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Document and Entity Information
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3 Months Ended | |
|---|---|---|
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Mar. 31, 2013
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May 10, 2013
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| Entity Information [Line Items] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Mar. 31, 2013 | |
| Document Fiscal Year Focus | 2013 | |
| Document Fiscal Period Focus | Q1 | |
| Trading Symbol | CG | |
| Entity Registrant Name | Carlyle Group L.P. | |
| Entity Central Index Key | 0001527166 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Non-accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 46,109,886 |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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| X | ||||||||||
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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| X | ||||||||||
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Details
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| X | ||||||||||
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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| X | ||||||||||
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- Definition
Amount of realized performance fees, if the fund were liquidated at the reporting date fair value, that would be given back to the fund investors at the end of the fund's life if the fund fair value does not recover sufficiently to pass through the hurdle rate that allows for the recognition of performance fees. No definition available.
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| X | ||||||||||
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- Definition
Amounts represent performance fees that our existing, unrealized fund portfolio would generate if we sold every asset across all of our funds at fair value as of the end of the reporting period. No definition available.
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| X | ||||||||||
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- Definition
Cash and cash equivalents held at Consolidated Funds represents cash and cash equivalents held by consolidated Funds and other consolidated entities. Such amounts are not available to fund general liquidity needs of the business. No definition available.
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| X | ||||||||||
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- Definition
For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entities' consolidated funds and other consolidated entities by means of direct or indirect ownership. No definition available.
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| X | ||||||||||
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- Definition
Amount of partners' capital appropriated for consolidated funds and other consolidated entities. No definition available.
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all investments held at the Consolidated Funds and other consolidated entities. No definition available.
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| X | ||||||||||
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- Definition
Including the current and noncurrent portions, aggregate carrying value as of the balance sheet date of loans payable held at consolidated funds and other consolidated entities. No definition available.
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| X | ||||||||||
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- Definition
Total of all partners' capital which is attributable to Carlyle Holdings. No definition available.
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| X | ||||||||||
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- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred by Consolidate Funds and other consolidated entities through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. No definition available.
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| X | ||||||||||
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- Definition
Amounts represent restricted cash and securities held by consolidated funds and other consolidated entities. Such amounts are not available to fund general liquidity needs of the business. No definition available.
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of notes due 2023 with the highest claim on the assets of the issuer in case of bankruptcy or liquidation. Senior note holders are paid off in full before any payments are made to junior note holders. No definition available.
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of notes due 2043 with the highest claim on the assets of the issuer in case of bankruptcy or liquidation. Senior note holders are paid off in full before any payments are made to junior note holders. No definition available.
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| X | ||||||||||
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- Definition
Temporary equity partners capital. No definition available.
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| X | ||||||||||
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- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences net of deferred tax asset attributable to deductible temporary differences and carryforwards after valuation allowances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. No definition available.
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Including the current and noncurrent portions, aggregate carrying value as of the balance sheet date of loans payable (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate fair value as of the reporting date of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Balance Sheets (Parenthetical)
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Mar. 31, 2013
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Dec. 31, 2012
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|---|---|---|
| Common stock, units issued | 43,244,180 | 43,244,180 |
| Common stock, units outstanding | 43,244,180 | 43,244,180 |
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3.875% senior notes due 2023 [Member]
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| Senior notes percentage | 3.875% | |
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5.625% senior notes due 2043 [Member]
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| Senior notes percentage | 5.625% |
| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Interest and other expenses relating to and incurred by the Consolidated Funds and other consolidated entities. No definition available.
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| X | ||||||||||
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- Definition
Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein held by Consolidated Funds and other consolidated entities. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Net income (loss) attributable to noncontrolling interest in subsidiary. No definition available.
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| X | ||||||||||
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- Definition
Net income loss in subsidiary. No definition available.
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| X | ||||||||||
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- Definition
Net Gains (Losses) from Consolidated Funds and other consolidated entities' investment activities. No definition available.
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| X | ||||||||||
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- Definition
Compensation of our investment professionals related to realized performance fees. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Fees received from a carry fund that had a distribution event. No definition available.
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| X | ||||||||||
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- Definition
Fees earned from a carry fund that we would be eligible to receive upon a hypothetical liquidation of the fund at fair value. No definition available.
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| X | ||||||||||
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- Definition
Compensation of our investment professionals related to unrealized performance fees. No definition available.
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| X | ||||||||||
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- Definition
Investment income (loss) realized represents the gains and losses on the partnership's principal investments, including its investments in funds that are not consolidated, its equity method investments, and other principal investments. Investment income (loss) is realized when the partnership redeems all or a portion of its investment or when the partnership receives cash income, such as dividends or distributions, from its non-consolidated funds. No definition available.
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| X | ||||||||||
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- Definition
Investment Income (Loss) Unrealized represents the unrealized gains and losses on the Partnership's principal investments, including its investments in Funds that are not consolidated, its equity method investments, and other principal investments. Unrealized Investment Income (Loss) results from changes in the fair value of the underlying investment as well as the reversal of unrealized gain (loss) at the time an investment is realized. No definition available.
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| X | ||||||||||
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Fees earned for providing investment advice and research to customers. Such services may include the investment management of mutual funds and separate accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of revenues earned by the entity based on the investment results achieved, including, but not limited to, revenues related to management of investment fund assets. Excludes fees based upon a percentage of the assets under management, which are not performance-related fees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Expenditures for salaries other than officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Comprehensive income attributable to Carlyle Holdings. No definition available.
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| X | ||||||||||
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- Definition
Comprehensive income net of tax attributable to noncontrolling interest in subsidiary. No definition available.
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| X | ||||||||||
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- Definition
Less: comprehensive (income) loss attributable to equity appropriated for Consolidated Funds. No definition available.
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| X | ||||||||||
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- Definition
Comprehensive (income) loss attributable to redeemable non-controlling interests in consolidated entities. No definition available.
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| X | ||||||||||
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- Definition
Other Comprehensive Income Loss Reclassification Pension and Other Postretirement Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Net of Tax No definition available.
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| X | ||||||||||
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Net of tax and reclassification adjustments of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Net of tax and reclassifications amount of pension and other postretirement benefit plans (gain) loss included in accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax amount of the income statement impact of the reclassification adjustment of accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges realized in net income. Also includes reclassification adjustments of an entity's share of an equity investee's deferred hedging gain (loss) realized in net income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax amount, before reclassification adjustments, of the change in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Also includes an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Change in due to/from affiliates and other receivables of consolidated funds. No definition available.
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| X | ||||||||||
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- Definition
Change in due to/from affiliates financing activities. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The cash flow associated with distributions to predecessor owners. No definition available.
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| X | ||||||||||
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- Definition
Change in other receivables held at Consolidated Funds. No definition available.
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| X | ||||||||||
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- Definition
Change in other liabilities held at consolidated funds. No definition available.
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| X | ||||||||||
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- Definition
Change in other receivables held at consolidated funds. No definition available.
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| X | ||||||||||
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- Definition
Net assets related to consolidation of the CLOs. No definition available.
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| X | ||||||||||
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- Definition
Non-cash contributions from non-controlling interest holders. No definition available.
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| X | ||||||||||
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- Definition
Non-cash distributions to non-controlling interest holders. No definition available.
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| X | ||||||||||
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- Definition
Non-cash distributions to predecessor owners. No definition available.
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| X | ||||||||||
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- Definition
Non-cash interest income, net. No definition available.
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| X | ||||||||||
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- Definition
Non-cash performance fees. No definition available.
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| X | ||||||||||
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- Definition
Payment Of Contingent Consideration No definition available.
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| X | ||||||||||
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- Definition
The cash flow associated with contributions from predecessor owners. No definition available.
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| X | ||||||||||
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- Definition
Proceeds from sale and settlements of investments by consolidated funds. No definition available.
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| X | ||||||||||
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- Definition
Purchases of investments by consolidated funds. No definition available.
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| X | ||||||||||
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- Definition
Realized/unrealized loss from loans payable of Consolidated Funds No definition available.
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| X | ||||||||||
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- Definition
Realized/unrealized gain on investments of Consolidated Funds No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Net payments on loans payable of consolidated funds. No definition available.
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| X | ||||||||||
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- Definition
Senior notes due 2023 issued during the period. No definition available.
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| X | ||||||||||
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- Definition
Senior notes due 2043 issued during the period. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Transfer of Partners Capital to non-controlling interests in consolidated entities. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The increase (decrease) during the period in accrued salaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in moneys or securities given as security including, but not limited to, contract, escrow, or earnest money deposits, retainage (if applicable), deposits with clearing organizations and others, collateral, or margin deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Other expenses or losses included in net income that result in no cash outflows or inflows in the period and are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Other income or gains included in net income that result in no cash inflows or outflows in the period and are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Cash paid to purchase debt and equity securities, classified as operating activities, during the period; includes trading securities and any other investments classified as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Cash outflow in the form of ordinary dividends to common shareholders, generally out of earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow to return capital to noncontrolled interest, which generally occurs when noncontrolling shareholders reduce their ownership stake (in a subsidiary of the entity). This element does not include dividends paid to noncontrolling shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow contributed by noncontrolled interest that purchase additional shares or otherwise increase their ownership stake in a subsidiary of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash inflow associated with the sale and maturity (principal being due) of other investments, prepayment and call (request of early payment) of other investments not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow for the settlement of obligation drawn from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Condensed Consolidated Statements of Cash Flows (Parenthetical)
|
Mar. 31, 2013
|
|---|---|
|
3.875% senior notes due 2023 [Member]
|
|
| Senior notes percentage | 3.875% |
|
5.625% senior notes due 2043 [Member]
|
|
| Senior notes percentage | 5.625% |
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Organization and Basis of Presentation
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3 Months Ended | ||
|---|---|---|---|
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Mar. 31, 2013
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| Organization and Basis of Presentation |
The Carlyle Group L.P., together with its consolidated subsidiaries, (the “Partnership” or “Carlyle”) is one of the world’s largest global alternative asset management firms that originates, structures and acts as lead equity investor in management-led buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, growth capital financings, real estate opportunities, bank loans, high-yield debt, distressed assets, mezzanine debt and other investment opportunities. The Partnership is a Delaware limited partnership formed on July 18, 2011. The Partnership is managed and operated by its general partner, Carlyle Group Management L.L.C., which is in turn wholly-owned and controlled by Carlyle’s founders and other senior Carlyle professionals. Carlyle provides investment management services to, and has transactions with, various private equity funds, real estate funds, collateralized loan obligations (“CLOs”), hedge funds and other investment products sponsored by the Partnership for the investment of client assets in the normal course of business. Carlyle serves as the general partner, investment manager or collateral manager, making day-to-day investment decisions concerning the assets of these products. Carlyle operates its business through four reportable segments: Corporate Private Equity, Global Market Strategies, Real Assets, and Solutions (see Note 17). Basis of Presentation The accompanying financial statements include (1) subsequent to the reorganization as described below, the accounts of the Partnership and (2) prior to the reorganization, the combined accounts of TC Group, L.L.C., TC Group Cayman, L.P., TC Group Investment Holdings, L.P. and TC Group Cayman Investment Holdings, L.P. as well as their majority-owned subsidiaries (collectively, “Carlyle Group”), which were engaged in the above businesses under common ownership and control by Carlyle’s individual partners (“senior Carlyle professionals”), the California Employees Public Retirement System (“CalPERS”), and Mubadala Development Company (“Mubadala”). In addition, certain Carlyle-affiliated funds, related co-investment entities, and certain CLOs managed by the Partnership (collectively the “Consolidated Funds”) have been consolidated in the accompanying financial statements pursuant to accounting principles generally accepted in the United States (“U.S. GAAP”), as described in Note 2. This consolidation generally has a gross-up effect on assets, liabilities and cash flows, and has no effect on the net income attributable to the Partnership. The majority economic ownership interests of the investors in the Consolidated Funds are reflected as non-controlling interests in consolidated entities, partners’ capital appropriated for Consolidated Funds, and redeemable non-controlling interests in consolidated entities in the accompanying condensed consolidated financial statements. Prior to the reorganization and initial public offering in May 2012, all compensation for services rendered by senior Carlyle professionals was reflected as distributions from partners’ capital rather than as compensation expense. Subsequent to the reorganization and initial public offering, all compensation attributable to senior Carlyle professionals is recognized as compensation expense, consistent with all other Carlyle employees. The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information. These statements, including notes, have not been audited, exclude some of the disclosures required for annual financial statements, and should be read in conjunction with the audited consolidated financial statements included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2012 filed with the Securities and Exchange Commission. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, which are necessary for the fair presentation of the financial condition and results of operations for the interim periods presented.
Reorganization and Initial Public Offering In May 2012, a series of reorganization transactions were executed to facilitate the acquisition by the Partnership of an indirect equity interest in Carlyle Group. As part of these reorganization transactions, the senior Carlyle professionals (excluding retired senior Carlyle professionals), CalPERS, and Mubadala contributed all of their interests in TC Group, L.L.C., TC Group Cayman, L.P., TC Group Investment Holdings, L.P. and TC Group Cayman Investment Holdings, L.P. (the “Former Parent Entities”) and senior Carlyle professionals and other individuals engaged in Carlyle’s business contributed a portion of the equity interests they owned in the general partners of Carlyle’s existing carry funds, to Carlyle Holdings I L.P., Carlyle Holdings II L.P. and Carlyle Holdings III L.P. (collectively, “Carlyle Holdings”) in exchange for Carlyle Holdings partnership units. After the completion of the reorganization transactions, Carlyle Group is a consolidated subsidiary of Carlyle Holdings. Carlyle Group is considered the predecessor of the Partnership for accounting purposes, and accordingly, Carlyle Group’s combined and consolidated financial statements are the Partnership’s historical financial statements. The historical combined and consolidated financial statements of Carlyle Group are reflected herein based on the historical ownership interests of the senior Carlyle professionals, CalPERS, and Mubadala in Carlyle Group. In May 2012, the Partnership completed an initial public offering of 30,500,000 common units priced at $22.00 per unit. The common units are listed on the NASDAQ Global Select Market under the symbol “CG”. The net proceeds to the Partnership from the initial public offering were approximately $615.8 million, after deducting underwriting discounts and offering expenses. The Partnership used all of the proceeds to purchase an equivalent number of newly issued Carlyle Holdings partnership units from Carlyle Holdings. As the sole general partner of Carlyle Holdings, the Partnership consolidates the financial position and results of operations of Carlyle Holdings into its financial statements, and the other ownership interests in Carlyle Holdings are reflected as non-controlling interests in the Partnership’s financial statements. For additional information on the reorganization and initial public offering, see Note 1 to the consolidated financial statements included in the Partnership’s 2012 Annual Report on Form 10-K. |
| X | ||||||||||
|
- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary of Significant Accounting Policies
|
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2013
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Significant Accounting Policies |
Principles of Consolidation The Partnership consolidates all entities that it controls through a majority voting interest or otherwise. In addition, the accompanying condensed consolidated financial statements consolidate: 1) Carlyle-affiliated funds and co-investment entities, for which the Partnership is the sole general partner and the presumption of control by the general partner has not been overcome and 2) variable interest entities (“VIE”s), including certain CLOs, for which the Partnership is deemed to be the primary beneficiary; consolidation of these entities is a requirement under U.S. GAAP. All significant inter-entity transactions and balances have been eliminated. For entities that are determined to be VIEs, the Partnership consolidates those entities where it is deemed to be the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity’s business and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The revised consolidation rules require an analysis to (a) determine whether an entity in which the Partnership holds a variable interest is a VIE and (b) whether the Partnership’s involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance related fees), would give it a controlling financial interest. In evaluating whether the Partnership is the primary beneficiary, the Partnership evaluates its economic interests in the entity held either directly or indirectly by the Partnership. The consolidation analysis is generally performed qualitatively. This analysis, which requires judgment, is performed at each reporting date.
In February 2010, Accounting Standards Update (“ASU”) No. 2010-10, “Amendments for Certain Investment Funds,” was issued. This ASU defers the application of the revised consolidation rules for a reporting enterprise’s interest in an entity if certain conditions are met, including if the entity has the attributes of an investment company and is not a securitization or asset-backed financing entity. An entity that qualifies for the deferral will continue to be assessed for consolidation under the overall guidance on VIEs, before its amendment, and other applicable consolidation guidance. As of March 31, 2013, assets and liabilities of consolidated VIEs reflected in the condensed consolidated balance sheets were $24.3 billion and $16.0 billion, respectively. Except to the extent of the assets of the VIEs which are consolidated, the holders of the consolidated VIEs’ liabilities do not have recourse to the Partnership. The assets and liabilities of the consolidated VIEs are comprised primarily of investments and loans payable, respectively. The loans payable issued by the CLOs are backed by diversified collateral asset portfolios consisting primarily of loans or structured debt. In exchange for managing the collateral for the CLOs, the Partnership earns investment management fees, including in some cases subordinated management fees and contingent incentive fees. In cases where the Partnership consolidates the CLOs, those management fees have been eliminated as intercompany transactions. As of March 31, 2013, the Partnership held $53.9 million of investments in these CLOs which represents its maximum risk of loss. The Partnership’s investments in these CLOs are generally subordinated to other interests in the entities and entitle the Partnership to receive a pro rata portion of the residual cash flows, if any, from the entities. Investors in the CLOs have no recourse against the Partnership for any losses sustained in the CLO structure. For all Carlyle-affiliated funds and co-investment entities (collectively “the Funds”) that are not determined to be VIEs, the Partnership consolidates those funds where, as the sole general partner, it has not overcome the presumption of control pursuant to U.S. GAAP. Most Carlyle funds provide a dissolution right upon a simple majority vote of the non-Carlyle affiliated limited partners such that the presumption of control by Carlyle is overcome. Accordingly, these funds are not consolidated in the Partnership’s condensed consolidated financial statements. Investments in Unconsolidated Variable Interest Entities The Partnership holds variable interests in certain VIEs which are not consolidated because the Partnership is not the primary beneficiary. The Partnership’s involvement with such entities is in the form of direct equity interests and fee arrangements. The maximum exposure to loss represents the loss of assets recognized by the Partnership relating to these unconsolidated entities. The assets recognized in the Partnership’s condensed consolidated balance sheets related to the Partnership’s interests in these non-consolidated VIEs and the Partnership’s maximum exposure to loss relating to non-consolidated VIEs were as follows:
Basis of Accounting The accompanying financial statements are prepared in accordance with U.S. GAAP. Management has determined that the Partnership’s Funds are investment companies under U.S. GAAP for the purposes of financial reporting. U.S. GAAP for an investment company requires investments to be recorded at estimated fair value and the unrealized gains and/or losses in an investment’s fair value are recognized on a current basis in the statements of operations. Additionally, the Funds do not consolidate their majority-owned and controlled investments (the Portfolio Companies). In the preparation of these condensed consolidated financial statements, the Partnership has retained the specialized accounting for the Funds, pursuant to U.S. GAAP. All of the investments held and notes issued by the Consolidated Funds are presented at their estimated fair values in the Partnership’s condensed consolidated balance sheets. Interest income and other income of the Consolidated Funds is included in interest and other income of Consolidated Funds and interest expense and other expenses of the Consolidated Funds is included in interest and other expenses of Consolidated Funds in the Partnership’s condensed consolidated statements of operations. The excess of the CLO assets over the CLO liabilities upon consolidation is reflected in the Partnership’s condensed consolidated balance sheets as partners’ capital appropriated for Consolidated Funds. Net income attributable to the investors in the CLOs is included in net income (loss) attributable to non-controlling interests in consolidated entities in the condensed consolidated statements of operations and partners’ capital appropriated for Consolidated Funds in the condensed consolidated balance sheets. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make assumptions and estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management’s estimates are based on historical experiences and other factors, including expectations of future events that management believes to be reasonable under the circumstances. It also requires management to exercise judgment in the process of applying the Partnership’s accounting policies. Assumptions and estimates regarding the valuation of investments and their resulting impact on performance fees involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the condensed consolidated financial statements and the resulting impact on performance fees. Actual results could differ from these estimates and such differences could be material. Business Combinations The Partnership accounts for business combinations using the acquisition method of accounting, under which the purchase price of the acquisition is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. Contingent consideration obligations that are elements of consideration transferred are recognized as of the acquisition date as part of the fair value transferred in exchange for the acquired business. Acquisition-related costs incurred in connection with a business combination are expensed. Revenue Recognition Fund Management Fees The Partnership provides management services to funds in which it holds a general partner interest or has a management agreement. For corporate private equity, certain global market strategies funds and real assets funds, management fees are calculated based on (a) limited partners’ capital commitments to the funds, (b) limited partners’ remaining capital invested in the funds at cost or (c) the net asset value (“NAV”) of certain of the funds, less offsets for the non-affiliated limited partners’ share of transaction advisory and portfolio fees earned, as defined in the respective partnership agreements. Management fees for corporate private equity, closed-end carry funds in the global market strategies segment and real assets funds generally range from 1% to 2% of commitments during the investment period of the relevant fund. Following the expiration or termination of the investment period of such funds, the management fees generally step-down to between 0.6% and 2.0% of contributions for unrealized investments. The Partnership will receive management fees for corporate private equity and real assets funds during a specified period of time, which is generally ten years from the initial closing date, or in some instances, from the final closing date, but such termination date may be earlier in certain limited circumstances or later if extended for successive one-year periods, typically up to a maximum of two years. Depending upon the contracted terms of investment advisory or investment management and related agreements, these fees are generally called semi-annually in advance and are recognized as earned over the subsequent six month period. For certain global market strategies funds, management fees are calculated based on assets under management of the funds with generally lower fee rates. Hedge funds typically pay management fees quarterly that generally range from 1.5% to 3.0% of NAV per year. Management fees for the CLOs typically range from 0.4% to 0.6% on the total par amount of assets in the fund and are due quarterly or semi-annually based on the terms and recognized over the respective period. Management fees for the CLOs and credit opportunities funds are governed by indentures and collateral management agreements. The Partnership will receive management fees for the CLOs until redemption of the securities issued by the CLOs, which is generally five to ten years after issuance. Open-ended funds typically do not have stated termination dates. Management fees from fund of funds vehicles generally range from 0.3% to 1.0% on the vehicle’s capital commitments during the commitment fee period of the relevant fund. Following the expiration of the commitment fee period of such funds, the management fees generally range from 0.3% to 1.0% on the lower of cost or fair value of the capital invested. These fees are due quarterly and recognized over the related quarter. The Partnership also provides transaction advisory and portfolio advisory services to the Portfolio Companies, and where covered by separate contractual agreements, recognizes fees for these services when the service has been provided and collection is reasonably assured. Fund management fees includes transaction and portfolio advisory fees of $15.0 million and $10.7 million for the three months ended March 31, 2013 and 2012, respectively, net of any offsets as defined in the respective partnership agreements. Performance Fees Performance fees consist principally of the allocation of profits from certain of the funds to which the Partnership is entitled (commonly known as carried interest). The Partnership is generally entitled to a 20% allocation (or approximately 2% to 10% in the case of most of the Partnership’s fund of funds vehicles) of the net realized income or gain as a carried interest after returning the invested capital, the allocation of preferred returns and return of certain fund costs (generally subject to catch-up provisions) from its corporate private equity and real assets funds. Carried interest is recognized upon appreciation of the funds’ investment values above certain return hurdles set forth in each respective partnership agreement. The Partnership recognizes revenues attributable to performance fees based upon the amount that would be due pursuant to the fund partnership agreement at each period end as if the funds were terminated at that date. Accordingly, the amount recognized as total performance fees reflects the Partnership’s share of the gains and losses of the associated funds’ underlying investments measured at their then-current fair values. Because of the inherent uncertainty, these estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and it is reasonably possible that the difference could be material. Carried interest is ultimately realized when: (i) an underlying investment is profitably disposed of, (ii) certain costs borne by the limited partner investors have been reimbursed, (iii) the fund’s cumulative returns are in excess of the preferred return and (iv) the Partnership has decided to collect carry rather than return additional capital to limited partner investors. Realized carried interest may be required to be returned by the Partnership in future periods if the funds’ investment values decline below certain levels. When the fair value of a fund’s investments remains constant or falls below certain return hurdles, previously recognized performance fees are reversed. In all cases, each fund is considered separately in this regard, and for a given fund, performance fees can never be negative over the life of a fund. If upon a hypothetical liquidation of a fund’s investments at their then current fair values, previously recognized and distributed carried interest would be required to be returned, a liability is established for the potential giveback obligation. As of March 31, 2013 and December 31, 2012, the Partnership has recognized $46.3 million and $69.2 million, respectively, for giveback obligations.
