Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 271

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 271
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inquency status meeting credit quality criteria.

56

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

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: June 30, 2025(In millions)Carrying ValueFair ValueNAVLevel 1Level 2Level 3Financial assetsInvestment funds$102 $102 $102 $— $— $— Policy loans310 310 — — 310 — Funds withheld at interest19,741 19,741 — — — 19,741 Short-term investments171 171 — — — 171 Other investments225 58 — — — 58 Investments in related partiesInvestment funds765 765 765 — — — Funds withheld at interest5,068 5,068 — — — 5,068 Short-term investments18 18 — — 18 — Total financial assets not carried at fair value$26,400 $26,233 $867 $— $328 $25,038 Financial liabilitiesInterest sensitive contract liabilities$236,927 $232,387 $— $— $— $232,387 Debt7,864 7,507 — 577 6,930 — Securities to repurchase3,537 3,537 — — 3,537 — Funds withheld liability4,503 4,503 — — — 4,503 Total financial liabilities not carried at fair value$252,831 $247,934 $— $577 $10,467 $236,890 December 31, 2024(In millions)Carrying ValueFair ValueNAVLevel 1Level 2Level 3Financial assetsInvestment funds$107 $107 $107 $— $— $— Policy loans318 318 — — 318 — Funds withheld at interest21,901 21,901 — — — 21,901 Short-term investments192 192 — — — 192 Other investments93