Company: APO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001858681-25-000139
Chunk: 107

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 107
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 investments61 3 Retirement ServicesInvestments received from settlements on reinsurance agreements— 48 Investments received from pension group annuity premiums— 521 Non-cash financing activitiesAsset Management and OtherCapital increases related to equity-based compensation 407 393 Issuance of warrants54 — Issuance of restricted shares35 24 Issuance of common stock related to equity transactions— 12 Subsidiary issuance of equity interest— 72 Issuance of common stock to donor-advise fund200 — Retirement ServicesDeposits on investment-type policies and contracts through reinsurance agreements, net assumed (ceded)(1,388)(3,152)Withdrawals on investment-type policies and contracts through reinsurance agreements, net assumed (ceded)4,402 6,092 Distribution of investments to non-controlling interests of consolidated VIEs— 1,107 Supplemental Disclosure of Cash Flow Information of Consolidated VIEsCash Flows from Operating ActivitiesPurchases of investments - Asset Management(4,554)(4,836)Proceeds from sale of investments - Asset Management2,498 4,738 Cash Flows from Investing ActivitiesPurchases of investments - Retirement Services(4,348)(2,346)Proceeds from sale of investments - Retirement Services2,897 334 Cash Flows from Financing ActivitiesIssuance of debt2,611 4,035 Principal repayment of debt (1,729)(3,922)Distributions paid to non-controlling interests(325)(73)Contributions from non-controlling interests1,901 1,646 Other financing activities, net(88)— Changes in ConsolidationInvestments, at fair value(549)148 Other assets(14)19 Debt, at fair value— (223)Notes payable— 20 Other liabilities88 (169)Non-controlling interest442 41 Equity56 (84)(Continued)

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

Nine months ended September 30,(In millions)20252024Reconciliation of cash and cash equivalents, restricted cash and cash equivalents, and cash and cash equivalents held at consolidated variable interest entities to the condensed consolidated Statements of Financial Condition:Cash and cash equivalents$16,951 $16,253 Restricted cash and