Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 231

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 231
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 (7)3 670 AFS securities – related parties, ABS1 — — — 1 Total AFS securities, including related parties$598 $77 $(7)$3 $671 

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

Six months ended June 30, 2025AdditionsReductions(In millions)Beginning balanceInitial credit lossesSecurities sold during the periodAdditions (reductions) to previously impaired securitiesEnding balanceAFS securitiesCorporate$175 $— $— $(1)$174 ABS76 40 (3)17 130 CMBS60 — — 2 62 RMBS397 5 (10)2 394 Total AFS securities708 45 (13)20 760 AFS securities – related parties, ABS1 — — — 1 Total AFS securities, including related parties$709 $45 $(13)$20 $761 Six months ended June 30, 2024AdditionsReductions(In millions)Beginning balanceInitial credit lossesSecurities sold during the periodAdditions (reductions) to previously impaired securitiesEnding balanceAFS securitiesCorporate$129 $48 $(8)$(1)$168 CLO2 — — (2)— ABS49 12 (1)7 67 CMBS29 26 — 2 57 RMBS381 5 (10)2 378 Total AFS securities590 91 (19)8 670 AFS securities – related parties, ABS1 — — — 1 Total AFS securities, including related parties$591 $91 $(19)$8 $671 Net Investment IncomeNet investment income by asset class consists of the following:Three months ended June 30,Six months ended June 30,(In millions)2025202420252024AFS securities$2,877 $2,340 $5,541 $4,477 Trading securities66 44 108 85 Equity securities29 29 44 46 Mortgage loans1,262 890 2,385 1,704 Investment funds127 (19)165 (10)Funds withheld at interest