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Supplemental Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2024
Condensed Financial Information Disclosure [Abstract] |
Schedule of Supplemental Financial Position |
| As of June 30, 2024
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $914.8 |  | $— |  | $— |  | $914.8
Cash and cash equivalents held at Consolidated Funds | — |  | 1,047.5 |  | — |  | 1,047.5
Restricted cash | 2.3 |  | — |  | — |  | 2.3
Corporate treasury investments | 5.6 |  | — |  | — |  | 5.6
Investments, including performance allocations of $5,667.2 | 9,860.3 |  | — |  | (261.9) |  | 9,598.4
Investments of Consolidated Funds | — |  | 8,428.4 |  | — |  | 8,428.4
Due from affiliates and other receivables, net | 1,022.7 |  | — |  | (307.3) |  | 715.4
Due from affiliates and other receivables of Consolidated Funds, net | — |  | 228.4 |  | — |  | 228.4
Fixed assets, net | 167.5 |  | — |  | — |  | 167.5
Lease right-of-use assets, net | 354.0 |  | — |  | — |  | 354.0
Deposits and other | 71.6 |  | 1.8 |  | — |  | 73.4
Intangible assets, net | 700.2 |  | — |  | — |  | 700.2
Deferred tax assets | 48.2 |  | — |  | — |  | 48.2
Total assets | $13,147.2 |  | $9,706.1 |  | $(569.2) |  | $22,284.1
Liabilities and equity |  |  |  |  |  |  |
Debt obligations | $2,235.2 |  | $— |  | $— |  | $2,235.2
Loans payable of Consolidated Funds | — |  | 8,103.0 |  | (301.9) |  | 7,801.1
Accounts payable, accrued expenses and other liabilities | 371.1 |  | — |  | — |  | 371.1
Accrued compensation and benefits | 4,328.0 |  | — |  | — |  | 4,328.0
Due to affiliates | 208.2 |  | 5.4 |  | (0.1) |  | 213.5
Deferred revenue | 129.6 |  | — |  | — |  | 129.6
Deferred tax liabilities | 26.3 |  | — |  | — |  | 26.3
Other liabilities of Consolidated Funds | — |  | 900.3 |  | — |  | 900.3
Lease liabilities | 505.7 |  | — |  | — |  | 505.7
Accrued giveback obligations | 43.9 |  | — |  | — |  | 43.9
Total liabilities | 7,848.0 |  | 9,008.7 |  | (302.0) |  | 16,554.7
Common stock | 3.6 |  | — |  | — |  | 3.6
Additional paid-in capital | 3,642.6 |  | 281.2 |  | (281.2) |  | 3,642.6
Retained earnings | 1,707.7 |  | — |  | — |  | 1,707.7
Accumulated other comprehensive loss | (326.4) |  | (11.6) |  | 14.0 |  | (324.0)
Non-controlling interests in consolidated entities | 271.7 |  | 427.8 |  | — |  | 699.5
Total equity | 5,299.2 |  | 697.4 |  | (267.2) |  | 5,729.4
Total liabilities and equity | $13,147.2 |  | $9,706.1 |  | $(569.2) |  | $22,284.1
| As of December 31, 2023
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $1,440.3 |  | $— |  | $— |  | $1,440.3
Cash and cash equivalents held at Consolidated Funds | — |  | 346.0 |  | — |  | 346.0
Restricted cash | 1.8 |  | — |  | — |  | 1.8
Investments, including performance allocations of $6,169.9 | 10,104.5 |  | — |  | (149.2) |  | 9,955.3
Investments of Consolidated Funds | — |  | 7,313.9 |  | (60.8) |  | 7,253.1
Due from affiliates and other receivables, net | 1,009.2 |  | — |  | (317.6) |  | 691.6
Due from affiliates and other receivables of Consolidated Funds, net | — |  | 141.0 |  | — |  | 141.0
Fixed assets, net | 161.5 |  | — |  | — |  | 161.5
Lease right-of-use assets, net | 332.2 |  | — |  | — |  | 332.2
Deposits and other | 66.0 |  | 4.6 |  | — |  | 70.6
Intangible assets, net | 766.1 |  | — |  | — |  | 766.1
Deferred tax assets | 16.5 |  | — |  | — |  | 16.5
Total assets | $13,898.1 |  | $7,805.5 |  | $(527.6) |  | $21,176.0
Liabilities and equity |  |  |  |  |  |  |
Debt obligations | $2,281.0 |  | $— |  | $— |  | $2,281.0
Loans payable of Consolidated Funds | — |  | 6,796.4 |  | (309.9) |  | 6,486.5
Accounts payable, accrued expenses and other liabilities | 333.8 |  | — |  | — |  | 333.8
Accrued compensation and benefits | 4,922.2 |  | — |  | — |  | 4,922.2