In addition to its performance fees from its corporate private equity and real assets funds, the Partnership is also entitled to receive performance fees from certain of its global market strategies funds and fund of funds vehicles when the return on assets under management exceeds certain benchmark returns or other performance targets. In such arrangements, performance fees are recognized when the performance benchmark has been achieved, and are included in performance fees in the accompanying condensed consolidated statements of operations. Investment Income (Loss) Investment income (loss) represents the unrealized and realized gains and losses resulting from the Partnership’s equity method investments and other principal investments. Equity method investment income (loss) includes the related amortization of the basis difference between the Partnership’s carrying value of its investment and the Partnership’s share of underlying net assets of the investee, as well as the compensation expense associated with compensatory arrangements provided by the Partnership to employees of its equity method investee. Investment income (loss) is realized when the Partnership redeems all or a portion of its investment or when the Partnership receives or is due cash income, such as dividends or distributions. Unrealized investment income (loss) results from changes in the fair value of the underlying investment as well as the reversal of unrealized gain (loss) at the time an investment is realized. Interest Income Interest income is recognized when earned. Interest income earned by the Partnership was $0.5 million and $1.4 million for the three months ended March 31, 2013 and 2012, respectively, and is included in interest and other income in the accompanying condensed consolidated statements of operations. Interest income of the Consolidated Funds was $230.6 million and $184.0 million for the three months ended March 31, 2013 and 2012, respectively, and is included in interest and other income of Consolidated Funds in the accompanying condensed consolidated statements of operations. Compensation and Benefits Base Compensation – Base compensation includes salaries, bonuses (discretionary awards and guaranteed amounts), performance payment arrangements and benefits paid and payable to Carlyle employees. Bonuses are accrued over the service period to which they relate. Equity-Based Compensation – Compensation expense relating to the issuance of equity-based awards to Carlyle employees is measured at fair value on the grant date. The compensation expense for awards that vest over a future service period is recognized over the relevant service period on a straight-line basis, adjusted for estimated forfeitures of awards not expected to vest. The compensation expense for awards that do not require future service is recognized immediately. Cash settled equity-based awards are classified as liabilities and are re-measured at the end of each reporting period. Equity-based awards issued to non-employees are recognized as general, administrative and other expenses. The grant-date fair value of equity-based awards granted to Carlyle’s non-employee directors is expensed on a straight-line basis over the vesting period. The cost of services received in exchange for an equity-based award issued to consultants is measured at each vesting date, and is not measured based on the grant-date fair value of the award unless the award is vested at the grant date. Equity-based awards that require the satisfaction of future service criteria are recognized over the relevant service period, adjusted for estimated forfeitures of awards not expected to vest, based on the fair value of the award on each reporting date and adjusted for the actual fair value of the award at each vesting date. Accordingly, the measured value of the award will not be finalized until the vesting date. Performance Fee Related Compensation – A portion of the performance fees earned is due to employees and advisors of the Partnership. These amounts are accounted for as compensation expense in conjunction with the recognition of the related performance fee revenue and, until paid, are recognized as a component of the accrued compensation and benefits liability. Accordingly, upon any reversal of performance fee revenue, the related compensation expense is also reversed. As of March 31, 2013 and December 31, 2012, the Partnership had recorded a liability of $1.1 billion and $912.0 million, respectively, in accrued compensation related to the portion of accrued performance fees due to employees and advisors, which was included in accrued compensation and benefits in the accompanying condensed consolidated financial statements. Income Taxes For periods prior to the reorganization and initial public offering in May 2012, no provision was made for U.S. federal income taxes in the condensed consolidated financial statements since the profits and losses were allocated to the senior Carlyle professionals who were individually responsible for reporting such amounts. During those periods, based on applicable foreign, state and local tax laws, a provision for income taxes was recorded for certain entities. For periods subsequent to the reorganization and initial public offering in May 2012, certain of the wholly-owned subsidiaries of the Partnership and the Carlyle Holdings partnerships are subject to federal, state and local corporate income taxes at the entity level and the related tax provision attributable to the Partnership’s share of this income is reflected in the condensed consolidated financial statements. Based on applicable foreign, state and local tax laws, the Partnership records a provision for income taxes for certain entities. AlpInvest Partners B.V. (“AlpInvest”), a subsidiary of the Partnership, is subject to entity level income taxes in the Netherlands. Tax positions taken by the Partnership are subject to periodic audit by U.S. federal, state, local and foreign taxing authorities. The Partnership uses the liability method of accounting for deferred income taxes pursuant to U.S. GAAP. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the carrying value of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using the statutory tax rates expected to be applied in the periods in which those temporary differences are settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the period of the change. A valuation allowance is recorded on the Partnership’s net deferred tax assets when it is more likely than not that such assets will not be realized. When evaluating the realizability of the Partnership’s deferred tax assets, all evidence, both positive and negative is evaluated. Items considered in this analysis include the ability to carry-back losses, the reversal of temporary differences, tax planning strategies, and expectations of future earnings. Under U.S. GAAP for income taxes, the amount of tax benefit to be recognized is the amount of benefit that is “more likely than not” to be sustained upon examination. The Partnership analyzes its tax filing positions in all of the U.S. federal, state, local and foreign tax jurisdictions where it is required to file income tax returns, as well as for all open tax years in these jurisdictions. If, based on this analysis, the Partnership determines that uncertainties in tax positions exist, a liability is established, which is included in accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements. The Partnership recognizes accrued interest and penalties related to unrecognized tax positions in the provision for income taxes. If recognized, the entire amount of unrecognized tax positions would be recorded as a reduction in the provision for income taxes. Tax Receivable Agreement Exchanges of Carlyle Holdings partnership units for the Partnership’s common units that are executed by the limited partners of the Carlyle Holdings partnerships result in transfers of and increases in the tax basis of the tangible and intangible assets of Carlyle Holdings, primarily attributable to a portion of the goodwill inherent in the business. These transfers and increases in tax basis will increase (for tax purposes) depreciation and amortization and therefore reduce the amount of tax that certain of the Partnership’s subsidiaries, including Carlyle Holdings I GP Inc., which are referred to as the “corporate taxpayers,” would otherwise be required to pay in the future. This increase in tax basis may also decrease gain (or increase loss) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. The Partnership has entered into a tax receivable agreement with the limited partners of the Carlyle Holdings partnerships whereby the corporate taxpayers have agreed to pay to the limited partners of the Carlyle Holdings partnerships involved in any exchange transaction 85% of the amount of cash tax savings, if any, in U.S. federal, state and local income tax or foreign or franchise tax that the corporate taxpayers realize as a result of these increases in tax basis and, in limited cases, transfers or prior increases in tax basis. The corporate taxpayers expect to benefit from the remaining 15% of cash tax savings, if any, in income tax they realize. Payments under the tax receivable agreement will be based on the tax reporting positions that the Partnership will determine. The corporate taxpayers will not be reimbursed for any payments previously made under the tax receivable agreement if a tax basis increase is successfully challenged by the Internal Revenue Service. The Partnership records an increase in deferred tax assets for the estimated income tax effects of the increases in tax basis based on enacted federal and state tax rates at the date of the exchange. To the extent that the Partnership estimates that the corporate taxpayers will not realize the full benefit represented by the deferred tax asset, based on an analysis that will consider, among other things, its expectation of future earnings, the Partnership will reduce the deferred tax asset with a valuation allowance. The Partnership records 85% of the estimated realizable tax benefit (which is the recorded deferred tax asset less any recorded valuation allowance) as an increase to the liability due under the tax receivable agreement, which is included in due to affiliates in the accompanying condensed consolidated financial statements. The remaining 15% of the estimated realizable tax benefit is initially recorded as an increase to the Partnership’s partners’ capital. All of the effects to the deferred tax asset of changes in any of the Partnership’s estimates after the tax year of the exchange will be reflected in the provision for income taxes. Similarly, the effect of subsequent changes in the enacted tax rates will be reflected in the provision for income taxes. Non-controlling Interests in Consolidated Entities Non-controlling interests in consolidated entities represent the component of equity in consolidated entities held by third party investors. These interests are adjusted for general partner allocations and by subscriptions and redemptions in hedge funds which occur during the reporting period. Non-controlling interests related to hedge funds are subject to quarterly or monthly redemption by investors in these funds following the expiration of a specified period of time (typically one year), or may be withdrawn subject to a redemption fee during the period when capital may not be withdrawn. As limited partners in these types of funds have been granted redemption rights, amounts relating to third-party interests in such consolidated funds are presented as redeemable non-controlling interests in consolidated entities within the condensed consolidated balance sheets. When redeemable amounts become contractually payable to investors, they are classified as a liability and included in other liabilities of Consolidated Funds in the condensed consolidated balance sheets. Earnings Per Common Unit The Partnership computes earnings per common unit in accordance with Accounting Standards Codification (“ASC”) 260, “Earnings Per Share.” Basic earnings per common unit is calculated by dividing net income (loss) attributable to the Partnership by the weighted-average number of common units outstanding for the period. Diluted earnings per common unit reflects the assumed conversion of all dilutive securities. Prior to the reorganization and the initial public offering in May 2012, Carlyle’s business was conducted through a large number of entities as to which there was no single holding entity, but which were separately owned by senior Carlyle professionals, CalPERS, and Mubadala. There was no single capital structure upon which to calculate historical earnings per common unit information. Accordingly, earnings per common unit information has not been presented for historical periods prior to the reorganization and initial public offering. Investments Investments include (i) the Partnership’s ownership interests (typically general partner interests) in the Funds, (ii) the investments held by the Consolidated Funds (all of which are presented at fair value in the Partnership’s condensed consolidated financial statements), (iii) strategic investments made by the Partnership and (iv) certain credit-oriented investments. The valuation procedures utilized for investments of the Funds vary depending on the nature of the investment. The fair value of investments in publicly-traded securities is based on the closing price of the security with adjustments to reflect appropriate discounts if the securities are subject to restrictions. Upon the sale of a security, the realized net gain or loss is computed on a weighted average cost basis, with the exception of the CLOs, which compute the realized net gain or loss on a first in, first out basis. Securities transactions are recorded on a trade date basis.
The fair value of non-equity securities, which may include instruments that are not listed on an exchange, considers, among other factors, external pricing sources, such as dealer quotes or independent pricing services, recent trading activity or other information that, in the opinion of the Partnership, may not have been reflected in pricing obtained from external sources. When valuing private securities or assets without readily determinable market prices, the Partnership gives consideration to operating results, financial condition, economic and/or market events, recent sales prices and other pertinent information. These valuation procedures may vary by investment but include such techniques as comparable public market valuation, comparable acquisition valuation and discounted cash flow analysis. Because of the inherent uncertainty, these estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and it is reasonably possible that the difference could be material. Furthermore, there is no assurance that, upon liquidation, the Partnership will realize the values presented herein. Equity-Method Investments The Partnership accounts for all investments in which it has significant influence, including investments in the unconsolidated Funds and strategic investments, using the equity method of accounting. The carrying value of equity-method investments is determined based on amounts invested by the Partnership, adjusted for the equity in earnings or losses of the investee allocated based on the respective partnership agreement, less distributions received. The Partnership evaluates its equity-method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. Cash and Cash Equivalents Cash and cash equivalents include cash held at banks and cash held for distributions, including temporary investments with original maturities of less than three months when purchased. Included in cash and cash equivalents is cash withheld from carried interest distributions for potential giveback obligations of $53.1 million and $59.2 million at March 31, 2013 and December 31, 2012, respectively. Cash and Cash Equivalents Held at Consolidated Funds Cash and cash equivalents held at Consolidated Funds consists of cash and cash equivalents held by the Consolidated Funds, which, although not legally restricted, is not available to fund the general liquidity needs of the Partnership. Restricted Cash In addition to the unrestricted cash held for potential giveback obligations discussed above, the Partnership is required to withhold a certain portion of the carried interest proceeds from one of its corporate private equity funds to provide a reserve for potential giveback obligations. In connection with this agreement, cash and cash equivalents of $13.2 million and $13.0 million is included in restricted cash at March 31, 2013 and December 31, 2012, respectively. Also included in restricted cash at March 31, 2013 and December 31, 2012 is €4.4 million ($5.6 million and $5.8 million as of March 31, 2013 and December 31, 2012, respectively) in escrow related to a tax contingency at one of the Partnership’s real estate funds (see Note 11). The remaining balance in restricted cash at March 31, 2013 and December 31, 2012 primarily represents cash held by the Partnership’s foreign subsidiaries due to certain government regulatory capital requirements.
Restricted Cash and Securities of Consolidated Funds Certain CLOs receive cash from various counterparties to satisfy collateral requirements on derivative transactions. Cash received to satisfy these collateral requirements of $17.6 million and $35.7 million is included in restricted cash and securities of Consolidated Funds at March 31, 2013 and December 31, 2012, respectively. Certain CLOs hold U.S. Treasury notes, Obligation Assimilable du Tresor Securities (“OATS”) Strips, French government securities, guaranteed investment contracts and other highly liquid asset-backed securities as collateral for specific classes of loans payable in the CLOs. As of March 31, 2013 and December 31, 2012, securities of $0.2 million and $0.6 million, respectively, are included in restricted cash and securities of Consolidated Funds. Derivative Instruments Derivative instruments are recognized at fair value in the condensed consolidated balance sheets with changes in fair value recognized in the condensed consolidated statements of operations for all derivatives not designated as hedging instruments. For all derivatives where hedge accounting is applied, effectiveness testing and other procedures to assess the ongoing validity of the hedges are performed at least quarterly. For instruments designated as cash flow hedges, the Partnership records changes in the estimated fair value of the derivative, to the extent that the hedging relationship is effective, in other comprehensive income (loss). If the hedging relationship for a derivative is determined to be ineffective, due to changes in the hedging instrument or the hedged items, the fair value of the portion of the hedging relationship determined to be ineffective will be recognized as a gain or loss in the condensed consolidated statements of operations. Fixed Assets Fixed assets consist of furniture, fixtures and equipment, leasehold improvements, and computer hardware and software and are stated at cost, less accumulated depreciation and amortization. Depreciation is recognized on a straight-line method over the assets’ estimated useful lives, which for leasehold improvements are the lesser of the lease terms or the life of the asset, and three to seven years for other fixed assets. Fixed assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Intangible Assets and Goodwill The Partnership’s intangible assets consist of acquired contractual rights to earn future fee income, including management and advisory fees, customer relationships, and acquired trademarks. Finite-lived intangible assets are amortized over their estimated useful lives, which range from three to ten years, and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Goodwill represents the excess of cost over the identifiable net assets of businesses acquired and is recorded in the functional currency of the acquired entity. Goodwill is recognized as an asset and is reviewed for impairment annually as of October 1st and between annual tests when events and circumstances indicate that impairment may have occurred. Deferred Revenue Deferred revenue represents management fees and other revenue received prior to the balance sheet date, which has not yet been earned.
Comprehensive Loss Comprehensive income consists of net income and other comprehensive income. The Partnership’s other comprehensive income is comprised of unrealized gains and losses on cash flow hedges, foreign currency translation adjustments and gains / losses on defined benefit plans sponsored by AlpInvest. The components of accumulated other comprehensive loss as of March 31, 2013 and December 31, 2012 were as follows:
Reclassification adjustments from accumulated other comprehensive loss relate to the Partnership’s cash flow hedges and the gains / losses on defined benefit plans and affect interest expense and base compensation expense, respectively, on the condensed consolidated statements of operations. Foreign Currency Translation Non-U.S. dollar denominated assets and liabilities are translated at period-end rates of exchange, and the condensed consolidated statements of operations are translated at rates of exchange in effect throughout the period. Foreign currency losses resulting from transactions outside of the functional currency of an entity of $0.9 million and $3.7 million for the three months ended March 31, 2013 and 2012, respectively, are included in general, administrative and other expenses in the condensed consolidated statements of operations. Recent Accounting Pronouncement In December 2011, the FASB amended its guidance for offsetting financial instruments. The amended guidance, included in ASU 2011-11, “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities,” is effective for the Partnership for its interim reporting periods beginning on or after January 1, 2013. The amended guidance requires additional disclosure about netting arrangements to enable financial statement users to evaluate the effect or potential effect of such arrangements on an entity’s financial position. The Partnership adopted this guidance as of January 1, 2013 and the adoption did not have a material impact on the Partnership’s financial statements. |
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- Definition
The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions
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Mar. 31, 2013
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| Acquisitions |
Acquisition of Vermillion On October 1, 2012, the Partnership acquired 55% of Vermillion Asset Management, LLC and its consolidated subsidiaries, Viridian Partners, LLC, Crimson Physical Commodities Partners, LLC, Celadon Partners, LLC, and Indigo Partners, LLC, (collectively, “Vermillion”), a New York-based commodities investment manager. The purchase price consisted of $50.0 million in cash, 1,440,276 contingently issuable Carlyle Holdings partnership units, which are issuable over a period of 4.25 years based on the achievement of performance-based conditions, and performance-based contingent cash payments of up to $131.3 million, which is the maximum amount of additional cash consideration that would be paid within 5.25 years of closing. The Partnership consolidated the financial position and results of operations of Vermillion effective October 1, 2012 and accounted for this transaction as a business combination. Vermillion is included in the Partnership’s Global Market Strategies business segment. See Note 3 to the consolidated financial statements included in the Partnership’s 2012 Annual Report on Form 10-K for additional information on the Vermillion acquisition. |
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- Definition
The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurement
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Mar. 31, 2013
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| Fair Value Measurement |
The fair value measurement accounting guidance establishes a hierarchal disclosure framework which ranks the observability of market price inputs used in measuring financial instruments at fair value. The observability of inputs is impacted by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices, or for which fair value can be measured from quoted prices in active markets, will generally have a higher degree of market price observability and a lesser degree of judgment applied in determining fair value. Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I – inputs to the valuation methodology are quoted prices available in active markets for identical instruments as of the reporting date. The type of financial instruments included in Level I include unrestricted securities, including equities and derivatives, listed in active markets. The Partnership does not adjust the quoted price for these instruments, even in situations where the Partnership holds a large position and a sale could reasonably impact the quoted price. Level II – inputs to the valuation methodology are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date. The type of financial instruments in this category includes less liquid and restricted securities listed in active markets, securities traded in other than active markets, government and agency securities, and certain over-the-counter derivatives where the fair value is based on observable inputs. Investments in hedge funds are classified in this category when their net asset value is redeemable without significant restriction. Level III – inputs to the valuation methodology are unobservable and significant to overall fair value measurement. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in this category include investments in privately-held entities, non-investment grade residual interests in securitizations, collateralized loan obligations, and certain over-the-counter derivatives where the fair value is based on unobservable inputs. Investments in fund of funds are generally included in this category.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for any given financial instrument is based on the lowest level of input that is significant to the fair value measurement. The Partnership’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The following table summarizes the Partnership’s assets and liabilities measured at fair value on a recurring basis by the above fair value hierarchy levels as of March 31, 2013:
The following table summarizes the Partnership’s assets and liabilities measured at fair value on a recurring basis by the above fair value hierarchy levels as of December 31, 2012:
Transfers from Level II to Level I during the three months ended March 31, 2013 were due to the expiration of transferability restrictions on certain securities that were classified as Level II at December 31, 2012. In certain cases, debt and equity securities are valued on the basis of prices from an orderly transaction between market participants provided by reputable dealers or pricing services. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices, market transactions in comparable investments and various relationships between investments. In the absence of observable market prices, the Partnership values its investments using valuation methodologies applied on a consistent basis. For some investments little market activity may exist. Management’s determination of fair value is then based on the best information available in the circumstances and may incorporate management’s own assumptions and involves a significant degree of judgment, taking into consideration a combination of internal and external factors, including the appropriate risk adjustments for non-performance and liquidity risks. Investments for which market prices are not observable include private investments in the equity of operating companies, real estate properties, and certain debt positions. The valuation technique for each of these investments is described below: Corporate Private Equity Investments – The fair values of corporate private equity investments are determined by reference to projected net earnings, earnings before interest, taxes, depreciation and amortization (“EBITDA”), the discounted cash flow method, public market or private transactions, valuations for comparable companies and other measures which, in many cases, are unaudited at the time received. Valuations may be derived by reference to observable valuation measures for comparable companies or transactions (e.g., multiplying a key performance metric of the investee company such as EBITDA by a relevant valuation multiple observed in the range of comparable companies or transactions), adjusted by management for differences between the investment and the referenced comparables, and in some instances by reference to option pricing models or other similar models. Certain fund investments in the Partnership’s Global Market Strategies, Real Assets and Solutions segments are comparable to corporate private equity investments and are valued in accordance with these policies. Real Estate Investments – The fair values of real estate investments are determined by considering projected operating cash flows, sales of comparable assets, if any, and replacement costs, among other measures. The methods used to estimate the fair value of real estate investments include the discounted cash flow method and/or capitalization rates (“cap rates”) analysis. Valuations may be derived by reference to observable valuation measures for comparable assets (e.g., multiplying a key performance metric of the investee asset, such as net operating income, by a relevant cap rate observed in the range of comparable transactions), adjusted by management for differences between the investment and the referenced comparables, and in some instances by reference to pricing models or other similar methods. Credit-Oriented Investments – The fair values of credit-oriented investments are generally determined on the basis of prices between market participants provided by reputable dealers or pricing services. Specifically, for investments in distressed debt and corporate loans and bonds, the fair values are generally determined by valuations of comparable investments. In some instances, the Partnership may utilize other valuation techniques, including the discounted cash flow method. CLO Investments and CLO Loans Payable – The Partnership has elected the fair value option to measure the loans payable of the CLOs at fair value, as the Partnership has determined that measurement of the loans payable and preferred shares issued by the CLOs at fair value better correlates with the value of the assets held by the CLOs, which are held to provide the cash flows for the note obligations. The investments of the CLOs are also carried at fair value. The fair values of the CLO loan and bond assets are primarily based on quotations from reputable dealers or relevant pricing services. In situations where valuation quotations are unavailable, the assets are valued based on similar securities, market index changes, and other factors. The Partnership corroborates quotations from pricing services either with other available pricing data or with its own models. Generally, the bonds and loans in the CLOs are not actively traded and are classified as Level III. The fair values of the CLO loans payable and the CLO structured asset positions are determined based on both discounted cash flow analyses and third-party quotes. Those analyses consider the position size, liquidity, current financial condition of the CLOs, the third-party financing environment, reinvestment rates, recovery lags, discount rates, and default forecasts and are compared to broker quotations from market makers and third party dealers. Fund Investments – The Partnership’s investments in funds are valued based on its proportionate share of the net assets provided by the third party general partners of the underlying fund partnerships based on the most recent available information which is typically a lag of up to 90 days. The terms of the investments generally preclude the ability to redeem the investment. Distributions from these investments will be received as the underlying assets in the funds are liquidated, the timing of which cannot be readily determined.
The changes in financial instruments measured at fair value for which the Partnership has used Level III inputs to determine fair value are as follows (Dollars in millions):
Total realized and unrealized gains and losses included in earnings for Level III investments for trading securities are included in investment income (loss), and such gains and losses for investments of Consolidated Funds and loans payable and derivative instruments of the CLOs are included in net investment gains (losses) of Consolidated Funds in the condensed consolidated statements of operations.
The following table summarizes quantitative information about the Partnership’s Level III inputs as of March 31, 2013:
The following table summarizes quantitative information about the Partnership’s Level III inputs as of December 31, 2012:
The significant unobservable inputs used in the fair value measurement of the Partnership’s investments in equity securities include EBITDA, price-earnings and book value multiples, indicative quotes, discount rates and exit cap rates. Significant decreases in EBITDA, price-earnings, book value multiples or indicative quotes in isolation would result in a significantly lower fair value measurement. Significant increases in discount rates or exit cap rates in isolation would result in a significantly lower fair value measurement. The significant unobservable inputs used in the fair value measurement of the Partnership’s investments in bonds and loans are market yields and indicative quotes. Significant increases in market yields would result in a significantly lower fair value measurement. Significant decreases in indicative quotes in isolation would result in a significantly lower fair value measurement. The significant unobservable inputs used in the fair value measurement of the Partnership’s other investments of Consolidated Funds and derivative instruments of Consolidated Funds are primarily indicative quotes. A significant decrease in this input in isolation would result in a significantly lower fair value measurement. The significant unobservable inputs used in the fair value measurement of the Partnership’s trading securities and other investments include indicative quotes, EBITDA multiples and discount rates. Significant decreases in EBITDA multiples or indicative quotes in isolation would result in a significantly lower fair value measurement. Significant increases in discount rates in isolation would result in a significantly lower fair value measurement. The significant unobservable inputs used in the fair value measurement of the Partnership’s loans payable of Consolidated Funds are discount rates, default rates and recovery rates. Significant increases in discount rates or default rates in isolation would result in a significantly lower fair value measurement, while a significant increase in recovery rates in isolation would result in a significantly higher fair value. The significant unobservable inputs used in the fair value measurement of the Partnership’s contingent consideration are assumed percentage of total potential contingent payments and discount rates. A significant decrease in the assumed percentage of total potential contingent payments or increase in discount rates in isolation would result in a significantly lower fair value measurement. |
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- Definition
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Performance Fees
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Mar. 31, 2013
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| Accrued Performance Fees |
The components of accrued performance fees are as follows:
Approximately 61% of accrued performance fees at March 31, 2013 and December 31, 2012, are related to Carlyle Partners IV, L.P. and Carlyle Partners V, L.P., two of the Partnership’s Corporate Private Equity funds.
