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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 158.6 $ 98.8
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 46.9 45.3
Equity-based compensation 103.5 108.3
Non-cash performance allocations and incentive fees, net 15.0 190.9
Non-cash principal investment income 72.7 (70.0)
Other non-cash amounts 12.6 (2.9)
Consolidated Funds related:    
Realized/unrealized (gain) loss on investments of Consolidated Funds (7.0) (82.7)
Realized/unrealized (gain) loss from loans payable of Consolidated Funds 0.9 89.7
Purchases of investments by Consolidated Funds (2,425.5) (1,477.3)
Proceeds from sales and settlements of investments by Consolidated Funds 1,430.8 1,276.3
Non-cash interest income, net (4.1) (6.7)
Change in cash and cash equivalents held at Consolidated Funds 270.9 (80.0)
Change in other receivables held at Consolidated Funds 8.3 (65.0)
Change in other liabilities held at Consolidated Funds (2.5) 227.9
Purchases of investments (78.3) (145.1)
Proceeds from the sale of investments 144.8 102.1
Payments of contingent consideration (1.0) (1.5)
Changes in deferred taxes, net (29.4) (47.1)
Change in due from affiliates and other receivables 10.7 6.7
Change in deposits and other (10.8) (19.7)
Change in accounts payable, accrued expenses and other liabilities (25.4) 41.5
Change in accrued compensation and benefits (327.7) (365.6)
Change in due to affiliates 6.5 (2.2)
Change in lease right-of-use assets and lease liabilities (2.8) (2.2)
Change in deferred revenue 280.2 251.6
Net cash (used in) provided by operating activities (352.1) 71.1
Cash flows from investing activities    
Purchases of fixed assets, net (16.7) (14.2)
Net cash used in investing activities (16.7) (14.2)
Cash flows from financing activities    
Payments on CLO borrowings (14.6) (13.9)
Proceeds from CLO borrowings, net of financing costs 15.1 0.0
Net borrowings on loans payable of Consolidated Funds 559.4 45.3
Dividends to common stockholders (126.4) (126.7)
Payment of deferred consideration for Carlyle Holdings units 0.0 (68.8)
Contributions from non-controlling interest holders 163.0 64.7
Distributions to non-controlling interest holders (164.2) (19.0)
Common shares repurchased and net share settlement of equity-based awards (176.5) (150.0)
Change in due to/from affiliates financing activities 40.8 51.7
Net cash provided by (used in) financing activities 296.6 (216.7)
Effect of foreign exchange rate changes 5.0 (4.4)
Decrease in cash, cash equivalents and restricted cash (67.2) (164.2)
Cash, cash equivalents and restricted cash, beginning of period 1,266.5 1,442.1
Cash, cash equivalents and restricted cash, end of period 1,199.3 1,277.9
Supplemental non-cash disclosures    
Initial consolidation of Consolidated Funds 57.0 0.0
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Cash and cash equivalents 1,190.3 1,276.5
Restricted cash 9.0 1.4
Total cash, cash equivalents and restricted cash, end of period 1,199.3 1,277.9
Cash and cash equivalents held at Consolidated Funds $ 570.9 $ 426.0