Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 279

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 279
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 months ended March 31,(In millions)20252024AFS securities1Gross realized gains on investment activity$711 $67 Gross realized losses on investment activity(235)(347)Net realized investment gains (losses) on AFS securities476 (280)Net recognized investment gains (losses) on trading securities80 (65)Net recognized investment gains on equity securities15 39 Net recognized investment gains (losses) on mortgage loans1,014 (358)Derivative gains (losses)(1,512)1,431 Provision for credit losses(8)(10)Other gains (losses)(893)920 Investment related gains (losses)$(828)$1,677 1 Includes the effects of recognized gains or losses on AFS securities associated with designated hedges.

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

Proceeds from sales of AFS securities were $8,945 million and $3,718 million for the three months ended March 31, 2025 and 2024, respectively.The following table summarizes the change in unrealized gains (losses) on trading and equity securities held as of the respective period end:Three months ended March 31,(In millions)20252024Trading securities$21 $(20)Equity securities12 38 Repurchase AgreementsThe following table summarizes the remaining contractual maturities of repurchase agreements:(In millions)March 31, 2025December 31, 2024Less than 30 days$— $2,752 30 – 90 days1,095 300 91 days to 1 year— 1,095 Greater than 1 year1,969 1,569 Payables for repurchase agreements$3,064 $5,716 The following table summarizes the securities pledged as collateral for repurchase agreements:March 31, 2025December 31, 2024(In millions)Amortized CostFair ValueAmortized CostFair ValueAFS securitiesU.S. government and agencies$— $— $3,253 $2,693 Foreign governments163 111 159 107 Corporate2,277 1,979 1,877 1,573 CLO587 588 587 588 ABS600 559 596 552