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: 2016 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenues | |||
| Management and Advisory Fees, Net | $ 2,442,975 | 2,542,505 | 2,497,252 |
| Performance Fees | |||
| Performance Fees Realized - Carried Interest | 1,474,830 | 3,205,290 | 2,450,082 |
| Performance Fees Realized - Incentive Fees | 170,537 | 193,238 | 249,005 |
| Performance Fees Unrealized - Carried Interest | 481,304 | (1,595,174) | 1,704,924 |
| Performance Fees Unrealized - Incentive Fees | 49,660 | (6,688) | (29,749) |
| Total Performance Fees | 2,176,331 | 1,796,666 | 4,374,262 |
| Investment Income (Loss) | |||
| Realized | 278,737 | 555,171 | 523,735 |
| Unrealized | 77,314 | (350,529) | 10,265 |
| Total Investment Income (Loss) | 356,051 | 204,642 | 534,000 |
| Interest and Dividend Revenue | 95,724 | 94,957 | 69,809 |
| Other | 54,753 | 7,782 | 9,405 |
| Total Revenues | 5,125,834 | 4,646,552 | 7,484,728 |
| Expenses | |||
| Compensation and Benefits Compensation | 1,335,408 | 1,726,191 | 1,868,868 |
| Performance Fee Compensation | |||
| Performance Fee Compensation - Realized Carried Interest | 455,954 | 793,801 | 815,643 |
| Performance Fee Compensation - Realized Incentive Fees | 78,096 | 85,945 | 110,099 |
| Performance Fee Compensation - Unrealized Carried Interest | 312,838 | (312,696) | 379,037 |
| Performance Fee Compensation - Unrealized Incentive Fees | 21,134 | (2,490) | (19,276) |
| Total Compensation and Benefits | 2,203,430 | 2,290,751 | 3,154,371 |
| General, Administrative and Other | 520,309 | 576,103 | 549,463 |
| Interest Expense | 152,654 | 144,522 | 121,524 |
| Fund Expenses | 52,181 | 79,499 | 30,498 |
| Total Expenses | 2,928,574 | 3,090,875 | 3,855,856 |
| Other Income | |||
| Reversal of Tax Receivable Agreement Liability | 82,707 | ||
| Net Gains from Fund Investment Activities | 184,750 | 176,364 | 357,854 |
| Total Other Income | 184,750 | 259,071 | 357,854 |
| Income Before Provision for Taxes | 2,382,010 | 1,814,748 | 3,986,726 |
| Provision for Taxes | 132,362 | 190,398 | 291,173 |
| Net Income | 2,249,648 | 1,624,350 | 3,695,553 |
| Net Income Attributable to Redeemable Non-Controlling Interests in Consolidated Entities | 3,977 | 11,145 | 74,794 |
| Net Income Attributable to Non-Controlling Interests in Consolidated Entities | 246,152 | 219,900 | 335,070 |
| Net Income Attributable to Non-Controlling Interests in Blackstone Holdings | 960,284 | 683,516 | 1,701,100 |
| Net Income Attributable to The Blackstone Group L.P. | 1,039,235 | 709,789 | 1,584,589 |
| Net Income Per Common Unit | |||
| Common Units, Basic | 1.60 | 1.12 | 2.60 |
| Common Units, Diluted | 1.56 | 1.04 | 2.58 |
| Weighted-Average Common Units Outstanding | |||
| Common Units, Basic | 649,475,264 | 634,337,179 | 608,803,111 |
| Common Units, Diluted | 1,195,114,590 | 1,188,085,411 | 613,176,405 |
| Revenues Earned from Affiliates | |||
| Management and Advisory Fees, Net | 185,769 | 210,672 | 327,134 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net Income | $ 2,249,648 | 1,624,350 | 3,695,553 |
| Other Comprehensive Loss, Net of Tax - Currency Translation Adjustment | (22,194) | (49,238) | (57,924) |
| Comprehensive Income | 2,227,454 | 1,575,112 | 3,637,629 |
| Less: Comprehensive Income Attributable to Redeemable Non-Controlling Interests in Consolidated Entities | 3,977 | 11,145 | 74,794 |
| Comprehensive Income Attributable to Non-Controlling Interests in Consolidated Entities | 234,326 | 202,318 | 301,477 |
| Comprehensive Income Attributable to Non-Controlling Interests in Blackstone Holdings | 960,284 | 683,516 | 1,701,100 |
