UNITHOLDERS' CAPITAL
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Jun. 30, 2014
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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 determined at the Oaktree Operating Group level based on the 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. As of June 30, 2014 and December 31, 2013, respectively, OCGH units represented 109,197,407 of the total 152,677,077 Oaktree Operating Group units and 112,584,211 of the total 151,056,717 Oaktree Operating Group units. Based on total Oaktree Operating Group capital of $1,650,713 and $1,655,911 as of June 30, 2014 and December 31, 2013, respectively, the OCGH non-controlling interest was $1,180,620 and $1,234,169. The following table sets forth a summary of the net income attributable to the OCGH non-controlling interest and to the Class A unitholders:
Set forth below are the effects of changes in the Company’s ownership interest in the Oaktree Operating Group:
On March 10, 2014, the Company issued and sold 5,000,000 Class A units to the underwriter in a public offering (the “March 2014 Offering”), resulting in $296.7 million in proceeds to the Company. The Company did not retain any proceeds from the sale of Class A units in the March 2014 Offering. The proceeds from the March 2014 Offering were used to acquire interests in the Company’s business from certain of the Company’s directors, employees and other investors, including certain Principals and other members of the Company’s senior management. Please see notes 9, 10 and 11 for additional information regarding transactions that impacted unitholders’ capital. |