Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 99

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 99
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.0%Derivative assets10Option modelVolatility rate40.0%40.0%Investments of consolidated VIEsBank loans78 Discounted cash flowDiscount rate8.8% – 9.9%9.5%1164 Adjusted transaction valueN/AN/AN/AEquity securities396Discounted cash flowDiscount rate13.4% 13.4%803Adjusted transaction valueN/AN/AN/A17Option modelVolatility rate80.0% – 115.0%104.9%1Bonds60Adjusted transaction valueN/AN/AN/ARetirement ServicesAFS, trading and equity securities26,941 Discounted cash flowDiscount rate4.5% – 22.7%6.9%1Mortgage loans274,731 Discounted cash flowDiscount rate1.4% – 48.8%6.5%1Investment funds21,181 Discounted cash flowDiscount rate10.0%-14.0%13.1%1294 RecoverabilityEstimated proceedsN/AN/AFinancial Liabilities Asset ManagementContingent consideration obligations55 Discounted cash flowDiscount rate20.0% – 25.0%23.7%1Retirement ServicesInterest sensitive contract liabilities – fixed indexed annuities embedded derivatives10,747 Discounted cash flowNonperformance risk0.5% – 1.3%0.8%3Option budget0.5% – 6.0%2.8%4Surrender rate5.7% – 13.7%8.8%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)

 December 31, 2024Fair Value (In millions)Valuation TechniquesUnobservable InputsRangesWeighted AverageFinancial AssetsAsset ManagementInvestments$765 Discounted cash flowDiscount rate13.5% – 52.8%17.8%1128 Direct capitalizationCapitalization rate6.7%6.7%159 Adjusted transaction valueN/