TPG Investor Presentation Deck
DE Bridge
($M)
GAAP 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) attributable to other non-controlling interests
- 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
-
1
- Reorganization Transaction Adjustments
1
- Offering Transaction Adjustments ¹
After-Tax Pro Forma Distributable Earnings
+ Income taxes
Pre-Tax Pro Forma Distributable Earnings
2020
$1,439
196
12
(549)
(402)
(267)
(20)
21
11
$441
(184)
(25)
$232
15
$247
2021
$4,656
(155)
(19)
(2,081)
14
(857)
(295)
(21)
(2)
$1,240
(677)
(24)
$538
34
$572
1Q'22
$163
(1)
(119)
3
190
(36)
(3)
(1)
(1)
3
$199
$199
16
$215
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.
TPG
1Q'22 LTM
$3,657
(93)
(25)
(1,711)
17
190
(490)
(171)
(35)
(1)
1
$1,339
(644)
(24)
$672
46
$718
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