Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 92

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 92
---
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)18Notes to Condensed Consolidated Financial Statements (unaudited)20Note 1. Organization20Note 2. Summary of Significant Accounting Policies20Note 3. Investments22Note 4. Derivatives32Note 5. Variable Interest Entities36Note 6. Fair Value39Note 7. Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired63Note 8. Long-duration Contracts63Note 9. Profit Sharing Payable71Note 10. Income Taxes72Note 11. Debt73Note 12. Equity-Based Compensation75Note 13. Equity77Note 14. Earnings per Share82Note 15. Related Parties83Note 16. Commitments and Contingencies87Note 17. Segments91Note 18. Subsequent Events95

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

(In millions, except share data)As of June 30, 2025As of December 31, 2024AssetsAsset ManagementCash and cash equivalents$2,382 $2,692 Restricted cash and cash equivalents3 3 Investments5,885 6,086 Assets of consolidated variable interest entitiesCash and cash equivalents346 158 Investments2,258 2,806 Other assets95 84 Due from related parties763 584 Goodwill264 264 Other assets3,064 2,579 15,060 15,256 Retirement ServicesCash and cash equivalents10,329 12,733 Restricted cash and cash equivalents1,720 943 Investments299,111 262,283 Investments in related parties30,488 28,884 Assets of consolidated variable interest entitiesCash and cash equivalents191 583 Investments26,188 23,424 Other assets341 565 Reinsurance recoverable9,273 8,194 Deferred acquisition costs, deferred sales