Discontinued — last reported Q4 '13
An increase indicates a growing backlog of future revenue, while a decrease suggests revenue is being recognized more immediately.
This represents management fee revenue that has been billed or earned but is deferred for recognition in future periods...
Standard in alternative asset management; peers often refer to this as 'Deferred Revenue' or 'Unearned Management Fees'.
ares_segment_operating_segments_deferred_management_fees_revenue