| Comprehensive Income Attributable to The Blackstone Group L.P. | 1,028,867 | 678,133 | 1,560,258 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Operating Activities | |||
| Net Income | $ 2,249,648 | 1,624,350 | 3,695,553 |
| Adjustments to Reconcile Net Income to Net Cash Provided by (Used In) Operating Activities | |||
| Unrealized (Appreciation) Depreciation on Investments Allocable to Non-Controlling Interests in Consolidated Entities | (261,338) | 356,170 | (430,738) |
| Net Realized Gains on Investments | (2,023,503) | (4,121,003) | (3,343,635) |
| Changes in Unrealized Losses on Investments Allocable to The Blackstone Group L.P. | 19,721 | 365,894 | 83,140 |
| Non-Cash Performance Fees | (305,559) | 1,391,946 | (1,317,707) |
| Non-Cash Performance Fee Compensation | 868,022 | 564,560 | 1,285,503 |
| Equity-Based Compensation Expense | 323,651 | 629,642 | 734,733 |
| Excess Tax Benefits Related to Equity-Based Compensation | (70,318) | (25,646) | |
| Amortization of Intangibles | 82,943 | 101,437 | 101,915 |
| Other Non-Cash Amounts Included in Net Income | 16,711 | 144,657 | 121,808 |
| Cash Flows Due to Changes in Operating Assets and Liabilities | |||
| Cash Held by Blackstone Funds and Other | (452,108) | 1,220,959 | (390,092) |
| Cash Relinquished with Deconsolidation and Liquidation of Partnership | (442,370) | (476,533) | |
| Accounts Receivable | 87,074 | (213,706) | 229,331 |
| Reverse Repurchase Agreements | 86,398 | (204,893) | 148,984 |
| Due from Affiliates | (57,907) | (97,487) | 229,837 |
| Other Assets | 99,108 | (149,732) | (82,890) |
| Accrued Compensation and Benefits | (572,814) | (917,428) | (836,852) |
| Securities Sold, Not Yet Purchased | 42,761 | 96,780 | (144,383) |
| Accounts Payable, Accrued Expenses and Other Liabilities | (214,651) | (474,652) | (305,978) |
| Repurchase Agreements | 34,286 | 11,012 | (325,199) |
| Due to Affiliates | 39,035 | (102,847) | 35,504 |
| Investments Purchased | (8,798,358) | (7,937,114) | (10,979,846) |
| Cash Proceeds from Sale of Investments | 8,195,594 | 10,621,186 | 13,648,180 |
| Net Cash Provided by (Used in) Operating Activities | (541,286) | 2,397,043 | 1,654,989 |
| Investing Activities | |||
| Purchase of Furniture, Equipment and Leasehold Improvements | (21,826) | (59,247) | (30,271) |
| Changes in Restricted Cash | (7,150) | 5,843 | 5,846 |
| Net Cash Used in Investing Activities | (28,976) | (53,404) | (24,425) |
| Financing Activities | |||
| Distributions to Non-Controlling Interest Holders in Consolidated Entities | (533,925) | (677,110) | (982,405) |
| Contributions from Non-Controlling Interest Holders in Consolidated Entities | 329,005 | 479,678 | 1,560,183 |
| Purchase of Interests from Certain Non-Controlling Interest Holders | (6) | ||
| Cash Relinquished in Conjunction with the Spin-Off | (55,412) | ||
| Payments Under Tax Receivable Agreement | (78,985) | (84,484) | (86,733) |
| Net Delivery of Vested Common Units and Repurchase of Common and Holdings Units | (27,623) | (61,031) | (36,252) |
| Excess Tax Benefits Related to Equity-Based Compensation | 70,318 | 25,646 | |
| Proceeds from Loans Payable | 3,321,081 | 2,423,614 | 2,635,540 |
| Repayment and Repurchase of Loans Payable | (420,714) | (517,629) | (1,817,284) |
| Distributions to Unitholders | (2,018,669) | (3,497,346) | (2,348,596) |
| Net Cash Provided by (Used in) Financing Activities | 570,170 | (1,919,402) | (1,049,907) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 21 | 615 | (183) |
| Net Increase (Decrease) in Cash and Cash Equivalents | (71) | 424,852 | 580,474 |
| Cash and Cash Equivalents, Beginning of Period | 1,837,324 | 1,412,472 | |
