2015 Q1 Form 10-Q Financial Statement

#000119312515179529 Filed on May 08, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $2.512B $1.527B
YoY Change 64.56% 22.48%
Cost Of Revenue $403.8M $237.3M
YoY Change 70.16% -1.08%
Gross Profit $2.109B $1.289B
YoY Change 63.53% 28.09%
Gross Profit Margin 83.93% 84.46%
Selling, General & Admin $707.4M $625.9M
YoY Change 13.02% 10.17%
% of Gross Profit 33.55% 48.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.80M $26.30M
YoY Change -5.7% 14.85%
% of Gross Profit 1.18% 2.04%
Operating Expenses $707.4M $625.9M
YoY Change 13.02% 10.17%
Operating Profit $1.401B $663.5M
YoY Change 111.17% 51.31%
Interest Expense $31.37M $24.67M
YoY Change 27.17% -8.85%
% of Operating Profit 2.24% 3.72%
Other Income/Expense, Net $93.56M $70.16M
YoY Change 33.35% 4.38%
Pretax Income $1.463B $709.0M
YoY Change 106.4% 48.14%
Income Tax $99.34M $54.10M
% Of Pretax Income 6.79% 7.63%
Net Earnings $629.4M $265.6M
YoY Change 136.98% 58.45%
Net Earnings / Revenue 25.05% 17.4%
Basic Earnings Per Share $1.01 $0.44
Diluted Earnings Per Share $1.00 $0.44
COMMON SHARES
Basic Shares Outstanding 625.3M shares 601.5M shares
Diluted Shares Outstanding 631.2M shares 605.7M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.105B $1.998B
YoY Change 55.41% -2.87%
Cash & Equivalents $1.135B $787.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.259B $2.065B
Other Receivables $1.146B $0.00
Total Short-Term Assets $5.510B $4.063B
YoY Change 35.61% 6.31%
LONG-TERM ASSETS
Property, Plant & Equipment $132.4M $131.7M
YoY Change 0.56% -6.88%
Goodwill $1.787B $1.787B
YoY Change 0.0% 4.92%
Intangibles
YoY Change
Long-Term Investments $3.145B $3.292B
YoY Change -4.46% 23.46%
Other Assets $1.241B $1.226B
YoY Change 1.22% -7.19%
Total Long-Term Assets $26.90B $25.97B
YoY Change 3.59% 7.49%
TOTAL ASSETS
Total Short-Term Assets $5.510B $4.063B
Total Long-Term Assets $26.90B $25.97B
Total Assets $32.41B $30.03B
YoY Change 7.92% 7.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.247B $1.419B
YoY Change -12.12% 2.31%
Accrued Expenses $2.433B $1.971B
YoY Change 23.44% 75.67%
Deferred Revenue
YoY Change
Short-Term Debt $87.00M $217.0M
YoY Change -59.91% 112.75%
Long-Term Debt Due $296.0M
YoY Change 38.97%
Total Short-Term Liabilities $5.227B $5.269B
YoY Change -0.8% 11.94%
LONG-TERM LIABILITIES
Long-Term Debt $9.063B $9.987B
YoY Change -9.25% -16.11%
Other Long-Term Liabilities $162.0M
YoY Change
Total Long-Term Liabilities $9.225B $9.987B
YoY Change -7.63% -16.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.227B $5.269B
Total Long-Term Liabilities $9.225B $9.987B
Total Liabilities $14.45B $15.26B
YoY Change -5.27% -8.16%
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 $7.459B $6.345B
YoY Change
Total Liabilities & Shareholders Equity $32.41B $30.03B
YoY Change 7.92% 7.33%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $629.4M $265.6M
YoY Change 136.98% 58.45%
Depreciation, Depletion And Amortization $24.80M $26.30M
YoY Change -5.7% 14.85%
Cash From Operating Activities $479.3M $980.3M
YoY Change -51.1% -11.23%
INVESTING ACTIVITIES
Capital Expenditures $3.275M $6.123M
YoY Change -46.51% -16.63%
Acquisitions
YoY Change
Other Investing Activities $5.800M $5.800M
YoY Change 0.0% -1.69%
Cash From Investing Activities $2.600M -$282.0K
YoY Change -1021.99% -81.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.410M $6.488M
YoY Change -62.85% 1391.49%
Cash From Financing Activities -758.9M -1.024B
YoY Change -25.92% 2.75%
NET CHANGE
Cash From Operating Activities 479.3M 980.3M
Cash From Investing Activities 2.600M -282.0K
Cash From Financing Activities -758.9M -1.024B
Net Change In Cash -277.0M -44.48M
YoY Change 522.74% -142.05%
FREE CASH FLOW
Cash From Operating Activities $479.3M $980.3M
Capital Expenditures $3.275M $6.123M
Free Cash Flow $476.0M $974.1M
YoY Change -51.13% -11.2%

Facts In Submission

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CY2015Q1 dei Document Type
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CY2015Q1 dei Entity Registrant Name
EntityRegistrantName
BLACKSTONE GROUP L.P.
CY2015Q1 dei Trading Symbol
TradingSymbol
BX
CY2015Q1 dei Entity Filer Category
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CY2015Q1 us-gaap Nature Of Operations
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<div> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:Times New Roman" size="2"><b>1.</b></font></td> <td align="left" valign="top"><font style="font-family:Times New Roman" size="2"><b>ORGANIZATION</b></font></td> </tr> </table> <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, real estate investment trusts (&#x201C;REITs&#x201D;), funds of hedge funds, hedge funds, credit-focused funds, collateralized loan obligation (&#x201C;CLO&#x201D;) vehicles, collateralized debt obligation (&#x201C;CDO&#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, capital markets 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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