Due to affiliates | 269.6 |  | 6.3 |  | — |  | 275.9
Deferred revenue | 140.3 |  | — |  | — |  | 140.3
Deferred tax liabilities | 45.3 |  | — |  | — |  | 45.3
Other liabilities of Consolidated Funds | — |  | 374.4 |  | — |  | 374.4
Lease liabilities | 488.1 |  | — |  | — |  | 488.1
Accrued giveback obligations | 44.0 |  | — |  | — |  | 44.0
Total liabilities | 8,524.3 |  | 7,177.1 |  | (309.9) |  | 15,391.5
Common stock | 3.6 |  | — |  | — |  | 3.6
Additional paid-in capital | 3,403.0 |  | 223.8 |  | (223.8) |  | 3,403.0
Retained earnings | 2,082.1 |  | — |  | — |  | 2,082.1
Accumulated other comprehensive loss | (292.7) |  | (10.7) |  | 6.1 |  | (297.3)
Non-controlling interests in consolidated entities | 177.8 |  | 415.3 |  | — |  | 593.1
Total equity | 5,373.8 |  | 628.4 |  | (217.7) |  | 5,784.5
Total liabilities and equity | $13,898.1 |  | $7,805.5 |  | $(527.6) |  | $21,176.0
Schedule of Supplemental Results of Operations |
| Three Months Ended June 30, 2024
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Revenues |  |  |  |  |  |  |
Fund management fees | $540.8 |  | $— |  | $(6.4) |  | $534.4
Incentive fees | 31.6 |  | — |  | (0.3) |  | 31.3
Investment income (loss) |  |  |  |  |  |  |
Performance allocations | 197.3 |  | — |  | 0.9 |  | 198.2
Principal investment income | 90.8 |  | — |  | (2.7) |  | 88.1
Total investment income (loss) | 288.1 |  | — |  | (1.8) |  | 286.3
Interest and other income | 56.3 |  | — |  | (4.2) |  | 52.1
Interest and other income of Consolidated Funds | — |  | 165.6 |  | — |  | 165.6
Total revenues | 916.8 |  | 165.6 |  | (12.7) |  | 1,069.7
Expenses |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |
Cash-based compensation and benefits | 206.3 |  | — |  | — |  | 206.3
Equity-based compensation | 125.2 |  | — |  | — |  | 125.2
Performance allocations and incentive fee related compensation | 144.2 |  | — |  | — |  | 144.2
Total compensation and benefits | 475.7 |  | — |  | — |  | 475.7
General, administrative and other expenses | 187.9 |  | — |  | — |  | 187.9
Interest | 30.4 |  | — |  | — |  | 30.4
Interest and other expenses of Consolidated Funds | — |  | 164.5 |  | (12.4) |  | 152.1
Other non-operating income | (0.3) |  | — |  | — |  | (0.3)
Total expenses | 693.7 |  | 164.5 |  | (12.4) |  | 845.8
Other income (loss) |  |  |  |  |  |  |
Net investment loss of Consolidated Funds | — |  | (5.1) |  | — |  | (5.1)
Income (loss) before provision for income taxes | 223.1 |  | (4.0) |  | (0.3) |  | 218.8
Provision for income taxes | 69.5 |  | — |  | — |  | 69.5
Net income (loss) | 153.6 |  | (4.0) |  | (0.3) |  | 149.3
Net income attributable to non-controlling interests in consolidated entities | 5.4 |  | — |  | (4.3) |  | 1.1
Net income (loss) attributable to The Carlyle Group Inc. | $148.2 |  | $(4.0) |  | $4.0 |  | $148.2
| Six Months Ended June 30, 2024
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Revenues |  |  |  |  |  |  |
Fund management fees | $1,071.0 |  | $— |  | $(13.0) |  | $1,058.0
Incentive fees | 57.8 |  | — |  | (0.3) |  | 57.5
Investment income (loss) |  |  |  |  |  |  |
Performance allocations | 41.5 |  | — |  | (0.3) |  | 41.2
Principal investment income | 170.4 |  | — |  | (9.2) |  | 161.2
Total investment income (loss) | 211.9 |  | — |  | (9.5) |  | 202.4
Interest and other income | 120.2 |  | — |  | (10.5) |  | 109.7
Interest and other income of Consolidated Funds | — |  | 330.5 |  | — |  | 330.5
Total revenues | 1,460.9 |  | 330.5 |  | (33.3) |  | 1,758.1
Expenses |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |
Cash-based compensation and benefits | 428.2 |  | — |  | — |  | 428.2
Equity-based compensation | 233.5 |  | — |  | — |  | 233.5
Performance allocations and incentive fee related compensation | 71.4 |  | — |  | — |  | 71.4
