Item 1A. UNAUDITED SUPPLEMENTAL PRESENTATION OF STATEMENTS OF FINANCIAL CONDITION


	As of September 30, 2022
(In millions)	Apollo Global Management, Inc. and Consolidated Subsidiaries		Consolidated Funds and VIEs		Eliminations		Consolidated
Assets
Asset Management
Cash and cash equivalents	$	1,118	$	1	$	—	$	1,119
Restricted cash and cash equivalents	2		695		—		697
Investments	5,801		348		(295)		5,854
Assets of consolidated variable interest entities
Cash and cash equivalents	—		155		—		155
Investments	—		3,039		(7)		3,032
Other assets	—		84		(36)		48
Due from related parties	486		—		(56)		430
Goodwill	264		—		—		264
Other assets	2,280		11		—		2,291
	9,951		4,333		(394)		13,890
Retirement Services
Cash and cash equivalents	9,823		—		—		9,823
Restricted cash and cash equivalents	1,024		—		—		1,024
Investments	162,088		—		—		162,088
Investments in related parties	34,619		—		(11,485)		23,134
Assets of consolidated variable interest entities
Cash and cash equivalents	—		418		—		418
Investments	1,517		13,523		—		15,040
Other assets	7		87		—		94
Reinsurance recoverable	4,356		—		—		4,356
Deferred acquisition costs, deferred sales inducements and value of business acquired	5,191		—		—		5,191
Goodwill	4,058		—		—		4,058
Other assets	11,507		—		(283)		11,224
	234,190		14,028		(11,768)		236,450
Total Assets	$	244,141	$	18,361	$	(12,162)	$	250,340

							(Continued)


	As of September 30, 2022
(In millions)	Apollo Global Management, Inc. and Consolidated Subsidiaries		Consolidated Funds and VIEs		Eliminations		Consolidated
Liabilities, Redeemable non-controlling interests and Equity
Liabilities
Asset Management
Accounts payable, accrued expenses, and other liabilities	$	2,988	$	45	$	(1)	$	3,032
Due to related parties	1,059		8		(44)		1,023
Debt	2,810		—		—		2,810
Liabilities of consolidated variable interest entities
Debt, at fair value	—		1,883		(174)		1,709
Notes payable	—		50		—		50
Other liabilities	—		661		(1)		660
	6,857		2,647		(220)		9,284
Retirement Services
Interest sensitive contract liabilities	166,894		—		—		166,894
Future policy benefits	54,709		—		—		54,709
Debt	3,271		—		—		3,271
Payables for collateral on derivatives and securities to repurchase	7,015		—		—		7,015
Other liabilities	5,010		—		—		5,010
Liabilities of consolidated variable interest entities

Other liabilities	13		1,272		(14)		1,271
	236,912		1,272		(14)		238,170
Total Liabilities	243,769		3,919		(234)		247,454
Commitments and Contingencies (note 17)
Redeemable non-controlling interests:
Redeemable non-controlling interests	—		1,019		5		1,024
Equity

Additional paid in capital	15,307		(65)		14		15,256
Retained earnings (accumulated deficit)	(2,802)		12,013		(12,048)		(2,837)
Accumulated other comprehensive income (loss)	(13,813)		(36)		91		(13,758)
Total AGM Stockholders’ Equity (Deficit)	(1,308)		11,912		(11,943)		(1,339)
Non-controlling interests	1,680		1,511		10		3,201
Total Equity	372		13,423		(11,933)		1,862
Total Liabilities, Redeemable non-controlling interests and Equity	$	244,141	$	18,361	$	(12,162)	$	250,340

							(Concluded)


	As of December 31, 2021
(In millions)	Apollo Global Management, Inc. and Consolidated Subsidiaries		Consolidated Funds and VIEs		Eliminations		Consolidated
Assets

Cash and cash equivalents	$	915	$	2	$	—	$	917
Restricted cash and cash equivalents	18		690		—		708
Investments	10,474		1,162		(282)		11,354
Assets of consolidated variable interest entities
Cash and cash equivalents	—		463		—		463
Investments	—		15,133		(396)		14,737
Other assets	—		253		(1)		252
Due from related parties	587		(9)		(88)		490
Goodwill	117		—		—		117
Other assets	1,462		3		(1)		1,464















Total Assets	$	13,573	$	17,697	$	(768)	$	30,502




Liabilities, Redeemable non-controlling interests and Equity
Liabilities

Accounts payable, accrued expenses, and other liabilities	$	2,731	$	146	$	(30)	$	2,847
Due to related parties	1,231		10		(19)		1,222
Debt	3,134		—		—		3,134
Liabilities of consolidated variable interest entities
Debt, at fair value	—		8,068		(125)		7,943
Notes payable	—		2,714		(103)		2,611
Other liabilities	$	—	867		(86)		781












Total Liabilities	7,096		11,805		(363)		18,538
Commitments and Contingencies (note 17)
Redeemable non-controlling interests:
Redeemable non-controlling interests	—		1,762		8		1,770
Equity
Series A Preferred Stock	264		—		—		264
Series B Preferred Stock	290		—		—		290
Additional paid in capital	2,166		(98)		28		2,096
Retained earnings	1,165		433		(454)		1,144
Accumulated other comprehensive income (loss)	(5)		(13)		13		(5)
Total AGM Stockholders’ Equity	3,880		322		(413)		3,789
Non-controlling interests	2,597		3,808		—		6,405
Total Equity	6,477		4,130		(413)		10,194
Total Liabilities, Redeemable non-controlling interests and Equity	$	13,573	$	17,697	$	(768)	$	30,502

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