Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 85

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 85
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073 — Priced via independent broker-dealer quotations— — — — Priced via models or other methods261 — — 261 Total equity securities, including related parties1,524 190 1,073 261 Mortgage loansPriced via commercial pricing services61,057 — — 61,057 Priced via independent broker-dealer quotations— — — — Priced via models or other methods3,479 — — 3,479 Mortgage loans of consolidated VIEs2,579 — — 2,579 Total mortgage loans, including related parties and consolidated VIEs67,115 — — 67,115 Total fixed maturity securities, equity securities and mortgage loans, including related parties and consolidated VIEs$257,263 $8,030 $146,628 $102,605 Percentage of total100.0 %3.1 %56.9 %40.0 %

The Company measures the fair value of its securities based on assumptions used by market participants in pricing the assets, which may include inherent risk, restrictions on the sale or use of an asset, or nonperformance risk. The estimate of fair value is the price that would be received to sell a security in an orderly transaction between market participants in the principal market, or the most advantageous market in the absence of a principal market, for that security. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange while not under duress. The valuation of securities involves judgment, is subject to considerable variability and is revised as additional information becomes available. As such, changes in, or deviations from, the assumptions used in such valuations can significantly affect the Company’s consolidated financial statements. Financial markets are susceptible to severe events evidenced by rapid depreciation in security values accompanied by a reduction in asset liquidity. The Company’s ability to sell securities, or the price ultimately realized upon the sale of securities, depends upon the demand and liquidity in the market and increases the use of judgment in determining the estimated fair value of certain securities. Accordingly, estimates of fair value are not necessarily indicative of the amounts that could be realized in a current or future market exchange.

For fixed maturity securities, the Company obtains the fair values, when available, based on quoted prices in active markets that are regularly and readily obtainable. Generally, these are liquid securities and the valuation