Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 252

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 252
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/AN/A22Option modelVolatility rate90.0% – 270.0%122.1%1Bonds82Adjusted transaction valueN/AN/AN/ARetirement ServicesAFS, trading and equity securities28,765 Discounted cash flowDiscount rate2.5% – 22.4%6.7%1Mortgage loans281,108 Discounted cash flowDiscount rate0.1% – 49.6%6.4%1Investment funds21,294 Discounted cash flowDiscount rate13.0% – 14.0%13.1%1281 RecoverabilityEstimated proceedsN/AN/AFinancial Liabilities Asset ManagementContingent consideration obligations61 Discounted cash flowDiscount rate20.0% – 24.0%23.1%1Retirement ServicesInterest sensitive contract liabilities – fixed indexed annuities embedded derivatives12,276 Discounted cash flowNonperformance risk0.3% – 1.1%0.7%3Option budget0.5% – 6.0%3.0%4Surrender rate5.7% – 13.5%8.8%41 Unobservable inputs were weighted based on the fair value of the investments included in the range.2 Includes those of consolidated VIEs.3 The nonperformance risk weighted average is based on the projected cash flows attributable to the embedded derivative.4 The option budget and surrender rate weighted averages are calculated based on projected account values.

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

 December 31, 2024Fair Value (In millions)Valuation TechniquesUnobservable InputsRangesWeighted AverageFinancial AssetsAsset ManagementInvestments$765 Discounted cash flowDiscount rate13.5% – 52.8%17.8%1128 Direct capitalizationCapitalization rate6.7%6.7%159 Adjusted transaction valueN/AN/AN/ADue from related parties27 Discounted cash flowDiscount rate14.0%14.0%Derivative assets29 Option modelVolatility rate52.5%52.5%Investments of consolidated VIEsBank loans168 Discounted cash flowDiscount rate5.6% – 23.4%9.0%1179 Adjusted transaction valueN/AN/AN/AEqu