Accrued performance fees are shown gross of the Partnership’s accrued giveback obligations, which are separately presented in the condensed consolidated balance sheets. The components of the accrued giveback obligations are as follows:
Performance Fees The performance fees included in revenues are derived from the following segments:
Approximately 53% ($338.5 million) of performance fees for the three months ended March 31, 2013 are related to Carlyle Partners IV, L.P. and Carlyle Partners V, L.P., two of the Partnership’s Corporate Private Equity funds. Total revenues recognized from Carlyle Partners IV, L.P. and Carlyle Partners V, L.P. were $188.3 million and $209.7 million, respectively, for the three months ended March 31, 2013. Approximately 62% ($397.5 million) of performance fees for the three months ended March 31, 2012 are related to Carlyle Asia Partners II, L.P., Carlyle Partners IV, L.P. and Carlyle Partners V, L.P., three of the Partnership’s Corporate Private Equity funds. Total revenues recognized from Carlyle Asia Partners II, L.P., Carlyle Partners IV, L.P. and Carlyle Partners V, L.P. were $81.5 million, $287.1 million and $93.2 million, respectively, for the three months ended March 31, 2012. |
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- Definition
Accrued performance fees. No definition available.
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Investments
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Mar. 31, 2013
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| Investments |
Investments consist of the following:
Strategic Investment in NGP On December 20, 2012, the Partnership entered into separate purchase agreements with ECM Capital, L.P. and Barclays Natural Resource Investments, a division of Barclays Bank PLC (“BNRI”), pursuant to which the Partnership agreed to invest in NGP Management Company, L.L.C. (“NGP Management” and, together with its affiliates, “NGP”). NGP is an Irving, Texas-based energy investor. The Partnership’s equity interests in NGP Management entitle the Partnership to an allocation of income equal to 47.5% of the management fee-related revenues of the NGP entities that serve as the advisors to certain private equity funds, and future interests in the general partners of certain future carry funds advised by NGP that entitle the Partnership to an allocation of income equal to 7.5% of the carried interest received by such fund general partners. In addition, following the termination of the investment period of the NGP Natural Resources X, L.P. fund (“NGP X”), the Partnership will pay $7.5 million to acquire an additional 7.5% equity interest in NGP Management that, together with the initial interests described above, will entitle the Partnership to an allocation of income equal to 55% of the management fee-related revenues of the NGP entities that serve as the advisors to certain private equity funds. The sellers also granted the Partnership options to purchase additional interests in NGP. Specifically, the Partnership acquired (1) an option, exercisable by the Partnership between July 1, 2014 and July 1, 2015, to purchase from BNRI, for a purchase price in cash that is estimated to be between $65.0 million to $74.0 million plus the net capital amount that has been contributed by BNRI, interests in the general partner of NGP X entitling the Partnership to an allocation of income equal to 40% of the carried interest received by such fund general partner; (2) an option, exercisable by the Partnership from December 20, 2012 until January 1, 2015, to purchase from BNRI, for a purchase price in cash that is estimated to be between $34.0 million to $38.0 million, additional interests in the general partners of all future carry funds advised by NGP entitling the Partnership to an additional equity allocation equal to 40% of the carried interest received by such fund general partners; and (3) an option, exercisable by the Partnership in approximately 13 years, to purchase from ECM Capital, L.P. and its affiliates, for a formulaic purchase price in cash based upon a measure of the earnings of NGP, the remaining equity interests in NGP Management. In consideration for these interests and options, the Partnership paid an aggregate of $384.0 million in cash to ECM Capital, L.P. and BNRI, and issued 996,572 Carlyle Holdings partnership units to ECM Capital, L.P. which vest ratably over a period of five years. The Partnership will also pay consideration of $7.5 million upon the termination of the investment period of the NGP X fund. The transaction also includes contingent consideration payable to ECM Capital, L.P. of up to $45.0 million in cash, 597,944 Carlyle Holdings partnership units that were issued at closing but vest upon the achievement of performance conditions, and contingently issuable Carlyle Holdings partnership units up to $15.0 million that will be issued if the performance conditions are met. Additionally, the transaction includes contingent consideration payable to BNRI of up to $183.0 million, which will be payable partly in cash and partly by a promissory note issued by the Partnership, if the performance conditions are met. The contingent consideration is payable from 2015 through 2018, depending on NGP’s achievement of certain business performance goals. The Partnership also entered into a senior advisor consulting agreement with the chief executive officer of NGP and granted deferred restricted common units to a group of NGP personnel who are providing the Partnership with consulting services. The Partnership accounts for its investment in NGP Management under the equity method of accounting. The Partnership recorded its investment in NGP Management initially at cost, excluding any elements in the transaction that were deemed to be compensatory arrangements to NGP personnel. The Carlyle Holdings partnership units issued in the transaction, the contingently issuable Carlyle Holdings partnership units, and the deferred restricted common units were deemed to be compensatory arrangements; these elements are recognized as an expense under applicable U.S. GAAP. The Partnership records realized investment income for its equity income allocation from NGP, and also records, as a reduction of realized investment income, its share of any allocated expenses from NGP Management, expenses associated with the compensatory elements of the transaction, and the amortization of the basis differences related to the definitive-lived identifiable intangible assets of NGP Management. For the three months ended March 31, 2013, the Partnership recognized $1.0 million of realized net investment loss from the investment in NGP Management, comprised of investment earnings of $16.2 million less $17.2 million of expenses associated with the compensatory elements of the transaction and amortization of basis differences. The Partnership’s basis differences based on the underlying net assets of the entity were $244.9 million and $259.8 million as of March 31, 2013 and December 31, 2012, respectively; these differences are amortized over a period of ten years. Equity-Method Investments The Partnership’s equity method investments include its fund investments in Corporate Private Equity, Global Market Strategies and Real Assets, typically as general partner interests, and its investment in NGP Management (included within Real Assets), which are not consolidated but in which the Partnership exerts significant influence. Investments are related to the following segments:
The Partnership evaluates each of its equity method investments to determine if disclosure of summarized income statement information is required under Article 10 of Regulation S-X. As of March 31, 2013 and for the three months then ended, no individual equity method investment held by the Partnership was significant based on the disclosure criteria.
Investment Income (Loss) The components of investment income (loss) are as follows:
Carlyle’s income (loss) from its equity-method investments is included in investment income (loss) in the condensed consolidated statements of operations and consists of:
Trading Securities and Other Investments Trading securities and other investments as of March 31, 2013 and December 31, 2012 primarily consisted of $27.5 million and $26.1 million, respectively, of investments in corporate mezzanine securities and bonds, as well as other cost method investments. Investments of Consolidated Funds On February 14, 2013 and March 28, 2013, the Partnership formed two new CLOs. The Partnership has concluded that these CLOs are VIEs and the Partnership is the primary beneficiary. As a result, the Partnership consolidated the financial positions and results of operations of the CLOs into its condensed consolidated financial statements beginning on their respective closing dates. As of March 31, 2013, the total assets of these CLOs included in the Partnership’s condensed consolidated financial statements were approximately $1.9 billion. There were no individual investments with a fair value greater than five percent of the Partnership’s total assets for any period presented.
Interest and Other Income of Consolidated Funds The components of interest and other income of Consolidated Funds are as follows:
Net Investment Gains (Losses) of Consolidated Funds Net investment gains (losses) of Consolidated Funds include net realized gains (losses) from sales of investments and unrealized gains (losses) resulting from changes in fair value of the Consolidated Funds’ investments. The components of net investment gains (losses) of Consolidated Funds are as follows:
The following table presents realized and unrealized gains (losses) earned from investments of the Consolidated Funds:
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- Definition
The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Intangible Assets and Goodwill
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Mar. 31, 2013
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| Intangible Assets and Goodwill |
The following table summarizes the carrying amount of intangible assets as of March 31, 2013 and December 31, 2012:
The following table summarizes the changes in the carrying amount of goodwill, by segment as of March 31, 2013. There was no goodwill associated with the Partnership’s Corporate Private Equity and Real Assets segments.
Intangible asset amortization expense was $37.0 million and $18.7 million for the three months ended March 31, 2013 and 2012, respectively, and is included in general, administrative, and other expenses in the condensed consolidated statements of operations. The following table summarizes the estimated amortization expense for 2013 through 2017 and thereafter (Dollars in millions):
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- Definition
The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Borrowings
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Mar. 31, 2013
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| Borrowings |
The Partnership borrows and enters into credit agreements for its general operating and investment purposes. The Partnership’s borrowings consist of the following:
Senior Credit Facility The senior credit facility includes $500.0 million in a term loan and $750.0 million in a revolving credit facility. The term loan and revolving credit facility mature on September 30, 2016. Principal amounts outstanding under the term loan and revolving credit facility accrue interest, at the option of the borrowers, either (a) at an alternate base rate plus an applicable margin not to exceed 0.75%, or (b) at LIBOR plus an applicable margin not to exceed 1.75% (1.25% at March 31, 2013). During the first quarter of 2013, the Partnership prepaid $475.0 million of term loan principal that would have been due beginning in September 2014. The remaining outstanding principal amount under the term loan is payable on September 30, 2016. Total interest expense under the senior credit facility was $4.2 million and $6.7 million for the three months ended March 31, 2013 and 2012, respectively. As a result of this prepayment, the Partnership also expensed $1.9 million of deferred financing costs in interest expense upon the early extinguishment of the debt. The fair value of the outstanding balances of the term loan and revolving credit facility at March 31, 2013 and December 31, 2012 approximated par value based on current market rates for similar debt instruments and are classified as Level III within the fair value hierarchy. 3.875% Senior Notes In January 2013, an indirect finance subsidiary of the Partnership issued $500.0 million of 3.875% senior notes due February 1, 2023 at 99.966% of par. Interest is payable semi-annually on February 1 and August 1, beginning August 1, 2013. This subsidiary may redeem the senior notes in whole at any time or in part from time to time at a price equal to the greater of 100% of the principal amount of the notes being redeemed and the sum of the present values of the remaining scheduled payments of principal and interest on any notes being redeemed discounted to the redemption date on a semi-annual basis at the Treasury rate plus 30 basis points plus accrued and unpaid interest on the principal amounts being redeemed to the redemption date. Interest expense on the notes was $4.0 million for the three months ended March 31, 2013. At March 31, 2013, the fair value of the notes approximated par value and is classified as Level III within the fair value hierarchy. 5.625% Senior Notes In March 2013, an indirect finance subsidiary of the Partnership issued $400.0 million of 5.625% senior notes due March 30, 2043 at 99.583% of par. Interest is payable semi-annually on March 30 and September 30, beginning September 30, 2013. This subsidiary may redeem the senior notes in whole at any time or in part from time to time at a price equal to the greater of 100% of the principal amount of the notes being redeemed and the sum of the present values of the remaining scheduled payments of principal and interest on any notes being redeemed discounted to the redemption date on a semi-annual basis at the Treasury rate plus 40 basis points plus accrued and unpaid interest on the principal amounts being redeemed to the redemption date. Interest expense on the notes for the three months ended March 31, 2013 was not material. At March 31, 2013, the fair value of the notes approximated par value and is classified as Level III within the fair value hierarchy.
The Partnership is subject to interest rate risk associated with its variable rate debt financing. To manage this risk, the Partnership entered into the following interest rate swaps to fix the base LIBOR interest rate on its term loan borrowings:
In the first quarter of 2013, $475.0 million of term loan principal was prepaid. As a result of these term loan prepayments, the two interest rate swaps no longer qualify for cash flow hedge accounting due to ineffectiveness; the interest rate swaps will be accounted for prospectively as freestanding derivative instruments recorded at fair value each period with changes in fair value recorded through earnings. The pre-existing hedge losses included in accumulated other comprehensive loss for these interest rate swaps of $8.8 million will be reclassified into earnings as the original forecasted transactions affect earnings. In March 2013, the Partnership entered into a third interest rate swap with an initial notional amount of $427.2 million that amortizes through September 30, 2016. This interest rate swap will be accounted for as a freestanding derivative instrument recorded at fair value each period with changes in fair value recorded through earnings. Debt Covenants The Partnership is subject to various financial covenants under its loan agreements including among other items, maintenance of a minimum amount of management fee earning assets. The Partnership is also subject to various non-financial covenants under its loan agreements. The Partnership was in compliance with all financial and non-financial covenants under its various loan agreements as of March 31, 2013. Loans Payable of Consolidated Funds Loans payable of Consolidated Funds represent amounts due to holders of debt securities issued by the CLOs. Several of the CLOs issued preferred shares representing the most subordinated interest, however these tranches are mandatorily redeemable upon the maturity dates of the senior secured loans payable, and as a result have been classified as liabilities and are included in loans payable of Consolidated Funds in the condensed consolidated balance sheets. As of March 31, 2013 and December 31, 2012, the following borrowings were outstanding, which includes preferred shares classified as liabilities (Dollars in millions):
Loans payable of the CLOs are collateralized by the assets held by the CLOs and the assets of one CLO may not be used to satisfy the liabilities of another. This collateral consisted of cash and cash equivalents, corporate loans, corporate bonds and other securities. As of March 31, 2013 and December 31, 2012, the fair value of the CLO assets was $16.4 billion and $15.7 billion, respectively. Certain CLOs entered into liquidity facility agreements with various liquidity facility providers on or about the various closing dates of the applicable CLO in order to fund payments of interest when there are insufficient funds available. The proceeds from such draw-downs are used for payments of interest at each interest payment date and the acquisition or exercise of an option or warrant as part of any collateral enhancement obligation. The liquidity facilities in aggregate allow for a maximum borrowing of $12.8 million and bear weighted average interest at EURIBOR plus 0.25% per annum. Amounts borrowed under the liquidity facilities are repaid based on cash flows available subject to priority of payments under each CLO’s governing documents. There were no borrowings outstanding under the liquidity facility as of March 31, 2013 and December 31, 2012. |
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- Definition
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Contingent Consideration
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Mar. 31, 2013
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| Contingent Consideration |
The Partnership has contingent consideration obligations related to its business acquisitions and strategic investments. The changes in the contingent consideration liabilities are as follows:
The fair value of the performance-based contingent cash and equity consideration payable to the sellers who are senior Carlyle professionals has been recorded in due to affiliates in the accompanying condensed consolidated balance sheets. These payments are not contingent upon the senior Carlyle professional being employed by Carlyle at the time that the performance conditions are met. For periods prior to the reorganization and initial public offering in May 2012, the change in the fair value of this contingent consideration was recorded directly in partners’ capital in the condensed consolidated balance sheets. For periods subsequent to the reorganization and initial public offering, changes in the fair value of these amounts are recorded in other non-operating expenses in the condensed consolidated statements of operations.
The amount of employment-based contingent cash consideration payable to the sellers who are senior Carlyle professionals has been recorded as accrued compensation and benefits in the accompanying condensed consolidated balance sheets. For periods prior to the reorganization and initial public offering in May 2012, the change in the value of this contingent consideration was recorded in partners’ capital in the condensed consolidated balance sheets. For periods subsequent to the reorganization and initial public offering, changes in the value of these amounts are recorded as compensation expense in the condensed consolidated statements of operations. The fair value of contingent consideration payable to non-Carlyle personnel is included in accounts payable, accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets. Changes in the fair value of this contingent consideration are recorded in other non-operating expenses in the condensed consolidated statements of operations. The fair values of the performance-based contingent cash consideration were based on probability-weighted discounted cash flow models. These fair value measurements are based on significant inputs not observable in the market and thus represent Level III measurements as defined in the accounting guidance for fair value measurement. As of March 31, 2013 and December 31, 2012, the fair value of the contingently issuable Carlyle Holdings partnership units was based principally by reference to the quoted price of the Partnership’s common units. This fair value measurement was based on inputs that are not directly observable but are corroborated by observable market data and thus represents a Level II measurement as defined in the accounting guidance for fair value measurement. Refer to Note 4 for additional disclosures related to the fair value of these instruments as of March 31, 2013 and December 31, 2012. The following table represents the maximum amounts that could be paid from contingent cash obligations associated with the business acquisitions and the strategic investment in NGP Management and the amount payable if the Partnership elects to exercise its options related to NGP:
Some of the employment-based contingent cash consideration agreements do not contain provisions limiting the amount that could be paid by the Partnership. For purposes of the table above, the Partnership has used its current estimate of the amount to be paid upon the determination dates for such payments. In the condensed consolidated financial statements, the Partnership records the performance-based contingent cash consideration from business acquisitions at fair value at each reporting period. For the employment-based contingent cash consideration, the Partnership accrues the compensation liability over the implied service period. If the Partnership exercises the options to acquire additional investments in NGP, the amount paid will be included in the carrying value of its equity-method investment in NGP at such time. |
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- Definition
The entire disclosure for our contingent considerations related to our business acquisitions and strategic investments. No definition available.
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Accrued Compensation and Benefits
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Mar. 31, 2013
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| Accrued Compensation and Benefits |
Accrued compensation and benefits consist of the following:
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- Definition
Accrued compensation and benefits. No definition available.
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Commitments and Contingencies
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Mar. 31, 2013
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| Commitments and Contingencies |
Capital Commitments The Partnership and its unconsolidated affiliates have unfunded commitments to entities within the following segments as of March 31, 2013 (Dollars in millions):
Of the $2.3 billion of unfunded commitments, approximately $2.1 billion is subscribed individually by senior Carlyle professionals, operating executives and other professionals, with the balance funded directly by the Partnership. In addition to these unfunded commitments, the Partnership may from time to time exercise its right to purchase additional interests in its investment funds that become available in the ordinary course of their operations. Guaranteed Loans On August 4, 2001, the Partnership entered into an agreement with a financial institution pursuant to which the Partnership is the guarantor on a credit facility for eligible employees investing in Carlyle sponsored funds. This credit facility renews on an annual basis, allowing for annual incremental borrowings up to an aggregate of $16.1 million, and accrues interest at the lower of the prime rate, as defined, or three-month LIBOR plus 2%, reset quarterly (3.25% weighted-average rate at March 31, 2013). As of March 31, 2013 and December 31, 2012, approximately $10.7 million and $10.8 million, respectively, were outstanding under the credit facility and payable by the employees. The amount funded by the Partnership under this guarantee as of March 31, 2013 was not material. The Partnership believes the likelihood of any material funding under this guarantee to be remote. The fair value of this guarantee is not significant to the condensed consolidated financial statements. Other Guarantees The Partnership has guaranteed payment of giveback obligations, if any, related to one of its corporate private equity funds to the extent the amount of funds reserved for potential giveback obligations is not sufficient to fulfill such obligations. At March 31, 2013 and December 31, 2012, $13.2 million and $13.0 million, respectively, were held in an escrow account and the Partnership believes the likelihood of any material fundings under this guarantee to be remote. Contingent Obligations (Giveback) A liability for potential repayment of previously received performance fees of $46.3 million at March 31, 2013, is shown as accrued giveback obligations in the condensed consolidated balance sheets, representing the giveback obligation that would need to be paid if the funds were liquidated at their current fair values at March 31, 2013. However, the ultimate giveback obligation, if any, does not become realized until the end of a fund’s life (see Note 2). The Partnership has recorded $19.9 million and $32.8 million of unbilled receivables from former and current employees and senior Carlyle professionals as of March 31, 2013 and December 31, 2012, respectively, related to giveback obligations, which are included in due from affiliates and other receivables, net in the accompanying condensed consolidated balance sheets. Current and former senior Carlyle professionals and employees are personally responsible for their giveback obligations. The receivables are collateralized by investments made by individual senior Carlyle professionals and employees in Carlyle-sponsored funds. In addition, $305.3 million and $309.1 million have been withheld from distributions of carried interest to senior Carlyle professionals and employees for potential giveback obligations as of March 31, 2013 and December 31, 2012, respectively. Such amounts are held by an entity not included in the accompanying condensed consolidated balance sheets. During the three months ended March 31, 2013, the Partnership repaid $14.0 million of giveback obligations to certain funds. This amount was funded primarily through collection of employee receivables related to giveback obligations and from contributions from non-controlling interests for their portion of the obligation. The Partnership had previously recognized this liability as an unrealized performance fee loss. As a result of the giveback repayment, the Partnership reclassified this amount to a realized performance fee loss for the three months ended March 31, 2013. If, at March 31, 2013, all of the investments held by the Partnership’s Funds were deemed worthless, a possibility that management views as remote, the amount of realized and distributed carried interest subject to potential giveback would be $1.1 billion, on an after-tax basis where applicable. Leases The Partnership leases office space in various countries around the world and maintains its headquarters in Washington, D.C., where it leases its primary office space under a non-cancelable lease agreement expiring on July 31, 2026. Office leases in other locations expire in various years from 2013 through 2021. These leases are accounted for as operating leases. Rent expense was approximately $12.2 million for the three months ended March 31, 2013 and 2012, respectively, and is included in general, administrative and other expenses in the condensed consolidated statements of operations. The future minimum commitments for the leases are as follows (Dollars in millions):
Total minimum rentals to be received in the future under non-cancelable subleases as of March 31, 2013 were $10.2 million.
The Partnership records contractual escalating minimum lease payments on a straight-line basis over the term of the lease. Deferred rent payable under the leases was $32.4 million and $30.1 million as of March 31, 2013 and December 31, 2012, respectively, and is included in accounts payable, accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets. Legal Matters In the ordinary course of business, the Partnership is a party to litigation, investigations, disputes and other potential claims. Certain of these matters are described below. The Partnership is not currently able to estimate for any such matters the reasonably possible amount of loss or range of loss. The Partnership does not believe it is probable that the outcome of any existing litigation, investigations, disputes or other potential claims will materially affect the Partnership or these financial statements. The Partnership believes that the matters described below are without merit and intends to vigorously contest all such allegations. In September 2006 and March 2009, the Partnership received requests for certain documents and other information from the Antitrust Division of the U.S. Department of Justice (“DOJ”) in connection with the DOJ’s investigation of global alternative asset firms to determine whether they have engaged in conduct prohibited by U.S. antitrust laws. The Partnership fully cooperated with the DOJ’s investigation. On February 14, 2008, a private class-action lawsuit challenging “club” bids and other alleged anti-competitive business practices was filed in the U.S. District Court for the District of Massachusetts (Police and Fire Retirement System of the City of Detroit v. Apollo Global Management, LLC). The complaint alleges, among other things, that certain global alternative asset firms, including the Partnership, violated Section 1 of the Sherman Act by forming multi-sponsor consortiums for the purpose of bidding collectively in company buyout transactions in certain going private transactions, which the plaintiffs allege constitutes a “conspiracy in restraint of trade.” Count One of the complaint alleges an overarching conspiracy relating to certain large buyout transactions. Count Two of the complaint alleges a conspiracy with regard to the buyout of Healthcare Corporation of America. The plaintiffs seek damages as provided for in Section 4 of the Clayton Act and an injunction against such conduct in restraint of trade in the future. The defendants moved for summary judgment on both counts. On March 13, 2013, the U.S. District Court for the District of Massachusetts ruled that plaintiffs could proceed on Count One solely on the basis of an alleged conspiracy to refrain from “jumping” announced proprietary (i.e., non-auction) deals. The Court stated that it would entertain further summary judgment motions by individual defendants as to their participation in the more narrowly-defined alleged conspiracy. The Court also denied summary judgment as to Count Two. On April 16, 2013, Carlyle filed a consolidated motion, renewing its motion for summary judgment on Count One, and moving for reconsideration on Count Two. On April 22, 2013, Carlyle joined a motion seeking reconsideration on Count Two filed on behalf of all Count Two defendants. The U. S. District Court for the District of Massachusetts has not set a schedule for class certification proceedings. Along with many other companies and individuals in the financial sector, Carlyle and CMP are named as defendants in Foy v. Austin Capital, a case filed in June 2009, pending in the State of New Mexico’s First Judicial District Court, County of Santa Fe, which purports to be a qui tam suit on behalf of the State of New Mexico. The suit alleges that investment decisions by New Mexico public investment funds were improperly influenced by campaign contributions and payments to politically connected placement agents. The plaintiffs seek, among other things, actual damages, actual damages for lost income, rescission of the investment transactions described in the complaint and disgorgement of all fees received. In May 2011, the Attorney General of New Mexico moved to dismiss certain defendants including Carlyle and CMP on the grounds that separate civil litigation by the Attorney General is a more effective means to seek recovery for the State from these defendants. The Attorney General has brought two civil actions against certain of those defendants, not including the Carlyle defendants. The Attorney General has stated that its investigation is continuing and it may bring additional civil actions. Carlyle Capital Corporation Limited (“CCC”) was a fund sponsored by Carlyle that invested in AAA-rated residential mortgage backed securities on a highly leveraged basis. In March of 2008, amidst turmoil throughout the mortgage markets and money markets, CCC filed for insolvency protection in Guernsey. Several different lawsuits, described below, developed from the CCC insolvency.
