XML 47 R7.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 349,481 $ 480,066
Net cash provided by operating activities 2,409,904 1,142,217
Cash flows from investing activities:    
Net cash used in investing activities (1,767,608) (63,309)
Allocable to redeemable and non-controlling interests in Consolidated Funds:    
Net cash used in financing activities (1,744,928) (1,125,531)
Effect of exchange rate changes 104,312 (17,206)
Net change in cash and cash equivalents (998,320) (63,829)
Cash and cash equivalents, beginning of period 1,507,976  
Cash and cash equivalents, end of period 509,656 284,445
Supplemental disclosure of non-cash financing activities:    
Equity issued in connection with acquisition-related activities 1,657,881 7,724
Consolidated Funds     
Cash flows from operating activities:    
Adjustments to reconcile net income to net cash provided by operating activities 1,163,402 323,364
Cash flows due to changes in operating assets and liabilities allocable to redeemable and non-controlling interest in Consolidated Funds 245,027 (121,962)
Allocable to redeemable and non-controlling interests in Consolidated Funds:    
Contributions from redeemable and non-controlling interests in Consolidated Funds 160,147 511,610
Distributions to non-controlling interests in Consolidated Funds (319,756) (47,604)
Redemptions of redeemable interests in Consolidated Funds 7,143 0
Borrowings under loan obligations by Consolidated Funds 312,491 167,135
Repayments under loan obligations by Consolidated Funds (1,717,589) (878,545)
Ares Management L.P    
Cash flows from operating activities:    
Adjustments to reconcile net income to net cash provided by operating activities 462,314 303,360
Cash flows due to changes in operating assets and liabilities 189,680 157,389
Cash flows from investing activities:    
Purchase of furniture, equipment and leasehold improvements, net of disposals (44,893) (55,309)
Acquisitions, net of cash acquired (1,722,715) (8,000)
Cash flows from financing activities:    
Net proceeds from issuance of Class A common stock 0 354,395
Proceeds from Credit Facility 1,525,000 650,000
Repayments of Credit Facility (410,000) (1,050,000)
Dividends and distributions  (873,259) (632,260)
Stock option exercises 0 1,511
Taxes paid related to net share settlement of equity awards (416,609) (203,076)
Other financing activities 1,790 1,303
Allocable to redeemable and non-controlling interests in Consolidated Funds:    
Cash and cash equivalents, beginning of period 1,507,976 348,274
Cash and cash equivalents, end of period $ 509,656 $ 284,445