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DEBT OBLIGATIONS (Tables)
3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of borrowings
KKR's Asset Management debt obligations consisted of the following:
 March 31, 2022 December 31, 2021
Financing AvailableBorrowing OutstandingFair Value Financing AvailableBorrowing OutstandingFair Value
Revolving Credit Facilities:
Corporate Credit Agreement$1,000,000 $— $—  $1,000,000 $— $— 
KCM Credit Agreement728,493 — — 728,799 — — 
KCM 364-Day Revolving Credit Agreement750,000 — — 750,000 — — 
Notes Issued: (1)
KKR ¥25 billion (or $205.0 million)
0.509% Notes Due 2023
(4)
— 204,706 204,479 — 216,881 216,818 
KKR ¥5 billion (or $41.0 million)
0.764% Notes Due 2025
(4)
— 40,661 40,881 — 43,082 43,452 
KKR €650 million (or $723.8 million)
1.625% Notes Due 2029
(5)
— 717,092 703,183 — 729,048 776,926 
KKR $750 million 3.750% Notes Due 2029
(4)
— 743,555 766,035 — 743,333 825,540 
KKR ¥10.3 billion (or $84.5 million)
1.595% Notes Due 2038
(4)
— 83,473 83,191 — 88,505 92,198 
KKR $500 million 5.500% Notes Due 2043 (6)
(4)
— 491,451 567,543 — 491,153 661,351 
KKR $1 billion 5.125% Notes Due 2044 (6)
(4)
— 956,647 1,074,160 — 951,462 1,237,888 
KKR $500 million 3.625% Notes Due 2050
(4)
— 492,553 447,275 — 492,486 535,550 
KKR $750 million 3.500% Notes Due 2050 (6)
(4)
— 736,056 658,983 — 735,905 784,650 
KKR $750 million 3.250% Notes Due 2051
(4)
— 739,569 629,693 — 739,481 747,900 
KKR $500 million 4.625% Notes Due 2061
(5)
— 486,133 439,000 — 486,044 523,200 
KFN $500 million 5.500% Notes Due 2032
(2)
— 495,147 466,871 — 495,025 487,779 
KFN $120 million 5.200% Notes Due 2033
(2)
— 118,683 108,766 — 118,654 115,535 
KFN $70 million 5.400% Notes Due 2033
(2)
— 68,980 64,437 — 68,957 68,532 
KFN Issued Junior Subordinated Notes (3)
(2)
— 236,467 186,989 — 236,138 178,335 
2,478,493 6,611,173 6,441,486 2,478,799 6,636,154 7,295,654 
Other Debt Obligations(6)
5,685,293 29,501,699 29,501,699 4,941,755 30,033,601 30,033,601 
 $8,163,786 $36,112,872 $35,943,185  $7,420,554 $36,669,755 $37,329,255 

(1)Borrowing outstanding includes: (i) unamortized note discount (net of premium), as applicable and (ii) unamortized debt issuance costs, as applicable. Financing costs related to the issuance of the notes have been deducted from the note liability and are being amortized over the life of the notes.
(2)These debt obligations are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR's Level III credit investments.
(3)KKR consolidates KFN and reports KFN's outstanding $258.5 million aggregate principal amount of junior subordinated notes. The weighted average interest rate is 2.6% and 2.6% and the weighted average years to maturity is 14.5 years and 14.8 years as of March 31, 2022 and December 31, 2021, respectively.
(4)The notes are classified as Level II within the fair value hierarchy and fair value is determined by third party broker quotes.
(5)The notes are classified as Level I within the fair value hierarchy and fair value is determined by quoted prices in active markets since the debt is publicly listed.
(6)As of March 31, 2022 and December 31, 2021, the borrowing outstanding reflects the elimination for the portion of these debt obligations that are held by Global Atlantic.
Global Atlantic's debt obligations consisted of the following:
 March 31, 2022 December 31, 2021
Financing AvailableBorrowing Outstanding
Fair Value(2)
 Financing AvailableBorrowing Outstanding
Fair Value(2)
Revolving Credit Facilities:
Global Atlantic revolving credit facility, due August 2026$800,000 $200,000 $200,000  $1,000,000 $— $— 
Notes Issued and Others:
Global Atlantic senior notes, due October 2029500,000 500,100 500,000 539,350 
Global Atlantic senior notes, due June 2031650,000 582,660 650,000 644,800 
Global Atlantic subordinated debentures, due October 2051750,000 710,625 750,000 761,475 
2,100,000 $1,993,385 1,900,000 $1,945,625 
Purchase accounting adjustments(1)
45,618 51,050 
Debt issuance costs, net of accumulated amortization(18,413)(18,675)
Fair value loss (gain) of hedged debt obligations, recognized in earnings(97,436)(24,369)
 $2,029,769  $1,908,006 
(1)The amortization of the purchase accounting adjustments was $5.4 million and $2.0 million for the three months ended March 31, 2022 and 2021, respectively.
(2)These debt obligations are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR's Level III credit investments.
Schedule of other debt obligations
As of March 31, 2022, other debt obligations consisted of the following:      
Financing AvailableBorrowing
Outstanding
Fair ValueWeighted
Average
Interest Rate
Weighted Average Remaining Maturity in Years
Financing Facilities of Consolidated Funds and Other (1)
$5,685,293 $8,288,493 $8,288,493 3.5%4.4
Debt Obligations of Consolidated CLOs — 21,213,206 21,213,206 
(2)
10.5
 $5,685,293 $29,501,699 $29,501,699   

(1)Includes borrowings collateralized by fund investments, fund co-investments and other assets held by levered investment vehicles of $2.0 billion.
(2)The senior notes of the consolidated CLOs had a weighted average interest rate of 1.9%. The subordinated notes of the consolidated CLOs do not have contractual interest rates but instead receive a pro rata amount of the net distributions from the excess cash flows of the respective CLO vehicle. Accordingly, weighted average borrowing rates for the subordinated notes are based on cash distributions during the period, if any.