10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2011 | |||
Consolidated Statements Of Operations | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Revenues | |||
| Management and Advisory Fees | $ 1,811,750 | 1,584,748 | 1,482,226 |
| Performance Fees | |||
| Realized | 229,006 | 366,721 | 70,492 |
| Unrealized | 953,654 | 571,113 | 150,598 |
| Total Performance Fees | 1,182,660 | 937,834 | 221,090 |
| Investment Income (Loss) | |||
| Realized | 87,542 | 29,157 | 44,320 |
| Unrealized | 125,781 | 532,004 | (3,716) |
| Total Investment Income (Loss) | 213,323 | 561,161 | 40,604 |
| Interest and Dividend Revenue | 37,427 | 36,218 | 22,680 |
| Other | 7,416 | (619) | 7,099 |
| Total Revenues | 3,252,576 | 3,119,342 | 1,773,699 |
| Expenses | |||
| Compensation | 2,421,712 | 3,253,226 | 3,778,686 |
| Performance Fee Compensation | |||
| Performance Fee Compensation Realized | 99,527 | 128,316 | 25,102 |
| Performance Fee Compensation Unrealized | 217,186 | 228,647 | (26,182) |
| Total Compensation and Benefits | 2,738,425 | 3,610,189 | 3,777,606 |
| General, Administrative and Other | 566,313 | 466,358 | 443,573 |
| Interest Expense | 57,824 | 41,229 | 13,384 |
| Fund Expenses | 25,507 | 26,214 | 7,296 |
| Total Expenses | 3,388,069 | 4,143,990 | 4,241,859 |
| Other Income | |||
| Reversal of Tax Receivable Agreement Liability | 197,816 | ||
| Net Gains from Fund Investment Activities | 14,935 | 501,994 | 176,694 |
| Total Other Income | 212,751 | 501,994 | 176,694 |
| Income (Loss) Before Provision (Benefit) for Taxes | 77,258 | (522,654) | (2,291,466) |
| Provision for Taxes | 345,711 | 84,669 | 99,230 |
| Net Loss | (268,453) | (607,323) | (2,390,696) |
| Net Income (Loss) Attributable to Redeemable Non-Controlling Interests in Consolidated Entities | (32,526) | 84,837 | 131,097 |
| Net Income (Loss) Attributable to Non-Controlling Interests in Consolidated Entities | 15,610 | 346,312 | (14,328) |
| Net Loss Attributable to Non-Controlling Interests in Blackstone Holdings | (83,234) | (668,444) | (1,792,174) |
| Net Loss Attributable to The Blackstone Group L.P. | (168,303) | (370,028) | (715,291) |
| Net Loss Per Common Unit | |||
| Common Units, Basic and Diluted | (0.35) | (1.02) | |
| Common Units Entitled to Priority Distributions, Basic and Diluted | (2.46) | ||
| Common Units Not Entitled to Priority Distributions, Basic and Diluted | (3.71) | ||
| Weighted-Average Common Units Outstanding | |||
| Common Units, Basic and Diluted | 475,582,718 | 364,021,369 | |
| Common Units Entitled to Priority Distributions, Basic and Diluted | 285,163,954 | ||
| Common Units Not Entitled to Priority Distributions, Basic and Diluted | 3,826,233 | ||
| Revenues Earned from Affiliates | |||
| Management and Advisory Fees | 317,675 | 189,006 | 134,284 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2011 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Operating Activities | |||
| Net Income (Loss) | $ (268,453) | (607,323) | (2,390,696) |
| Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by (Used in) Operating Activities: | |||
| Blackstone Funds Related: | |||
| Unrealized Depreciation (Appreciation) on Investments Allocable to Non-Controlling Interests in Consolidated Entities | 59,973 | (720,716) | (267,433) |
| Net Realized (Gains) Losses on Investments | (540,353) | (337,932) | 135,243 |
| Changes in Unrealized (Gains) Losses on Investments Allocable to The Blackstone Group L.P. | (116,183) | (460,450) | 15,978 |
| Unrealized Depreciation (Appreciation) on Hedge Activities | (1,283) | (1,952) | 2,036 |
| Non-Cash Performance Fees | (714,830) | (379,156) | (269,152) |
| Non-Cash Performance Fee Compensation | 316,713 | 356,962 | (1,079) |
| Equity-Based Compensation Expense | 1,396,062 | 2,440,148 | 3,048,108 |
| Amortization of Intangibles | 207,591 | 162,051 | 158,048 |
| Other Non-Cash Amounts Included in Net Income (Loss) | 164,359 | 20,591 | 25,243 |
| Cash Flows Due to Changes in Operating Assets and Liabilities: | |||
| Cash Held by Blackstone Funds and Other | 545,637 | (447,084) | 821,240 |
| Cash Relinquished with Continuing Liquidation of Partnership | (110,607) | (4,398) | |
| Accounts Receivable | 116,714 | (108,162) | 35,050 |
| Reverse Repurchase Agreements | 41,940 | (181,425) | |
| Due from Affiliates | (31,403) | (68,761) | 467,449 |
| Other Assets | (19,233) | (20,802) | 82,386 |
| Accrued Compensation and Benefits | (273,281) | (101,377) | (94,931) |
| Securities Sold, Not Yet Purchased | 22,407 | 114,683 | (699) |
| Accounts Payable, Accrued Expenses and Other Liabilities | (203,419) | 12,535 | (987,241) |
| Repurchase Agreements | 39,177 | 62,672 | |
| Due to Affiliates | (3,439) | 3,286 | (261,685) |
| Treasury Cash Management Strategies: | |||
| Investments Purchased | (3,198,632) | (2,246,082) | (1,196,636) |
| Cash Proceeds from Sale of Investments | 3,486,836 | 1,930,489 | 643,348 |
| Blackstone Funds Related: | |||
| Investments Purchased | (6,113,038) | (4,411,114) | (418,608) |
| Cash Proceeds from Sale or Pay Down of Investments | 6,296,358 | 4,621,432 | 865,540 |
| Net Cash Provided by (Used in) Operating Activities | 1,099,613 | (371,885) | 411,509 |
| Investing Activities | |||
| Purchase of Furniture, Equipment and Leasehold Improvements | (36,484) | (54,160) | (23,627) |
| Net Cash Paid for Acquisition of Management Contracts | (23,744) | (21,886) | |
| Changes in Restricted Cash | 330 | (143) | 4,801 |
| Net Cash Used in Investing Activities | (59,898) | (76,189) | (18,826) |
| Financing Activities | |||
| Distributions to Non-Controlling Interest Holders in Consolidated Entities | (608,287) | (113,872) | (92,531) |
| Contributions from Non-Controlling Interest Holders in Consolidated Entities | 1,183,952 | 262,006 | 205,558 |
| Purchase of Interests from Certain Non-Controlling Interest Holders | (466) | (573) | (10,033) |
| Net Delivery of Vested Common Units and Repurchase of Common and Partnership Unit | (36,711) | (25,154) | (56,685) |
| Proceeds from Loans Payable | 13,301 | 415,828 | 593,989 |
| Repayment of Loans Payable | (27,424) | (43,266) | (323,993) |
| Distributions to Unitholders | (702,832) | (599,390) | (260,629) |
| Blackstone Funds Related: | |||
| Proceeds from Loans Payable | 342,133 | 392,071 | |
| Repayment of Loans Payable | (1,037,181) | (203,026) | |
| Net Cash Provided by (Used in) Financing Activities | (873,515) | 84,624 | 55,676 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | (77) | (25) | |
| Net Increase (Decrease) in Cash and Cash Equivalents | 166,123 | (363,475) | 448,359 |
| Cash and Cash Equivalents, Beginning of Period | 588,621 | 952,096 | |
| Cash and Cash Equivalents, End of Period | 754,744 | 588,621 | 952,096 |
| Supplemental Disclosure of Cash Flows Information | |||
| Payments for Interest | 81,407 | 3,554 | 5,097 |
| Payments for Income Taxes | 43,945 | 57,672 | 52,035 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | |||
| Net Activities Related to Capital Transactions of Consolidated Blackstone Funds | (2,775) | 16,670 | 6,261 |
| Net Assets Related to the Consolidation of CLO Vehicles | 97,773 | 406,916 | |
| Reclassification of Capital Due to Non-Controlling Interest Holders | (73,862) | ||
| Transfer Due to Reorganization | 100,497 | ||
| In-kind Redemption of Capital | (52,467) | (28,098) | (907) |
| In-kind Contribution of Capital | 8,705 | 54,289 | 907 |
| Notes Issuance Costs | 2,000 | 4,761 | |
| Transfer of Interests to Non-Controlling Interest Holders | 2,614 | (21,996) | 1,991 |
| Change in The Blackstone Group L.P.'s Ownership Interest | (5,893) | (19,346) | |
| Net Settlement of Vested Common Units | 186,644 | 198,739 | 199,447 |
| Conversion of Blackstone Holdings Units to Common Units | 228,722 | 252,113 | 109,748 |
| Exchange of Founders' and Non-Controlling Interest Holders' Interests in Blackstone Holdings: | |||
| Deferred Tax Asset | (300,471) | (351,183) | (142,982) |
| Due to Affiliates | 242,080 | 283,290 | 121,535 |
| Partners' Capital | 58,391 | 67,893 | 21,447 |
| Issuance of New Units | 44,500 | 47,163 | |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BLACKSTONE INC. | ||
Ticker: BX Fiscal Year: 2011 | ||
Consolidated Statements Of Financial Condition | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| Assets | ||
| Cash and Cash Equivalents | $ 754,744 | 588,621 |
| Cash Held by Blackstone Funds and Other | 724,762 | 790,399 |
| Investments (including assets pledged of $101,298 and $62,670 at December 31, 2011 and December 31, 2010, respectively) | 15,128,299 | 11,974,472 |
| Accounts Receivable | 406,140 | 495,893 |
| Reverse Repurchase Agreements | 139,485 | 181,425 |
| Due from Affiliates | 860,514 | 795,395 |
| Intangible Assets, Net | 595,488 | 779,311 |
| Goodwill | 1,703,602 | 1,703,602 |
| Other Assets | 337,396 | 293,194 |
| Deferred Tax Assets | 1,258,699 | 1,242,293 |
| Total Assets | 21,909,129 | 18,844,605 |
| Liabilities and Partners' Capital | ||
| Loans Payable | 8,867,568 | 7,198,898 |
| Due to Affiliates | 1,811,468 | 1,762,287 |
| Accrued Compensation and Benefits | 903,260 | 821,568 |
| Securities Sold, Not Yet Purchased | 143,825 | 116,688 |
| Repurchase Agreements | 101,849 | 62,672 |
| Accounts Payable, Accrued Expenses and Other Liabilities | 828,873 | 629,135 |
| Total Liabilities | 12,656,843 | 10,591,248 |
| Commitments and Contingencies | ||
| Redeemable Non-Controlling Interests in Consolidated Entities | 585,606 | 600,836 |
| Partners' Capital | ||
| Partners' Capital (common units: 489,430,907 issued and outstanding as of December 31, 2011; 416,092,022 issued and outstanding as of December 31, 2010) | 4,281,841 | 3,888,211 |
| Appropriated Partners' Capital | 386,864 | 470,583 |
| Accumulated Other Comprehensive Income | 1,958 | 4,302 |
| Non-Controlling Interests in Consolidated Entities | 1,535,497 | 870,908 |
| Non-Controlling Interests in Blackstone Holdings | 2,460,520 | 2,418,517 |
| Total Partners' Capital | 8,666,680 | 7,652,521 |
| Total Liabilities and Partners' Capital | 21,909,129 | 18,844,605 |
| External Links | |
| BLACKSTONE INC. (BX) Fiscal Year 2011 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |