Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 420

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 420
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 for expected credit losses

•Derivatives valuation, including embedded derivatives

•Future policy benefits

•Market risk benefits

The above critical accounting estimates and judgments are discussed in detail in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Estimates and Policies” of our 2024 Annual Report.

Recent Accounting Pronouncements

A list of recent accounting pronouncements that are relevant to Apollo and its industries is included in note 2 to our condensed consolidated financial statements.

Contractual Obligations, Commitments and Contingencies

Fixed and determinable payments due in connection with the Company’s material contractual obligations are as follows as of June 30, 2025:

(In millions)20252026 - 20272028 - 20292030 and ThereafterTotalAsset ManagementOperating lease obligations1$41 $170 $170 $561 $942 Other long-term obligations226 6 — — 32 AGM credit facility31 2 2 — 5 Debt obligations3117 934 1,071 6,446 8,568 185 1,112 1,243 7,007 9,547 Retirement ServicesInterest sensitive contract liabilities16,500 65,310 86,632 123,796 292,238 Future policy benefits1,569 5,938 5,397 36,496 49,400 Market risk benefits— — — 6,651 6,651 Other policy claims and benefits108 — — — 108 Dividends payable to policyholders4 16 13 56 89 Debt obligations3220 879 1,818 14,575 17,492 Securities to repurchase4872 1,822 492 797 3,983 19,273 73,965 94,352 182,371 369,961 Obligations$19,458 $75,077 $95,595 $189,378 $379,508 1 Operating lease obligations excludes $148 million of other operating expenses associated with operating leases. 2 Includes (i) payments on management service agreements related to certain assets and (ii) payments with respect to certain consulting agreements entered into by the Company. Note that a significant portion of these costs are reimbursable by funds.3 The obligations for debt payments include contractual