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: 2010 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Net Income (Loss) Available to Common Stockholders, Basic [Abstract] | |||
| Net Income (Loss) Attributable to Parent [Abstract] | |||
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract] | |||
| Income (Loss) before Cumulative Effect of Change in Accounting Principle [Abstract] | |||
| Income (Loss) before Extraordinary Items and Cumulative Effect of Change in Accounting Principle [Abstract] | |||
| Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest [Abstract] | |||
| Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Cumulative Effects of Changes in Accounting Principles, Noncontrolling Interest [Abstract] | |||
| Operating Income (Loss) [Abstract] | |||
| Revenues | |||
| Management and Advisory Fees | $ 1,584,748 | 1,482,226 | 1,476,357 |
| Performance Fees | |||
| Realized | 366,721 | 70,492 | 38,941 |
| Unrealized | 571,113 | 150,598 | (1,286,261) |
| Total Performance Fees | 937,834 | 221,090 | (1,247,320) |
| Investment Income (Loss) | |||
| Realized | 29,157 | 44,320 | (16,425) |
| Unrealized | 532,004 | (3,716) | (606,452) |
| Total Investment Income (Loss) | 561,161 | 40,604 | (622,877) |
| Interest and Dividend Revenue | 36,218 | 22,680 | 30,879 |
| Other | (619) | 7,099 | 13,600 |
| Total Revenues | 3,119,342 | 1,773,699 | (349,361) |
| Expenses | |||
| Compensation | 3,253,226 | 3,778,686 | 4,062,238 |
| Performance Fee Compensation | |||
| Realized | 128,316 | 25,102 | 4,997 |
| Unrealized | 228,647 | (26,182) | (207,448) |
| Total Compensation and Benefits | 3,610,189 | 3,777,606 | 3,859,787 |
| General, Administrative and Other | 466,358 | 443,573 | 440,776 |
| Interest Expense | 41,229 | 13,384 | 23,008 |
| Fund Expenses | 26,214 | 7,296 | 63,031 |
| Total Expenses | 4,143,990 | 4,241,859 | 4,386,602 |
| Other Income | |||
| Net Gains from Fund Investment Activities | 501,994 | 176,694 | (872,336) |
| Income (Loss) Before Provision (Benefit) for Taxes | (522,654) | (2,291,466) | (5,608,299) |
| Provision (Benefit) for Taxes | 84,669 | 99,230 | (14,145) |
| Net Income (Loss) | (607,323) | (2,390,696) | (5,594,154) |
| Net Income (Loss) Attributable to Redeemable Non-Controlling Interests in Consolidated Entities | 84,837 | 131,097 | (632,495) |
| Net Income (Loss) Attributable to Non-Controlling Interests in Consolidated Entities | 346,312 | (14,328) | (159,828) |
| Net Income (Loss) Attributable to Non-Controlling Interests in Blackstone Holdings | (668,444) | (1,792,174) | (3,638,799) |
| Net Income (Loss) Attributable to The Blackstone Group L.P. | (370,028) | (715,291) | (1,163,032) |
| Net Loss Per Common Unit, Basic and Diluted | |||
| Common Units | (1.02) | ||
| Common Units Entitled to Priority Distributions | (2.46) | (4.32) | |
| Common Units Not Entitled to Priority Distributions | (3.71) | (3.06) | |
| Weighted-Average Common Units Outstanding - Basic and Diluted | |||
| Common Units | 364,021,369 | ||
| Common Units Entitled to Priority Distributions | 285,163,954 | 266,876,031 | |
| Common Units Not Entitled to Priority Distributions | 3,826,233 | 1,501,373 | |
| Revenues Earned from Affiliates | |||
| Management and Advisory Fees | 189,006 | 134,284 | 188,276 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Cash and Cash Equivalents, Period Increase (Decrease) [Abstract] | |||
| Operating Activities | |||
| Net Income (Loss) | $ (607,323) | (2,390,696) | (5,594,154) |
| Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] | |||
| 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 | (720,716) | (267,433) | 907,425 |
| Net Realized (Gains) Losses on Investments | (337,932) | 135,243 | 164,726 |
| Changes in Unrealized (Gains) Losses on Investments Allocable to Blackstone Group | (460,450) | 15,978 | 624,061 |
| Unrealized Depreciation on Hedge Activities | 23,852 | (6,975) | |
| Non-Cash Performance Fees | (379,156) | (269,152) | 1,086,058 |
| Non-Cash Performance Fee Compensation | 356,962 | (1,079) | (202,451) |
| Equity-Based Compensation Expense | 2,440,148 | 3,048,108 | 3,302,617 |
| Amortization of Intangibles | 162,051 | 158,048 | 153,237 |
| Other Non-Cash Amounts Included in Net Income | 20,591 | 25,243 | 19,688 |
| Cash Flows Due to Changes in Operating Assets and Liabilities: | |||
| Cash Held by Blackstone Funds and Other | (447,084) | 821,240 | (743,628) |
| Cash Relinquished with Deconsolidation of Partnership | (4,398) | (1,092) | |
| Accounts Receivable | (108,162) | 35,050 | 45,281 |
| Reverse Repurchase Agreements | (181,425) | ||
| Due from Affiliates | (68,761) | 467,449 | (186,121) |
| Other Assets | (46,606) | 91,397 | 732,192 |
| Accrued Compensation and Benefits | (101,377) | (94,931) | 133,916 |
| Securities Sold, Not Yet Purchased | 114,683 | (699) | (871,592) |
| Accounts Payable, Accrued Expenses and Other Liabilities | 75,207 | (987,241) | 796,897 |
| Due to Affiliates | 3,286 | (261,685) | 182,090 |
| Short Term Investments Purchased | (2,246,082) | (1,196,636) | |
| Cash Proceeds from Sale of Investments | 1,930,489 | 643,348 | |
| Blackstone Funds Related: | |||
| Investments Purchased | (4,411,114) | (418,608) | (9,202,479) |
| Cash Proceeds from Sale or Pay Down of Investments | 4,621,432 | 865,540 | 10,543,764 |
| Net Cash Provided by (Used in) Operating Activities | (371,885) | 411,509 | 1,890,435 |
| Investing Activities | |||
| Purchase of Furniture, Equipment and Leasehold Improvements | (54,160) | (23,627) | (50,113) |
| Cash Paid for Acquisitions, Net of Cash Acquired | (21,886) | (336,571) | |
| Changes in Restricted Cash | (143) | 4,801 | 5,004 |
| Net Cash Used in Investing Activities | (76,189) | (18,826) | (381,680) |
| Financing Activities | |||
| Distributions to Non-Controlling Interest Holders in Consolidated Entities | (113,872) | (92,531) | (2,124,621) |
| Contributions from Non-Controlling Interest Holders in Consolidated Entities | 262,006 | 205,558 | 520,494 |
| Purchase of Interests from Certain Non-Controlling Interest Holders | (573) | (10,033) | (109,834) |
| Net Settlement of Vested Common Units and Repurchase of Common and Holdings Units | (25,154) | (56,685) | (31,863) |
| Proceeds from Loans Payable | 415,828 | 593,989 | 1,172,236 |
| Repayment of Loans Payable | (43,266) | (323,993) | (980,162) |
| Distributions to Unitholders | (599,390) | (260,629) | (319,897) |
| Blackstone Funds Related: | |||
| Proceeds from Loans Payable | 392,071 | ||
| Repayment of Loans Payable | (203,026) | ||
| Net Cash Provided by (Used in) Financing Activities | 84,624 | 55,676 | (1,873,647) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | (25) | ||
| Net Increase (Decrease) in Cash and Cash Equivalents | (363,475) | 448,359 | (364,892) |
| Cash and Cash Equivalents, Beginning of Period | 952,096 | 503,737 | |
| Cash and Cash Equivalents, End of Period | 588,621 | 952,096 | 503,737 |
| Supplemental Disclosure of Cash Flows Information | |||
