  | — |
Purchases of fixed assets, net | (25.0) |  |  | (27.0) |
Purchase of Abingworth, net of cash acquired | (150.2) |  |  | — |
Purchase of CBAM intangibles and investments, net | (618.4) |  |  | — |
Proceeds from sale of MRE, net of cash sold | — |  |  | 5.9 |
Proceeds from sale of Brazil management entity, net of cash sold | — |  |  | 3.3 |
Net cash used in investing activities | (863.2) |  |  | (17.8) |
Cash flows from financing activities |  |  |
Borrowings under credit facilities | — |  |  | 70.0 |
Issuance of 4.625% subordinated notes due 2061, net of financing costs | — |  |  | 484.1 |
Payments on CLO borrowings | (8.9) |  |  | (231.5) |
Proceeds from CLO borrowings, net of financing costs | 55.2 |  |  | 87.5 |
Payments of contingent consideration | — |  |  | (0.1) |
Dividends to common stockholders | (325.4) |  |  | (266.7) |
Payment of deferred consideration for Carlyle Holdings units | (68.8) |  |  | (68.8) |
Contributions from non-controlling interest holders | 7.2 |  |  | 13.1 |
Distributions to non-controlling interest holders | (52.5) |  |  | (56.3) |
Common shares issued for performance allocations | 38.9 |  |  | — |
Common shares repurchased | (146.9) |  |  | (84.5) |
Change in due to/from affiliates financing activities | (471.6) |  |  | 21.8 |
Net cash used in financing activities | (972.8) |  |  | (31.4) |
Effect of foreign exchange rate changes | (70.1) |  |  | (19.4) |
Increase (decrease) in cash, cash equivalents and restricted cash | (1,112.6) |  |  | 1,416.3 |
Cash, cash equivalents and restricted cash, beginning of period | 2,475.1 |  |  | 989.6 |
Cash, cash equivalents and restricted cash, end of period | $ | 1,362.5 |  |  | $ | 2,405.9 |
Supplemental non-cash disclosures |  |  |
Issuance of common shares related to the acquisition of CBAM and Abingworth | $ | 219.5 |  |  | $ | — |
Reconciliation of cash, cash equivalents and restricted cash, end of period: |  |  |
Cash and cash equivalents | $ | 1,361.9 |  |  | $ | 2,399.0 |
Restricted cash | 0.6 |  |  | 6.9 |
Total cash, cash equivalents and restricted cash, end of period | $ | 1,362.5 |  |  | $ | 2,405.9 |
Cash and cash equivalents held at Consolidated Funds | $ | 177.2 |  |  | $ | 134.8 |

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Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration