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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues                
Total revenues $ 602,758       $ 384,822   $ 616,167 $ 862,019
Expenses                
Total expenses 483,567       335,701   565,526 704,808
Other income (expense)                
Total other income (expense) 121,906       35,262   (105,957) 63,132
Income (loss) before taxes 241,097       84,383   (55,316) 220,343
Income tax expense 24,421       9,505   3,805 23,889
Net income (loss) 216,676 $ (275,797) $ 84,475 $ 91,875 74,878 $ 121,576 (59,121) 196,454
Net income attributable to Ares Management Corporation 56,371       32,139   25,335 77,088
Less: Series A Preferred Stock dividends paid 5,425       5,425   10,850 10,850
Net income attributable to Ares Management Corporation Class A common stockholders $ 50,946       $ 26,714   $ 14,485 $ 66,238
Weighted-average shares of Class A common stock:                
Basic (in shares)               104,054,035
Class A common stock                
Net income per share of Class A common stock:                
Basic (in dollars per share) $ 0.36       $ 0.24   $ 0.08 $ 0.60
Diluted (in dollars per share) $ 0.35       $ 0.23   $ 0.08 $ 0.58
Weighted-average shares of Class A common stock:                
Basic (in shares) 133,639,194       105,188,966   126,002,867 104,054,035
Diluted (in shares) 146,904,357       116,603,887   126,002,867 113,657,864
Consolidated Funds                
Expenses                
Expenses of Consolidated Funds $ 3,244       $ 15,427   $ 10,687 $ 19,981
Other income (expense)                
Net realized and unrealized gains (losses) on investments 83,522       (116)   (171,239) 4,248
Interest expense (76,297)       (68,005)   (156,538) (132,917)
Interest and other income of Consolidated Funds 116,314       102,206   229,539 195,390
Net income attributable to non-controlling interests 85,186       8,346   (81,220) 25,970
AOG                
Other income (expense)                
Net income attributable to non-controlling interests 75,119       34,393   (3,236) 93,396
Ares Management L.P                
Revenues                
Total revenues 602,758       384,822   616,167 862,019
Expenses                
Compensation and benefits 185,131       162,170   365,215 319,016
Performance related compensation 237,108       92,688   69,209 249,208
General, administrative and other expenses 58,084       65,416   120,415 116,603
Other income (expense)                
Net realized and unrealized gains (losses) on investments 290       521   (7,744) 3,997
Interest and dividend income 1,978       1,652   3,768 3,496
Interest expense (6,082)       (5,793)   (11,388) (11,382)
Other income, net 2,181       4,797   7,645 300
Management fees | Ares Management L.P                
Revenues                
Total revenues 266,867       237,846   530,716 462,505
Carried interest allocation                
Revenues                
Total revenues             72,402  
Carried interest allocation | Ares Management L.P                
Revenues                
Total revenues 303,278       119,712   72,402 317,005
Incentive fees | Ares Management L.P                
Revenues                
Total revenues 331       10,220   (2,918) 27,035
Principal investment income (loss) | Ares Management L.P                
Revenues                
Total revenues 23,645       5,844   (3,078) 34,603
Administrative, transaction and other fees                
Revenues                
Total revenues 0       0   0  
Administrative, transaction and other fees | Ares Management L.P                
Revenues                
Total revenues $ 8,637       $ 11,200   $ 19,045 $ 20,871