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

17K characters. Original on sec.gov · Markdown

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


	March 31, 2023
(In millions)	Apollo Global Management, Inc. and Consolidated Subsidiaries		Consolidated Funds and VIEs		Eliminations		Consolidated
Assets
Asset Management
Cash and cash equivalents	$	1,255	$	—	$	—	$	1,255
Restricted cash and cash equivalents	2		1,059		—		1,061
Investments	5,734		—		(138)		5,596
Assets of consolidated variable interest entities
Cash and cash equivalents	—		123		—		123
Investments	—		1,812		(49)		1,763
Other assets	—		110		(78)		32
Due from related parties	518		—		(54)		464
Goodwill	264		—		—		264
Other assets	2,407		2		—		2,409
	10,180		3,106		(319)		12,967
Retirement Services
Cash and cash equivalents	13,844		—		—		13,844
Restricted cash and cash equivalents	1,148		—		—		1,148
Investments	176,466		—		—		176,466
Investments in related parties	38,160		—		(11,396)		26,764
Assets of consolidated variable interest entities
Cash and cash equivalents	—		654		—		654
Investments	1,499		14,667		(105)		16,061
Other assets	7		104		—		111
Reinsurance recoverable	4,229		—		—		4,229
Deferred acquisition costs, deferred sales inducements and value of business acquired	4,836		—		—		4,836
Goodwill	4,061		—		—		4,061
Other assets	9,198		—		(15)		9,183
	253,448		15,425		(11,516)		257,357
Total Assets	$	263,628	$	18,531	$	(11,835)	$	270,324

							(Continued)


	March 31, 2023
(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	$	3,119	$	70	$	—	$	3,189
Due to related parties	1,059		8		(87)		980
Debt	2,814		—		—		2,814
Liabilities of consolidated variable interest entities

Notes payable	—		43		—		43
Other liabilities	—		1,254		(2)		1,252
	6,992		1,375		(89)		8,278
Retirement Services
Interest sensitive contract liabilities	181,100		—		—		181,100
Future policy benefits	42,490		—		—		42,490
Market risk benefits	3,203		—		—		3,203
Debt	3,650		—		—		3,650
Payables for collateral on derivatives and securities to repurchase	10,196		—		—		10,196
Other liabilities	2,831		—		—		2,831
Liabilities of consolidated variable interest entities

Other liabilities	122		725		(5)		842
	243,592		725		(5)		244,312
Total Liabilities	250,584		2,100		(94)		252,590
Commitments and Contingencies (note 18)
Redeemable non-controlling interests:
Redeemable non-controlling interests	—		1,037		5		1,042
Equity

Additional paid in capital	14,476		(82)		14		14,408
Retained earnings (accumulated deficit)	(179)		11,795		(11,788)		(172)
Accumulated other comprehensive income (loss)	(6,162)		(28)		28		(6,162)
Total AGM Stockholders’ Equity	8,135		11,685		(11,746)		8,074
Non-controlling interests	4,909		3,709		—		8,618
Total Equity	13,044		15,394		(11,746)		16,692
Total Liabilities, Redeemable non-controlling interests and Equity	$	263,628	$	18,531	$	(11,835)	$	270,324

							(Concluded)


	December 31, 2022
(In millions)	Apollo Global Management, Inc. and Consolidated Subsidiaries		Consolidated Funds and VIEs		Eliminations		Consolidated
Assets
Asset Management
Cash and cash equivalents	$	1,201	$	—	$	—	$	1,201
Restricted cash and cash equivalents	2		1,046		—		1,048
Investments	5,713		—		(131)		5,582
Assets of consolidated variable interest entities
Cash and cash equivalents	—		110		—		110
Investments	—		2,371		(2)		2,369
Other assets	—		88		(58)		30
Due from related parties	504		1		(40)		465
Goodwill	264		—		—		264
Other assets	2,321		12		—		2,333
	10,005		3,628		(231)		13,402
Retirement Services
Cash and cash equivalents	7,779		—		—		7,779
Restricted cash and cash equivalents	628		—		—		628
Investments	172,488		—		—		172,488
Investments in related parties	35,286		—		(11,326)		23,960
Assets of consolidated variable interest entities
Cash and cash equivalents	—		362		—		362
Investments	1,492		14,207		—		15,699
Other assets	8		104		—		112
Reinsurance recoverable	4,358		—		—		4,358
Deferred acquisition costs, deferred sales inducements and value of business acquired	4,466		—		—		4,466
Goodwill	4,058		—		—		4,058
Other assets	9,919		—		(14)		9,905
	240,482		14,673		(11,340)		243,815
Total Assets	$	250,487	$	18,301	$	(11,571)	$	257,217

							(Continued)


	December 31, 2022
(In millions, except share data)	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	$	2,915	$	61	$	(1)	$	2,975
Due to related parties	1,056		8		(66)		998
Debt	2,814		—		—		2,814
Liabilities of consolidated variable interest entities

Notes payable	—		50		—		50
Other liabilities	—		1,899		—		1,899
	6,785		2,018		(67)		8,736
Retirement Services
Interest sensitive contract liabilities	173,616		—		—		173,616
Future policy benefits	42,110		—		—		42,110
Market risk benefits	2,970		—		—		2,970
Debt	3,658		—		—		3,658
Payables for collateral on derivatives and securities to repurchase	6,707		—		—		6,707
Other liabilities	3,213		—		—		3,213
Liabilities of consolidated variable interest entities


Other liabilities	124		691		(6)		809
	232,398		691		(6)		233,083
Total Liabilities	239,183		2,709		(73)		241,819
Commitments and Contingencies (note 18)
Redeemable non-controlling interests:
Redeemable non-controlling interests	—		1,027		5		1,032
Equity


Additional paid in capital	15,040		(72)		14		14,982
Retained earnings (accumulated deficit)	(1,002)		11,734		(11,739)		(1,007)
Accumulated other comprehensive income (loss)	(7,337)		(34)		36		(7,335)
Total AGM Stockholders’ Equity	6,701		11,628		(11,689)		6,640
Non-controlling interests	4,603		2,937		186		7,726
Total Equity	11,304		14,565		(11,503)		14,366
Total Liabilities, Redeemable non-controlling interests and Equity	$	250,487	$	18,301	$	(11,571)	$	257,217

							(Concluded)

Previous: Item 1. FINANCIAL STATEMENTS · Next: Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS