2011 Q4 Form 10-K Financial Statement

#000119312513087702 Filed on March 01, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $915.1M -$124.1M $1.308B
YoY Change -11.02% -113.37% 239.28%
Cost Of Revenue $94.70M -$100.9M $145.8M
YoY Change -33.91% -178.04% 562.73%
Gross Profit $1.219B -$252.2M $959.8M
YoY Change 37.72% -131.57% 163.97%
Gross Profit Margin 133.21% 73.36%
Selling, General & Admin $760.7M $628.0M $824.8M
YoY Change -8.55% -19.97% -24.89%
% of Gross Profit 62.4% 85.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $82.80M $42.40M $41.60M
YoY Change 102.44% 3.67% 1.96%
% of Gross Profit 6.79% 4.33%
Operating Expenses $760.6M $628.0M $824.8M
YoY Change -8.56% -19.97% -24.89%
Operating Profit $458.4M -$880.2M $135.0M
YoY Change 760.04% -6342.55% -118.38%
Interest Expense $49.40M $13.79M $14.19M
YoY Change -66.02% -89.33% -85.47%
% of Operating Profit 10.78% 10.51%
Other Income/Expense, Net $662.0M -$329.4M -$74.65M
YoY Change
Pretax Income $705.7M -$994.4M $248.8M
YoY Change 255.32% -793.94% -139.06%
Income Tax $250.3M -$7.637M $64.20M
% Of Pretax Income 35.47% 25.8%
Net Earnings -$22.68M -$274.6M $86.24M
YoY Change 106.15% 518.39% -144.61%
Net Earnings / Revenue -2.48% 6.59%
Basic Earnings Per Share -$0.05 -$0.56 $0.18
Diluted Earnings Per Share -$0.05 -$0.56 $0.18
COMMON SHARES
Basic Shares Outstanding 487.2M shares 476.3M shares
Diluted Shares Outstanding 487.2M shares 483.6M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.480B $1.660B $1.431B
YoY Change 7.32% 17.9% 59.53%
Cash & Equivalents $754.7M $593.0M $434.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $406.0M $442.0M $529.0M
Other Receivables $861.0M $743.0M $756.0M
Total Short-Term Assets $2.747B $2.845B $2.716B
YoY Change 2.88% 14.26% 31.72%
LONG-TERM ASSETS
Property, Plant & Equipment $149.7M
YoY Change
Goodwill $1.704B
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.218B $15.04B $15.41B
YoY Change -81.75% 32.96% 46.78%
Other Assets $1.259B $1.468B $1.438B
YoY Change 1.37% 31.42% 32.41%
Total Long-Term Assets $19.16B $19.22B $19.62B
YoY Change 18.47% 26.05% 36.11%
TOTAL ASSETS
Total Short-Term Assets $2.747B $2.845B $2.716B
Total Long-Term Assets $19.16B $19.22B $19.62B
Total Assets $21.91B $22.07B $22.33B
YoY Change 16.26% 24.4% 35.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $829.0M $699.0M $736.0M
YoY Change 31.8% 12.02% 9.69%
Accrued Expenses $903.0M $1.035B $981.0M
YoY Change 9.85% 36.18% 70.61%
Deferred Revenue
YoY Change
Short-Term Debt $102.0M $211.0M $77.00M
YoY Change 61.9%
Long-Term Debt Due $144.0M $196.0M $75.00M
YoY Change 23.08% -25.76%
Total Short-Term Liabilities $3.789B $4.085B $3.750B
YoY Change 11.67% 21.98% 25.25%
LONG-TERM LIABILITIES
Long-Term Debt $8.868B $9.412B $9.300B
YoY Change 23.18% 39.73% 46.39%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $8.868B $9.412B $9.300B
YoY Change 23.18% 39.73% 46.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.789B $4.085B $3.750B
Total Long-Term Liabilities $8.868B $9.412B $9.300B
Total Liabilities $12.66B $17.94B $17.73B
YoY Change -12.6% 31.85% 40.31%
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 $4.671B $4.133B $4.606B
YoY Change
Total Liabilities & Shareholders Equity $21.91B $22.07B $22.33B
YoY Change 16.26% 24.4% 35.56%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income -$22.68M -$274.6M $86.24M
YoY Change 106.15% 518.39% -144.61%
Depreciation, Depletion And Amortization $82.80M $42.40M $41.60M
YoY Change 102.44% 3.67% 1.96%
Cash From Operating Activities $341.2M $385.7M -$68.80M
YoY Change -149.59% 33.32% -1192.06%
INVESTING ACTIVITIES
Capital Expenditures -$10.50M -$8.800M -$11.50M
YoY Change -55.51% -25.42% -2.54%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$500.0K -$23.20M
YoY Change -100.0% 25.0% 8.41%
Cash From Investing Activities -$10.50M -$9.300M -$34.70M
YoY Change -55.7% -23.77% 4.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -168.8M -218.3M 82.50M
YoY Change -164.97% -185.04% -188.05%
NET CHANGE
Cash From Operating Activities 341.2M 385.7M -68.80M
Cash From Investing Activities -10.50M -9.300M -34.70M
Cash From Financing Activities -168.8M -218.3M 82.50M
Net Change In Cash 161.9M 158.1M -21.00M
YoY Change -135.83% -70.38% -82.59%
FREE CASH FLOW
Cash From Operating Activities $341.2M $385.7M -$68.80M
Capital Expenditures -$10.50M -$8.800M -$11.50M
Free Cash Flow $351.7M $394.5M -$57.30M
YoY Change -152.93% 31.02% -416.57%

Facts In Submission

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CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2012Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
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CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2012Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
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CY2012Q4 us-gaap Derivative Fair Value Of Derivative Asset
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CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Total Share Based Liabilities Paid
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CY2012Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2011Q4 bx Primarily Interest Bearing Advances Made On Behalf Of Certain Non Controlling Interest Holders And Company Employees For Investments In Company Funds
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CY2011Q4 bx Variable Interest Entity Consolidated Carrying Amount Due From Affiliates
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CY2011Q4 bx Variable Interest Entity Consolidated Carrying Amount Due To Affiliates
