← Ares Management Corp
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | — | $438.9m | $1.2b | $1.1b | $1.1b | |
| Net Income (Loss) Attributable to Parent | $111.8m | $76.2m | $57.0m | $148.9m | $152.1m | $408.8m | $167.5m | $474.3m | $463.7m | $527.4m | |
| Net Income (Loss) Available to Common Stockholders, Basic | $98.4m | $50.9m | $28.4m | $127.2m | $130.4m | $386.7m | $167.5m | $474.3m | $441.0m | $426.1m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $286.9m | $172.9m | $152.1m | $372.8m | $324.5m | $918.3m | $438.9m | $885.8m | $815.0m | $834.5m | |
| Amortization of Intangible Assets | — | — | — | — | — | — | — | $126.0m | $116.3m | $193.4m | |
| Depreciation | $8.2m | $12.6m | $16.1m | $17.1m | $19.0m | $22.1m | $26.2m | $31.4m | $32.2m | $45.2m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $341.3m | $231.7m | $158.6m | $243.1m | |
| Deferred Income Tax Expense (Benefit) | ($19.8m) | ($7.6m) | $4.3m | $7.9m | $15.2m | $82.6m | $7.4m | $97.8m | $63.5m | $83.1m | |
| Share-based Payment Arrangement, Expense | $39.1m | $69.7m | $89.7m | $97.7m | $123.0m | $237.2m | $200.4m | $256.0m | — | $740.5m | |
| Goodwill, Impairment Loss | $0 | $0 | $0 | $0 | $0 | $0 | — | $0 | $0 | $0 | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | — | — | — | $181.6m | — | — | — | |
| Income (Loss) from Equity Method Investments | — | $66.8m | ($3.8m) | $57.4m | $22.5m | $114.9m | $21.7m | $86.7m | $52.4m | $319.3m | |
| Income Tax Expense (Benefit) | $11.0m | ($23.1m) | $32.2m | $52.4m | $55.0m | $147.4m | $71.9m | $173.0m | $164.6m | $198.5m | |
| Other Nonoperating Income (Expense) | — | — | — | — | — | $14.4m | $13.1m | — | — | — | |
| Additional Financial Items | |||||||||||
| Foreign Currency Transaction Gain (Loss), Realized | ($16.2m) | ($1.7m) | ($100k) | $8.5m | ($13.1m) | ($4.8m) | ($13.5m) | ($9.1m) | $600k | ($17.0m) | |
| Gain (Loss) on Investments | — | — | — | — | — | $19.1m | $4.7m | — | — | — | |
| Goodwill | $143.7m | $143.9m | $143.8m | $143.9m | $371.0m | $788.0m | $999.7m | $1.1b | $1.2b | $3.5b | |
| Nonoperating Income (Expense) | $115.1m | $239.1m | $96.2m | $122.5m | $65.9m | $263.7m | $204.4m | $499.0m | $329.3m | $394.2m | |
| Operating Expenses | $1.0b | $1.5b | $870.4m | $1.5b | $1.5b | $3.4b | $2.7b | $2.8b | $2.9b | $4.7b | |
| Beginning Cash Position | — | — | — | — | — | — | $343.7m | $390.0m | $348.3m | $1.5b | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $1.1b | $292.1m | ($1.4b) | ($2.4b) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($337.4m) | ($111.1m) | ($159.4m) | ($1.8b) | |
| Change In Account Payable | — | — | — | — | — | — | ($51.7m) | $27.9m | $148.4m | $92.0m | |
| Change In Other Current Assets | — | — | — | — | — | — | $371.2m | ($424.2m) | ($426.6m) | ($69.2m) | |
| Change In Other Current Liabilities | — | — | — | — | — | — | ($733.4m) | $219.0m | $47.0m | ($28.9m) | |
| Change In Other Working Capital | — | — | — | — | — | — | $239.8m | ($200.0m) | $216.4m | $317.2m | |
| Change In Payable | — | — | — | — | — | — | ($51.7m) | $27.9m | $148.4m | $92.0m | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | ($51.7m) | $27.9m | $148.4m | $92.0m | |
| Change In Receivables | — | — | — | — | — | — | ($20.6m) | ($48.9m) | ($188.2m) | ($37.8m) | |
| Change In Working Capital | — | — | — | — | — | — | ($194.6m) | ($426.2m) | ($203.0m) | $273.2m | |
| Changes In Account Receivables | — | — | — | — | — | ($745.0m) | ($20.6m) | — | — | — | |
| Changes In Cash | — | — | — | — | — | — | $56.6m | ($52.2m) | $1.2b | ($963.8m) | |
| End Cash Position | — | — | — | — | — | — | $390.0m | $348.3m | $1.5b | $488.9m | |
| Financing Cash Flow | — | — | — | — | — | — | $1.1b | $292.1m | ($1.4b) | ($2.4b) | |
| Free Cash Flow | — | — | — | — | — | — | ($769.9m) | ($300.4m) | $2.7b | $3.2b | |
| Investing Cash Flow | — | — | — | — | — | — | ($337.4m) | ($111.1m) | ($159.4m) | ($1.8b) | |
| Issuance Of Capital Stock | — | — | — | — | — | — | $0 | $0 | $1.9b | $0 | |
