Ares Management Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Year	2023	2022	2021	2020	2019	2018 - 2011
Net Income	474.33	167.54	386.75	130.44	127.18	Upgrade
Depreciation & Amortization	231.71	341.34	113.29	41.25	39.46	Upgrade
Share-Based Compensation	255.97	200.39	237.19	122.99	97.69	Upgrade
Other Operating Activities	-1,195.26	-1,443.39	-3,355.37	-742.04	-2,369.06	Upgrade
Operating Cash Flow	-233.26	-734.11	-2,596.05	-425.66	-2,083.02	Upgrade
Capital Expenditures	-67.18	-35.8	-27.23	-15.94	-16.8	Upgrade
Acquisitions	-43.9	-301.58	-1,057.41	-120.82	0	Upgrade
Investing Cash Flow	-111.08	-337.38	-1,084.63	-136.76	-16.8	Upgrade
Dividends Paid	-1,030.67	-836.36	-593.51	-446.78	-323.67	Upgrade
Share Issuance / Repurchase	0	0	827.43	383.15	196.26	Upgrade
Debt Issued / Paid	1,682	1,769	2,833	1,152	2,141	Upgrade
Other Financing Activities	-359.65	195.05	436.52	-144.8	108.61	Upgrade
Financing Cash Flow	292.13	1,128	3,504	943.9	2,122	Upgrade
Exchange Rate Effect	10.5	-10.24	-19.1	19.96	5.62	Upgrade
Net Cash Flow	-41.71	46.33	-196.16	401.43	28.14	Upgrade
Free Cash Flow	-300.44	-769.91	-2,623.27	-441.6	-2,099.82	Upgrade
Free Cash Flow Margin	-8.27%	-25.20%	-62.28%	-25.03%	-118.94%	Upgrade
Free Cash Flow Per Share	-1.63	-4.39	-16.02	-3.27	-19.46	Upgrade

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).