EX-99.1 2 ozm-8xkdebtfinancialsxex99.htm EXHIBIT 99.1 OZM - 8-K Debt Financials - EX 99 - 1q2015


Unaudited Reconciliation of Financial Data
The following tables present the historical unaudited financial information for the Credit parties and their consolidated subsidiaries (the Och-Ziff Operating Group) as of and for the three months ended March 31, 2015. The Och-Ziff Operating Group does not report audited or unaudited financial information on a stand-alone basis. Accordingly, the financial data presented herein for the Och-Ziff Operating Group and its consolidated subsidiaries has been reconciled to Och-Ziff Capital Management Group LLC’s financial statements for the relevant periods. You should read this data in conjunction with Och-Ziff Capital Management Group LLC’s financial statements and the related notes included in its Quarterly Report on Form 10-Q for the three months ended March 31, 2015, which was filed with the U.S. Securities and Exchange Commission on May 5, 2015.
 
March 31, 2015
 
Och-Ziff
Operating Group
 
Consolidated
Och-Ziff Funds
and Related
Eliminations
 
Other(1)
 
Och-Ziff Capital Management Group LLC Consolidated
 
 
 
 
 
 
 
 
 
(dollars in thousands)
Assets
 

 
 
 
 
 
 
Cash and cash equivalents
$
254,063

 
$

 
$
29,148

 
$
283,211

Income and fees receivable
149,405

 
(74,878
)
 

 
74,527

Due from related parties
67,391

 
(1,056
)
 
(64,098
)
 
2,237

Deferred income tax assets
3,843

 

 
811,852

 
815,695

Other assets, net
186,090

 
(9,126
)
 
37,225

 
214,189

Assets of consolidated Och-Ziff funds:
 
 
 
 
 
 
 

Investments, at fair value

 
8,087,919

 

 
8,087,919

Other assets of Och-Ziff funds

 
198,639

 

 
198,639

Total Assets
$
660,792

 
$
8,201,498

 
$
814,127

 
$
9,676,417

 
 
 
 
 
 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Due to related parties
$
1,822

 
$

 
$
701,110

 
$
702,932

Debt obligations
451,187

 

 

 
451,187

Compensation payable
20,760

 

 

 
20,760

Other liabilities
92,538

 
(2,202
)
 
887

 
91,223

Liabilities of consolidated Och-Ziff funds:
 
 
 
 
 
 
 

Notes payable of consolidated CLOs, at fair value

 
5,767,296

 

 
5,767,296

Securities sold under agreements to repurchase

 
274,250

 

 
274,250

Other liabilities of Och-Ziff funds

 
42,158

 

 
42,158

Total Liabilities
566,307

 
6,081,502

 
701,997

 
7,349,806

 
 
 
 
 
 
 
 
Redeemable Noncontrolling Interests

 
708,813

 

 
708,813

 
 
 
 
 
 
 
 
Shareholders' Equity
 
 
 
 
 
 
 
Class A Shares, no par value

 

 

 

Class B Shares, no par value

 

 

 

Paid-in capital
12,547,916

 

 
(9,530,227
)
 
3,017,689

Appropriated retained deficit

 
(2,321
)
 

 
(2,321
)
Retained earnings (accumulated deficit)
(12,456,646
)
 

 
9,133,270

 
(3,323,376
)
Shareholders' equity (deficit) attributable to Class A Shareholders
91,270

 
(2,321
)
 
(396,957
)
 
(308,008
)
Shareholders' equity attributable to noncontrolling interests
3,215

 
1,413,504

 
509,087

 
1,925,806

Total Shareholders' Equity
94,485

 
1,411,183

 
112,130

 
1,617,798

Total Liabilities, Redeemable Noncontrolling Interests and Shareholders' Equity
$
660,792

 
$
8,201,498

 
$
814,127

 
$
9,676,417

(1)
Includes amounts related to entities not included in the Och-Ziff Operating Group or the consolidated Och-Ziff funds, including related eliminations.





 
Three Months Ended March 31, 2015
 
Och-Ziff
Operating Group
 
Consolidated
Och-Ziff Funds
and Related
Eliminations
 
Other(1)
 
Och-Ziff Capital Management Group LLC Consolidated
 
 
 
 
 
 
 
 
 
(dollars in thousands)
Revenues
 
 
 
 
 
 
 
Management fees
$
176,490

 
$
(10,547
)
 
$

 
$
165,943

Incentive income
83,756

 
(26,646
)
 

 
57,110

Other revenues
445

 

 
16

 
461

Income of consolidated Och-Ziff funds

 
109,337

 

 
109,337

Total Revenues
260,691

 
72,144

 
16

 
332,851

 
 
 
 
 
 
 
 
Expenses
 
 
 
 
 
 
 
Compensation and benefits
69,918

 

 

 
69,918

Reorganization expenses
4,017

 

 

 
4,017

Interest expense
5,245

 

 

 
5,245

General, administrative and other
49,861

 

 
(26
)
 
49,835

Expenses of consolidated Och-Ziff funds

 
59,888

 

 
59,888

Total Expenses
129,041

 
59,888

 
(26
)
 
188,903

 
 
 
 
 
 
 
 
Other Income
 
 
 
 
 
 
 
Net gains on investments in Och-Ziff funds and joint ventures
340

 
(223
)
 

 
117

Net gains of consolidated Och-Ziff funds

 
45,885

 

 
45,885

Total Other Income
340

 
45,662

 

 
46,002

 
 
 
 
 
 
 
 
Income Before Income Taxes
131,990

 
57,918

 
42

 
189,950

Income taxes
3,751

 

 
21,409

 
25,160

Consolidated and Total Comprehensive Net Income (Loss)
$
128,239

 
$
57,918

 
$
(21,367
)
 
$
164,790

 
 
 
 
 
 
 
 
Allocation of Consolidated and Total Comprehensive Net Income (Loss)
 
 
 
 
 
 
 
Class A Shareholders
$
47,238

 
$

 
$
(21,367
)
 
$
25,871

Noncontrolling interests
81,001

 
52,352

 

 
133,353

Redeemable noncontrolling interests

 
5,566

 

 
5,566

 
$
128,239

 
$
57,918

 
$
(21,367
)
 
$
164,790

(1)
Includes amounts related to entities not included in the Och-Ziff Operating Group or the consolidated Och-Ziff funds, including related eliminations.