$ARES
Ares Management Corp

2017 Q3 Form 10-Q Financial Statement

#000162828017008149 Filed on August 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $288.4M $572.2M $369.5M
YoY Change -14.03% 54.84% 53.23%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $231.4M $438.5M $296.1M
YoY Change -13.3% 48.09% 55.43%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.700M $5.200M $9.700M
YoY Change -59.78% -46.39% -49.21%
% of Gross Profit
Operating Expenses $254.1M $448.2M $303.9M
YoY Change -10.32% 47.46% 42.98%
Operating Profit
YoY Change
Interest Expense $56.60M -$11.70M $11.70M
YoY Change 12.52% -200.0% -53.75%
% of Operating Profit
Other Income/Expense, Net $54.15M -$8.920M $17.41M
YoY Change -26.17% -151.25% -39.89%
Pretax Income $88.42M $115.1M $83.01M
YoY Change -29.5% 38.64% 44.23%
Income Tax $4.552M $1.253M -$4.434M
% Of Pretax Income 5.15% 1.09% -5.34%
Net Earnings $27.84M $49.88M $37.57M
YoY Change -35.72% 32.75% 210.89%
Net Earnings / Revenue 9.65% 8.72% 10.17%
Basic Earnings Per Share
Diluted Earnings Per Share $338.2K $591.9K $430.2K
COMMON SHARES
Basic Shares Outstanding 82.15M shares 81.32M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $986.0M $562.0M $498.0M
YoY Change 79.27% 12.85% -66.42%
Cash & Equivalents $986.0M $562.0M $498.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $998.0M $1.083B $626.0M
Other Receivables $36.00M $59.00M $75.00M
Total Short-Term Assets $2.020B $1.704B $1.199B
YoY Change 60.44% 42.12% -37.55%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $143.9M $143.8M
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.500B $4.040B $3.014B
YoY Change 52.35% 34.04% -83.32%
Other Assets $37.00M $39.00M
YoY Change
Total Long-Term Assets $5.999B $4.540B $3.473B
YoY Change 47.77% 30.74% -81.25%
TOTAL ASSETS
Total Short-Term Assets $2.020B $1.704B $1.199B
Total Long-Term Assets $5.999B $4.540B $3.473B
Total Assets $8.019B $6.244B $4.672B
YoY Change 50.77% 33.66% -77.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $780.0M $845.0M $481.0M
YoY Change 49.71% 75.68% 11.09%
Accrued Expenses $134.0M $89.00M $92.00M
YoY Change 2.29% -3.26% 12.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.412B $1.190B $755.0M
YoY Change 65.34% 57.62% 42.45%
LONG-TERM LIABILITIES
Long-Term Debt $5.084B $3.688B $2.460B
YoY Change 71.29% 49.92% -81.16%
Other Long-Term Liabilities $20.00M
YoY Change -76.19%
Total Long-Term Liabilities $5.084B $3.688B $2.480B
YoY Change 69.02% 48.71% -81.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.412B $1.190B $755.0M
Total Long-Term Liabilities $5.084B $3.688B $2.480B
Total Liabilities $6.642B $4.996B $4.089B
YoY Change 40.0% 22.18% -79.12%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $270.9M $270.6M $583.0M
YoY Change
Total Liabilities & Shareholders Equity $8.019B $6.244B $4.672B
YoY Change 50.77% 33.66% -77.15%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $27.84M $49.88M $37.57M
YoY Change -35.72% 32.75% 210.89%
Depreciation, Depletion And Amortization $3.700M $5.200M $9.700M
YoY Change -59.78% -46.39% -49.21%
Cash From Operating Activities -$888.1M -$12.40M $94.20M
YoY Change 170.43% -113.16% -95.06%
INVESTING ACTIVITIES
Capital Expenditures -$6.700M -$10.90M -$2.500M
YoY Change 131.03% 336.0% -28.57%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$6.700M -$10.90M -$2.500M
YoY Change 131.03% 336.0% -28.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 943.5M 47.30M 68.60M
YoY Change 133.71% -31.05% -103.69%
NET CHANGE
Cash From Operating Activities -888.1M -12.40M 94.20M
Cash From Investing Activities -6.700M -10.90M -2.500M
Cash From Financing Activities 943.5M 47.30M 68.60M
Net Change In Cash 48.70M 24.00M 160.3M
YoY Change -32.73% -85.03% 247.72%
FREE CASH FLOW
Cash From Operating Activities -$888.1M -$12.40M $94.20M
Capital Expenditures -$6.700M -$10.90M -$2.500M
Free Cash Flow -$881.4M -$1.500M $96.70M
YoY Change 170.78% -101.55% -94.94%

Facts In Submission

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Revenues
775547000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
292851000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
270609000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1377262000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1248473000 USD
CY2016Q2 us-gaap Undistributed Earnings
UndistributedEarnings
37390000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
34068000 USD
CY2017Q2 us-gaap Undistributed Earnings
UndistributedEarnings
44034000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
-3352000 USD
CY2016Q2 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
80715723 shares
CY2016Q2 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
82332193 shares
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
81752468 shares
CY2017Q2 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
84319882 shares
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
81469967 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has reclassified certain prior period amounts to conform to the current year presentation.</font></div></div>

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