Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 94

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 94
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 Apollo Global Management, Inc. Stockholders’ Equity19,321 17,253 Non-controlling interests14,540 13,711 Total Equity33,861 30,964 Total Liabilities, Redeemable non-controlling interests and Equity$419,550 $377,895 (Concluded)See accompanying notes to the unaudited condensed consolidated financial statements.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

Three months ended June 30,Six months ended June 30,(In millions, except per share data)2025202420252024RevenuesAsset ManagementManagement fees$583 $462 $1,091 $900 Advisory and transaction fees, net277 267 472 436 Investment income (loss)189 278 492 680 Incentive fees58 47 98 73 1,107 1,054 2,153 2,089 Retirement ServicesPremiums107 673 234 774 Product charges274 251 539 489 Net investment income4,776 3,804 9,117 7,380 Investment related gains (losses)(5)(134)(833)1,543 Revenues of consolidated variable interest entities550 366 1,142 777 Other revenues5 4 10 6 5,707 4,964 10,209 10,969 Total Revenues6,814 6,018 12,362 13,058 ExpensesAsset ManagementCompensation and benefits602 604 1,347 1,271 Interest expense60 53 120 104 General, administrative and other370 319 678 559 1,032 976 2,145 1,934 Retirement ServicesInterest sensitive contract benefits3,428 1,824 4,922 4,708 Future policy and other policy benefits527 1,095 1,068 1,638 Market risk benefits remeasurement (gains) losses(111)(16)274 (170)Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired292 227 559 434 Policy and other operating expenses550 478 1,092 931 4,686 3,608 7,915 7