TPG Results Presentation Deck
GAAP to Non-GAAP Financial Measures Reconciliation
($ in thousands)
GAAP Revenue
Capital-allocation Income
Expense Reimbursements
Investment income and other
Fee-Related Revenue
GAAP Expense
Depreciation and amortization expense
Interest expense
Expense related to consolidated TPG Funds and Public SPACS
Expense Reimbursements
Performance allocation compensation
Equity based compensation
Non-core expenses and other
Fee-Related Expenses
($ in thousands)
Net Income
Net (income) attributable to redeemable interests in Public
SPACS
Net (income) attributable to non-controlling interests in
consolidated TPG Funds
Net (income) attributable to other non-controlling interests
Amortization expense
Equity-based compensation
Unrealized performance allocations, net
Unrealized investment income
Unrealized (gain) loss on derivatives
Income tax
Non-recurring and other
After-tax Distributable Earnings
Income taxes
Distributable Earnings
Realized performance allocations, net
Realized investment income and other, net
Depreciation expense
Interest expense, net
Fee-Related Earnings
$
$
$
$
1Q'21
$ 1,204,733 $ 2,181,063 $ 511,264 $ 1,079,327 $ 1,110,710 $
(1,986,011) (231,356) (786,538) (837,704)
(30,357) (21,959) (50,109) (32,677)
10,800
1,558
(3,556)
204
175,495 $ 259,507 $ 239,125 $ 240,532 $
(994,578)
(30,385)
13,182
192,952 $
$
194,646 $
(1,364)
(3,921)
(8,250)
(30,385)
8,626
159,352 $
1Q'21
1,161,314 $
(63,558)
5,736
(489,065)
(402,568)
(126,603)
14,160
2Q'21
99,416
3,307
198,720 $
(1,522)
(4,026)
(3,460)
(30,355)
6,897
166,254 $
2Q'21
2,140,442 $
(73,901)
3Q'21
(747,002)
(93,469)
(16,972)
224,177 $
(2,251)
(4,371)
(12,782)
(21,960)
3,801
9,241 $
(10,194)
172,620 $
(1,293)
(12,634)
(998,500) (179,199)
3Q'21
520,483 $
4,250
390,552
(85,607)
(13,907)
197,964
635,279
3
3,089
102,723
201,053
635,282
(66,121) (176,698) (505,626)
(7,995)
(20,441)
1,355
1,526
3,638
33,600 $
4Q'21
(48,312)
1,737
3,806
86,886 $
299,023 $
(16,086)
(3,973)
3,728
(50,109)
(42,282)
190,301 $
4Q'21
833,758 $
(21,922)
(96,417)
9,218
(3,907)
1Q'22
(2,220)
307,204
2,909
310,113
(251,158)
(15,972)
2,157
3,684
48,825 $
942,532 $
(8,699)
(4,638)
(1,523)
(11,096)
(414,406) (118,904)
14,195
3,272
(32,677)
(523,138)
(185,911)
(37,397)
148,549 $
1Q'22
162,804 $
(1,306)
190,462
(35,949)
(2,591)
(685)
(1,301)
3,231
199,033
16,433
215,466
(122,192)
(7,293)
1,571
4,431
91,983 $
2Q'22
54,170 $
(8,558)
(4,731)
(457)
(108,282) $ 1,002,428 $ 2,593,019
398,237
(36,022)
1,939
255,872 $
(439,468) (1,457,361)
(68,699) (140,767)
2,143
145
496,404 $ 995,036
(36,022)
298,026
(145,140)
(3,219)
154,069 $
2Q'22
(262,497) $
(4,058)
127,827
3,083
146,023
119,222
31,201
2Q'22 YTD
(37)
(1,848)
2,951
161,867
9,831
171,698
(60,175)
(15,443)
1,468
4,255
101,803 $
996,702 $
(17,257)
(9,369)
(1,980)
(68,699)
(225,112)
2Q'22 LTM
(140,768)
(225,112)
(331,051)
(331,051)
(40,616)
(93,092)
302,618 $ 665,539
8,923
6,355
336,485
83,273
28,610
2Q'22 YTD 2Q'22 LTM
(99,693) $
1,254,548
(5,364)
(23,036)
(722)
(3,149)
6,182
1,519,902
(35,594)
(17,713)
(11,034)
360,900
26,264
387,164
(182,367)
(22,736)
3,039
8,686
193,786 $
(12,389)
(584,682)
20,550
336,485
377,408
(47,779)
(18,536)
(3,149)
3,962
1,303,383
29,176
1,332,559
(939,151)
(87,020)
6,933
16,176
329,497
TPG | 43View entire presentation