Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 262

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 262
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Index to Condensed Consolidated Financial Statements (unaudited)

Condensed Consolidated Statements of Financial Condition (unaudited)12Condensed Consolidated Statements of Operations (unaudited)14Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited)15Condensed Consolidated Statements of Equity (unaudited)16Condensed Consolidated Statements of Cash Flows (unaudited)17Notes to Condensed Consolidated Financial Statements (unaudited)19Note 1. Organization19Note 2. Summary of Significant Accounting Policies19Note 3. Investments21Note 4. Derivatives29Note 5. Variable Interest Entities33Note 6. Fair Value36Note 7. Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired55Note 8. Long-duration Contracts56Note 9. Profit Sharing Payable64Note 10. Income Taxes65Note 11. Debt66Note 12. Equity-Based Compensation68Note 13. Equity69Note 14. Earnings per Share73Note 15. Related Parties74Note 16. Commitments and Contingencies78Note 17. Segments82Note 18. Subsequent Events86

Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)

(In millions, except share data)As of March 31, 2025As of December 31, 2024AssetsAsset ManagementCash and cash equivalents$1,871 $2,692 Restricted cash and cash equivalents3 3 Investments6,591 6,086 Assets of consolidated variable interest entitiesCash and cash equivalents231 158 Investments1,873 2,806 Other assets264 84 Due from related parties634 584 Goodwill264 264 Other assets2,677 2,579 14,408 15,256 Retirement ServicesCash and cash equivalents11,023 12,733 Restricted cash and cash equivalents2,210 943 Investments278,323 262,283 Investments in related parties29,834 28,884 Assets of consolidated variable interest entitiesCash and cash equivalents175 583 Investments24,653 23,424 Other assets362 565 Reinsurance recoverable8,790 8,194 Deferred acquisition costs, deferred sales