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: 2019 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 28, 2020) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenues | |||
| Investment Income | |||
| Performance Allocations | |||
| Realized | $ 1,739,000 | 1,876,507 | 3,571,811 |
| Unrealized | 1,126,332 | 561,373 | (105,473) |
| Principal Investments | |||
| Realized | 393,478 | 415,862 | 635,769 |
| Unrealized | 215,003 | 49,917 | 42,605 |
| Total Investment Income | 3,473,813 | 2,903,659 | 4,144,712 |
| Interest and Dividend Revenue | 182,398 | 171,947 | 139,696 |
| Other | 79,993 | 672,317 | (133,229) |
| Total Revenues | 7,338,270 | 6,833,259 | 7,145,015 |
| Expenses | |||
| Compensation and Benefits Compensation | 1,820,330 | 1,609,957 | 1,442,485 |
| Incentive Fee Compensation | 44,300 | 33,916 | 105,279 |
| Performance Allocations Compensation | |||
| Realized | 662,942 | 711,076 | 1,281,965 |
| Unrealized | 540,285 | 319,742 | 103,794 |
| Total Compensation and Benefits | 3,067,857 | 2,674,691 | 2,933,523 |
| General, Administrative and Other | 679,408 | 594,873 | 488,582 |
| Interest Expense | 199,648 | 163,990 | 197,486 |
| Fund Expenses | 17,738 | 78,486 | 132,787 |
| Total Expenses | 3,964,651 | 3,512,040 | 3,752,378 |
| Other Income | |||
| Change in Tax Receivable Agreement Liability | 161,567 | 403,855 | |
| Net Gains from Fund Investment Activities | 282,829 | 191,722 | 321,597 |
| Total Other Income | 444,396 | 191,722 | 725,452 |
| Income Before Provision (Benefit) for Taxes | 3,818,015 | 3,512,941 | 4,118,089 |
| Provision (Benefit) for Taxes | (47,952) | 249,390 | 743,147 |
| Net Income | 3,865,967 | 3,263,551 | 3,374,942 |
| Net Income (Loss) Attributable to Redeemable Non-Controlling Interests in Consolidated Entities | (121) | (2,104) | 13,806 |
| Net Income Attributable to Non-Controlling Interests in Consolidated Entities | 476,779 | 358,878 | 497,439 |
| Net Income Attributable to Non-Controlling Interests in Blackstone Holdings | 1,339,627 | 1,364,989 | 1,392,323 |
| Net Income Attributable to The Blackstone Group Inc. | 2,049,682 | 1,541,788 | 1,471,374 |
| Net Income Per Share of Class A Common Stock | |||
| Basic | 3.03 | 2.27 | 2.21 |
| Diluted | 3.03 | 2.26 | 2.21 |
| Weighted-Average Shares of Class A Common Stock Outstanding | |||
| Basic | 675,900,466 | 678,850,245 | 665,453,198 |
| Diluted | 676,167,851 | 1,206,962,846 | 666,246,846 |
| Product and Service | |||
| Management and Advisory Fees, Net | |||
| Revenues | 3,472,155 | 3,027,796 | 2,751,322 |
| Incentive Fees | |||
| Revenues | 129,911 | 57,540 | 242,514 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 28, 2020) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net Income | $ 3,865,967 | 3,263,551 | 3,374,942 |
| Other Comprehensive Income (Loss) Currency Translation Adjustment | 14,332 | (33,506) | 80,366 |
| Comprehensive Income | 3,880,299 | 3,230,045 | 3,455,308 |
| Less: Comprehensive Income (Loss) Attributable to Redeemable Non-Controlling Interests in Consolidated Entities | (121) | (2,104) | 13,806 |
| Comprehensive Income Attributable To Non Controlling Interests In Consolidated Entities | 476,779 | 356,488 | 548,936 |
| Comprehensive Income Attributable to Non-Controlling Interests in Blackstone Holdings | 1,345,980 | 1,336,331 | 1,392,323 |
| Comprehensive Income Attributable to Non-Controlling Interests | 1,822,638 | 1,690,715 | 1,955,065 |
