Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 225

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 225
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 attributable to the Company and to our consolidated funds and VIEs.

Three months ended March 31,(In millions)20252024Net cash provided by the Company's operating activities$944 $638 Net cash provided by (used in) the Consolidated Funds and VIEs operating activities68 (568)Net cash provided by operating activities1,012 70 Net cash used in the Company's investing activities(16,424)(15,863)Net cash used in the Consolidated Funds and VIEs investing activities(464)(522)Net cash used in investing activities(16,888)(16,385)Net cash provided by the Company's financing activities14,450 16,996 Net cash provided by (used in) the Consolidated Funds and VIEs financing activities(176)1,346 Net cash provided by financing activities$14,274 $18,342 

Operating Activities

The Company’s operating activities support its Asset Management, Retirement Services and Principal Investing activities. The primary sources of cash within operating activities include: (a) management fees, (b) advisory and transaction fees, (c) realized performance revenues, (d) realized principal investment income, (e) investment sales from our consolidated funds and VIEs, (f) net investment income and (g) insurance premiums. The primary uses of cash within operating activities include: (a) compensation and non-compensation related expenses, (b) interest and taxes, (c) investment purchases from our consolidated funds and VIEs, (d) benefit payments and (e) other operating expenses.

•During the three months ended March 31, 2025, cash provided by operating activities reflects cash inflows of management fees, advisory and transaction fees, realized performance revenues, realized principal investment income, and net investment income, partially offset by pension group annuity benefit payments and cash paid for interest on funding agreements, policy acquisition costs and other operating expenses. Net cash provided by operating activities includes net cash provided by our consolidated funds and VIEs, which primarily includes net proceeds from the sale of VIEs’ investments, offset by purchases of VIEs’ investments.

•During the three months ended March 31, 2024, cash provided by operating activities reflects cash inflows of management fees, advisory and transaction fees, realized performance revenues, realized principal investment income and net investment income, partially offset by pension group annuity benefit payments and cash paid for policy acquisition and other operating expenses. Net cash