Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 134

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 134
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 – 6.0%2.8%4Surrender rate6.0% – 14.2%9.0%41 Unobservable inputs were weighted based on the fair value of the investments included in the range.2 Includes those of consolidated VIEs.3 The nonperformance risk weighted average is based on the projected cash flows attributable to the embedded derivative.4 The option budget and surrender rate weighted averages are calculated based on projected account values.

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

The following are reconciliations for Level 3 assets and liabilities measured at fair value on a recurring basis: Three months ended June 30, 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 OCI1Assets – Asset ManagementInvestments and derivative assets$1,107 $37 $— $5 $— $1,149 $(5)$— Investments of Consolidated VIEs1,518 84 — 345 (60)1,887 (19)— Total Level 3 assets – Asset Management$2,625 $121 $— $350 $(60)$3,036 $(24)$— Assets – Retirement ServicesAFS securitiesForeign governments$28 $— $— $(5)$— $23 $— $— Corporate5,605 56 51 1,650 30 7,392 51 59 ABS12,572 (17)306 1,926 (643)14,144 3 321 CMBS— 1 (1)— — — — — RMBS306 5 2 234 (49)498 — 1 Trading securities7 — — 11 — 18 (6)— Equity securities26 — — (18)— 8 — — Mortgage loans70,916 772 — 5,601 — 77,289 821 — Funds withheld at interest – embedded derivative(2,847)104 —