| Comprehensive Income Attributable to The Blackstone Group Inc. | 2,057,661 | 1,539,330 | 1,500,243 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BLACKSTONE INC. | |||
Ticker: BX Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 28, 2020) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Operating Activities | |||
| Net Income | $ 3,865,967 | 3,263,551 | 3,374,942 |
| Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities Blackstone Funds Related | |||
| Net Realized Gains on Investments | (2,242,227) | (2,381,683) | (4,613,531) |
| Changes in Unrealized Gains on Investments | (324,448) | 4,784 | (21,589) |
| Non-Cash Performance Allocations | (1,126,332) | (561,373) | 105,472 |
| Non-Cash Performance Allocations and Incentive Fee Compensation | 1,234,455 | 1,053,690 | 1,491,040 |
| Equity-Based Compensation Expense | 417,092 | 366,928 | 338,687 |
| Amortization of Intangibles | 70,999 | 59,021 | 46,776 |
| Other Non-Cash Amounts Included in Net Income | (448,241) | 45,286 | 363,903 |
| 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 | (237,751) | 43,037 | 282,026 |
| Reverse Repurchase Agreements | 118,495 | ||
| Due from Affiliates | (451,302) | (280,674) | (298,501) |
| Other Assets | (50,017) | (76,596) | 17,377 |
| Accrued Compensation and Benefits | (382,120) | (729,109) | (1,177,852) |
| Securities Sold, Not Yet Purchased | (72,645) | (10,125) | (62,730) |
| Accounts Payable, Accrued Expenses and Other Liabilities | (324,358) | (357,582) | (755,232) |
| Repurchase Agreements | (68,084) | 103,362 | 43,516 |
| Due to Affiliates | (5,250) | 74,108 | (9,652) |
| Investments Purchased | (8,537,874) | (13,881,869) | (19,573,153) |
| Cash Proceeds from Sale of Investments | 10,645,243 | 14,179,523 | 18,723,355 |
| Net Cash Provided by (Used in) Operating Activities | 1,963,107 | 45,742 | (1,626,395) |
| Investing Activities | |||
| Purchase of Furniture, Equipment and Leasehold Improvements | (60,280) | (18,377) | (24,347) |
| Net Cash Paid for Acquisitions, Net of Cash Acquired | (98,219) | (168,913) | |
| Net Cash Used in Investing Activities | (60,280) | (116,596) | (193,260) |
| Financing Activities | |||
| Distributions to Non-Controlling Interest Holders in Consolidated Entities | (765,849) | (762,588) | (813,987) |
| Contributions from Non-Controlling Interest Holders in Consolidated Entities | 764,863 | 836,922 | 759,907 |
| Payments Under Tax Receivable Agreement | (84,640) | (135,831) | |
| Net Settlement of Vested Class A Common Stock and Repurchase of Class A Common Stock and Blackstone Holdings Partnership Units | (585,340) | (567,161) | (30,192) |
| Proceeds from Loans Payable | 1,549,732 | 3,218,399 | 7,600,153 |
| Repayment and Repurchase of Loans Payable | (403,401) | (1,009,354) | (1,766,129) |
| Dividends/Distributions to Shareholders and Unitholders | (2,396,744) | (3,046,404) | (2,842,582) |
| Net Cash Provided by (Used in) Financing Activities | (1,921,379) | (1,330,186) | 2,771,339 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other | (2,958) | 9,712 | 123,850 |
| Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other | |||
| Net Increase (Decrease) | (21,510) | (1,391,328) | 1,075,534 |
| Beginning of Period | 2,545,161 | 3,936,489 | |
| End of Period | 2,523,651 | 2,545,161 | 3,936,489 |
| Supplemental Disclosure of Cash Flows Information | |||
| Payments for Interest | 167,458 | 169,872 | 160,178 |
| Payments for Income Taxes | 159,302 | 192,790 | 106,032 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | |||
