XML 129 R87.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATION - Cash Flow Statement (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:        
Net income $ 216,713 $ 141,327 $ 652,342 $ 82,206
Net cash provided by (used in) operating activities     (1,843,751) 12,462
Cash flows from investing activities:        
Net cash used in investing activities     (1,072,578) (126,437)
Allocable to redeemable and non-controlling interests in Consolidated Funds:        
Net cash provided by financing activities     2,692,984 827,550
Effect of exchange rate changes     (20,763) 16,793
Net change in cash and cash equivalents     (244,108) 730,368
Cash and cash equivalents, beginning of period     539,812  
Cash and cash equivalents, end of period 295,704 868,752 295,704 868,752
Supplemental disclosure of non-cash financing activities:        
Issuance of AOG Units in connection with acquisitions     511,069 305,338
Reportable legal entity        
Cash flows from financing activities:        
Proceeds from issuance of senior and subordinated notes       399,084
Redemption of Series A Preferred Stock     (310,000)  
Eliminations         
Cash flows from operating activities:        
Net income (5,709) (7,651) (9,211) 32,510
Net cash provided by (used in) operating activities     (969,200)  
Allocable to redeemable and non-controlling interests in Consolidated Funds:        
Net cash provided by financing activities     (89,857) 10,804
Effect of exchange rate changes     0 0
Net change in cash and cash equivalents     (1,059,057) 241,137
Cash and cash equivalents, beginning of period     (522,377) (606,321)
Cash and cash equivalents, end of period (1,581,434) (365,185) (1,581,434) (365,185)
Consolidated Funds        
Cash flows from operating activities:        
Adjustments to reconcile net income to net cash provided by (used in) operating activities     (1,688,085) (766,399)
Cash flows due to changes in operating assets and liabilities     (729,703) 366,367
Allocable to redeemable and non-controlling interests in Consolidated Funds:        
Contributions from redeemable and non-controlling interests in Consolidated Funds     919,666 123,713
Distributions to non-controlling interests in Consolidated Funds     (84,770) (169,747)
Borrowings under loan obligations by Consolidated Funds     1,456,887 618,207
Repayments under loan obligations by Consolidated Funds     (74,909) (104,794)
Consolidated Funds | Reportable legal entity        
Cash flows from operating activities:        
Net income 53,079 50,278 111,466 (71,103)
Adjustments to reconcile net income to net cash provided by (used in) operating activities     (1,697,529) (733,607)
Cash flows due to changes in operating assets and liabilities     343,253 105,992
Net cash provided by (used in) operating activities     (1,242,810) (698,718)
Allocable to redeemable and non-controlling interests in Consolidated Funds:        
Contributions from redeemable and non-controlling interests in Consolidated Funds     1,027,454 138,760
Distributions to non-controlling interests in Consolidated Funds     (102,701) (195,598)
Borrowings under loan obligations by Consolidated Funds     1,456,887 618,207
Repayments under loan obligations by Consolidated Funds     (74,909) (104,794)
Net cash provided by financing activities     2,306,731 456,575
Effect of exchange rate changes     (4,864) 1,007
Net change in cash and cash equivalents     1,059,057 (241,137)
Cash and cash equivalents, beginning of period     522,377 606,321
Cash and cash equivalents, end of period 1,581,434 365,185 1,581,434 365,185
Consolidated Funds | Eliminations         
Cash flows from operating activities:        
Adjustments to reconcile net income to net cash provided by (used in) operating activities     9,444 (32,792)
Cash flows due to changes in operating assets and liabilities     (1,072,956) 260,375
Net cash provided by (used in) operating activities       230,332
Allocable to redeemable and non-controlling interests in Consolidated Funds:        
Contributions from redeemable and non-controlling interests in Consolidated Funds     (107,788) (15,047)
Distributions to non-controlling interests in Consolidated Funds     17,931 25,851
Borrowings under loan obligations by Consolidated Funds       0
Repayments under loan obligations by Consolidated Funds       0
Ares Management L.P        
Cash flows from operating activities:        
Adjustments to reconcile net income to net cash provided by (used in) operating activities     71,133 184,586
Cash flows due to changes in operating assets and liabilities     (149,438) 145,702
Cash flows from investing activities:        
Purchase of furniture, equipment and leasehold improvements, net of disposals     (15,152) (8,608)
Acquisitions, net of cash acquired     (1,057,426) (117,829)
Cash flows from financing activities:        
Net proceeds from issuance of Class A and non-voting common stock     827,430 383,154
Proceeds from Credit Facility     468,000 790,000
Proceeds from issuance of senior and subordinated notes     450,000 399,084
Repayments of Credit Facility     (318,000) (860,000)
Dividends and distributions      (438,568) (334,957)
Series A Preferred Stock dividends     (10,850) (16,275)
Redemption of Series A Preferred Stock     (310,000) 0
Stock option exercises     27,409 78,959
Taxes paid related to net share settlement of equity awards     (221,287) (75,657)
Other financing activities     1,976 (4,137)
Allocable to redeemable and non-controlling interests in Consolidated Funds:        
Cash and cash equivalents, beginning of period     539,812 138,384
Cash and cash equivalents, end of period 295,704 868,752 295,704 868,752
Ares Management L.P | Reportable legal entity        
Cash flows from operating activities:        
Net income 169,343 98,700 550,087 120,799
Adjustments to reconcile net income to net cash provided by (used in) operating activities     (28,467) 207,358
Cash flows due to changes in operating assets and liabilities     (153,361) 152,691
Net cash provided by (used in) operating activities     368,259 480,848
Cash flows from investing activities:        
Purchase of furniture, equipment and leasehold improvements, net of disposals     (15,152) (8,608)
Acquisitions, net of cash acquired     (1,057,426) (117,829)
Net cash used in investing activities     (1,072,578) (126,437)
Cash flows from financing activities:        
Net proceeds from issuance of Class A and non-voting common stock     827,430 383,154
Proceeds from Credit Facility     468,000 790,000
Proceeds from issuance of senior and subordinated notes     450,000  
Repayments of Credit Facility     (318,000) (860,000)
Dividends and distributions      (438,568) (334,957)
Series A Preferred Stock dividends     (10,850) (16,275)
Stock option exercises     27,409 78,959
Taxes paid related to net share settlement of equity awards     (221,287) (75,657)
Other financing activities     1,976 (4,137)
Allocable to redeemable and non-controlling interests in Consolidated Funds:        
Net cash provided by financing activities     476,110 360,171
Effect of exchange rate changes     (15,899) 15,786
Net change in cash and cash equivalents     (244,108) 730,368
Cash and cash equivalents, beginning of period     539,812 138,384
Cash and cash equivalents, end of period $ 295,704 $ 868,752 295,704 868,752
Supplemental disclosure of non-cash financing activities:        
Issuance of AOG Units in connection with acquisitions     511,069 305,388
Ares Management L.P | Eliminations         
Cash flows from operating activities:        
Adjustments to reconcile net income to net cash provided by (used in) operating activities     99,600 (22,772)
Cash flows due to changes in operating assets and liabilities     $ 3,923 $ (6,989)