Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 204

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 204
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 90 days or more past due and/or in non-accrual status$898 $528 Mark to fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status(51)(49)Fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status$847 $479 Fair value of residential mortgage loans 90 days or more past due1$847 $479 Fair value of residential mortgage loans in non-accrual status765 355 1 As of December 31, 2024 and December 31, 2023, includes $82 million and $124 million, respectively, of residential mortgage loans that are guaranteed by U.S. government-sponsored agencies.The following is the estimated amount of gains (losses) included in earnings during the period attributable to changes in instrument-specific credit risk on our mortgage loan portfolio:Years ended December 31,(In millions)202420232022Mortgage loans$(58)$(53)$(41)The portion of gains and losses attributable to changes in instrument-specific credit risk is estimated by identifying commercial mortgage loans with loan-to-value ratios meeting credit quality criteria, and residential mortgage loans with delinquency status meeting credit quality criteria.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 consolidated statements of financial condition: 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 101 — — — 101 Investments in related partiesInvestment funds714 714 714 — — — Funds withheld at interest5,665 5,665 — — — 5,665 Short-term investments743 743 — — 743 — Total financial assets not carried at fair value$29,733 $29,741 $821 $— $1,061 $27,859 Financial liabilitiesInterest sensitive contract liabilities$200