Company: APO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001858681-25-000139
Chunk: 98

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 98
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 Reinsurance recoverable9,948 8,194 Deferred acquisition costs, deferred sales inducements and value of business acquired8,370 7,173 Goodwill4,072 4,063 Other assets15,541 13,794 429,074 362,639 Total Assets$449,543 $377,895 (Continued)See accompanying notes to the unaudited condensed consolidated financial statements.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)

(In millions, except share data)As of September 30, 2025As of December 31, 2024Liabilities, Redeemable non-controlling interests and EquityLiabilitiesAsset ManagementAccounts payable, accrued expenses, and other liabilities$4,326 $3,616 Due to related parties1,169 710 Debt4,775 4,279 Liabilities of consolidated variable interest entities    Accounts payable, accrued expenses, and other liabilities3,104 1,363 13,374 9,968 Retirement ServicesInterest sensitive contract liabilities309,737 253,637 Future policy benefits49,006 49,902 Market risk benefits4,835 4,028 Debt7,856 6,309 Payables for collateral on derivatives and securities to repurchase9,066 11,652 Other liabilities14,180 9,784 Liabilities of consolidated variable interest entitiesOther liabilities1,692 1,635 396,372 336,947 Total Liabilities409,746 346,915 Commitments and Contingencies (note 17)Redeemable non-controlling interestsRedeemable non-controlling interests— 16 EquityMandatory Convertible Preferred Stock, 28,749,665 and 28,749,765 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively1,398 1,398 Common Stock, $0.00001 par value, 90,000,000,000 shares authorized, 580,389,090 and 565,738,933 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively— — Additional paid in capital16,925 15,327 Retained earnings (accum