KKRS FY 2021 Earnings Report — KKR Group Finance Co. IX LLC 4. Revenue & Financial Results | Market Cap Arena

KKR Group Finance Co. IX LLC 4.KKRS

FY 2021 Earnings

Reported February 28, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$24.8B	—	$4.2B	—	486.7%
Op. Income	$10.8B	—	$1.3B	—	730.6%
Gross Margin	47.3%	—	49.1%	—	-1.8pp
Net Margin	49.5%	—	121.0%	—	-71.4pp
EPS (Diluted)	$7.42	—	$8.77	—	-15.4%
Free Cash Flow	-$7.3B	—	-$6.1B	—	-19.2%

Revenue Flow

Item	Amount
REVENUE	$24.8B
Cost of Revenue	$9.2B
GROSS PROFIT	$11.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.9B
SG&A Expenses	$1.9B
Other Expenses	-$983M
Operating Expenses	$959M
Cost & Expenses	$11.0B
OPERATING INCOME	$10.8B
Interest Income	$1.5B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$13.8B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$12.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$12.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$12.3B
D&A	$6.3B
EBIT	$0
EBITDA	$7.4B
EPS	$8
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$24.8B
Cost of Revenue	$9.2B
GROSS PROFIT	$11.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.9B
SG&A Expenses	$1.9B
Other Expenses	-$983M
Operating Expenses	$959M
Cost & Expenses	$11.0B
OPERATING INCOME	$10.8B
Interest Income	$1.5B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$13.8B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$12.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$12.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$12.3B
D&A	$6.3B
EBIT	$0
EBITDA	$7.4B
EPS	$8
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$12.3B
Depreciation & Amortization	$387M
Stock-Based Compensation	$530M
Deferred Income Tax	-$387M
Other Non-Cash Items	-$22.3B
Change in Working Capital	$2.3B
OPERATING CASH FLOW	-$7.2B
Capital Expenditure	-$102M
Acquisitions (Net)	-$474M
Purchases of Investments	-$58.6B
Sales/Maturities of Investments	$49.6B
Other Investing Activities	$20M
NET CASH FROM INVESTING	-$9.6B
Net Debt Issuance	$0
Common Stock Repurchased	-$770M
Common Dividends Paid	-$420M
Other Financing Activities	$20.8B
NET CASH FROM FINANCING	$20.4B
FREE CASH FLOW	-$7.3B
Net Change in Cash	$3.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$10.1B
Short-Term Investments	$0
Net Receivables	$29.0B
Inventory	$0
Other Current Assets	$557M
TOTAL CURRENT ASSETS	$39.7B
PP&E (Net)	$1.2B
Goodwill	$585M
Intangible Assets	$1.7B
Long-Term Investments	$212.5B
Tax Assets	$842M
Other Non-Current Assets	$7.7B
TOTAL NON-CURRENT ASSETS	$224.6B
TOTAL ASSETS	$264.3B
Account Payables	$3.9B
Short-Term Debt	$300M
Deferred Revenue	$60M
Other Current Liabilities	$26.9B
TOTAL CURRENT LIABILITIES	$31.1B
Long-Term Debt	$39.0B
Deferred Revenue NC	$720M
Deferred Tax Liabilities	$900M
Other Non-Current Liabilities	$134.4B
TOTAL NON-CURRENT LIABILITIES	$175.0B
TOTAL LIABILITIES	$206.1B
Common Stock	$6M
Additional Paid-In Capital	$0
Retained Earnings	$7.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$210M
Other Equity	$9.0B
TOTAL STOCKHOLDERS' EQUITY	$17.6B
Minority Interest	$40.6B
TOTAL EQUITY	$58.1B
TOTAL LIABILITIES & EQUITY	$264.3B
Total Debt	$39.3B
Net Debt	$29.2B