First, on July 13, 2009, a former shareholder of CCC, claiming to have lost $20.0 million, filed a claim against CCC, Carlyle and certain affiliates and one of the Partnership’s officers (Huffington v. TC Group L.L.C., et al.) alleging violations of Massachusetts “blue sky” law provisions relating to material misrepresentations and omissions allegedly made during and after the marketing of CCC. The plaintiff sought treble damages, interest, expenses, attorney’s fees and to have the subscription agreement deemed null and void and to receive a full refund of the investment. In March 2010, the United States District Court for the District of Massachusetts dismissed the plaintiff’s complaint on the grounds that it should have been filed in Delaware instead of Massachusetts based on the forum selection provision in the plaintiff’s subscription agreement. The plaintiff subsequently filed a notice of appeal to the United States Court of Appeals for the First Circuit. The plaintiff lost his appeal to the First Circuit and filed a new claim in Delaware State Court. The Delaware State Court granted in part and denied in part defendants’ motion to dismiss, which was converted to a motion for summary judgment. The plaintiff has since dismissed his claim without any monetary compensation, in exchange for Carlyle’s dismissal of its counterclaim against him for violation of the forum selection clause. Second, in November 2009, another CCC investor, National Industries Group (“National Industries”) instituted legal proceedings on similar grounds in Kuwait’s Court of First Instance (National Industries Group v. Carlyle Group) seeking to recover losses incurred in connection with an investment in CCC. In July 2011, the Delaware Court of Chancery issued a decision restraining National Industries from proceeding in Kuwait against Carlyle Investment Management L.L.C. or TC Group, L.L.C., based on the forum selection clause in National Industries’ subscription agreement, which provided for exclusive jurisdiction in the Delaware courts. In September 2011, National Industries reissued its complaint in Kuwait naming CCC only, and reissued its complaint in January 2012 joining Carlyle Investment Management, L.L.C. as a defendant. In April 2013, the court in Kuwait dismissed National Industries’ claim without prejudice for failure to serve process. In August 2012, National Industries filed a motion to vacate the Delaware Court of Chancery’s decision. The Partnership successfully opposed that motion and the Court’s injunction remains in effect. In November 2012, National Industries filed a notice of appeal. The appeal was heard by the Delaware Supreme Court on May 1, 2013. Third, the Guernsey liquidators who took control of CCC in March 2008 filed four suits on July 7, 2010 against Carlyle, certain of its affiliates and the former directors of CCC in the Delaware Chancery Court, the Royal Court of Guernsey, the Superior Court of the District of Columbia and the Supreme Court of New York, New York County, (Carlyle Capital Corporation Limited v. Conway et al.) seeking $1.0 billion in damages. They allege that Carlyle and the CCC board of directors were negligent, grossly negligent or willfully mismanaged the CCC investment program and breached certain fiduciary duties allegedly owed to CCC and its shareholders. The liquidators further allege (among other things) that the directors and Carlyle put the interests of Carlyle ahead of the interests of CCC and its shareholders and gave priority to preserving and enhancing Carlyle’s reputation and its “brand” over the best interests of CCC. In July 2011, the Royal Court of Guernsey held that the case should be litigated in Delaware pursuant to the exclusive jurisdiction clause in the investment management agreement. That ruling was appealed by the liquidators, and in February 2012 was reversed by the Guernsey Court of Appeal, which held that the case should proceed in Guernsey. Two claims in that case, which sought the return of certain documents and other property purportedly belonging to CCC, were resolved by agreement of the parties and order of the Royal Court of Guernsey in December 2012. Carlyle is now in the process of producing relevant documents to the plaintiffs, who have told the Royal Court of Guernsey that they intend to amend their pleading after receiving and reviewing the documents. A schedule for the case will be set after that amended complaint is filed. Defendants’ attempts to appeal to the Privy Council were unsuccessful and the plaintiffs’ case is proceeding in Guernsey. In addition, the liquidators’ lawsuits in New York and the District of Columbia were dismissed in December 2011 without prejudice. Fourth, on June 21, 2011, August 24, 2011 and September 1, 2011, respectively, three putative shareholder class actions were filed against Carlyle, certain of its affiliates and former directors of CCC alleging that the fund offering materials and various public disclosures were materially misleading or omitted material information. Two of the shareholder class actions (Phelps v. Stomber, et al. and Glaubach v. Carlyle Capital Corporation Limited, et al.) were filed in the United States District Court for the District of Columbia. Phelps v. Stomber, et al. was also filed in the Supreme Court of New York, New York County and was subsequently removed to the United States District Court for the Southern District of New York. The two original D.C. cases were consolidated into one case under the caption of Phelps v. Stomber and the Phelps named plaintiffs were designated “lead plaintiffs” by the Court. The New York case was transferred to the D.C. federal court and the plaintiffs requested that it be consolidated with the other two D.C. actions. The plaintiffs were seeking compensatory damages sustained as a result of the alleged misrepresentations, costs and expenses, as well as reasonable attorney’s fees. On August 13, 2012, the United States District Court for the District of Columbia dismissed both the D.C. and New York shareholder class actions. The plaintiffs have moved for leave to amend their complaint and/or for amendment of the Court’s decision and the defendants have opposed these motions. The plaintiffs also have noticed an appeal to the Court of Appeals for the District of Columbia Circuit, but that appeal is being held in abeyance until the District Court resolves the pending motions. Other Contingencies From 2007 to 2009, a Luxembourg subsidiary of Carlyle Europe Real Estate Partners, L.P. (“CEREP I”), a real estate fund, received proceeds from the sale of real estate located in Paris, France. The relevant French tax authorities have asserted that CEREP I was ineligible to claim certain exemptions from French tax under the Luxembourg-French tax treaty, and have issued a tax assessment seeking to collect approximately €97.0 million, consisting of taxes, interest and penalties. Additionally, the French Ministry of Justice has commenced an investigation regarding the legality under French law of claiming the exemptions under the tax treaty. During 2006, CEREP I completed a reorganization of several Italian subsidiaries. Certain of those Italian subsidiaries sold various properties located in Italy. The Italian tax authorities issued formal notices of assessment to certain of those subsidiaries, in each case, disallowing deductions of certain capital losses claimed with respect to the reorganization of the Italian subsidiaries. If unchallenged, the disallowance of such deductions would increase the aggregate amount owed by such subsidiaries by approximately €25.5 million of income tax, €28.5 million of penalties and €4.9 million of interest (through May 2013) for a total of approximately €59.0 million. CEREP I has a limited period of time during which it may challenge or negotiate a settlement of these amounts and may be required to post collateral up to the full €59.0 million allegedly owed in order to initiate such a challenge. It is possible that the Italian Ministry of Justice could appoint a prosecutor to conduct an investigation. CEREP I and its subsidiaries are contesting the French tax assessment and intend to contest the Italian tax assessment. They are also exploring settlement opportunities. In July 2012, the Partnership provided a guarantee to the French tax authorities as credit support for the €45.7 million tax assessment and in October 2012, placed an additional €4.4 million in escrow, in each case, related to CEREP I. The Partnership expects to incur costs on behalf of CEREP I and its related entities. The Partnership will attempt to recover any amounts advanced or paid from proceeds of subsequent portfolio dispositions by CEREP I. The amount of any unrecoverable costs that may be incurred by the Partnership is not estimable at this time. Commencing with the issuance of the credit support on behalf of CEREP I in July 2012, the Partnership consolidated the fund into its condensed consolidated financial statements. As of March 31, 2013, CEREP I had accrued €50.0 million ($64.1 million as of March 31, 2013) related to this contingency, which is included in other liabilities of Consolidated Funds in the condensed consolidated financial statements. Indemnifications In the normal course of business, the Partnership and its subsidiaries enter into contracts that contain a variety of representations and warranties and provide general indemnifications. The Partnership’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Partnership that have not yet occurred. However, based on experience, the Partnership believes the risk of material loss to be remote.
Risks and Uncertainties Carlyle’s funds seek investment opportunities that offer the possibility of attaining substantial capital appreciation. Certain events particular to each industry in which the underlying investees conduct their operations, as well as general economic conditions, may have a significant negative impact on the Partnership’s investments and profitability. Such events are beyond the Partnership’s control, and the likelihood that they may occur and the effect on the Partnership cannot be predicted. Furthermore, certain of the funds’ investments are made in private companies and there are generally no public markets for the underlying securities at the current time. The funds’ ability to liquidate their publicly-traded investments are often subject to limitations, including discounts that may be required to be taken on quoted prices due to the number of shares being sold. The funds’ ability to liquidate their investments and realize value is subject to significant limitations and uncertainties, including among others currency fluctuations and natural disasters. The funds make investments outside of the United States. Investments outside the U.S. may be subject to less developed bankruptcy, corporate, partnership and other laws (which may have the effect of disregarding or otherwise circumventing the limited liability structures potentially causing the actions or liabilities of one fund or a portfolio company to adversely impact the Partnership or an unrelated fund or portfolio company). Non-U.S. investments are subject to the same risks associated with the Partnership’s U.S. investments as well as additional risks, such as fluctuations in foreign currency exchange rates, unexpected changes in regulatory requirements, heightened risk of political and economic instability, difficulties in managing non-U.S. investments, potentially adverse tax consequences and the burden of complying with a wide variety of foreign laws. Furthermore, Carlyle is exposed to economic risk concentrations related to certain large investments as well as concentrations of investments in certain industries and geographies. Additionally, the Partnership encounters credit risk. Credit risk is the risk of default by a counterparty in the Partnership’s investments in debt securities, loans, leases and derivatives that result from a borrower’s, lessee’s or derivative counterparty’s inability or unwillingness to make required or expected payments. The Partnership considers cash, cash equivalents, securities, receivables, equity-method investments, accounts payable, accrued expenses, other liabilities, loans payable, senior notes, assets and liabilities of Consolidated Funds and contingent and other consideration for acquisitions to be its financial instruments. The carrying amounts reported in the condensed consolidated balance sheets for these financial instruments equal or closely approximate their fair values.
Termination Costs Employee and office lease termination costs are included in accrued compensation and benefits and accounts payable, accrued expenses and other liabilities in the condensed consolidated balance sheets as well as general, administrative and other expenses in the condensed consolidated statements of operations. As of March 31, 2013 and December 31, 2012, the accrual for termination costs primarily represents (1) lease obligations associated with closed offices, and (2) severance costs related to terminated employees, which represents management’s estimate of the total amount expected to be incurred. The changes in the accrual for termination costs for the three months ended March 31, 2013 and 2012 are as follows:
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- Definition
The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions
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Mar. 31, 2013
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| Related Party Transactions |
Due from Affiliates and Other Receivables, Net The Partnership had the following due from affiliates and other receivables at March 31, 2013 and December 31, 2012:
Notes receivable represent loans that the Partnership has provided to certain unconsolidated funds to meet short-term obligations to purchase investments. Other receivables from certain of the unconsolidated funds and portfolio companies relate to management fees receivable from limited partners, advisory fees receivable and expenses paid on behalf of these entities. These costs represent costs related to the pursuit of actual or proposed investments, professional fees and expenses associated with the acquisition, holding and disposition of the investments. The affiliates are obligated at the discretion of the Partnership to reimburse the expenses. Based on management’s determination, the Partnership accrues and charges interest on amounts due from affiliate accounts at interest rates ranging up to 5.63% as of March 31, 2013. The accrued and charged interest to the affiliates was not significant for any period presented. These receivables are assessed regularly for collectability and amounts determined to be uncollectible are charged directly to general, administrative and other expenses in the condensed consolidated statements of operations. A corresponding allowance for doubtful accounts is recorded and such amounts were not significant for any period presented.
Due to Affiliates The Partnership had the following due to affiliates balances at March 31, 2013 and December 31, 2012:
The Partnership has recorded obligations for amounts due to certain of its affiliates. The Partnership periodically offsets expenses it has paid on behalf of its affiliates against these obligations. The amount owed under the tax receivable agreement is related to the exchange in May 2012 by CalPERS of its Carlyle Holdings partnership units for Partnership common units. Other Related Party Transactions In the normal course of business, the Partnership has made use of aircraft owned by entities controlled by senior Carlyle professionals. The senior Carlyle professionals paid for their purchases of the aircraft and bear all operating, personnel and maintenance costs associated with their operation for personal use. Payment by the Partnership for the business use of these aircraft by senior Carlyle professionals and other employees is made at market rates, which totaled $2.7 million and $1.8 million for the three months ended March 31, 2013 and 2012, respectively. These fees are included in general, administrative, and other expenses in the condensed consolidated statements of operations. Senior Carlyle professionals and employees are permitted to participate in co-investment entities that invest in Carlyle funds or alongside Carlyle funds. In many cases, participation is limited by law to individuals who qualify under applicable legal requirements. These co-investment entities generally do not require senior Carlyle professionals and employees to pay management or performance fees. Carried interest income from the funds can be distributed to senior Carlyle professionals and employees on a current basis, but is subject to repayment by the subsidiary of the Partnership that acts as general partner of the fund in the event that certain specified return thresholds are not ultimately achieved. The senior Carlyle professionals and certain other investment professionals have personally guaranteed, subject to certain limitations, the obligation of these subsidiaries in respect of this general partner obligation. Such guarantees are several and not joint and are limited to a particular individual’s distributions received. The Partnership does business with some of its portfolio companies; all such arrangements are on a negotiated basis. Substantially all revenue is earned from affiliates of Carlyle. |
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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Mar. 31, 2013
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| Income Taxes |
The Partnership is organized primarily as a series of pass through entities pursuant to the United States Internal Revenue Code. As such, the Partnership is not responsible for the tax liability due on certain income earned during the year. Such income is taxed at the unitholder and non-controlling interest holder level, and any tax on such income is the responsibility of the unitholders and is paid at that level. The Partnership’s income tax expense was $24.9 million and $11.7 million for the three months ended March 31, 2013 and 2012, respectively.
In the normal course of business, the Partnership is subject to examination by federal and certain state, local and foreign tax regulators. As of March 31, 2013, the Partnership’s U.S. federal income tax returns for the years 2009 through 2011 are open under the normal three-year statute of limitations and therefore subject to examination. State and local tax returns are generally subject to audit from 2008 to 2012. Foreign tax returns are generally subject to audit from 2005 to 2012. Certain of the Partnership’s foreign subsidiaries are currently under audit by foreign tax authorities. The Partnership does not believe that the outcome of these audits will require it to record reserves for uncertain tax positions or that the outcome will have a material impact on the condensed consolidated financial statements. The Partnership does not believe that it has any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within the next twelve months. |
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- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Non-controlling Interests in Consolidated Entities
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Mar. 31, 2013
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| Non-controlling Interests in Consolidated Entities |
The components of the Partnership’s non-controlling interests in consolidated entities are as follows:
The components of the Partnership’s non-controlling interests in income (loss) of consolidated entities are as follows:
There have been no significant changes in the Partnership’s ownership interests in its consolidated entities for the periods presented. |
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- Definition
The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Common Unit
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Mar. 31, 2013
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| Earnings Per Common Unit |
Prior to the reorganization and the initial public offering in May 2012, Carlyle’s business was conducted through a large number of entities as to which there was no single holding entity, but which were separately owned by the senior Carlyle professionals, CalPERS, and Mubadala. There was no single capital structure upon which to calculate historical earnings per common unit information. Accordingly, earnings per common unit information has not been presented for historical periods prior to the reorganization and initial public offering. The weighted-average common units outstanding, basic and diluted, are calculated as follows:
The weighted-average common units outstanding of The Carlyle Group L.P. includes vested deferred restricted common units for which issuance of the related common units is deferred until May 2013. The Partnership applies the treasury stock method to determine the dilutive weighted-average common units represented by the unvested deferred restricted common units. Included in the determination of dilutive weighted-average common units are contingently issuable Carlyle Holdings partnership units associated with the Claren Road and Vermillion acquisitions. For purposes of determining the dilutive weighted-average common units, it is assumed that March 31, 2013 represents the end of the contingency period and the “if-converted” method is applied to the Carlyle Holdings partnership units issuable therefrom. The Partnership applies the “if-converted” method to the vested Carlyle Holdings partnership units to determine the dilutive weighted-average common units outstanding. The Partnership applies the treasury stock method to the unvested Carlyle Holdings partnership units and the “if-converted” method on the resulting number of additional Carlyle Holdings partnership units to determine the dilutive weighted-average common units represented by the unvested Carlyle Holdings partnership units. In computing the dilutive effect that the exchange of Carlyle Holdings partnership units would have on earnings per common unit, the Partnership considered that net income available to holders of common units would increase due to the elimination of non-controlling interests in Carlyle Holdings (including any tax impact). Based on these calculations, the incremental 226,419,959 of vested and unvested Carlyle Holdings partnership units for the three months ended March 31, 2013 were antidilutive, and therefore have been excluded. Basic and diluted net income per common unit are calculated as follows:
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- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Equity-Based Compensation
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Mar. 31, 2013
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| Equity-Based Compensation |
In May 2012, Carlyle Group Management L.L.C., the general partner of the Partnership, adopted The Carlyle Group L.P. 2012 Equity Incentive Plan (the “Equity Incentive Plan”). The Equity Incentive Plan is a source of new equity-based awards permitting the Partnership to grant to Carlyle employees, directors of the Partnership’s general partner and consultants non-qualified options, unit appreciation rights, common units, restricted common units, deferred restricted common units, phantom restricted common units and other awards based on the Partnership’s common units and Carlyle Holdings partnership units. The total number of the Partnership’s common units and Carlyle Holdings partnership units which were initially available for grant under the Equity Incentive Plan was 30,450,000. The Equity Incentive Plan contains a provision which automatically increases the number of the Partnership’s common units and Carlyle Holdings partnership units available for grant based on a pre-determined formula; this increase occurs annually on January 1. As of January 1, 2013, pursuant to the formula, the total number of the Partnership’s common units and Carlyle Holdings partnership units available for grant under the Equity Incentive Plan was 30,611,743. Unvested Carlyle Holdings Partnership Units The unvested Carlyle Holdings partnership units are held by senior Carlyle professionals and other individuals engaged in Carlyle’s business and vest ratably over a six-year period. The unvested Carlyle Holdings partnership units are accounted for as equity-based compensation in accordance with ASC Topic 718, Compensation – Stock Compensation. The grant-date fair value of the unvested Carlyle Holdings partnership units are charged to equity-based compensation expense on a straight-line basis over the required service period. Additionally, the calculation of the expense assumes a forfeiture rate of up to 7.5%. For the three months ended March 31, 2013, the Partnership recorded $39.0 million in equity-based compensation expense associated with these awards. No tax benefits have been recorded related to the unvested Carlyle Holdings partnership units, as the vesting of these units does not result in a tax deduction to the corporate taxpayers. In connection with the Partnership’s investment in NGP Management in December 2012, the Partnership issued 996,572 Carlyle Holdings partnership units to ECM Capital, L.P. which vest ratably over a period of five years. The Partnership also issued 597,944 Carlyle Holdings partnership units to ECM Capital, L.P. that were issued at closing but vest upon the achievement of performance conditions. The fair value of these units will be recognized as a reduction to the Partnership’s investment income in NGP Management over the relevant service or performance period, based on the fair value of the units on each reporting date and adjusted for the actual fair value of the units at each vesting date. For the Carlyle Holdings partnership units that vest based on the achievement of performance conditions, the Partnership uses the minimum number of partnership units within the range of potential values for measurement and recognition purposes. As of March 31, 2013, the total unrecognized compensation expense related to unvested Carlyle Holdings partnership units, considering estimated forfeitures, is $931.5 million, which is expected to be recognized over a weighted-average term of 5.1 years. Deferred Restricted Common Units The deferred restricted common units are unvested when granted and vest ratably over a service period, which ranges up to six years. The grant-date fair value of the deferred restricted common units granted to Carlyle’s employees are charged to equity-based compensation expense on a straight-line basis over the required service period. Additionally, the calculation of the expense assumes a forfeiture rate up to 15.0%. For the three months ended March 31, 2013, the Partnership recorded $12.3 million in equity-based compensation expense, with $0.8 million of corresponding deferred tax benefits. As of March 31, 2013, the total unrecognized compensation expense related to unvested deferred restricted common units, considering estimated forfeitures, is $298.7 million, which is expected to be recognized over a weighted-average term of 4.9 years. Equity-based awards issued to non-employees are recognized as general, administrative and other expenses. The expense associated with the deferred restricted common units granted to NGP personnel by the Partnership are recognized as a reduction of the Partnership’s investment income in NGP Management. The grant-date fair value of deferred restricted common units granted to Carlyle’s non-employee directors are charged to expense on a straight-line basis over the vesting period. The cost of services received in exchange for an equity-based award issued to consultants is measured at each vesting date. Equity-based awards that require the satisfaction of future service criteria are recognized over the relevant service period, adjusted for estimated forfeitures of awards not expected to vest, based on the fair value of the award on each reporting date and adjusted for the actual fair value of the award at each vesting date. The expense for equity-based awards issued to non-employees was not significant for the three months ended March 31, 2013. Phantom Deferred Restricted Common Units The phantom deferred restricted common units are unvested when granted and vest ratably over a service period of three years. Upon vesting, the units will be settled in cash. As the phantom deferred restricted common units will be settled in cash, they are accounted for as liability awards. The fair value of the units is re-measured at each reporting period until settlement and charged to compensation expense over the vesting period. Additionally, the calculation of the expense assumes a forfeiture rate of up to 15.0%. For the three months ended March 31, 2013, the Partnership recorded $1.0 million in compensation expense associated with these awards, which is included in base compensation expense in the accompanying condensed consolidated financial statements. The tax benefits recognized from these awards was not material during the period. As of March 31, 2013, the total unrecognized compensation expense related to unvested phantom deferred restricted common units, considering estimated forfeitures, is $7.2 million, which is expected to be recognized over a weighted-average term of 2.1 years.
A summary of the status of the Partnership’s non-vested equity-based awards as of March 31, 2013 and a summary of changes during the three months ended March 31, 2013, are presented below:
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- Definition
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Reporting
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Mar. 31, 2013
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| Segment Reporting |
Carlyle conducts its operations through four reportable segments: Corporate Private Equity – The Corporate Private Equity segment is comprised of the Partnership’s operations that advise a diverse group of funds that invest in buyout and growth capital transactions that focus on either a particular geography or a particular industry. Global Market Strategies – The Global Market Strategies segment advises a group of funds that pursue investment opportunities across various types of credit, equities and alternative instruments, and (as regards certain macroeconomic strategies) currencies, commodities, sovereign debt, and interest rate products and their derivatives. Real Assets – The Real Assets segment is comprised of the Partnership’s operations that advise U.S. and international funds focused on real estate, infrastructure, energy and renewable energy transactions. Solutions – The Solutions segment was launched upon the Partnership’s acquisition of a 60% equity interest in AlpInvest on July 1, 2011 and advises a global private equity fund of funds program and related co-investment and secondary activities. The Partnership’s reportable business segments are differentiated by their various investment focuses and strategies. Overhead costs were allocated based on direct base compensation expense for the funds comprising each segment. The Partnership includes adjustments to reflect the Partnership’s economic interests in Claren Road, AlpInvest, ESG and Vermillion. The Partnership’s earnings from its investment in NGP Management are presented in the respective operating captions within the Real Assets segment. Economic Net Income (“ENI”) and its components are key performance measures used by management to make operating decisions and assess the performance of the Partnership’s reportable segments. ENI differs from income (loss) before provision for income taxes computed in accordance with U.S. GAAP in that it does not include net income (loss) attributable to non-Carlyle interests in Consolidated Funds or charges (credits) related to Carlyle corporate actions and non-recurring items. Charges (credits) related to Carlyle corporate actions and non-recurring items include: charges associated with equity-based compensation that was issued in the initial public offering in May 2012 or is issued in acquisitions or strategic investments, amortization associated with acquired intangible assets, transaction costs associated with acquisitions, gains and losses associated with the mark to market on contingent consideration issued in conjunction with acquisitions or strategic investments, gains and losses from the retirement of debt, charges associated with lease terminations and employee severance, and settlements of legal claims.
