Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 308

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 308
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 90 days or more past due and/or in non-accrual status$962 $847 Fair value of residential mortgage loans 90 days or more past due1$962 $847 Fair value of residential mortgage loans in non-accrual status886 765 1 As of March 31, 2025 and December 31, 2024, includes $76 million and $82 million, respectively, of residential mortgage loans that are guaranteed by U.S. government-sponsored agencies.The following is the estimated amount of gains (losses) included in earnings during the period attributable to changes in instrument-specific credit risk on Athene’s mortgage loan portfolio:Three months ended March 31,(In millions)20252024Mortgage loans$(3)$(33)The portion of gains and losses attributable to changes in instrument-specific credit risk is estimated by identifying commercial mortgage loans with loan-to-value ratios meeting credit quality criteria, and residential mortgage loans with delinquency status meeting credit quality criteria.Fair Value of Financial Instruments Not Carried at Fair Value – Retirement ServicesThe following represents Athene’s financial instruments not carried at fair value on the condensed consolidated statements of financial condition: March 31, 2025(In millions)Carrying ValueFair ValueNAVLevel 1Level 2Level 3Financial assetsInvestment funds$104 $104 $104 $— $— $— Policy loans313 313 — — 313 — Funds withheld at interest20,707 20,707 — — — 20,707 Short-term investments181 181 — — — 181 Other investments88 99 — — — 99 Investments in related partiesInvestment funds755 755 755 — — — Funds withheld at interest5,350 5,350 — — — 5,350 Short-term investments784 784 — — 784 — Total financial assets not carried at fair value$28,282 $28,293 $859 $— $1,097 $26,337 Financial liabilitiesInterest sensitive contract liabilities$220,311 $214,258 $— $— $— $214,258 Debt6,301 5,872 — 579 5,293 — Securities to repurchase3,064 3,064 —