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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of maximum exposure to loss, before allocations to the carry pool for VIEs in which the entity is not determined to be the primary beneficiary

 

 

 

 

June 30,
2013

 

December 31,
2012

 

Investments

 

$

199,081

 

$

188,408

 

Due from Affiliates, net

 

18,178

 

2,266

 

Maximum Exposure to Loss

 

$

217,259

 

$

190,674

 

Schedule of calculation of noncontrolling interests held by KKR Holdings

 

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at the beginning of the period

 

$

4,950,914

 

$

4,560,614

 

$

4,981,864

 

$

4,342,157

 

Net income (loss) attributable to noncontrolling interests held by KKR Holdings (a)

 

28,106

 

292,833

 

362,218

 

697,024

 

Other comprehensive income (loss) (b)

 

(3,430

)

(6,863

)

(4,750

)

(4,193

)

Impact of the exchange of KKR Holdings units to KKR & Co. L.P. units (c) 

 

(152,628

)

(60,687

)

(243,643

)

(106,916

)

Equity based compensation

 

54,382

 

79,489

 

108,614

 

177,566

 

Capital contributions

 

328

 

507

 

799

 

1,221

 

Capital distributions

 

(178,558

)

(70,196

)

(505,988

)

(311,162

)

Balance at the end of the period

 

$

4,699,114

 

$

4,795,697

 

$

4,699,114

 

$

4,795,697

 

 

(a)       Refer to the table below for calculation of Net income (loss) attributable to noncontrolling interests held by KKR Holdings.

 

(b)       Calculated on a pro rata basis based on the weighted average KKR Group Partnership Units held by KKR Holdings during the reporting period.

 

(c)        Calculated based on the proportion of KKR Holdings units exchanged for KKR & Co. L.P. common units pursuant to the exchange agreement during the reporting period. The exchange agreement provides for the exchange of KKR Group Partnership Units held by KKR Holdings for KKR & Co. L.P. common units.

Schedule of net income (loss) attributable to noncontrolling interests held by KKR Holdings

 

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

Net income (loss)

 

$

277,258

 

$

1,505,143

 

$

2,375,444

 

$

4,477,118

 

Less: Net income (loss) attributable to Redeemable Noncontrolling Interests

 

(7,800

)

3,285

 

16,823

 

8,557

 

Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities

 

241,818

 

1,062,764

 

1,787,830

 

3,434,840

 

Plus: Income taxes attributable to KKR Management Holdings Corp.

 

3,215

 

7,773

 

9,874

 

21,117

 

Net income (loss) attributable to KKR & Co. L.P. and KKR Holdings

 

$

46,455

 

$

446,867

 

$

580,665

 

$

1,054,838

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to noncontrolling interests held by KKR Holdings

 

$

28,106

 

$

292,833

 

$

362,218

 

$

697,024

 

Schedule of fees

 

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

Transaction Fees

 

$

58,295

 

$

43,460

 

$

96,720

 

$

87,122

 

Monitoring & Consulting Fees

 

49,067

 

44,277

 

102,028

 

87,047

 

Management Fees

 

43,591

 

20,566

 

84,615

 

40,771

 

Incentive Fees

 

15,423

 

4,057

 

34,253

 

13,727

 

Total Fees

 

$

166,376

 

$

112,360

 

$

317,616

 

$

228,667