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.