Company: DBRG
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001679688-25-000100
Chunk: 93

Company: DigitalBridge Group, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 93
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 offset by fee decreases from our InfraBridge funds, in particular due to a change in fee basis from committed to invested capital effective late December 2024. Operating cost was $5.7 million higher, driven by higher compensation cost. 

47

Distributable Earnings 

DE was $11.0 million higher at $21.7 million in the third quarter of 2025 compared to the same period in 2024, with the increase driven by the growth in FRE, as discussed above. 

Distributable Earnings and Fee-Related Earnings Reconciliation

Three Months Ended September 30,(In thousands)20252024Net income (loss) attributable to common stockholders$16,753 $(883)Net income (loss) attributable to noncontrolling interests in Operating Company563 (50)Net income (loss) attributable to Operating Company17,316 (933)Transaction-related costs and non-core items (1)(2,374)9,541 Other (gain) loss, net (2)(5,821)(47,906)Unrealized principal investment income (3)(24,872)(4,415)Unrealized carried interest, net of associated expense (allocation) reversal (4)19,808 7,658 Equity-based compensation8,976 8,828 Depreciation and amortization expense7,130 8,227 Amortization of deferred financing costs, debt premiums and discounts406 524 Adjustments attributable to noncontrolling interests in investment entities (5)1,056 30,647 OP share of (income) loss from discontinued operations (6)86 (1,439)Distributable Earnings, after tax—attributable to Operating Company21,711 10,732 Realized principal investment (income) loss(394)(2,129)Interest, dividend and other income(3,144)(2,828)Interest expense and preferred dividends18,023 18,245 Placement fee and other1,319 1,247 Income tax (benefit) expense(221)887 Fee-Related Earnings—attributable to Operating Company$37,294 $26,154  

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(1)    Non-core items primarily include acquisition-related compensation and certain severance costs, as well as litigation and settlement-related matters, which are presented within compensation expense—cash and equity-based, administrative and other expenses, and other gain (loss), net