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CY2011Q4 bx Due To Noteholders Of Consolidated Clo Vehicles
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CY2011Q4 bx Performance Fees Receivable
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CY2011Q4 bx Accounts Payable For Unsettled Purchases
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CY2012Q1 us-gaap Business Acquisition Purchase Price Allocation Current Assets Receivables
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CY2012Q1 us-gaap Business Acquisition Purchase Price Allocation Current Assets Cash And Cash Equivalents
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CY2012Q1 us-gaap Business Acquisition Purchase Price Allocation Current Assets Prepaid Expense And Other Assets
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CY2011Q4 bx Equity Method Investment Summarized Financial Information Investments
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CY2011Q4 bx Equity Securities Fair Value
EquitySecuritiesFairValue
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CY2011Q4 bx Credit Available
CreditAvailable
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CY2011Q4 bx Debt Instruments Fair Value
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CY2011Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2011Q4 us-gaap Pledged Assets Separately Reported Securities Pledged As Collateral At Fair Value
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CY2011Q4 us-gaap Derivative Liability Notional Amount
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CY2011Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2011Q4 us-gaap Property Plant And Equipment Net
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CY2011Q4 us-gaap Loans Payable
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CY2011Q4 us-gaap Limited Partners Capital Account
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CY2011Q4 bx Deferred Tax Liabilities Depreciation And Amortization
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CY2012Q4 us-gaap Pledged Assets Separately Reported Securities Pledged As Collateral At Fair Value
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CY2012Q1 us-gaap Business Acquisition Purchase Price Allocation Assets Acquired Liabilities Assumed Net
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CY2012Q1 us-gaap Business Acquisition Purchase Price Allocation Current Liabilities
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CY2012Q1 us-gaap Business Acquisition Cost Of Acquired Entity Cash Paid
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CY2012Q1 us-gaap Business Acquisition Cost Of Acquired Entity Cash Paid
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CY2012Q1 us-gaap Business Acquisition Cost Of Acquired Entity Purchase Price
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CY2012Q1 us-gaap Business Acquisition Purchase Price Allocation Assets Acquired
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CY2012Q1 us-gaap Business Acquisition Purchase Price Allocation Amortizable Intangible Assets
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CY2012Q1 bx Business Acquisition Purchase Price Allocation Investments In Collateralized Loan Obligation
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CY2012Q4 us-gaap Limited Partners Capital Account Units Outstanding
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CY2011Q4 bx Deferred Tax Asset Depreciation And Amortization
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CY2012Q4 us-gaap Collateral Securities Repledged Delivered Or Used
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CY2011Q4 bx Distributions Received On Behalf Of Certain Non Controlling Interest Holders And Company Employees
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CY2011Q4 bx Distributions Received On Behalf Of Non Consolidated Entities
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CY2011Q4 bx Accrual For Potential Clawback Of Previously Distributed Interest
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CY2011Q4 bx Accounts Payable Accrued Liabilities And Other Liabilities For Redemption To Investors
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CY2011Q4 bx Assets Of Consolidated Clo Vehicles Other Fair Value Disclosure
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CY2011Q4 bx Assets Of Consolidated Clo Vehicles Corporate Bonds Fair Value Disclosure
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CY2011Q4 bx Assets Of Consolidated Clo Vehicles Corporate Loans Fair Value Disclosure
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CY2011Q4 bx Deferred Tax Assets Fund Management Fees
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CY2011Q4 bx Deferred Tax Liabilities Unrealized Gains From Investments
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CY2011Q4 bx Due To Certain Non Controlling Interest Holders In Connection With Tax Receivable Agreements
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CY2011Q4 bx Equity Method Investment Summarized Financial Information Debt
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CY2011Q4 bx Equity Method Investment Summarized Financial Information Other Assets
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CY2011Q4 bx Fair Value Of Financial Instruments More Than One Day Past Due
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CY2011Q4 bx Fair Value Of Senior Secured Notes
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CY2011Q4 bx Fair Value Of Senior Secured Notes Due To Affiliates
