Brookfield Investment Outlook
Third Quarter Financial Performance
Fee-Related Earnings (FRE) of $565 million ($0.35/share), up 8% from the prior year period
Distributable Earnings (DE) of $568 million ($0.35/share), up 8% from the prior year period
Brookfield
FOR THE PERIODS ENDED SEP. 30
(MILLIONS, EXCEPT PER SHARE AMOUNTS)
Last Three Months
Last Twelve Months
Q3-23
Q3-22
Variance
Q3-23
Fee Revenues
$
1,109
$
1,021
$
88
$
4,344
$
Direct Costs
(511)
(462)
(49)
(1,976)
Q3-22
3,876
(1,737)
Variance
$
468
(239)
Total Fee-Related Earnings (excl. performance fees)
598
559
39
2,368
2,139
229
Amounts not attributable to Brookfield Asset Management
(33)
(36)
3
(132)
(152)
20
Brookfield Asset Management Fee-Related Earnings
(excl. performance fees)
565
523
42
2,236
1,987
249
FRE Margin at Our Share 1
56 %
57 %
(1)%
57 %
57 %
-
%
Add: Performance Fees
78
Less: Cash Taxes
Fee-Related Earnings (FRE)
Add: Equity-Based Compensation Costs and Other 2
Distributable Earnings (DE)
SA
FRE as % of DE
$
565
49
(46)
$
568
$
99%
69
SA
22
523
22
(21)
$
524
SA
EA
42
$
2,236
$
2,065
(78)
171
27
177
81
(25)
(186)
(81)
96
(105)
44
$
2,227
2,065
EA
100 %
(1)%
100 %
100 %
$
162
%
Per share
Fee-Related Earnings
Distributable Earnings
Total diluted shares at end of period
$
0.35
0.35
$
0.32
0.32
$ 0.03
$
1.37
$
1.26
$
0.11
0.03
1.36
1.26
0.10
1,635.3
1,635.3
1,635.3
1,635.3
1.
2.
FRE Margin at our share is calculated excluding the impact of performance fees, consolidating our share of non-controlling interest revenues and costs.
Other includes Brookfield Asset Management's portion of Oaktree investment income, realized carried interest, and other income.
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