Ares management corporation (ARES)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Jun'13
Revenues
Total revenues

13,409

-

-

-

477,197

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Management fees (includes ARCC Part I Fees of $28,417 and $33,257 for the three months ended March 31, 2018 and 2017, respectively)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

158,051

-

-

-

-

-

81,812

Performance fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-22,223

-

-

-

-

-

3,169

Other fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,321

Expenses
Total expenses

81,959

362,288

395,701

335,701

369,107

215,874

227,188

221,017

206,283

310,967

254,127

448,197

491,467

299,573

283,374

303,935

129,538

185,622

136,386

212,569

234,463

213,470

203,337

259,102

109,793

Other income (expense)
Net realized and unrealized gains (losses) on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,898

Interest and other income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,245

Interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,365

Other income (expense), net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,769

-

-

-

-

-

-

Net change in unrealized appreciation on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11,141

Total other income (expense)

-227,863

26,620

32,787

35,262

27,870

-12,678

38,754

67,926

2,240

137,254

54,149

-8,920

56,635

-15,327

73,339

17,406

-15,451

35,672

-39,553

28,956

11,007

217,624

-48,709

318,973

-109,931

Income (loss) before taxes

-296,413

101,261

103,576

84,383

135,960

18,880

52,343

51,072

62,046

136,943

88,424

115,080

-190,588

98,463

125,425

83,006

-8,974

9,569

-32,085

57,551

46,449

167,636

-76,885

191,489

-130,422

Income tax expense (benefit)

-20,616

16,786

11,701

9,505

14,384

2,543

5,131

36,903

-12,375

5,407

4,552

1,253

-34,264

3,147

7,641

-4,434

4,665

3,323

5,579

6,103

4,059

-

2,399

5,267

6,312

Net income (loss)

-275,797

84,475

91,875

74,878

121,576

16,337

47,212

14,169

74,421

131,536

83,872

113,827

-156,324

95,316

117,784

87,440

-13,639

6,246

-37,664

51,448

42,390

157,354

-79,284

186,222

-136,734

Net income (loss) attributable to non-controlling interests related to consolidated VIEs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-16,977

-

-

-

-

-

-

Less: Net income attributable to redeemable interests in Ares Operating Group entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

185

-

-

-

-

-

Less: net income (loss) attributable to redeemable, non-controlling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-119

-

-

-

-

-

-

Net income (loss) attributable to Ares Management Corporation

-31,036

38,465

33,331

32,139

44,949

11,937

15,910

-11,775

40,948

39,596

27,838

49,878

-41,134

34,019

43,305

37,574

-3,090

185

-11,349

12,086

18,456

3,175

13,971

17,842

-

Less: Series A Preferred Stock dividends paid

5,425

5,425

5,425

5,425

5,425

5,425

5,425

5,425

5,425

5,425

5,425

5,425

5,425

5,425

6,751

0

0

-

-

-

-

-

-

-

-

Net income (loss) attributable to Ares Management Corporation Class A common stockholders

-36,461

33,040

27,906

26,714

39,524

6,512

10,485

-17,200

35,523

34,171

22,413

44,453

-46,559

28,594

36,554

37,574

-3,090

-

-11,349

-

-

-

-

-

-

Net income (loss) attributable per share of Class A common stock
Basic (in dollars per share)

-0.33

0.27

0.24

0.24

0.36

0.02

0.09

-0.20

0.39

0.40

0.26

0.54

-0.58

-

0.45

0.46

-0.04

-0.01

-0.14

0.15

0.23

0.04

0.17

0.22

-

Diluted (in dollars per share)

-0.33

0.24

0.23

0.23

0.36

0.13

0.09

-0.20

0.28

0.41

0.26

0.53

-0.58

-

0.43

0.46

-0.04

-0.01

-0.14

0.15

0.23

0.04

0.17

0.22

-

Weighted-average shares of Class A common stock:
Basic (in shares)

118,366

115,082

108,481

105,188

102,906

101,730

98,706

98,037

85,617

82,249

82,166

81,829

81,106

80,805

80,793

80,715

80,683

80,678

80,676

80,671

80,667

-

80,667

79,424

-

Diluted (in shares)

118,366

130,316

121,890

116,603

110,699

-26,504

98,706

98,037

213,852

79,758

82,166

84,319

81,106

84,268

84,464

82,332

80,683

79,628

80,676

81,720

80,667

-

81,363

79,424

-

Dividend declared and paid per share of Class A common stock (in dollar per share)