| Net Business Purchase And Sale | — | — | — | — | — | — | ($301.6m) | ($43.9m) | ($67.9m) | ($1.7b) | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($35.8m) | ($67.2m) | ($91.5m) | ($72.2m) | |
| Net Preferred Stock Issuance | — | — | — | — | — | — | $0 | $0 | $1.5b | $0 | |
| Operating Gains Losses | — | — | — | — | — | — | ($62.5m) | ($353.4m) | ($335.4m) | ($866.4m) | |
| Other Non Cash Items | — | — | — | — | — | — | ($1.5b) | ($1.1b) | $1.7b | $1.8b | |
| Preferred Stock Issuance | — | — | — | — | — | — | $0 | $0 | $1.5b | $0 | |
| Preferred Stock Payments | — | — | — | — | — | ($310.0m) | $0 | $0 | — | — | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | — | $21.2m | $86.0m | $1.5m | $0 | |
| Purchase Of Business | — | — | — | — | — | — | ($301.6m) | ($43.9m) | ($67.9m) | ($1.7b) | |
| Purchase Of PPE | — | — | — | — | — | — | ($35.8m) | ($67.2m) | ($91.5m) | ($72.2m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | ($310.0m) | $0 | $0 | — | — | |
| Stock Based Compensation | — | — | — | — | — | — | $200.4m | $256.0m | $352.9m | $740.5m | |
| Net Cash Provided by (Used in) Operating Activities | ($625.7m) | ($1.9b) | ($1.4b) | ($2.1b) | ($425.7m) | ($2.6b) | ($734.1m) | ($233.3m) | $2.8b | $3.3b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $11.9m | $33.2m | $18.4m | — | — | — | ($35.8m) | ($67.2m) | ($91.5m) | ($72.2m) | |
| Payments to Acquire Businesses, Net of Cash Acquired | $0 | $0 | — | — | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Investing Activities | ($11.9m) | ($33.2m) | ($18.4m) | ($16.8m) | ($136.8m) | ($1.1b) | ($337.4m) | ($111.1m) | ($159.4m) | ($1.8b) | |
| Cash flows from financing activities: | |||||||||||
| Issuance Of Debt | — | — | — | — | — | — | $3.0b | $3.3b | $2.3b | $4.4b | |
| Long Term Debt Issuance | — | — | — | — | — | — | $3.0b | $3.3b | $2.3b | $4.4b | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $1.8b | $1.7b | ($2.3b) | $293.1m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $1.8b | $1.7b | ($2.3b) | $293.1m | |
| Net Short Term Debt Issuance | — | — | — | — | — | $415.0m | $285.0m | $195.0m | — | — | |
| Short Term Debt Issuance | — | — | — | — | — | $883.0m | $1.4b | $1.4b | — | — | |
| Long Term Debt Payments | — | — | — | — | — | — | ($1.2b) | ($1.6b) | ($4.6b) | ($4.1b) | |
| Repayment Of Debt | — | — | — | — | — | — | ($1.2b) | ($1.6b) | ($4.6b) | ($4.1b) | |
| Short Term Debt Payments | — | — | — | — | — | ($468.0m) | ($1.1b) | ($1.2b) | — | — | |
| Common Stock Issuance | — | — | — | — | — | — | $0 | $0 | $407.1m | $0 | |
| Net Common Stock Issuance | — | — | — | — | — | — | $0 | $0 | $407.1m | $0 | |
| Cash Dividends Paid | — | — | — | — | — | — | ($836.4m) | ($1.0b) | ($1.3b) | ($1.8b) | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($836.4m) | ($1.0b) | ($1.3b) | ($1.8b) | |
| Preferred Stock Dividend Paid | — | — | — | — | — | ($10.8m) | $0 | $0 | — | — | |
| Net Other Financing Charges | — | — | — | — | — | — | $173.8m | ($445.6m) | $289.9m | ($963.6m) | |
| Net Cash Provided by (Used in) Financing Activities | $880.8m | $1.7b | $1.4b | $2.1b | $943.9m | $3.5b | $1.1b | $292.1m | ($1.4b) | ($2.4b) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $5.6m | $20.0m | ($19.1m) | ($10.2m) | $10.5m | ($40.5m) | ($55.2m) | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | — | ($10.2m) | $10.5m | ($40.5m) | ($55.2m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $28.1m | $401.4m | ($196.2m) | $46.3m | ($41.7m) | $1.2b | ($1.0b) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $138.4m | $539.8m | $343.7m | $390.0m | $348.3m | $1.5b | $488.9m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $46.3m | ($41.7m) | $1.2b | ($1.0b) | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | — | $257.1m | $205.1m | $320.3m | $722.6m | $866.8m | $675.8m | |
| Income Taxes Paid, Net | — | — | — | — | — | — | $104.9m | $62.0m | $107.6m | $91.3m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.