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CY2011Q4 bx Fair Value Of Subordinated Notes
FairValueOfSubordinatedNotes
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CY2011Q4 bx Fair Value Of Subordinated Notes Due To Affiliates
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CY2011Q4 bx Fair Value Of Clo Assets
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CY2011Q4 bx Freestanding Derivatives Foreign Currency Contracts
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CY2011Q4 bx Freestanding Derivatives Interest Rate Contracts
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CY2012Q4 us-gaap Securities For Reverse Repurchase Agreements
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CY2012Q4 us-gaap Goodwill
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CY2011Q4 bx Assets Of Consolidated Clo Vehicles Freestanding Derivatives Fair Value Disclosure
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CY2011Q4 bx Investment Funds Fair Value
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CY2011Q4 bx Investments Redeemed In Non Consolidated Funds Of Funds
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CY2011Q4 bx Investments In Performance Fees
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CY2011Q4 bx Investment By Founder Senior Managing Directors And Employees
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CY2011Q4 bx Investments In Treasury Cash Management Strategies
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CY2011Q4 bx Investments Consolidated Funds
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CY2011Q4 bx Leases With Security
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CY2011Q4 bx Liabilities Of Consolidated Clo Vehicles Freestanding Derivatives Fair Value Disclosure
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CY2011Q4 bx Cash Held By Funds And Other
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CY2011Q4 bx Clawback Obligations
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CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2012Q4 us-gaap Advances To Affiliate
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CY2012Q4 us-gaap Equity Method Investments
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CY2012Q4 us-gaap Property Plant And Equipment Gross
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CY2012Q4 us-gaap Deferred Tax Assets Net
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CY2011Q4 bx Liabilities Of Consolidated Clo Vehicles Subordinated Notes Fair Value Disclosures
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CY2011Q4 bx Liabilities Of Consolidated Clo Vehicles Senior Secured Notes Fair Value Disclosures
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CY2011Q4 bx Loans And Receivables Fair Value
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CY2011Q4 bx Loans And Bonds Contractual Payment Past Due Number Days
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CY2011Q4 bx Management And Performance Fees Due From Non Consolidated Funds Of Funds
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CY2011Q4 bx Money Market Funds Fair Value
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CY2011Q4 bx Senior Secured Notes Due To Nonconsolidated Affiliates
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CY2012Q4 us-gaap Derivative Fair Value Of Derivative Liability
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CY2012Q4 us-gaap Other Investments
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CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2012Q4 us-gaap Fair Value Concentration Of Risk Investments
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CY2012Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
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CY2010 us-gaap Net Cash Provided By Used In Financing Activities
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CY2010 us-gaap Payments To Minority Shareholders
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CY2012Q4 bx Assets Of Consolidated Clo Vehicles Corporate Loans Fair Value Disclosure
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CY2012Q4 bx Assets Of Consolidated Clo Vehicles Freestanding Derivatives Fair Value Disclosure
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CY2012Q4 bx Investment Funds Fair Value
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CY2012Q4 bx Investments Redeemed In Non Consolidated Funds Of Funds
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CY2012Q4 bx Investments In Performance Fees
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CY2012Q4 bx Investment By Founder Senior Managing Directors And Employees
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CY2010 us-gaap Increase Decrease In Accrued Salaries
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CY2010 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2012Q4 bx Subordinated Notes Due To Nonconsolidated Affiliates
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CY2012Q4 bx Total Financial Assets Fair Value
TotalFinancialAssetsFairValue
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CY2012Q4 bx Total Outstanding Unvested Phantom Units
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CY2012Q4 bx Total Financial Liabilities Fair Value
TotalFinancialLiabilitiesFairValue
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CY2012Q4 bx Uncollected Principal Balance On Financial Instruments That Exceeded Fair Value Total
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CY2012Q4 bx Uncollected Principal Balance On Financial Instruments That Exceeds Fair Value More Than One Day Past Due
