XML 59 R49.htm IDEA: XBRL DOCUMENT v3.24.1.u1
INVESTMENTS - IHAM Selected Statement of Operations Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Revenues          
Total investment income $ 701       $ 618
Expenses          
Interest expense 159       139
Net realized gains (losses) on investments and foreign currency (18)       (50)
Realized gain on extinguishment of debt (14)       0
Net unrealized gains on investments, foreign currency and other transactions 156 $ 40 $ 287 $ 98 10
Total net realized and unrealized (losses) gains on investments, foreign currency and other transactions 138       (40)
NET INCREASE IN STOCKHOLDERS' EQUITY RESULTING FROM OPERATIONS 449       278
Ivy Hill Asset Management, L.P.          
Revenues          
Investment income 276       256
Management fees and other income 4       2
Total investment income 280       258
Expenses          
Interest expense 160       148
Distributions to subordinated notes 16       8
Management fees and other expenses 9       9
Total expenses 185       165
Net operating income 95       93
Net realized gains (losses) on investments and foreign currency (62)       (37)
Realized gain on extinguishment of debt (1)       10
Net unrealized gains on investments, foreign currency and other transactions 64       23
Total net realized and unrealized (losses) gains on investments, foreign currency and other transactions 1       (4)
Net income 96       89
Less: Net gain attributable to non-controlling interests in Consolidated IHAM Vehicles 14       23
NET INCREASE IN STOCKHOLDERS' EQUITY RESULTING FROM OPERATIONS 82       66
Ivy Hill Asset Management, L.P. | Eliminations          
Revenues          
Investment income (92)       (70)
Management fees and other income (13)       (13)
Total investment income (105)       (83)
Expenses          
Interest expense 0       0
Distributions to subordinated notes (37)       (24)
Management fees and other expenses (13)       (13)
Total expenses (50)       (37)
Net operating income (55)       (46)
Net realized gains (losses) on investments and foreign currency (9)       0
Realized gain on extinguishment of debt 0       0
Net unrealized gains on investments, foreign currency and other transactions 20       (13)
Total net realized and unrealized (losses) gains on investments, foreign currency and other transactions 11       (13)
Net income (44)       (59)
Less: Net gain attributable to non-controlling interests in Consolidated IHAM Vehicles (44)       (59)
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 94       71
Management fees and other income 14       14
Total investment income 108       85
Expenses          
Interest expense 10       19
Distributions to subordinated notes 0       0
Management fees and other expenses 4       4
Total expenses 14       23
Net operating income 94       62
Net realized gains (losses) on investments and foreign currency 5       (10)
Realized gain on extinguishment of debt 0       0
Net unrealized gains on investments, foreign currency and other transactions (17)       14
Total net realized and unrealized (losses) gains on investments, foreign currency and other transactions (12)       4
Net income 82       66
Less: Net gain attributable to non-controlling interests in Consolidated IHAM Vehicles 0       0
NET INCREASE IN STOCKHOLDERS' EQUITY RESULTING FROM OPERATIONS 82       66
Ivy Hill Asset Management, L.P. | Consolidated IHAM Vehicles | Operating Segments          
Revenues          
Investment income 274       255
Management fees and other income 3       1
Total investment income 277       256
Expenses          
Interest expense 150       129
Distributions to subordinated notes 53       32
Management fees and other expenses 18       18
Total expenses 221       179
Net operating income 56       77
Net realized gains (losses) on investments and foreign currency (58)       (27)
Realized gain on extinguishment of debt (1)       10
Net unrealized gains on investments, foreign currency and other transactions 61       22
Total net realized and unrealized (losses) gains on investments, foreign currency and other transactions 2       5
Net income 58       82
Less: Net gain attributable to non-controlling interests in Consolidated IHAM Vehicles 58       82
NET INCREASE IN STOCKHOLDERS' EQUITY RESULTING FROM OPERATIONS $ 0       $ 0