Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 440

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 15
Chunk 440
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 request. There was no outstanding balance on the note from AHL as of December 31, 2024 and 2023. Unsecured Revolving Note Payable – In addition to the unsecured revolving notes receivable described above, AGM has an unsecured revolving note payable to its subsidiary AHL. The note to AHL has a borrowing capacity of $500 million. Interest accrues at a rate per annum, equal to the U.S. mid-term applicable federal rate, and the balance is due on December 13, 2025, or earlier at AHL’s request. The note had an outstanding balance of $142 million and $109 million as of December 31, 2024 and 2023, respectively.3. DividendsDuring the years ended December 31, 2024, 2023 and 2022, AGM received $452 million, $1,082 million and $1,897 million, respectively, of dividends from its subsidiaries. See note 20 – “Statutory Requirements” to the consolidated financial statements for additional information on subsidiary dividend restrictions.4. Debt and GuaranteesSee note 14 – “Debt” and note 19 – “Commitments and Contingencies” to the consolidated financial statements for additional information on the Company’s debt and guarantees. 5. EquitySee note 16 – “Equity” to the consolidated financial statements for additional information on the Company’s 6.75% Series A Mandatory Convertible Preferred Stock.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.Schedule II—Valuation and Qualifying Accounts

(In millions)AdditionsDescriptionBalance at beginning of yearCharged to costs and expensesAssumed through acquisitionsDeductionsBalance at end of yearReserves deducted from assets to which they applyYear ended December 31, 2024Valuation allowance on deferred tax assets33 42 — — 75 Year ended December 31, 2023Valuation allowance on deferred tax assets105 156 — (228)33 Year ended December 31, 2022Valuation allowance on deferred tax assets— 53 66 (14)105 

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Table of Contents                                APOLLO GLOBAL MANAGEMENT, INC.EXHIBIT INDEX

ExhibitNumberExhibit Description2.1Agreement and Plan of Merger, dated as of March 8, 2021, by and among Apollo Global Management, Inc., Athene Holding Ltd.,