v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Revenues $ 1,047 $ 931 $ 2,037 $ 1,885
Realized 0 0 16 0
Unrealized 553 (63) 649 (61)
Total investment income 553 (63) 665 (61)
Interest and dividend revenue 27 34 48 47
Interest and dividend revenue of consolidated funds 9 8 17 15
Other revenues 117 180 324 285
Total revenues 1,753 1,090 3,091 2,171
Expenses        
Compensation and benefits (405) (404) (760) (663)
Other operating expenses (118) (82) (216) (160)
General, administrative and other (25) (18) (47) (24)
Total compensation, operating, and general and administrative expenses (548) (504) (1,023) (847)
Carried interest allocation compensation        
Realized (7) (17) (29) (50)
Unrealized (44) 1 (233) (112)
Total carried interest allocation compensation (51) (16) (262) (162)
Interest expense (53) (31) (90) (34)
Interest expense of consolidated funds (7) (6) (17) (16)
Total expenses (659) (557) (1,392) (1,059)
Other (expenses) income, net (29) (68) (19) (137)
Share of income from equity method investments 199 181 269 239
Other income, net of consolidated funds 70 13 81 27
Income before provision for taxes 1,334 659 2,030 1,241
Income tax expense (162) (75) (272) (150)
Net income 1,172 584 1,758 1,091
Preferred shares redeemable non-controlling interest (16) 99 73 226
Redeemable non-controlling interest in consolidated funds (30) 0 (24) 0
Non-controlling interest in consolidated entities (201) (54) (270) (102)
Non-controlling interests in consolidated funds (21) (9) (16) (14)
Net income attributable to the common stockholders $ 904 $ 620 $ 1,521 $ 1,201
Class A Shares        
Carried interest allocation compensation        
Earnings per share - basic (in dollars per share) $ 0.56 $ 0.38 $ 0.95 $ 0.74
Earnings per share - diluted (in dollars per share) $ 0.56 $ 0.38 $ 0.94 $ 0.74
Weighted average of common stock outstanding - basic (in shares) 1,597.6 1,612.6 1,602.0 1,613.0
Weighted average of common stock outstanding - diluted (in shares) 1,612.5 1,628.3 1,614.3 1,629.0
Management Service        
Revenues        
Revenues $ 919 $ 815 $ 1,779 $ 1,652
Incentive fees        
Revenues        
Revenues $ 128 $ 116 $ 258 $ 233