Also, for periods prior to the reorganization and initial public offering in May 2012, ENI also differed from income (loss) before provision for income taxes computed in accordance with U.S. GAAP in that ENI reflected a charge for compensation, bonuses and performance fee compensation attributable to Carlyle partners. Subsequent to the reorganization and initial public offering, these compensation charges are included in both ENI and income (loss) before provision for income taxes computed in accordance with U.S. GAAP. Fee related earnings (“FRE”) is a component of ENI and is used to assess the ability of the business to cover direct base compensation and operating expenses from total fee revenues. FRE differs from income (loss) before provision for income taxes computed in accordance with U.S. GAAP in that it adjusts for the items included in the calculation of ENI and also adjusts ENI to exclude performance fees, investment income from investments in Carlyle funds, and performance fee related compensation. Distributable earnings is a component of ENI and is used to assess performance and amounts potentially available for distribution. Distributable earnings differs from income (loss) before provision for income taxes computed in accordance with U.S. GAAP in that it adjusts for the items included in the calculation of ENI and also adjusts ENI for unrealized performance fees, unrealized investment income and the corresponding unrealized performance fee compensation expense. ENI and its components are used by management primarily in making resource deployment and compensation decisions across the Partnership’s four reportable segments. Management makes operating decisions and assesses the performance of each of the Partnership’s business segments based on financial and operating metrics and data that is presented without the consolidation of any of the Consolidated Funds. Consequently, ENI and all segment data exclude the assets, liabilities and operating results related to the Consolidated Funds.
The following table presents the financial data for the Partnership’s four reportable segments as of and for the three months ended March 31, 2013:
The following table presents the financial data for the Partnership’s four reportable segments for the three months ended March 31, 2012:
The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes as of and for the three months ended March 31, 2013:
The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes for the three months ended March 31, 2012:
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events
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Mar. 31, 2013
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| Subsequent Events |
In May 2013, the Board of Directors of the general partner of the Partnership declared a quarterly distribution of $0.16 to common unit holders of record at the close of business on May 20, 2013, payable on May 31, 2013. |
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Supplemental Financial Information
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Mar. 31, 2013
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| Supplemental Financial Information |
The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Partnership’s financial position as of March 31, 2013 and December 31, 2012 and results of operations for the three months ended March 31, 2013 and 2012. The supplemental statement of cash flows is presented without effects of the Consolidated Funds.
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- Definition
The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement. No definition available.
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Summary of Significant Accounting Policies (Policies)
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Mar. 31, 2013
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| Principles of Consolidation | Principles of Consolidation The Partnership consolidates all entities that it controls through a majority voting interest or otherwise. In addition, the accompanying condensed consolidated financial statements consolidate: 1) Carlyle-affiliated funds and co-investment entities, for which the Partnership is the sole general partner and the presumption of control by the general partner has not been overcome and 2) variable interest entities (“VIE“s), including certain CLOs, for which the Partnership is deemed to be the primary beneficiary; consolidation of these entities is a requirement under U.S. GAAP. All significant inter-entity transactions and balances have been eliminated. For entities that are determined to be VIEs, the Partnership consolidates those entities where it is deemed to be the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity’s business and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The revised consolidation rules require an analysis to (a) determine whether an entity in which the Partnership holds a variable interest is a VIE and (b) whether the Partnership’s involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance related fees), would give it a controlling financial interest. In evaluating whether the Partnership is the primary beneficiary, the Partnership evaluates its economic interests in the entity held either directly or indirectly by the Partnership. The consolidation analysis is generally performed qualitatively. This analysis, which requires judgment, is performed at each reporting date.
In February 2010, Accounting Standards Update (“ASU”) No. 2010-10, “Amendments for Certain Investment Funds,” was issued. This ASU defers the application of the revised consolidation rules for a reporting enterprise’s interest in an entity if certain conditions are met, including if the entity has the attributes of an investment company and is not a securitization or asset-backed financing entity. An entity that qualifies for the deferral will continue to be assessed for consolidation under the overall guidance on VIEs, before its amendment, and other applicable consolidation guidance. As of March 31, 2013, assets and liabilities of consolidated VIEs reflected in the condensed consolidated balance sheets were $24.3 billion and $16.0 billion, respectively. Except to the extent of the assets of the VIEs which are consolidated, the holders of the consolidated VIEs’ liabilities do not have recourse to the Partnership. The assets and liabilities of the consolidated VIEs are comprised primarily of investments and loans payable, respectively. The loans payable issued by the CLOs are backed by diversified collateral asset portfolios consisting primarily of loans or structured debt. In exchange for managing the collateral for the CLOs, the Partnership earns investment management fees, including in some cases subordinated management fees and contingent incentive fees. In cases where the Partnership consolidates the CLOs, those management fees have been eliminated as intercompany transactions. As of March 31, 2013, the Partnership held $53.9 million of investments in these CLOs which represents its maximum risk of loss. The Partnership’s investments in these CLOs are generally subordinated to other interests in the entities and entitle the Partnership to receive a pro rata portion of the residual cash flows, if any, from the entities. Investors in the CLOs have no recourse against the Partnership for any losses sustained in the CLO structure. For all Carlyle-affiliated funds and co-investment entities (collectively “the Funds”) that are not determined to be VIEs, the Partnership consolidates those funds where, as the sole general partner, it has not overcome the presumption of control pursuant to U.S. GAAP. Most Carlyle funds provide a dissolution right upon a simple majority vote of the non-Carlyle affiliated limited partners such that the presumption of control by Carlyle is overcome. Accordingly, these funds are not consolidated in the Partnership’s condensed consolidated financial statements. |
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| Investments in Unconsolidated Variable Interest Entities | Investments in Unconsolidated Variable Interest Entities The Partnership holds variable interests in certain VIEs which are not consolidated because the Partnership is not the primary beneficiary. The Partnership’s involvement with such entities is in the form of direct equity interests and fee arrangements. The maximum exposure to loss represents the loss of assets recognized by the Partnership relating to these unconsolidated entities. The assets recognized in the Partnership’s condensed consolidated balance sheets related to the Partnership’s interests in these non-consolidated VIEs and the Partnership’s maximum exposure to loss relating to non-consolidated VIEs were as follows:
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| Basis of Accounting | Basis of Accounting The accompanying financial statements are prepared in accordance with U.S. GAAP. Management has determined that the Partnership’s Funds are investment companies under U.S. GAAP for the purposes of financial reporting. U.S. GAAP for an investment company requires investments to be recorded at estimated fair value and the unrealized gains and/or losses in an investment’s fair value are recognized on a current basis in the statements of operations. Additionally, the Funds do not consolidate their majority-owned and controlled investments (the Portfolio Companies). In the preparation of these condensed consolidated financial statements, the Partnership has retained the specialized accounting for the Funds, pursuant to U.S. GAAP. All of the investments held and notes issued by the Consolidated Funds are presented at their estimated fair values in the Partnership’s condensed consolidated balance sheets. Interest income and other income of the Consolidated Funds is included in interest and other income of Consolidated Funds and interest expense and other expenses of the Consolidated Funds is included in interest and other expenses of Consolidated Funds in the Partnership’s condensed consolidated statements of operations. The excess of the CLO assets over the CLO liabilities upon consolidation is reflected in the Partnership’s condensed consolidated balance sheets as partners’ capital appropriated for Consolidated Funds. Net income attributable to the investors in the CLOs is included in net income (loss) attributable to non-controlling interests in consolidated entities in the condensed consolidated statements of operations and partners’ capital appropriated for Consolidated Funds in the condensed consolidated balance sheets. |
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| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make assumptions and estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management’s estimates are based on historical experiences and other factors, including expectations of future events that management believes to be reasonable under the circumstances. It also requires management to exercise judgment in the process of applying the Partnership’s accounting policies. Assumptions and estimates regarding the valuation of investments and their resulting impact on performance fees involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the condensed consolidated financial statements and the resulting impact on performance fees. Actual results could differ from these estimates and such differences could be material. |
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| Business Combinations | Business Combinations The Partnership accounts for business combinations using the acquisition method of accounting, under which the purchase price of the acquisition is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. Contingent consideration obligations that are elements of consideration transferred are recognized as of the acquisition date as part of the fair value transferred in exchange for the acquired business. Acquisition-related costs incurred in connection with a business combination are expensed. |
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| Fund Management Fees | Fund Management Fees The Partnership provides management services to funds in which it holds a general partner interest or has a management agreement. For corporate private equity, certain global market strategies funds and real assets funds, management fees are calculated based on (a) limited partners’ capital commitments to the funds, (b) limited partners’ remaining capital invested in the funds at cost or (c) the net asset value (“NAV”) of certain of the funds, less offsets for the non-affiliated limited partners’ share of transaction advisory and portfolio fees earned, as defined in the respective partnership agreements. Management fees for corporate private equity, closed-end carry funds in the global market strategies segment and real assets funds generally range from 1% to 2% of commitments during the investment period of the relevant fund. Following the expiration or termination of the investment period of such funds, the management fees generally step-down to between 0.6% and 2.0% of contributions for unrealized investments. The Partnership will receive management fees for corporate private equity and real assets funds during a specified period of time, which is generally ten years from the initial closing date, or in some instances, from the final closing date, but such termination date may be earlier in certain limited circumstances or later if extended for successive one-year periods, typically up to a maximum of two years. Depending upon the contracted terms of investment advisory or investment management and related agreements, these fees are generally called semi-annually in advance and are recognized as earned over the subsequent six month period. For certain global market strategies funds, management fees are calculated based on assets under management of the funds with generally lower fee rates. Hedge funds typically pay management fees quarterly that generally range from 1.5% to 3.0% of NAV per year. Management fees for the CLOs typically range from 0.4% to 0.6% on the total par amount of assets in the fund and are due quarterly or semi-annually based on the terms and recognized over the respective period. Management fees for the CLOs and credit opportunities funds are governed by indentures and collateral management agreements. The Partnership will receive management fees for the CLOs until redemption of the securities issued by the CLOs, which is generally five to ten years after issuance. Open-ended funds typically do not have stated termination dates. Management fees from fund of funds vehicles generally range from 0.3% to 1.0% on the vehicle’s capital commitments during the commitment fee period of the relevant fund. Following the expiration of the commitment fee period of such funds, the management fees generally range from 0.3% to 1.0% on the lower of cost or fair value of the capital invested. These fees are due quarterly and recognized over the related quarter. The Partnership also provides transaction advisory and portfolio advisory services to the Portfolio Companies, and where covered by separate contractual agreements, recognizes fees for these services when the service has been provided and collection is reasonably assured. Fund management fees includes transaction and portfolio advisory fees of $15.0 million and $10.7 million for the three months ended March 31, 2013 and 2012, respectively, net of any offsets as defined in the respective partnership agreements. |
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| Performance Fees | Performance Fees Performance fees consist principally of the allocation of profits from certain of the funds to which the Partnership is entitled (commonly known as carried interest). The Partnership is generally entitled to a 20% allocation (or approximately 2% to 10% in the case of most of the Partnership’s fund of funds vehicles) of the net realized income or gain as a carried interest after returning the invested capital, the allocation of preferred returns and return of certain fund costs (generally subject to catch-up provisions) from its corporate private equity and real assets funds. Carried interest is recognized upon appreciation of the funds’ investment values above certain return hurdles set forth in each respective partnership agreement. The Partnership recognizes revenues attributable to performance fees based upon the amount that would be due pursuant to the fund partnership agreement at each period end as if the funds were terminated at that date. Accordingly, the amount recognized as total performance fees reflects the Partnership’s share of the gains and losses of the associated funds’ underlying investments measured at their then-current fair values. Because of the inherent uncertainty, these estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and it is reasonably possible that the difference could be material. Carried interest is ultimately realized when: (i) an underlying investment is profitably disposed of, (ii) certain costs borne by the limited partner investors have been reimbursed, (iii) the fund’s cumulative returns are in excess of the preferred return and (iv) the Partnership has decided to collect carry rather than return additional capital to limited partner investors. Realized carried interest may be required to be returned by the Partnership in future periods if the funds’ investment values decline below certain levels. When the fair value of a fund’s investments remains constant or falls below certain return hurdles, previously recognized performance fees are reversed. In all cases, each fund is considered separately in this regard, and for a given fund, performance fees can never be negative over the life of a fund. If upon a hypothetical liquidation of a fund’s investments at their then current fair values, previously recognized and distributed carried interest would be required to be returned, a liability is established for the potential giveback obligation. As of March 31, 2013 and December 31, 2012, the Partnership has recognized $46.3 million and $69.2 million, respectively, for giveback obligations.
In addition to its performance fees from its corporate private equity and real assets funds, the Partnership is also entitled to receive performance fees from certain of its global market strategies funds and fund of funds vehicles when the return on assets under management exceeds certain benchmark returns or other performance targets. In such arrangements, performance fees are recognized when the performance benchmark has been achieved, and are included in performance fees in the accompanying condensed consolidated statements of operations. |
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| Investment Income (Loss) | Investment Income (Loss) Investment income (loss) represents the unrealized and realized gains and losses resulting from the Partnership’s equity method investments and other principal investments. Equity method investment income (loss) includes the related amortization of the basis difference between the Partnership’s carrying value of its investment and the Partnership’s share of underlying net assets of the investee, as well as the compensation expense associated with compensatory arrangements provided by the Partnership to employees of its equity method investee. Investment income (loss) is realized when the Partnership redeems all or a portion of its investment or when the Partnership receives or is due cash income, such as dividends or distributions. Unrealized investment income (loss) results from changes in the fair value of the underlying investment as well as the reversal of unrealized gain (loss) at the time an investment is realized. |
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| Interest Income | Interest Income Interest income is recognized when earned. Interest income earned by the Partnership was $0.5 million and $1.4 million for the three months ended March 31, 2013 and 2012, respectively, and is included in interest and other income in the accompanying condensed consolidated statements of operations. Interest income of the Consolidated Funds was $230.6 million and $184.0 million for the three months ended March 31, 2013 and 2012, respectively, and is included in interest and other income of Consolidated Funds in the accompanying condensed consolidated statements of operations. |
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| Compensation and Benefits | Compensation and Benefits Base Compensation – Base compensation includes salaries, bonuses (discretionary awards and guaranteed amounts), performance payment arrangements and benefits paid and payable to Carlyle employees. Bonuses are accrued over the service period to which they relate. Equity-Based Compensation – Compensation expense relating to the issuance of equity-based awards to Carlyle employees is measured at fair value on the grant date. The compensation expense for awards that vest over a future service period is recognized over the relevant service period on a straight-line basis, adjusted for estimated forfeitures of awards not expected to vest. The compensation expense for awards that do not require future service is recognized immediately. Cash settled equity-based awards are classified as liabilities and are re-measured at the end of each reporting period. Equity-based awards issued to non-employees are recognized as general, administrative and other expenses. The grant-date fair value of equity-based awards granted to Carlyle’s non-employee directors is expensed on a straight-line basis over the vesting period. The cost of services received in exchange for an equity-based award issued to consultants is measured at each vesting date, and is not measured based on the grant-date fair value of the award unless the award is vested at the grant date. Equity-based awards that require the satisfaction of future service criteria are recognized over the relevant service period, adjusted for estimated forfeitures of awards not expected to vest, based on the fair value of the award on each reporting date and adjusted for the actual fair value of the award at each vesting date. Accordingly, the measured value of the award will not be finalized until the vesting date.
Performance Fee Related Compensation – A portion of the performance fees earned is due to employees and advisors of the Partnership. These amounts are accounted for as compensation expense in conjunction with the recognition of the related performance fee revenue and, until paid, are recognized as a component of the accrued compensation and benefits liability. Accordingly, upon any reversal of performance fee revenue, the related compensation expense is also reversed. As of March 31, 2013 and December 31, 2012, the Partnership had recorded a liability of $1.1 billion and $912.0 million, respectively, in accrued compensation related to the portion of accrued performance fees due to employees and advisors, which was included in accrued compensation and benefits in the accompanying condensed consolidated financial statements. |
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| Income Taxes | Income Taxes For periods prior to the reorganization and initial public offering in May 2012, no provision was made for U.S. federal income taxes in the condensed consolidated financial statements since the profits and losses were allocated to the senior Carlyle professionals who were individually responsible for reporting such amounts. During those periods, based on applicable foreign, state and local tax laws, a provision for income taxes was recorded for certain entities. For periods subsequent to the reorganization and initial public offering in May 2012, certain of the wholly-owned subsidiaries of the Partnership and the Carlyle Holdings partnerships are subject to federal, state and local corporate income taxes at the entity level and the related tax provision attributable to the Partnership’s share of this income is reflected in the condensed consolidated financial statements. Based on applicable foreign, state and local tax laws, the Partnership records a provision for income taxes for certain entities. AlpInvest Partners B.V. (“AlpInvest”), a subsidiary of the Partnership, is subject to entity level income taxes in the Netherlands. Tax positions taken by the Partnership are subject to periodic audit by U.S. federal, state, local and foreign taxing authorities. The Partnership uses the liability method of accounting for deferred income taxes pursuant to U.S. GAAP. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the carrying value of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using the statutory tax rates expected to be applied in the periods in which those temporary differences are settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the period of the change. A valuation allowance is recorded on the Partnership’s net deferred tax assets when it is more likely than not that such assets will not be realized. When evaluating the realizability of the Partnership’s deferred tax assets, all evidence, both positive and negative is evaluated. Items considered in this analysis include the ability to carry-back losses, the reversal of temporary differences, tax planning strategies, and expectations of future earnings. Under U.S. GAAP for income taxes, the amount of tax benefit to be recognized is the amount of benefit that is “more likely than not” to be sustained upon examination. The Partnership analyzes its tax filing positions in all of the U.S. federal, state, local and foreign tax jurisdictions where it is required to file income tax returns, as well as for all open tax years in these jurisdictions. If, based on this analysis, the Partnership determines that uncertainties in tax positions exist, a liability is established, which is included in accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements. The Partnership recognizes accrued interest and penalties related to unrecognized tax positions in the provision for income taxes. If recognized, the entire amount of unrecognized tax positions would be recorded as a reduction in the provision for income taxes. |
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| Tax Receivable Agreement | Tax Receivable Agreement Exchanges of Carlyle Holdings partnership units for the Partnership’s common units that are executed by the limited partners of the Carlyle Holdings partnerships result in transfers of and increases in the tax basis of the tangible and intangible assets of Carlyle Holdings, primarily attributable to a portion of the goodwill inherent in the business. These transfers and increases in tax basis will increase (for tax purposes) depreciation and amortization and therefore reduce the amount of tax that certain of the Partnership’s subsidiaries, including Carlyle Holdings I GP Inc., which are referred to as the “corporate taxpayers,” would otherwise be required to pay in the future. This increase in tax basis may also decrease gain (or increase loss) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. The Partnership has entered into a tax receivable agreement with the limited partners of the Carlyle Holdings partnerships whereby the corporate taxpayers have agreed to pay to the limited partners of the Carlyle Holdings partnerships involved in any exchange transaction 85% of the amount of cash tax savings, if any, in U.S. federal, state and local income tax or foreign or franchise tax that the corporate taxpayers realize as a result of these increases in tax basis and, in limited cases, transfers or prior increases in tax basis. The corporate taxpayers expect to benefit from the remaining 15% of cash tax savings, if any, in income tax they realize. Payments under the tax receivable agreement will be based on the tax reporting positions that the Partnership will determine. The corporate taxpayers will not be reimbursed for any payments previously made under the tax receivable agreement if a tax basis increase is successfully challenged by the Internal Revenue Service. The Partnership records an increase in deferred tax assets for the estimated income tax effects of the increases in tax basis based on enacted federal and state tax rates at the date of the exchange. To the extent that the Partnership estimates that the corporate taxpayers will not realize the full benefit represented by the deferred tax asset, based on an analysis that will consider, among other things, its expectation of future earnings, the Partnership will reduce the deferred tax asset with a valuation allowance. The Partnership records 85% of the estimated realizable tax benefit (which is the recorded deferred tax asset less any recorded valuation allowance) as an increase to the liability due under the tax receivable agreement, which is included in due to affiliates in the accompanying condensed consolidated financial statements. The remaining 15% of the estimated realizable tax benefit is initially recorded as an increase to the Partnership’s partners’ capital. All of the effects to the deferred tax asset of changes in any of the Partnership’s estimates after the tax year of the exchange will be reflected in the provision for income taxes. Similarly, the effect of subsequent changes in the enacted tax rates will be reflected in the provision for income taxes. |
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| Non-controlling Interests in Consolidated Entities | Non-controlling Interests in Consolidated Entities Non-controlling interests in consolidated entities represent the component of equity in consolidated entities held by third party investors. These interests are adjusted for general partner allocations and by subscriptions and redemptions in hedge funds which occur during the reporting period. Non-controlling interests related to hedge funds are subject to quarterly or monthly redemption by investors in these funds following the expiration of a specified period of time (typically one year), or may be withdrawn subject to a redemption fee during the period when capital may not be withdrawn. As limited partners in these types of funds have been granted redemption rights, amounts relating to third-party interests in such consolidated funds are presented as redeemable non-controlling interests in consolidated entities within the condensed consolidated balance sheets. When redeemable amounts become contractually payable to investors, they are classified as a liability and included in other liabilities of Consolidated Funds in the condensed consolidated balance sheets. |
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| Earnings Per Common Unit | Earnings Per Common Unit The Partnership computes earnings per common unit in accordance with Accounting Standards Codification (“ASC”) 260, “Earnings Per Share.” Basic earnings per common unit is calculated by dividing net income (loss) attributable to the Partnership by the weighted-average number of common units outstanding for the period. Diluted earnings per common unit reflects the assumed conversion of all dilutive securities. Prior to the reorganization and the initial public offering in May 2012, Carlyle’s business was conducted through a large number of entities as to which there was no single holding entity, but which were separately owned by senior Carlyle professionals, CalPERS, and Mubadala. There was no single capital structure upon which to calculate historical earnings per common unit information. Accordingly, earnings per common unit information has not been presented for historical periods prior to the reorganization and initial public offering. |
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| Investments | Investments Investments include (i) the Partnership’s ownership interests (typically general partner interests) in the Funds, (ii) the investments held by the Consolidated Funds (all of which are presented at fair value in the Partnership’s condensed consolidated financial statements), (iii) strategic investments made by the Partnership and (iv) certain credit-oriented investments. The valuation procedures utilized for investments of the Funds vary depending on the nature of the investment. The fair value of investments in publicly-traded securities is based on the closing price of the security with adjustments to reflect appropriate discounts if the securities are subject to restrictions. Upon the sale of a security, the realized net gain or loss is computed on a weighted average cost basis, with the exception of the CLOs, which compute the realized net gain or loss on a first in, first out basis. Securities transactions are recorded on a trade date basis. The fair value of non-equity securities, which may include instruments that are not listed on an exchange, considers, among other factors, external pricing sources, such as dealer quotes or independent pricing services, recent trading activity or other information that, in the opinion of the Partnership, may not have been reflected in pricing obtained from external sources. When valuing private securities or assets without readily determinable market prices, the Partnership gives consideration to operating results, financial condition, economic and/or market events, recent sales prices and other pertinent information. These valuation procedures may vary by investment but include such techniques as comparable public market valuation, comparable acquisition valuation and discounted cash flow analysis. Because of the inherent uncertainty, these estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and it is reasonably possible that the difference could be material. Furthermore, there is no assurance that, upon liquidation, the Partnership will realize the values presented herein. |
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| Equity-Method Investments | Equity-Method Investments The Partnership accounts for all investments in which it has significant influence, including investments in the unconsolidated Funds and strategic investments, using the equity method of accounting. The carrying value of equity-method investments is determined based on amounts invested by the Partnership, adjusted for the equity in earnings or losses of the investee allocated based on the respective partnership agreement, less distributions received. The Partnership evaluates its equity-method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. |
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| Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash held at banks and cash held for distributions, including temporary investments with original maturities of less than three months when purchased. Included in cash and cash equivalents is cash withheld from carried interest distributions for potential giveback obligations of $53.1 million and $59.2 million at March 31, 2013 and December 31, 2012, respectively. |
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| Cash and Cash Equivalents Held at Consolidated Funds | Cash and Cash Equivalents Held at Consolidated Funds Cash and cash equivalents held at Consolidated Funds consists of cash and cash equivalents held by the Consolidated Funds, which, although not legally restricted, is not available to fund the general liquidity needs of the Partnership. |
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| Restricted Cash | Restricted Cash In addition to the unrestricted cash held for potential giveback obligations discussed above, the Partnership is required to withhold a certain portion of the carried interest proceeds from one of its corporate private equity funds to provide a reserve for potential giveback obligations. In connection with this agreement, cash and cash equivalents of $13.2 million and $13.0 million is included in restricted cash at March 31, 2013 and December 31, 2012, respectively. Also included in restricted cash at March 31, 2013 and December 31, 2012 is €4.4 million ($5.6 million and $5.8 million as of March 31, 2013 and December 31, 2012, respectively) in escrow related to a tax contingency at one of the Partnership’s real estate funds (see Note 11). The remaining balance in restricted cash at March 31, 2013 and December 31, 2012 primarily represents cash held by the Partnership’s foreign subsidiaries due to certain government regulatory capital requirements. |
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| Restricted Cash and Securities of Consolidated Funds | Restricted Cash and Securities of Consolidated Funds Certain CLOs receive cash from various counterparties to satisfy collateral requirements on derivative transactions. Cash received to satisfy these collateral requirements of $17.6 million and $35.7 million is included in restricted cash and securities of Consolidated Funds at March 31, 2013 and December 31, 2012, respectively. Certain CLOs hold U.S. Treasury notes, Obligation Assimilable du Tresor Securities (“OATS”) Strips, French government securities, guaranteed investment contracts and other highly liquid asset-backed securities as collateral for specific classes of loans payable in the CLOs. As of March 31, 2013 and December 31, 2012, securities of $0.2 million and $0.6 million, respectively, are included in restricted cash and securities of Consolidated Funds. |
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| Derivative Instruments | Derivative Instruments Derivative instruments are recognized at fair value in the condensed consolidated balance sheets with changes in fair value recognized in the condensed consolidated statements of operations for all derivatives not designated as hedging instruments. For all derivatives where hedge accounting is applied, effectiveness testing and other procedures to assess the ongoing validity of the hedges are performed at least quarterly. For instruments designated as cash flow hedges, the Partnership records changes in the estimated fair value of the derivative, to the extent that the hedging relationship is effective, in other comprehensive income (loss). If the hedging relationship for a derivative is determined to be ineffective, due to changes in the hedging instrument or the hedged items, the fair value of the portion of the hedging relationship determined to be ineffective will be recognized as a gain or loss in the condensed consolidated statements of operations. |
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| Fixed Assets | Fixed Assets Fixed assets consist of furniture, fixtures and equipment, leasehold improvements, and computer hardware and software and are stated at cost, less accumulated depreciation and amortization. Depreciation is recognized on a straight-line method over the assets’ estimated useful lives, which for leasehold improvements are the lesser of the lease terms or the life of the asset, and three to seven years for other fixed assets. Fixed assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. |
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| Intangible Assets and Goodwill | Intangible Assets and Goodwill The Partnership’s intangible assets consist of acquired contractual rights to earn future fee income, including management and advisory fees, customer relationships, and acquired trademarks. Finite-lived intangible assets are amortized over their estimated useful lives, which range from three to ten years, and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Goodwill represents the excess of cost over the identifiable net assets of businesses acquired and is recorded in the functional currency of the acquired entity. Goodwill is recognized as an asset and is reviewed for impairment annually as of October 1st and between annual tests when events and circumstances indicate that impairment may have occurred. |
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| Deferred Revenue | Deferred Revenue Deferred revenue represents management fees and other revenue received prior to the balance sheet date, which has not yet been earned. |
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| Comprehensive Loss | Comprehensive Loss Comprehensive income consists of net income and other comprehensive income. The Partnership’s other comprehensive income is comprised of unrealized gains and losses on cash flow hedges, foreign currency translation adjustments and gains / losses on defined benefit plans sponsored by AlpInvest. The components of accumulated other comprehensive loss as of March 31, 2013 and December 31, 2012 were as follows:
Reclassification adjustments from accumulated other comprehensive loss relate to the Partnership’s cash flow hedges and the gains / losses on defined benefit plans and affect interest expense and base compensation expense, respectively, on the condensed consolidated statements of operations. |
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| Foreign Currency Translation | Foreign Currency Translation Non-U.S. dollar denominated assets and liabilities are translated at period-end rates of exchange, and the condensed consolidated statements of operations are translated at rates of exchange in effect throughout the period. Foreign currency losses resulting from transactions outside of the functional currency of an entity of $0.9 million and $3.7 million for the three months ended March 31, 2013 and 2012, respectively, are included in general, administrative and other expenses in the condensed consolidated statements of operations. |
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| Recent Accounting Pronouncement | Recent Accounting Pronouncement In December 2011, the FASB amended its guidance for offsetting financial instruments. The amended guidance, included in ASU 2011-11, “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities,” is effective for the Partnership for its interim reporting periods beginning on or after January 1, 2013. The amended guidance requires additional disclosure about netting arrangements to enable financial statement users to evaluate the effect or potential effect of such arrangements on an entity’s financial position. The Partnership adopted this guidance as of January 1, 2013 and the adoption did not have a material impact on the Partnership’s financial statements. |
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- Definition
Disclosure of accounting policy for cash and cash equivalents held at consolidated funds and includes a statement that these cash and cash equivalents are not available to fund the general liquidity needs of the partnership. No definition available.
