Company: APO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001858681-25-000139
Chunk: 429

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 429
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 years are not applicable. The returns presented are for their respective Class I shares and are net returns based on NAV. 7 Other includes, among others, AUM of $1.9 billion related to a publicly traded business development company from which Apollo earns investment-related service fees, but for which Apollo does not provide management or advisory services, as of June 30, 2025. Returns and IPO year are not provided for this AUM. Other also includes AUM of $10.3 billion related to third-party capital within AAA.

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Summary of Non-U.S. GAAP Measures

The table below sets forth a reconciliation of net income attributable to Apollo Global Management, Inc. common stockholders to Segment Income and Adjusted Net Income:

Three months ended September 30,Nine months ended September 30,(In millions)2025202420252024GAAP Net Income (Loss) Attributable to Apollo Global Management, Inc.$1,712 $787 $2,735 $3,018 Preferred dividends24 24 73 73 Net income (loss) attributable to non-controlling interests725 958 1,433 1,620 GAAP Net Income (Loss)$2,461 $1,769 $4,241 $4,711 Income tax provision (benefit)438 317 684 1,000 GAAP Income (Loss) Before Income Tax Provision (Benefit)$2,899 $2,086 $4,925 $5,711 Asset Management Adjustments:Equity-based profit sharing expense13541103180Equity-based compensation11272313230Net (income) loss attributable to non-controlling interests in consolidated entities(783)(975)(1,598)$(1,675)Unrealized performance fees(207)141 (298)(213)Unrealized profit sharing expense36 (65)98 129HoldCo interest and other financing costs233 21 103 $51 Unrealized principal investment (income) loss4 (4)(5)(14)Unrealized net (gains) losses from investment activities(54)(13)300 (9)Transaction-related costs, restructuring and other non-operating expenses386 60 432 178 Retirement Services Adjustments:Investment (gains) losses, net of offsets(463)(628)(105)(482)Non-operating change in insurance liabilities and related derivatives4(174)