$ARES
Ares Management Corp

2017 Q4 Form 10-Q Financial Statement

#000162828017010895 Filed on November 06, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $356.3M $288.4M $335.5M
YoY Change -0.53% -14.03% 133.19%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $295.7M $231.4M $266.9M
YoY Change 4.23% -13.3% 111.32%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.700M $3.700M $9.200M
YoY Change -58.43% -59.78% -26.4%
% of Gross Profit
Operating Expenses $311.0M $254.1M $283.4M
YoY Change 3.8% -10.32% 107.77%
Operating Profit
YoY Change
Interest Expense $70.20M $56.60M $50.30M
YoY Change -41.21% 12.52% 491.76%
% of Operating Profit
Other Income/Expense, Net $72.81M $54.15M $73.34M
YoY Change 82.75% -26.17% -285.42%
Pretax Income $136.9M $88.42M $125.4M
YoY Change 39.08% -29.5% -490.91%
Income Tax $5.400M $4.552M $7.641M
% Of Pretax Income 3.94% 5.15% 6.09%
Net Earnings $39.60M $27.84M $43.31M
YoY Change 16.39% -35.72% -481.58%
Net Earnings / Revenue 11.11% 9.65% 12.91%
Basic Earnings Per Share
Diluted Earnings Per Share $481.8K $338.2K $512.4K
COMMON SHARES
Basic Shares Outstanding 82.21M shares 82.15M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $675.0M $986.0M $550.0M
YoY Change -15.41% 79.27% 16.03%
Cash & Equivalents $118.9M $986.0M $550.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $998.0M $654.0M
Other Receivables $36.00M $55.00M
Total Short-Term Assets $749.0M $2.020B $1.259B
YoY Change -52.83% 60.44% 17.23%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $143.9M $143.9M
YoY Change 0.12%
Intangibles
YoY Change
Long-Term Investments $7.307B $5.500B $3.610B
YoY Change 92.34% 52.35% 11.9%
Other Assets $8.000M $37.00M
YoY Change 14.29%
Total Long-Term Assets $7.815B $5.999B $4.060B
YoY Change 84.23% 47.77% 10.27%
TOTAL ASSETS
Total Short-Term Assets $749.0M $2.020B $1.259B
Total Long-Term Assets $7.815B $5.999B $4.060B
Total Assets $8.564B $8.019B $5.319B
YoY Change 46.89% 50.77% 11.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $822.0M $780.0M $521.0M
YoY Change 37.46% 49.71% 26.46%
Accrued Expenses $28.00M $134.0M $131.0M
YoY Change -78.79% 2.29% 13.91%
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 $1.239B $1.412B $854.0M
YoY Change 29.6% 65.34% 187.54%
LONG-TERM LIABILITIES
Long-Term Debt $5.718B $5.084B $2.968B
YoY Change 68.57% 71.29% -0.37%
Other Long-Term Liabilities $40.00M
YoY Change 29.03%
Total Long-Term Liabilities $5.718B $5.084B $3.008B
YoY Change 68.57% 69.02% -0.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.239B $1.412B $854.0M
Total Long-Term Liabilities $5.718B $5.084B $3.008B
Total Liabilities $7.103B $6.642B $4.744B
YoY Change 59.54% 40.0% 5.99%
SHAREHOLDERS EQUITY
Retained Earnings $0.00
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.460B $270.9M $575.0M
YoY Change
Total Liabilities & Shareholders Equity $8.564B $8.019B $5.319B
YoY Change 46.89% 50.77% 11.84%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $39.60M $27.84M $43.31M
YoY Change 16.39% -35.72% -481.58%
Depreciation, Depletion And Amortization $3.700M $3.700M $9.200M
YoY Change -58.43% -59.78% -26.4%
Cash From Operating Activities -$670.8M -$888.1M -$328.4M
YoY Change 83.13% 170.43% -82.06%
INVESTING ACTIVITIES
Capital Expenditures -$5.300M -$6.700M -$2.900M
YoY Change 43.24% 131.03% 61.11%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$5.300M -$6.700M -$2.900M
YoY Change 43.24% 131.03% 61.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 603.4M 943.5M 403.7M
YoY Change 54.28% 133.71% -80.81%
NET CHANGE
Cash From Operating Activities -670.8M -888.1M -328.4M
Cash From Investing Activities -5.300M -6.700M -2.900M
Cash From Financing Activities 603.4M 943.5M 403.7M
Net Change In Cash -72.70M 48.70M 72.40M
YoY Change -444.55% -32.73% -73.29%
FREE CASH FLOW
Cash From Operating Activities -$670.8M -$888.1M -$328.4M
Capital Expenditures -$5.300M -$6.700M -$2.900M
Free Cash Flow -$665.5M -$881.4M -$325.5M
YoY Change 83.54% 170.78% -82.21%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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270924000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1377262000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1377921000 USD
CY2016Q3 us-gaap Undistributed Earnings
UndistributedEarnings
36074000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
70139000 USD
CY2017Q3 us-gaap Undistributed Earnings
UndistributedEarnings
21410000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
18059000 USD
CY2016Q3 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
80793984 shares
us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
80741460 shares
CY2017Q3 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
82166852 shares
us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
81704815 shares
CY2016Q3 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
84464591 shares
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
82667049 shares
CY2017Q3 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
82166852 shares
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
81704815 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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