EARNINGS PER UNIT

12 Months Ended

Dec. 31, 2013

Earnings Per Unit [Abstract]

EARNINGS PER UNIT

EARNINGS PER UNIT

The computations of net income (loss) per Class A unit are set forth below:

	Year Ended December 31,
	2013		2012		2011
Weighted average units outstanding:	(in thousands, except per unit amounts)
Class A units outstanding	34,979		28,170		22,677
OCGH units exchangeable into Class A units (1)	—		—		—
Total weighted average units outstanding	34,979		28,170		22,677
Net income (loss) per Class A unit:
Net income (loss)	$	221,998	$	107,810	$	(95,972	)
Weighted average units outstanding	34,979		28,170		22,677
Basic and diluted net income (loss) per Class A unit	$	6.35	$	3.83	$	(4.23	)

(1) Vested OCGH units are potentially exchangeable on a one-for-one basis into Class A units. As of December 31, 2013, there were 112,584,211 OCGH units outstanding, accordingly, the Company may cumulatively issue up to 112,584,211 additional Class A units through March 1, 2023 if all such units were exchanged. For all periods presented, OCGH units have been excluded from the calculation of diluted earnings per unit because the exchange of these units would proportionally increase Oaktree Capital Group, LLC’s interest in the Oaktree Operating Group and could have an anti-dilutive effect on earnings per unit to the extent that tax-related or other expenses were to be incurred by the Company as a result of the exchange.