TPG Financial Performance and Growth Strategies
DE Bridge
($M)
TPG
2020
2021
1Q'22
1Q'22 LTM
GAAP Net Income
$1,439
$4,656
$163
$3,657
+/- Net (income) loss attributable to redeemable interests in Public SPACS
196
(155)
(1)
(93)
+/- Net (income) loss attributable to non-controlling interests in consolidated TPG Funds
12
(19)
(25)
-
· Net (income) attributable to other non-controlling interests
(549)
(2,081)
(119)
(1,711)
- Gain on deconsolidation
+ Amortization expense
+ Equity-based compensation
- Unrealized performance allocations, net
- Unrealized investment income
+/- Unrealized (gain) loss on derivatives
- Income taxes
+/- Non-recurring items and other
After-tax Distributable Earnings
· Reorganization Transaction Adjustments¹
- Offering Transaction Adjustments¹
After-Tax Pro Forma Distributable Earnings
+ Income taxes
(402)
14
3
17
190
190
(267)
(857)
(36)
(490)
(20)
(295)
(3)
(171)
21
(21)
(1)
(35)
(1)
(1)
11
(2)
3
1
$441
$1,240
$199
$1,339
(184)
(677)
(644)
(25)
(24)
(24)
$232
$538
$199
$672
15
34
16
46
Pre-Tax Pro Forma Distributable Earnings
$247
$572
$215
$718
Note: Figures above may not sum due to rounding.
1. See the public TPG 4Q21 Earnings Release dated March 28, 2022 and the public TPG 1Q22 Earnings Release dated May 10, 2022 for a full description of pro forma adjustments for 2020 and 2021, and 1Q'22 and 1Q'22 LTM, respectively.
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