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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Administrative and other fees $ 0      
Total revenues 533,890 $ 369,535 $ 775,547 $ 505,550
Expenses        
Total expenses 448,197 303,935 939,664 433,473
Other income (expense)        
Total other income 29,387 17,406 88,609 1,955
Income (loss) before taxes 115,080 83,006 (75,508) 74,032
Income tax expense (benefit) 1,253 (4,434) (33,011) 231
Net income (loss) 113,827 87,440 (42,497) 73,801
Net income attributable to Ares Management, L.P. 49,878 37,574 8,744 34,484
Less: Preferred equity distributions paid 5,425 0 10,850 0
Net income (loss) attributable to Ares Management, L.P. common unitholders $ 44,453 $ 37,574 $ (2,106) $ 34,484
Net income (loss) attributable to Ares Management, L.P. per common unit:        
Basic (in dollars per unit) $ 0.54 $ 0.46 $ (0.04) $ 0.42
Diluted (in dollars per unit) $ 0.53 $ 0.46 $ (0.04) $ 0.42
Weighted-average common units:        
Basic (in units) 81,829,086 80,715,723 81,469,967 80,699,387
Diluted (in units) 84,319,882 82,332,193 81,469,967 81,752,468
Distribution declared and paid per common unit (in units per share) $ 0.13 $ 0.15 $ 0.41 $ 0.35
Ares Management L.P        
Revenues        
Management fees (includes ARCC Part I Fees of $19,143, $52,400 and $28,999, $57,624 for the three and six months ended June 30, 2017 and 2016, respectively) $ 180,768 $ 158,521 $ 352,813 $ 316,954
Performance fees 338,024 203,151 393,196 173,204
Administrative and other fees 15,098 7,863 29,538 15,392
Total revenues 533,890 369,535 775,547 505,550
Expenses        
Compensation and benefits 131,219 112,654 255,558 223,333
Performance fee compensation 261,705 151,896 302,407 130,566
General, administrative and other expenses 50,751 38,686 98,089 78,648
Transaction support expense 0 0 275,177 0
Other income (expense)        
Investment income and net interest income (expense) (2,252) 4,993 (4,387) 1,634
Other income, net 2,822 5,673 19,318 10,914
Net realized and unrealized gain (loss) on investments 30,079 (3,151) 32,734 1,991
Consolidated Funds        
Expenses        
Expenses of the Consolidated Funds 4,522 699 8,433 926
Other income (expense)        
Investment income and net interest income (expense) 11,451 9,690 21,621 17,022
Net realized and unrealized gain (loss) on investments (12,713) 201 19,323 (29,606)
Net income (loss) attributable to non-controlling interests related to consolidated VIEs (8,647) 1,054 7,208 (10,925)
AOG        
Other income (expense)        
Net income (loss) attributable to non-controlling interests related to consolidated VIEs 72,596 48,473 (58,449) 49,893
Less: Net income attributable to redeemable interests in Ares Operating Group entities $ 0 $ 339 $ 0 $ 349