XML 68 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities    
Net income $ 427.5 $ 1,494.1
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 43.5 24.2
Amortization of deferred financing fees 0.4 0.4
Equity-based compensation 52.3  
Non-cash performance fees (475.0) (478.1)
Other non-cash amounts 2.6 (4.1)
Consolidated Funds related:    
Realized/unrealized (gain) loss on investments of Consolidated Funds (586.5) (1,019.4)
Realized/unrealized loss from loans payable of Consolidated Funds 387.0 158.6
Purchases of investments by Consolidated Funds (2,934.1) (1,586.4)
Proceeds from sale and settlements of investments by Consolidated Funds 3,181.4 2,000.5
Non-cash interest income, net (21.4) (16.5)
Change in cash and cash equivalents held at Consolidated Funds 679.5 (226.1)
Change in other receivables held at Consolidated Funds 26.9 25.6
Change in other liabilities held at Consolidated Funds 321.6 43.1
Investment income 16.2 (19.6)
Purchases of investments (54.4) (10.0)
Proceeds from the sale of investments 108.8 145.7
Purchases of trading securities (6.2) (5.0)
Changes in deferred taxes 11.2 7.6
Change in due from affiliates and other receivables (3.6) (11.9)
Change in deposits and other 2.1 (8.7)
Change in accounts payable, accrued expenses and other liabilities (3.8) (22.4)
Change in accrued compensation and benefits 152.0 (95.8)
Change in due to affiliates (2.1) (27.5)
Change in deferred revenue 128.9 111.6
Net cash provided by operating activities 1,454.8 479.9
Cash flows from investing activities    
Change in restricted cash (9.3)  
Purchases of fixed assets, net (5.4) (5.1)
Purchases of intangible assets   (43.1)
Net cash used in investing activities (14.7) (48.2)
Cash flows from financing activities    
Borrowings under credit facility   313.1
Repayments under credit facility (386.3) (55.9)
Issuance of 3.875% senior notes due 2023, net of financing costs 495.3  
Issuance of 5.625% senior notes due 2043, net of financing costs 394.1  
Payments on loans payable (475.0) (270.0)
Net payment on loans payable of Consolidated Funds (769.3) (182.9)
Payments of contingent consideration (10.0)  
Distributions to common unitholders (36.8)  
Contributions from predecessor owners   1.1
Distributions to predecessor owners   (199.1)
Contributions from non-controlling interest holders 477.2 631.4
Distributions to non-controlling interest holders (1,205.0) (800.8)
Change in due to/from affiliates financing activities 38.5 31.2
Change in due to/from affiliates and other receivables of Consolidated Funds 52.7 107.1
Net cash used in financing activities (1,424.6) (424.8)
Effect of foreign exchange rate changes (12.2) 6.7
Increase in cash and cash equivalents 3.3 13.6
Cash and cash equivalents, beginning of period 567.1 509.6
Cash and cash equivalents, end of period 570.4 523.2
Supplemental non-cash disclosures    
Net assets related to consolidation of the CLOs   357.3
Non-cash distributions to predecessor owners   296.6
Non-cash contributions from non-controlling interest holders   73.0
Non-cash distributions to non-controlling interest holders   12.9
Reorganization:    
Transfer of partners' capital to non-controlling interests in consolidated entities   $ 127.7