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

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


	September 30, 2023
(In millions)	Apollo Global Management, Inc. and Consolidated Subsidiaries		Consolidated Funds and VIEs		Eliminations		Consolidated
Assets
Asset Management
Cash and cash equivalents	$	2,350	$	—	$	—	$	2,350
Restricted cash and cash equivalents	2		272		—		274
Investments	5,542		—		(159)		5,383
Assets of consolidated variable interest entities
Cash and cash equivalents	—		437		—		437
Investments	—		2,195		(46)		2,149
Other assets	—		36		(10)		26
Due from related parties	531		—		(23)		508
Goodwill	264		—		—		264
Other assets	2,378		1		—		2,379
	11,067		2,941		(238)		13,770
Retirement Services
Cash and cash equivalents	9,996		—		—		9,996
Restricted cash and cash equivalents	1,218		—		—		1,218
Investments	189,058		—		1		189,059
Investments in related parties	38,822		—		(12,928)		25,894
Assets of consolidated variable interest entities
Cash and cash equivalents	—		152		—		152
Investments	1,442		17,917		(101)		19,258
Other assets	7		92		—		99
Reinsurance recoverable	4,058		—		—		4,058
Deferred acquisition costs, deferred sales inducements and value of business acquired	5,448		—		—		5,448
Goodwill	4,060		—		—		4,060
Other assets	10,244		—		(21)		10,223
	264,353		18,161		(13,049)		269,465
Total Assets	$	275,420	$	21,102	$	(13,287)	$	283,235

							(Continued)


	September 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	$	3,600	$	56	$	1	$	3,657
Due to related parties	884		11		(17)		878
Debt	3,392		—		—		3,392
Liabilities of consolidated variable interest entities

Notes payable	—		11		—		11
Other liabilities	—		1,931		—		1,931
	7,876		2,009		(16)		9,869
Retirement Services
Interest sensitive contract liabilities	189,065		—		—		189,065
Future policy benefits	46,672		—		—		46,672
Market risk benefits	3,021		—		—		3,021
Debt	3,634		—		—		3,634
Payables for collateral on derivatives and securities to repurchase	7,652		—		—		7,652
Other liabilities	4,126		—		—		4,126
Liabilities of consolidated variable interest entities

Other liabilities	116		1,139		(21)		1,234
	254,286		1,139		(21)		255,404
Total Liabilities	262,162		3,148		(37)		265,273
Commitments and Contingencies (note 18)
Redeemable non-controlling interests:
Redeemable non-controlling interests	—		282		5		287
Equity

Mandatory Convertible Preferred Stock	1,397		—		—		1,397

Additional paid in capital	14,681		(90)		14		14,605
Retained earnings (accumulated deficit)	562		13,181		(13,208)		535
Accumulated other comprehensive income (loss)	(8,097)		(40)		42		(8,095)
Total AGM Stockholders’ Equity	8,543		13,051		(13,152)		8,442
Non-controlling interests	4,715		4,621		(103)		9,233
Total Equity	13,258		17,672		(13,255)		17,675
Total Liabilities, Redeemable non-controlling interests and Equity	$	275,420	$	21,102	$	(13,287)	$	283,235

							(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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