Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 242

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 242
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. As of December 31, 2024 and December 31, 2023, there were no amounts outstanding under the current or previous AHL liquidity facilities and Athene was in compliance with all financial covenants under the facilities.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Interest ExpenseThe following table presents the interest expense incurred related to the Company’s debt:Years ended December 31,(In millions)202420232022Asset Management$226 $145 $124 Retirement Services1248 123 98 Total Interest Expense$474 $268 $222 Note: Debt issuance costs incurred are amortized into interest expense over the term of the debt arrangement, as applicable.1 Interest expense for Retirement Services is included in policy and other operating expenses on the consolidated statements of operations.Contractual MaturitiesThe table below presents the contractual maturities for the Company’s debt arrangements as of December 31, 2024: (In millions)20252026 - 20272028 - 20292030 and ThereafterTotalAsset ManagementDebt obligations$— $500 $675 $3,150 $4,325 Retirement ServicesDebt obligations— — 1,000 5,175 6,175 Total Obligations as of December 31, 2024$— $500 $1,675 $8,325 $10,500 

15. Equity-Based CompensationUnder the Equity Plan, the Company grants equity-based awards to employees. Equity-based awards granted to employees and non-employees as compensation are measured based on the grant date fair value of the award, which considers the public share price of AGM’s common stock subject to certain discounts, as applicable. The Company grants both service-based and performance-based awards. The estimated total grant date fair value for service-based awards is charged to compensation expense on a straight-line basis over the vesting period, which is generally one to five years from the date of grant. Certain service-based awards are tied to profit sharing arrangements in which a portion of the performance fees distributed to the general partner are required to be used by employees to purchase restricted shares of common stock or is delivered in the form of RSUs, which are granted under the Company’s Equity Plan. Performance-based awards vest subject to continued employment and the Company’s achievement of specified performance goals. In accordance with U.S. GAAP, equity-based compensation