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SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Schedule of financial results for Company's operating segments, as well as the OMG
The following table presents the financial results for the Company’s operating segments, as well as the OMG, for the three months ended March 31, 2020:
Credit GroupPrivate Equity GroupReal
Estate Group		Total
Segments		OMGTotal
Management fees (Credit Group includes ARCC Part I Fees of $43,923)
$197,437  $52,157  $24,184  $273,778  $—  $273,778  
Other fees3,058  110  704  3,872  —  3,872  
Compensation and benefits(70,925) (19,596) (12,413) (102,934) (36,426) (139,360) 
General, administrative and other expenses(15,313) (5,633) (2,935) (23,881) (21,305) (45,186) 
Fee related earnings114,257  27,038  9,540  150,835  (57,731) 93,104  
Performance income—realized9,016  116,154  26,600  151,770  —  151,770  
Performance related compensation—realized(7,899) (92,924) (17,170) (117,993) —  (117,993) 
Realized net performance income1,117  23,230  9,430  33,777  —  33,777  
Investment income (loss)—realized(843) 11,470  1,290  11,917  (5,698) 6,219  
Interest and other investment income —realized4,575  812  796  6,183  168  6,351  
Interest expense(1,715) (1,643) (971) (4,329) (977) (5,306) 
Realized net investment income (loss)2,017  10,639  1,115  13,771  (6,507) 7,264  
Realized income$117,391  $60,907  $20,085  $198,383  $(64,238) $134,145  

The following table presents the financial results for the Company’s operating segments, as well as the OMG, for the three months ended March 31, 2019:
Credit GroupPrivate Equity GroupReal
Estate Group		Total
Segments		OMGTotal
Management fees (Credit Group includes ARCC Part I Fees of $38,393)
$162,966  $51,396  $18,650  $233,012  $—  $233,012  
Other fees3,066  —  9  3,075  —  3,075  
Compensation and benefits
(60,348) (21,196) (9,284) (90,828) (32,661) (123,489) 
General, administrative and other expenses(13,505) (4,057) (3,132) (20,694) (20,632) (41,326) 
Fee related earnings92,179  26,143  6,243  124,565  (53,293) 71,272  
Performance income—realized21,925  44,123  2,525  68,573  —  68,573  
Performance related compensation—realized(12,663) (35,297) (1,257) (49,217) —  (49,217) 
Realized net performance income9,262  8,826  1,268  19,356  —  19,356  
Investment income—realized858  10,936  3,480  15,274  —  15,274  
Interest and other investment income —realized2,905  294  1,105  4,304  15  4,319  
Interest expense(1,899) (2,175) (1,119) (5,193) (396) (5,589) 
Realized net investment income (loss)1,864  9,055  3,466  14,385  (381) 14,004  
Realized income$103,305  $44,024  $10,977  $158,306  $(53,674) $104,632  
Schedule of segment’ revenue, expenses and other income (expense)
The following table presents the components of the Company’s operating segments’ revenue, expenses and realized net investment income:
Three months ended March 31,
20202019
Segment revenues
Management fees (includes ARCC Part I Fees of $43,923 and $38,393 for the three months ended March 31, 2020 and 2019 respectively)
$273,778  $233,012  
Other fees3,872  3,075  
Performance income—realized151,770  68,573  
Total segment revenues$429,420  $304,660  
Segment expenses
Compensation and benefits$102,934  $90,828  
General, administrative and other expenses23,881  20,694  
Performance related compensation—realized117,993  49,217  
Total segment expenses$244,808  $160,739  
Segment realized net investment income
Investment income—realized$11,917  $15,274  
Interest and other investment income —realized6,183  4,304  
Interest expense(4,329) (5,193) 
Total segment realized net investment income $13,771  $14,385  
Schedule of segment revenues components
The following table reconciles the Company's consolidated revenues to segment revenue:
Three months ended March 31,
20202019
Total consolidated revenue$13,409  $477,197  
Performance (income) loss-unrealized387,657  (146,575) 
Management fees of Consolidated Funds eliminated in consolidation10,502  8,413  
Incentive fees of Consolidated Funds eliminated in consolidation(45) 434  
Administrative, transaction and other fees of Consolidated Funds eliminated in consolidation3,317  —  
Administrative fees(1)(9,661) (6,602) 
Performance income (loss) reclass(2)(1,717) 606  
Principal investment (income) loss, net of eliminations26,723  (28,759) 
Net income of non-controlling interests in consolidated subsidiaries(765) (54) 
Total consolidation adjustments and reconciling items416,011  (172,537) 
Total segment revenue$429,420  $304,660  

