v3.25.4
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Class A Shares
Class B Shares
Total common equity
Common stock
Common stock
Class A Shares
Common stock
Class B Shares
Common stock held in treasury
Additional paid-in capital
Retained deficit
Accumulated other comprehensive income
Non-controlling interest in consolidated entities
Non-controlling interest in consolidated funds
Beginning balance (in shares) at Dec. 31, 2022           1,590,175,873 21,280            
Beginning balance at Dec. 31, 2022 $ 9,606     $ 9,508 $ 9,271     $ 0 $ 0 $ 84 $ 153 $ 98 $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income 1,875     1,839           1,839   36  
Other comprehensive income 15     15             15    
Share subscriptions (in shares)           813,290              
Share subscriptions 0     0                  
Acquisition of treasury shares, net (in shares)           (8,234,552)              
Acquisition of treasury shares, net 0     0                  
Contributions 133     123 1       122     10  
Distributions (2,330)     (2,330) (229)         (2,101)      
Ending balance (in shares) at Dec. 31, 2023           1,582,754,611 21,280            
Ending balance at Dec. 31, 2023 9,299     9,126 9,014     0 122 (178) 168 173 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Transfer of interest 0     (29) (29)             29  
Net income 2,319     2,168           2,168   151 0
Other comprehensive income (6)     (6)             (6)    
Share subscriptions (in shares)           30,109,594              
Share subscriptions 3     3 3                
Acquisition of treasury shares, net (in shares)           1,374,076              
Acquisition of treasury shares, net (91)     (91)       (91)          
Contributions 46     30         30     16 0
2025 Arrangement                       0  
Distributions (2,482)     (2,478)           (2,478)   (4)  
Deconsolidation of consolidated funds                         0
Ending balance (in shares) at Dec. 31, 2024   1,614,238,281 21,280     1,614,238,281 21,280            
Ending balance at Dec. 31, 2024 9,088     8,752 9,017     (91) 152 (488) 162 336 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income 2,878     2,485           2,485   369 24
Other comprehensive income 26     26             26    
Share subscriptions (in shares)           785,664              
Share subscriptions (8)     (8) 16       (5) (19)      
Acquisition of treasury shares, net (in shares)           (6,531,303)              
Acquisition of treasury shares, net (428)     (428)       (428)          
Contributions 375     151         151     61 163
2025 Arrangement 0     (31) 120     (7) (144)     31  
Distributions (2,851)     (2,827)           (2,827)   (24)  
Deconsolidation of consolidated funds (168)     (2)           (2)   (17) (166)
Ending balance (in shares) at Dec. 31, 2025   1,608,492,642       1,608,492,642 21,280            
Ending balance at Dec. 31, 2025 $ 8,912     $ 8,118 $ 9,153     $ (526) $ 154 $ (851) $ 188 $ 773 $ 21