Total compensation and benefits | 733.1 |  | — |  | — |  | 733.1
General, administrative and other expenses | 335.6 |  | — |  | — |  | 335.6
Interest | 61.2 |  | — |  | — |  | 61.2
Interest and other expenses of Consolidated Funds | — |  | 304.0 |  | (27.3) |  | 276.7
Other non-operating income | (0.1) |  | — |  | — |  | (0.1)
Total expenses | 1,129.8 |  | 304.0 |  | (27.3) |  | 1,406.5
Other income (loss) |  |  |  |  |  |  |
Net investment loss of Consolidated Funds | — |  | (12.1) |  | — |  | (12.1)
Income before provision for income taxes | 331.1 |  | 14.4 |  | (6.0) |  | 339.5
Provision for income taxes | 91.4 |  | — |  | — |  | 91.4
Net income | 239.7 |  | 14.4 |  | (6.0) |  | 248.1
Net income attributable to non-controlling interests in consolidated entities | 25.9 |  | — |  | 8.4 |  | 34.3
Net income attributable to The Carlyle Group Inc. | $213.8 |  | $14.4 |  | $(14.4) |  | $213.8
| Three Months Ended June 30, 2023
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Revenues |  |  |  |  |  |  |
Fund management fees | $515.1 |  | $— |  | $(7.3) |  | $507.8
Incentive fees | 20.9 |  | — |  | 0.1 |  | 21.0
Investment loss |  |  |  |  |  |  |
Performance allocations | (245.4) |  | — |  | (1.4) |  | (246.8)
Principal investment loss | (0.6) |  | — |  | (6.6) |  | (7.2)
Total investment loss | (246.0) |  | — |  | (8.0) |  | (254.0)
Interest and other income | 53.6 |  | — |  | (3.4) |  | 50.2
Interest and other income of Consolidated Funds | — |  | 137.1 |  | — |  | 137.1
Total revenues | 343.6 |  | 137.1 |  | (18.6) |  | 462.1
Expenses |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |
Cash-based compensation and benefits | 270.6 |  | — |  | — |  | 270.6
Equity-based compensation | 68.0 |  | — |  | — |  | 68.0
Performance allocations and incentive fee related compensation | (92.2) |  | — |  | — |  | (92.2)
Total compensation and benefits | 246.4 |  | — |  | — |  | 246.4
General, administrative and other expenses | 167.6 |  | — |  | 0.9 |  | 168.5
Interest | 30.7 |  | — |  | — |  | 30.7
Interest and other expenses of Consolidated Funds | — |  | 116.3 |  | (14.2) |  | 102.1
Total expenses | 444.7 |  | 116.3 |  | (13.3) |  | 547.7
Other income (loss) |  |  |  |  |  |  |
Net investment income of Consolidated Funds | — |  | 15.6 |  | — |  | 15.6
Income (loss) before provision for income taxes | (101.1) |  | 36.4 |  | (5.3) |  | (70.0)
Benefit for income taxes | (7.3) |  | — |  | — |  | (7.3)
Net income (loss) | (93.8) |  | 36.4 |  | (5.3) |  | (62.7)
Net income attributable to non-controlling interests in consolidated entities | 4.6 |  | — |  | 31.1 |  | 35.7
Net income (loss) attributable to The Carlyle Group Inc. | $(98.4) |  | $36.4 |  | $(36.4) |  | $(98.4)
| Six Months Ended June 30, 2023
| Consolidated Operating Entities |  | Consolidated Funds |  | Eliminations |  | Consolidated
| (Dollars in millions)
Revenues |  |  |  |  |  |  |
Fund management fees | $1,023.5 |  | $— |  | $(14.9) |  | $1,008.6
Incentive fees | 40.8 |  | — |  | — |  | 40.8
Investment loss |  |  |  |  |  |  |
Performance allocations | (83.1) |  | — |  | (2.9) |  | (86.0)
Principal investment income (loss) | 14.1 |  | — |  | (9.6) |  | 4.5
Total investment loss | (69.0) |  | — |  | (12.5) |  | (81.5)
Interest and other income | 100.2 |  | — |  | (6.0) |  | 94.2
Interest and other income of Consolidated Funds | — |  | 259.0 |  | — |  | 259.0
Total revenues | 1,095.5 |  | 259.0 |  | (33.4) |  | 1,321.1
Expenses |  |  |  |  |  |  |
Compensation and benefits |  |  |  |  |  |  |
Cash-based compensation and benefits | 530.8 |  | — |  | — |  | 530.8
Equity-based compensation | 122.4 |  | — |  | — |  | 122.4
Performance allocations and incentive fee related compensation | 13.5 |  | — |  | — |  | 13.5
Total compensation and benefits | 666.7 |  | — |  | — |  | 666.7