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Disclosure of accounting policy for recognizing fund management fee revenue. Disclosure can include the types of funds in which management fees are earned and the range (in percentage of capital) typically earned by fund types. No definition available.
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Disclosure of accounting policy for recognizing investment income (loss). Disclosure can include the method for recognizing investment income and the types of gains (losses) recorded. No definition available.
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Non controlling interests in consolidated entities. No definition available.
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Disclosure of accounting policy for recognizing performance fees. Disclosure can include the criteria a fund needs to meet in order for us to recognize performance fees and the percentage allocation allowed. No definition available.
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Disclosure of accounting policy for restricted cash and securities of consolidated funds and includes a description of the types of cash and securities. No definition available.
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Disclosure of accounting policy for exchanges of Carlyle Holdings partnership units for partnership common units. No definition available.
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Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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- Definition
Disclosure of accounting policy for completed business combinations (purchase method, acquisition method or combination of entities under common control). This accounting policy may include a general discussion of the purchase method or acquisition method of accounting (including for example, the treatment accorded contingent consideration, the identification of assets and liabilities, the purchase price allocation process, how the fair values of acquired assets and liabilities are determined) and the entity's specific application thereof. An entity that acquires another entity in a leveraged buyout transaction generally discloses the accounting policy followed by the acquiring entity in determining the basis used to value its interest in the acquired entity, and the rationale for that accounting policy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for salaries, bonuses, incentive awards, postretirement and postemployment benefits granted to employees, including equity-based arrangements; discloses methodologies for measurement, and the bases for recognizing related assets and liabilities and recognizing and reporting compensation expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for comprehensive income. No definition available.
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- Definition
Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for consolidation to describe the significant judgments and assumptions made in determining whether a variable interest held by the entity requires the variable interest entity to be consolidated and (or) disclose information about its involvement with the variable interest entity; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; and the significant factors considered and judgments made in determining that the power to direct the activities that significantly impact the economic performance of the variable interest entity are shared (as defined). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for the equity method of accounting for investments in common stock or other interests including unconsolidated subsidiaries, corporate joint ventures, noncontrolling interests in real estate ventures, limited partnerships, and limited liability companies. The accounting policy may include information such as: (1) initially recording an investment in the stock of an investee at cost; (2) adjusting the carrying amount of the investment to recognize the investor's share of the earnings or losses of the investee after the date of acquisition; and (3) adjustments to reflect the investor's share of changes in the investee's capital (dividends). This disclosure may also include a detailed description of the policy for determining the amount of equity method losses recognized after an investment has been reduced to zero as a result of previous losses, reasons for not using the equity method when the investor company owns 20 percent or more of the voting stock of the investee's company (including identification of the significant investee), reasons for using the equity method when the ownership percentage is less than 20 percent, and discussion of recognition of equity method losses when an investor's total investment in an investee includes, in addition to an investment in common stock, other investments such as preferred stock and loans to the investee. An entity also may describe how such investments are assessed for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of the adoption of new accounting pronouncements that may impact the entity's financial reporting. No definition available.
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- Definition
Disclosure of accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for recognizing unearned income or deferred revenue related to transactions involving the sale of a product or performance of services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for recognition of interest revenue. Disclosure may include the method of recognizing interest income on loan and trade receivables, the method of amortizing premiums or accreting discounts, and a statement about the policy for the treatment of related fees and costs, including the method of amortizing net deferred fees and costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies (Tables)
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Mar. 31, 2013
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| Partnership's Maximum Exposure to Loss Relating to Non-Consolidated Vies | The assets recognized in the Partnership’s condensed consolidated balance sheets related to the Partnership’s interests in these non-consolidated VIEs and the Partnership’s maximum exposure to loss relating to non-consolidated VIEs were as follows:
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| Components of Accumulated Other Comprehensive Loss | The components of accumulated other comprehensive loss as of March 31, 2013 and December 31, 2012 were as follows:
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Components Of Accumulated Other Comprehensive Income Loss Table [Text Block] No definition available.
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- Definition
Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurement (Tables)
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Mar. 31, 2013
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| Partnership's Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes the Partnership’s assets and liabilities measured at fair value on a recurring basis by the above fair value hierarchy levels as of March 31, 2013:
The following table summarizes the Partnership’s assets and liabilities measured at fair value on a recurring basis by the above fair value hierarchy levels as of December 31, 2012:
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| Financial Instruments Measured at Fair Value | The changes in financial instruments measured at fair value for which the Partnership has used Level III inputs to determine fair value are as follows (Dollars in millions):
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| Transfer Out of Level III of Financial Liabilities |
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| Quantitative Information About Partnership's Level III Inputs | The following table summarizes quantitative information about the Partnership’s Level III inputs as of March 31, 2013:
The following table summarizes quantitative information about the Partnership’s Level III inputs as of December 31, 2012:
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- Definition
Schedule of fair value transfer out of level III financial assets. No definition available.
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- Definition
Schedule of quantitative information about partnership level three inputs. No definition available.
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- Definition
Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Performance Fees (Tables)
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Mar. 31, 2013
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| Components of Accrued Performance Fees | The components of accrued performance fees are as follows:
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| Components of Accrued Giveback Obligations | The components of the accrued giveback obligations are as follows:
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| Performance Fees | The performance fees included in revenues are derived from the following segments:
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- Definition
Tabular disclosure of the components of accrued giveback obligations by reportable segment. No definition available.
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- Definition
Tabular disclosure of the components of accrued performance fees by reportable segment. No definition available.
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- Definition
Tabular disclosure of the components of performance fee revenues by reportable segment. No definition available.
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Investments (Tables)
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Mar. 31, 2013
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| Investments | Investments consist of the following:
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| Equity Method Investments | The Partnership’s equity method investments include its fund investments in Corporate Private Equity, Global Market Strategies and Real Assets, typically as general partner interests, and its investment in NGP Management (included within Real Assets), which are not consolidated but in which the Partnership exerts significant influence. Investments are related to the following segments:
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| Components of Investment Income (Loss) | The components of investment income (loss) are as follows:
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| Carlyle's Income (Loss) from Equity-Method Investments | Carlyle’s income (loss) from its equity-method investments is included in investment income (loss) in the condensed consolidated statements of operations and consists of:
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| Interest and Other Income of Consolidated Funds | The components of interest and other income of Consolidated Funds are as follows:
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| Net Investment Gains (Losses) of Consolidated Funds | The components of net investment gains (losses) of Consolidated Funds are as follows:
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| Realized and Unrealized Gains (Losses) Earned from Investments of Consolidated Funds | The following table presents realized and unrealized gains (losses) earned from investments of the Consolidated Funds:
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- Definition
Equity method investment income. No definition available.
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- Definition
Tabular disclosure of net investment gains losses of Consolidated Funds. No definition available.
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- Definition
Tabular disclosure of realized and unrealized gains earned from investments of Consolidated Funds. No definition available.
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- Definition
A table of investments, shown as a text block. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of interest income and other income elements which are not separately disclosed on the income statement. No definition available.
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- Definition
Tabular disclosure of investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Intangible Assets and Goodwill (Tables)
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Mar. 31, 2013
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| Carrying Amount of Intangible Assets | The following table summarizes the carrying amount of intangible assets as of March 31, 2013 and December 31, 2012:
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| Carrying Amount of Goodwill, by Segment | The following table summarizes the changes in the carrying amount of goodwill, by segment as of March 31, 2013. There was no goodwill associated with the Partnership’s Corporate Private Equity and Real Assets segments.
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| Estimated Future Amortization Expense | The following table summarizes the estimated amortization expense for 2013 through 2017 and thereafter (Dollars in millions):
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- Definition
Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Borrowings (Tables)
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Mar. 31, 2013
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| Schedule of Borrowings | The Partnership’s borrowings consist of the following:
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| Outstanding Borrowing Which Includes Preferred Shares | As of March 31, 2013 and December 31, 2012, the following borrowings were outstanding, which includes preferred shares classified as liabilities (Dollars in millions):
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| X | ||||||||||
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- Definition
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation for our consolidated funds. No definition available.
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| X | ||||||||||
|
- Definition
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
|
|
Contingent Consideration (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Mar. 31, 2013
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| Changes in Contingent Consideration Liabilities | The changes in the contingent consideration liabilities are as follows:
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| Maximum Amounts of Cash Obligations with Business Acquisitions and Our Strategic Investment | The following table represents the maximum amounts that could be paid from contingent cash obligations associated with the business acquisitions and the strategic investment in NGP Management and the amount payable if the Partnership elects to exercise its options related to NGP:
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| X | ||||||||||
|
- Definition
Schedule Of Changes In Contingent Consideration Resulting From Acquisitions [Table Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Schedule Of Maximum Amount Of Contingent Cash Obligations For Business Acquisitions And Strategic Investments [Table Text Block] No definition available.
|
|
Accrued Compensation and Benefits (Tables)
|
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2013
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| Accrued Compensation and Benefits | Accrued compensation and benefits consist of the following:
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| X | ||||||||||
|
- Definition
Tabular disclosure of the components of accrued liabilities. No definition available.
|
|
Commitments and Contingencies (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Mar. 31, 2013
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| Unfunded Commitments | The Partnership and its unconsolidated affiliates have unfunded commitments to entities within the following segments as of March 31, 2013 (Dollars in millions):
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| Future Minimum Commitments for Leases | The future minimum commitments for the leases are as follows (Dollars in millions):
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| Employee and Office Lease Termination Costs | The changes in the accrual for termination costs for the three months ended March 31, 2013 and 2012 are as follows:
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| X | ||||||||||
|
- Definition
Tabular disclosure of unfunded commitments by reportable segment. No definition available.
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| X | ||||||||||
|
- Definition
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Related Party Transactions (Tables)
|
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Mar. 31, 2013
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| Due from Affiliates and Other Receivables | The Partnership had the following due from affiliates and other receivables at March 31, 2013 and December 31, 2012:
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| Due to Affiliates | The Partnership had the following due to affiliates balances at March 31, 2013 and December 31, 2012:
|
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| X | ||||||||||
|
- Definition
Schedule Of Due From Affiliates Table [Text Block] No definition available.
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| X | ||||||||||
|
- Definition
Schedule Of Due To Affiliates Table [Text Block] No definition available.
|
|
Non-controlling Interests in Consolidated Entities (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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| Partnership's Non-Controlling Interests in Consolidated Entities | The components of the Partnership’s non-controlling interests in consolidated entities are as follows:
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| Partnership's Non-Controlling Interests in Income (Loss) of Consolidated Entities | The components of the Partnership’s non-controlling interests in income (loss) of consolidated entities are as follows:
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| X | ||||||||||
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- Definition
Schedule Of Components Of Partnerships Non Controlling Interests In Consolidated Entities Table [Text Block] No definition available.
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| X | ||||||||||
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- Definition
Schedule Of Components Of Partnerships Non Controlling Interests In Income Loss Of Consolidated Entities Table [Text Block] No definition available.
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|
Earnings Per Common Unit (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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| Weighted-Average Common Units Outstanding, Basic and Diluted | The weighted-average common units outstanding, basic and diluted, are calculated as follows:
|
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| Basic and Diluted Net Income Per Common Unit | Basic and diluted net income per common unit are calculated as follows:
|
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| X | ||||||||||
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- Definition
Tabular disclosure of an entity's basic and diluted earnings per share calculations. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Equity-Based Compensation (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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| Summary of Status of Non-Vested Equity-Based Awards | A summary of the status of the Partnership’s non-vested equity-based awards as of March 31, 2013 and a summary of changes during the three months ended March 31, 2013, are presented below:
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| X | ||||||||||
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- Definition
Tabular disclosure of the changes in outstanding nonvested shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Reporting (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
|
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| Reportable Segments Financial Data | The following table presents the financial data for the Partnership’s four reportable segments as of and for the three months ended March 31, 2013:
The following table presents the financial data for the Partnership’s four reportable segments for the three months ended March 31, 2012:
|
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| Total Segments to Partnership Income Before Provision for Taxes Reconciliation | The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes as of and for the three months ended March 31, 2013:
The following table reconciles the Total Segments to the Partnership’s Income Before Provision for Taxes for the three months ended March 31, 2012:
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| Expenses Adjustment Represents Elimination of Intercompany Expenses |
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| Reconciliation of Income Before Provision for Income Taxes |
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| Adjustments for Compensation and Performance Fees Allocated |
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| X | ||||||||||
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- Definition
Tabular disclosure of the reconciliation of segment net performance fees and investment income to their respective consolidated amounts. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the detail for the expenses adjustment in the reconciliation of total segment information to consolidated information. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the reconciliation of income before taxes to economic net income, fee related earnings and distributable earnings. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure that reconciles certain total segment information to consolidated income before taxes. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Supplemental Financial Information (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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| Supplemental Financial Position | The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Partnership’s financial position as of March 31, 2013 and December 31, 2012 and results of operations for the three months ended March 31, 2013 and 2012. The supplemental statement of cash flows is presented without effects of the Consolidated Funds.
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| Supplemental Results of Operations |
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| Supplemental Statement of Cash Flows |
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| X | ||||||||||
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- Definition
Tabular disclosure of supplemental financial position information that illustrates the consolidating effects of the Consolidated Funds. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of supplemental cash flow information that illustrates the consolidating effects of the Consolidated Funds. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of supplemental results of operations information that illustrates the consolidating effects of the Consolidated Funds. No definition available.
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Organization and Basis of Presentation - Additional Information (Detail) (USD $)
In Millions, except Share data, unless otherwise specified |
1 Months Ended |
|---|---|
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May 31, 2012
|
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| Partnership Organization And Basis Of Presentation [Line Items] | |
| Number of common stock units issued during the initial public offering | 30,500,000 |
| Price of common units issued during initial public offering | $ 22.00 |
| Net proceeds from initial public offering | $ 615.8 |
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Price of common units issued during the initial public offering. No definition available.
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of realized performance fees, if the fund were liquidated at the reporting date fair value, that would be given back to the fund investors at the end of the fund's life if the fund fair value does not recover sufficiently to pass through the hurdle rate that allows for the recognition of performance fees. No definition available.
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| X | ||||||||||
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- Definition
Accrued performance fees due to employees and advisors included in accrued compensation. No definition available.
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| X | ||||||||||
|
- Definition
Amount of securities included in restricted cash and securities of consolidated funds. No definition available.
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| X | ||||||||||
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- Definition
Cash withheld from carried interest distributions for potential giveback obligations. No definition available.
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| X | ||||||||||
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- Definition
Total of investments in CLOs that were consolidated. No definition available.
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| X | ||||||||||
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- Definition
Escrow Related To Tax Contingency Of Real Estate Funds Included In Restricted Cash No definition available.
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| X | ||||||||||
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- Definition
Extension period for fund closing. No definition available.
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| X | ||||||||||
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- Definition
Interest income earned by partnership. No definition available.
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| X | ||||||||||
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- Definition
Interest income of consolidated funds. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Percentage of allocation based Performance fees related to fund of funds vehicles- high end of range. No definition available.
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| X | ||||||||||
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- Definition
Percentage of allocation based performance fees related to fund of funds vehicles - low end of range. No definition available.
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| X | ||||||||||
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- Definition
Percentage of estimated realizable tax benefit to be paid by corporate taxpayers on exchange transactions. No definition available.
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| X | ||||||||||
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- Definition
Percentage of management fees earned - high end of range. No definition available.
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| X | ||||||||||
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- Definition
Percentage of management fees earned - low end of range. No definition available.
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| X | ||||||||||
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- Definition
Percentage of management fees for unrealized investments - low end of range. No definition available.
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| X | ||||||||||
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- Definition
Percentage of management fees from funds of funds after commitment period - high end of range. No definition available.
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| X | ||||||||||
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- Definition
Percentage Of Management Fees From Funds Of Funds During Commitment Fee Period Low End Of Range No definition available.
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| X | ||||||||||
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- Definition
Percentage of management fees from funds of funds- high end of range. No definition available.
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| X | ||||||||||
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- Definition
Percentage of management fees from funds of funds - low end of range. No definition available.
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| X | ||||||||||
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- Definition
Percentage of management fees on CLOs related to collateralized loan obligation - low end of range. No definition available.
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| X | ||||||||||
|
- Definition
Percentage of management fees paid by hedge funds - high end of range. No definition available.
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| X | ||||||||||
|
- Definition
Percentage of management fees paid by hedge funds - low end of range. No definition available.
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| X | ||||||||||
|
- Definition
Percentage of management fees related to collateralized loan obligation - high end of range. No definition available.
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| X | ||||||||||
|
- Definition
Percentage of remaining estimated realizable tax benefit on exchange transactions. No definition available.
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| X | ||||||||||
|
- Definition
Percentage of unrealized investments - high end of range. No definition available.
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| X | ||||||||||
|
- Definition
Performance fees allocation percentage to partnership. No definition available.
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| X | ||||||||||
|
- Definition
Period of time for which management fees will be received by partners from initial closing date. No definition available.
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| X | ||||||||||
|
- Definition
Period of management fees related to collateralized loan obligation - low end of range. No definition available.
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| X | ||||||||||
|
- Definition
Period of management fees related to collateralized loan obligation will receive by partnership high end of range. No definition available.
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| X | ||||||||||
|
- Definition
Restricted cash for carried interest proceeds for one corporate private equity fund. No definition available.
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| X | ||||||||||
|
- Definition
Period of time subsequent to being called that management fees are recognized as earned. No definition available.
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| X | ||||||||||
|
- Definition
Transaction and portfolio advisory fees included in fund management fees. No definition available.
