AFFILIATED MANAGERS GROUP, INC.AMG

AFFILIATED MANAGERS GROUP, INC. Commitments Disclosure

10-KFiled Feb 17, 20262 min read
Commitments and Contingencies
From time to time, the Company and its Affiliates may be subject to claims, legal proceedings, and other contingencies in
the ordinary course of their business activities.  Any such matters are subject to various uncertainties, and it is possible that
some of these matters may be resolved in a manner unfavorable to the Company or its Affiliates.  The Company and its
Affiliates establish accruals, as necessary, for matters for which the outcome is probable and the amount of the liability can be
reasonably estimated.  For matters for which the outcome is probable but not reasonably estimable or where the outcome is
reasonably possible but not probable, the Company provides disclosure related to such matters, as necessary.
The Company has committed to co-invest in certain Affiliate sponsored investment products.  As of December 31, 2025,
these unfunded commitments were $285.0 million and may be called in future periods.
As of December 31, 2025, the Company was contingently liable to make payments in connection with a consolidated
Affiliate, which are included in Other liabilities.  The Company is contingently liable to make maximum contingent payments
of up to $100.0 million ($24.9 million attributable to a co-investor).  The fair value of contingent payment obligation was
$0.0 million.  The final measurement date of the contingent payment obligation is in July 2026.
As of December 31, 2025, the Company was obligated to make deferred payments of $85.8 million related to certain of its
investments in Affiliates accounted for under the equity method, of which $56.4 million is payable in 2026 and $29.4 million is
payable in 2027.  Deferred payment obligations are included in Other liabilities.
As of December 31, 2025, the Company was contingently liable to make payments of $451.7 million related to the
achievement of specified financial targets by certain of its Affiliates accounted for under the equity method, of which $4.0
million may become payable in 2026, $366.4 million may become payable in 2027, $35.9 million may become payable in 2028,
and $22.7 million may become payable in each of 2029 and 2030.
Affiliate equity interests provide holders at consolidated Affiliates with a conditional right to put their interests to the
Company over time.  See Note 14.
The Company and certain of its consolidated Affiliates operate under regulatory authorities that require the maintenance of
minimum financial or capital requirements.  The Company’s management is not aware of any significant violations of such
requirements.

Historical Timeline

Fiscal YearFiled
2025Feb 17, 2026Showing above
2024Feb 14, 2025
2023Feb 16, 2024
2022Feb 17, 2023
2021Feb 18, 2022
2020Feb 19, 2021
2019Feb 28, 2020
2018Feb 22, 2019
2017Feb 23, 2018
2016Feb 24, 2017
2015Feb 25, 2016

About Commitments Disclosures

Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.

Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.

Other Available Disclosures

Income TaxesRevenueEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtStock CompensationNew StandardsPay vs Performance