Blackstone Q2 2024 10-Q Filed

TL;DR

Blackstone's 10-Q is in: Secured debt at 7.64% due 2033 & 2035. Fair value is Level II.

AI Summary

Blackstone Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and includes information on secured borrowings with interest rates of 7.64%, maturing in October 2033 and January 2035. Fair value measurements are noted as Level II within the fair value hierarchy, determined by broker quotes.

Why It Matters

This filing provides investors with an update on Blackstone's financial health and debt obligations, including specific details on interest rates and maturity dates for significant borrowings.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags indicating significant new risks.

Key Numbers

• 7.64% — Interest Rate (Applies to secured borrowings maturing in 2033 and 2035.)

Key Players & Entities

• Blackstone Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• October 2033 (date) — Maturity date of a secured borrowing
• January 2035 (date) — Maturity date of a secured borrowing
• 7.64% (dollar_amount) — Interest rate on secured borrowings

FAQ

Filing Documents

• d844230d10q.htm (10-Q) — 8134KB
• d844230d10q1.pdf (10-Q) — 1365KB
• d844230dex311.htm (EX-31.1) — 12KB
• d844230dex312.htm (EX-31.2) — 12KB
• d844230dex321.htm (EX-32.1) — 5KB
• d844230dex322.htm (EX-32.2) — 5KB
• d844230dex991.htm (EX-99.1) — 3KB
• g844230g00a01.jpg (GRAPHIC) — 25KB
• g844230g00a75.jpg (GRAPHIC) — 107KB
• g844230g00a85.jpg (GRAPHIC) — 172KB
• g844230g00a95.jpg (GRAPHIC) — 104KB
• g844230g00a97.jpg (GRAPHIC) — 137KB
• g844230g00a98.jpg (GRAPHIC) — 137KB
• g844230g01a37.jpg (GRAPHIC) — 90KB
• 0001193125-24-192846.txt ( ) — 29449KB
• bx-20240630.xsd (EX-101.SCH) — 104KB
• bx-20240630_cal.xml (EX-101.CAL) — 66KB
• bx-20240630_def.xml (EX-101.DEF) — 712KB
• bx-20240630_lab.xml (EX-101.LAB) — 702KB
• bx-20240630_pre.xml (EX-101.PRE) — 742KB
• d844230d10q_htm.xml (XML) — 6364KB

Financial Statements

Financial Statements 6 Unaudited Condensed Consolidated Financial Statements: Condensed Consolidated Statements of Financial Condition as of June 30, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 8 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 9 Condensed Consolidated Statements of Changes in Equity for the Three and Six Months Ended June 30, 2024 and 2023 10 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 14 Notes to Condensed Consolidated Financial Statements 16 Item 1A. Unaudited Supplemental Presentation of Statements of Financial Condition 67 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 69 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 142 Item 4.

Controls and Procedures

Controls and Procedures 142 Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 143 Item 1A.

Risk Factors

Risk Factors 143 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 144 Item 3. Defaults Upon Senior Securities 144 Item 4. Mine Safety Disclosures 144 Item 5. Other Information 144 Item 6. Exhibits 145

Signatures

Signatures 147 1 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This report may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which reflect our current views with respect to, among other things, our operations, taxes, earnings and financial performance, share repurchases and dividends. You can identify these forward-looking statements by the use of words such as "outlook," "indicator," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "scheduled," "estimates," "anticipates," "opportunity," "leads," "forecast" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to those described under the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023, as such factors may be updated from time to time in our periodic filings with the United States Securities and Exchange Commission ("SEC"), which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this report and in our other periodic filings. The forward-looking statements speak only as of the date of this report, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. Website and Social Media Disclosure We use our website (www.blackstone.com), Facebook page (www.facebook.com/blackstone), X (Twitter) (www.x.com/blackstone), LinkedIn (www.

Financial Information

Part I. Financial Information Item1.

Financial Statements

Financial Statements Blackstone Inc. Condensed Consolidated Statements of Financial Condition (Unaudited) (Dollars in Thousands, Except Share Data) June 30, December 31, 2024 2023 Assets Cash and Cash Equivalents $ 2,381,436 $ 2,955,866 Cash Held by Blackstone Funds and Other 219,393 316,197 Investments 26,426,289 26,146,622 Accounts Receivable 247,538 193,365 Due from Affiliates 4,868,069 4,466,521 Intangible Assets, Net 183,246 201,208 Goodwill 1,890,202 1,890,202 Other Assets 1,083,400 944,848 Right-of-Use Assets 995,524 841,307 Deferred Tax Assets 2,289,932 2,331,394 Total Assets $ 40,585,029 $ 40,287,530 Liabilities and Equity Loans Payable $ 10,688,193 $ 11,304,059 Due to Affiliates 2,364,099 2,393,410 Accrued Compensation and Benefits 5,703,156 5,247,766 Operating Lease Liabilities 1,142,317 989,823 Accounts Payable, Accrued Expenses and Other Liabilities 2,012,969 2,277,258 Total Liabilities 21,910,734 22,212,316 Commitments and Contingencies Redeemable Non-Controlling Interests in Consolidated Entities 888,868 1,179,073 Equity Stockholders' Equity of Blackstone Inc. Common Stock, $ 0.00001 par value, 90 billion shares authorized, ( 722,540,712 shares issued and outstanding as of June 30, 2024; 719,358,114 shares issued and outstanding as of December 31, 2023) 7 7 Series I Preferred Stock, $ 0.00001 par value, 999,999,000 shares authorized, ( 1 share issued and outstanding as of June 30, 2024 and December 31, 2023) — — Series II Preferred Stock, $ 0.00001 par value, 1,000 shares authorized, ( 1 share issued and outstanding as of June 30, 2024 and December 31, 2023) — — Additional Paid-in-Capital 6,260,619 6,175,190 Retained Earnings 607,564 660,734 Accumulated Other Comprehensive Loss ( 34,617 ) ( 19,133 ) Total Stockholders' Equity of Blackstone Inc. 6,833,573 6,816,798 Non-Controlling Interests in Consolid

View Full Filing

View this 10-Q filing on SEC EDGAR