Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 130

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 130
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 annuities, stochastic equity return scenarios are also included within the range. A risk margin is incorporated within the discount rate to reflect uncertainty in the projected cash flows such as variations in policyholder behavior, as well as a credit spread to reflect nonperformance risk, which is considered an unobservable input. Athene uses its public credit rating relative to the U.S. Treasury curve as of the valuation date to reflect its nonperformance risk in the fair value estimate of market risk benefits.The following summarizes the unobservable inputs for market risk benefits:March 31, 2025(In millions, except percentages)Fair ValueValuation TechniqueUnobservable InputsMinimumMaximumWeighted AverageImpact of an Increase in the Input on Fair ValueMarket risk benefits, net$4,077 Discounted cash flowNonperformance risk0.5 %1.3 %1.1 %1DecreaseOption budget0.5 %6.0 %2.4 %2DecreaseSurrender rate3.1 %6.8 %4.5 %2DecreaseUtilization rate28.6 %95.0 %85.1 %3IncreaseMarch 31, 2024(In millions, except percentages)Fair ValueValuation TechniqueUnobservable InputsMinimumMaximumWeighted AverageImpact of an Increase in the Input on Fair ValueMarket risk benefits, net$3,340 Discounted cash flowNonperformance risk0.4 %1.2 %1.1 %1DecreaseOption budget0.5 %6.0 %2.0 %2DecreaseSurrender rate3.1 %6.6 %4.4 %2DecreaseUtilization rate28.6 %95.0 %84.1 %3Increase1 The nonperformance risk weighted average is based on the cash flows underlying the market risk benefit reserve.2 The option budget and surrender rate weighted averages are calculated based on projected account values.3 The utilization of GLWB withdrawals represents the estimated percentage of policyholders that are expected to use their income rider over the duration of the contract, with the weighted average based on current account values.

9. Profit Sharing PayableProfit sharing payable was $1.9 billion and $1.9 billion as of March 31, 2025 and December 31, 2024, respectively. The below is a roll-forward of the profit-sharing payable balance:(In millions)TotalProfit