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CY2012Q4 bx Equity Method Investment Summarized Financial Information Other Liabilities
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CY2010 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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CY2012Q4 bx Equity Method Investment Summarized Financial Information Partners Capital
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CY2012Q4 bx Equity Method Investment Summarized Financial Information Total Assets
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CY2012Q4 bx Equity Method Investment Summarized Financial Information Total Liabilities
EquityMethodInvestmentSummarizedFinancialInformationTotalLiabilities
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CY2012Q4 bx Equity Method Investment Summarized Financial Information Total Liabilities And Partners Capital
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CY2012Q4 bx Units Expected To Vest For Partnership Units
UnitsExpectedToVestForPartnershipUnits
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CY2012Q4 bx Units Expected To Vest For Phantom Units
UnitsExpectedToVestForPhantomUnits
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CY2012Q4 bx Units Expected To Vest For Total Equity Based Awards
UnitsExpectedToVestForTotalEquityBasedAwards
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CY2012Q4 bx Units Expected To Vest Deferred Restricted Common Units And Options
UnitsExpectedToVestDeferredRestrictedCommonUnitsAndOptions
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CY2012Q4 bx Vie Carrying Amount Of Investments Unconsolidated Vie
VieCarryingAmountOfInvestmentsUnconsolidatedVie
364709000
CY2012Q4 bx Vie Carrying Amount Of Receivables Unconsolidated Vie
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CY2012Q4 bx Non Controlling Interest In Partnerships
NonControllingInterestInPartnerships
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CY2012Q4 bx Non Controlling Interests In Consolidated Entities
NonControllingInterestsInConsolidatedEntities
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CY2012Q4 bx Partnership And Llc Interests Total Fair Value
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CY2012Q4 bx Payable To Affiliates For Consolidated Funds In Liquidation
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CY2012Q4 bx Payments Made By Non Consolidated Entities
PaymentsMadeByNonConsolidatedEntities
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CY2012Q4 bx Payments Made On Behalf Of Non Consolidated Entities
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CY2012Q4 bx Potential Clawback Obligation Of Non Consolidated Vie
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CY2012Q4 bx Primarily Interest Bearing Advances Made On Behalf Of Certain Non Controlling Interest Holders And Company Employees For Investments In Company Funds
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CY2012Q4 bx Amortization Of Hedged Gain Loss Remaining Period End Date
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CY2012Q4 bx Variable Interest Entity Consolidated Carrying Amount Due From Affiliates
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CY2012Q4 bx Variable Interest Entity Consolidated Carrying Amount Due To Affiliates
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CY2012Q4 bx Due To Noteholders Of Consolidated Clo Vehicles
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CY2012Q4 bx Due To Certain Noncontrolling Interest Holders
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CY2012Q4 bx Performance Fees Receivable
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CY2012Q4 bx Notes Acquired Not Retired
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CY2012Q4 bx Accounts Payable For Unsettled Purchases
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CY2012Q4 bx Deferred Tax Asset Unrealized Gains From Investments
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CY2010 us-gaap Costs And Expenses
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CY2010 us-gaap Increase Decrease In Financial Instruments Used In Operating Activities
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CY2010 us-gaap Change In Unrealized Gain Loss On Hedged Item In Fair Value Hedge
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CY2010 us-gaap Payments To Acquire Investments
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CY2010 us-gaap Other Noncash Income Expense
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CY2010 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2010 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2010 us-gaap Increase Decrease In Other Financial Instruments Used In Operating Activities
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CY2010 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2010 us-gaap Repayments Of Long Term Debt
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CY2010 us-gaap Partners Capital Account Contributions
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CY2010 us-gaap Other Nonoperating Income Expense
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CY2012Q4 bx Freestanding Derivatives Interest Rate Contracts
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CY2012Q4 bx Accrual For Potential Clawback Of Previously Distributed Interest
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CY2012Q4 bx Accounts Payable Accrued Liabilities And Other Liabilities For Redemption To Investors
