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: 2018 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2018 10-K (Filed: Mar 1, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Revenues | |||
| Investment Income (Loss) | |||
| Performance Allocations | |||
| Realized | $ 1,876,507 | 3,571,811 | 1,495,439 |
| Unrealized | 561,373 | (105,473) | 530,114 |
| Principal Investments | |||
| Realized | 415,862 | 635,769 | 278,737 |
| Unrealized | 49,917 | 42,605 | 77,314 |
| Total Investment Income | 2,903,659 | 4,144,712 | 2,381,604 |
| Interest and Dividend Revenue | 171,947 | 139,696 | 95,724 |
| Other | 672,317 | (133,229) | 54,753 |
| Total Revenues | 6,833,259 | 7,145,015 | 5,146,299 |
| Expenses | |||
| Compensation and Benefits Compensation | 1,609,957 | 1,442,485 | 1,335,408 |
| Incentive Fee Compensation | 33,916 | 105,279 | 68,921 |
| Performance Allocations Compensation | |||
| Realized | 711,076 | 1,281,965 | 465,129 |
| Unrealized | 319,742 | 103,794 | 333,528 |
| Total Compensation and Benefits | 2,674,691 | 2,933,523 | 2,202,986 |
| General, Administrative and Other | 594,873 | 488,582 | 541,624 |
| Interest Expense | 163,990 | 197,486 | 152,654 |
| Fund Expenses | 78,486 | 132,787 | 52,181 |
| Total Expenses | 3,512,040 | 3,752,378 | 2,949,445 |
| Other Income | |||
| Reduction of Tax Receivable Agreement Liability | 403,855 | ||
| Net Gains from Fund Investment Activities | 191,722 | 321,597 | 184,750 |
| Total Other Income | 191,722 | 725,452 | 184,750 |
| Income Before Provision for Taxes | 3,512,941 | 4,118,089 | 2,381,604 |
| Provision for Taxes | 249,390 | 743,147 | 132,362 |
| Net Income | 3,263,551 | 3,374,942 | 2,249,242 |
| Net Income (Loss) Attributable to Redeemable Non- Controlling Interests in Consolidated Entities | (2,104) | 13,806 | 3,977 |
| Net Income Attributable to Non-Controlling Interests in Consolidated Entities | 358,878 | 497,439 | 246,152 |
| Net Income Attributable to Non-Controlling Interests in Blackstone Holdings | 1,364,989 | 1,392,323 | 960,099 |
| Net Income Attributable to The Blackstone Group L.P. | 1,541,788 | 1,471,374 | 1,039,014 |
| Net Income Per Common Unit | |||
| Common Units, Basic | 2.27 | 2.21 | 1.60 |
| Common Units, Diluted | 2.26 | 2.21 | 1.56 |
| Weighted-Average Common Units Outstanding | |||
| Common Units, Basic | 678,850,245 | 665,453,198 | 649,475,264 |
| Common Units, Diluted | 1,206,962,846 | 666,246,846 | 1,195,114,590 |
| Product and Service | |||
| Management and Advisory Fees, Net | |||
| Revenues | 3,027,796 | 2,751,322 | 2,464,290 |
| Incentive Fees | |||
| Revenues | 57,540 | 242,514 | 149,928 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2018 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Mar 1, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net Income | $ 3,263,551 | 3,374,942 | 2,249,242 |
| Other Comprehensive Income (Loss), Net of Tax - Currency Translation Adjustment | (33,506) | 80,366 | (22,194) |
| Comprehensive Income | 3,230,045 | 3,455,308 | 2,227,048 |
| Less: Comprehensive Income (Loss) Attributable to Redeemable Non-Controlling Interests in Consolidated Entities | (2,104) | 13,806 | 3,977 |
| Comprehensive Income Attributable to Non-Controlling Interests in Consolidated Entities | 356,488 | 548,936 | 234,326 |
| Comprehensive Income Attributable to Non-Controlling Interests in Blackstone Holdings | 1,336,331 | 1,392,323 | 960,099 |
