Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 265

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 265
---
 9 — 9 Mortgage loans6,022 — — (1,654)4,368 — — — Short-term investments1 — — (21)(20)— (1)(1)Other investments156 — — — 156 — — — Investments in related partiesAFS securitiesCorporate— — (1)(2)(3)— — — ABS1,894 — (304)(1,031)559 — — — Trading securities2 — — (63)(61)— — — Mortgage loans87 — — (49)38 — — — Reinsurance recoverable— 91 — (1)90 — — — Assets of consolidated VIEsTrading securities163 — (32)(7)124 — — — Mortgage loans23 — — (43)(20)— — — Total Level 3 assets – Retirement Services$15,455 $91 $(409)$(3,108)$12,029 $303 $(1,093)$(790)Liabilities - Asset ManagementContingent consideration obligations$— $— $— $(85)$(85)$— $— $— Total Level 3 liabilities – Asset Management$— $— $— $(85)$(85)$— $— $— Liabilities – Retirement ServicesInterest sensitive contract liabilities - embedded derivative$— $(760)$— $252 $(508)$— $— $— Other liabilities— — — 3 3 — — — Total Level 3 liabilities – Retirement Services$— $(760)$— $255 $(505)$— $— $— 

52

Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Six months ended June 30, 2025(In millions)PurchasesIssuancesSalesSettlementsNet Purchases, Issuances, Sales and SettlementsTransfers InTransfers OutNet Transfers In (Out)Assets – Asset ManagementInvestments and derivative assets$29 $— $(10)$— $19