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Equity-Based Compensation | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Equity-Based Compensation | 14. Equity-Based Compensation The Carlyle Group Inc. Amended and Restated 2012 Equity Incentive Plan (the “Equity Incentive Plan,” initially adopted in May 2012 and as most recently amended and restated on May 29, 2024) is a source of equity-based awards permitting the Company to grant to Carlyle employees, directors and consultants non-qualified options, share appreciation rights, common shares, restricted stock units and other awards based on the Company’s shares of common stock. A total of 58,800,000 shares of common stock are authorized for the grant of awards under the Equity Incentive Plan, of which a total of 26,197,170 shares of the Company’s common stock remain available for grant as of September 30, 2025. A summary of the status of the Company’s non-vested equity-based awards as of September 30, 2025 and a summary of changes for the nine months ended September 30, 2025, are presented below:
Unvested Shares | Performance- Vesting Restricted Stock Units |  | Weighted- Average Grant Date Fair Value |  | Restricted Stock Units |  | Weighted- Average Grant Date Fair Value |  | Unvested Common Shares |  | Weighted- Average Grant Date Fair Value
Balance, December 31, 2024 | 16,940,150 |  | $25.41 |  | 13,966,488 |  | $37.97 |  | 458,906 |  | $39.35
Granted (1) | 437,401 |  | $36.20 |  | 4,692,582 |  | $55.82 |  | 171,891 |  | $56.33
Vested (2) | 5,362,679 |  | $30.83 |  | 6,213,897 |  | $35.54 |  | 232,959 |  | $36.87
Forfeited | 484,304 |  | $23.37 |  | 258,349 |  | $41.76 |  | — |  | $—
Balance, September 30, 2025 | 11,530,568 |  | $23.39 |  | 12,186,824 |  | $46.01 |  | 397,838 |  | $46.04
(1)Includes shares reserved for issuance upon settlement of dividend-equivalent rights carried by certain restricted stock units concurrently with the settlement of the restricted stock units for shares. (2)Includes 4,620,513 shares that were retired in connection with the net share settlement of equity-based awards. The Company paid $257.8 million of taxes related to the net share settlement of equity-based awards during the nine months ended September 30, 2025, which is included within financing activities in the condensed consolidated statements of cash flows. The Company recorded equity-based compensation expense, net of forfeitures, for restricted stock units of $90.7 million and $121.6 million for the three months ended September 30, 2025 and 2024, respectively, with $15.9 million and $23.1 million of corresponding deferred tax benefits, respectively. The Company recorded equity-based compensation expense, net of forfeitures, for restricted stock units of $287.1 million and $355.1 million for the nine months ended September 30, 2025 and 2024, respectively, with $52.6 million and $66.9 million of corresponding deferred tax benefits, respectively. As of September 30, 2025, the total unrecognized equity-based compensation expense related to unvested restricted stock units was $457.8 million, which is expected to be recognized over a weighted-average term of 1.9 years.

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