Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 258

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 258
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 — (769)— — Future policy benefitsAmerUs Closed Block(1,151)31 — — — (1,120)— — ILICO Closed Block and life benefits(553)24 — — — (529)— — Derivative liabilities(1)— — — — (1)— — Other liabilities(229)(27)— 3 — (253)— — Total Level 3 liabilities – Retirement Services$(13,630)$229 $— $(505)$— $(13,906)$— $— (Concluded)1 Related to instruments held at end of period.

47

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 OCI1Assets – Asset ManagementInvestments and derivative assets$1,081 $49 $— $19 $— $1,149 $(11)$— Investments of consolidated VIEs2,258 303 — (7)(667)1,887 (29)— Total Level 3 assets – Asset Management$3,339 $352 $— $12 $(667)$3,036 $(40)$— Assets – Retirement ServicesAFS securitiesForeign governments$29 $(1)$— $(5)$— $23 $— $— Corporate4,321 70 78 3,071 (148)7,392 63 72 ABS16,529 5 473 1,845 (4,708)14,144 4 494 CMBS— (23)(4)28 (1)— — — RMBS256 9 1 281 (49)498 — 1 Trading securities22 — — 10 (14)18 (6)— Equity securities27 (1)— (18)— 8 (1)— Mortgage