Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 174

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 174
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 joint statement supporting the exclusion of U.S. parented multinational groups from the Pillar Two Income Inclusion Rule (“IIR”) and Undertaxed Profits Rule (“UTPR”), with respect to both domestic and foreign profits. While such an exclusion would likely apply to the Company’s wholly-owned entities, its applicability to ACRA remains uncertain due to ACRA’s partial ownership by the Company. Additionally, it is unclear whether Bermuda will amend its corporate income tax (“CIT”) regime in response to the G7’s statement. The Company continues to monitor these developments closely. The Company’s financial results continue to reflect the impacts of both Pillar Two and the Bermuda CIT on U.S. and non-U.S. income. Any future changes to either regime could affect the Company’s financial statements. On July 4, 2025, President Donald J. Trump signed into law H.R. 1, the One Big Beautiful Bill Act (the “OBBBA”). The OBBBA includes a broad range of tax reform provisions, including extending and modifying certain key provisions from the Tax Cuts and Jobs Act of 2017 and expanding certain incentives from the Inflation Reduction Act of 2022 while accelerating the phase-out of others. Certain provisions are effective starting in 2025, while others are not effective until 2026. The Company is currently evaluating the impact that the OBBBA will have on its consolidated financial statements.

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

11. DebtCompany debt consisted of the following:June 30, 2025December 31, 2024(In millions, except percentages)Maturity DateOutstanding BalanceFair ValueOutstanding BalanceFair ValueAsset Management4.40% 2026 Senior Notes1,2May 27, 2026$499 $499 3$499 $496 34.87% 2029 Senior Notes1,2February 15, 2029675 680 3675 670 32.65% 2030 Senior Notes1,2June 5, 2030497 457 3497 439 36.38% 2033 Senior Notes1,2November 15, 2033493 547 3492 542 35.00% 2048 Senior Notes1,2March 15, 2048297 269 3297 271 35.