Supplemental Financial Information (Tables)

12 Months Ended

Dec. 31, 2012

Supplemental Financial Position

The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Partnership’s financial position as of December 31, 2012 and 2011 and results of operations for the years ended December 31, 2012, 2011 and 2010. The supplemental statement of cash flows is presented without effects of the Consolidated Funds.

	As of December 31, 2012
	Consolidated Operating Entities			Consolidated Funds			Eliminations			Consolidated
				(Dollars in millions)
Assets
Cash and cash equivalents	$	567.1		$	—		$	—		$	567.1
Cash and cash equivalents held at Consolidated Funds		—			1,646.6			—			1,646.6
Restricted cash		34.5			—			—			34.5
Restricted cash and securities of Consolidated Funds		—			36.3			—			36.3
Accrued performance fees		2,204.9			—			(12.4	)		2,192.5
Investments		932.6			—			(51.4	)		881.2
Investments of Consolidated Funds		—			24,815.7			—			24,815.7
Due from affiliates and other receivables, net		201.5			—			(10.8	)		190.7
Due from affiliates and other receivables of Consolidated Funds, net		—			331.8			—			331.8
Fixed assets, net		63.6			—			—			63.6
Deposits and other		44.2			4.2			—			48.4
Intangible assets, net		691.1			—			—			691.1
Deferred tax assets		67.1			—			—			67.1
Total assets	$	4,806.6		$	26,834.6		$	(74.6	)	$	31,566.6
Liabilities and partners’ capital
Loans payable	$	886.3		$	—		$	—		$	886.3
Loans payable of Consolidated Funds		—			13,708.2			(51.5	)		13,656.7
Accounts payable, accrued expenses and other liabilities		215.0			—			—			215.0
Accrued compensation and benefits		1,318.2			—			—			1,318.2
Due to affiliates		290.4			42.1			(0.4	)		332.1
Deferred revenue		57.9			1.5			—			59.4
Deferred tax liabilities		61.1			—			—			61.1
Other liabilities of Consolidated Funds		—			1,405.0			(19.2	)		1,385.8
Accrued giveback obligations		79.0			—			(9.8	)		69.2
Total liabilities		2,907.9			15,156.8			(80.9	)		17,983.8
Redeemable non-controlling interests in consolidated entities		6.0			2,881.4			—			2,887.4
Partners’ capital		235.1			(4.7	)		4.7			235.1
Accumulated other comprehensive loss		(5.0	)		—			0.2			(4.8	)
Partners’ capital appropriated for Consolidated Funds		—			837.2			1.4			838.6
Non-controlling interests in consolidated entities		300.9			7,963.9			—			8,264.8
Non-controlling interests in Carlyle Holdings		1,361.7			—			—			1,361.7
Total partners’ capital		1,892.7			8,796.4			6.3			10,695.4
Total liabilities and partners’ capital	$	4,806.6		$	26,834.6		$	(74.6	)	$	31,566.6

	As of December 31, 2011
	Consolidated Operating Entities			Consolidated Funds		Eliminations			Consolidated
				(Dollars in millions)
Assets
Cash and cash equivalents	$	509.6		$	—	$	—		$	509.6
Cash and cash equivalents held at Consolidated Funds		—			566.6		—			566.6
Restricted cash		24.6			—		—			24.6
Restricted cash and securities of Consolidated Funds		—			89.2		—			89.2
Accrued performance fees		2,219.9			—		(30.8	)		2,189.1
Investments		517.3			—		(62.4	)		454.9
Investments of Consolidated Funds		—			19,507.3		—			19,507.3
Due from affiliates and other receivables, net		297.2			—		(10.2	)		287.0
Due from affiliates and other receivables of Consolidated Funds, net		—			287.7		(0.1	)		287.6
Fixed assets, net		52.7			—		—			52.7
Deposits and other		60.7			9.5		—			70.2
Intangible assets, net		594.9			—		—			594.9
Deferred tax assets		18.0			—		—			18.0
Total assets	$	4,294.9		$	20,460.3	$	(103.5	)	$	24,651.7
Liabilities and partners’ capital
Loans payable	$	860.9		$	—	$	—		$	860.9
Subordinated loan payable to affiliate		262.5			—		—			262.5
Loans payable of Consolidated Funds		—			9,738.9		(49.0	)		9,689.9
Accounts payable, accrued expenses and other liabilities		203.4			—		—			203.4
Accrued compensation and benefits		577.9			—		—			577.9
Due to Carlyle partners		1,015.9			—		—			1,015.9
Due to affiliates		71.3			37.3		(0.1	)		108.5
Deferred revenue		87.3			1.9		—			89.2
Deferred tax liabilities		48.3			—		—			48.3
Other liabilities of Consolidated Funds		—			589.7		(21.6	)		568.1
Accrued giveback obligations		136.5			—		—			136.5
Total liabilities		3,264.0			10,367.8		(70.7	)		13,561.1
Redeemable non-controlling interests in consolidated entities		8.0			1,915.4		—			1,923.4
Members’ equity		879.1			22.9		(28.9	)		873.1
Accumulated other comprehensive loss		(61.8	)		—		6.0			(55.8	)
Partners’ capital appropriated for Consolidated Funds		—			863.6		(9.9	)		853.7
Non-controlling interests in consolidated entities		205.6			7,290.6		—			7,496.2
Total partners’ capital		1,022.9			8,177.1		(32.8	)		9,167.2
Total liabilities and partners’ capital	$	4,294.9		$	20,460.3	$	(103.5	)	$	24,651.7

