KKR & Co Inc 2025年季度报告

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form10-Q QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF1934. For the quarterly period endedJune 30, 2025or TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF1934. KKR&CO.INC. (Exact name of Registrant as specified in its charter) 30 Hudson YardsNew York,New York10001Telephone: (212)750-8300(Address, zip code, and telephone number, includingarea code, of registrant's principal executive office.)Securities registered pursuant to Section12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-Tduring the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growthcompany. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule12b-2 of the ExchangeAct. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ As of August7, 2025, there were890,948,725shares of common stock of the registrant outstanding. Table of Contents KKR&CO.INC. FORM10-Q For the Quarterly Period Ended June 30, 2025 TABLE OF CONTENTS PART I — FINANCIAL INFORMATION Item 1.Financial StatementsUnaudited Condensed Consolidated Financial StatementsCondensed Consolidated Statements of Financial Condition (Unaudited) as ofJune30, 2025 and December 31, 20246Condensed Consolidated Statements of Operations (Unaudited) for the Threeand SixMonths EndedJune30, 2025 and 202410Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) for the Threeand SixMonths EndedJune30,2025 and 202412Condensed Consolidated Statements of Changes in Equity (Unaudited) for the Threeand SixMonths EndedJune30, 2025 and202413Condensed Consolidated Statements of Cash Flows (Unaudited) for theSixMonths EndedJune30, 2025 and 202415Notes to Financial Statements (Unaudited)18Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations109Item 3.Quantitative and Qualitative Disclosures About Market Risk198Item 4.Controls and Procedures198PART II — OTHER INFORMATIONItem 1.Legal Proceedings199Item 1A.Risk Factors199Item 2.Unregistered Sales of Equity Securities and Use of Proceeds199Item 3.Defaults Upon Senior Securities200Item 4.Mine Safety Disclosures200Item 5.Other Information200Item 6.Exhibits200SIGNATURES201 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the"Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which reflect our currentviews with respect to, among other things, our operations and financial performance. You can identify these forward-looking statements bythe use of words such as "outlook," "believe," "think," "expect," "potential," "continue," "may," "should," "seek," "approximately,""predict," "intend," "will," "plan," "estimate," "anticipate," “visibility”, “positioned”, “path to”, “conviction”, the negative version of thesewords, other comparable words or other statements that do not relate strictly to historical or factual matters. Without limiting the foregoing,forward-looking statements may include statements regarding KKR’s business, financial condition, liquidity and results of operations,including capital invested, uncalled commitments, cash and short-term investments, and levels of indebtedness; the potential for futurebusiness growth; outstanding shares of common stock of KKR & Co. Inc. and its capital structure; non-GAAP and segment measures andperformance metrics, including assets under management (“AUM”), fee paying assets under management (“FPAUM”), Adjusted NetIncome, Total Operating Earnings, Total Segment Earnings, Fee Related Earnings ("FRE"), Insurance Operating Earnings, StrategicHoldings Operating Earnings, Total Investing Earnings, and Total Segment Earnings; the declaration and payment of dividends on