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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 1,184.4 $ 328.9 $ 1,007.4
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization 65.6 46.9 41.3
Equity-based compensation 140.0 239.9 320.3
Non-cash performance allocations and incentive fees (271.8) 25.9 (626.8)
Non-cash principal investment income (673.1) (179.4) (227.1)
Other non-cash amounts 24.8 3.2 (74.6)
Consolidated Funds related:      
Realized/unrealized (gain) loss on investments of Consolidated Funds 18.9 108.8 (27.0)
Realized/unrealized (gain) loss from loans payable of Consolidated Funds 5.0 (113.3) (61.4)
Purchases of investments by Consolidated Funds (2,239.2) (3,723.8) (2,875.0)
Proceeds from sale and settlements of investments by Consolidated Funds 2,112.7 2,662.9 2,649.3
Non-cash interest income, net (3.8) (4.0) (5.3)
Change in cash and cash equivalents held at Consolidated Funds 50.9 399.4 383.9
Change in other receivables held at Consolidated Funds 61.8 (95.1) (16.7)
Change in other liabilities held at Consolidated Funds (229.2) (59.1) (266.1)
Other non-cash amounts of Consolidated Funds (0.1) 0.0 0.0
Purchases of investments (312.4) (473.6) (888.5)
Purchase of investment in Fortitude Re 0.0 (393.8) 0.0
Proceeds from the sale of investments 389.2 893.4 467.5
Payments of contingent consideration 0.0 (37.5) (22.6)
Deconsolidation of Claren Road 0.0 0.0 (23.3)
Deconsolidation of Urbplan (see Note 16) 0.0 0.0 14.0
Changes in deferred taxes, net 13.9 (19.8) 93.4
Change in due from affiliates and other receivables 49.2 (74.2) 0.3
Change in receivables and inventory of a real estate VIE 0.0 0.0 (14.5)
Change in deposits and other (6.0) (4.0) (2.0)
Change in other assets of a real estate VIE 0.0 0.0 1.6
Change in accounts payable, accrued expenses and other liabilities (43.7) 78.2 50.5
Change in accrued compensation and benefits 51.6 60.8 (13.7)
Change in due to affiliates 24.7 (35.6) 35.7
Change in lease right-of-use assets and lease liabilities (16.9) 0.0 0.0
Change in other liabilities of a real estate VIE 0.0 0.0 47.9
Change in deferred revenue (37.9) 21.4 24.4
Net cash provided by (used in) operating activities 358.6 (343.5) (7.1)
Cash flows from investing activities      
Purchases of fixed assets, net (27.8) (31.3) (34.0)
Acquisitions, net of cash acquired 0.0 (67.8) 0.0
Net cash used in investing activities (27.8) (99.1) (34.0)
Cash flows from financing activities      
Proceeds from issuance of preferred units, net of offering costs and expenses 0.0 0.0 387.5
Redemption of Preferred Units (405.4) 0.0 0.0
Borrowings under credit facilities 92.7 0.0 250.0
Repayments under credit facilities (56.9) 0.0 (250.0)
Repurchase of 3.875% senior notes due 2023 0.0 (255.1) 0.0
Repayment of term loan (25.0) 0.0 0.0
Proceeds from debt obligations, net of financing costs 41.0 40.8 265.6
Payments on debt obligations (45.2) (156.7) (21.7)
Net payments on loans payable of a real estate VIE 0.0 0.0 (14.3)
Net borrowings on loans payable of Consolidated Funds 224.8 818.0 147.2
Payments of contingent consideration (0.2) 0.0 (0.6)
Distributions to common unitholders (154.9) (129.8) (118.1)
Distributions to preferred unitholders (17.7) (23.6) (6.0)
Distributions to non-controlling interest holders in Carlyle Holdings (313.3) (288.8) (295.6)
Contributions from non-controlling interest holders 57.8 31.3 119.2
Distributions to non-controlling interest holders (62.4) (105.2) (118.0)
Common units repurchased (34.5) (107.5) (0.2)
Change in due to/from affiliates financing activities 129.4 (97.1) (26.4)
Net cash (used in) provided by financing activities (149.2) 72.0 318.6
Effect of foreign exchange rate changes 8.1 (19.9) 67.3
Increase (Decrease) in cash, cash equivalents and restricted cash 189.7 (390.5) 344.8
Cash, cash equivalents and restricted cash, beginning of period 638.3 1,028.8 684.0
Cash, cash equivalents and restricted cash, end of period 828.0 638.3 1,028.8
Supplemental cash disclosures      
Cash paid for interest 63.4 60.7 59.5
Cash paid for income taxes 30.5 46.8 24.8
Supplemental non-cash disclosures      
Net increase in partners’ capital and accumulated other comprehensive income related to reallocation of ownership interest in Carlyle Holdings 60.2 18.5 24.8
Net decrease to partners’ capital from deferred consideration for Carlyle Holdings units, net of tax (see Note 10) (252.8) 0.0 0.0
Net asset impact of deconsolidation of Consolidated Funds (24.3) 0.0 0.0
Non-cash distributions to non-controlling interest holders (22.4) (13.4) 0.0
Tax effect from acquisition of Carlyle Holdings partnership units:      
Deferred tax asset 6.4 12.3 38.7
Tax receivable agreement liability 5.4 10.6 30.7
Total partners’ capital 1.0 1.7 8.0
Reconciliation of cash, cash equivalents and restricted cash, end of period:      
Total cash, cash equivalents and restricted cash, end of period 638.3 1,028.8 1,028.8
3.500% Senior Notes Due 2029      
Cash flows from financing activities      
Issuance of senior notes, net of financing costs 420.6 0.0 0.0
5.650% Senior Notes Due 2048      
Cash flows from financing activities      
Issuance of senior notes, net of financing costs $ 0.0 $ 345.7 $ 0.0