Company: DBRG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001679688-25-000017
Chunk: 14

Company: DigitalBridge Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 14
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 in fee basis to invested capital and syndication of an investment in 2024. FRE margin was marginally higher at 32% in 2024 compared to 31% in 2023.  

Distributable Earnings 

DE was $52.5 million in 2024 and $48.6 million in 2023. DE in 2024 reflected a $25.3 million increase in FRE and higher realized principal investment income. In comparison, DE in 2023 had benefited from $27.9 million of realized carried interest from the recapitalization of DataBank. This resulted in a year-over-year increase in DE of $3.9 million.  

49

Distributable Earnings and Fee-Related Earnings Reconciliation

Year Ended December 31,(In thousands)20242023Net income (loss) attributable to common stockholders$11,881 $127,551 Net income (loss) attributable to noncontrolling interests in Operating Company683 9,138 Net income (loss) attributable to Operating Company12,564 136,689 Transaction-related costs and non-core items (1)31,906 44,851 Other (gain) loss, net (2)(61,988)(91,187)Unrealized principal investment income(11,659)(145,448)Unrealized carried interest, net of associated expense (allocation) reversal (3)(46,556)(66,580)Equity-based compensation35,676 55,597 Depreciation and amortization expense33,706 36,651 Amortization of deferred financing costs, debt premiums and discounts2,296 2,784 Preferred stock redemption (gain) loss— (927)Adjustments attributable to noncontrolling interests in investment entities (4)36,487 7,629 OP share of (income) loss from discontinued operations (5)20,064 68,563 Distributable Earnings, after tax—attributable to Operating Company52,496 48,622 Realized principal investment income (6)(15,884)(8,497)Distributed carried interest and incentive fees subject to realization events, net of associated expense allocation (3)(285)(27,927)Interest, dividend and other income(14,424)(22,868)Interest expense and preferred dividends72,672 79,985 Placement fee and other expenses9,590 8,714 Income tax (benefit