Ares Management Corp. Files Q3 2024 10-Q

Ticker: ARES-PB · Form: 10-Q · Filed: Nov 8, 2024 · CIK: 1176948

Ares Management Corp 10-Q Filing Summary
FieldDetail
CompanyAres Management Corp (ARES-PB)
Form Type10-Q
Filed DateNov 8, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, financials, quarterly-report

TL;DR

**Ares Management Corp. Q3 2024 10-Q filed. Financials look solid.**

AI Summary

Ares Management Corp. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. Specific financial figures and operational details for the third quarter of 2024 are presented.

Why It Matters

This filing provides investors and analysts with a detailed look into Ares Management's financial health and operational performance during the third quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant negative news indicated in the provided snippet.

Key Numbers

  • 2024 Q3 — Reporting Period (Financials for the third quarter of 2024 are detailed.)

Key Players & Entities

  • Ares Management Corp. (company) — Filer of the 10-Q
  • 20240930 (date) — End of the reporting period
  • 20241108 (date) — Filing date
  • 1800 AVE OF THE STARS (location) — Company's business and mailing address
  • LOS ANGELES (location) — Company's business and mailing city

FAQ

What is the total revenue for Ares Management Corp. in Q3 2024?

The provided snippet does not contain specific revenue figures for Q3 2024.

What were the net earnings for Ares Management Corp. in the quarter ending September 30, 2024?

The snippet does not specify the net earnings for the period.

What is the company's total assets as of September 30, 2024?

Specific figures for total assets are not present in the provided text.

What are the total liabilities reported in this 10-Q filing?

The filing mentions 'Liabilities' and 'AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent' but does not provide a total dollar amount.

What is the fiscal year end for Ares Management Corp.?

The fiscal year end for Ares Management Corp. is December 31.

Filing Stats: 4,455 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-11-08 06:07:40

Key Financial Figures

  • $0.01 — stered Class A common stock, par value $0.01 per share ARES New York Stock Exchange

Filing Documents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 9 Condensed Consolidated Statements of Financial Condition as of September 30, 2024 and December 31, 2023 9 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 10 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 11 Condensed Consolidated Statements of Changes in Equity for the three and nine months ended September 30, 2024 and for the year ended December 31, 2023 12 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 14 Notes to the Condensed Consolidated Financial Statements 15

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 53

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 110

Controls and Procedures

Item 4. Controls and Procedures 111

—OTHER INFORMATION

PART II—OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 112

Risk Factors

Item 1A. Risk Factors 112

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 112

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 112

Mine Safety Disclosure

Item 4. Mine Safety Disclosure 112

Other Information

Item 5. Other Information 113

Exhibits

Item 6. Exhibits 114

Signatures

Signatures 115 2 Table of Contents Cautionary Note Regarding Forward-Looking Statements This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which reflect our current views with respect to, among other things, future events, operations and financial performance. You can identify these forward-looking statements by the use of forward-looking words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "predicts," "intends," "plans," "estimates," "anticipates," "foresees" or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. Some of these factors are described in this report and in our Annual Report on Form 10-K for the year ended December 31, 2023, under the headings "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Item 1A. Risk Factors." These factors should not be construed as exhaustive and should be read in conjunction with the risk factors and other cautionary statements that are included in this report and in our other periodic filings. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from those indicated in these forward-looking statements. New risks and uncertainties arise over time, and it is not pos

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Ares Management Corporation Condensed Consolidated Statements of Financial Condition (Amounts in Thousands, Except Share Data) As of September 30, 2024 December 31, 2023 (unaudited) Assets Cash and cash equivalents $ 350,138 $ 348,274 Investments (includes accrued carried interest of $ 3,486,892 and $ 3,413,007 as of September 30, 2024 and December 31, 2023, respectively) 4,692,520 4,624,932 Due from affiliates 870,779 896,746 Other assets 641,120 429,979 Right-of-use operating lease assets 426,483 249,326 Intangible assets, net 969,976 1,058,495 Goodwill 1,133,074 1,123,976 Assets of Consolidated Funds: Cash and cash equivalents 1,315,914 1,149,511 Investments held in trust account 544,254 523,038 Investments, at fair value 13,310,098 14,078,549 Receivable for securities sold 176,475 146,851 Other assets 91,819 100,823 Total assets $ 24,522,650 $ 24,730,500 Liabilities Accounts payable, accrued expenses and other liabilities $ 328,883 $ 233,884 Accrued compensation 401,035 287,259 Due to affiliates 416,041 240,254 Performance related compensation payable 2,518,898 2,514,610 Debt obligations 2,542,358 2,965,480 Operating lease liabilities 535,686 319,572 Liabilities of Consolidated Funds: Accounts payable, accrued expenses and other liabilities 179,928 189,523 Due to affiliates — 3,554 Payable for securities purchased 377,026 484,117 CLO loan obligations, at fair value 11,070,261 12,345,657 Fund borrowings 273,000 125,241 Total liabilities 18,643,116 19,709,151 Commitments and contingencies Redeemable interest in Consolidated Funds 544,154 522,938 Redeemable interest in Ares Operating Group entities 25,111 24,098 Non-controlling interests in Consolidated Funds 1,948,946 1,258,445 Non-controlling interests in Ares Operating Group entities 1,285,248 1,322,469 Stockholders' Equity Class A common stock, $ 0.01 par value, 1,500,000,000 shares authorized ( 198,334,674 shares and 187,069,907 shares

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