(1)Represents administrative fees that are presented in administrative, transaction and other fees in the Company’s Condensed Consolidated Statements of Operations and are netted against the respective expenses for segment reporting.
(2)Related to performance income for AREA Sponsor Holdings LLC, an investment pool. Changes in value of this investment are reflected within net realized and unrealized gains (losses) on investments in the Company’s Condensed Consolidated Statements of Operations.
Schedule of segment expenses components
The following table reconciles the Company's consolidated expenses to segment expenses:
Three months ended March 31,
20202019
Total consolidated expenses$81,959  $369,107  
Performance related compensation-unrealized285,892  (107,303) 
Expenses of Consolidated Funds added in consolidation(17,899) (13,401) 
Expenses of Consolidated Funds eliminated in consolidation10,456  8,847  
Administrative fees(1)(9,661) (6,602) 
OMG expenses(57,731) (53,293) 
Acquisition and merger-related expense(3,115) (1,773) 
Equity compensation expense(32,557) (27,552) 
Deferred placement fees(5,415) (521) 
Depreciation and amortization expense(5,542) (5,824) 
Expense of non-controlling interests in consolidated subsidiaries
(1,579) (946) 
Total consolidation adjustments and reconciling items162,849  (208,368) 
Total segment expenses$244,808  $160,739  

(1)Represents administrative fees that are presented in administrative, transaction and other fees in the Company’s Condensed Consolidated Statements of Operations and are netted against the respective expenses for segment reporting.
Schedule of segment other income (expense) components
The following table reconciles the Company's consolidated other income to segment realized net investment income:


Three months ended March 31,
20202019
Total consolidated other income
$(227,863) $27,870  
Investment (income) loss - unrealized105,594  (16,183) 
Interest and other investment (income) loss - unrealized(4,961) 4,978  
Other (income) loss from Consolidated Funds added in consolidation, net198,245  (31,207) 
Other income from Consolidated Funds eliminated in consolidation, net(3,819) (372) 
OMG other expense1,141  30  
Performance (income) loss reclass(1)1,717  (606) 
Principal investment income (loss)(75,988) 29,892  
Other (income) expense, net 22  (1) 
Other (income) loss of non-controlling interests in consolidated subsidiaries19,683  (16) 
Total consolidation adjustments and reconciling items241,634  (13,485) 
Total segment realized net investment income$13,771  $14,385  

(1)Related to performance income for AREA Sponsor Holdings LLC. Changes in value of this investment are reflected within net realized and unrealized gains (losses) on investments in the Company’s Condensed Consolidated Statements of Operations.
Reconciliation of segment results to the Company's income before taxes and total assets
The following table presents the reconciliation of income before taxes as reported in the Condensed Consolidated Statements of Operations to segment results of RI and FRE:
Three months ended March 31,
20202019
Income (loss) before taxes$(296,413) $135,960  
Adjustments:
Depreciation and amortization expense5,542  5,824  
Equity compensation expense32,557  27,552  
Acquisition and merger-related expense3,137  1,773  
Deferred placement fees5,415  521  
OMG expense, net58,872  53,323  
Other income, net—  (1) 
Net expense of non-controlling interests in consolidated subsidiaries
20,497  876  
Income (loss) before taxes of non-controlling interests in Consolidated Funds, net of eliminations 166,378  (17,045) 
Total performance (income) loss - unrealized 387,657  (146,575) 
Total performance related compensation - unrealized(285,892) 107,303  
Total investment (income) loss - unrealized 100,633  (11,205) 
Realized income198,383  158,306  
Total performance income - realized(151,770) (68,573) 
Total performance related compensation - realized117,993  49,217  
Total investment income - realized(13,771) (14,385) 
Fee related earnings$150,835  $124,565