Company: APO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001858681-25-000139
Chunk: 156

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 156
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 securities38 — (4)— 34 34 (88)(54)Mortgage loans70 — — (15)55 — — — Investment funds338 — — — 338 — (432)(432)Other investments37 — — — 37 — — — Total Level 3 assets – Retirement Services$13,401 $94 $(371)$(5,450)$7,674 $4,999 $(5,847)$(848)Liabilities - Asset ManagementContingent consideration obligations$— $— $— $(6)$(6)$— $— $— Total Level 3 liabilities – Asset Management$— $— $— $(6)$(6)$— $— $— Liabilities – Retirement ServicesInterest sensitive contract liabilities - embedded derivative$— $(750)$— $263 $(487)$— $— $— Other liabilities— — — 2 2 — — — Total Level 3 liabilities – Retirement Services$— $(750)$— $265 $(485)$— $— $— 

57

Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Nine months ended September 30, 2025(In millions)PurchasesIssuancesSalesSettlementsNet Purchases, Issuances, Sales and SettlementsTransfers InTransfers OutNet Transfers In (Out)Assets – Asset ManagementInvestments and derivative assets$83 $— $(13)$— $70 $— $— $— Investments of consolidated VIEs3,819 — (1,901)— 1,918 — (801)(801)Total Level 3 assets – Asset Management$3,902 $— $(1,914)$— $1,988 $— $(801)$(801)Assets – Retirement ServicesAFS securitiesForeign governments$— $— $— $(5)$(5)$— $— $— Corporate3,906 — (100)(414)3,392 251 (1,607)(1,356)ABS7,177 — (26)(