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: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 28, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Operating Activities | |||
| Net Income (Loss) | $ 2,892,919 | 829,882 | (268,453) |
| Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities | |||
| Blackstone Funds Related | |||
| Unrealized Depreciation (Appreciation) on Investments Allocable to Non-Controlling Interests in Consolidated Entities | (1,069,479) | (397,470) | 59,973 |
| Net Realized Gains on Investments | (1,792,106) | (710,755) | (540,353) |
| Changes in Unrealized Gains on Investments Allocable to The Blackstone Group L.P. | (506,546) | (181,481) | (116,183) |
| Unrealized Depreciation (Appreciation) on Hedge Activities | 22,599 | (1,283) | |
| Non-Cash Performance Fees | (1,143,903) | (699,711) | (714,830) |
| Non-Cash Performance Fee Compensation | 1,413,182 | 513,546 | 316,713 |
| Equity-Based Compensation Expense | 855,087 | 949,633 | 1,396,062 |
| Excess Tax Benefits Related to Equity-Based Compensation | (5,769) | ||
| Amortization of Intangibles | 95,671 | 139,174 | 207,591 |
| Other Non-Cash Amounts Included in Net Income (Loss) | 206,451 | 353,052 | 164,359 |
| Cash Flows Due to Changes in Operating Assets and Liabilities | |||
| Cash Held by Blackstone Funds and Other | 371,641 | (367,101) | 545,637 |
| Cash Relinquished with Deconsolidation and Liquidation of Partnership | (173,726) | (48,284) | (110,607) |
| Accounts Receivable | (46,580) | (60,520) | 116,714 |
| Reverse Repurchase Agreements | 99,034 | (108,533) | 41,940 |
| Due from Affiliates | 237,169 | (73,485) | (31,403) |
| Other Assets | 15,445 | 51,031 | (19,233) |
| Accrued Compensation and Benefits | (454,724) | (119,862) | (273,281) |
| Securities Sold, Not Yet Purchased | (142,952) | 88,474 | 22,407 |
| Accounts Payable, Accrued Expenses and Other Liabilities | (316,082) | (408,256) | (203,419) |
| Repurchase Agreements | 174,629 | 40,417 | 39,177 |
| Due to Affiliates | (216,671) | (88,425) | (3,439) |
| Treasury Cash Management Strategies | |||
| Investments Purchased | (4,368,096) | (3,414,291) | (3,198,632) |
| Cash Proceeds from Sale of Investments | 4,643,886 | 2,729,689 | 3,486,836 |
| Blackstone Funds Related | |||
| Investments Purchased | (8,245,313) | (6,845,184) | (6,113,038) |
| Cash Proceeds from Sale or Pay Down of Investments | 11,024,774 | 8,389,016 | 6,296,358 |
| Net Cash Provided by Operating Activities | 3,547,941 | 583,155 | 1,099,613 |
| Investing Activities | |||
| Purchase of Furniture, Equipment and Leasehold Improvements | (25,637) | (37,020) | (36,484) |
| Net Cash Paid for Acquisitions, Net of Cash Acquired | (146,117) | (188,306) | (23,744) |
| Changes in Restricted Cash | 5,850 | 2,345 | 330 |
| Net Cash Used in Investing Activities | (165,904) | (222,981) | (59,898) |
| Financing Activities | |||
| Distributions to Non-Controlling Interest Holders in Consolidated Entities | (844,011) | (261,582) | (608,287) |
| Contributions from Non-Controlling Interest Holders in Consolidated Entities | 1,114,457 | 773,714 | 1,183,952 |
| Purchase of Interests from Certain Non-Controlling Interest Holders | (43) | (63) | (466) |
| Net Delivery of Vested Common Units and Repurchase of Common and Holdings Units | (24,140) | (22,364) | (36,711) |
| Excess Tax Benefits Related to Equity-Based Compensation | 5,769 | ||
| Proceeds from Loans Payable | 11,367 | 633,742 | 13,301 |
| Repayment and Repurchase of Loans Payable | (16,777) | (33,168) | (27,424) |
| Distributions to Unitholders | (1,469,479) | (614,530) | (702,832) |
| Blackstone Funds Related | |||
| Proceeds from Loans Payable | 53,917 | 17,820 | 342,133 |
| Repayment of Loans Payable | (2,090,674) | (898,980) | (1,037,181) |
| Net Cash Used in Financing Activities | (3,259,614) | (405,411) | (873,515) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 73 | (5) | (77) |
| Net Increase (Decrease) in Cash and Cash Equivalents | 122,496 | (45,242) | 166,123 |
| Cash and Cash Equivalents, Beginning of Period | 709,502 | 754,744 | |
| Cash and Cash Equivalents, End of Period | 831,998 | 709,502 | 754,744 |
| Supplemental Disclosure of Cash Flows Information | |||
| Payments for Interest | 125,361 | 80,159 | 81,407 |
| Payments for Income Taxes | 69,858 | 30,234 | 43,945 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | |||
| Non-Cash Contributions from Non-Controlling Interest Holders | 63,273 | 6,803 | |
| Non-Cash Distributions to Non-Controlling Interest Holders | (18,537) | (6,803) | |
| Net Activities Related to Capital Transactions of Consolidated Blackstone Funds | (6,029) | (5,409) | (2,775) |
| Net Assets Related to the Consolidation of CLO Vehicles | 233,541 | 97,773 | |
| Net Assets Related to the Consolidation of Certain Fund Entities | 659,001 | 50,224 | |
| In-kind Redemption of Capital | (2,017) | (52,467) | |
| In-kind Contribution of Capital | 2,323 | 2,017 | 8,705 |
| Notes Issuance Costs | 4,788 | ||
| Transfer of Interests to Non-Controlling Interest Holders | (2,403) | (4,584) | 2,614 |
| Change in The Blackstone Group L.P.'s Ownership Interest | (2,519) | (2,423) | (5,893) |
| Net Settlement of Vested Common Units | 153,522 | 167,046 | 186,644 |
| Conversion of Blackstone Holdings Units to Common Units | 43,255 | 256,239 | 228,722 |
| Acquisition of Ownership Interests from Non-Controlling Interest Holders | |||
| Deferred Tax Asset | (113,757) | (204,320) | (300,471) |
| Due to Affiliates | 33,177 | 146,964 | 242,080 |
| Partners' Capital | 80,580 | 57,356 | 58,391 |
| Issuance of New Units | 42,400 | 44,500 | |
| External Links | |
| BLACKSTONE INC. (BX) Fiscal Year 2013 | |
| 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 |