Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 330

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 330
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 before income tax (provision) benefit and total revenues reported in the condensed consolidated statements of operations:

93

Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Three months ended June 30,Six months ended June 30,(In millions)2025202420252024Segment Income$1,495 $1,259 $2,872 $2,559 Asset Management Adjustments:Equity-based profit sharing expense1,5(38)(45)(68)(139)Equity-based compensation(102)(84)(201)(158)Net (income) loss attributable to non-controlling interests in consolidated entities266 323 815 700 Unrealized performance fees5(28)86 91 354Unrealized profit sharing expense543 (35)(62)(194)HoldCo interest and other financing costs2(36)(15)(70)(30)Unrealized principal investment (income) loss511 (1)9 10 Unrealized net (gains) losses from investment activities5(293)(20)(354)(4)Transaction-related costs, restructuring and other non-operating expenses3(70)(67)(346)(118)Retirement Services Adjustments:Investment gains (losses), net of offsets(509)(124)(358)(146)Non-operating change in insurance liabilities and related derivatives4149 203 (218)876 Integration, restructuring and other non-operating expenses(32)(31)(62)(61)Equity-based compensation(11)(11)(22)(24)Income (loss) before income tax (provision) benefit$845 $1,438 $2,026 $3,625 1 Equity-based profit sharing expense 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 Represents interest and other financing costs related to AGM not attributable to any specific segment.3 Transaction-related costs, restructuring and other non-operating expenses includes: (a) contingent consideration, certain equity-based charges, amortization of intangible assets and