Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 282

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 282
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Unrealized principal investment (income) loss6(9)88 (176)Unrealized net gains (losses) from investment activities and other630 (26)144 Retirement Services Adjustments:Investment gains (losses), net of offsets217 170 (7,467)Non-operating change in insurance liabilities and related derivatives5846 182 1,433 Integration, restructuring and other non-operating expenses(239)(130)(133)Equity-based compensation(50)(88)(56)Income (loss) before income tax (provision) benefit$7,435 $5,586 $(4,246)1 Equity-based profit sharing expense and other includes certain profit sharing arrangements in which a portion of performance fees distributed to the general partner are required to be used by employees of Apollo to purchase restricted shares of common stock or is delivered in the form of RSUs, which are granted under the Equity Plan. Equity-based profit sharing expense and other also includes performance grants which are tied to the Company’s receipt of performance fees, within prescribed periods, sufficient to cover the associated equity-based compensation expense. 2 Transaction-related charges include contingent consideration, equity-based compensation charges and the amortization of intangible assets and certain other charges associated with acquisitions, and restructuring charges.3 Merger-related transaction and integration costs includes advisory services, technology integration, equity-based compensation charges and other costs associated with the Mergers.4 Represents interest and other financing costs related to AGM not attributable to any specific segment.5 Includes change in fair values of derivatives and embedded derivatives, non-operating change in funding agreements, change in fair value of market risk benefits, and non-operating change in liability for future policy benefits.6 Represents adjustments that primarily impact the Principal Investing segment.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Years ended December 31,(In millions)202420232022Segment Revenues$16,496 $13,579 $10,510 Asset Management Adjustments:Adjustments related to consolidated funds and VIEs1525 362 (364)Performance fees2273 126 (2)Principal investment income (loss)27 102 (136)Equity awards granted by unconsolidated related parties, reimbursable expenses and other1479 331 199 Retirement Services Adjustments:Premiums, product charges, investment related gains (losses) and other