Supplemental Results of Operations

	Year Ended December 31, 2012
	Consolidated Operating Entities		Consolidated Funds		Eliminations			Consolidated
	(Dollars in millions)
Revenues
Fund management fees	$	1,115.7	$	—	$	(138.1	)	$	977.6
Performance fees
Realized		933.6		—		(26.1	)		907.5
Unrealized		126.6		—		7.0			133.6
Total performance fees		1,060.2		—		(19.1	)		1,041.1
Investment income
Realized		31.0		—		(14.7	)		16.3
Unrealized		19.5		—		0.6			20.1
Total investment income		50.5		—		(14.1	)		36.4
Interest and other income		14.5		—		—			14.5
Interest and other income of Consolidated Funds		—		903.5		—			903.5
Total revenues		2,240.9		903.5		(171.3	)		2,973.1
Expenses
Compensation and benefits
Base compensation		624.5		—		—			624.5
Equity-based compensation		201.7		—		—			201.7
Performance fee related
Realized		285.5		—		—			285.5
Unrealized		32.2		—		—			32.2
Total compensation and benefits		1,143.9		—		—			1,143.9
General, administrative and other expenses		360.0		—		(2.5	)		357.5
Interest		24.6		—		—			24.6
Interest and other expenses of Consolidated Funds		—		923.9		(165.8	)		758.1
Other non-operating expenses		7.1		—		—			7.1
Total expenses		1,535.6		923.9		(168.3	)		2,291.2
Other income
Net investment gains of Consolidated Funds		—		1,755.5		2.5			1,758.0
Income before provision for income taxes		705.3		1,735.1		(0.5	)		2,439.9
Provision for income taxes		40.4		—		—			40.4
Net income		664.9		1,735.1		(0.5	)		2,399.5
Net income attributable to non-controlling interests in consolidated entities		22.1		—		1,734.6			1,756.7
Net income attributable to Carlyle Holdings		642.8		1,735.1		(1,735.1	)		642.8
Net income attributable to non-controlling interests in Carlyle Holdings		622.5		—		—			622.5
Net income attributable to The Carlyle Group L.P.	$	20.3	$	1,735.1	$	(1,735.1	)	$	20.3

	Year Ended December 31, 2011
	Consolidated Operating Entities			Consolidated Funds			Eliminations			Consolidated
	(Dollars in millions)
Revenues
Fund management fees	$	1,020.4		$	—		$	(104.9	)	$	915.5
Performance fees
Realized		1,399.0			—			(91.6	)		1,307.4
Unrealized		(237.6	)		—			51.8			(185.8	)
Total performance fees		1,161.4			—			(39.8	)		1,121.6
Investment income
Realized		82.7			—			(17.6	)		65.1
Unrealized		20.4			—			(7.1	)		13.3
Total investment income		103.1			—			(24.7	)		78.4
Interest and other income		15.6			—			0.2			15.8
Interest and other income of Consolidated Funds		—			714.0			—			714.0
Total revenues		2,300.5			714.0			(169.2	)		2,845.3
Expenses
Compensation and benefits
Base compensation		374.5			—			—			374.5
Performance fee related
Realized		225.7			—			—			225.7
Unrealized		(122.3	)		—			—			(122.3	)
Total compensation and benefits		477.9			—			—			477.9
General, administrative and other expenses		323.2			—			0.3			323.5
Interest		60.6			—			—			60.6
Interest and other expenses of Consolidated Funds		—			592.2			(139.1	)		453.1
Other non-operating expenses		32.0			—			—			32.0
Total expenses		893.7			592.2			(138.8	)		1,347.1
Other income (loss)
Net investment losses of Consolidated Funds		—			(330.6	)		7.3			(323.3	)
Gain on acquisition of business		7.9			—			—			7.9
Income (loss) before provision for income taxes		1,414.7			(208.8	)		(23.1	)		1,182.8
Provision for income taxes		28.5			—			—			28.5
Net income (loss)		1,386.2			(208.8	)		(23.1	)		1,154.3
Net income (loss) attributable to non-controlling interests in consolidated entities		29.3			—			(231.9	)		(202.6	)
Net income (loss) attributable to Carlyle Holdings	$	1,356.9		$	(208.8	)	$	208.8		$	1,356.9