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CY2012Q4 bx Fair Value Of Subordinated Notes
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CY2012Q4 bx Fair Value Of Subordinated Notes Due To Affiliates
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CY2012Q4 bx Fair Value Of Clo Assets
FairValueOfCLOAssets
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CY2012Q4 bx Freestanding Derivatives Foreign Currency Contracts
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CY2012Q4 bx Investments In Treasury Cash Management Strategies
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CY2012Q4 bx Investments Consolidated Funds
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CY2012Q4 bx Leases With Security
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CY2010 us-gaap Increase Decrease Due From Affiliates
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CY2010 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2012Q4 bx Liabilities Of Consolidated Clo Vehicles Freestanding Derivatives Fair Value Disclosure
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CY2012Q4 bx Cash Held By Funds And Other
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CY2012Q4 bx Clawback Obligations
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CY2012Q4 bx Liabilities Of Consolidated Clo Vehicles Subordinated Notes Fair Value Disclosures
LiabilitiesOfConsolidatedCloVehiclesSubordinatedNotesFairValueDisclosures
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CY2012Q4 bx Liabilities Of Consolidated Clo Vehicles Senior Secured Notes Fair Value Disclosures
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CY2012Q4 bx Loans And Receivables Fair Value
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CY2012Q4 bx Loans Held By Employees For Investment Guaranteed
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CY2012Q4 bx Loans And Bonds Contractual Payment Past Due Number Days
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CY2012Q4 bx Management And Performance Fees Due From Non Consolidated Funds Of Funds
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CY2012Q4 bx Net Assets As Fair Value
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CY2012Q4 bx After Tax Net Present Value Estimated Payments For Tax Receivable Agreements
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364600000
CY2012Q4 bx After Tax Net Present Value Discount Rate Assumption For Tax Receivable Agreements
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CY2012Q4 bx Money Market Funds Fair Value
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CY2012Q4 bx Consolidated Entities Net Assets Restricted As To Payment Of Cash Dividends And Advances To Partnership
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CY2010 us-gaap Comprehensive Income Net Of Tax
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CY2010 us-gaap Proceeds From Sale And Maturity Of Other Investments
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CY2010 us-gaap Other Income
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CY2010 us-gaap Share Based Compensation
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CY2010 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2010 us-gaap Earnings Per Share Diluted
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CY2010 us-gaap Performance Fees
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CY2010 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2010 us-gaap Profit Loss
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CY2010 us-gaap Earnings Per Share Basic And Diluted
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CY2010 us-gaap Common Stock Dividends Per Share Declared
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CY2010 us-gaap Partners Capital Account Redemptions
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CY2010 us-gaap Current Federal Tax Expense Benefit
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CY2010 us-gaap Gain Loss On Sale Of Derivatives
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CY2010 us-gaap Effective Income Tax Rate Continuing Operations
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CY2010 us-gaap Net Cash Provided By Used In Operating Activities
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CY2010 us-gaap Net Cash Provided By Used In Investing Activities
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CY2010 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
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CY2010 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2010 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2010 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
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CY2010 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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CY2010 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2010 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2012Q4 bx Fair Value Of Senior Secured Notes Due To Affiliates
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CY2010 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2010 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
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CY2010 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
20802000
CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2010 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
252113000
CY2010 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
87651000
