AI English summary of an SEC filing — figures as filed
Blackstone BXThe company said Revenues for 2023 were $8.0 billion, down $494.8 million from $8.5 billion in 2022. It cited a $1.0 billion decrease in Investment Income and a $367.9 million increase in Management and Advisory Fees, Net as the main items.
Key points
AI summaryThe company said Revenues for 2023 were $8.0 billion, down $494.8 million from $8.5 billion in 2022. It cited a $1.0 billion decrease in Investment Income and a $367.9 million increase in Management and Advisory Fees, Net as the main items.
Blackstone said Fee-Earning Assets Under Management were $762.6 billion as of December 31, 2023, up $44.2 billion from $718.4 billion as of December 31, 2022. Real Estate rose $16.9 billion, and Credit & Insurance rose $25.7 billion.
The company said its Provision for Taxes for 2023 was $513.5 million, an increase of $40.6 million, and its effective tax rate was 17.4% (2022: 13.7%). It cited an out-of-period adjustment recorded in December 2022 as a factor in the higher tax rate.
Blackstone increased its revolving credit facility from $4.135 billion to $4.325 billion and extended its maturity to December 15, 2028 on December 15, 2023. As of December 31, 2023, the company had Cash and Cash Equivalents of $3.0 billion and borrowings of $10.7 billion from bond issuances, with no borrowings under the revolving credit facility.
Key figures
Fiscal year ended December 31, 2023
- Revenue
- $8.0B
- Net income
- $1.4B
- EPS
- $1.84
- Operating cash flow
- $4.1B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Revenues of $8.0 billion in 2023, down $494.8 million Year over Year
The company said Revenues for 2023 were $8.0 billion, down $494.8 million from $8.5 billion in 2022. It cited a $1.0 billion decrease in Investment Income and a $367.9 million increase in Management and Advisory Fees, Net as the main items.
Source · Based on the MD&A text of the filing
Fee-Earning Assets Under Management at $762.6 billion, Up $44.2 billion
Blackstone said Fee-Earning Assets Under Management were $762.6 billion as of December 31, 2023, up $44.2 billion from $718.4 billion as of December 31, 2022. Real Estate rose $16.9 billion, and Credit & Insurance rose $25.7 billion.
Source · Based on the MD&A text of the filing
Effective Tax Rate of 17.4% in 2023, 13.7% in 2022
The company said its Provision for Taxes for 2023 was $513.5 million, an increase of $40.6 million, and its effective tax rate was 17.4% (2022: 13.7%). It cited an out-of-period adjustment recorded in December 2022 as a factor in the higher tax rate.
Source · Based on the MD&A text of the filing
Revolving Credit Facility at $4.325 billion, Maturity Extended to December 15, 2028
Blackstone increased its revolving credit facility from $4.135 billion to $4.325 billion and extended its maturity to December 15, 2028 on December 15, 2023. As of December 31, 2023, the company had Cash and Cash Equivalents of $3.0 billion and borrowings of $10.7 billion from bond issuances, with no borrowings under the revolving credit facility.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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