Apollo Global Management Inc

For the period ended Mar 31, 2025. Filed May 7, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 7, 2025

APO$122.74+0.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Statements of Financial Condition (unaudited)

(In millions, except share data)	As of March 31, 2025	As of December 31, 2024
Assets
Asset Management
Cash and cash equivalents	$1,871	$2,692
Restricted cash and cash equivalents	3	3
Investments	6,591	6,086
Assets of consolidated variable interest entities
Cash and cash equivalents	231	158
Investments	1,873	2,806
Other assets	264	84
Due from related parties	634	584
Goodwill	264	264
Other assets	2,677	2,579
	14,408	15,256
Retirement Services
Cash and cash equivalents	11,023	12,733
Restricted cash and cash equivalents	2,210	943
Investments	278,323	262,283
Investments in related parties	29,834	28,884
Assets of consolidated variable interest entities
Cash and cash equivalents	175	583
Investments	24,653	23,424
Other assets	362	565
Reinsurance recoverable	8,790	8,194
Deferred acquisition costs, deferred sales inducements and value of business acquired	7,606	7,173
Goodwill	4,067	4,063
Other assets	13,594	13,794
	380,637	362,639
Total Assets	$395,045	$377,895
(Continued)
See accompanying notes to the unaudited condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)

(In millions, except share data)	As of March 31, 2025	As of December 31, 2024
Liabilities, Redeemable non-controlling interests and Equity
Liabilities
Asset Management
Accounts payable, accrued expenses, and other liabilities	$3,773	$3,616
Due to related parties	708	710
Debt	4,280	4,279
Liabilities of consolidated variable interest entities
Other liabilities	785	1,363
	9,546	9,968
Retirement Services
Interest sensitive contract liabilities	273,439	253,637
Future policy benefits	49,897	49,902
Market risk benefits	4,362	4,028
Debt	6,301	6,309
Payables for collateral on derivatives and securities to repurchase	7,253	11,652
Other liabilities	10,355	9,784
Liabilities of consolidated variable interest entities
Other liabilities	1,548	1,635
	353,155	336,947
Total Liabilities	362,701	346,915
Commitments and Contingencies (note 16)
Redeemable non-controlling interests
Redeemable non-controlling interests	—	16
Equity
Mandatory Convertible Preferred Stock, 28,749,765 and 28,749,765 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively	1,398	1,398
Common Stock, $0.00001 par value, 90,000,000,000 shares authorized, 570,432,275 and 565,738,933 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively	—	—
Additional paid in capital	15,527	15,327
Retained earnings (accumulated deficit)	5,634	6,022
Accumulated other comprehensive income (loss)	(4,583)	(5,494)
Total Apollo Global Management, Inc. Stockholders’ Equity	17,976	17,253
Non-controlling interests	14,368	13,711
Total Equity	32,344	30,964
Total Liabilities, Redeemable non-controlling interests and Equity	$395,045	$377,895
(Concluded)
See accompanying notes to the unaudited condensed consolidated financial statements.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.