v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net Income $ 1,257,907 $ 1,208,774
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities    
Net Realized Gains on Investments (1,434,843) (962,050)
Changes in Unrealized (Gains) Losses on Investments 317,115 (188,532)
Non-Cash Performance Allocations (283,452) (263,201)
Non-Cash Performance Allocations and Incentive Fee Compensation 577,518 402,478
Equity-Based Compensation Expense 560,862 471,089
Amortization of Intangibles 9,035 8,975
Other Non-Cash Amounts Included in Net Income (201,230) (15,888)
Cash Flows Due to Changes in Operating Assets and Liabilities    
Cash Acquired with Consolidation of Fund Entities 830 0
Cash Relinquished with Deconsolidation of Fund Entities (38) (65,803)
Accounts Receivable (366,998) (38,821)
Due from Affiliates 238,420 309,497
Other Assets 154,786 46,638
Accrued Compensation and Benefits (709,726) (449,351)
Accounts Payable, Accrued Expenses and Other Liabilities 176,546 100,481
Due to Affiliates (24,181) 512,648
Investments Purchased (910,198) (1,541,852)
Cash Proceeds from Sale of Investments 1,628,693 1,574,136
Net Cash Provided by Operating Activities 991,046 1,109,218
Investing Activities    
Purchase of Furniture, Equipment and Leasehold Improvements (33,409) (29,278)
Net Cash Used in Investing Activities (33,409) (29,278)
Financing Activities    
Distributions to Non-Controlling Interest Holders in Consolidated Entities (356,296) (252,572)
Contributions from Non-Controlling Interest Holders in Consolidated Entities 458,136 1,430,763
Payments Under Tax Receivable Agreement (63,820) (43,954)
Net Settlement of Vested Common Stock and Repurchase of Common Stock (66,347) (100,126)
Proceeds from Loans Payable 900,000 1,024,556
Repayment and Repurchase of Loans Payable (47,686) (60,895)
Dividends/Distributions to Stockholders and Unitholders (1,917,928) (1,858,537)
Net Cash Used in Financing Activities (1,093,941) 139,235
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other (7,938) 4,570
Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other    
Net Increase (Decrease) (144,242) 1,223,745
Beginning of Period 2,854,682 2,176,192
End of Period 2,710,440 3,399,937
Supplemental Disclosure of Cash Flows Information    
Payments for Interest 104,084 96,057
Payments for Income Taxes 76,016 64,535
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Non-Cash Contributions from Non-Controlling Interest Holders 4,567 4,186
Non-Cash Distributions to Non-Controlling Interest Holders (4,640) (3,966)
Transfer of Interests to Non-Controlling Interest Holders (26,153) 3,107
Net Settlement of Vested Common Stock 334,203 418,449
Deferred Tax Asset Increase (Decrease) from Equity Transactions 49,127 212,113
Due to Affiliates Increase Related to the Impact of Conversions on Tax Receivable Agreements $ 30,897 $ 168,980