Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 60

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 60
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433)Integration, restructuring and other non-operating expenses239 130 133 Equity-based compensation expense50 88 56 Segment Income5,558 4,959 4,163 HoldCo interest and other financing costs5(80)(88)(122)Taxes and related payables(913)(789)(795)Adjusted Net Income$4,565 $4,082 $3,246 1 Equity-based profit sharing expense and other 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 and other also includes performance grants which are tied to the Company’s receipt of performance fees, within prescribed periods, sufficient to cover the associated equity-based compensation expense. 2 Special equity-based compensation and other charges includes equity-based compensation expense and associated taxes related to the previously announced special fully vested equity grants to certain senior leaders.3 Transaction-related charges include contingent consideration, equity-based compensation charges and the amortization of intangible assets and certain other charges associated with acquisitions, and restructuring charges.4 Merger-related transaction and integration costs includes advisory services, technology integration, equity-based compensation charges and other costs associated with the Mergers.5 Represents interest and other financing costs related to AGM not attributable to any specific segment.6 Includes the change in fair values of derivatives and embedded derivatives, non-operating change in funding agreements, change in fair value of market risk benefits, and non-operating change in liability for future policy benefits.

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The table below sets forth a reconciliation of common stock outstanding to our Adjusted Net Income Shares Outstanding:

December 31, 2024December 31, 2023Total GAAP Common Stock Outstanding565,738,933 567,762,932 Non-GAAP Adjustments:Mandatory Convertible Preferred Stock114,536,019 15,564,983 Vested RSUs21,337,132 22,072,379 Unvested RSUs Eligible for Dividend Equivalents11,455,245 12,603,041 Adjusted Net Income Shares Outstanding613,067,329 618,003,335 1 Reflects the number of shares of underlying common stock assumed to be issuable upon conversion of the Mandatory Convertible Preferred Stock during each period.

The table below sets forth a reconciliation of Athene’s