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EQUITY BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of expense associated with equity based compensation
The following table summarizes the expense associated with equity-based compensation for the years ended December 31, 2018, 2017 and 2016, respectively.
 
 
For the Years Ended December 31,
 
2018
 
2017
 
2016
Equity Incentive Plan
$
242,811

 
$
204,308

 
$
186,227

KKR Holdings Principal Awards
104,625

 
143,204

 
44,837

Other Exchangeable Securities

 

 
12,091

Total (1)
$
347,436

 
$
347,512

 
$
243,155


(1)
Includes $11,735 and $11,214 of equity based charges for the years ended December 31, 2018 and 2017 related to employees of equity method investees. Such amounts are included in Net Gains (Losses) from Investment Activities in the consolidated statements of operations.
Summary of information regarding the discount for the lack of participation rights in the expected dividends for shares granted
The following table presents information regarding the discount for the lack of participation rights in the expected dividends for shares granted subsequent to December 31, 2015.

Date of Grant
 
Discount
per share (1)
January 1, 2016 to December 31, 2016
 
$
0.64

January 1, 2017 to December 31, 2017
 
$
0.68

January 1, 2018 to June 30, 2018
 
$
0.68

July 1, 2018 to Present
 
$
0.50

(1)
Represents the annual discount for the lack of participation rights on expected dividends. The total discount on any given tranche of unvested shares is calculated as the discount per share multiplied by the number of years in the applicable vesting period.
Summary of significant assumptions used to estimate grant date fair value of Market Condition Awards
Below is a summary of the significant assumptions used to estimate the grant date fair value of the Market Condition Awards:

Closing KKR share price as of valuation date
 
$19.90
Risk Free Rate
 
2.02
%
Volatility
 
25.00
%
Dividend Yield
 
3.42
%
Expected Cost of Equity
 
11.02
%
Schedule of unrecognized expense of equity incentive plan awards expected to be recognized
As of December 31, 2018, there was approximately $400.0 million of total estimated unrecognized expense related to unvested awards, including Market Condition Awards. That cost is expected to be recognized as follows:
Year
 
Unrecognized Expense 
(in millions)
2019
 
$
191.9

2020
 
133.7

2021
 
57.7

2022
 
15.8

2023
 
0.9

Total
 
$
400.0

Schedule of unvested awards granted under equity incentive plan
A summary of the status of unvested awards granted under the Equity Incentive Plan, excluding Market Condition Awards as described above, from January 1, 2018 through December 31, 2018 is presented below:
 
Shares
 
Weighted
Average Grant
Date Fair Value
Balance, January 1, 2018
46,422,733

 
$
14.98

Granted
5,489,046

 
22.42

Vested
(16,101,190
)
 
15.02

Forfeitures
(2,410,406
)
 
14.37

Balance, December 31, 2018
33,400,183

 
$
16.23

Schedule of remaining vesting tranches of awards granted under the equity incentive plan
A summary of the remaining vesting tranches of awards granted under the Equity Incentive Plan is presented below:
Vesting Date
 
Shares
April 1, 2019
 
9,134,599

October 1, 2019
 
4,811,012

April 1, 2020
 
7,294,238

October 1, 2020
 
3,633,747

April 1, 2021
 
4,178,268

October 1, 2021
 
2,131,927

April 1, 2022
 
923,830

October 1, 2022
 
1,201,390

October 1, 2023
 
91,172

 
 
33,400,183

Schedule of unrecognized expense of unvested KKR Holdings awards expected to be recognized
As of December 31, 2018, there was approximately $257.2 million of estimated unrecognized expense related to unvested KKR Holdings awards. That cost is expected to be recognized as follows:
Year
 
Unrecognized Expense 
(in millions)
2019
 
$
96.2

2020
 
88.1

2021
 
47.5

2022
 
25.4

Total
 
$
257.2

Schedule of unvested holding awards granted
A summary of the status of unvested awards granted under the KKR Holdings Plan from January 1, 2018 through December 31, 2018 is presented below:
 
Units
 
Weighted
Average Grant
Date Fair Value
Balance, January 1, 2018
30,848,583

 
$
14.42

Granted
450,000

 
20.90

Vested
(6,494,590
)
 
15.15

Forfeitures
(680,000
)
 
11.99

Balance, December 31, 2018
24,123,993

 
$
14.42

Schedule of remaining vesting tranches of holding awards granted
A summary of the remaining vesting tranches of awards granted under the KKR Holdings Plan is presented below:
Vesting Date
 
Units
April 1, 2019
 
229,514

May 1, 2019
 
3,680,000

October 1, 2019
 
2,455,000

April 1, 2020
 
124,479

May 1, 2020
 
3,680,000

October 1, 2020
 
2,940,000

May 1, 2021
 
3,680,000

October 1, 2021
 
3,425,000

October 1, 2022
 
3,910,000

 
 
24,123,993