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: 2012 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Operating Activities | |||
| Net Income (Loss) | $ 829,882 | (268,453) | (607,323) |
| 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 | (397,470) | 59,973 | (720,716) |
| Net Realized Gains on Investments | (710,755) | (540,353) | (337,932) |
| Changes in Unrealized Gains on Investments Allocable to The Blackstone Group L.P. | (181,481) | (116,183) | (460,450) |
| Unrealized Depreciation (Appreciation) on Hedge Activities | 22,599 | (1,283) | (1,952) |
| Non-Cash Performance Fees | (699,711) | (714,830) | (379,156) |
| Non-Cash Performance Fee Compensation | 513,546 | 316,713 | 356,962 |
| Equity-Based Compensation Expense | 949,633 | 1,396,062 | 2,440,148 |
| Amortization of Intangibles | 139,174 | 207,591 | 162,051 |
| Other Non-Cash Amounts Included in Net Income (Loss) | 353,052 | 164,359 | 20,591 |
| Cash Flows Due to Changes in Operating Assets and Liabilities: | |||
| Cash Held by Blackstone Funds and Other | (367,101) | 545,637 | (447,084) |
| Cash Relinquished with Deconsolidation and Liquidation of Partnership | (48,284) | (110,607) | (4,398) |
| Accounts Receivable | (60,520) | 116,714 | (108,162) |
| Reverse Repurchase Agreements | (108,533) | 41,940 | (181,425) |
| Due from Affiliates | (73,485) | (31,403) | (68,761) |
| Other Assets | 51,031 | (19,233) | (20,802) |
| Accrued Compensation and Benefits | (119,862) | (273,281) | (101,377) |
| Securities Sold, Not Yet Purchased | 88,474 | 22,407 | 114,683 |
| Accounts Payable, Accrued Expenses and Other Liabilities | (408,256) | (203,419) | 12,535 |
| Repurchase Agreements | 40,417 | 39,177 | 62,672 |
| Due to Affiliates | (88,425) | (3,439) | 3,286 |
| Treasury Cash Management Strategies: | |||
| Investments Purchased | (3,414,291) | (3,198,632) | (2,246,082) |
| Cash Proceeds from Sale of Investments | 2,729,689 | 3,486,836 | 1,930,489 |
| Blackstone Funds Related: | |||
| Investments Purchased | (6,845,184) | (6,113,038) | (4,411,114) |
| Cash Proceeds from Sale or Pay Down of Investments | 8,389,016 | 6,296,358 | 4,621,432 |
| Net Cash Provided by (Used in) Operating Activities | 583,155 | 1,099,613 | (371,885) |
| Investing Activities | |||
| Purchase of Furniture, Equipment and Leasehold Improvements | (37,020) | (36,484) | (54,160) |
| Net Cash Paid for Acquisitions, Net of Cash Acquired | (188,306) | (23,744) | (21,886) |
| Changes in Restricted Cash | 2,345 | 330 | (143) |
| Net Cash Used in Investing Activities | (222,981) | (59,898) | (76,189) |
| Financing Activities | |||
| Distributions to Non-Controlling Interest Holders in Consolidated Entities | (261,582) | (608,287) | (113,872) |
| Contributions from Non-Controlling Interest Holders in Consolidated Entities | 773,714 | 1,183,952 | 262,006 |
| Purchase of Interests from Certain Non-Controlling Interest Holders | (63) | (466) | (573) |
| Net Delivery of Vested Common Units and Repurchase of Common and Holdings Units | (22,364) | (36,711) | (25,154) |
| Proceeds from Loans Payable | 633,742 | 13,301 | 415,828 |
| Repayment and Repurchase of Loans Payable | (33,168) | (27,424) | (43,266) |
| Distributions to Unitholders | (614,530) | (702,832) | (599,390) |
| Blackstone Funds Related: | |||
| Proceeds from Loans Payable | 17,820 | 342,133 | 392,071 |
| Repayment of Loans Payable | (898,980) | (1,037,181) | (203,026) |
| Net Cash Provided by (Used in) Financing Activities | (405,411) | (873,515) | 84,624 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | (5) | (77) | (25) |
| Net Increase (Decrease) in Cash and Cash Equivalents | (45,242) | 166,123 | (363,475) |
| Cash and Cash Equivalents, Beginning of Period | 754,744 | 588,621 | |
| Cash and Cash Equivalents, End of Period | 709,502 | 754,744 | 588,621 |
| Supplemental Disclosure of Cash Flows Information | |||
| Payments for Interest | 80,159 | 81,407 | 3,554 |
| Payments for Income Taxes | 30,234 | 43,945 | 57,672 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | |||
| Non-Cash Contributions from Non-Controlling Interest Holders | 6,803 | ||
| Non-Cash Distributions to Non-Controlling Interest Holders | (6,803) | ||
| Net Activities Related to Capital Transactions of Consolidated Blackstone Funds | (5,409) | (2,775) | 16,670 |
| Net Assets Related to the Consolidation of CLO Vehicles | 233,541 | 97,773 | 406,916 |
| Net Assets Related to the Consolidation of Certain Fund Entities | 50,224 | ||
| Reclassification of Capital Due to Non-Controlling Interest Holders | (73,862) | ||
| In-kind Redemption of Capital | (2,017) | (52,467) | (28,098) |
| In-kind Contribution of Capital | 2,017 | 8,705 | 54,289 |
| Notes Issuance Costs | 4,788 | 2,000 | |
| Transfer of Interests to Non-Controlling Interest Holders | (4,584) | 2,614 | (21,996) |
| Change in The Blackstone Group L.P.'s Ownership Interest | (2,423) | (5,893) | (19,346) |
| Net Settlement of Vested Common Units | 167,046 | 186,644 | 198,739 |
| Conversion of Blackstone Holdings Units to Common Units | 256,239 | 228,722 | 252,113 |
| Acquisition of Ownership Interests from Non-Controlling Interest Holders: | |||
| Deferred Tax Asset | (204,320) | (300,471) | (351,183) |
| Due to Affiliates | 146,964 | 242,080 | 283,290 |
| Partners' Capital | 57,356 | 58,391 | 67,893 |
| Issuance of New Units | 44,500 | 47,163 | |
| External Links | |
| BLACKSTONE INC. (BX) Fiscal Year 2012 | |
| 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 |