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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 173.6 $ 1,126.1
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 137.0 102.7
Equity-based compensation 186.8 139.3
Non-cash performance allocations and incentive fees, net 427.3 184.1
Non-cash principal investment income (91.6) (483.8)
Other non-cash amounts 8.1 (27.4)
Consolidated Funds related:    
Realized/unrealized (gain) loss on investments of Consolidated Funds (262.7) 319.3
Realized/unrealized (gain) loss from loans payable of Consolidated Funds 252.8 (268.3)
Purchases of investments by Consolidated Funds (2,321.1) (3,090.1)
Proceeds from sale and settlements of investments by Consolidated Funds 1,693.8 2,418.4
Non-cash interest income, net (21.2) (7.6)
Change in cash and cash equivalents held at Consolidated Funds (178.1) (29.5)
Change in other receivables held at Consolidated Funds (30.2) 15.8
Change in other liabilities held at Consolidated Funds 9.3 (380.1)
Purchases of investments (221.3) (559.6)
Proceeds from the sale of investments 338.4 388.3
Payments of contingent consideration (68.6) (5.7)
Changes in deferred taxes, net (103.3) (2.3)
Change in due from affiliates and other receivables 16.7 (62.6)
Change in deposits and other (38.5) (12.8)
Change in accounts payable, accrued expenses and other liabilities (101.8) (27.7)
Change in accrued compensation and benefits (128.3) (265.3)
Change in due to affiliates (8.8) 2.4
Change in lease right-of-use assets and lease liabilities (7.5) (7.0)
Change in deferred revenue 290.0 274.9
Net cash used in operating activities (49.2) (258.5) Close
Cash flows from investing activities    
Purchases of corporate treasury investments (187.3) (69.6)
Proceeds from corporate treasury investments 152.4 0.0
Purchases of fixed assets, net (49.6) (25.0)
Purchase of Abingworth, net of cash acquired 0.0 (150.2)
Purchase of CBAM intangibles and investments, net 0.0 (618.4)
Net cash used in investing activities (84.5) (863.2) Close
Cash flows from financing activities    
Payments on CLO borrowings (7.3) (8.9)
Proceeds from CLO borrowings, net of financing costs 10.0 55.2
Net borrowings on loans payable of Consolidated Funds 777.2 449.4
Dividends to common stockholders (371.4) (325.4)
Payment of deferred consideration for Carlyle Holdings units (68.8) (68.8)
Contributions from non-controlling interest holders 99.0 282.1
Distributions to non-controlling interest holders (99.7) (173.5)
Common shares issued for performance allocations 0.0 38.9
Common shares repurchased (203.7) (146.9)
Change in due to/from affiliates financing activities (82.7) (13.2)
Net cash provided by financing activities 52.6 88.9 Close
Effect of foreign exchange rate changes (8.2) (79.8) Close
Decrease in cash, cash equivalents and restricted cash (89.3) (1,112.6) Close
Cash, cash equivalents and restricted cash, beginning of period 1,361.5 2,475.1
Cash, cash equivalents and restricted cash, end of period 1,272.2 1,362.5
Supplemental non-cash disclosures    
Net asset impact of deconsolidation of Consolidated Funds (110.4) 0.0
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Cash and cash equivalents 1,267.7 1,361.9
Restricted cash 4.5 0.6
Total cash, cash equivalents and restricted cash, end of period 1,272.2 1,362.5
Cash and cash equivalents held at Consolidated Funds 352.3 177.2
Consolidated Operating Entities    
Cash flows from operating activities    
Net income 104.9 1,112.1
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 137.0 102.7
Equity-based compensation 186.8 139.3
Non-cash performance allocations and incentive fees, net 425.0 179.4
Non-cash principal investment income (100.0) (434.9)
Other non-cash amounts 8.1 (27.4)
Consolidated Funds related:    
Purchases of investments (244.9) (582.4)
Proceeds from the sale of investments 351.8 410.2
Payments of contingent consideration (68.6) (5.7)
Changes in deferred taxes, net (103.3) (2.3)
Change in due from affiliates and other receivables 16.9 (62.0)
Change in deposits and other (38.5) (12.8)
Change in accounts payable, accrued expenses and other liabilities (101.8) (27.7)
Change in accrued compensation and benefits (128.3) (265.3)
Change in due to affiliates (8.8) 2.4
Change in lease right-of-use assets and lease liabilities (7.5) (7.0)
Change in deferred revenue 290.0 274.9
Net cash used in operating activities 718.8 793.5
Cash flows from investing activities    
Purchases of corporate treasury investments (187.3) (69.6)
Proceeds from corporate treasury investments 152.4 0.0
Purchases of fixed assets, net (49.6) (25.0)
Purchase of Abingworth, net of cash acquired 0.0 (150.2)
Purchase of CBAM intangibles and investments, net 0.0 (618.4)
Net cash used in investing activities (84.5) (863.2)
Cash flows from financing activities    
Payments on CLO borrowings (7.3) (8.9)
Proceeds from CLO borrowings, net of financing costs 10.0 55.2
Dividends to common stockholders (371.4) (325.4)
Payment of deferred consideration for Carlyle Holdings units (68.8) (68.8)
Contributions from non-controlling interest holders 7.9 7.2
Distributions to non-controlling interest holders (48.9) (52.5)
Common shares issued for performance allocations 0.0 38.9
Common shares repurchased (203.7) (146.9)
Change in due to/from affiliates financing activities (36.4) (471.6)
Net cash provided by financing activities (718.6) (972.8)
Effect of foreign exchange rate changes (5.0) (70.1)
Decrease in cash, cash equivalents and restricted cash (89.3) (1,112.6)
Cash, cash equivalents and restricted cash, beginning of period 1,361.5 2,475.1
Cash, cash equivalents and restricted cash, end of period 1,272.2 1,362.5
Supplemental non-cash disclosures    
Issuance of common shares related to the acquisition of CBAM and Abingworth 0.0 219.5
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Cash and cash equivalents 1,267.7 1,361.9
Restricted cash 4.5 0.6
Total cash, cash equivalents and restricted cash, end of period 1,272.2 1,362.5
Cash and cash equivalents held at Consolidated Funds $ 352.3 $ 177.2