10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
| |||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2015 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenues | |||
| Management and Advisory Fees, Net | $ 2,542,505 | 2,497,252 | 2,193,985 |
| Performance Fees | |||
| Performance Fees Realized - Carried Interest | 3,205,290 | 2,450,082 | 943,958 |
| Performance Fees Realized - Incentive Fees | 193,238 | 249,005 | 464,838 |
| Performance Fees Unrealized - Carried Interest | (1,595,174) | 1,704,924 | 2,158,010 |
| Performance Fees Unrealized - Incentive Fees | (6,688) | (29,749) | (22,749) |
| Total Performance Fees | 1,796,666 | 4,374,262 | 3,544,057 |
| Investment Income (Loss) | |||
| Realized | 555,171 | 523,735 | 188,644 |
| Unrealized | (350,529) | 10,265 | 611,664 |
| Total Investment Income | 204,642 | 534,000 | 800,308 |
| Interest and Dividend Revenue | 94,957 | 69,809 | 64,511 |
| Other | 7,782 | 9,405 | 10,307 |
| Total Revenues | 4,646,552 | 7,484,728 | 6,613,168 |
| Expenses | |||
| Compensation and Benefits Compensation | 1,726,191 | 1,868,868 | 1,844,485 |
| Performance Fee Compensation | |||
| Performance Fee Compensation - Realized Carried Interest | 793,801 | 815,643 | 257,201 |
| Performance Fee Compensation - Realized Incentive Fees | 85,945 | 110,099 | 200,915 |
| Performance Fee Compensation - Unrealized Carried Interest | (312,696) | 379,037 | 966,717 |
| Performance Fee Compensation - Unrealized Incentive Fees | (2,490) | (19,276) | (11,651) |
| Total Compensation and Benefits | 2,290,751 | 3,154,371 | 3,257,667 |
| General, Administrative and Other | 576,103 | 549,463 | 474,442 |
| Interest Expense | 144,522 | 121,524 | 107,973 |
| Fund Expenses | 79,499 | 30,498 | 26,658 |
| Total Expenses | 3,090,875 | 3,855,856 | 3,866,740 |
| Other Income | |||
| Reversal of Tax Receivable Agreement Liability | 82,707 | 20,469 | |
| Net Gains from Fund Investment Activities | 176,364 | 357,854 | 381,664 |
| Total Other Income | 259,071 | 357,854 | 402,133 |
| Income Before Provision for Taxes | 1,814,748 | 3,986,726 | 3,148,561 |
| Provision for Taxes | 190,398 | 291,173 | 255,642 |
| Net Income | 1,624,350 | 3,695,553 | 2,892,919 |
| Net Income Attributable to Redeemable Non-Controlling Interests in Consolidated Entities | 11,145 | 74,794 | 183,315 |
| Net Income Attributable to Non-Controlling Interests in Consolidated Entities | 219,900 | 335,070 | 198,557 |
| Net Income Attributable to Non-Controlling Interests in Blackstone Holdings | 683,516 | 1,701,100 | 1,339,845 |
| Net Income Attributable to The Blackstone Group L.P. | 709,789 | 1,584,589 | 1,171,202 |
| Net Income Per Common Unit | |||
| Common Units, Basic | 1.12 | 2.60 | 2.00 |
| Common Units, Diluted | 1.04 | 2.58 | 1.98 |
| Weighted-Average Common Units Outstanding | |||
| Common Units, Basic | 634,337,179 | 608,803,111 | 587,018,828 |
| Common Units, Diluted | 1,188,085,411 | 613,176,405 | 590,546,640 |
| Revenues Earned from Affiliates | |||
| Management and Advisory Fees, Net | 210,672 | 327,134 | 253,877 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income (Loss) | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net Income | $ 1,624,350 | 3,695,553 | 2,892,919 |
| Other Comprehensive Income (Loss), Net of Tax - Currency Translation Adjustment | (49,238) | (57,924) | 9,896 |
| Comprehensive Income | 1,575,112 | 3,637,629 | 2,902,815 |
| Less Comprehensive Income Attributable to Redeemable Non-Controlling Interests in Consolidated Entities | 11,145 | 74,794 | 183,315 |
| Less Comprehensive Income Attributable to Non-Controlling Interests in Consolidated Entities | 202,318 | 301,477 | 207,157 |
| Less Comprehensive Income Attributable to Non-Controlling Interests in Blackstone Holdings | 683,516 | 1,701,100 | 1,339,845 |
| Comprehensive Income Attributable to The Blackstone Group L.P. | 678,133 | 1,560,258 | 1,172,498 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Operating Activities | |||
