KKR & Co. Inc.

NYSE-KKR

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Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	5,263.1	4,857.9	4,496.7	4,906	5,111.1	6,058.4
Net Income
Depreciation & Amortization	-149.3	-163	-158.5	-119.3	-72.7	-10.1
Net Accretion and Amortization
Stock Based Compensation	732.9	735.3	746.6	746.4	693.2	655.1
Equity-Based Compensation
Other Adjustments	1,437.4	1,542	1,854.7	725.4	76.5	-1,352.8
Net Realized Gains - Asset Management and Strategic Holdings
Change in Unrealized Gains - Asset Management and Strategic Holdings
Capital Allocation-Based Income - Asset Management and Strategic Holdings
Net Realized Gains - Insurance
Net Investment and Policy Liability-Related Gains - Insurance
Interest Credited to Policyholder Account Balances (Net of Policy Fees) - Insurance
Other Non-Cash Amounts
Changes in Trading Assets	-3,226.7	-2,075.4	-343.8	-697.8	-483	-892.9
Investments Purchased - Asset Management and Strategic Holdings
Proceeds from Investments - Asset Management and Strategic Holdings
Changes in Trade Receivables	825.5	-153.5	348.4	565.8	798.5	2,134.8
Change in Premiums, Notes Receivable and Reinsurance Recoverable, Net of Reinsurance Premiums Payable - Insurance
Changes in Accrued Expenses	1,027.4	2,094.6	2,336.4	2,122.4	3,463.5	2,509.8
Change in Accrued Expenses and Other Liabilities
Changes in Other Operating Activities	-600	-2,041.4	-1,608.6	-1,599.1	-1,718.5	-1,138.9
Reinsurance Transactions and Acquisitions, Net of Cash Provided - Insurance
Change in Deferred Policy Acquisition Costs - Insurance
Change in Policy Liabilities and Accruals, Net - Insurance
Change in Consolidation
Change in Due from / to Affiliates
Change in Other Assets
Cash from Operating Activities	5,266.4	4,753.1	7,672.2	6,649.9	7,868.7	7,963.5
Net Cash Provided by Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-180.1	-186	-145.1	-141.5	-117.6	-90.4
Purchases of Fixed Assets
Development of Oil and Natural Gas Properties
Proceeds from Sale of Property, Plant & Equipment	—	—	—	—	—	—
Proceeds from Sale of Oil and Natural Gas Properties
Purchases of Investments	-85,231.6	-80,975.4	-87,011.2	-75,817.7	-70,098.7	-55,145.6
Investments Purchased - Insurance
Proceeds from Sale of Investments	71,237.7	68,715.4	71,141.8	56,877.1	54,186	43,219.7
Proceeds from Investments - Insurance
Payments for Business Acquisitions	—	—	—	—	—	—
Acquisition of Global Atlantic, Net of Cash Acquired
Acquisition of KJRM, Net of Cash Acquired
Other Investing Activities	24.2	36.5	18.5	34.7	48.5	77.1
Change in Restricted Cash and Cash Equivalents
Other Investing Activities, Net
Cash from Investing Activities	-14,296.1	-12,409.4	-15,996	-19,047.4	-15,981.7	-11,939.2
Net Cash Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Long-Term Debt	29,136.9	24,884.4	28,079.7	29,136.9	4,754.7	21,542.8
Proceeds from Debt Obligations
Repayments of Long-Term Debt	-25,677.3	-23,272.8	-25,915	-25,677.3	-4,010	-18,917.5
Repayment of Debt Obligations
Net Issuance / (Repayments) of Long-Term Debt	3,459.6	1,611.6	2,164.7	3,459.6	744.7	2,625.3
Issuance of Common Shares	—	—	—	—	—	—
Private Placement Share Issuance
Repurchases of Common Shares	—	—	—	—	—	—
Repurchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	—	—	—	—	—	—
Issuance of Preferred Shares	—	—	—	—	—	—
Issuance of Preferred Stock (Net of Issuance Costs)
Repurchases of Preferred Shares	—	—	—	—	—	—
Redemption of Series a and B Preferred Stock
Net Issuance / (Repurchases) of Preferred Shares	—	—	—	—	—	—
Common Share Dividends Paid	-612.1	-631	-621.5	-612.1	-146	-588.9
Common Stock Dividends
Preferred Share Dividends Paid	—	—	—	—	—	—
Series C Mandatory Convertible Preferred Stock Dividends
Series a and B Preferred Stock Dividends
Other Financing Activities	6,803.3	6,081.6	5,236.7	4,228.8	6,544	10,540.4
Distributions to Redeemable Noncontrolling Interests
Contributions from Redeemable Noncontrolling Interests
Distributions to Noncontrolling Interests
Contributions from Noncontrolling Interests
2024 GA Acquisition - Cash Consideration
Net Delivery of Common Stock
Financing Costs Paid
Additions to Contractholder Deposit Funds - Insurance
Withdrawals from Contractholder Deposit Funds - Insurance
Reinsurance Transactions, Net of Cash Provided - Insurance
Other Financing Activity, Net - Insurance
Cash from Financing Activities	7,076.3	9,564.2	10,634.5	7,076.3	7,142.7	9,352.9
Net Cash Provided by Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	5,086.3	4,567.1	7,527.1	6,508.3	7,751.1	7,873.1
NOPAT	-3,243.5	-4,014.5	-3,848	-2,796.5	-2,799	-1,592.6
Levered Free Cash Flow	2,602.8	1,253	4,453.3	6,100.5	4,807.6	6,866.2
Unlevered Free Cash Flow	-6,372.2	-6,385.6	-3,767.5	-3,231.9	-1,727.2	-1,215.1
Net Change in Cash	-1,953.3	1,907.8	2,310.7	-5,321.2	-970.4	5,377.1