Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 167

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 167
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,544 Equity securities1,524 1,611 Mortgage loans, at fair value64,536 45,396 Investment funds1,960 1,741 Policy loans318 334 Funds withheld at interest23,916 30,833 Derivative assets8,154 5,298 Short-term investments1,190 1,288 Other investments3,246 1,549 Total Investments, including related parties – Retirement Services291,167 238,941 Total Investments$297,253 $244,443 

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

Equity Method Investments — Overall The tables below present summarized financial information of the Company’s equity method investments in the aggregate.Statement of Financial Condition (In millions)December 31,2024 1 2023 1 Investments$227,112 $212,892 Assets263,535 238,550 Liabilities126,363 122,659 Equity137,172 115,891 Statement of Operations (In millions)Years ended December 31,2024 1 2023 1 2022 1Revenues/Investment Income$10,918 $9,709 $7,681 Expenses13,613 9,242 7,644 Net Investment Income (Loss)(2,695)467 37 Net Realized and Unrealized Gain (Loss)14,722 7,349 3,012 Net Income (Loss)$12,027 $7,816 $3,049 1 Certain fund amounts are as of and for the twelve months ended September 30, 2024, 2023 and 2022.Asset ManagementNet Gains (Losses) from Investment ActivitiesThe following outlines realized and net change in unrealized gains (losses) reported in net gains (losses) from investment activities:Years ended December 31,(In millions)202420232022Realized gains (losses) on sales of investments, net$(1)$(9)$(14)Net change in unrealized gains (losses) due to changes in fair value59 16 179 Net gains (losses) from investment activities$58 $7 $165 Performance AllocationsPerformance allocations receivable is recorded within investments in the consolidated statements of financial condition. The table