Company: APO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001858681-25-000139
Chunk: 97

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 97
---
Index to Condensed Consolidated Financial Statements (unaudited)

Condensed Consolidated Statements of Financial Condition (unaudited)12Condensed Consolidated Statements of Operations (unaudited)14Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited)15Condensed Consolidated Statements of Equity (unaudited)16Condensed Consolidated Statements of Cash Flows (unaudited)18Notes to Condensed Consolidated Financial Statements (unaudited)21Note 1. Organization21Note 2. Summary of Significant Accounting Policies21Note 3. Business Combination24Note 4. Investments26Note 5. Derivatives36Note 6. Variable Interest Entities40Note 7. Fair Value44Note 8. Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired68Note 9. Long-duration Contracts69Note 10. Profit Sharing Payable78Note 11. Income Taxes78Note 12. Debt79Note 13. Equity-Based Compensation82Note 14. Equity83Note 15. Earnings per Share89Note 16. Related Parties90Note 17. Commitments and Contingencies94Note 18. Segments98Note 19. Subsequent Events102

Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)

(In millions, except share data)As of September 30, 2025As of December 31, 2024AssetsAsset ManagementCash and cash equivalents$2,768 $2,692 Restricted cash and cash equivalents19 3 Investments6,288 6,086 Assets of consolidated variable interest entitiesCash and cash equivalents448 158 Investments4,646 2,806 Due from related parties21 — Other assets114 84 Due from related parties871 584 Goodwill1,828 264 Other assets3,466 2,579 20,469 15,256 Retirement ServicesCash and cash equivalents14,183 12,733 Restricted cash and cash equivalents2,767 943 Investments312,358 262,283 Investments in related parties33,640 28,884 Assets of consolidated variable interest entitiesCash and cash equivalents1,016 583 Investments26,886 23,424 Other assets293 565