EQUITY AND REDEEMABLE INTEREST (Tables)

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Schedule of Stock by Class

The following table presents the changes in each class of common stock:

	Class A Common Stock	Non-Voting Common Stock	Class B Common Stock	Class C Common Stock	Total
Balance as of December 31, 2023	187,069,907	3,489,911	1,000	117,024,758	307,585,576
Issuance of common stock(1)	—	—	—	63,179	63,179
Exchanges of common stock	1,967,724	—	—	(1,967,724)	—
Stock option exercises	79,524	—	—	—	79,524
Vesting of restricted stock awards, net of shares withheld for tax	1,940,705	—	—	—	1,940,705
Balance as of March 31, 2024	191,057,860	3,489,911	1,000	115,120,213	309,668,984

(1)    Issuances of Class C common stock corresponds with increases in Ares Owners Holdings L.P.’s ownership interest in the AOG entities.

Schedule of Ownership Interests

The following table presents each partner’s Ares Operating Group Units (“AOG Units”) and corresponding ownership interest in each of the AOG entities, as well as its daily average ownership of AOG Units in each of the AOG entities:

							Daily Average Ownership
	As of March 31, 2024			As of December 31, 2023			Three months ended March 31,
	AOG Units	Direct Ownership Interest		AOG Units	Direct Ownership Interest		2024		2023
Ares Management Corporation	194,547,771	62.82	%	190,559,818	61.95	%	62.32	%	60.14	%
Ares Owners Holdings, L.P.	115,120,213	37.18		117,024,758	38.05		37.68		39.86
Total	309,667,984	100.00	%	307,584,576	100.00	%

Schedule of Redeemable Interests

The following table summarizes the activities associated with the redeemable interest in AOG entities:

	Total
Balance as of December 31, 2022	$	93,129
Changes in ownership interests and related tax benefits	(66,506)
Net loss	(1,824)
Currency translation adjustment, net of tax	(148)
Equity compensation	174
Distributions	(2,883)
Balance as of March 31, 2023	21,942
Net income	734
Currency translation adjustment, net of tax	(159)
Balance as of June 30, 2023	22,517
Net income	758
Currency translation adjustment, net of tax	(99)
Balance as of September 30, 2023	23,176
Net income	558
Currency translation adjustment, net of tax	364
Balance as of December 31, 2023	24,098
Net income	73
Currency translation adjustment, net of tax	(257)
Distributions	(302)
Balance as of March 31, 2024	$	23,612

The following table summarizes the activities associated with the redeemable interest in Consolidated Funds:

	Total
Balance as of December 31, 2022	$	1,013,282
Change in redemption value	10,504
Redemptions from Class A ordinary shares of Ares Acquisition Corporation (formerly NYSE: AAC) (“AAC I”)	(538,985)
Balance as of March 31, 2023	484,801
Gross proceeds from the initial public offering of Ares Acquisition Corporation II (NYSE: AACT) (“AAC II”)	500,000
Change in redemption value	15,948
Balance as of June 30, 2023	1,000,749
Change in redemption value	16,571
Redemptions from Class A ordinary shares of AAC I	(14,733)
Balance as of September 30, 2023	1,002,587
Change in redemption value	12,507
Redemptions from Class A ordinary shares of AAC I	(492,156)
Balance as of December 31, 2023	522,938
Change in redemption value	6,849
Balance as of March 31, 2024	$	529,787

As of March 31, 2024 and December 31, 2023, 50,000,000 of AAC II Class A ordinary shares are presented at the redemption amount within mezzanine equity within the Condensed Consolidated Statements of Financial Condition.