Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 102

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 102
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19 624 — 10,385 — 13 Trading securities573 — — (136)— 437 — — Equity securities234 10 — — — 244 10 — Mortgage loans1,297 14 — (15)— 1,296 14 — Investment funds1,139 41 — — — 1,180 41 — Funds withheld at interest – embedded derivative(615)75 — — — (540)— — Other investments331 9 — — — 340 9 — Reinsurance recoverable1,661 30 — 38 — 1,729 — — Assets of consolidated VIEsTrading securities1,954 67 — 71 78 2,170 66 — Mortgage loans2,579 27 — (87)— 2,519 30 — Investment funds770 15 — (496)— 289 3 — Other investments103 4 — (16)— 91 2 — Total Level 3 assets – Retirement Services$104,024 $1,496 $205 $8,332 $(4,181)$109,876 $1,197 $149 (Continued)

42

Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Three months ended March 31, 2025Total realized and unrealized gains (losses)(In millions)Beginning BalanceIncluded in IncomeIncluded in OCINet Purchases, Issuances, Sales and SettlementsNet Transfers In (Out)Ending BalanceTotal Gains (Losses) Included in Earnings1Total Gains (Losses) Included in OCI1Liabilities – Asset ManagementContingent consideration obligations$67 $1 $— $(13)$— $55 $— $— Total Level 3 liabilities – Asset Management$67 $1 $— $(13)$— $55 $— $— Liabilities – Retirement ServicesInterest sensitive contract liabilitiesEmbedded derivative$(11,242)$1,003 $— $(508)$— $(10,747)$— $— Universal