v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues    
Revenues $ 990 $ 954
Realized 16 0
Unrealized 96 2
Total investment income 112 2
Interest and dividend revenue 21 13
Interest and dividend revenue of consolidated funds 8 7
Other revenues 207 105
Total revenues 1,338 1,081
Expenses    
Compensation and benefits (355) (259)
Other operating expenses (98) (78)
General, administrative and other (22) (6)
Total compensation, operating, and general and administrative expenses (475) (343)
Carried interest allocation compensation    
Realized (22) (33)
Unrealized (189) (113)
Total carried interest allocation compensation (211) (146)
Interest expense (37) (3)
Interest expense of consolidated funds (10) (10)
Total expenses (733) (502)
Other income (expenses), net 10 (69)
Share of income from equity method investments 70 58
Other income, net of consolidated funds 11 14
Income before provision for taxes 696 582
Income tax expense (110) (75)
Net income 586 507
Preferred shares redeemable non-controlling interest 89 127
Redeemable non-controlling interest in consolidated funds 6 0
Net income attributable to non-controlling interest (69) (48)
Non-controlling interests in consolidated funds 5 (5)
Net income attributable to the common stockholders $ 617 $ 581
Class A Shares    
Carried interest allocation compensation    
Earnings per share - basic (in dollars per share) $ 0.38 $ 0.36
Earnings per share - diluted (in dollars per share) $ 0.38 $ 0.36
Weighted average of common stock outstanding - basic (in shares) 1,606.5 1,613.5
Weighted average of common stock outstanding - diluted (in shares) 1,619.3 1,629.8
Management Service    
Revenues    
Revenues $ 860 $ 837
Incentive fees    
Revenues    
Revenues $ 130 $ 117