Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 165

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 165
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 purposes. Goodwill on the consolidated statements of financial position includes the impacts of foreign currency translation.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The financial statements were not retrospectively adjusted for the changes to the provisional values of assets acquired and liabilities assumed that occurred in subsequent periods. Adjustments were recognized as information related to the preliminary fair value calculation was obtained. The effect on earnings of changes in depreciation, amortization, or other income effects, as a result of changes to the provisional amounts, were recorded in the same period as the financial statements, calculated as if the accounting had been completed at the Merger Date.The following table summarizes the fair value amounts recognized for the assets acquired and liabilities assumed and resulting goodwill as of the Merger Date:(In millions)Fair Value and Goodwill CalculationMerger consideration$13,050 Fair value of previously held equity interest4,554 Total Athene Value to be Held by the Company17,604 Total Value to AllocateInvestments176,015 Cash and cash equivalents9,479 Restricted cash and cash equivalents796 Investment in related parties33,863 Reinsurance recoverable4,977 VOBA3,372 Assets of consolidated variable interest entities3,635 Other assets6,115 Estimated fair value of total assets acquired (excluding goodwill)238,252 Interest sensitive contract liabilities 160,241 Future policy benefits41,482 Market risk benefits4,813 Debt3,295 Payables for collateral on derivatives and securities to repurchase7,044 Liabilities of consolidated variable interest entities461 Other liabilities2,443 Estimated fair value of total liabilities assumed219,779 Non-controlling interest4,942 Estimated fair value of net assets acquired, excluding goodwill13,531 Goodwill attributable to Athene$4,073 The Company finalized purchase accounting during the fourth quarter of 2022. During the year ended December 31, 2022, the Company recorded adjustments which decreased provisional goodwill by $108 million. The adjustments were comprised of $25 million for measurement period adjustments and $83 million to adjust the valuation of an investment. The measurement period adjustments were primarily related to decreases in interest sensitive contract liabilities and future policy benefits and the effects to the consolidated statements of operations were immaterial to those periods.The Company performed a valuation of the acquired investments, policy liabilities, VOBA, other identifiable intangibles, and funds withheld at