SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of maximum exposure to loss in VIEs in which the entity is not determined to be the primary beneficiary

	March 31, 2013		December 31, 2012
Investments	$	209,561	$	188,408
Due from Affiliates, net	7,914		2,266
Maximum Exposure to Loss	$	217,475	$	190,674

Schedule of calculation of noncontrolling interests held by KKR Holdings

	Three Months Ended March 31,
	2013			2012
Balance at the beginning of the period	$	4,981,864		$	4,342,157
Net income (loss) attributable to noncontrolling interests held by KKR Holdings (a)	334,112			404,191
Other comprehensive income (b)	(1,320		)	2,670
Impact of the exchange of KKR Holdings units to KKR & Co. L.P. units (c)	(91,015		)	(46,229		)
Equity based compensation	54,232			98,077
Capital contributions	471			714
Capital distributions	(327,430		)	(240,966		)

Balance at the end of the period	$	4,950,914		$	4,560,614

(a) Refer to the table below for calculation of Net income (loss) attributable to noncontrolling interests held by KKR Holdings.

(b) Calculated on a pro rata basis based on the weighted average KKR Group Partnership Units held by KKR Holdings during the reporting period.

(c) Calculated based on the proportion of KKR Holdings units exchanged for KKR & Co. L.P. common units pursuant to the exchange agreement during the reporting period. The exchange agreement provides for the exchange of KKR Group Partnership Units held by KKR Holdings for KKR & Co. L.P. common units.

Schedule of calculation of net income (loss) attributable to noncontrolling interests held by KKR Holdings

	Three Months Ended March 31,
	2013		2012
Net income (loss)	$	2,098,186	$	2,971,975
Less: Net income (loss) attributable to Redeemable Noncontrolling Interests	24,623		5,272
Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities	1,546,012		2,372,076
Plus: Income taxes attributable to KKR Management Holdings Corp.	6,659		13,344
Net income (loss) attributable to KKR & Co. L.P. and KKR Holdings	$	534,210	$	607,971

Net income (loss) attributable to noncontrolling interests held by KKR Holdings	$	334,112	$	404,191

Schedule of fees

	Three Months Ended March 31,
	2013		2012
Transaction Fees	$	38,425	$	43,662
Monitoring & Consulting Fees	52,961		42,770
Management Fees	41,024		20,205
Incentive Fees	18,830		9,670
Total Fees	$	151,240	$	116,307

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

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-Paragraph 4

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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Reference 11: http://www.xbrl.org/2003/role/presentationRef

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+ Details