Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 217

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 217
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 The Company conducted interim impairment testing immediately prior to and subsequent to the reorganization and determined there to be no impairment of historical goodwill.Apollo acquired Griffin Capital’s U.S. wealth distribution business and U.S. asset management business in two separate closings on March 1, 2022 and May 3, 2022 and recorded goodwill of $13 million and $134 million, respectively, on each acquisition date. All of the goodwill associated with the Griffin Capital acquisitions is included within the Asset Management segment.

11. Long-duration ContractsInterest sensitive contract liabilities – Interest sensitive contract liabilities primarily include:▪traditional deferred annuities,▪indexed annuities consisting of fixed indexed, index-linked variable annuities, and assumed indexed universal life without significant mortality risk,▪funding agreements, and▪other investment-type contracts comprising of immediate annuities without significant mortality risk (which includes pension group annuities without life contingencies) and assumed endowments without significant mortality risks.The following represents a rollforward of the policyholder account balance by product within interest sensitive contract liabilities. Where explicit policyholder account balances do not exist, the disaggregated rollforward represents the recorded reserve.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Year ended December 31, 2024(In millions, except percentages)Traditional Deferred AnnuitiesIndexed AnnuitiesFunding AgreementsOther Investment-typeTotalBalance at December 31, 2023$64,763 $93,147 $32,350 $7,629 $197,889 Deposits25,459 16,230 29,249 1,088 72,026 Policy charges(2)(709)— — (711)Surrenders and withdrawals(5,389)(12,744)— (84)(18,217)Benefit payments(1,108)(1,580)(8,304)(212)(11,204)Interest credited3,256 3,524 1,707 205 8,692 Foreign exchange(318)(7)(414)(498)(1,237)Other— — 180 (98)82 Balance at December 31, 2024$86,661 $97,861 $54,768 $8,030 $247,320 Weighted average crediting rate4.3 %2.7 %4.