UNITHOLDERS' CAPITAL

3 Months Ended

Mar. 31, 2013

Stockholders' Equity Note [Abstract]

UNITHOLDERS' CAPITAL

UNITHOLDERS’ CAPITAL

The OCGH unitholders’ economic interest in the Oaktree Operating Group is reflected as OCGH non-controlling interest in consolidated subsidiaries and is based on the proportionate share of Oaktree Operating Group units held by the OCGH unitholders. As of March 31, 2013 and December 31, 2012, respectively, OCGH units represented 120,763,876 of the total 150,953,317 Oaktree Operating Group units and 120,267,503 units of the total 150,448,436 Oaktree Operating Group units. Based on total Oaktree Operating Group capital of $1,499,667 and $1,360,331 as of March 31, 2013 and December 31, 2012, respectively, the OCGH non-controlling interest was $1,199,745 and $1,087,491.

The net income attributable to OCGH non-controlling interest in consolidated subsidiaries is determined at the Oaktree Operating Group level, based on the weighted average proportionate share of Oaktree Operating Group units held by the OCGH unitholders. Certain expenses, such as income tax and related administrative expenses of Oaktree Capital Group, LLC and its Intermediate Holding Companies, are solely attributable to the Class A unitholders.

The following table sets forth a summary of the net income attributable to the OCGH non-controlling interest and to the Class A unitholders:

	Three Months Ended March 31,
	2013			2012
Weighted average Oaktree Operating Group units outstanding (in thousands):
OCGH non-controlling interest	120,628			127,753
Class A unitholders	30,186			22,688
Total weighted average units outstanding	150,814			150,441
Oaktree Operating Group net income:
Net income attributable to OCGH non-controlling interest	$	262,017		$	134,890
Net income attributable to Class A unitholders	65,569			23,955
Oaktree Operating Group net income	$	327,586		$	158,845
Net income attributable to Oaktree Capital Group, LLC:
Oaktree Operating Group net income attributable to Class A unitholders	$	65,569		$	23,955
Non-Operating Group expenses	(210		)	(178		)
Income tax expense of Intermediate Holding Companies	(7,793		)	(5,169		)
Net income attributable to Oaktree Capital Group, LLC	$	57,566		$	18,608

Set forth below are the effects of changes in the Company’s ownership interest in the Oaktree Operating Group on the Company’s capital:

	Three Months Ended March 31,
	2013			2012
Net income attributable to Oaktree Capital Group, LLC	$	57,566		$	18,608
Equity reallocation between controlling and non-controlling interests	(887		)	(2,472		)
Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interest	$	56,679		$	16,136

Please see notes 9 and 10 for additional information regarding transactions that impacted unitholders' capital.