Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 274

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 274
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 of the applicable fund agreements. Generally, performance allocations with respect to the equity funds and certain credit funds we manage are payable and are distributed to the fund’s general partner upon realization of an investment if the fund’s cumulative returns are in excess of the preferred return.Retirement ServicesAFS SecuritiesThe following table represents the amortized cost, allowance for credit losses, gross unrealized gains and losses and fair value of Athene’s AFS investments by asset type:March 31, 2025(In millions)Amortized CostAllowance for Credit LossesGross Unrealized GainsGross Unrealized LossesFair ValueAFS securitiesU.S. government and agencies$10,503 $— $60 $(1,088)$9,475 U.S. state, municipal and political subdivisions1,100 — — (226)874 Foreign governments2,103 — 3 (496)1,610 Corporate98,527 (174)593 (10,742)88,204 CLO30,094 — 282 (310)30,066 ABS25,796 (82)228 (485)25,457 CMBS12,482 (60)80 (394)12,108 RMBS9,280 (392)244 (373)8,759 Total AFS securities189,885 (708)1,490 (14,114)176,553 AFS securities – related partiesCorporate2,152 — 18 (23)2,147 CLO6,623 — 17 (51)6,589 ABS11,483 (1)24 (254)11,252 Total AFS securities – related parties20,258 (1)59 (328)19,988 Total AFS securities, including related parties$210,143 $(709)$1,549 $(14,442)$196,541 December 31, 2024(In millions)Amortized CostAllowance for Credit LossesGross Unrealized GainsGross Unrealized LossesFair ValueAFS securitiesU.S. government and agencies$8,413 $— $8 $(1,270)$7,151 U.S. state, municipal and political subdivisions1,167 — — (246)921 Foreign governments2,082 — — (514)