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) loss attributable to redeemable interests in Public SPACS
Net (income) loss attributable to non-controlling interests in consolidated TPG Funds
Net (income) loss 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 $
(994,578)
(1,986,011)
(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
99,416
3,307
102,723
(66,121)
(7,995)
1,355
3,638
33,600
2Q'21
$
(30,357)
10,800
175,495 $
198,720 $
(1,522)
(4,026)
(3,460)
(30,356)
6,899
166,255 $
2Q'21
2,140,442 $
(73,901)
(12,634)
(998,500)
(748,072)
(92,398)
(16,972)
197,965
3,089
201,054
(176,698)
(20,441)
1,525
3,801
9,240 $
3Q'21
511,264 $ 1,079,327
(231,356)
(786,538)
(21,959)
1,558
259,507
224,177
(2,251)
(4,371)
(12,782)
(21,960)
3Q'21
(10,194)
172,620 $
$
390,552
(85,607)
(13,907)
$
520,483 $
4,250
(1,293)
(179,199)
635,279
3
635,282
(505,626)
(48,312)
1,737
3,806
86,886
4Q'21
$
(50,109)
(3,556)
239,125 $
299,023
(16,086)
(3,973)
3,728
(50,109)
4Q'21
(42,282)
190,301 $
(96,417)
9,218
(3,907)
$ 1,110,710
833,758 $
(21,922)
(11,096)
(414,406)
14,195
(2,220)
307,204
2,909
$
310,113
(251,158)
(15,972)
2,157
3,684
48,825
1Q'22
$
(837,704)
(32,677)
204
240,532 $
942,532 $
(8,699)
(4,638)
(1,523)
(32,677)
(523,138)
(185,911)
(37,397)
148,549
$
(118,904)
3,272
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
$
1Q'22 LTM
$
4,882,363
(3,841,609)
(135,102)
9,006
914,659
1Q'22
1Q'22 LTM
162,804 $ 3,657,487
(1,306)
(92,879)
(25,023)
(1,711,009)
17,467
190,462
(489,886)
(171,378)
(35,471)
1,664,451
(28,558)
(17,008)
(14,037)
(135,102)
(523,138)
185,911)
(82,972)
677,725
(1,301)
1,011
1,339,480
22,434
1,361,914
(1,055,674)
(92,018)
6,991
15,721
236,934
TPG | 43View entire presentation