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 1,317     1,201           1,201   102 14
Other comprehensive income (loss) 34     34             34    
Share subscriptions (in shares)           527,383              
Share subscriptions 8     8 12       (4)        
Acquisition of treasury shares, net (in shares)           (1,660,280)              
Acquisition of treasury shares, net (122)     (122)       (122)          
Contributions 268     43         56 (13)   62 163
2025 Arrangement 0     31 (120)     7 144     (31)  
Distributions (1,422)     (1,415)           (1,415)   (7)  
Ending balance (in shares) at Jun. 30, 2025           1,613,105,384 21,280            
Ending balance at Jun. 30, 2025 9,171     8,470 9,149     (220) 60 (715) 196 524 177
Beginning balance (in shares) at Mar. 31, 2025           1,612,540,300 21,280            
Beginning balance at Mar. 31, 2025 8,963     8,489 9,140     (220) 10 (617) 176 467 7
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income 683     620           620   54 9
Other comprehensive income (loss) 20     20             20    
Share subscriptions (in shares)           366,770              
Share subscriptions 5     5 9       (4)        
Acquisition of treasury shares, net (in shares)           198,314              
Acquisition of treasury shares, net 0                        
Contributions 214     44         54 (10)   9 161
2025 Arrangement                       0  
Distributions (714)     (708)           (708)   (6)  
Ending balance (in shares) at Jun. 30, 2025           1,613,105,384 21,280            
Ending balance at Jun. 30, 2025 9,171     8,470 9,149     (220) 60 (715) 196 524 177
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 1,807     1,521           1,521   270 16
Other comprehensive income (loss) (23)     (23)             (23)    
Share subscriptions (in shares)           337,963              
Share subscriptions 0     0 6       (2) (4)      
Acquisition of treasury shares, net (in shares)           (11,614,867)              
Acquisition of treasury shares, net (592)     (592)       (592)          
Contributions 705     105         105     41 559
2025 Arrangement                       0  
Distributions (1,621)     (1,616)           (1,616)   (5)  
Ending balance (in shares) at Jun. 30, 2026   1,597,215,738       1,597,215,738 21,280            
Ending balance at Jun. 30, 2026 9,188     7,513 9,159     (1,118) 257 (950) 165 1,079 596
Beginning balance (in shares) at Mar. 31, 2026           1,601,048,262 21,280            
Beginning balance at Mar. 31, 2026 8,586     7,592 9,157     (916) 218 (1,047) 180 878 116
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income 1,126     904           904   201 21
Other comprehensive income (loss) (15)     (15)             (15)    
Share subscriptions (in shares)           73,434              
Share subscriptions 0     0 2       (1) (1)      
Acquisition of treasury shares, net (in shares)           (3,905,958)              
Acquisition of treasury shares, net (202)     (202)       (202)          
Contributions 499     40         40       459
Distributions (806)     (806)           (806)      
Ending balance (in shares) at Jun. 30, 2026   1,597,215,738       1,597,215,738 21,280            
Ending balance at Jun. 30, 2026 $ 9,188     $ 7,513 $ 9,159     $ (1,118) $ 257 $ (950) $ 165 $ 1,079 $ 596