General, administrative and other expenses | 327.0 |  | — |  | 0.7 |  | 327.7
Interest | 60.4 |  | — |  | — |  | 60.4
Interest and other expenses of Consolidated Funds | — |  | 213.5 |  | (17.7) |  | 195.8
Other non-operating expenses | 0.1 |  | — |  | — |  | 0.1
Total expenses | 1,054.2 |  | 213.5 |  | (17.0) |  | 1,250.7
Other income (loss) |  |  |  |  |  |  |
Net investment income of Consolidated Funds | — |  | 19.2 |  | — |  | 19.2
Income before provision for income taxes | 41.3 |  | 64.7 |  | (16.4) |  | 89.6
Provision for income taxes | 27.0 |  | — |  | — |  | 27.0
Net income | 14.3 |  | 64.7 |  | (16.4) |  | 62.6
Net income attributable to non-controlling interests in consolidated entities | 12.0 |  | — |  | 48.3 |  | 60.3
Net income attributable to The Carlyle Group Inc. | $2.3 |  | $64.7 |  | $(64.7) |  | $2.3
Schedule of Supplemental Statement of Cash Flows |
| Six Months Ended June 30,
| 2024 |  | 2023
| (Dollars in millions)
Cash flows from operating activities |  |  |
Net income | $239.7 |  | $14.3
Adjustments to reconcile net income to net cash flows from operating activities: |  |  |
Depreciation and amortization | 90.8 |  | 88.1
Equity-based compensation | 233.5 |  | 122.4
Non-cash performance allocations and incentive fees | 145.8 |  | 295.7
Non-cash principal investment income | (144.5) |  | (0.2)
Other non-cash amounts | (1.5) |  | 19.9
Purchases of investments | (383.0) |  | (144.3)
Proceeds from the sale of investments | 271.1 |  | 141.6
Payments of contingent consideration | (1.5) |  | (68.6)
Change in deferred taxes, net | (42.5) |  | (91.6)
Change in due from affiliates and other receivables | (19.7) |  | (4.4)
Change in deposits and other | (7.8) |  | (49.0)
Change in accounts payable, accrued expenses and other liabilities | 37.1 |  | (39.7)
Change in accrued compensation and benefits | (277.4) |  | (201.6)
Change in due to affiliates | (2.1) |  | (8.4)
Change in lease right-of-use asset and lease liability | (4.0) |  | (5.0)
Change in deferred revenue | (9.8) |  | 5.0
Net cash provided by operating activities | 124.2 |  | 74.2
Cash flows from investing activities |  |  |
Purchases of corporate treasury investments | (5.0) |  | (145.2)
Proceeds from corporate treasury investments | — |  | 122.4
Purchases of fixed assets, net | (31.9) |  | (32.5)
Net cash used in investing activities | (36.9) |  | (55.3)
Cash flows from financing activities |  |  |
Borrowings under credit facilities | 10.4 |  | —
Repayments under credit facilities | (10.4) |  | —
Payments on CLO borrowings | (36.0) |  | (4.5)
Dividends to common stockholders | (252.3) |  | (245.1)
Payment of deferred consideration for Carlyle Holdings units | (68.8) |  | (68.8)
Contributions from non-controlling interest holders | 116.4 |  | 5.2
Distributions to non-controlling interest holders | (45.6) |  | (25.8)
Common shares repurchased and net share settlement of equity awards | (328.3) |  | (160.8)
Change in due to/from affiliates financing activities | 7.3 |  | (13.2)
Net cash used in financing activities | (607.3) |  | (513.0)
Effect of foreign exchange rate changes | (5.0) |  | 8.3
Decrease in cash, cash equivalents and restricted cash | (525.0) |  | (485.8)
Cash, cash equivalents and restricted cash, beginning of period | 1,442.1 |  | 1,361.5
Cash, cash equivalents and restricted cash, end of period | $917.1 |  | $875.7
Reconciliation of cash, cash equivalents and restricted cash, end of period: |  |  |
Cash and cash equivalents | $914.8 |  | $870.3
Restricted cash | 2.3 |  | 5.4
Total cash, cash equivalents and restricted cash, end of period | $917.1 |  | $875.7
Cash and cash equivalents held at Consolidated Funds | $1,047.5 |  | $536.4

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