Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 281

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 281
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585)Other operating expenses(60)(56)(56)Principal Investing Income 271 83 284 Segment Income$5,558 $4,959 $4,163 Years ended December 31,(In millions)202420232022Segment RevenueAsset Management1$3,652 $3,164 $2,620 Retirement Services11,849 9,675 6,965 Principal Investing2995 740 925 Total Segment Revenue$16,496 $13,579 $10,510 

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

Segment AssetsDecember 31, 2024December 31, 2023Asset Management$2,286 $1,938 Retirement Services355,683 294,730 Principal Investing10,473 9,573 Total Assets$368,442 $306,241 1 Includes intersegment management fees from Retirement Services of $1,223 million, $955 million and $764 million for the years ended December 31, 2024, 2023 and 2022, respectively.2 Includes intersegment realized performance fees from Retirement Services of $30 million and $20 million for the years ended December 31, 2024 and 2023, respectively.The following presents the reconciliation of Segment Income and Segment Revenue to income (loss) before income tax (provision) benefit and total revenues reported in the consolidated statements of operations:Years ended December 31,(In millions)202420232022Segment Income$5,558 $4,959 $4,163 Asset Management Adjustments:Equity-based profit sharing expense and other1,6(321)(239)(276)Equity-based compensation(308)(236)(185)Special equity-based compensation and other charges— (438)— Transaction-related charges2(180)(32)42 Merger-related transaction and integration costs3(30)(27)(70)Gains (losses) from change in tax receivable agreement liability42 (13)(26)Net income (loss) attributable to non-controlling interests in consolidated entities1,840 1,556 (1,499)Unrealized performance fees6264 127 2 Unrealized profit sharing expense6(145)(179)(20)HoldCo interest and other financing costs4(80)(88)(122)