CY2010 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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<div> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b>1.&#xA0;&#xA0;&#xA0;&#xA0;ORGANIZATION</b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The Blackstone Group L.P., together with its subsidiaries, (&#x201C;Blackstone&#x201D; or the &#x201C;Partnership&#x201D;) is a leading global manager of private capital and provider of financial advisory services. The alternative asset management business includes the management of private equity funds, real estate funds, funds of hedge funds, credit-focused funds, collateralized loan obligation (&#x201C;CLO&#x201D;) vehicles, separately managed accounts, and registered investment companies (collectively referred to as the &#x201C;Blackstone Funds&#x201D;). Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Blackstone&#x2019;s business is organized into five segments: private equity, real estate, hedge fund solutions, credit and financial advisory.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The Partnership was formed as a Delaware limited partnership on March&#xA0;12, 2007. The Partnership is managed and operated by its general partner, Blackstone Group Management L.L.C., which is in turn wholly-owned and controlled by one of Blackstone&#x2019;s founders, Stephen A. Schwarzman (the &#x201C;Founder&#x201D;), and Blackstone&#x2019;s other senior managing directors. The activities of the Partnership are conducted through its holding partnerships: Blackstone Holdings&#xA0;I&#xA0;L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P. and Blackstone Holdings IV L.P. (collectively, &#x201C;Blackstone Holdings&#x201D;, &#x201C;Blackstone Holdings Partnerships&#x201D; or the &#x201C;Holding Partnerships&#x201D;). The Partnership, through its wholly-owned subsidiaries, is the sole general partner in each of these Holding Partnerships.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">Generally, holders of the limited partner interests in the four Holding Partnerships may, four times each year, exchange their limited partnership interests (&#x201C;Partnership Units&#x201D;) for Blackstone Common Units, on a one-to-one basis, exchanging one Partnership Unit in each of the four Holding Partnerships for one Blackstone Common Unit.</font></p> </div>
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<div> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The following table summarizes the fair value transfers between Level I and Level II for positions that exist as of December&#xA0;31, 2012:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="68%" align="center"> <tr> <td width="71%"></td> <td valign="bottom" width="21%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Year Ended<br /> &#xA0;&#xA0;December&#xA0;31,&#xA0;2012&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Transfers from Level I into Level II (a)</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">15,928</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Transfers from Level II into Level I (b)</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">588</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> </table> <p style="BORDER-BOTTOM: #000000 0.5pt solid; LINE-HEIGHT: 8px; MARGIN-TOP: 0px; WIDTH: 10%; MARGIN-BOTTOM: 2px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(a)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Transfers out of Level I represent those financial instruments for which restrictions exist and adjustments were made to an otherwise observable price to reflect fair value at the reporting date.</font></td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(b)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Transfers into Level I represent those financial instruments for which an unadjusted quoted price in an active market became available for the identical asset.</font></td> </tr> </table> </div>
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CashSavingInTaxReceivableAgreements
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CY2012 bx Change Of Parent Ownership Interest
ChangeOfParentOwnershipInterest
-2423000
CY2012 bx Number Of Times Holders Of Interest Can Exchange Their Limited Partnership Interest Per Year
NumberOfTimesHoldersOfInterestCanExchangeTheirLimitedPartnershipInterestPerYear
4 Times
CY2012 bx Number Of Company Founders Managing Partnership
NumberOfCompanyFoundersManagingPartnership
1 Person
CY2012 bx Partners Capital Account Period Increase Decrease Exchange Of Founders And Senior Managing Directors Interests In Partnership Holdings
PartnersCapitalAccountPeriodIncreaseDecreaseExchangeOfFoundersAndSeniorManagingDirectorsInterestsInPartnershipHoldings
57356000
CY2012 bx Limited Partnership To Common Stock Conversion Ratio
LimitedPartnershipToCommonStockConversionRatio
1 pure
CY2012 bx Interest From Loans To Affiliates
InterestFromLoansToAffiliates
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CY2012 bx Management And Advisory Fees From Affiliates
ManagementAndAdvisoryFeesFromAffiliates
254729000
CY2012 bx Net Activities Related To Capital Transactions Of Consolidated Funds
NetActivitiesRelatedToCapitalTransactionsOfConsolidatedFunds
-5409000
CY2012 bx Net Assets Related To Consolidation Of Clo Vehicles
NetAssetsRelatedToConsolidationOfCloVehicles
233541000
CY2012 bx Maximum Percentage Of Aggregate Principal Amount Of Outstanding Notes
MaximumPercentageOfAggregatePrincipalAmountOfOutstandingNotes
0.25 pure
CY2012 bx Changes In Unrealized Gains Losses On Investments Allocable To Parent And Funds Related
ChangesInUnrealizedGainsLossesOnInvestmentsAllocableToParentAndFundsRelated
181481000