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date of cash collateral held for borrowed securities, for which the cash is restricted as to withdrawal or usage. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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| X | ||||||||||
|
- Definition
The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
| X | ||||||||||
|
- Definition
The carrying amount of the consolidated Variable Interest Entity's assets included in the reporting entity's statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount of the consolidated Variable Interest Entity's liabilities included in the reporting entity's statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary of Significant Accounting Policies - Partnership's Maximum Exposure to Loss Relating to Non-Consolidated Vies (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Variable Interest Entity [Line Items] | ||
| Investments | $ (856.2) | $ (881.2) |
|
Variable Interest Entity, Primary Beneficiary [Member]
|
||
| Variable Interest Entity [Line Items] | ||
| Investments | 399.1 | 398.2 |
| Receivables | 107.3 | 43.5 |
| Maximum Exposure to Loss | $ 506.4 | $ 441.7 |
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The reporting entity's maximum amount of exposure to loss as a result of its involvement with the Variable Interest Entity (VIE). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Summary of Significant Accounting Policies - Components of Accumulated Other Comprehensive Loss (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 12 Months Ended |
|---|---|---|
|
Mar. 31, 2013
|
Dec. 31, 2012
|
|
| Components Of Accumulated Other Comprehensive Income Loss Line Items | ||
| Unrealized gains (losses) on cash flow hedge instruments | $ 0.1 | $ (0.1) |
| Currency translation adjustments | (4.1) | (3.3) |
| Unrecognized gains / losses on defined benefit plans | (1.3) | (1.4) |
| Total | $ (5.3) | $ (4.8) |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tax effect, net of reclassification adjustments, of the change in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Also includes an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tax effect, net of reclassification adjustments, of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Before tax amount, net of reclassifications, of pension and other postretirement benefit plans (gain) loss included in accumulated other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tax effect of other comprehensive income (loss) attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisitions - Additional Information (Detail) (USD $)
In Millions, except Share data, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Oct. 01, 2012
|
|
| Business Acquisition [Line Items] | ||
| Contingent cash consideration | $ 989.2 | |
|
Performance-based [Member]
|
||
| Business Acquisition [Line Items] | ||
| Contingent cash consideration | 546.3 | |
|
Vermillion [Member]
|
||
| Business Acquisition [Line Items] | ||
| Percentage of owner's interest | 55.00% | |
| Period of consideration for contingent consideration | 4 years 3 months | |
|
Vermillion [Member] | Performance-based [Member]
|
||
| Business Acquisition [Line Items] | ||
| Cash paid for acquisitions | 50.0 | |
| Contingently issuable Carlyle Holdings partnership units | 1,440,276 | |
| Period of consideration for contingent consideration | 5 years 3 months | |
| Contingent cash consideration | $ 131.3 |
| X | ||||||||||
|
- Definition
Business Acquisition Contingent Consideration Payment Period No definition available.
|
| X | ||||||||||
|
- Definition
Amount of potential cash payments that could result from the contingent consideration arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum number of shares issuable under the contingent consideration arrangement in a business combination. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of cash paid to acquire the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Percentage of voting equity interests acquired in the business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Derivative instruments of subsidiary. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value contingent consideration. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value interest rate swap. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents investment securities as of the balance sheet date which may include marketable securities, derivative financial instruments, and investments accounted for under the equity method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the aggregate of the liabilities reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. Fair value of Loans Payable at the balance sheet date. No definition available.
|
|
Fair Value Measurement - Additional Information (Detail)
|
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
| Maximum lag period for which the partnership investments in funds are valued | 90 days |
| X | ||||||||||
|
- Definition
Maximum lag period for which the partnership investments in funds are valued. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the fair value of the financial assets that were initially consolidated upon the acquisition of CLOs (and AlpInvest in 2011). The fair value was determined using significant unobservable inputs (Level 3). No definition available.
|
| X | ||||||||||
|
- Definition
Realized and unrealized gains (losses), net that have occurred during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the amount of the total realized and unrealized gains or losses for the period which are included in the statement of income (or changes in net assets) in trading revenues; the fair value of which assets was or is measured on a recurring basis using significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Purchases that have taken place during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sales that have taken place during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Settlements that have taken place during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Transfers out of assets measured at fair value and categorized within Level 3 of the fair value hierarchy that have taken place during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents an asset measured at fair value using significant unobservable inputs (Level 3) which is required for reconciliation purposes of beginning and ending balances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Realized and unrealized gains (losses), net that have occurred during the period in relation to liabilities measured at fair value and categorized within Level 3 of the fair value hierarchy. No definition available.
|
| X | ||||||||||
|
- Definition
Paydowns related to the financial liability that is measured at fair value using significant unobservable inputs. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the fair value of the financial liabilities that were initially consolidated upon the acquisition of CLOs. The fair value was determined using significant unobservable inputs (Level 3). No definition available.
|
| X | ||||||||||
|
- Definition
Increase of additional borrowings on existing and new debt instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the amount of the total realized and unrealized gains or losses for the period which are included in the statement of income (or changes in net assets) in trading revenue; the fair value of which liabilities was or is measured on a recurring basis using significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Sales that have taken place during the period in relation to liabilities measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents a liability measured at fair value using significant unobservable inputs (Level 3) which is required for reconciliation purposes of beginning and ending balances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Assumed range percentage of potential contingent payments. No definition available.
|
| X | ||||||||||
|
- Definition
Book Value Multiple Range No definition available.
|
| X | ||||||||||
|
- Definition
Default rates range percentage. No definition available.
|
| X | ||||||||||
|
- Definition
Discount rate range percentage. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value contingent consideration. No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value Inputs Exit Capitalization Rate No definition available.
|
| X | ||||||||||
|
- Definition
Fair value measurements valuation technique of assets. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value measurements valuation technique of liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
Indicative Quotes Per Share Range No definition available.
|
| X | ||||||||||
|
- Definition
Indicative quotes range percentage. No definition available.
|
| X | ||||||||||
|
- Definition
Ltm Ebitda Multiple Range No definition available.
|
| X | ||||||||||
|
- Definition
Market Yield Range Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Indicative Quotes Range Notional Amount No definition available.
|
| X | ||||||||||
|
- Definition
Price Earnings Multiple Range No definition available.
|
| X | ||||||||||
|
- Definition
Recovery rates range percentage. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the aggregate of the liabilities reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accrued Performance Fees - Components of Accrued Performance Fees (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Line Items] | ||
| Accrued performance fees | $ 2,598.2 | $ 2,192.5 |
|
Corporate Private Equity [Member]
|
||
| Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Line Items] | ||
| Accrued performance fees | 1,928.9 | 1,667.3 |
|
Global Market Strategies [Member]
|
||
| Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Line Items] | ||
| Accrued performance fees | 145.5 | 69.5 |
|
Real Assets [Member]
|
||
| Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Line Items] | ||
| Accrued performance fees | 294.0 | 250.1 |
|
Solutions [Member]
|
||
| Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Line Items] | ||
| Accrued performance fees | $ 229.8 | $ 205.6 |
| X | ||||||||||
|
- Definition
Amounts represent performance fees that our existing, unrealized fund portfolio would generate if we sold every asset across all of our funds at fair value as of the end of the reporting period. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Accrued Performance Fees - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | ||
|---|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
|
| Operating Statistics [Line Items] | |||
| Percentage of accrued performance fees related to certain Corporate Private Equity funds | 61.00% | 61.00% | |
| Number of Partnership's Corporate Private Equity funds related to accrued performance fees | 2 | ||
| Percentage of performance fees related to certain Corporate Private Equity funds | 53.00% | 62.00% | |
| Performance fees related to certain Corporate Private Equity funds | $ 338.5 | $ 397.5 | |
| Number of Partnership's Corporate Private Equity funds related to performance fees | 2 | 3 | |
| Revenue recognized | 642.4 | 640.8 | |
|
Carlyle Asia Partners II, L.P. [Member]
|
|||
| Operating Statistics [Line Items] | |||
| Revenue recognized | 81.5 | ||
|
Carlyle Partners IV, L.P. [Member]
|
|||
| Operating Statistics [Line Items] | |||
| Revenue recognized | 188.3 | 287.1 | |
|
Carlyle Partners V, L.P. [Member]
|
|||
| Operating Statistics [Line Items] | |||
| Revenue recognized | $ 209.7 | $ 93.2 | |
| X | ||||||||||
|
- Definition
Number of partnerships corporate private equity funds related to accrued performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Number of Partnerships Corporate Private Equity Funds Related to Performance Fees No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Percentage Of Accrued Performance Fees Related To Certain Corporate Private Equity Funds No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Performance Fees Related to Certain Corporate Private Equity Funds No definition available.
|
| X | ||||||||||
|
- Definition
Performance Fees Related To Certain Corporate Private Equity funds No definition available.
|
| X | ||||||||||
|
- Definition
Amount of revenues earned by the entity based on the investment results achieved, including, but not limited to, revenues related to management of investment fund assets. Excludes fees based upon a percentage of the assets under management, which are not performance-related fees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accrued Performance Fees - Components of Accrued Giveback Obligations (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Operating Statistics [Line Items] | ||
| Accrued giveback obligations | $ (46.3) | $ (69.2) |
|
Corporate Private Equity [Member]
|
||
| Operating Statistics [Line Items] | ||
| Accrued giveback obligations | (9.8) | (18.9) |
|
Global Market Strategies [Member]
|
||
| Operating Statistics [Line Items] | ||
| Accrued giveback obligations | (1.4) | (2.1) |
|
Real Assets [Member]
|
||
| Operating Statistics [Line Items] | ||
| Accrued giveback obligations | $ (35.1) | $ (48.2) |
| X | ||||||||||
|
- Definition
Amount of realized performance fees, if the fund were liquidated at the reporting date fair value, that would be given back to the fund investors at the end of the fund's life if the fund fair value does not recover sufficiently to pass through the hurdle rate that allows for the recognition of performance fees. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Accrued Performance Fees - Performance Fees (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Operating Statistics [Line Items] | ||
| Performance Fees | $ 642.4 | $ 640.8 |
|
Corporate Private Equity [Member]
|
||
| Operating Statistics [Line Items] | ||
| Performance Fees | 434.7 | 464.5 |
|
Global Market Strategies [Member]
|
||
| Operating Statistics [Line Items] | ||
| Performance Fees | 108.5 | 45.5 |
|
Real Assets [Member]
|
||
| Operating Statistics [Line Items] | ||
| Performance Fees | 63.0 | 105.5 |
|
Solutions [Member]
|
||
| Operating Statistics [Line Items] | ||
| Performance Fees | $ 36.2 | $ 25.3 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of revenues earned by the entity based on the investment results achieved, including, but not limited to, revenues related to management of investment fund assets. Excludes fees based upon a percentage of the assets under management, which are not performance-related fees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments - Investments (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Consolidation Of Investment [Line Items] | ||
| Equity method investments, excluding accrued performance fees | $ 828.7 | $ 855.1 |
| Trading securities and other investments | 27.5 | 26.1 |
| Total investments | $ 856.2 | $ 881.2 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total investments, other than debt and equity securities, that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Additional Investment By Partnership No definition available.
|
| X | ||||||||||
|
- Definition
Amortization period of Partnership's basis difference in the underlying net assets of NGP. No definition available.
|
| X | ||||||||||
|
- Definition
Assets of the CLOs that were formed during the year No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the partnership's basis difference in the underlying net assets of NGP. No definition available.
|
| X | ||||||||||
|
- Definition
Contingent Purchase Price Consideration No definition available.
|
| X | ||||||||||
|
- Definition
Equity Investment Percentage Ownership Acquired No definition available.
|
| X | ||||||||||
|
- Definition
Investment Expenses No definition available.
|
| X | ||||||||||
|
- Definition
Investment income. No definition available.
|
| X | ||||||||||
|
- Definition
Issuance Of Partnership Units No definition available.
|
| X | ||||||||||
|
- Definition
Minimum percent of aggregate assets for individual investments with fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Number of years until Carlyle can purchase the remaining interests in this investment. No definition available.
|
| X | ||||||||||
|
- Definition
Partnership Vested Period No definition available.
|
| X | ||||||||||
|
- Definition
Payment to be made upon the termination of the investment period of the NGP X Fund. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of carried interest to be received upon the purchase of additional interests in the future. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Income Allocated To Carried Interest No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Income Allocated Under Partnership Investment No definition available.
|
| X | ||||||||||
|
- Definition
The range of the estimated purchase price for an interest in the general partner of NGP X. No definition available.
|
| X | ||||||||||
|
- Definition
Value of additional partnership units to be issued upon the satisfaction of certain performance conditions. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total investments, other than debt and equity securities, that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments - Equity Method Investments (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Schedule of Investments [Line Items] | ||
| Equity method investments | $ 828.7 | $ 855.1 |
|
Corporate Private Equity [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Equity method investments | 245.0 | 251.6 |
|
Global Market Strategies [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Equity method investments | 19.7 | 18.0 |
|
Real Assets [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Equity method investments | $ 564.0 | $ 585.5 |
| X | ||||||||||
|
- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments - Components of Investment Income (Loss) (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Investment [Line Items] | ||
| Income (loss) from equity investments | $ (2.8) | $ 21.5 |
| Income from trading securities | 3.3 | 2.1 |
| Other investment loss | (0.1) | (2.1) |
| Total investment income (loss) | $ 0.4 | $ 21.5 |
| X | ||||||||||
|
- Definition
Other investments income. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the gain (loss) realized during the period from the sale of trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments - Carlyle's Income (Loss) from Equity-Method Investments (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Schedule of Investments [Line Items] | ||
| Income from equity investments | $ (2.8) | $ 21.5 |
|
Corporate Private Equity [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Income from equity investments | 12.9 | 19.9 |
|
Global Market Strategies [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Income from equity investments | 1.1 | 0.8 |
|
Real Assets [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Income from equity investments | $ (16.8) | $ 0.8 |
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments - Interest and Other Income of Consolidated Funds (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Schedule of Investments [Line Items] | ||
| Interest income from investments | $ 230.6 | $ 184.0 |
| Other income | 37.8 | 27.5 |
| Total | $ 268.4 | $ 211.5 |
| X | ||||||||||
|
- Definition
Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein held by Consolidated Funds and other consolidated entities. No definition available.
|
| X | ||||||||||
|
- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments - Net Investment Gains (Losses) of Consolidated Funds (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Schedule of Investments [Line Items] | ||
| Losses from liabilities of CLOs | $ (387.0) | $ (158.6) |
| Total | 211.5 | 872.1 |
|
Collateralized Loan Obligations [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Gains from investments of Consolidated Funds | 599.4 | 1,031.1 |
| Losses from liabilities of CLOs | (386.9) | (159.2) |
| Gains (losses) on other assets of CLOs | (1.0) | 0.2 |
| Total | $ 211.5 | $ 872.1 |
| X | ||||||||||
|
- Definition
Net Gains (Losses) from Consolidated Funds and other consolidated entities' investment activities. No definition available.
|
| X | ||||||||||
|
- Definition
Realized unrealized gains from investments. No definition available.
|
| X | ||||||||||
|
- Definition
Realized Unrealized Gains Losses On Other Assets No definition available.
|
| X | ||||||||||
|
- Definition
Realized/unrealized loss from loans payable of Consolidated Funds No definition available.
|
| X | ||||||||||
|
- Details
|
|
Investments - Realized and Unrealized Gains (Losses) Earned from Investments of Consolidated Funds (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Schedule of Investments [Line Items] | ||
| Realized gains | $ 477.9 | $ 215.1 |
| Net change in unrealized gains | 121.5 | 816.0 |
| Total | $ 599.4 | $ 1,031.1 |
| X | ||||||||||
|
- Definition
Realized and net change in unrealized gains and losses on investments of Consolidated Funds. No definition available.
|
| X | ||||||||||
|
- Definition
The net realized gains or losses on investments during the period, not including gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Intangible Assets and Goodwill - Carrying Amount of Intangible Assets (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Goodwill And Intangible Assets [Line Items] | ||
| Acquired contractual rights | $ 793.2 | $ 797.7 |
| Acquired trademarks | 6.8 | 6.8 |
| Accumulated amortization | (186.7) | (150.4) |
| Finite-lived intangible assets, net | 613.3 | 654.1 |
| Goodwill | 36.8 | 37.0 |
| Intangible assets, net | $ 650.1 | $ 691.1 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Gross carrying amount before accumulated amortization as of the balance sheet date of an intangible asset that arises from a contractual arrangement with a third party (not including franchise rights and license agreements). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross carrying amount before accumulated amortization as of the balance sheet date for the rights acquired through registration of a trademark to gain or protect exclusive use of a business name, symbol or other device or style for a specified period of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. No definition available.
|
|
Intangible Assets and Goodwill - Carrying Amount of Goodwill, by Segment (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
| Goodwill [Line Items] | |
| Balance beginning | $ 37.0 |
| Foreign currency translation | (0.2) |
| Balance ending | 36.8 |
|
Global Market Strategies [Member]
|
|
| Goodwill [Line Items] | |
| Balance beginning | 28.0 |
| Foreign currency translation | |
| Balance ending | 28.0 |
|
Solutions [Member]
|
|
| Goodwill [Line Items] | |
| Balance beginning | 9.0 |
| Foreign currency translation | (0.2) |
| Balance ending | $ 8.8 |
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The increase (decrease) to the recorded value of goodwill for foreign currency translation adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Intangible Assets and Goodwill - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Amortization expense on intangible assets | $ 37.0 | $ 18.7 |
| X | ||||||||||
|
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Intangible Assets and Goodwill - Estimated Future Amortization Expense (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
|---|---|
| Intangible Assets Goodwill And Other Assets [Line Items] | |
| 2013 | $ 110.7 |
| 2014 | 97.0 |
| 2015 | 93.1 |
| 2016 | 87.3 |
| 2017 | 82.9 |
| Thereafter | 183.1 |
| Total | $ 654.1 |
| X | ||||||||||
|
- Definition
Finite lived intangible assets amortization expenses. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized after the fifth fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the next fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the fifth fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the fourth fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the third fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the second fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Borrowings - Schedule of Borrowings (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Debt Facilities [Line Items] | ||
| Carrying Value | $ 923.2 | $ 886.3 |
| Borrowing Outstanding | 925.0 | 886.3 |
|
Revolving Credit Facility [Member]
|
||
| Debt Facilities [Line Items] | ||
| Borrowing Outstanding | 386.3 | |
| Carrying Value | 386.3 | |
|
Term Loan [Member]
|
||
| Debt Facilities [Line Items] | ||
| Borrowing Outstanding | 25.0 | 500.0 |
| Carrying Value | 25.0 | 500.0 |
|
3.875% senior notes due 2023 [Member]
|
||
| Debt Facilities [Line Items] | ||
| Carrying Value | 499.8 | |
| Borrowing Outstanding | 500.0 | |
|
5.625% senior notes due 2043 [Member]
|
||
| Debt Facilities [Line Items] | ||
| Borrowing Outstanding | 400.0 | |
| Carrying Value | $ 398.4 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount borrowed under debt instruments as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of all notes and loans payable (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Borrowings - Schedule of Borrowings (Parenthetical) (Detail)
|
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
|
Term Loan [Member]
|
||
| Debt Facilities [Line Items] | ||
| Loan maturity | Sep. 30, 2016 | Sep. 30, 2016 |
|
3.875% senior notes due 2023 [Member]
|
||
| Debt Facilities [Line Items] | ||
| Loan maturity | Feb. 01, 2023 | |
| Interest rate on senior notes | 3.875% | |
|
5.625% senior notes due 2043 [Member]
|
||
| Debt Facilities [Line Items] | ||
| Loan maturity | Mar. 30, 2043 | |
| Interest rate on senior notes | 5.625% | |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Debt instrument maximum borrowing capacity. No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Percent to Par Value No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of collateralized loan obligation assets. No definition available.
|
| X | ||||||||||
|
- Definition
Line Of Credit Facility Aggregate Maximum Borrowing Capacity No definition available.
|
| X | ||||||||||
|
- Definition
Maximum percentage of applicable margin. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum percentage of applicable margin in addition to base rate. No definition available.
|
| X | ||||||||||
|
- Definition
Payment Of Senior Term Loan Principal No definition available.
|
| X | ||||||||||
|
- Definition
Senior Notes Option To Redeem Price Equal To Percentage Of Principal No definition available.
|
| X | ||||||||||
|
- Definition
Reflects the weighted average interest rate for outstanding liquidity arrangements for certain CLOs. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date the debt agreement requires the first payment to be made, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of the frequency of periodic payments, which may be presented in a variety of ways (for example, monthly, quarterly, annually). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Write-off of amounts previously capitalized as debt issuance cost in an extinguishment of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Debt instrument weighted average remaining life. No definition available.
|
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date before deducting unamortized discount or premiums (if any). May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the calculation as of the balance sheet date of the average interest rate weighted by the amount of debt outstanding by type or by instrument at that time. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Business Acquisition Contingent Consideration Cash Paid No definition available.
|
| X | ||||||||||
|
- Definition
Change in carrying value of contingent consideration. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value, as of the acquisition date, of potential payments under the contingent consideration arrangement including cash and shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of potential cash payments that could result from the contingent consideration arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of liability arising from an inherited contingency (as defined) which has been recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Contingent Consideration - Maximum Amounts of Cash Obligations with Business Acquisitions and Our Strategic Investment (Parenthetical) (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
|---|---|
| Business Acquisition, Contingent Consideration [Line Items] | |
| Liability Recognized on Financial Statements | $ 273.7 |
|
Performance-based [Member]
|
|
| Business Acquisition, Contingent Consideration [Line Items] | |
| Liability Recognized on Financial Statements | 166.8 |
|
Contingent Equity Consideration [Member] | Performance-based [Member]
|
|
| Business Acquisition, Contingent Consideration [Line Items] | |
| Liability Recognized on Financial Statements | $ 65.7 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of liability arising from an inherited contingency (as defined) which has been recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accrued Compensation and Benefits - Accrued Compensation and Benefits (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Accrued performance fee-related compensation | $ 1,089.9 | $ 912.0 |
| Accrued bonuses | 113.2 | 188.5 |
| Employment-based contingent cash consideration | 106.9 | 96.2 |
| Other | 139.3 | 121.5 |
| Total | $ 1,449.3 | $ 1,318.2 |
| X | ||||||||||
|
- Definition
Accrued performance fee-related compensation. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value of employment-based contingent cash consideration No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable for incentive compensation awarded to employees and directors or earned by them based on the terms of one or more relevant arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for employer-related costs not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments and Contingencies - Unfunded Commitments (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
|---|---|
| Operating Statistics [Line Items] | |
| Total unfunded commitments | $ 2,296.3 |
|
Corporate Private Equity [Member]
|
|
| Operating Statistics [Line Items] | |
| Total unfunded commitments | 1,887.9 |
|
Global Market Strategies [Member]
|
|
| Operating Statistics [Line Items] | |
| Total unfunded commitments | 221.1 |
|
Real Assets [Member]
|
|
| Operating Statistics [Line Items] | |
| Total unfunded commitments | $ 187.3 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Unfunded commitments to entities . No definition available.
|
| X | ||||||||||
|
- Definition
Accrual For Contingent Consideration No definition available.
|
| X | ||||||||||
|
- Definition
Amount of realized performance fees, if the fund were liquidated at the reporting date fair value, that would be given back to the fund investors at the end of the fund's life if the fund fair value does not recover sufficiently to pass through the hurdle rate that allows for the recognition of performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of realized and distributed carried interest of potential giveback on after-tax basis. No definition available.
|
| X | ||||||||||
|
- Definition
Cash withheld from carried interest distributions for potential giveback obligations. No definition available.
|
| X | ||||||||||
|
- Definition
Legal Matters Number Of Putative Class Action Lawsuits No definition available.
|
| X | ||||||||||
|
- Definition
Legal Matters Number Of Shareholders Class Actions No definition available.
|
| X | ||||||||||
|
- Definition
Non cancelable operating leases future minimum payments receivable No definition available.
|
| X | ||||||||||
|
- Definition
Number Of Cases Consolidated No definition available.
|
| X | ||||||||||
|
- Definition
Number of civil actions. No definition available.
|
| X | ||||||||||
|
- Definition
Number Of Lawsuits No definition available.
|
| X | ||||||||||
|
- Definition
Number Of Separate Lawsuits Consolidated Into One Lawsuit No definition available.
|
| X | ||||||||||
|
- Definition
Repayment Of Giveback Obligations No definition available.
|
| X | ||||||||||
|
- Definition
Unfunded commitment as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Definition
Unfunded commitment as of the reporting date that is to be paid by senior Carlyle executives and professionals. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for contractual rent under lease arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
| X | ||||||||||
|
- Definition
The designation of funds furnished by a borrower to a lender to assure future payments of the borrower's real estate taxes and insurance obligations with respect to a mortgaged property. Escrow deposits may be made for a variety of other purposes such as earnest money and contingent payments. This element excludes replacement reserves which are an escrow separately provided for within the US GAAP taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of estimated interest recognized in the period arising from income tax examinations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the amounts of estimated penalties and interest recognized in the period arising from income tax examinations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of estimated penalties recognized in the period arising from income tax examinations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date which lease or group of leases is set to expire, in CCYY-MM-DD format. No definition available.
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Increase for additional borrowings on the credit facility during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effective interest rate at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The value (monetary amount) of the award the plaintiff seeks in the legal matter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the payments that the lessee is obligated to make or can be required to make in connection with a property under the terms of an agreement classified as an operating lease, excluding contingent rentals and a guarantee by the lessee of the lessor's debt and the lessee's obligation to pay (apart from the rental payments) executory costs such as insurance, maintenance, and taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of unbilled receivables under long-term contracts that have not been billed and were not billable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments and Contingencies - Future Minimum Commitments for Leases (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
|---|---|
| 2013 | $ 34.4 |
| 2014 | 43.7 |
| 2015 | 39.7 |
| 2016 | 30.9 |
| 2017 | 29.7 |
| Thereafter | 124.7 |
| Future minimum commitments for leases, total | $ 303.1 |
| X | ||||||||||
|
- Definition
Future minimum rental payments in aggregate as of the balance sheet date under operating leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within one year of the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the fifth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the fourth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the third year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the second year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future minimum lease payments receivable under operating leases for periods greater than five years following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments and Contingencies - Employee and Office Lease Termination Costs (Detail) (Termination Costs [Member], USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
|
Termination Costs [Member]
|
||
| Expenses [Line Items] | ||
| Termination costs, beginning balance | $ 13.6 | $ 15.2 |
| Compensation expense | 0.6 | 2.2 |
| Contract termination costs | (0.1) | 0.2 |
| Costs paid or settled | (2.2) | (1.3) |
| Termination costs, ending balance | $ 11.9 | $ 16.3 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Restructuring compensation expense. No definition available.
|
| X | ||||||||||
|
- Definition
Amount charged against earnings in the period for incurred and estimated costs associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash paid in the period to fully or partially settle a specified, previously accrued type of restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Related Party Transactions - Due from Affiliates and Other Receivables (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Related Party Transaction [Line Items] | ||
| Unbilled receivable for giveback obligations from current and former employees | $ 19.9 | $ 32.8 |
| Notes receivable and accrued interest from affiliates | 7.4 | 10.0 |
| Other receivables from unconsolidated funds and affiliates, net | 119.3 | 147.9 |
| Total | $ 146.6 | $ 190.7 |
| X | ||||||||||
|
- Definition
Notes receivable and accrued interest from affiliates. No definition available.
|
| X | ||||||||||
|
- Definition
Other receivables from unconsolidated funds and affiliates. No definition available.
