8-KOther EventsExhibits & Filings

KKR & Co. Inc. 8-K Report, Corporate Update (Nov 9, 2018)

Filed November 9, 2018For Securities:KKRKKRTKKR-PDKKRS

Summary

KKR & Co. Inc. (KKR) filed an 8-K on November 9, 2018, reporting on the impact of its conversion from a Delaware limited partnership to a Delaware corporation, effective July 1, 2018. This filing includes unaudited pro forma financial information demonstrating the effects of this conversion on the Company's statements of operations for the year ended December 31, 2017, and the nine months ended September 30, 2018. Investors should note that this is a structural change and the pro forma information aims to provide a clearer view of the company's performance as a corporation, reflecting a change in its legal entity structure rather than operational performance shifts. In addition to the conversion's financial impact, the filing also details modifications to the presentation of certain segment financial information, effective from the three and six months ended June 30, 2018. This revised segment reporting is also reflected in the provided exhibits. While these changes are primarily for presentation purposes and do not indicate changes in the underlying business operations, they are important for investors to understand when analyzing KKR's financial results and segment performance going forward.

Key Highlights

  • 1KKR & Co. Inc. officially converted from a limited partnership to a Delaware corporation on July 1, 2018.
  • 2The filing includes unaudited pro forma financial information to show the impact of the conversion on past financial periods.
  • 3Pro forma statements cover the year ended December 31, 2017, and the nine months ended September 30, 2018.
  • 4Segment financial information presentation has been modified, effective for periods starting June 30, 2018.
  • 5Exhibit 99.1 provides the unaudited pro forma financial information related to the corporate conversion.
  • 6Exhibit 99.2 details the updated segment financial information presentation.

Frequently Asked Questions

The main purpose of this 8-K filing is to report the official conversion of KKR & Co. Inc. from a Delaware limited partnership to a Delaware corporation, which became effective on July 1, 2018. It also provides updated segment financial information presentation.

The conversion itself is a legal and structural change, not an operational one. The unaudited pro forma financial information provided in Exhibit 99.1 aims to present the company's historical financial statements as if it had always been a corporation, allowing for a more consistent comparison of operational performance before and after the conversion. It does not fundamentally change the underlying business or its results.

KKR has modified the presentation of certain segment financial information. These changes are effective for periods beginning on or after June 30, 2018, and are reflected in Exhibit 99.2. This is primarily a change in how segment data is reported, not in the underlying business operations of those segments.

The detailed financial information is provided in the exhibits to this 8-K filing. Specifically, Exhibit 99.1 contains the unaudited pro forma financial information related to the corporate conversion, and Exhibit 99.2 contains the updated segment financial information.