KKR & (KKR) 10-K Summary — Year Ended Dec 31, 2023

KKR & Co. Inc. reported a substantial increase in annual revenue and positive net income for the year. Operating cash flow was negative, and the filing highlights material risks and capital allocation themes.

Key takeaway

Year ended Dec 31, 2023 · FY2025 10-K

Financial snapshot

Selected annual figures reported with the filing, shown separately from the narrative summary.

Annual revenue

$14.5B

Revenue reported for the fiscal year.

Operating income

n/a

Income from operations reported for the year.

Net income

$3.7B

Net income reported for the year.

Operating cash flow

-$1.5B

Cash generated by operating activities.

Annual revenue trend

Reported annual revenue and its change from the preceding fiscal year.

Period ended	Revenue	Year-over-year change
Dec 31, 2021	$16.2B	n/a
Dec 31, 2022	$5.7B	-64.8%
Dec 31, 2023	$14.5B	+154.2%

Business overview

The filing's Business overview section describes the company's operations as a global investment firm. It manages assets across multiple strategies and generates revenue from management and performance fees.

Financial performance

Annual revenue increased significantly compared to the prior year, and net income was positive. However, operating cash flow was negative, indicating cash used in operations during the period.

Material risks

The filing identifies risk factors related to market conditions, investment performance, and regulatory changes. These risks could affect the company's financial results and operations.

Liquidity and capital

The Management's Discussion and Analysis section discusses liquidity and capital resources. Negative operating cash flow may influence the company's capital allocation decisions.

What to watch

Monitor the company's ability to generate positive operating cash flow in future periods.