Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 264

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 264
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 Management, Inc. Stockholders’ Equity17,976 17,253 Non-controlling interests14,368 13,711 Total Equity32,344 30,964 Total Liabilities, Redeemable non-controlling interests and Equity$395,045 $377,895 (Concluded)See accompanying notes to the unaudited condensed consolidated financial statements.

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

Three months ended March 31,(In millions, except per share data)20252024RevenuesAsset ManagementManagement fees$508 $438 Advisory and transaction fees, net195 169 Investment income (loss)303 402 Incentive fees40 26 1,046 1,035 Retirement ServicesPremiums127 101 Product charges265 238 Net investment income4,341 3,576 Investment related gains (losses)(828)1,677 Revenues of consolidated variable interest entities592 411 Other revenues5 2 4,502 6,005 Total Revenues5,548 7,040 ExpensesAsset ManagementCompensation and benefits745 667 Interest expense60 51 General, administrative and other308 240 1,113 958 Retirement ServicesInterest sensitive contract benefits1,494 2,884 Future policy and other policy benefits541 543 Market risk benefits remeasurement (gains) losses385 (154)Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired267 207 Policy and other operating expenses542 453 3,229 3,933 Total Expenses4,342 4,891 Other income (loss) – Asset ManagementNet gains (losses) from investment activities(18)39 Net gains (losses) from investment activities of consolidated variable interest entities211 25 Other income (loss), net(218)(26)Total Other income (loss)(25)38 Income (loss) before income tax (provision) benefit1,181 2,187 Income tax (provision) benefit(243)(422)Net income (loss)938 1,765 Net (income) loss attributable to non-controlling interests(496)(338)Net income (loss) attributable to Apollo Global Management, Inc.442 1,427