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

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


	June 30, 2023
(In millions)	Apollo Global Management, Inc. and Consolidated Subsidiaries		Consolidated Funds and VIEs		Eliminations		Consolidated
Assets
Asset Management
Cash and cash equivalents	$	1,469	$	—	$	—	$	1,469
Restricted cash and cash equivalents	2		268		—		270
Investments	5,644		—		(146)		5,498
Assets of consolidated variable interest entities
Cash and cash equivalents	—		119		—		119
Investments	—		3,009		(36)		2,973
Other assets	—		58		(38)		20
Due from related parties	535		—		(32)		503
Goodwill	264		—		—		264
Other assets	2,429		3		—		2,432
	10,343		3,457		(252)		13,548
Retirement Services
Cash and cash equivalents	10,601		—		—		10,601
Restricted cash and cash equivalents	2,203		—		—		2,203
Investments	187,552		—		—		187,552
Investments in related parties	40,080		—		(12,310)		27,770
Assets of consolidated variable interest entities
Cash and cash equivalents	—		122		—		122
Investments	1,479		16,564		(812)		17,231
Other assets	7		113		(4)		116
Reinsurance recoverable	4,236		—		—		4,236
Deferred acquisition costs, deferred sales inducements and value of business acquired	5,166		—		—		5,166
Goodwill	4,065		—		—		4,065
Other assets	9,405		—		(31)		9,374
	264,794		16,799		(13,157)		268,436
Total Assets	$	275,137	$	20,256	$	(13,409)	$	281,984

							(Continued)


	June 30, 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	$	3,237	$	49	$	—	$	3,286
Due to related parties	929		10		(47)		892
Debt	2,812		—		—		2,812
Liabilities of consolidated variable interest entities

Notes payable	—		976		(708)		268
Other liabilities	(1)		1,498		(4)		1,493
	6,977		2,533		(759)		8,751
Retirement Services
Interest sensitive contract liabilities	184,359		—		—		184,359
Future policy benefits	50,284		—		—		50,284
Market risk benefits	3,195		—		—		3,195
Debt	3,642		—		—		3,642
Payables for collateral on derivatives and securities to repurchase	9,845		—		—		9,845
Other liabilities	3,392		—		—		3,392
Liabilities of consolidated variable interest entities

Other liabilities	119		1,070		—		1,189
	254,836		1,070		—		255,906
Total Liabilities	261,813		3,603		(759)		264,657
Commitments and Contingencies (note 18)
Redeemable non-controlling interests:
Redeemable non-controlling interests	—		280		5		285
Equity

Additional paid in capital	14,542		(88)		14		14,468
Retained earnings (accumulated deficit)	185		12,549		(12,581)		153
Accumulated other comprehensive income (loss)	(6,392)		(25)		25		(6,392)
Total AGM Stockholders’ Equity	8,335		12,436		(12,542)		8,229
Non-controlling interests	4,989		3,937		(113)		8,813
Total Equity	13,324		16,373		(12,655)		17,042
Total Liabilities, Redeemable non-controlling interests and Equity	$	275,137	$	20,256	$	(13,409)	$	281,984

							(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)	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)

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