XML 63 R40.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of income (loss) before provision of taxes

The income (loss) before provision for income taxes consists of the following:

	Year Ended December 31,
	2024		2023		2022
	(Dollars in millions)
U.S. domestic income (loss)	$1,163.5		$(857.6)		$1,402.9
Foreign income	230.2		256.7		169.6
Total income (loss) before provision for income taxes	$1,393.7		$(600.9)		$1,572.5

Schedule of provision for income taxes

The provision for income taxes consists of the following:

	Year Ended December 31,
	2024		2023		2022
	(Dollars in millions)
Current
Federal income tax	$132.2		$186.0		$263.6
State and local income tax	27.0		29.1		30.4
Foreign income tax	55.5		46.2		55.6
Total current	214.7		261.3		349.6
Deferred
Federal income tax	102.5		(333.4)		(25.1)
State and local income tax	(0.8)		(26.0)		(3.3)
Foreign income tax	(13.8)		(6.1)		(33.4)
Total deferred	87.9		(365.5)		(61.8)
Total provision (benefit) for income taxes	$302.6		$(104.2)		$287.8

Schedule of effective income tax rate

The following table summarizes the effective income tax rate:

	Year Ended December 31,
	2024		2023		2022
	(Dollars in millions)
Income (loss) before provision for income taxes	$1,393.7		$(600.9)		$1,572.5
Provision (benefit) for income taxes	$302.6		$(104.2)		$287.8
Effective income tax rate	21.71%		17.34%		18.30%

Schedule of reconciliation of provision for income taxes to U.S Federal statutory tax rate

The following

table reconciles the effective income tax rate to the U.S. federal statutory tax rate:

	Year Ended December 31,
	2024		2023		2022
Statutory U.S. federal income tax rate	21.00%		21.00%		21.00%
State and local income taxes	1.80%		1.55%		0.83%
Foreign income taxes(1)	(0.42)%		(1.19)%		(1.75)%
Income passed through to common unitholders and non-controlling interest holders(2)	(0.84)%		3.17%		(0.67)%
Equity-based compensation(3)	0.20%		(2.76)%		(0.67)%
Valuation allowance(4)	—%		(1.02)%		0.30%
Unrecognized tax benefits	(0.13)%		(1.13)%		0.01%
Other adjustments(4)	0.10%		(2.28)%		(0.75)%
Effective income tax rate	21.71%		17.34%		18.30%

(1)All periods are net of foreign tax credits. 2022 includes a tax benefit due to restructuring the ownership of its foreign Global Investment Solutions

business and the impact of amending the Company’s 2020 tax return to claim a foreign tax credit rather than the original filing position claiming a

foreign tax deduction.

(2)Includes income that is not taxable to the Company and its subsidiaries.

(3)Includes the net impact of nondeductible officer compensation expense offset by tax benefits from windfall deductions in each year.

(4)In 2024, the nondeductible officer compensation expense increased the effective tax rate by 1.56% and the tax benefit from windfall deductions

decreased the effective tax rate by 1.37%. 2023 includes updates to the current and/or deferred tax balances related to the filing of the Company’s

2022 tax returns. The gross impact of these changes in estimates to Valuation allowance and Other adjustments was 1.36% and (0.86)%, respectively.

Schedule of tax effects of temporary differences

The following table summarizes the tax effects of the

temporary differences:

	As of December 31,
	2024		2023
	(Dollars in millions)
Deferred tax assets
Federal foreign tax credit carryforward	$47.9		$46.8
State net operating loss carryforwards	5.1		5.7
Tax basis goodwill and intangibles	218.3		240.3
Depreciation and amortization	76.3		61.7
Deferred restricted common unit compensation	83.1		36.5
Lease liabilities	114.7		116.1
Accrued compensation	1,045.8		926.2
Other	106.6		109.8
Deferred tax assets before valuation allowance	1,697.8		1,543.1
Valuation allowance	(62.7)		(62.8)
Total deferred tax assets	$1,635.1		$1,480.3
Deferred tax liabilities(1)
Unrealized appreciation on investments	$1,517.3		$1,333.8
Lease right-of-use assets	87.4		87.7
Basis difference in investments	100.2		48.8
Other	39.6		38.8
Total deferred tax liabilities	$1,744.5		$1,509.1
Net deferred tax assets (liabilities)	$(109.4)		$(28.8)

(1)As of December 31, 2024 and 2023, $1,607.5 million and $1,463.8 million of deferred tax assets were offset and presented as a single deferred tax

liability amount on the Company’s consolidated balance sheet as these deferred tax assets and liabilities relate to the same jurisdiction.

Schedule of reconciliation on the beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits, exclusive of penalties and interest,

is as follows:

	As of December 31,
	2024		2023		2022
	(Dollars in millions)
Balance at January 1	$24.5		$26.2		$20.6
Additions based on tax positions related to current year	1.3		1.5		2.4
Additions for tax positions of prior years	—		1.6		5.3
Reductions for tax position of prior years	(1.2)		(0.2)		(1.6)
Reductions due to lapse of statute of limitations	(0.4)		(4.6)		(0.5)
Reductions due to settlements	(2.9)		—		—
Balance at December 31	$21.3		$24.5		$26.2

X

- Definition

Schedule Of Effective Income Tax Rate

+ References

No definition available.

+ Details

Name:	cg_ScheduleOfEffectiveIncomeTaxRateTableTextBlock
Namespace Prefix:	cg_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration