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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Total revenues $ 801,290 $ 948,719 $ 2,117,719 $ 2,901,926
Expenses        
Compensation and benefits 425,419 335,569 1,155,031 837,108
Performance related compensation 142,934 331,141 316,818 1,208,954
General, administrative and other expenses 319,352 134,453 562,441 285,471
Total expenses 898,102 813,267 2,062,654 2,363,108
Other income (expense)        
Net realized and unrealized gains on investments 4,431 8,334 10,765 18,744
Interest and dividend income 2,086 1,376 5,064 6,818
Interest expense (18,307) (11,523) (51,174) (25,125)
Other income, net 2,601 36,654 10,194 30,686
Total other income (expense) 36,434 111,536 112,932 218,011
Income (loss) before taxes (60,378) 246,988 167,997 756,829
Income tax expense (benefit) (11,599) 30,275 22,272 104,487
Net income (loss) (48,779) 216,713 145,725 652,342
Net income (loss) attributable to Ares Management Corporation (35,546) 84,726 50,048 284,748
Less: Series A Preferred Stock dividends paid 0 0 0 10,850
Less: Series A Preferred Stock redemption premium 0 0 0 11,239
Net income (loss) attributable to Ares Management Corporation Class A and non-voting common stockholders $ (35,546) $ 84,726 $ 50,048 $ 262,659
Class A Common Stock        
Net income (loss) per share of Class A and non-voting common stock:        
Basic (in dollars per share) $ (0.22) $ 0.49 $ 0.23 $ 1.55
Diluted (in dollars per share) $ (0.22) $ 0.45 $ 0.23 $ 1.48
Weighted-average shares of Class A and non-voting common stock:        
Basic (in shares) 175,631,144 168,931,621 175,010,241 161,071,151
Diluted (in shares) 175,631,144 186,522,157 175,010,241 177,143,438
Non-voting Common Stock        
Net income (loss) per share of Class A and non-voting common stock:        
Basic (in dollars per share) $ (0.22) $ 0.49 $ 0.23 $ 1.55
Diluted (in dollars per share) $ (0.22) $ 0.45 $ 0.23 $ 1.48
Weighted-average shares of Class A and non-voting common stock:        
Basic (in shares) 175,631,144 168,931,621 175,010,241 161,071,151
Diluted (in shares) 175,631,144 186,522,157 175,010,241 177,143,438
Consolidated Funds         
Expenses        
Expenses of Consolidated Funds $ 10,397 $ 12,104 $ 28,364 $ 31,575
Other income (expense)        
Net realized and unrealized gains on investments (30) 34,245 8,031 44,720
Interest expense (112,762) (61,578) (266,028) (191,577)
Interest and other income of Consolidated Funds 158,415 104,028 396,080 333,745
Less: Net income (loss) attributable to non-controlling interests 16,340 47,370 48,700 102,255
Ares Operating Group        
Other income (expense)        
Net income (loss) (65,119) 169,343 97,025 550,087
Less: Net income (loss) attributable to non-controlling interests (29,666) 84,293 46,942 264,646
Less: Net income attributable to redeemable interest in Ares Operating Group entities 93 324 35 693
Management fees        
Revenues        
Total revenues 548,458 448,262 1,546,350 1,135,821
Carried interest allocation        
Revenues        
Total revenues 192,186 460,651 417,779 1,610,707
Incentive fees        
Revenues        
Total revenues 8,882 696 29,979 19,420
Principal investment income        
Revenues        
Total revenues 11,582 14,250 15,521 86,477
Administrative, transaction and other fees        
Revenues        
Total revenues $ 40,182 $ 24,860 $ 108,090 $ 49,501