Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
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Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1A
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Table of Contents

ITEM 1A. UNAUDITED SUPPLEMENTAL PRESENTATION OF STATEMENTS OF FINANCIAL CONDITION

June 30, 2025(In millions)Apollo Global Management, Inc. and Consolidated SubsidiariesConsolidated Funds and VIEsEliminationsConsolidatedAssetsAsset ManagementCash and cash equivalents$2,382 $— $— $2,382 Restricted cash and cash equivalents3 — — 3 Investments6,381 — (496)5,885 Assets of consolidated variable interest entitiesCash and cash equivalents— 346 — 346 Investments— 2,367 (109)2,258 Other assets— 341 (246)95 Due from related parties850 — (87)763 Goodwill264 — — 264 Other assets3,064 — — 3,064 12,944 3,054 (938)15,060 Retirement ServicesCash and cash equivalents10,329 — — 10,329 Restricted cash and cash equivalents1,720 — — 1,720 Investments299,393 — (282)299,111 Investments in related parties47,118 — (16,630)30,488 Assets of consolidated variable interest entitiesCash and cash equivalents19 172 — 191 Investments1,680 24,681 (173)26,188 Other assets8 333 — 341 Reinsurance recoverable9,273 — — 9,273 Deferred acquisition costs, deferred sales inducements and value of business acquired7,981 — — 7,981 Goodwill4,075 — — 4,075 Other assets14,889 — (96)14,793 396,485 25,186 (17,181)404,490 Total Assets$409,429 $28,240 $(18,119)$419,550 (Continued)

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Table of Contents

June 30, 2025(In millions)Apollo Global Management, Inc. and Consolidated SubsidiariesConsolidated Funds and VIEsEliminationsConsolidatedLiabilities, Redeemable non-controlling interests and EquityLiabilitiesAsset ManagementAccounts payable, accrued expenses, and other liabilities$4,079 $