XML 68 R35.htm IDEA: XBRL DOCUMENT v2.4.0.8
Related Party Transactions and Interests in Consolidated Entities (Tables)
 3 Months Ended
Mar. 31, 2014
Related Party Transactions [Abstract]  
Due from and Due to Affiliates
Due from affiliates and due to affiliates are comprised of the following:
 
As of 
 March 31, 2014
 
As of 
 December 31, 2013
 
Due from Affiliates:
 
 
 
 
Due from private equity funds
$
47,742

 
$
57,582

 
Due from portfolio companies
40,267

 
23,484

 
Due from credit funds(1)
283,852

 
216,750

 
Due from Contributing Partners, employees and former employees
1,381

 
2,659

 
Due from real estate funds
14,923

 
12,119

 
Other
15

 
4,653

 
Total Due from Affiliates
$
388,180

 
$
317,247

 
Due to Affiliates:
 
 
 
 
Due to Managing Partners and Contributing Partners in connection with the tax receivable agreement
$
523,324

 
$
525,483

 
Due to private equity funds
2,322

 
825

 
Due to credit funds
2,725

 
1,773

 
Distributions payable to employees
18,687

 
67,290

 
Total Due to Affiliates
$
547,058

 
$
595,371

 


(1)
Includes Athene Services Derivative as discussed in "Athene" below.
Amount of Quarterly Distribution
In addition to other distributions such as payments pursuant to the tax receivable agreement, the table below presents information regarding the quarterly distributions which were made at the sole discretion of the manager of the Company during 2013 and 2014 (in millions, except per share amounts):
Distribution
Declaration Date
 
Distribution
per
Class A 
Share
Amount
 
Distribution
Payment Date
 
Distribution
to
Class A
Shareholders
 
Distribution to
Non-Controlling
Interest Holders
in the Apollo
Operating 
Group
 
Total
Distributions
from
Apollo 
Operating
Group
 
Distribution
Equivalents 
on
Participating
Securities
February 8, 2013
 
$
1.05

 
February 28, 2013
 
$
138.7

 
$
252.0

 
$
390.7

 
$
25.0

April 12, 2013
 
—

 
April 12, 2013
 
—

 
55.2

(1) 
55.2

 
—

May 6, 2013
 
0.57

 
May 30, 2013
 
80.8

 
131.8

 
212.6

 
14.3

August 8, 2013
 
1.32

 
August 30, 2013
 
189.7

 
305.2

 
494.9

 
30.8

November 7, 2013
 
1.01

 
November 29, 2013
 
147.7

 
231.2

 
378.9

 
24.1

For the year ended December 31, 2013
 
$
3.95

 
 
 
$
556.9

 
$
975.4

 
$
1,532.3

 
$
94.2

February 7, 2014
 
$
1.08

 
February 26, 2014
 
$
160.9

 
$
247.3

 
$
408.2

 
$
25.5

For the three months ended March 31, 2014
 
$
1.08

 
 
 
$
160.9

 
$
247.3

 
$
408.2

 
$
25.5


(1)
On April 12, 2013, the Company made a $0.23 distribution to the non-controlling interest holders in the Apollo Operating Group.
Net Income Attributable to Non-Controlling Interests
The table below presents equity interests in Apollo’s consolidated, but not wholly-owned, subsidiaries and funds. Net income attributable to Non-Controlling Interests consisted of the following: 
 
For the Three Months Ended 
 March 31,
 
2014
 
2013
 
(in thousands)
AAA(1)
$
(199,269
)
 
$
(45,682
)
Interest in management companies and a co-investment vehicle(2)
(3,585
)
 
(3,836
)
Other consolidated entities
(4,698
)
 
21,919

Net income attributable to Non-Controlling Interests in consolidated entities
(207,552
)
 
(27,599
)
Net income attributable to Appropriated Partners’ Capital(3)
(24,823
)
 
(38,242
)
Net income attributable to Non-Controlling Interests in the Apollo Operating Group
(155,100
)
 
(485,246
)
Net Income attributable to Non-Controlling Interests
$
(387,475
)
 
$
(551,087
)
Net income attributable to Appropriated Partners’ Capital(4)
24,823

 
38,242

Comprehensive Income Attributable to Non-Controlling Interests
$
(362,652
)
 
$
(512,845
)
 
(1)
Reflects the Non-Controlling Interests in the net (income) loss of AAA and is calculated based on the Non-Controlling Interests ownership percentage in AAA, which was approximately 97.5% and 97.3% as of March 31, 2014 and 2013, respectively. As of March 31, 2014 and 2013, Apollo owned approximately 2.5% and 2.7% of AAA, respectively.
(2)
Reflects the remaining interest held by certain individuals who receive an allocation of income from certain of our credit funds.
(3)
Reflects net income of the consolidated CLOs classified as VIEs.
(4)
Appropriated Partners’ Capital is included in total Apollo Global Management, LLC shareholders’ equity and is therefore not a component of comprehensive income attributable to Non-Controlling Interests on the condensed consolidated statements of comprehensive income.