Carlyle Investor Conference Presentation Deck
Reconciliation for Total Segment Information, continued
RECONCILIATION OF TOTAL INVESTMENTS
ATTRIBUTABLE TO THE CARLYLE GROUP INC.
(Dollars in millions)
INVESTMENTS, EXCLUDING PERFORMANCE ALLOCATIONS
Less: Amounts attributable to non-controlling interests in Consolidated
Funds
Plus: Investments in Consolidated Funds, eliminated in consolidation.
Less: Strategic equity method investments in NGP Management¹
Less: Investment in NGP general partners accrued performance
allocations 1
Less: Mark-to-Market gains associated with strategic equity menthod
investments in Fortitude Re²
TOTAL INVESTMENTS ATTRIBUTABLE TO THE CARLYLE GROUP
INC.
Less: CLO loans and other borrowings attributable to The Carlyle
Group Inc. 3
TOTAL INVESTMENTS ATTRIBUTABLE TO THE CARLYLE GROUP
INC., NET OF CLO LOANS AND OTHER BORROWINGS
03/31/20
$ 2,639.0
(191.8)
63.1
(379.3)
(539.1)
1,591.9
(305.2)
$ 1,286.7
RECONCILIATION OF
ACCRUED PERFORMANCE ALLOCATIONS
(Dollars in millions)
ACCRUED PERFORMANCE ALLOCATIONS, NET OF ACCRUED
GIVEBACK OBLIGATIONS
Plus: Accrued performance allocations from NGP Carry Funds4
Less: Accrued performance allocation-related expense
Plus: Receivable for giveback obligation from current and former
employees
Less: Deferred taxes on accrued performance allocations
Less: Net accrued performance allocations attributable to non-controlling
interests in consolidated entities
NET ACCRUED PERFORMANCE REVENUES BEFORE TIMING
DIFFERENCES
Plus: Timing differences between the period when accrued performance
allocations are realized and the period they are collected/distributed
NET ACCRUED PERFORMANCE REVENUES ATTRIBUTABLE TO
THE CARLYLE GROUP INC.
(3) Of the $322.8 million in CLO loans and other borrowings as of March 31, 2020, $305.2 million are collateralized by investments attributable to The Carlyle Group Inc.
(4) Accrued performance allocations are presented as an investment in the U.S. GAAP balance sheet.
03/31/20
$ 2,729.7
(1) The Company has equity interests in NGP Management Company, L.L.C. ("NGP Management"), the general partners of certain carry funds advised by NGP, and principal investments in certain NGP
funds. These equity interests are accounted for as investments under the equity method of accounting. Total investments attributable to The Carlyle Group Inc. excludes the strategic equity method
investment in NGP Management and investments in the general partners of certain NGP carry funds.
(2) The adjusted strategic equity method investment in Fortitude Re of $538.8 million includes $129.8 million of adjusted net income for the period from closing through March 31, 2020, and excludes
$539.1 million of unrealized mark-to-market gains associated with our pro rata share of the changes in fair value of embedded derivatives related to certain reinsurance contracts included in Fortitude
Re's U.S. GAAP financial statements.
(1,502.3)
1.4
(40.4)
(1.7)
1,186.7
14.1
$ 1,200.8
24View entire presentation