XML 64 R52.htm IDEA: XBRL DOCUMENT v3.23.1
INVESTMENTS - IHAM Selected Statement of Operations Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Revenues          
Total investment income $ 618       $ 440
Expenses          
Interest expense 139       93
Net realized gains on investments, foreign currency, extinguishment of debt and other transactions (50)       58
Net unrealized gains (losses) on investments and other transactions 10 $ (201) $ (184) $ (143) 3
Total net realized and unrealized gains (losses) on investments and other transactions (40)       61
NET INCREASE IN STOCKHOLDERS’ EQUITY RESULTING FROM OPERATIONS 278       211
Ivy Hill Asset Management, L.P.          
Revenues          
Investment income 256       97
Other income 2       2
Total investment income 258       99
Expenses          
Interest expense 148       30
Distributions to subordinated notes 8       8
Management fees and other expenses 9       8
Total expenses 165       46
Net operating income 93       53
Net realized gains on investments, foreign currency, extinguishment of debt and other transactions (27)       1
Net unrealized gains (losses) on investments and other transactions 23       (35)
Total net realized and unrealized gains (losses) on investments and other transactions (4)       (34)
Net income (loss) 89       19
Less: Net income (loss) attributable to non-controlling interests in Consolidated IHAM Vehicles 23       (9)
NET INCREASE IN STOCKHOLDERS’ EQUITY RESULTING FROM OPERATIONS 66       28
Ivy Hill Asset Management, L.P. | Intersegment Eliminations          
Revenues          
Investment income (70)       (33)
Other income (13)       (9)
Total investment income (83)       (42)
Expenses          
Interest expense 0       0
Distributions to subordinated notes (24)       (23)
Management fees and other expenses (13)       (9)
Total expenses (37)       (32)
Net operating income (46)       (10)
Net realized gains on investments, foreign currency, extinguishment of debt and other transactions 0       0
Net unrealized gains (losses) on investments and other transactions (13)       10
Total net realized and unrealized gains (losses) on investments and other transactions (13)       10
Net income (loss) (59)       0
Less: Net income (loss) attributable to non-controlling interests in Consolidated IHAM Vehicles (59)       0
NET INCREASE IN STOCKHOLDERS’ EQUITY RESULTING FROM OPERATIONS 0       0
Ivy Hill Asset Management, L.P. | Ivy Hill Asset Management, L.P. | Operating Segments          
Revenues          
Investment income 71       33
Other income 14       10
Total investment income 85       43
Expenses          
Interest expense 19       1
Distributions to subordinated notes 0       0
Management fees and other expenses 4       4
Total expenses 23       5
Net operating income 62       38
Net realized gains on investments, foreign currency, extinguishment of debt and other transactions (10)       1
Net unrealized gains (losses) on investments and other transactions 14       (11)
Total net realized and unrealized gains (losses) on investments and other transactions 4       (10)
Net income (loss) 66       28
Less: Net income (loss) attributable to non-controlling interests in Consolidated IHAM Vehicles 0       0
NET INCREASE IN STOCKHOLDERS’ EQUITY RESULTING FROM OPERATIONS 66       28
Ivy Hill Asset Management, L.P. | Consolidated IHAM Vehicles | Operating Segments          
Revenues          
Investment income 255       97
Other income 1       1
Total investment income 256       98
Expenses          
Interest expense 129       29
Distributions to subordinated notes 32       31
Management fees and other expenses 18       13
Total expenses 179       73
Net operating income 77       25
Net realized gains on investments, foreign currency, extinguishment of debt and other transactions (17)       0
Net unrealized gains (losses) on investments and other transactions 22       (34)
Total net realized and unrealized gains (losses) on investments and other transactions 5       (34)
Net income (loss) 82       (9)
Less: Net income (loss) attributable to non-controlling interests in Consolidated IHAM Vehicles 82       (9)
NET INCREASE IN STOCKHOLDERS’ EQUITY RESULTING FROM OPERATIONS $ 0       $ 0