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: 2014 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 27, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Operating Activities | |||
| Net Income | $ 3,695,553 | 2,892,919 | 829,882 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities | |||
| Blackstone Funds Related | |||
| Unrealized Appreciation on Investments Allocable to Non-Controlling Interests in Consolidated Entities | (430,738) | (1,069,479) | (397,470) |
| Net Realized Gains on Investments | (3,343,635) | (1,792,106) | (710,755) |
| Changes in Unrealized (Gains) Losses on Investments Allocable to The Blackstone Group L.P. | 83,140 | (506,546) | (181,481) |
| Unrealized Depreciation on Hedge Activities | 22,599 | ||
| Non-Cash Performance Fees | (1,317,707) | (1,143,903) | (699,711) |
| Non-Cash Performance Fee Compensation | 1,285,503 | 1,413,182 | 513,546 |
| Equity-Based Compensation Expense | 734,733 | 855,087 | 949,633 |
| Excess Tax Benefits Related to Equity-Based Compensation | (25,646) | (5,769) | |
| Amortization of Intangibles | 101,915 | 95,671 | 139,174 |
| Other Non-Cash Amounts Included in Net Income | 121,808 | 206,451 | 353,052 |
| Cash Flows Due to Changes in Operating Assets and Liabilities | |||
| Cash Held by Blackstone Funds and Other | (390,092) | 371,641 | (367,101) |
| Cash Relinquished with Deconsolidation and Liquidation of Partnership | (476,533) | (173,726) | (48,284) |
| Accounts Receivable | 229,331 | (46,580) | (60,520) |
| Reverse Repurchase Agreements | 148,984 | 99,034 | (108,533) |
| Due from Affiliates | 229,837 | 237,169 | (73,485) |
| Other Assets | (82,890) | 15,445 | 51,031 |
| Accrued Compensation and Benefits | (836,852) | (454,724) | (119,862) |
| Securities Sold, Not Yet Purchased | (144,383) | (142,952) | 88,474 |
| Accounts Payable, Accrued Expenses and Other Liabilities | (305,978) | (316,082) | (408,256) |
| Repurchase Agreements | (325,199) | 174,629 | 40,417 |
| Due to Affiliates | 35,504 | (216,671) | (88,425) |
| Treasury Cash Management Strategies | |||
| Investments Purchased | (3,448,738) | (4,368,096) | (3,414,291) |
| Cash Proceeds from Sale of Investments | 3,022,390 | 4,643,886 | 2,729,689 |
| Blackstone Funds Related | |||
| Investments Purchased | (7,531,108) | (8,245,313) | (6,845,184) |
| Cash Proceeds from Sale or Pay Down of Investments | 10,625,790 | 11,024,774 | 8,389,016 |
| Net Cash Provided by Operating Activities | 1,654,989 | 3,547,941 | 583,155 |
| Investing Activities | |||
| Purchase of Furniture, Equipment and Leasehold Improvements | (30,271) | (25,637) | (37,020) |
| Net Cash Paid for Acquisitions, Net of Cash Acquired | (146,117) | (188,306) | |
| Changes in Restricted Cash | 5,846 | 5,850 | 2,345 |
| Net Cash Used in Investing Activities | (24,425) | (165,904) | (222,981) |
| Financing Activities | |||
| Distributions to Non-Controlling Interest Holders in Consolidated Entities | (982,405) | (844,011) | (261,582) |
| Contributions from Non-Controlling Interest Holders in Consolidated Entities | 1,560,183 | 1,114,457 | 773,714 |
| Purchase of Interests from Certain Non-Controlling Interest Holders | (6) | (43) | (63) |
| Payments Under Tax Receivable Agreement | (86,733) | ||
| Net Delivery of Vested Common Units and Repurchase of Common and Holdings Units | (36,252) | (24,140) | (22,364) |
| Excess Tax Benefits Related to Equity-Based Compensation | 25,646 | 5,769 | |
| Proceeds from Loans Payable | 491,150 | 11,367 | 633,742 |
| Repayment and Repurchase of Loans Payable | (8,735) | (16,777) | (33,168) |
| Distributions to Unitholders | (2,348,596) | (1,469,479) | (614,530) |
| Blackstone Funds Related | |||
| Proceeds from Loans Payable | 2,144,390 | 53,917 | 17,820 |
| Repayment of Loans Payable | (1,808,549) | (2,090,674) | (898,980) |
| Net Cash Used in Financing Activities | (1,049,907) | (3,259,614) | (405,411) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | (183) | 73 | (5) |
| Net Increase (Decrease) in Cash and Cash Equivalents | 580,474 | 122,496 | (45,242) |
| Cash and Cash Equivalents, Beginning of Period | 831,998 | 709,502 | |
| Cash and Cash Equivalents, End of Period | 1,412,472 | 831,998 | 709,502 |
| Supplemental Disclosure of Cash Flows Information | |||
| Payments for Interest | 116,296 | 125,361 | 80,159 |
| Payments for Income Taxes | 236,718 | 69,858 | 30,234 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | |||
| Non-Cash Contributions from Non-Controlling Interest Holders | 47,683 | 63,273 | 6,803 |
| Non-Cash Distributions to Non-Controlling Interest Holders | (60,589) | (18,537) | (6,803) |
| Net Activities Related to Capital Transactions of Consolidated Blackstone Funds | 16,181 | (6,029) | (5,409) |
| Net Assets Related to the Consolidation of CLO Vehicles | 8,398 | 233,541 | |
| Net Assets Related to the Consolidation of Certain Fund Entities | 354,080 | 659,001 | 50,224 |
| In-kind Redemption of Capital | (2,017) | ||
| In-kind Contribution of Capital | 2,323 | 2,017 | |
| Notes Issuance Costs | 4,375 | 4,788 | |
| Transfer of Interests to Non-Controlling Interest Holders | (1,885) | (2,403) | (4,584) |
| Change in The Blackstone Group L.P.'s Ownership Interest | 9,032 | (2,519) | (2,423) |
| Net Settlement of Vested Common Units | 69,426 | 153,522 | 167,046 |
| Conversion of Blackstone Holdings Units to Common Units | 117,877 | 43,255 | 256,239 |
| Acquisition of Ownership Interests from Non-Controlling Interest Holders | |||
| Deferred Tax Asset | (105,686) | (113,757) | (204,320) |
| Due to Affiliates | 82,704 | 33,177 | 146,964 |
| Partners' Capital | 22,982 | 80,580 | 57,356 |
| Issuance of New Units | 42,400 | ||
| External Links | |
| BLACKSTONE INC. (BX) Fiscal Year 2014 | |
| 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 |