Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 172

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 172
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$(14,368)The following summarizes the number of AFS securities that were in an unrealized loss position, including related parties, for which an allowance for credit losses has not been recorded:December 31, 2024Unrealized Loss PositionUnrealized Loss Position 12 Months or MoreAFS securities7,745 6,087 AFS securities – related parties143 59 The unrealized losses on AFS securities can primarily be attributed to changes in market interest rates since acquisition. Athene did not recognize the unrealized losses in income, unless as required for hedge accounting, as it intends to hold these securities and it is not more likely than not it will be required to sell a security before the recovery of its amortized cost. 

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

Allowance for Credit LossesThe following table summarizes the activity in the allowance for credit losses for AFS securities by asset type:Year ended December 31, 2024AdditionsReductions(In millions)Beginning balanceInitial credit lossesInitial credit losses on PCD securitiesSecurities sold during the periodSecurities intended to be sold prior to recovery of amortized cost basis Additions (reductions) to previously impaired securitiesEnding balanceAFS securitiesCorporate$129 $48 $— $(8)$— $6 $175 CLO2 1 — — — (3)— ABS49 25 — (16)— 18 76 CMBS29 27 — — — 4 60 RMBS381 17 — (17)— 16 397 Total AFS securities590 118 — (41)— 41 708 AFS securities – related parties, ABS1 — — — — — 1 Total AFS securities, including related parties$591 $118 $— $(41)$— $41 $709 Year ended December 31, 2023AdditionsReductions(In millions)Beginning balanceInitial credit lossesInitial credit losses on PCD securitiesSecurities sold during the periodSecurities intended to be sold prior to recovery of amortized cost basisAdditions (reductions) to previously impaired securitiesEnding balanceAFS securitiesForeign governments$27 $— $— $(27)$— $— $— Corporate61 88