OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2019

OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES

Other Assets consist of the following:



	December 31, 2019		December 31, 2018
Unsettled Investment Sales ⁽¹⁾	$	86,033	$	101,789
Receivables	26,893		27,258
Due from Broker ⁽²⁾	65,154		396,512
Oil & Gas Assets, net ⁽³⁾	215,243		225,256
Deferred Tax Assets, net	158,574		538,161
Interest Receivable	156,026		241,547
Fixed Assets, net ⁽⁴⁾	633,025		451,206
Foreign Exchange Contracts and Options ⁽⁵⁾	188,572		177,264
Goodwill ⁽⁶⁾	83,500		83,500
Derivative Assets	23,139		40,995
Prepaid Taxes	84,462		69,165
Prepaid Expenses	14,596		23,551
Operating Lease Right of Use Assets ⁽⁷⁾	121,101		—
Deferred Financing Costs	12,374		13,871
Other	139,544		146,617
Total	$	2,008,236	$	2,536,692


(1)	Represents amounts due from third parties for investments sold for which cash settlement has not occurred.


(2)	Represents amounts held at clearing brokers resulting from securities transactions.

(3)

Includes proved and unproved oil and natural gas properties under the successful efforts method of accounting, which is net of impairment write-downs, accumulated depreciation, depletion and amortization. Depreciation, depletion and amortization of $31.4 million, $22.3 million and $24.7 million for the years ended December 31, 2019, 2018, and 2017, respectively, are included in General, Administrative and Other in the accompanying consolidated statements of operations.


(4)	Net of accumulated depreciation and amortization of $132.7 million and $113.5 million as of December 31, 2019 and 2018, respectively. Depreciation and amortization expense of $17.7 million, $15.0 million and $15.3 million for the years ended December 31, 2019, 2018, and 2017, respectively, are included in General, Administrative and Other in the accompanying consolidated statements of operations.

(5)

Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign currency denominated investments. Such instruments are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. See Note 3 "Net Gains (Losses) from Investment Activities" for the net changes in fair value associated with these instruments.


(6)	As of December 31, 2019, the carrying value of goodwill is recorded and assessed for impairment at the reporting unit.

(7)

KKR’s non-cancelable operating leases consist of leases for office space in North America, Europe, Asia and Australia. KKR is the lessee under the terms of the operating leases. For the year ended December 31, 2019, the operating lease cost was $48.0 million.

Schedule of accounts payable, accrued expenses and other liabilities

Accounts Payable, Accrued Expenses and Other Liabilities consist of the following:



	December 31, 2019		December 31, 2018
Amounts Payable to Carry Pool ⁽¹⁾	$	1,448,879	$	922,977
Unsettled Investment Purchases ⁽²⁾	481,337		541,165
Securities Sold Short ⁽³⁾	251,223		344,124
Derivative Liabilities	34,174		35,640
Accrued Compensation and Benefits	131,719		107,887
Interest Payable	234,165		212,969
Foreign Exchange Contracts and Options ⁽⁴⁾	39,364		60,749
Accounts Payable and Accrued Expenses	118,454		130,554
Taxes Payable	32,682		24,453
Uncertain Tax Positions	65,716		66,775
Unfunded Revolver Commitments	75,842		52,066
Operating Lease Liabilities ⁽⁵⁾	125,086		—
Other Liabilities	58,922		244,631
Total	$	3,097,563	$	2,743,990


(1)	Represents the amount of carried interest payable to principals, professionals and other individuals with respect to KKR's active funds and co-investment vehicles that provide for carried interest.


(2)	Represents amounts owed to third parties for investment purchases for which cash settlement has not occurred.

(3)

Represents the obligations of KKR to deliver a specified security at a future point in time. Such securities are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. See Note 3 "Net Gains (Losses) from Investment Activities" for the net changes in fair value associated with these instruments.

(4)

(5)

KKR’s operating leases have remaining lease terms that range from approximately one year to 14 years, some of which include options to extend the leases for up to three years. As of December 31, 2019, the weighted average remaining lease term and weighted average discount rate were 4.46 years and 2.53%, respectively.