Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 118

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 118
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 our fair value and actuarial specialists, we:

–Evaluated the methods, models, and judgements applied by the Company in determining these assumptions, including evaluating the results of experience studies or other data used as a basis for setting those assumptions.

–Evaluated the reasonableness of the Company’s assumptions by comparing those selected by management to those independently developed by our fair value and actuarial specialists, drawing upon standard actuarial and industry practices.

/s/ Deloitte & Touche LLP

New York, NY

February 24, 2025

We have served as the Company's auditor since 2007.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(In millions, except share data)As of December 31, 2024As of December 31, 2023AssetsAsset ManagementCash and cash equivalents$2,692 $2,748 Restricted cash and cash equivalents3 2 Investments6,086 5,502 Assets of consolidated variable interest entitiesCash and cash equivalents158 62 Investments2,806 1,640 Other assets84 177 Due from related parties584 449 Goodwill264 264 Other assets2,579 2,331 15,256 13,175 Retirement ServicesCash and cash equivalents12,733 13,020 Restricted cash and cash equivalents943 1,761 Investments262,283 213,099 Investments in related parties28,884 25,842 Assets of consolidated variable interest entitiesCash and cash equivalents583 98 Investments23,424 20,232 Other assets565 110 Reinsurance recoverable8,194 4,154 Deferred acquisition costs, deferred sales inducements and value of business acquired7,173 5,979 Goodwill4,063 4,065 Other assets13,794 11,953 362,639 300,313 Total Assets$377,895 $313,488 (Continued)See accompanying notes to the consolidated financial statements.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(In millions, except share data)As of December 31, 2024As of December 31, 2023Liabilities, Redeemable non-controlling interests and EquityLiabilitiesAsset ManagementAccounts payable, accrued expenses,