CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Cash Flows from Operating Activities: |
|
|
| Net Income |
$ 575,960
|
$ 326,131
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Equity-based compensation |
74,203
|
73,786
|
| Depreciation and amortization |
14,139
|
33,347
|
| Unrealized gains from investment activities |
(50,084)
|
(108,252)
|
| Cash distributions of earnings from equity method investments |
17,079
|
24,617
|
| Satisfaction of contingent obligations |
(10,096)
|
0
|
| Income from equity method investments |
(64,356)
|
(18,079)
|
| Deferred taxes, net |
52,184
|
17,277
|
| Other non-cash amounts included in net income, net |
970
|
(44,379)
|
| Changes in assets and liabilities: |
|
|
| Carried interest receivable |
(348,815)
|
258,317
|
| Due from related parties |
(49,863)
|
(18,481)
|
| Accounts payable and accrued expenses |
24,306
|
15,506
|
| Accrued compensation and benefits |
65,602
|
71,790
|
| Deferred revenue |
29,168
|
4,092
|
| Due to related parties |
68,726
|
(9,285)
|
| Profit sharing payable |
168,741
|
(53,671)
|
| Other assets and other liabilities, net |
(8,082)
|
(7,786)
|
| Apollo Fund and VIE related: |
|
|
| Net realized and unrealized (gains) losses from investing activities and debt |
621
|
(11,517)
|
| Change in cash held at consolidated variable interest entities |
4,139
|
284,890
|
| Purchases of investments |
(396,810)
|
(388,616)
|
| Proceeds from sale of investments |
422,922
|
264,522
|
| Changes in other assets and other liabilities, net |
(17,483)
|
(148,449)
|
| Net Cash Provided by Operating Activities |
573,171
|
565,760
|
| Cash Flows from Investing Activities: |
|
|
| Purchases of fixed assets |
(4,921)
|
(5,015)
|
| Purchase of investments |
(44,530)
|
(25,000)
|
| Cash contributions to equity method investments |
(188,572)
|
(136,421)
|
| Cash distributions from equity method investments |
68,685
|
38,855
|
| Issuance of related party loans |
(3,906)
|
(25,016)
|
| Other investing activities |
919
|
2,182
|
| Net Cash Used in Investing Activities |
(172,325)
|
(150,415)
|
| Cash Flows from Financing Activities: |
|
|
| Principal repayments of debt |
(200,000)
|
0
|
| Issuance of debt |
532,706
|
0
|
| Satisfaction of tax receivable agreement |
0
|
(48,420)
|
| Purchase of Class A shares |
(13,003)
|
(3,050)
|
| Payments related to deliveries of Class A shares for RSUs |
(35,297)
|
(53,019)
|
| Distributions paid |
(172,095)
|
(275,850)
|
| Distributions paid to Non-Controlling Interests in Apollo Operating Group |
(194,371)
|
(377,663)
|
| Other financing activities |
(11,926)
|
(21,968)
|
| Apollo Fund and VIE related: |
|
|
| Distributions paid to Non-Controlling Interests in consolidated variable interest entities |
(4,133)
|
(6,794)
|
| Contributions from Non-Controlling Interests in consolidated variable interest entities |
12,897
|
5,524
|
| Net Cash Used in Financing Activities |
(85,222)
|
(781,240)
|
| Net Increase (Decrease) in Cash and Cash Equivalents |
315,624
|
(365,895)
|
| Cash and Cash Equivalents, Beginning of Period |
617,322
|
1,205,663
|
| Cash and Cash Equivalents, End of Period |
932,946
|
839,768
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Interest paid |
20,045
|
19,189
|
| Interest paid by consolidated variable interest entities |
13,911
|
15,007
|
| Income taxes paid |
5,806
|
6,354
|
| Supplemental Disclosure of Non-Cash Investing Activities: |
|
|
| Non-cash contributions to equity method investments |
1,231
|
35,074
|
| Non-cash distributions from equity method investments |
(4,496)
|
(5,909)
|
| Supplemental Disclosure of Non-Cash Financing Activities: |
|
|
| Declared and unpaid distributions |
0
|
(25,518)
|
| Capital increases related to equity-based compensation |
53,910
|
49,952
|
| Other non-cash financing activities |
364
|
1,832
|
| Adjustments related to exchange of Apollo Operating Group units: |
|
|
| Deferred tax assets |
1,807
|
60,648
|
| Due to related parties |
(1,519)
|
(44,534)
|
| Additional paid in capital |
(288)
|
(16,114)
|
| Non-Controlling Interest in Apollo Operating Group |
1,251
|
23,146
|
| Net Assets Deconsolidated from Consolidated Variable Interest Entities and Funds: |
|
|
| Cash and cash equivalents |
0
|
760,491
|
| Investments, at fair value |
0
|
16,930,227
|
| Other Assets |
0
|
280,428
|
| Debt, at fair value |
0
|
(13,229,570)
|
| Other liabilities |
0
|
(529,080)
|
| Non-Controlling interest in consolidated entities |
0
|
(3,134,518)
|
| Appropriated Partners' Capital |
$ 0
|
$ (929,708)
|