Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 140

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 140
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(615)137 — — — (478)— — Other investments331 8 — — — 339 8 — Reinsurance recoverable1,661 35 — 84 — 1,780 — — Assets of consolidated VIEsTrading securities1,954 217 — 100 67 2,338 214 — Mortgage loans2,579 137 — (172)— 2,544 141 — Investment funds770 (3)— (497)— 270 (15)— Other investments103 — — 263 — 366 7 — Total Level 3 assets – Retirement Services$104,024 $2,870 $588 $18,129 $(4,853)$120,758 $2,377 $597 (Continued)

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

Six months ended June 30, 2025Total realized and unrealized gains (losses)(In millions)Beginning BalanceIncluded in IncomeIncluded in OCINet Purchases, Issuances, Sales and SettlementsNet Transfers In (Out)Ending BalanceTotal Gains (Losses) Included in Earnings1Total Gains (Losses) Included in OCI1Liabilities – Asset ManagementContingent consideration obligations$67 $8 $— $(14)$— $61 $— $— Total Level 3 liabilities – Asset Management$67 $8 $— $(14)$— $61 $— $— Liabilities – Retirement ServicesInterest sensitive contract liabilitiesEmbedded derivative$(11,242)$116 $— $(1,150)$— $(12,276)$— $— Universal life benefits(742)(13)— — — (755)— — Future policy benefitsAmerUs Closed Block(1,102)5 — — — (1,097)— — ILICO Closed Block and life benefits(538)(18)— — — (556)— — Derivative liabilities(1)1 — — — — — — Other liabilities(225)(71)— 1 — (295)—