CY2012 bx Comprehensive Income Attributable To Non Controlling Interests In Partnerships
ComprehensiveIncomeAttributableToNonControllingInterestsInPartnerships
407727000
CY2012 bx Comprehensive Income Attributable To Redeemable Non Controlling Interests In Consolidated Entities
ComprehensiveIncomeAttributableToRedeemableNonControllingInterestsInConsolidatedEntities
103598000
CY2012 bx Comprehensive Income Attributable To Non Controlling Interest In Consolidated Entities
ComprehensiveIncomeAttributableToNonControllingInterestInConsolidatedEntities
101606000
CY2012 bx Contingent Obligations Currently Anticipated To Expire End
ContingentObligationsCurrentlyAnticipatedToExpireEnd
2018
CY2012 bx Segment Reconciliation Amortization Of Intangible Assets
SegmentReconciliationAmortizationOfIntangibleAssets
150148000
CY2012 bx Segment Reconciliation Net Income Loss Attributable To Noncontrolling Interest
SegmentReconciliationNetIncomeLossAttributableToNoncontrollingInterest
-203557000
CY2012 bx Securities Sold Not Yet Purchased
SecuritiesSoldNotYetPurchased
-88474000
CY2012 bx Tax Loss Carry Forwards Expire Tax Years
TaxLossCarryForwardsExpireTaxYears
2031
CY2012 bx Total Consolidation Adjustments And Reconciling Items For Economic Net Income To Income Loss Before Provision For Taxes
TotalConsolidationAdjustmentsAndReconcilingItemsForEconomicNetIncomeToIncomeLossBeforeProvisionForTaxes
1026102000
CY2012 bx Total Realized Gains Losses And Net Change In Unrealized Gains Losses Held By Consolidated Funds
TotalRealizedGainsLossesAndNetChangeInUnrealizedGainsLossesHeldByConsolidatedFunds
55100000
CY2012 bx Transactional Other Income
TransactionalOtherIncome
-28353000
CY2012 bx Total Consolidation Adjustments And Reconciling Items
TotalConsolidationAdjustmentsAndReconcilingItems
256145000
CY2012 bx Transfer Of Interests To Non Controlling Interest Holders
TransferOfInterestsToNonControllingInterestHolders
-4584000
CY2012 bx Equity Method Investment Summarized Financial Information Net Realized And Unrealized Gain Loss From Investments
EquityMethodInvestmentSummarizedFinancialInformationNetRealizedAndUnrealizedGainLossFromInvestments
11057981000
CY2012 bx Equity Method Investment Summarized Financial Information Other Expenses
EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses
323804000
CY2012 bx Equity Method Investment Summarized Financial Information Other Income
EquityMethodInvestmentSummarizedFinancialInformationOtherIncome
428249000
CY2012 bx Unrealized Depreciation Appreciation On Investments Allocable To Non Controlling Interests In Consolidated Entities Funds Related
UnrealizedDepreciationAppreciationOnInvestmentsAllocableToNonControllingInterestsInConsolidatedEntitiesFundsRelated
397470000
CY2012 bx Weighted Average Unvested Deferred Restricted Common Units
WeightedAverageUnvestedDeferredRestrictedCommonUnits
4965464 shares
CY2012 bx Net Delivery Of Vested Common Units And Repurchase Of Common And Partnership Unit
NetDeliveryOfVestedCommonUnitsAndRepurchaseOfCommonAndPartnershipUnit
22364000
CY2012 bx Net Realized Gains Losses On Investments Funds Related
NetRealizedGainsLossesOnInvestmentsFundsRelated
-710755000
CY2012 bx Non Cash Performance Fee Compensation
NonCashPerformanceFeeCompensation
513546000
CY2012 bx Net Settlement Of Vested Common Units
NetSettlementOfVestedCommonUnits
167046000
CY2012 bx Net Gains Losses From Fund Investment Activities Consolidated Funds
NetGainsLossesFromFundInvestmentActivitiesConsolidatedFunds
256145000
CY2012 bx Net Income Loss Attributable To Non Controlling Interests In Partnerships
NetIncomeLossAttributableToNonControllingInterestsInPartnerships
-407727000
CY2012 bx Percentage Of Partnership Contribution In Professionals Pre Tax Annual Compensation
PercentageOfPartnershipContributionInProfessionalsPreTaxAnnualCompensation
0.02 pure
CY2012 bx Percentage Of Repurchase Of Notes On Principal Amount Of Notes
PercentageOfRepurchaseOfNotesOnPrincipalAmountOfNotes
1.01 pure
CY2012 bx Performance Fees Allocated As Result Of Changes In Fund Fair Values
PerformanceFeesAllocatedAsResultOfChangesInFundFairValues
-1468642000
CY2012 bx Predecessor Owners And Selected Advisors Received Units Under Reorganization
PredecessorOwnersAndSelectedAdvisorsReceivedUnitsUnderReorganization
827516625 shares
CY2012 bx Provision For Cash Clawback
ProvisionForCashClawback
419700000
CY2012 bx Proceeds From Loans Payable
ProceedsFromLoansPayable
17820000
CY2012 bx Repayment Of Loans Payable
RepaymentOfLoansPayable
898980000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
CY2012 bx Transfers From Level One To Level Two
TransfersFromLevelOneToLevelTwo
15928000
CY2012 bx Transfers From Level Two To Level One
TransfersFromLevelTwoToLevelOne
588000
CY2012 bx Deferred Restricted Common Units And Options Weighted Average Service Period
DeferredRestrictedCommonUnitsAndOptionsWeightedAverageServicePeriod
P2Y9M18D
CY2012 bx Partnership Units Weighted Average Service Period
PartnershipUnitsWeightedAverageServicePeriod
P2Y6M
CY2012 bx Total Equity Based Awards Weighted Average Service Period
TotalEquityBasedAwardsWeightedAverageServicePeriod
P2Y7M6D
CY2012 bx Phantom Units Weighted Average Service Period
PhantomUnitsWeightedAverageServicePeriod
P2Y4M24D
CY2012 bx Performance Fees Realized Carried Interest
PerformanceFeesRealizedCarriedInterest
327422000
CY2012 bx Performance Fees Unrealized Carried Interest
PerformanceFeesUnrealizedCarriedInterest
994190000
CY2012 bx Performance Fee Compensation Realized Carried Interest
PerformanceFeeCompensationRealizedCarriedInterest
96433000
