Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 439

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 15
Chunk 439
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— Payment of debt issuance cost(17)(25)— Issuance of Mandatory Convertible Preferred stock, net of issuance costs— 1,398 — Repurchase of common stock(890)(561)(635)Due to subsidiaries, net(52)109 78 Net cash provided by (used in) financing activities$(898)$987 $(1,473)Net Increase (Decrease) in Cash and Cash Equivalents(330)987 — Cash and Cash Equivalents, Beginning of Period987 — — Cash and Cash Equivalents, End of Period$657 $987 $— Supplemental Disclosure of Cash Flow InformationCash paid for taxes$37 $37 $55 Cash paid for interest100 14 — See accompanying notes to condensed financial information of registrant (parent company only)

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.Schedule I—Condensed Financial Information of Registrant (Parent Company Only) - Notes to Financial Statements

1. Basis of PresentationThe accompanying condensed financial statements of Apollo Global Management Inc. (“AGM”) should be read in conjunction with the consolidated financial statements and notes of AGM and its subsidiaries (“consolidated financial statements”).For purposes of these condensed financial statements, AGM’s wholly owned and majority owned subsidiaries are presented under the equity method of accounting. Under this method, the assets and liabilities of subsidiaries are not consolidated. The investments in subsidiaries are recorded on the condensed statements of financial condition. The income from subsidiaries is reported on a net basis as equity earnings of subsidiaries on the condensed statements of operations.2. Intercompany TransactionsUnsecured Revolving Notes Receivable – AGM has unsecured revolving notes receivable from its subsidiaries Apollo Asset Management (“AAM”) and Athene Holding Ltd. (“AHL”). The note from AAM accrues interest at a rate per annum equal to the U.S. short-term federal rate applicable at the time the proceeds are loaned and the balance is due at AGM’s request. The note from AAM had an outstanding net receivable balance of $121 million and $431 million as of December 31, 2024 and 2023, respectively. The note from AHL has a borrowing capacity of $500 million. Interest accrues at a rate per annum, equal to the U.S. mid-term applicable federal rate, and the balance is due on December 13, 2025, or earlier at AGM’s