| Net Income | $ 1,624,350 | 3,695,553 | 2,892,919 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities | |||
| Blackstone Funds Related | |||
| Unrealized (Appreciation) Depreciation on Investments Allocable to Non-Controlling Interests in Consolidated Entities | 356,170 | (430,738) | (1,069,479) |
| Net Realized Gains on Investments | (4,121,003) | (3,343,635) | (1,792,106) |
| Changes in Unrealized (Gains) Losses on Investments Allocable to The Blackstone Group L.P. | 365,894 | 83,140 | (506,546) |
| Non-Cash Performance Fees | 1,391,946 | (1,317,707) | (1,143,903) |
| Non-Cash Performance Fee Compensation | 564,560 | 1,285,503 | 1,413,182 |
| Equity-Based Compensation Expense | 629,642 | 734,733 | 855,087 |
| Excess Tax Benefits Related to Equity-Based Compensation | (70,318) | (25,646) | (5,769) |
| Amortization of Intangibles | 101,437 | 101,915 | 95,671 |
| Other Non-Cash Amounts Included in Net Income | 144,657 | 121,808 | 206,451 |
| Cash Flows Due to Changes in Operating Assets and Liabilities | |||
| Cash Held by Blackstone Funds and Other | 1,220,959 | (390,092) | 371,641 |
| Cash Relinquished with Deconsolidation and Liquidation of Partnership | (442,370) | (476,533) | (173,726) |
| Accounts Receivable | (213,706) | 229,331 | (46,580) |
| Reverse Repurchase Agreements | (204,893) | 148,984 | 99,034 |
| Due from Affiliates | (97,487) | 229,837 | 237,169 |
| Other Assets | (149,732) | (82,890) | 15,445 |
| Accrued Compensation and Benefits | (917,428) | (836,852) | (454,724) |
| Securities Sold, Not Yet Purchased | 96,780 | (144,383) | (142,952) |
| Accounts Payable, Accrued Expenses and Other Liabilities | (474,652) | (305,978) | (316,082) |
| Repurchase Agreements | 11,012 | (325,199) | 174,629 |
| Due to Affiliates | (102,847) | 35,504 | (216,671) |
| Net Cash Provided by Operating Activities | 2,397,043 | 1,654,989 | 3,547,941 |
| Investing Activities | |||
| Purchase of Furniture, Equipment and Leasehold Improvements | (59,247) | (30,271) | (25,637) |
| Net Cash Paid for Acquisitions, Net of Cash Acquired | (146,117) | ||
| Changes in Restricted Cash | 5,843 | 5,846 | 5,850 |
| Net Cash Used in Investing Activities | (53,404) | (24,425) | (165,904) |
| Financing Activities | |||
| Distributions to Non-Controlling Interest Holders in Consolidated Entities | (677,110) | (982,405) | (844,011) |
| Contributions from Non-Controlling Interest Holders in Consolidated Entities | 479,678 | 1,560,183 | 1,114,457 |
| Purchase of Interests from Certain Non-Controlling Interest Holders | (6) | (43) | |
| Cash Relinquished in Conjunction with the Spin-Off | (55,412) | ||
| Payments Under Tax Receivable Agreement | (84,484) | (86,733) | |
| Net Delivery of Vested Common Units and Repurchase of Common and Holdings Units | (61,031) | (36,252) | (24,140) |
| Excess Tax Benefits Related to Equity-Based Compensation | 70,318 | 25,646 | 5,769 |
| Proceeds from Loans Payable | 675,807 | 491,150 | 11,367 |
| Repayment and Repurchase of Loans Payable | (923) | (8,735) | (16,777) |
| Distributions to Unitholders | (3,497,346) | (2,348,596) | (1,469,479) |
| Blackstone Funds Related | |||
| Proceeds from Loans Payable | 1,747,807 | 2,144,390 | 53,917 |
| Repayment of Loans Payable | (516,706) | (1,808,549) | (2,090,674) |
| Net Cash Used in Financing Activities | (1,919,402) | (1,049,907) | (3,259,614) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 615 | (183) | 73 |
| Net Increase in Cash and Cash Equivalents | 424,852 | 580,474 | 122,496 |
| Cash and Cash Equivalents, Beginning of Period | 1,412,472 | 831,998 | |
| Cash and Cash Equivalents, End of Period | 1,837,324 | 1,412,472 | 831,998 |
| Supplemental Disclosure of Cash Flows Information | |||
| Payments for Interest | 126,167 | 116,296 | 125,361 |
| Payments for Income Taxes | 115,814 | 236,718 | 69,858 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | |||