-

-

-

0.32

-

-

-

0.37

0.40

0.41

0.31

0.13

0.28

-

0.28

0.15

0.20

0.13

0.26

0.25

0.24

-

0.18

-

-

Administrative, transaction and other fees
Total revenues

0

0

0

0

0

-

0

0

0

0

0

0

0

-

-

-

-

-

8,026

-

-

-

-

-

-

Ares Management L.P
Total revenues

13,409

436,929

466,490

384,822

477,197

247,432

240,777

204,163

266,089

310,656

288,402

572,197

244,244

413,363

335,460

369,535

136,015

159,519

143,854

241,164

269,905

163,482

175,161

131,618

89,302

Management fees (includes ARCC Part I Fees of $105,467, $121,181 and $121,491 for the years ended December 31, 2017, 2016 and 2015, respectively)

-

-

-

-

-

-

-

-

-

-

-

-

172,045

-

-

-

-

-

-

-

-

-

-

-

-

Carried interest allocation

-

-

-

-

-

-

-

-

-

-

-

-

52,007

-

-

-

-

-

-

-

-

-

-

-

-

Incentive fees

-

-

-

-

-

-

-

-

-

-

-

-

3,165

-

-

-

-

-

-

-

-

-

-

-

-

Principal investment income

-

-

-

-

-

-

-

-

-

-

-

-

2,587

-

-

-

-

-

-

-

-

-

-

-

-

Administrative Services Revenue

-

-

-

-

-

-

-

-

-

-

-

-

14,440

-

-

-

-

-

-

-

-

-

-

-

-

Revenues

-

-

-

-

-

-

-

-

-

-

-

-

244,244

-

-

-

-

-

-

-

-

-

-

-

-

Compensation and benefits

180,084

168,120

166,216

162,170

156,846

151,155

145,594

138,992

134,639

129,204

129,347

131,219

124,339

-

-

-

-

-

-

-

-

-

-

-

75,559

Performance related compensation

-167,899

108,757

139,216

92,688

156,520

-225

17,606

-13,005

25,878

118,678

58,637

261,705

40,702

-

-

-

-

-

-

-

-

-

-

-

-4,045

General, administrative and other expenses

62,331

74,231

79,385

65,416

51,187

60,441

51,155

59,918

44,450

51,537

47,104

50,751

47,338

-

-

-

-

-

-

-

-

-

-

-

25,664

Transaction support expense

-

-

-

-

-

-

-

-

-

0

0

0

275,177

-

-

-

-

-

-

-

-

-

-

-

-

Total expenses

-

-

-

-

-

-

-

-

206,283

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized and unrealized gains (losses) on investments

-8,034

4,035

1,522

521

3,476

-9,854

5,542

3,267

-839

68,505

4,229

-6,588

888

-

-

-

-

-

-

-

-

-

-

-

-

Interest and dividend income

1,790

1,980

2,030

1,652

1,844

517

808

2,356

3,347

7,568

1,761

1,462

1,924

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense

5,306

3,598

4,691

5,793

5,589

4,360

4,143

6,076

6,869

5,643

5,343

5,354

4,879

-

-

-

-

-

-

-

-

-

-

-

-

Other income (expense), net

5,464

-6,270

-1,870

4,797

-4,497

636

811

-1,987

-311

2,644

-2,492

2,822

16,496

-

-

-

-

-

-

-

-

-

-

-

-

Total other income

-

-

-

-

-

-

-

-

2,240

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax expense (benefit)

-

-

-

-

-

-

-

-

-

5,583

3,354

857

-34,733

-

-

-

-

-

-

-

-

-

-

-

-

Consolidated Funds
Expenses of Consolidated Funds

7,443

11,180

10,884

15,427

4,554

4,503

12,833

35,112

1,316

11,548

19,039

4,522

3,911

-

-

-

-

-

-

-

-

-

-

-

-

Net realized and unrealized gains (losses) on investments

-254,761

11,880

-992

-116

4,364

-28,422

5,437

34,487

-13,085

44,861

35,940

-12,713

32,036

-

-

-

-

-

-

-

-

-

-

-

-

Interest and dividend income

-

-

-

-

-

-

-

-

-

-

-

-

41,492

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense

80,241

73,694

71,134

68,005

64,912

58,953

62,763

56,754

44,425

40,403

28,127

26,875

31,322

-

-

-

-

-

-

-

-

-

-

-

-

Interest and other income of Consolidated Funds

113,225

92,287

107,922

102,206

93,184

87,758

93,062

92,633

64,422

-

48,181

38,326

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax expense (benefit)

-

-

-

-

-

-

-

-

-

-176

1,198

396

469

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss) attributable to non-controlling interests related to consolidated VIEs

-166,406

-2,174

15,908

8,346

17,624

-2,906

13,169

9,882

367

35,415

18,195

-8,647

15,855

-

-

-

-

-

-

-

-

-

-

-

-

AOG
Net income (loss) attributable to non-controlling interests related to consolidated VIEs

-78,355

48,184

42,636

34,393

59,003

7,306

18,133

16,062

33,106

56,525

37,839

72,596

-131,045

-

-

-

-

-

-

-

-

-

-

-

-