| Comprehensive Income Attributable to The Blackstone Group L.P. | 1,539,330 | 1,500,243 | 1,028,646 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2018 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Mar 1, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Operating Activities | |||
| Net Income | $ 3,263,551 | 3,374,942 | 2,249,242 |
| Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities Blackstone Funds Related | |||
| Net Realized Gains on Investments | (2,381,683) | (4,613,531) | (2,023,503) |
| Changes in Unrealized (Gains) Losses on Investments | 4,784 | (21,589) | (241,617) |
| Non-Cash Performance Allocations | (561,373) | 105,472 | (304,705) |
| Non-Cash Performance Allocations and Incentive Fee Compensation | 1,053,690 | 1,491,040 | 867,574 |
| Equity-Based Compensation Expense | 366,928 | 338,687 | 323,651 |
| Amortization of Intangibles | 59,021 | 46,776 | 82,943 |
| Other Non-Cash Amounts Included in Net Income | 45,286 | 363,903 | 17,370 |
| Cash Flows Due to Changes in Operating Assets and Liabilities | |||
| Cash Acquired with Consolidation of Fund Entity | 31,422 | 13,822 | |
| Cash Relinquished with Deconsolidation of Fund Entities | (899,959) | (33,566) | |
| Accounts Receivable | 43,037 | 282,026 | 87,074 |
| Reverse Repurchase Agreements | 118,495 | 86,398 | |
| Due from Affiliates | (280,674) | (298,501) | (57,907) |
| Other Assets | (76,596) | 17,377 | 99,108 |
| Accrued Compensation and Benefits | (729,109) | (1,177,852) | (572,814) |
| Securities Sold, Not Yet Purchased | (10,125) | (62,730) | 42,761 |
| Accounts Payable, Accrued Expenses and Other Liabilities | (357,582) | (755,232) | (214,723) |
| Repurchase Agreements | 103,362 | 43,516 | 34,286 |
| Due to Affiliates | 74,108 | (9,652) | 39,035 |
| Investments Purchased | (13,881,869) | (19,573,153) | (8,798,358) |
| Cash Proceeds from Sale of Investments | 14,179,523 | 18,723,355 | 8,195,594 |
| Net Cash Provided by (Used in) Operating Activities | 45,742 | (1,626,395) | (88,591) |
| Investing Activities | |||
| Purchase of Furniture, Equipment and Leasehold Improvements | (18,377) | (24,347) | (21,826) |
| Net Cash Paid for Acquisitions, Net of Cash Acquired | (98,219) | (168,913) | |
| Net Cash Used in Investing Activities | (116,596) | (193,260) | (21,826) |
| Financing Activities | |||
| Distributions to Non-Controlling Interest Holders in Consolidated Entities | (762,588) | (813,987) | (533,925) |
| Contributions from Non-Controlling Interest Holders in Consolidated Entities | 836,922 | 759,907 | 329,005 |
| Payments Under Tax Receivable Agreement | (135,831) | (78,985) | |
| Net Settlement of Vested Common Units and Repurchase of Common and Blackstone Holdings Partnership Units | (567,161) | (30,192) | (27,623) |
| Proceeds from Loans Payable | 3,218,399 | 7,600,153 | 3,321,081 |
| Repayment and Repurchase of Loans Payable | (1,009,354) | (1,766,129) | (420,714) |
| Distributions to Unitholders | (3,046,404) | (2,842,582) | (2,018,669) |
| Net Cash Provided by (Used in) Financing Activities | (1,330,186) | 2,771,339 | 570,170 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents, Cash Held by Blackstone Funds and Other, and Restricted Cash | 9,712 | 123,850 | (34,059) |
| Cash and Cash Equivalents, Cash Held by Blackstone Funds and Other, and Restricted Cash | |||
| Net Increase (Decrease) | (1,391,328) | 1,075,534 | 425,694 |
| Beginning of Period | 3,936,489 | 2,860,955 | |