CY2012 bx Performance Fee Compensation Unrealized Carried Interest
PerformanceFeeCompensationUnrealizedCarriedInterest
321599000
CY2012 bx Performance Fees Realized Incentive Fees
PerformanceFeesRealizedIncentiveFees
301801000
CY2012 bx Performance Fees Unrealized Incentive Fees
PerformanceFeesUnrealizedIncentiveFees
-30361000
CY2012 bx Performance Fee Compensation Realized Incentive Fees
PerformanceFeeCompensationRealizedIncentiveFees
140042000
CY2012 bx Performance Fee Compensation Unrealized Incentive Fees
PerformanceFeeCompensationUnrealizedIncentiveFees
-44528000
CY2012 bx Non Cash Contributions From Non Controlling Interest Holders
NonCashContributionsFromNonControllingInterestHolders
6803000
CY2012 bx Non Cash Distributions To Non Controlling Interest Holders
NonCashDistributionsToNonControllingInterestHolders
-6803000
CY2012 bx Cash And Cash Equivalent Maturity Period Maximum
CashAndCashEquivalentMaturityPeriodMaximum
P3M
CY2012 bx Fund Distributions
FundDistributions
579865000
CY2012 bx Economic Income
EconomicIncome
2041007000
CY2012 bx Net Assets Related To Consolidation Of Certain Fund Entities
NetAssetsRelatedToConsolidationOfCertainFundEntities
50224000
CY2011Q1 us-gaap Costs And Expenses
CostsAndExpenses
990864000
CY2011Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-45191000
CY2011Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2011Q1 us-gaap Profit Loss
ProfitLoss
78364000
CY2011Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.32
CY2011Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2011Q1 us-gaap Revenues
Revenues
1153269000
CY2011Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
117214000
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
42704000
CY2011Q2 us-gaap Costs And Expenses
CostsAndExpenses
984831000
CY2011Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-74654000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2011Q2 us-gaap Profit Loss
ProfitLoss
184597000
CY2011Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2011Q2 us-gaap Revenues
Revenues
1308281000
CY2011Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
248796000
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
86237000
CY2012Q1 us-gaap Costs And Expenses
CostsAndExpenses
783793000
CY2012Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
288142000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2012Q1 us-gaap Profit Loss
ProfitLoss
417632000
CY2012Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.22
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2012Q1 us-gaap Revenues
Revenues
952036000
CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
456385000
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
58325000
CY2012Q2 us-gaap Costs And Expenses
CostsAndExpenses
739819000
CY2012Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2012Q3 us-gaap Revenues
Revenues
1223089000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2012Q2 us-gaap Profit Loss
ProfitLoss
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CY2012Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2012Q2 us-gaap Revenues
Revenues
627203000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
135614000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-74964000
CY2011Q3 us-gaap Costs And Expenses
CostsAndExpenses
540934000
CY2011Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-329399000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.56
CY2011Q3 us-gaap Profit Loss
ProfitLoss
-986775000
CY2011Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.56
CY2011Q3 us-gaap Revenues
Revenues
-124079000
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-994412000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
-274567000
CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
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CY2012Q3 us-gaap Other Nonoperating Income Expense
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CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2012Q3 us-gaap Profit Loss
ProfitLoss
196502000
CY2012Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
235739000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
128824000
CY2011Q4 us-gaap Costs And Expenses
CostsAndExpenses
871440000
CY2011Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2011Q4 us-gaap Profit Loss
ProfitLoss
455361000
CY2011Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2011Q4 us-gaap Revenues
Revenues
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CY2011Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
705660000
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
-22677000
CY2011Q4 bx Payments Made Under Tax Receivable Agreements And Related Tax Benefits
PaymentsMadeUnderTaxReceivableAgreementsAndRelatedTaxBenefits
34200000
CY2011Q4 bx Reduction In Due To Pre Initial Public Offer Owners And Others Resulted From Change In Effective Tax Rate Of Corporate Tax Payers
ReductionInDueToPreInitialPublicOfferOwnersAndOthersResultedFromChangeInEffectiveTaxRateOfCorporateTaxPayers
197800000
CY2012Q4 us-gaap Costs And Expenses
CostsAndExpenses
885679000
CY2012Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-144267000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
CY2012Q4 us-gaap Profit Loss
ProfitLoss
121471000
CY2012Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
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EarningsPerShareBasic
0.19
CY2012Q4 us-gaap Revenues
Revenues
1217113000
CY2012Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
187167000
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
106413000

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