Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 171

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 171
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,915 Commitments and Contingencies (note 16)Redeemable non-controlling interestsRedeemable non-controlling interests— 16 — 16 EquityMandatory Convertible Preferred Stock1,398 — — 1,398 Additional paid in capital15,287 40 — 15,327 Retained earnings (accumulated deficit)6,021 16,673 (16,672)6,022 Accumulated other comprehensive income (loss)(5,485)(60)51 (5,494)Total AGM Stockholders’ Equity17,221 16,653 (16,621)17,253 Non-controlling interests7,112 6,347 252 13,711 Total Equity24,333 23,000 (16,369)30,964 Total Liabilities, Redeemable non-controlling interests and Equity$368,409 $26,166 $(16,680)$377,895 (Concluded)

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ITEM 2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with Apollo Global Management, Inc.’s condensed consolidated financial statements and the related notes within this quarterly report. This discussion contains forward-looking statements that are subject to known and unknown risks and uncertainties. Actual results and the timing of events may differ significantly from those expressed or implied in such forward-looking statements due to a number of factors, including those included in the section entitled “Item 1A. Risk Factors” in the 2024 Annual Report. The highlights listed below have had significant effects on many items within our condensed consolidated financial statements and affect the comparison of the current period’s activity with those of prior periods.

General

Our Businesses

Founded in 1990, Apollo is a high-growth, global alternative asset manager and a retirement services provider. Apollo conducts its business primarily in the United States through the following three reportable segments: Asset Management, Retirement Services and Principal Investing. These business segments are differentiated based on the investment services they provide as well as varying investing strategies. As of March 31, 2025, Apollo had a team of 5,141 employees, including 1,984 employees of Athene.

Asset Management

Our Asset Management segment focuses on credit and equity investing strategies. We have a flexible mandate in many of the funds we manage which enables the funds to