| Payments for Interest | 3,554 | 5,097 | 22,038 |
| Payments for Income Taxes | 57,672 | 52,035 | 46,880 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | |||
| Net Activities Related to Capital Transactions of Consolidated Blackstone Funds | 16,670 | 6,261 | |
| Net Assets Related to the Consolidation of CLO Vehicles | 406,916 | ||
| Reclassification of Capital Due to Non-Controlling Interest Holders | (73,862) | ||
| Transfer Due to Reorganization | 100,497 | ||
| In-kind Redemption of Capital | (28,098) | (907) | |
| In-kind Contribution of Capital | 54,289 | 907 | |
| Notes Issuance Costs | 2,000 | 4,761 | |
| Transfer of Interests to Non-Controlling Interest Holders | (21,996) | 1,991 | |
| Change in The Blackstone Group L.P.'s Ownership Interest | (19,346) | ||
| Net Settlement of Vested Common Units | 198,739 | 199,447 | 170,626 |
| Conversion of Blackstone Holdings Units to Common Units | 252,113 | 109,748 | 34,471 |
| Reorganization of the Partnership | |||
| Accounts Payable, Accrued Expenses and Other Liabilities | (82,028) | ||
| Non-Controlling Interests in Consolidated Entities | 82,028 | ||
| Exchange of Founders' and Non-Controlling Interest Holders' Interests in Blackstone Holdings: | |||
| Deferred Tax Asset | (351,183) | (142,982) | (34,427) |
| Due to Affiliates | 283,290 | 121,535 | 29,263 |
| Partners' Capital | 67,893 | 21,447 | 5,164 |
| Units Issued Related to Acquisitions | 47,163 | 280,400 | |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BLACKSTONE INC. | ||
Ticker: BX Fiscal Year: 2010 | ||
Consolidated Statements of Financial Condition | ||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2010 | Dec 31, 2009 | |
| Assets | ||
| Cash and Cash Equivalents | $ 588,621 | 952,096 |
| Cash Held by Blackstone Funds and Other ($732,454) | 790,399 | 86,084 |
| Investments ($8,192,327) | 11,974,472 | 3,565,483 |
| Accounts Receivable ($41,148) | 495,893 | 306,307 |
| Reverse Repurchase Agreements | 181,425 | |
| Due from Affiliates ($62,227) | 795,395 | 759,907 |
| Intangible Assets, Net | 779,311 | 919,477 |
| Goodwill | 1,703,602 | 1,703,602 |
| Other Assets ($19,925) | 293,194 | 172,556 |
| Deferred Tax Assets | 1,242,293 | 943,512 |
| Total Assets | 18,844,605 | 9,409,024 |
| Liabilities and Partners' Capital | ||
| Loans Payable ($6,154,179) | 7,198,898 | 657,623 |
| Due to Affiliates ($307,279) | 1,762,287 | 1,410,066 |
| Accrued Compensation and Benefits | 821,568 | 488,945 |
| Securities Sold, Not Yet Purchased | 116,688 | 357 |
| Accounts Payable, Accrued Expenses and Other Liabilities ($388,595) | 691,807 | 308,500 |
| Total Liabilities | 10,591,248 | 2,865,491 |
| Commitments and Contingencies | ||
| Redeemable Non-Controlling Interests in Consolidated Entities | 600,836 | 526,311 |
| Partners' Capital | ||
| Partners' Capital (common units: 416,092,022 issued and outstanding as of December 31, 2010; 319,939,772 issued and outstanding as of December 31, 2009) | 3,888,211 | 3,376,707 |
| Appropriated Partners' Capital | 470,583 | |
| Accumulated Other Comprehensive Income | 4,302 | 2,420 |
| Non-Controlling Interests in Consolidated Entities | 870,908 | 540,283 |
| Non-Controlling Interests in Blackstone Holdings | 2,418,517 | 2,097,812 |
| Total Partners' Capital | 7,652,521 | 6,017,222 |
| Total Liabilities and Partners' Capital | 18,844,605 | 9,409,024 |
| External Links | |
| BLACKSTONE INC. (BX) Fiscal Year 2010 | |
| 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 |