	Year Ended December 31, 2010
	Consolidated Operating Entities		Consolidated Funds			Eliminations			Consolidated
	(Dollars in millions)
Revenues
Fund management fees	$	813.6	$	—		$	(43.3	)	$	770.3
Performance fees
Realized		275.1		—			(8.7	)		266.4
Unrealized		1,209.7		—			5.9			1,215.6
Total performance fees		1,484.8		—			(2.8	)		1,482.0
Investment income
Realized		13.6		—			(1.7	)		11.9
Unrealized		78.0		—			(17.3	)		60.7
Total investment income		91.6		—			(19.0	)		72.6
Interest and other income		22.4		—			(1.0	)		21.4
Interest and other income of Consolidated Funds		—		452.6			—			452.6
Total revenues		2,412.4		452.6			(66.1	)		2,798.9
Expenses
Compensation and benefits
Base compensation		265.2		—			—			265.2
Performance fee related
Realized		46.6		—			—			46.6
Unrealized		117.2		—			—			117.2
Total compensation and benefits		429.0		—			—			429.0
General, administrative and other expenses		176.6		—			0.6			177.2
Interest		17.8		—			—			17.8
Interest and other expenses of Consolidated Funds		—		278.0			(44.7	)		233.3
Loss from early extinguishment of debt, net of related expenses		2.5		—			—			2.5
Equity issued for affiliate debt financing		214.0		—			—			214.0
Total expenses		839.9		278.0			(44.1	)		1,073.8
Other loss
Net investment losses of Consolidated Funds		—		(251.5	)		6.1			(245.4	)
Income (loss) before provision for income taxes		1,572.5		(76.9	)		(15.9	)		1,479.7
Provision for income taxes		20.3		—			—			20.3
Net income (loss)		1,552.2		(76.9	)		(15.9	)		1,459.4
Net income (loss) attributable to non-controlling interests in consolidated entities		26.6		—			(92.8	)		(66.2	)
Net income (loss) attributable to Carlyle Holdings	$	1,525.6	$	(76.9	)	$	76.9		$	1,525.6

Supplemental Statement of Cash Flows

	Year Ended December 31,
	2012			2011			2010
	(Dollars in millions)
Cash flows from operating activities
Net income	$	664.9		$	1,386.2		$	1,552.2
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization		107.8			83.1			24.5
Amortization of deferred financing fees		1.3			1.1			1.6
Equity-based compensation		201.7			—			—
Non-cash equity issued for affiliate debt financing		—			—			214.0
Non-cash performance fees		(185.6	)		114.4			(1,338.5	)
(Gain) loss on early extinguishment of debt					—			2.5
Other non-cash amounts		7.1			32.0			(25.9	)
Investment income		(39.9	)		(84.2	)		(87.9	)
Purchases of investments (includes investment in NGP Management in 2012 of $385.8)		(520.3	)		(128.4	)		(95.5	)
Proceeds from the sale of investments		217.5			300.9			46.9
Purchases of trading securities		(20.1	)		(6.7	)		(19.3	)
Proceeds from the sale of trading securities		15.7			0.2			7.9
Change in deferred taxes		(9.3	)		(19.8	)		2.0
Change in due from affiliates and other receivables		10.1			26.1			14.5
Change in deposits and other		9.4			(21.9	)		(16.2	)
Change in accounts payable, accrued expenses and other liabilities		3.4			(51.6	)		41.9
Change in accrued compensation and benefits		(5.3	)		(91.7	)		121.8
Change in due to affiliates		(23.6	)		31.3			(5.9	)
Change in deferred revenue		(30.1	)		(110.7	)		(7.3	)
Net cash provided by operating activities		404.7			1,460.3			433.3
Cash flows from investing activities
Change in restricted cash		(9.6	)		(8.6	)		(0.3	)
Purchases of fixed assets, net		(32.7	)		(34.2	)		(21.2	)
Purchases of intangible assets		(41.0	)		(8.1	)		(58.5	)
Acquisitions, net of cash acquired		(42.8	)		(53.9	)		(105.6	)
Net cash used in investing activities		(126.1	)		(104.8	)		(185.6	)
Cash flows from financing activities
Borrowings under credit facility		820.0			520.5			—
Repayments under credit facility		(744.6	)		(209.7	)		—
Proceeds from loans payable		—			—			994.0
Payments on loans payable		(310.0	)		(307.5	)		(411.9	)
Payments of contingent consideration		(10.0	)		—			—
Net proceeds from issuance of common units in initial public offering		615.8			—			—
Distributions to common unitholders		(11.7	)		—			—
Contributions from predecessor owners		9.3			15.1			46.1
Distributions to predecessor owners		(452.3	)		(1,498.4	)		(787.8	)
Contributions from non-controlling interest holders		38.3			30.7			48.1
Distributions to non-controlling interest holders		(176.0	)		(38.8	)		(25.2	)
Change in due to/from affiliates financing activities		0.7			32.9			19.0
Net cash used in financing activities		(220.5	)		(1,455.2	)		(117.7	)
Effect of foreign exchange rate changes		(0.6	)		(7.6	)		(1.2	)
Increase (decrease) in cash and cash equivalents		57.5			(107.3	)		128.8
Cash and cash equivalents, beginning of period		509.6			616.9			488.1
Cash and cash equivalents, end of period	$	567.1		$	509.6		$	616.9