Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 73

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 73
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 performance in the funds we manage, which we expect will allow us to grow the Company’s management fees and performance fees and (ii) grow the investment portfolio of retirement services, in each case in amounts sufficient to cover our long-term liquidity requirements, which may include:

•supporting the future growth of our businesses;

•creating new or enhancing existing products and investment platforms;

•making payments to policyholders;

•pursuing new strategic corporate investment opportunities;

•paying interest and principal on the Company’s financing arrangements;

•repurchasing common stock;

•making payments under the tax receivable agreement; and

•paying cash dividends.

Cash Flow Analysis

The section below discusses in more detail the Company’s primary sources and uses of cash and the primary drivers of cash flows within the Company’s condensed consolidated statements of cash flows:

Six months ended June 30,(In millions)20252024Operating Activities$2,274 $1,403 Investing Activities(36,517)(31,085)Financing Activities32,089 29,976 Effect of exchange rate changes on cash and cash equivalents13 (2)Net increase (decrease) in cash and cash equivalents, restricted cash and cash held at consolidated variable interest entities$(2,141)$292 

145

The assets of our consolidated funds and VIEs, on a gross basis, could have a substantial effect on the accompanying statement of cash flows. Because our consolidated funds and VIEs are generally treated as investment companies for accounting purposes, their investing cash flow amounts are included in our cash flows from operating activities. The table below summarizes our condensed consolidated statements of cash flow by activity attributable to the Company and to our consolidated funds and VIEs.

Six months ended June 30,(In millions)20252024Net cash provided by the Company's operating activities$2,441 $1,686 Net cash used in the Consolidated Funds and VIEs operating activities(167)(283)Net cash provided by operating activities2,274 1,403 Net cash used in the Company's investing activities(35,450)(30,205)Net cash used in the Consolidated Funds and VIEs investing activities(1,067)(880)Net cash used in investing activities(36,517)(31,085)Net cash provided by the Company's financing activities31,392 27,943 Net cash provided by the Consolidated Funds and VIEs financing activities697 2,033 Net cash provided by financing