This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
increased 5%, reflecting a higher tax rate compared to a year ago. Our as-adjusted tax rate for the third quarter was 26%. The prior-year quarter included $215 million of discrete tax benefits, while the third quarter of 2024 was impacted by $22 million of discrete expense. Earnings per share of $11.46
And we delivered a 25% free cash flow margin on a trailing 12-month basis or 30% on a pre-tax basis. above the high end of our guidance range, driven by the items I just highlighted, and a slightly lower tax rate, driven by several discrete items related to additional foreign tax credits and incentives. per diluted share.
Dealflow is very strong, and we believe that we are still the best partner in the industry. Our effective GAAP tax rate during the quarter was 28.6%, an increase over the effective tax rate in the third quarter of 2023 of 18.6%. We continue to expect a normalized tax rate of about 32%. million or $0.24
We finished 2023 on a strong note with another consecutive quarter of management fee and FRE growth, 11 for 11 since we've been a publiccompany, against a market backdrop that has been exceptionally volatile and uncertain. We intend to launch a strategy focused on triple net lease in Europe, driven by dealflow we already see today.
The tax-efficient net unrealized gain on our equity portfolio now stands at $5.4 While we, as a publiccompany, always provide you with the split times quarterly results, we are running a marathon, not a series of sprints. Our effective tax rate for the first half of 2023 was 21%, compared to 22% in the same period last year.
And is there any difference in linearity of dealflow during the quarter, this quarter versus previous quarters? Just with the tax, more recently, you're increasingly targeting identity systems. It's our entire history as a publiccompany, and we're going to continue with that. And then one more if I may.
Just really a fascinating history from, from a private company to a publiccompany back to a, a partnership. He is uniquely situated because he has run both public mutual funds as well as privates, including late stage venture private equity credit down the list. They’ve been around literally nearly a century.
Eva Shang : So at the time that we launched, there were already publiccompanies that were doing litigation finance. So in the early years we only had 10 million of assets, but we had billions of dollars of dealflow. You, you could show up in a way that isn’t taxing to them.
Aman, obviously, is not a publiccompany. And again, I -- at a time like this when the gaming dealflow is what it is, we believe we serve our stockholders very well by developing these kinds of relationships to give our stockholders participation in what we think is some of the most compelling placemaking taking place right now.
And the Government segment was weaker than we had anticipated based on timing of dealflow. Through our divestiture program, which generated approximately $780 million of after-tax proceeds, we repurchased 52 million shares and prepaid $639 million against our term loans, including $100 million in the fourth quarter.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content