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, 2024
(In millions)	Apollo Global Management, Inc. and Consolidated Subsidiaries		Consolidated Funds and VIEs		Eliminations		Consolidated
Assets
Asset Management
Cash and cash equivalents	$	2,854	$	—	$	—	$	2,854
Restricted cash and cash equivalents	2		—		—		2
Investments	5,911		—		(214)		5,697
Assets of consolidated variable interest entities
Cash and cash equivalents	—		473		—		473
Investments	—		1,788		(80)		1,708
Other assets	—		385		(78)		307
Due from related parties	512		—		(33)		479
Goodwill	264		—		—		264
Other assets	2,440		—		—		2,440
	11,983		2,646		(405)		14,224
Retirement Services
Cash and cash equivalents	13,004		—		—		13,004
Restricted cash and cash equivalents	1,093		—		—		1,093
Investments	237,318		—		—		237,318
Investments in related parties	41,623		—		(13,897)		27,726
Assets of consolidated variable interest entities
Cash and cash equivalents	—		557		—		557
Investments	1,370		20,827		(104)		22,093
Other assets	25		118		—		143
Reinsurance recoverable	6,188		—		—		6,188
Deferred acquisition costs, deferred sales inducements and value of business acquired	6,699		—		—		6,699
Goodwill	4,064		—		—		4,064
Other assets	13,465		—		(70)		13,395
	324,849		21,502		(14,071)		332,280
Total Assets	$	336,832	$	24,148	$	(14,476)	$	346,504

							(Continued)


	June 30, 2024
(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	$	3,638	$	—	$	—	$	3,638
Due to related parties	829		—		(75)		754
Debt	4,082		—		—		4,082
Liabilities of consolidated variable interest entities


Other liabilities	—		1,728		—		1,728
	8,549		1,728		(75)		10,202
Retirement Services
Interest sensitive contract liabilities	228,389		—		—		228,389
Future policy benefits	50,799		—		—		50,799
Market risk benefits	3,727		—		—		3,727
Debt	5,733		—		—		5,733
Payables for collateral on derivatives and securities to repurchase	9,876		—		—		9,876
Other liabilities	7,847		—		—		7,847
Liabilities of consolidated variable interest entities

Other liabilities	34		1,492		(9)		1,517
	306,405		1,492		(9)		307,888
Total Liabilities	314,954		3,220		(84)		318,090
Commitments and Contingencies (note 16)
Redeemable non-controlling interests:
Redeemable non-controlling interests	—		14		—		14
Equity

Mandatory Convertible Preferred Stock	1,398		—		—		1,398

Additional paid in capital	15,337		(22)		4		15,319
Retained earnings (accumulated deficit)	4,341		14,361		(14,326)		4,376
Accumulated other comprehensive income (loss)	(5,821)		(34)		35		(5,820)
Total AGM Stockholders’ Equity	15,255		14,305		(14,287)		15,273
Non-controlling interests	6,623		6,609		(105)		13,127
Total Equity	21,878		20,914		(14,392)		28,400
Total Liabilities, Redeemable non-controlling interests and Equity	$	336,832	$	24,148	$	(14,476)	$	346,504

							(Concluded)


	December 31, 2023
(In millions)	Apollo Global Management, Inc. and Consolidated Subsidiaries		Consolidated Funds and VIEs		Eliminations		Consolidated
Assets
Asset Management
Cash and cash equivalents	$	2,748	$	—	$	—	$	2,748
Restricted cash and cash equivalents	2		—		—		2
Investments	5,673		—		(171)		5,502
Assets of consolidated variable interest entities
Cash and cash equivalents	—		62		—		62
Investments	—		1,690		(50)		1,640
Other assets	—		204		(27)		177
Due from related parties	464		—		(15)		449
Goodwill	264		—		—		264
Other assets	2,331		—		—		2,331
	11,482		1,956		(263)		13,175
Retirement Services
Cash and cash equivalents	13,020		—		—		13,020
Restricted cash and cash equivalents	1,761		—		—		1,761
Investments	213,099		—		—		213,099
Investments in related parties	39,194		—		(13,352)		25,842
Assets of consolidated variable interest entities
Cash and cash equivalents	—		98		—		98
Investments	1,453		18,886		(107)		20,232
Other assets	9		101		—		110
Reinsurance recoverable	4,154		—		—		4,154
Deferred acquisition costs, deferred sales inducements and value of business acquired	5,979		—		—		5,979
Goodwill	4,065		—		—		4,065
Other assets	11,996		—		(43)		11,953
	294,730		19,085		(13,502)		300,313
Total Assets	$	306,212	$	21,041	$	(13,765)	$	313,488

							(Continued)


	December 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	$	3,333	$	5	$	—	$	3,338
Due to related parties	897		—		(27)		870
Debt	3,883		—		—		3,883
Liabilities of consolidated variable interest entities


Other liabilities	—		1,145		—		1,145
	8,113		1,150		(27)		9,236
Retirement Services
Interest sensitive contract liabilities	204,670		—		—		204,670
Future policy benefits	53,287		—		—		53,287
Market risk benefits	3,751		—		—		3,751
Debt	4,209		—		—		4,209
Payables for collateral on derivatives and securities to repurchase	7,536		—		—		7,536
Other liabilities	4,456		—		—		4,456
Liabilities of consolidated variable interest entities


Other liabilities	38		1,076		(16)		1,098
	277,947		1,076		(16)		279,007
Total Liabilities	286,060		2,226		(43)		288,243
Commitments and Contingencies (note 16)
Redeemable non-controlling interests
Redeemable non-controlling interests	—		12		—		12
Equity


Mandatory Convertible Preferred Stock	1,398		—		—		1,398
Additional paid in capital	15,282		(34)		1		15,249
Retained earnings (accumulated deficit)	2,948		13,693		(13,669)		2,972
Accumulated other comprehensive income (loss)	(5,575)		(19)		19		(5,575)
Total AGM Stockholders’ Equity	14,053		13,640		(13,649)		14,044
Non-controlling interests	6,099		5,163		(73)		11,189
Total Equity	20,152		18,803		(13,722)		25,233
Total Liabilities, Redeemable non-controlling interests and Equity	$	306,212	$	21,041	$	(13,765)	$	313,488

							(Concluded)

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