Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 203

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 203
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 the fair value option, including related parties and VIEs:Years ended December 31,(In millions)202420232022Trading securities$(156)$66 $(424)Mortgage loans(237)183 (3,213)Investment funds(59)77 114 Future policy benefits76 (14)356 Other28 (113)(37)Total gains (losses)$(348)$199 $(3,204)Gains and losses on trading securities, mortgage loans, and other are recorded in investment related gains (losses) on the consolidated statements of operations. Gains and losses related to investment funds are recorded in net investment income on the consolidated statements of operations. Gains and losses related to investments of consolidated VIEs are recorded in revenues of consolidated VIEs on the consolidated statements of operations. The change in fair value of future policy benefits is recorded to future policy and other policy benefits on the consolidated statements of operations.The following summarizes information for fair value option mortgage loans, including related parties and VIEs:(In millions)December 31, 2024December 31, 2023Unpaid principal balance$69,754 $50,752 Mark to fair value(2,639)(3,183)Fair value$67,115 $47,569 The following represents the commercial mortgage loan portfolio 90 days or more past due and/or in non-accrual status:(In millions)December 31, 2024December 31, 2023Unpaid principal balance of commercial mortgage loans 90 days or more past due and/or in non-accrual status$195 $221 Mark to fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status(102)(74)Fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status$93 $147 Fair value of commercial mortgage loans 90 days or more past due$31 $64 Fair value of commercial mortgage loans in non-accrual status93 147 

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

The following represents the residential mortgage loan portfolio 90 days or more past due and/or in non-accrual status:(In millions)December 31, 2024December 31, 2023Unpaid principal balance of residential mortgage loans