Company: APO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001858681-25-000139
Chunk: 356

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 356
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 1,000 — 1,016 Investments1,630 25,434 (178)26,886 Other assets7 286 — 293 Reinsurance recoverable9,948 — — 9,948 Deferred acquisition costs, deferred sales inducements and value of business acquired8,370 — — 8,370 Goodwill4,072 — — 4,072 Other assets16,069 — (528)15,541 420,289 26,720 (17,935)429,074 Total Assets$436,637 $31,691 $(18,785)$449,543 (Continued)

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Table of Contents

September 30, 2025(In millions)Apollo Global Management, Inc. and Consolidated Subsidiaries1Consolidated Funds and VIEsEliminationsConsolidatedLiabilities, Redeemable non-controlling interests and EquityLiabilitiesAsset ManagementAccounts payable, accrued expenses, and other liabilities$4,326 $— $— $4,326 Due to related parties1,293 — (124)1,169 Debt4,775 — — 4,775 Liabilities of consolidated variable interest entitiesDebt, at fair value— 176 (176)— Accounts payable, accrued expenses, and other liabilities147 3,047 (90)3,104 10,541 3,223 (390)13,374 Retirement ServicesInterest sensitive contract liabilities309,737 — — 309,737 Future policy benefits49,006 — — 49,006 Market risk benefits4,835 — — 4,835 Debt7,856 — — 7,856 Payables for collateral on derivatives and securities to repurchase9,066 — — 9,066 Other liabilities14,180 — — 14,180 Liabilities of consolidated variable interest entitiesOther liabilities31 1,669 (8)1,692 394,711 1,669 (8)396,372 Total Liabilities405,252 4,892 (398)409,746 Commitments and Contingencies (note 17)EquityMandatory Convertible Preferred Stock1,398 — — 1,398 Additional paid