v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Class A Shares
Class B Shares
Total common equity
Common stock
Common stock
Class A Shares
Common stock
Class B Shares
Common stock held in treasury
Additional paid-in capital
Retained deficit
Accumulated other comprehensive income
Non-controlling interest in consolidated entities
Non-controlling interest in consolidated funds
Beginning balance (in shares) at Dec. 31, 2024           1,614,238,281 21,280            
Beginning balance at Dec. 31, 2024 $ 9,088     $ 8,752 $ 9,017     $ (91) $ 152 $ (488) $ 162 $ 336 $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income 634     581           581   48 5
Other comprehensive income (loss) 14     14             14    
Share subscriptions (in shares)           160,613              
Share subscriptions 3     3 3                
Acquisition of treasury shares, net (in shares)           (1,858,594)              
Acquisition of treasury shares, net (122)     (122)       (122)          
Contributions 54     (1)         2 (3)   53 2
2025 Arrangement 0     31 (120)     7 144     (31)  
Distributions (708)     (707)           (707)   (1)  
Ending balance (in shares) at Mar. 31, 2025           1,612,540,300 21,280            
Ending balance at Mar. 31, 2025 8,963     8,489 9,140     (220) 10 (617) 176 467 7
Beginning balance (in shares) at Dec. 31, 2025   1,608,492,642 21,280     1,608,492,642 21,280            
Beginning balance at Dec. 31, 2025 8,912     8,118 9,153     (526) 154 (851) 188 773 21
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income 681     617           617   69 (5)
Other comprehensive income (loss) (8)     (8)             (8)    
Share subscriptions (in shares)           264,529              
Share subscriptions 0     0 4       (1) (3)      
Acquisition of treasury shares, net (in shares)           (7,708,909)              
Acquisition of treasury shares, net (390)     (390)       (390)          
Contributions 206     65         65     41 100
2025 Arrangement                       0  
Distributions (815)     (810)           (810)   (5)  
Ending balance (in shares) at Mar. 31, 2026   1,601,048,262       1,601,048,262 21,280            
Ending balance at Mar. 31, 2026 $ 8,586     $ 7,592 $ 9,157     $ (916) $ 218 $ (1,047) $ 180 $ 878 $ 116