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount due for services rendered or products shipped, but not yet billed, recognized in conformity with revenue recognition criteria. This element is distinct from unbilled contracts receivables because this is based on noncontract transactions. No definition available.
|
|
Related Party Transactions - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Related Party Transaction [Line Items] | ||
| Maximum percentage of interest on amounts due from affiliates | 5.63% | |
| Payment of aircraft related expenses | $ 2.7 | $ 1.8 |
| X | ||||||||||
|
- Definition
Maximum percentage of interest on dues from affiliates. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of transactions with related party during the financial reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Related Party Transactions - Due to Affiliates (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Related Party Transaction [Line Items] | ||
| Due to affiliates of Consolidated Funds | $ 44.7 | $ 42.1 |
| Due to non-consolidated affiliates | 34.8 | 27.8 |
| Performance-based contingent cash and equity consideration related to acquisitions | 203.3 | 216.2 |
| Amounts owed under the tax receivable agreement | 36.5 | 34.9 |
| Other | 13.5 | 11.1 |
| Total | $ 332.8 | $ 332.1 |
| X | ||||||||||
|
- Definition
Amounts owed under tax receivable agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Contingent consideration related to acquisitions payable to affiliates. No definition available.
|
| X | ||||||||||
|
- Definition
Due to affiliates of consolidated funds. No definition available.
|
| X | ||||||||||
|
- Definition
Due to affiliates, other. No definition available.
|
| X | ||||||||||
|
- Definition
Due to non-consolidated affiliates. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Income Taxes - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Income Taxes [Line Items] | ||
| Provision for income taxes | $ 24.9 | $ 11.7 |
| Number of years federal income tax returns are subject to examination | 3 years | |
| Period in which significant changes in unrecognized tax benefits are not expected | Next twelve months | |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of years federal income tax returns are subject to examination. No definition available.
|
| X | ||||||||||
|
- Definition
Period in which significant changes in unrecognized tax benefits are not expected. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Non-controlling Interests in Consolidated Entities - Partnership's Non-Controlling Interests in Consolidated Entities (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Noncontrolling Interest [Line Items] | ||
| Non-controlling interests in consolidated entities | $ 7,851.3 | $ 8,264.8 |
|
Non-Carlyle interests in Consolidated Funds [Member]
|
||
| Noncontrolling Interest [Line Items] | ||
| Non-controlling interests in consolidated entities | 7,544.1 | 7,963.9 |
|
Non-Carlyle interests in majority-owned Subsidiaries [Member]
|
||
| Noncontrolling Interest [Line Items] | ||
| Non-controlling interests in consolidated entities | 224.7 | 228.1 |
|
Non-controlling interest in AlpInvest [Member]
|
||
| Noncontrolling Interest [Line Items] | ||
| Non-controlling interests in consolidated entities | 33.0 | 28.9 |
|
Non-controlling interest in carried interest and cash held for carried interest distributions [Member]
|
||
| Noncontrolling Interest [Line Items] | ||
| Non-controlling interests in consolidated entities | $ 49.5 | $ 43.9 |
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Comprehensive (income) loss attributable to redeemable non-controlling interests in consolidated entities. No definition available.
|
| X | ||||||||||
|
- Definition
Net income loss attributable to equity appropriated for collateralized loan obligations. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of net income or loss for the period allocated to noncontrolling shareholders, unit holders, partners, or other equity holders in one or more of the entities consolidated into the reporting entity's financial statements other than those noncontrolling interests already defined within the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings Per Common Unit - Weighted-Average Common Units Outstanding, Basic and Diluted (Detail)
|
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
| Earnings Per Share [Line Items] | |
| Basic | 43,343,268 |
| Diluted | 51,109,008 |
|
The Carlyle Group, L.P. [Member]
|
|
| Earnings Per Share [Line Items] | |
| Basic | 43,343,268 |
| Diluted | 43,343,268 |
|
Unvested deferred restricted common units [Member]
|
|
| Earnings Per Share [Line Items] | |
| Basic | |
| Diluted | 5,393,646 |
|
Contingently issuable Carlyle Holdings partnership units [Member]
|
|
| Earnings Per Share [Line Items] | |
| Basic | |
| Diluted | 2,372,094 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Weighted average number of diluted common units outstanding. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the weighted average total number of shares issued throughout the period including the first (beginning balance outstanding) and last (ending balance outstanding) day of the period before considering any reductions (for instance, shares held in treasury) to arrive at the weighted average number of shares outstanding. Weighted average relates to the portion of time within a reporting period that common shares have been issued and outstanding to the total time in that period. Such concept is used in determining the weighted average number of shares outstanding for purposes of calculating earnings per share (basic). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings Per Common Unit - Additional Information (Detail)
|
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
|
Weighted-average vested Carlyle Holdings partnership units [Member]
|
|
| Dilutive Securities Included And Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
| Carlyle Holdings partnership units deemed antidilutive | 226,419,959 |
|
Unvested Carlyle Holdings partnership units [Member]
|
|
| Dilutive Securities Included And Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
| Carlyle Holdings partnership units deemed antidilutive | 226,419,959 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Weighted Average Number Of Antidilutive Shares Outstanding Parent No definition available.
|
|
Earnings Per Common Unit - Basic and Diluted Net Income Per Common Unit (Detail) (USD $)
In Millions, except Share data, unless otherwise specified |
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
| Earnings Per Share [Line Items] | |
| Net income attributable to The Carlyle Group L.P.Basic | $ 33.8 |
| Weighted-average common units outstanding, Basic | 43,343,268 |
| Net income per common unit, Basic | $ 0.78 |
| Net income attributable to The Carlyle Group L.P.Diluted | $ 33.8 |
| Weighted-average common units outstanding, Diluted | 51,109,008 |
| Net income per common Unit, Diluted | $ 0.66 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Share based compensation arrangement by share based payment award equity instruments other than options forfeiture rate. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to employees under equity-based compensation awards that have yet to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other than shares newly issued, the number of additional shares issued (for example, a stock split) or canceled (for example, to correct a share issuance), during the period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of share instruments newly issued under a share-based compensation plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Equity-Based Compensation - Summary of Status of Non-Vested Equity-Based Awards (Detail) (USD $)
|
3 Months Ended | |||
|---|---|---|---|---|
|
Mar. 31, 2013
Carlyle Holdings [Member]
|
Dec. 31, 2012
Carlyle Holdings [Member]
|
Mar. 31, 2013
Equity Settled Awards [Member]
Deferred Restricted Common Units [Member]
The Carlyle Group, L.P. [Member]
|
Mar. 31, 2013
Cash Settled Awards [Member]
Phantom Units [Member]
The Carlyle Group, L.P. [Member]
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Beginning Balance | 57,850,299 | 57,850,299 | 16,707,028 | 334,614 |
| Granted, Units | 1,207,960 | |||
| Forfeited, Units | 311,662 | 7,616 | ||
| Ending Balance | 57,850,299 | 57,850,299 | 17,603,326 | 326,998 |
| Weighted-Average Grant Date Fair Value, Beginning Balance | $ 22.12 | $ 22.12 | $ 22.12 | $ 22.00 |
| Weighted-Average Grant Date Fair Value, Granted | $ 31.90 | |||
| Weighted-Average Grant Date Fair Value, Forfeited | $ 22.00 | $ 22.00 | ||
| Weighted-Average Grant Date Fair Value, Ending Balance | $ 22.12 | $ 22.12 | $ 22.80 | $ 22.00 |
| X | ||||||||||
|
- Definition
Units granted under share-based compensation arrangement other than as part of the initial public offering. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted-average grant date fair value of units granted under share-based compensation arrangement other than as part of the initial public offering. No definition available.
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Segment Reporting - Additional Information (Detail)
|
3 Months Ended |
|---|---|
|
Mar. 31, 2013
Segment
|
|
| Operating Statistics [Line Items] | |
| Number of reportable segments | 4 |
| Date of acquisition of AlpInvest | July 1, 2011 |
|
Non-controlling interest in AlpInvest [Member]
|
|
| Operating Statistics [Line Items] | |
| Percentage of equity interest of acquisition | 60.00% |
| Percentage of economic interest | 60.00% |
|
Emerging Sovereign Group LLC [Member] | Claren Road [Member]
|
|
| Operating Statistics [Line Items] | |
| Percentage of economic interest | 55.00% |
| X | ||||||||||
|
- Definition
Date of acquisition of partnership, our fund of funds solutions segment. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Percentage of economic interest. No definition available.
|
| X | ||||||||||
|
- Definition
In a business combination achieved in stages, this element represents the acquisition-date percentage of equity in the acquiree held by the acquirer immediately before the acquisition date. No definition available.
|
| X | ||||||||||
|
- Definition
Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
|
| X | ||||||||||
|
- Definition
Total costs of sales and operating expenses for the period. No definition available.
|
| X | ||||||||||
|
- Definition
Reflects the amount of net realized earnings without the effects of consolidation of the consolidated funds. Represents economic net income less net performance fees and investment income plus realized net performance fees and realized investment income. No definition available.
|
| X | ||||||||||
|
- Definition
Represents segment net income which excludes the impact of income taxes, acquisition-related items including amortization of acquired intangibles and contingent considerations taking the form of earn-outs, charges for stock-based compensation grants issued as part of the initial public offering, corporate actions, and infrequently occurring or unusual events. No definition available.
|
| X | ||||||||||
|
- Definition
Equity-based compensation. No definition available.
|
| X | ||||||||||
|
- Definition
Reflects the ability of the business to cover direct base compensation and operating expenses from fee revenues other than performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Total fee revenues. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
|
| X | ||||||||||
|
- Definition
Expenditures for salaries for other than investment professionals. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. No definition available.
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Fees earned for providing investment advice and research to customers. Such services may include the investment management of mutual funds and separate accounts. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of total performance fee revenue less performance fee-related compensation expense. No definition available.
|
| X | ||||||||||
|
- Definition
Net realized performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Compensation of our investment professionals related to realized performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Compensation of our investment professionals related to unrealized performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Fees received from a carry fund that had a distribution event. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total performance fee. No definition available.
|
| X | ||||||||||
|
- Definition
Fees earned from a carry fund that we would be eligible to receive upon a hypothetical liquidation of the fund at fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Portfolio advisory fees. No definition available.
|
| X | ||||||||||
|
- Definition
Investment income (loss) realized represents the gains and losses on the partnership's principal investments, including its investments in funds that are not consolidated, its equity method investments, and other principal investments. Investment income (loss) is realized when the partnership redeems all or a portion of its investment or when the partnership receives cash income, such as dividends or distributions, from its non-consolidated funds. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. No definition available.
|
| X | ||||||||||
|
- Definition
Expenditures for salaries other than officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. No definition available.
|
| X | ||||||||||
|
- Definition
Transaction And Other Fees Net No definition available.
|
| X | ||||||||||
|
- Definition
Investment Income (Loss) Unrealized represents the unrealized gains and losses on the Partnership's principal investments, including its investments in Funds that are not consolidated, its equity method investments, and other principal investments. Unrealized Investment Income (Loss) results from changes in the fair value of the underlying investment as well as the reversal of unrealized gain (loss) at the time an investment is realized. No definition available.
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of net assets (total assets less total liabilities) attributed to the reportable segment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Reporting - Total Segments to Partnership Income Before Provision for Taxes Reconciliation (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | ||
|---|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
|
| Operating Statistics [Line Items] | |||
| Revenues | $ 1,145.0 | $ 1,110.9 | |
| Expenses | 904.1 | 477.2 | |
| Other income | 211.5 | 872.1 | |
| Economic net income | 452.4 | 1,505.8 | |
| Total assets | 32,651.5 | 31,566.6 | |
|
Total Reportable Segments [Member]
|
|||
| Operating Statistics [Line Items] | |||
| Revenues | 852.1 | 893.5 | |
| Expenses | 458.2 | 501.4 | |
| Other income | |||
| Economic net income | 393.9 | 392.1 | |
| Total assets | 5,132.5 | ||
|
Consolidated Funds [Member]
|
|||
| Operating Statistics [Line Items] | |||
| Revenues | 268.4 | 211.5 | |
| Expenses | 333.2 | 220.2 | |
| Other income | 212.6 | 870.5 | |
| Economic net income | 147.8 | 861.8 | |
| Total assets | 27,609.9 | ||
|
Reconciling Items [Member]
|
|||
| Operating Statistics [Line Items] | |||
| Revenues | 24.5 | 5.9 | |
| Expenses | 112.7 | (244.4) | |
| Other income | (1.1) | 1.6 | |
| Economic net income | (89.3) | 251.9 | |
| Total assets | $ (90.9) | ||
| X | ||||||||||
|
- Definition
Represents segment net income which excludes the impact of income taxes, acquisition-related items including amortization of acquired intangibles and contingent considerations taking the form of earn-outs, charges for stock-based compensation grants issued as part of the initial public offering, corporate actions, and infrequently occurring or unusual events. No definition available.
|
| X | ||||||||||
|
- Definition
Net Gains (Losses) from Consolidated Funds and other consolidated entities' investment activities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Reporting - Expenses Adjustment Representing Elimination of Intercompany Expenses (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Operating Statistics [Line Items] | ||
| Partner compensation | $ (271.0) | |
| Equity-based compensation issued in conjuction with the initial public offering and strategic investments | 52.1 | |
| Acquisition related charges and amortization of intangibles | 62.5 | 24.1 |
| Losses associated with debt refinancing activities | 1.9 | |
| Other non-operating expenses | (2.4) | (4.1) |
| Severance and lease terminations | 0.5 | 2.4 |
| Non-Carlyle economic interests in acquired business | 78.9 | 38.0 |
| Other adjustments | 0.9 | (0.2) |
| Elimination of expenses of Consolidated Funds | (81.7) | (33.6) |
| Total expense adjustments | $ 112.7 | $ (244.4) |
| X | ||||||||||
|
- Definition
Acquisition related charges and amortization of intangibles. No definition available.
|
| X | ||||||||||
|
- Definition
Cost and expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Economic interests in acquired business. No definition available.
|
| X | ||||||||||
|
- Definition
Intersegment elimination expense. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Other intercompany expenses adjustments. No definition available.
|
| X | ||||||||||
|
- Definition
Partner compensation. No definition available.
|
| X | ||||||||||
|
- Definition
Severance and lease terminations. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration for segment reporting purposes. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. No definition available.
|
| X | ||||||||||
|
- Definition
For a debtor, the aggregate gain (loss) recognized on the restructuring of payables arises from the difference between the book value of the debt before the restructuring and the fair value of the payments on the debt after restructuring is complete. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of other expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating expense recognized during the period. Such amounts may include: (a) unusual costs, (b) loss on foreign exchange transactions, (c) losses on securities (net of profits), and (d) miscellaneous other expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Acquisition related charges and amortization of intangibles. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Reflects the amount of net realized earnings without the effects of consolidation of the consolidated funds. Represents economic net income less net performance fees and investment income plus realized net performance fees and realized investment income. No definition available.
|
| X | ||||||||||
|
- Definition
Represents segment net income which excludes the impact of income taxes, acquisition-related items including amortization of acquired intangibles and contingent considerations taking the form of earn-outs, charges for stock-based compensation grants issued as part of the initial public offering, corporate actions, and infrequently occurring or unusual events. No definition available.
|
| X | ||||||||||
|
- Definition
Equity-based compensation issued in conjunction with the initial public offering. No definition available.
|
| X | ||||||||||
|
- Definition
Reflects the ability of the business to cover direct base compensation and operating expenses from fee revenues other than performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Investment income. No definition available.
|
| X | ||||||||||
|
- Definition
Investment Income Loss Realized No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of total performance fee revenue less performance fee-related compensation expense. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Other intercompany expenses adjustments. No definition available.
|
| X | ||||||||||
|
- Definition
Partner compensation. No definition available.
|
| X | ||||||||||
|
- Definition
Performance fee realized net of related compensation. No definition available.
|
| X | ||||||||||
|
- Definition
Provision for income taxes attributable to non-controlling interests in consolidated entities. No definition available.
|
| X | ||||||||||
|
- Definition
Severance and lease terminations. No definition available.
|
| X | ||||||||||
|
- Definition
For a debtor, the aggregate gain (loss) recognized on the restructuring of payables arises from the difference between the book value of the debt before the restructuring and the fair value of the payments on the debt after restructuring is complete. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the amount of total performance fee revenue less performance fee-related compensation expense. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Compensation of our investment professionals related to realized performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Performance fee realized net. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Performance fee related compensation expense. No definition available.
|
| X | ||||||||||
|
- Definition
Fees received from a carry fund that had a distribution event. No definition available.
|
| X | ||||||||||
|
- Definition
Fees earned from a carry fund that we would be eligible to receive upon a hypothetical liquidation of the fund at fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Compensation of our investment professionals related to unrealized performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Performance fee unrealized net. No definition available.
|
| X | ||||||||||
|
- Definition
Investment income (loss) realized represents the gains and losses on the partnership's principal investments, including its investments in funds that are not consolidated, its equity method investments, and other principal investments. Investment income (loss) is realized when the partnership redeems all or a portion of its investment or when the partnership receives cash income, such as dividends or distributions, from its non-consolidated funds. No definition available.
|
| X | ||||||||||
|
- Definition
Investment Income (Loss) Unrealized represents the unrealized gains and losses on the Partnership's principal investments, including its investments in Funds that are not consolidated, its equity method investments, and other principal investments. Unrealized Investment Income (Loss) results from changes in the fair value of the underlying investment as well as the reversal of unrealized gain (loss) at the time an investment is realized. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of revenues earned by the entity based on the investment results achieved, including, but not limited to, revenues related to management of investment fund assets. Excludes fees based upon a percentage of the assets under management, which are not performance-related fees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Subsequent Events - Additional Information (Detail) (Subsequent Event [Member], USD $)
|
1 Months Ended |
|---|---|
|
May 31, 2013
|
|
|
Subsequent Event [Member]
|
|
| Subsequent Event [Line Items] | |
| Distribution per common unit | $ 0.16 |
| Dividends payable, date of record | May 20, 2013 |
| Dividends payable, date to be paid | May 31, 2013 |
| X | ||||||||||
|
- Definition
Common Share Distribution Paid Per Share No definition available.
|
| X | ||||||||||
|
- Definition
Date the declared dividend will be paid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date the holder must own the stock to be entitled to the dividend, in CCYY-MM-DD format. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of realized performance fees, if the fund were liquidated at the reporting date fair value, that would be given back to the fund investors at the end of the fund's life if the fund fair value does not recover sufficiently to pass through the hurdle rate that allows for the recognition of performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Amounts represent performance fees that our existing, unrealized fund portfolio would generate if we sold every asset across all of our funds at fair value as of the end of the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
Cash and cash equivalents held at Consolidated Funds represents cash and cash equivalents held by consolidated Funds and other consolidated entities. Such amounts are not available to fund general liquidity needs of the business. No definition available.
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entities' consolidated funds and other consolidated entities by means of direct or indirect ownership. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of partners' capital appropriated for consolidated funds and other consolidated entities. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments held at the Consolidated Funds and other consolidated entities. No definition available.
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, aggregate carrying value as of the balance sheet date of loans payable held at consolidated funds and other consolidated entities. No definition available.
|
| X | ||||||||||
|
- Definition
Total of all partners' capital which is attributable to Carlyle Holdings. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred by Consolidate Funds and other consolidated entities through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. No definition available.
|
| X | ||||||||||
|
- Definition
Amounts represent restricted cash and securities held by consolidated funds and other consolidated entities. Such amounts are not available to fund general liquidity needs of the business. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of notes due 2023 with the highest claim on the assets of the issuer in case of bankruptcy or liquidation. Senior note holders are paid off in full before any payments are made to junior note holders. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of notes due 2043 with the highest claim on the assets of the issuer in case of bankruptcy or liquidation. Senior note holders are paid off in full before any payments are made to junior note holders. No definition available.
|
| X | ||||||||||
|
- Definition
Temporary equity partners capital. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences net of deferred tax asset attributable to deductible temporary differences and carryforwards after valuation allowances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, aggregate carrying value as of the balance sheet date of loans payable (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate fair value as of the reporting date of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Supplemental Financial Information - Supplemental Financial Position (Parenthetical) (Detail)
|
Mar. 31, 2013
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|---|---|
|
3.875% senior notes due 2023 [Member]
|
|
| Senior notes percentage | 3.875% |
|
5.625% senior notes due 2043 [Member]
|
|
| Senior notes percentage | 5.625% |
|
Consolidated Operating Entities [Member] | 3.875% senior notes due 2023 [Member]
|
|
| Senior notes percentage | 3.875% |
|
Consolidated Operating Entities [Member] | 5.625% senior notes due 2043 [Member]
|
|
| Senior notes percentage | 5.625% |
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Interest and other expenses relating to and incurred by the Consolidated Funds and other consolidated entities. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein held by Consolidated Funds and other consolidated entities. No definition available.
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Net income (loss) attributable to noncontrolling interest in subsidiary. No definition available.
|
| X | ||||||||||
|
- Definition
Net income loss in subsidiary. No definition available.
|
| X | ||||||||||
|
- Definition
Net Gains (Losses) from Consolidated Funds and other consolidated entities' investment activities. No definition available.
|
| X | ||||||||||
|
- Definition
Compensation of our investment professionals related to realized performance fees. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fees received from a carry fund that had a distribution event. No definition available.
|
| X | ||||||||||
|
- Definition
Fees earned from a carry fund that we would be eligible to receive upon a hypothetical liquidation of the fund at fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Compensation of our investment professionals related to unrealized performance fees. No definition available.
|
| X | ||||||||||
|
- Definition
Investment income (loss) realized represents the gains and losses on the partnership's principal investments, including its investments in funds that are not consolidated, its equity method investments, and other principal investments. Investment income (loss) is realized when the partnership redeems all or a portion of its investment or when the partnership receives cash income, such as dividends or distributions, from its non-consolidated funds. No definition available.
|
| X | ||||||||||
|
- Definition
Investment Income (Loss) Unrealized represents the unrealized gains and losses on the Partnership's principal investments, including its investments in Funds that are not consolidated, its equity method investments, and other principal investments. Unrealized Investment Income (Loss) results from changes in the fair value of the underlying investment as well as the reversal of unrealized gain (loss) at the time an investment is realized. No definition available.
|
| X | ||||||||||
|
- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fees earned for providing investment advice and research to customers. Such services may include the investment management of mutual funds and separate accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of revenues earned by the entity based on the investment results achieved, including, but not limited to, revenues related to management of investment fund assets. Excludes fees based upon a percentage of the assets under management, which are not performance-related fees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Expenditures for salaries other than officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Change in due to/from affiliates financing activities without consolidated funds. No definition available.
|
| X | ||||||||||
|
- Definition
The cash flow associated with distributions to predecessor owners. No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, the effect of exchange rate changes on cash balances held in foreign currencies. No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds the increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, the increase (decrease) during the reporting period in moneys or securities given as security including, but not limited to, contract, escrow, or earnest money deposits, retain-age (if applicable), deposits with clearing organizations and others, collateral, or margin deposits. No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, the aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, the increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, the net cash inflow or outflow from financing activity for the period. No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, the net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. No definition available.
|
| X | ||||||||||
|
- Definition
Non-cash performance fees excluding consolidated funds. No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, other income or gains included in net income that result in no cash inflows or outflows in the period and are not separately disclosed. No definition available.
|
| X | ||||||||||
|
- Definition
Payment Of Contingent Consideration No definition available.
|
| X | ||||||||||
|
- Definition
Payments Of Distributions To Common Unitholders No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, the cash outflow to return capital to noncontrolled interest, which generally occurs when noncontrolling shareholders reduce their ownership stake (in a subsidiary of the entity). This element does not include dividends paid to noncontrolling shareholders. No definition available.
|
| X | ||||||||||
|
- Definition
The cash flow associated with contributions from predecessor owners. No definition available.
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| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, the cash inflow contributed by noncontrolled interest that purchase additional shares or otherwise increase their ownership stake in a subsidiary of the entity. No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, the cash inflow associated with the sale and maturity (principal being due) of other investments, prepayment and call (request of early payment) of other investments not otherwise defined in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
Without the effects of the Consolidated Funds, the consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. No definition available.
|
| X | ||||||||||
|
- Definition
Senior notes due 2023 issued during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Senior notes due 2043 issued during the period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the period in accrued salaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash paid to purchase debt and equity securities, classified as operating activities, during the period; includes trading securities and any other investments classified as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the settlement of obligation drawn from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Supplemental Financial Information - Supplemental Statements of Cash Flows (Parenthetical) (Detail)
|
Mar. 31, 2013
|
|---|---|
|
3.875% senior notes due 2023 [Member]
|
|
| Senior notes percentage | 3.875% |
|
5.625% senior notes due 2043 [Member]
|
|
| Senior notes percentage | 5.625% |
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|