← Ares Management Corp

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 TTM
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — $438.9m $1.2b $1.1b $1.1b $1.3b
Net Income (Loss) Attributable to Parent $111.8m
$76.2m -31.87%
$57.0m -25.15%
$148.9m +161.11%
$152.1m +2.19%
$408.8m +168.72%
$167.5m -59.02%
$474.3m +183.11%
$463.7m -2.23%
$527.4m +13.72%
—
Net Income (Loss) Available to Common Stockholders, Basic $98.4m
$50.9m -48.27%
$28.4m -44.25%
$127.2m +348.27%
$130.4m +2.56%
$386.7m +196.49%
$167.5m -56.68%
$474.3m +183.11%
$441.0m -7.03%
$426.1m -3.37%
—
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $286.9m $172.9m $152.1m $372.8m $324.5m $918.3m $438.9m $885.8m $815.0m $834.5m —
Amortization of Intangible Assets — — — — — — — $126.0m $116.3m $193.4m —
Depreciation $8.2m $12.6m $16.1m $17.1m $19.0m $22.1m $26.2m $31.4m $32.2m $45.2m $243.1m
Depreciation Amortization Depletion — — — — — — $341.3m $231.7m $158.6m $243.1m $243.1m
Deferred Income Tax Expense (Benefit) ($19.8m) ($7.6m) $4.3m $7.9m $15.2m $82.6m $7.4m $97.8m $63.5m $83.1m —
Share-based Payment Arrangement, Expense $39.1m $69.7m $89.7m $97.7m $123.0m $237.2m $200.4m $256.0m — $740.5m $740.5m
Goodwill, Impairment Loss $0 $0 $0 $0 $0 $0 — $0 $0 $0 —
Impairment of Intangible Assets (Excluding Goodwill) — — — — — — $181.6m — — — —
Income (Loss) from Equity Method Investments — $66.8m ($3.8m) $57.4m $22.5m $114.9m $21.7m $86.7m $52.4m $319.3m —
Nonoperating Income (Expense) $115.1m $239.1m $96.2m $122.5m $65.9m $263.7m $204.4m $499.0m $329.3m $394.2m —
Other Nonoperating Income (Expense) — — — — — $14.4m $13.1m — — — —
Change In Working Capital — — — — — — ($194.6m) ($426.2m) ($203.0m) $273.2m ($265.9m)
Change In Receivables — — — — — — ($20.6m) ($48.9m) ($188.2m) ($37.8m) ($37.8m)
Changes In Account Receivables — — — — — ($745.0m) ($20.6m) — — — ($37.8m)
Change In Other Current Assets — — — — — — $371.2m ($424.2m) ($426.6m) ($69.2m) ($69.2m)
Change In Other Current Liabilities — — — — — — ($733.4m) $219.0m $47.0m ($28.9m) ($28.9m)
Net Cash Provided by (Used in) Operating Activities ($625.7m)
($1.9b) -197.78%
($1.4b) +23.94%
($2.1b) -46.99%
($425.7m) +79.57%
($2.6b) -509.89%
($734.1m) +71.72%
($233.3m) +68.23%
$2.8b +1296.58%
$3.3b +17.05%
$912.1m -72.08%
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $11.9m $33.2m $18.4m — — — ($35.8m) ($67.2m) ($91.5m) ($72.2m) ($76.0m)
Gain (Loss) on Investments — — — — — $19.1m $4.7m — — — —
Payments to Acquire Businesses, Net of Cash Acquired $0 $0 — — — — — — — — ($1.8b)
Net Cash Provided by (Used in) Investing Activities ($11.9m) ($33.2m) ($18.4m) ($16.8m) ($136.8m) ($1.1b) ($337.4m) ($111.1m) ($159.4m) ($1.8b) ($76.4m)
Cash flows from financing activities:
Issuance Of Debt — — — — — — $3.0b $3.3b $2.3b $4.4b $5.6b
Long Term Debt Issuance — — — — — — $3.0b $3.3b $2.3b $4.4b $5.6b
Long Term Debt Payments — — — — — — ($1.2b) ($1.6b) ($4.6b) ($4.1b) ($4.1b)
Net Issuance Payments Of Debt — — — — — — $1.8b $1.7b ($2.3b) $293.1m $1.5b
Net Long Term Debt Issuance — — — — — — $1.8b $1.7b ($2.3b) $293.1m $1.5b
Net Short Term Debt Issuance — — — — — $415.0m $285.0m $195.0m — — —
Repayment Of Debt — — — — — — ($1.2b) ($1.6b) ($4.6b) ($4.1b) ($4.1b)
Short Term Debt Issuance — — — — — $883.0m $1.4b $1.4b — — —
Short Term Debt Payments — — — — — ($468.0m) ($1.1b) ($1.2b) — — —
Common Stock Dividend Paid — — — — — — ($836.4m) ($1.0b) ($1.3b) ($1.8b) ($1.9b)
Common Stock Issuance — — — — — — $0 $0 $407.1m $0 $52.7m
