Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 129

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 129
---
 Indianapolis Life Insurance Company (“ILICO”) Closed Block and life benefits— — 556 — 556 Market risk benefits5— — 4,489 — 4,489 Derivative liabilities10 4,879 — — 4,889 Other liabilities— — 295 — 295 Total Liabilities – Retirement Services10 4,879 19,468 — 24,357 Total Liabilities$10 $4,909 $19,529 $— $24,448 (Concluded)

40

Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

December 31, 2024(In millions)Level 1Level 2Level 3NAVTotalAssetsAsset ManagementCash and cash equivalents$2,692 $— $— $— $2,692 Restricted cash and cash equivalents3 — — — 3 Cash and cash equivalents of VIEs158 — — — 158 Investments, at fair value238 22 1,052 172 1,384 Investments of consolidated VIEs191 111 2,258 234 2,794 Due from related parties2— — 27 — 27 Derivative assets3— 40 29 — 69 Total Assets – Asset Management3,282 173 3,366 306 7,127 Retirement ServicesAFS SecuritiesU.S. government and agencies7,149 2 — — 7,151 U.S. state, municipal and political subdivisions— 921 — — 921 Foreign governments658 881 29 — 1,568 Corporate11 79,253 4,321 — 83,585 CLO— 29,182 — — 29,182 ABS— 7,672 16,529 — 24,201 CMBS— 10,741 — — 10,741 RMBS— 7,759 256 — 8,015 Total AFS securities7,818 136,411 21,135 — 165,364 Trading securities22 1,539 22 — 1,583 Equity securities190 1,073