Apollo Global Management Inc
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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FY2024 · Filed Feb 24, 2025
APO$122.74+0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Financial Condition
| (In millions, except share data) | As of December 31, 2024 | As of December 31, 2023 |
|---|---|---|
| Assets | ||
| Asset Management | ||
| Cash and cash equivalents | $2,692 | $2,748 |
| Restricted cash and cash equivalents | 3 | 2 |
| Investments | 6,086 | 5,502 |
| Assets of consolidated variable interest entities | ||
| Cash and cash equivalents | 158 | 62 |
| Investments | 2,806 | 1,640 |
| Other assets | 84 | 177 |
| Due from related parties | 584 | 449 |
| Goodwill | 264 | 264 |
| Other assets | 2,579 | 2,331 |
| 15,256 | 13,175 | |
| Retirement Services | ||
| Cash and cash equivalents | 12,733 | 13,020 |
| Restricted cash and cash equivalents | 943 | 1,761 |
| Investments | 262,283 | 213,099 |
| Investments in related parties | 28,884 | 25,842 |
| Assets of consolidated variable interest entities | ||
| Cash and cash equivalents | 583 | 98 |
| Investments | 23,424 | 20,232 |
| Other assets | 565 | 110 |
| Reinsurance recoverable | 8,194 | 4,154 |
| Deferred acquisition costs, deferred sales inducements and value of business acquired | 7,173 | 5,979 |
| Goodwill | 4,063 | 4,065 |
| Other assets | 13,794 | 11,953 |
| 362,639 | 300,313 | |
| Total Assets | $377,895 | $313,488 |
| (Continued) | ||
| See accompanying notes to the consolidated financial statements. | ||
| (In millions, except share data) | As of December 31, 2024 | As of December 31, 2023 |
|---|---|---|
| Liabilities, Redeemable non-controlling interests and Equity | ||
| Liabilities | ||
| Asset Management | ||
| Accounts payable, accrued expenses, and other liabilities | $3,616 | $3,338 |
| Due to related parties | 710 | 870 |
| Debt | 4,279 | 3,883 |
| Liabilities of consolidated variable interest entities | ||
| Other liabilities | 1,363 | 1,145 |
| 9,968 | 9,236 | |
| Retirement Services | ||
| Interest sensitive contract liabilities | 253,637 | 204,670 |
| Future policy benefits | 49,902 | 53,287 |
| Market risk benefits | 4,028 | 3,751 |
| Debt | 6,309 | 4,209 |
| Payables for collateral on derivatives and securities to repurchase | 11,652 | 7,536 |
| Other liabilities | 9,784 | 4,456 |
| Liabilities of consolidated variable interest entities | ||
| Other liabilities | 1,635 | 1,098 |
| 336,947 | 279,007 | |
| Total Liabilities | 346,915 | 288,243 |
| Commitments and Contingencies (note 19) | ||
| Redeemable non-controlling interests | ||
| Redeemable non-controlling interests | 16 | 12 |
| Equity | ||
| Mandatory Convertible Preferred Stock, 28,749,765 and 28,750,000 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively | 1,398 | 1,398 |
| Common Stock, $0.00001 par value, 90,000,000,000 shares authorized, 565,738,933 and 567,762,932 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively | — | — |
| Additional paid in capital | 15,327 | 15,249 |
| Retained earnings (accumulated deficit) | 6,022 | 2,972 |
| Accumulated other comprehensive income (loss) | (5,494) | (5,575) |
| Total Apollo Global Management, Inc. Stockholders’ Equity | 17,253 | 14,044 |
| Non-controlling interests | 13,711 | 11,189 |
| Total Equity | 30,964 | 25,233 |
| Total Liabilities, Redeemable non-controlling interests and Equity | $377,895 | $313,488 |
| (Concluded) | ||
| See accompanying notes to the consolidated financial statements. | ||
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