| Cash and Cash Equivalents, End of Period | 1,837,253 | 1,837,324 | 1,412,472 |
| Supplemental Disclosure of Cash Flows Information | |||
| Payments for Interest | 151,948 | 126,167 | 116,296 |
| Payments for Income Taxes | 65,790 | 115,814 | 236,718 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | |||
| Non-Cash Contributions from Non-Controlling Interest Holders | 1,155 | 2,277 | 47,683 |
| Non-Cash Distributions to Non-Controlling Interest Holders | (13,536) | (34) | (60,589) |
| Net Assets Associated with the Spin-Off | (311,826) | ||
| Net Activities Related to Capital Transactions of Consolidated Blackstone Funds | (295) | 16,181 | |
| Net Assets Related to the Consolidation of CLO Vehicles | 8,398 | ||
| Net Assets Related to the Consolidation of Certain Fund Entities | 354,080 | ||
| Notes Issuance Costs | 5,491 | 5,269 | 4,375 |
| Transfer of Interests to Non-Controlling Interest Holders | (8,278) | (12,272) | (1,885) |
| Change in The Blackstone Group L.P.'s Ownership Interest | 7,881 | 92,785 | 9,032 |
| Net Settlement of Vested Common Units | 101,898 | 139,941 | 69,426 |
| Conversion of Blackstone Holdings Units to Common Units | 77,520 | 131,883 | 117,877 |
| Acquisition of Ownership Interests from Non-Controlling Interest Holders Deferred Tax Asset | (59,304) | (195,291) | (105,686) |
| Due to Affiliates | 53,935 | 130,264 | 82,704 |
| Partners' Capital | 5,369 | 65,027 | 22,982 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BLACKSTONE INC. | ||
Ticker: BX Fiscal Year: 2016 | ||
Consolidated Statements of Financial Condition | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Cash and Cash Equivalents | $ 1,837,253 | 1,837,324 |
| Cash Held by Blackstone Funds and Other | 1,005,161 | 587,132 |
| Investments (including assets pledged of $119,139 and $64,535 at December 31, 2016 and December 31, 2015, respectively) | 17,694,975 | 14,324,097 |
| Accounts Receivable | 772,695 | 613,153 |
| Reverse Repurchase Agreements | 118,495 | 204,893 |
| Due from Affiliates | 1,442,378 | 1,240,797 |
| Intangible Assets, Net | 262,604 | 345,547 |
| Goodwill | 1,718,519 | 1,718,519 |
| Other Assets | 264,788 | 377,189 |
| Deferred Tax Assets | 1,286,469 | 1,277,429 |
| Total Assets | 26,403,337 | 22,526,080 |
| Liabilities and Partners' Capital | ||
| Loans Payable | 8,866,366 | 6,116,747 |
| Due to Affiliates | 1,321,772 | 1,282,700 |
| Accrued Compensation and Benefits | 2,327,762 | 2,029,918 |
| Securities Sold, Not Yet Purchased | 215,398 | 176,667 |
| Repurchase Agreements | 75,324 | 40,929 |
| Accounts Payable, Accrued Expenses and Other Liabilities | 1,081,782 | 648,662 |
| Total Liabilities | 13,888,404 | 10,295,623 |
| Commitments and Contingencies | ||
| Redeemable Non-Controlling Interests in Consolidated Entities | 185,390 | 183,459 |
| Partners' Capital | ||
| The Blackstone Group L.P. Partners' Capital | ||
| Partners' Capital (common units: 643,459,542 issued and outstanding as of December 31, 2016; 624,450,162 issued and outstanding as of December 31, 2015) | 6,523,929 | 6,322,307 |
| Accumulated Other Comprehensive Income | (62,887) | (52,519) |
| Total The Blackstone Group L.P. Partners' Capital | 6,461,042 | 6,269,788 |
| Non-Controlling Interests in Consolidated Entities | 2,428,964 | 2,408,701 |
| Non-Controlling Interests in Blackstone Holdings | 3,439,537 | 3,368,509 |
| Total Partners' Capital | 12,329,543 | 12,046,998 |
| Total Liabilities and Partners' Capital | 26,403,337 | 22,526,080 |
| External Links | |
| BLACKSTONE INC. (BX) Fiscal Year 2016 | |
| 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 |