Issuance Of Capital Stock — — — — — — $0 $0 $1.9b $0 $1.5b
Repurchase Of Capital Stock — — — — — ($310.0m) $0 $0 — — —
Cash Dividends Paid — — — — — — ($836.4m) ($1.0b) ($1.3b) ($1.8b) ($1.9b)
Preferred Stock Dividend Paid — — — — — ($10.8m) $0 $0 — — —
Net Other Financing Charges — — — — — — $173.8m ($445.6m) $289.9m ($963.6m) ($179.4m)
Net Cash Provided by (Used in) Financing Activities $880.8m
$1.7b +87.90%
$1.4b -15.08%
$2.1b +51.02%
$943.9m -55.53%
$3.5b +271.19%
$1.1b -67.80%
$292.1m -74.10%
($1.4b) -590.06%
($2.4b) -69.54%
($604.3m) +75.10%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — — $28.1m $401.4m ($196.2m) $46.3m ($41.7m) $1.2b ($1.0b) $741.1m
Beginning Cash Position — — — — — — $343.7m $390.0m $348.3m $1.5b $509.7m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $138.4m $539.8m $343.7m $390.0m $348.3m $1.5b $488.9m $741.1m
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $5.6m $20.0m ($19.1m) ($10.2m) $10.5m ($40.5m) ($55.2m) ($184.0m)
Effect Of Exchange Rate Changes — — — — — — ($10.2m) $10.5m ($40.5m) ($55.2m) ($184.0m)
Additional Supplementary Disclosures
Additional Supplementary Disclosures
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities — — — — $257.1m $205.1m $320.3m $722.6m $866.8m $675.8m —
Income Taxes Paid, Net — — — — — — $104.9m $62.0m $107.6m $91.3m —
Additional Financial Items
Foreign Currency Transaction Gain (Loss), Realized ($16.2m) ($1.7m) ($100k) $8.5m ($13.1m) ($4.8m) ($13.5m) ($9.1m) $600k ($17.0m) —
Goodwill $143.7m $143.9m $143.8m $143.9m $371.0m $788.0m $999.7m $1.1b $1.2b $3.5b —
Income Tax Expense (Benefit) $11.0m ($23.1m) $32.2m $52.4m $55.0m $147.4m $71.9m $173.0m $164.6m $198.5m —
Operating Expenses $1.0b $1.5b $870.4m $1.5b $1.5b $3.4b $2.7b $2.8b $2.9b $4.7b —
Cash Flow From Continuing Financing Activities — — — — — — $1.1b $292.1m ($1.4b) ($2.4b) ($604.3m)
Cash Flow From Continuing Investing Activities — — — — — — ($337.4m) ($111.1m) ($159.4m) ($1.8b) ($76.4m)
Change In Account Payable — — — — — — ($51.7m) $27.9m $148.4m $92.0m $92.0m
Change In Cash Supplemental As Reported — — — — — — $46.3m ($41.7m) $1.2b ($1.0b) —
Change In Other Working Capital — — — — — — $239.8m ($200.0m) $216.4m $317.2m $317.2m
Change In Payable — — — — — — ($51.7m) $27.9m $148.4m $92.0m $92.0m
Changes In Cash — — — — — — $56.6m ($52.2m) $1.2b ($963.8m) $231.4m
End Cash Position — — — — — — $390.0m $348.3m $1.5b $488.9m $741.1m
Financing Cash Flow — — — — — — $1.1b
$292.1m -74.10%
($1.4b) -590.06%
($2.4b) -69.54%
($604.3m) +75.10%
Free Cash Flow — — — — — — ($769.9m) ($300.4m) $2.7b $3.2b $836.1m
Investing Cash Flow — — — — — — ($337.4m) ($111.1m) ($159.4m) ($1.8b) ($76.4m)
Net Business Purchase And Sale — — — — — — ($301.6m) ($43.9m) ($67.9m) ($1.7b) ($416k)
Net PPE Purchase And Sale — — — — — — ($35.8m) ($67.2m) ($91.5m) ($72.2m) ($76.0m)
Net Preferred Stock Issuance — — — — — — $0 $0 $1.5b $0 $0
Operating Gains Losses — — — — — — ($62.5m) ($353.4m) ($335.4m) ($866.4m) ($866.4m)
Other Non Cash Items — — — — — — ($1.5b) ($1.1b) $1.7b $1.8b —
Preferred Stock Payments — — — — — ($310.0m) $0 $0 — — —
Proceeds From Stock Option Exercised — — — — — — $21.2m $86.0m $1.5m $0 $0
Purchase Of Business — — — — — — ($301.6m) ($43.9m) ($67.9m) ($1.7b) ($1.8b)
Purchase Of PPE — — — — — — ($35.8m) ($67.2m) ($91.5m) ($72.2m) ($76.0m)
Stock Based Compensation — — — — — — $200.4m $256.0m $352.9m $740.5m $740.5m

Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.