Company: APO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001858681-25-000139
Chunk: 274

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 274
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.7%3Option budget0.5% – 6.0%2.8%4Surrender rate6.0% – 14.2%9.0%41 Unobservable inputs were weighted based on the fair value of the investments included in the range.2 Includes those of consolidated VIEs.3 The nonperformance risk weighted average is based on the projected cash flows attributable to the embedded derivative.4 The option budget and surrender rate weighted averages are calculated based on projected account values.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The following are reconciliations for Level 3 assets and liabilities measured at fair value on a recurring basis: Three months ended September 30, 2025Total realized and unrealized gains (losses)(In millions)Beginning balanceIncluded in incomeIncluded in OCINet purchases, issuances, sales and settlementsNet transfers in (out)Ending balanceTotal gains (losses) included in earnings1Total gains (losses) included in OCI1Assets – Asset ManagementInvestments and derivative assets$1,149 $10 $— $51 $— $1,210 $20 $— Investments of Consolidated VIEs1,887 25 — 1,925 (134)3,703 (5)— Total Level 3 assets – Asset Management$3,036 $35 $— $1,976 $(134)$4,913 $15 $— Assets – Retirement ServicesAFS securitiesForeign governments$23 $— $— $— $— $23 $— $— Corporate7,392 (29)7 321 (1,208)6,483 (5)29 ABS14,144 (8)52 3,346 (547)16,987 2 37 RMBS498 4 1 (14)— 489 — 1 Trading securities18 (5)— (1)— 12 (5)— Equity securities8 (1)— — — 7 — — Mortgage loans77,289 166 — 4,436 — 81,891 173 — Funds withheld at interest – embedded derivative(2,743)270