| End of Period | 2,545,161 | 3,936,489 | 2,860,955 |
| Supplemental Disclosure of Cash Flows Information | |||
| Payments for Interest | 169,872 | 160,178 | 151,948 |
| Payments for Income Taxes | 192,790 | 106,032 | 65,790 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | |||
| Non-Cash Contributions from Non-Controlling Interest Holders | 10,435 | 1,112 | 1,155 |
| Non-Cash Distributions to Non-Controlling Interest Holders | (18,723) | (69,721) | (13,536) |
| Non-Cash Consideration for Acquisition | (50,803) | (95,262) | |
| Net Assets Related to the Consolidation of Certain Fund Entities | 387,006 | ||
| Notes Issuance Costs | 5,582 | 5,491 | |
| Transfer of Interests to Non-Controlling Interest Holders | 20,188 | (6,016) | (8,278) |
| Change in The Blackstone Group L.P.'s Ownership Interest | 66,799 | (15,197) | 7,881 |
| Net Settlement of Vested Common Units | 136,238 | 127,392 | 101,898 |
| Conversion of Blackstone Holdings Units to Common Units | 100,397 | 59,334 | 77,520 |
| Acquisition of Ownership Interests from Non-Controlling Interest Holders Deferred Tax Asset | (93,391) | (74,487) | (59,304) |
| Due to Affiliates | 79,484 | 63,430 | 53,935 |
| Partners' Capital | 13,907 | 11,057 | 5,369 |
| Issuance of New Units | 24,970 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BLACKSTONE INC. | ||
Ticker: BX Fiscal Year: 2018 | ||
Consolidated Statements of Financial Condition | ||
Period Ending Dec 31, 2018 10-K (Filed: Mar 1, 2019) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| Assets | ||
| Cash and Cash Equivalents | $ 2,207,841 | 1,992,497 |
| Cash Held by Blackstone Funds and Other | 337,320 | 1,929,531 |
| Investments (including assets pledged of $279,502 and $169,746 at December 31, 2018 and December 31, 2017, respectively) | 20,377,031 | 24,434,049 |
| Accounts Receivable | 636,238 | 875,018 |
| Due from Affiliates | 1,994,123 | 2,028,137 |
| Intangible Assets, Net | 468,507 | 409,828 |
| Goodwill | 1,869,860 | 1,778,192 |
| Other Assets | 294,248 | 242,697 |
| Deferred Tax Assets | 739,482 | 725,970 |
| Total Assets | 28,924,650 | 34,415,919 |
| Liabilities and Partners' Capital | ||
| Loans Payable | 9,951,862 | 14,815,436 |
| Due to Affiliates | 1,035,776 | 937,158 |
| Accrued Compensation and Benefits | 2,942,128 | 2,623,492 |
| Securities Sold, Not Yet Purchased | 142,617 | 154,380 |
| Repurchase Agreements | 222,202 | 118,840 |
| Accounts Payable, Accrued Expenses and Other Liabilities | 875,979 | 2,043,522 |
| Total Liabilities | 15,170,564 | 20,692,828 |
| Commitments and Contingencies | ||
| Redeemable Non-Controlling Interests in Consolidated Entities | 141,779 | 210,944 |
| Partners' Capital | ||
| The Blackstone Group L.P. Partners' Capital | ||
| Partners' Capital (common units: 663,212,830 issued and outstanding as of December 31, 2018; 659,526,093 issued and outstanding as of December 31, 2017) | 6,415,700 | 6,668,511 |
| Accumulated Other Comprehensive Income | (36,476) | (34,018) |
| Total The Blackstone Group L.P. Partners' Capital | 6,379,224 | 6,634,493 |
| Non-Controlling Interests in Consolidated Entities | 3,648,766 | 3,253,148 |
| Non-Controlling Interests in Blackstone Holdings | 3,584,317 | 3,624,506 |
| Total Partners' Capital | 13,612,307 | 13,512,147 |
| Total Liabilities and Partners' Capital | 28,924,650 | 34,415,919 |
| External Links | |
| BLACKSTONE INC. (BX) Fiscal Year 2018 | |
| 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 |