| Non-Cash Contributions from Non-Controlling Interest Holders | 10,078 | 10,435 | 1,112 |
| Non-Cash Distributions to Non-Controlling Interest Holders | (392) | (18,723) | (69,721) |
| Non-Cash Consideration for Acquisition | (50,803) | (95,262) | |
| Net Assets Related to the Consolidation of a Fund Entity | 387,006 | ||
| Notes Issuance Costs | 11,143 | 5,582 | |
| Transfer of Interests to Non-Controlling Interest Holders | (3,115) | 20,188 | (6,016) |
| Change in The Blackstone Group Inc.'s Ownership Interest | 60,344 | 66,799 | (15,197) |
| Net Settlement of Vested Class A Common Stock | 102,028 | 136,238 | 127,392 |
| Conversion of Blackstone Holdings Units to Class A Common Stock | 128,635 | 100,397 | 59,334 |
| Acquisition of Ownership Interests from Non-Controlling Interest Holders | |||
| Deferred Tax Asset | (149,513) | (93,391) | (74,487) |
| Due to Affiliates | 120,791 | 79,484 | 63,430 |
| Equity | 28,722 | 13,907 | 11,057 |
| Issuance of New Shares/Units | 24,970 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BLACKSTONE INC. | ||
Ticker: BX Fiscal Year: 2019 | ||
Consolidated Statements of Financial Condition | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 28, 2020) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Cash and Cash Equivalents | $ 2,172,441 | 2,207,841 |
| Cash Held by Blackstone Funds and Other | 351,210 | 337,320 |
| Investments (including assets pledged of $196,094 and $279,502 at December 31, 2019 and December 31, 2018, respectively) | 22,281,682 | 20,377,031 |
| Accounts Receivable | 975,075 | 636,238 |
| Due from Affiliates | 2,594,873 | 1,994,123 |
| Intangible Assets, Net | 397,508 | 468,507 |
| Goodwill | 1,869,860 | 1,869,860 |
| Other Assets | 382,493 | 294,248 |
| Right-of-Use Assets | 471,059 | 540,700 |
| Deferred Tax Assets | 1,089,305 | 739,482 |
| Total Assets | 32,585,506 | 28,924,650 |
| Liabilities and Equity | ||
| Loans Payable | 11,080,723 | 9,951,862 |
| Due to Affiliates | 1,026,871 | 1,035,776 |
| Accrued Compensation and Benefits | 3,796,044 | 2,942,128 |
| Securities Sold, Not Yet Purchased | 75,545 | 142,617 |
| Repurchase Agreements | 154,118 | 222,202 |
| Operating Lease Liabilities | 542,994 | 601,700 |
| Accounts Payable, Accrued Expenses and Other Liabilities | 806,159 | 875,979 |
| Total Liabilities | 17,482,454 | 15,170,564 |
| Commitments and Contingencies | ||
| Redeemable Non-Controlling Interests in Consolidated Entities | 87,651 | 141,779 |
| Stockholders' Equity of The Blackstone Group L.P. Partners' CapitalInc. | ||
| The Blackstone Group L.P. Partners' Capital (663,212,830 common units issued and outstanding as of December 31, 2018) | 6,415,700 | |
| Additional Paid-in-Capital | 6,428,647 | |
| Retained Earnings | 609,625 | |
| Accumulated Other Comprehensive Loss | (28,495) | (36,476) |
| Total Stockholders' Equity of The Blackstone Group Inc. | 7,009,784 | 6,379,224 |
| Non-Controlling Interests in Consolidated Entities | 4,186,069 | 3,648,766 |
| Non-Controlling Interests in Blackstone Holdings | 3,819,548 | 3,584,317 |
| Total Equity | 15,015,401 | 13,612,307 |
| Total Liabilities and Equity | 32,585,506 | 28,924,650 |
| Class of Stock | ||
| Common Class A | ||
| Common Stock, Value, Issued | 7 | |
| Common Class B | ||
| Common Stock, Value, Issued | ||
| Common Class C | ||
| Common Stock, Value, Issued | ||
| External Links | |
| BLACKSTONE INC. (BX) Fiscal Year 2019 | |
| 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 |