Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 255

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 255
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 withheld at interest – embedded derivative(540)62 — — — (478)— — Other investments340 (1)— — — 339 (1)— Reinsurance recoverable1,729 5 — 46 — 1,780 — — Assets of consolidated VIEsTrading securities2,170 150 — 29 (11)2,338 148 — Mortgage loans2,519 110 — (85)— 2,544 111 — Investment funds289 (18)— (1)— 270 (18)— Other investments91 (4)— 279 — 366 5 — Total Level 3 assets – Retirement Services$109,876 $1,374 $383 $9,797 $(672)$120,758 $1,259 $400 (Continued)

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

Three months ended June 30, 2025Total realized and unrealized gains (losses)(In millions)Beginning balanceIncluded in incomeIncluded in OCINet purchases, issuances, sales and settlementsNet transfers in (out)Ending balanceTotal gains (losses) included in earnings1Total gains (losses) included in OCI1Liabilities – Asset ManagementContingent consideration obligations$55 $7 $— $(1)$— 61 $— $— Total Level 3 liabilities – Asset Management$55 $7 $— $(1)$— $61 $— $— Liabilities – Retirement ServicesInterest sensitive contract liabilitiesEmbedded derivative$(10,747)$(887)$— $(642)$— (12,276)$— $— Universal life benefits(769)14 — — — (755)— — Future policy benefitsAmerUs Closed Block(1,107)10 — — — (1,097)— — ILICO Closed Block and life benefits(556)— — — — (556)— — Other liabilities(230)(65)— — — (295)— — Total Level 3 liabilities – Retirement Services$(13,409)$(928)$— $(642)$—