AI English summary of an SEC filing — figures as filed
KKR KKRThe company said it acquired the remaining minority interests in Global Atlantic held by third-party co-investors and Global Atlantic employees on January 2, 2024, in exchange for cash and securities exchangeable for KKR & Co. Inc. common stock.
Key points
AI summaryThe company said it acquired the remaining minority interests in Global Atlantic held by third-party co-investors and Global Atlantic employees on January 2, 2024, in exchange for cash and securities exchangeable for KKR & Co. Inc. common stock.
KKR said Global Atlantic was majority owned and controlled by KKR before the acquisition, and had been consolidated in KKR & Co. Inc.'s consolidated financial statements before the acquisition.
The company said that, assuming the acquisition had been completed as of December 31, 2023, Cash and Cash Equivalents for Asset Management (GAAP Basis) would have decreased by $2.6 billion and Stockholders' Equity (GAAP Basis) by $2.2 billion, while Noncontrolling Interests would have decreased by $0.4 billion.
The company said that, assuming the acquisition had been completed at the beginning of the year ended December 31, 2023, Net Income Attributable to KKR & Co. Inc. Common Stockholders (GAAP Basis) would have increased from $3.7 billion to $3.8 billion, and basic Net Income Attributable to KKR & Co. Inc. Per Share of Common Stock would have increased from $4.24 to $4.33.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Completion of Global Atlantic Minority Interest Acquisition
The company said it acquired the remaining minority interests in Global Atlantic held by third-party co-investors and Global Atlantic employees on January 2, 2024, in exchange for cash and securities exchangeable for KKR & Co. Inc. common stock.
Source · Based on the filing body and exhibits
Global Atlantic Was Consolidated Before the Acquisition
KKR said Global Atlantic was majority owned and controlled by KKR before the acquisition, and had been consolidated in KKR & Co. Inc.'s consolidated financial statements before the acquisition.
Source · Based on the filing body and exhibits
Pro Forma Effect on Financial Position as of December 31, 2023
The company said that, assuming the acquisition had been completed as of December 31, 2023, Cash and Cash Equivalents for Asset Management (GAAP Basis) would have decreased by $2.6 billion and Stockholders' Equity (GAAP Basis) by $2.2 billion, while Noncontrolling Interests would have decreased by $0.4 billion.
Source · Based on the filing body and exhibits
Pro Forma Effect on Net Income and Per Share Earnings for 2023
The company said that, assuming the acquisition had been completed at the beginning of the year ended December 31, 2023, Net Income Attributable to KKR & Co. Inc. Common Stockholders (GAAP Basis) would have increased from $3.7 billion to $3.8 billion, and basic Net Income Attributable to KKR & Co. Inc. Per Share of Common Stock would have increased from $4.24 to $4.33.
Source · Based on the filing body and exhibits
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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