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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Total revenues $ 313,483 $ 213,283 $ 579,898 $ 550,604
Expenses:        
Compensation and benefits (109,115) (105,073) (223,638) (213,827)
Equity-based compensation (22,648) (15,246) (36,977) (29,867)
Incentive income compensation (73,122) (15,218) (125,422) (100,033)
Total compensation and benefits expense (204,885) (135,537) (386,037) (343,727)
General and administrative (50,138) (39,444) (97,741) (72,408)
Depreciation and amortization (6,566) (6,551) (13,130) (12,953)
Consolidated fund expenses (4,299) (3,074) (6,454) (6,554)
Total expenses (265,888) (184,606) (503,362) (435,642)
Other income (loss):        
Interest expense (43,995) (35,469) (89,760) (76,048)
Interest and dividend income 84,648 67,980 176,900 130,599
Net realized gain (loss) on consolidated funds’ investments 447 (17,296) (5,372) (2,697)
Net change in unrealized appreciation (depreciation) on consolidated funds’ investments 1,814 (31,105) 58,931 (45,491)
Investment income 32,835 56,923 94,985 91,486
Other income, net 36 914 58 1,611
Total other income 75,785 41,947 235,742 99,460
Income before income taxes 123,380 70,624 312,278 214,422
Income taxes (1,852) (4,867) (6,350) (11,264)
Net income 121,528 65,757 305,928 203,158
Less:        
Net income attributable to Oaktree Capital Group, LLC 49,273 31,121 103,356 83,853
Net income attributable to preferred unitholders (6,829) 0 (13,658) 0
Net income attributable to OCG Class A unitholders $ 42,444 $ 31,121 $ 89,698 $ 83,853
Distributions declared per Class A unit (in dollars per share) $ 1.05 $ 0.96 $ 1.80 $ 1.72
Net income per Class A unit (basic and diluted):        
Net income per Class A unit (in dollars per share) $ 0.57 $ 0.44 $ 1.23 $ 1.21
Weighted average number of Class A units outstanding (in shares) 74,340,000 71,177,000 72,994,000 69,556,000
Net income attributable to non-controlling interests in consolidated subsidiaries        
Less:        
Net income (loss) attributable to non-controlling interests $ (50,015) $ (41,996) $ (116,130) $ (115,940)
Net (income) loss attributable to non-controlling interests in consolidated funds        
Less:        
Net income (loss) attributable to non-controlling interests (22,240) 7,360 (86,442) (3,365)
Management fees        
Revenues:        
Total revenues 175,103 178,096 345,037 363,511
Incentive income        
Revenues:        
Total revenues $ 138,380 $ 35,187 $ 234,861 $ 187,093