Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 125

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 125
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15 — — 15 — 15 Subsidiary issuance of equity interests— — 66 — — 66 12 78 Net income (loss)— 97 — 4,480 — 4,577 1,796 6,373 Other comprehensive income (loss)— — — — 81 81 (99)(18)Balance at December 31, 2024566 $1,398 $15,327 $6,022 $(5,494)$17,253 $13,711 $30,964 (Concluded)See accompanying notes to the consolidated financial statements.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS

Years ended December 31,(In millions)202420232022Cash Flows from Operating ActivitiesNet Income (Loss)$6,373 $6,509 $(3,507)Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:Equity-based compensation721 1,026 540 Net investment income(1,359)(1,140)(1,306)Net recognized (gains) losses on investments and derivatives(3,526)(2,073)5,735 Depreciation and amortization1,075 803 529 Net amortization (accretion) of net investment premiums, discount and other(123)81 285 Policy acquisition costs deferred(1,507)(1,570)(1,127)Other non-cash amounts included in net income (loss), net92 (415)321 Changes in consolidation248 (54)(482)Changes in operating assets and liabilities:Purchases of investments by Funds and VIEs (5,591)(5,744)(7,139)Proceeds from sale of investments by Funds and VIEs 4,714 5,464 3,995 Interest sensitive contract liabilities5,677 3,917 (1,337)Future policy benefits, market risk benefits and reinsurance recoverable(1,969)4,333 3,901 Other assets and liabilities, net(1,572)(4,815)3,381 Net cash provided by operating activities$3,253 $6,322 $3,789 Cash Flows from Investing ActivitiesPurchases of investments and contributions to equity method