Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 402

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 402
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Three months ended June 30,Six months ended June 30,(In millions)2025202420252024GAAP Net Income (Loss) Attributable to Apollo Global Management, Inc.$605 $828 $1,023 $2,231 Preferred dividends25 25 49 49 Net income (loss) attributable to non-controlling interests212 324 708 662 GAAP Net Income (Loss)$842 $1,177 $1,780 $2,942 Income tax provision (benefit)3 261 246 683 GAAP Income (Loss) Before Income Tax Provision (Benefit)$845 $1,438 $2,026 $3,625 Asset Management Adjustments:Equity-based profit sharing expense1384568139Equity-based compensation10284201158Net (income) loss attributable to non-controlling interests in consolidated entities(266)(323)(815)(700)Unrealized performance fees28 (86)(91)(354)Unrealized profit sharing expense(43)35 62 194 HoldCo interest and other financing costs236 15 70 30 Unrealized principal investment (income) loss(11)1 (9)(10)Unrealized net (gains) losses from investment activities293 20 354 4 Transaction-related costs, restructuring and other non-operating expenses370 67 346 118 Retirement Services Adjustments:Investment (gains) losses, net of offsets509 124 358 146 Non-operating change in insurance liabilities and related derivatives4(149)(203)218 (876)Integration, restructuring and other non-operating expenses32 31 62 61 Equity-based compensation11 11 22 24 Segment Income1,495 1,259 2,872 2,559 HoldCo interest and other financing costs2(36)(15)(70)(30)Taxes and related payables(280)(235)(504)(456)Adjusted Net Income$1,179 $1,009 $2,298 $2,073 1 Equity-based profit sharing expense includes certain profit sharing arrangements in which a portion of performance fees distributed to the general partner are required to be used by employees of Apollo to purchase restricted shares of common stock or is delivered in the form of RSUs, which are granted under the Equity Plan. Equity-based profit sharing expense