| Non-Cash Contributions from Non-Controlling Interest Holders | 2,277 | 47,683 | 63,273 |
| Non-Cash Distributions to Non-Controlling Interest Holders | (34) | (60,589) | (18,537) |
| Net Assets Associated with the Spin-Off | (311,826) | ||
| Net Activities Related to Capital Transactions of Consolidated Blackstone Funds | (295) | 16,181 | (6,029) |
| Net Assets Related to the Consolidation of CLO Vehicles | 8,398 | ||
| Net Assets Related to the Consolidation of Certain Fund Entities | 354,080 | 659,001 | |
| In-kind Contribution of Capital | 2,323 | ||
| Notes Issuance Costs | 5,269 | 4,375 | |
| Transfer of Interests to Non-Controlling Interest Holders | (12,272) | (1,885) | (2,403) |
| Change in The Blackstone Group L.P.'s Ownership Interest | 92,785 | 9,032 | (2,519) |
| Net Settlement of Vested Common Units | 139,941 | 69,426 | 153,522 |
| Conversion of Blackstone Holdings Units to Common Units | 131,883 | 117,877 | 43,255 |
| Acquisition of Ownership Interests from Non-Controlling Interest Holders Deferred Tax Asset xx | (195,291) | (105,686) | (113,757) |
| Due to Affiliates | 130,264 | 82,704 | 33,177 |
| Partners' Capital | 65,027 | 22,982 | 80,580 |
| Issuance of New Units | 42,400 | ||
| Legal Entity | |||
| Blackstone's Treasury Cash Management Strategies | |||
| Investments Purchased | (3,907,391) | (3,448,738) | (4,368,096) |
| Cash Proceeds from Sale of Investments | 3,909,637 | 3,022,390 | 4,643,886 |
| Investments Of Consolidated Blackstone Funds | |||
| Investments Purchased | (4,029,723) | (7,531,108) | (8,245,313) |
| Cash Proceeds from Sale or Pay Down of Investments | 6,711,549 | 10,625,790 | 11,024,774 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BLACKSTONE INC. | ||
Ticker: BX Fiscal Year: 2015 | ||
Consolidated Statements of Financial Condition | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Cash and Cash Equivalents | $ 1,837,324 | 1,412,472 |
| Cash Held by Blackstone Funds and Other | 587,132 | 1,808,092 |
| Investments (including assets pledged of $64,535 and $45,764 at December 31, 2015 and December 31, 2014 , respectively) | 14,324,097 | 22,765,589 |
| Accounts Receivable | 613,153 | 559,321 |
| Reverse Repurchase Agreements | 204,893 | |
| Due from Affiliates | 1,240,797 | 1,128,408 |
| Intangible Assets, Net | 345,547 | 458,833 |
| Goodwill | 1,718,519 | 1,787,392 |
| Other Assets | 377,189 | 324,760 |
| Deferred Tax Assets | 1,277,429 | 1,252,230 |
| Total Assets | 22,526,080 | 31,497,097 |
| Liabilities and Partners' Capital | ||
| Loans Payable | 6,116,747 | 8,923,841 |
| Due to Affiliates | 1,282,700 | 1,490,088 |
| Accrued Compensation and Benefits | 2,029,918 | 2,439,257 |
| Securities Sold, Not Yet Purchased | 176,667 | 85,878 |
| Repurchase Agreements | 40,929 | 29,907 |
| Accounts Payable, Accrued Expenses and Other Liabilities | 648,662 | 1,194,579 |
| Total Liabilities | 10,295,623 | 14,163,550 |
| Commitments and Contingencies | ||
| Redeemable Non-Controlling Interests in Consolidated Entities | 183,459 | 2,441,854 |
| Partners' Capital | ||
| The Blackstone Group L.P. Partners' Capital | ||
| Partners' Capital (common units: 624,450,162 issued and outstanding as of December 31, 2015; 595,624,855 issued and outstanding as of December 31, 2014) | 6,322,307 | 6,999,830 |
| Appropriated Partners' Capital | 81,301 | |
| Accumulated Other Comprehensive Income | (52,519) | (20,864) |
| Total The Blackstone Group L.P. Partners' Capital | 6,269,788 | 7,060,267 |
| Non-Controlling Interests in Consolidated Entities | 2,408,701 | 3,415,356 |
| Non-Controlling Interests in Blackstone Holdings | 3,368,509 | 4,416,070 |
| Total Partners' Capital | 12,046,998 | 14,891,693 |
| Total Liabilities and Partners' Capital | 22,526,080 | 31,497,097 |
| External Links | |
| BLACKSTONE INC. (BX) Fiscal Year 2015 | |
| 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 |