Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 221

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 221
---
 account dividends and distributions, if any, as if they were reinvested without regard to commission.5 AUM is presented on a three-month lag, as of December 31, 2024, based upon the availability of the information.6 ADREF, ADCF and ARIS are not publicly traded vehicles and therefore IPO years are not applicable. The returns presented are for their respective Class I shares and are net returns based on NAV. 7 Other includes, among others, AUM of $2.0 billion related to a publicly traded business development company from which Apollo earns investment-related service fees, but for which Apollo does not provide management or advisory services, as of December 31, 2024. Returns and IPO year are not provided for this AUM. Other also includes AUM of $8.2 billion related to third-party capital within AAA.

126

Summary of Non-U.S. GAAP Measures

The table below sets forth a reconciliation of net income attributable to Apollo Global Management, Inc. common stockholders to Segment Income and Adjusted Net Income:

Three months ended March 31,(In millions)20252024GAAP Net Income (Loss) Attributable to Apollo Global Management, Inc.$418 $1,403 Preferred dividends24 24 Net income (loss) attributable to non-controlling interests496 338 GAAP Net Income (Loss)$938 $1,765 Income tax provision (benefit)243 422 GAAP Income (Loss) Before Income Tax Provision (Benefit)$1,181 $2,187 Asset Management Adjustments:Equity-based profit sharing expense13094Equity-based compensation9974Net (income) loss attributable to non-controlling interests in consolidated entities(549)(377)Unrealized performance fees(119)(268)Unrealized profit sharing expense105 159 HoldCo interest and other financing costs234 15 Unrealized principal investment (income) loss2 (11)Unrealized net (gains) losses from investment activities61 (16)Transaction-related costs, restructuring and other non-operating expenses3276 51 Retirement Services Adjustments:Investment (gains) losses, net of offsets(151)22 Non-operating change in insurance liabilities and related derivatives4367 (673)Integration, restructuring and other non-operating expenses30 30 Equity-based compensation11 13 Segment Income1,377 1,300 HoldCo interest and