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, 2024
(In millions)	Apollo Global Management, Inc. and Consolidated Subsidiaries		Consolidated Funds and VIEs		Eliminations		Consolidated
Assets
Asset Management
Cash and cash equivalents	$	2,666	$	—	$	—	$	2,666
Restricted cash and cash equivalents	3		—		—		3
Investments	6,338		—		(478)		5,860
Assets of consolidated variable interest entities
Cash and cash equivalents	—		102		—		102
Investments	—		2,455		(102)		2,353
Other assets	—		255		(131)		124
Due from related parties	677		—		(105)		572
Goodwill	264		—		—		264
Other assets	2,512		—		—		2,512
	12,460		2,812		(816)		14,456
Retirement Services
Cash and cash equivalents	13,587		—		—		13,587
Restricted cash and cash equivalents	964		—		—		964
Investments	258,061		—		(285)		257,776
Investments in related parties	42,922		—		(14,931)		27,991
Assets of consolidated variable interest entities
Cash and cash equivalents	—		305		—		305
Investments	1,377		20,523		(108)		21,792
Other assets	8		184		—		192
Reinsurance recoverable	7,454		—		—		7,454
Deferred acquisition costs, deferred sales inducements and value of business acquired	6,971		—		—		6,971
Goodwill	4,071		—		—		4,071
Other assets	13,188		—		(58)		13,130
	348,603		21,012		(15,382)		354,233
Total Assets	$	361,063	$	23,824	$	(16,198)	$	368,689

							(Continued)


	September 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	$	3,908	$	—	$	—	$	3,908
Due to related parties	839		—		(130)		709
Debt	4,082		—		—		4,082
Liabilities of consolidated variable interest entities
Debt, at fair value	—		136		(136)		—

Other liabilities	—		1,073		(52)		1,021
	8,829		1,209		(318)		9,720
Retirement Services
Interest sensitive contract liabilities	245,436		—		—		245,436
Future policy benefits	52,962		—		—		52,962
Market risk benefits	4,402		—		—		4,402
Debt	5,725		—		—		5,725
Payables for collateral on derivatives and securities to repurchase	7,952		—		—		7,952
Other liabilities	10,097		(500)		—		9,597
Liabilities of consolidated variable interest entities

Other liabilities	33		1,330		(9)		1,354
	326,607		830		(9)		327,428
Total Liabilities	335,436		2,039		(327)		337,148
Commitments and Contingencies (note 16)
Redeemable non-controlling interests:
Redeemable non-controlling interests	—		15		—		15
Equity

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

Additional paid in capital	15,032		36		5		15,073
Retained earnings (accumulated deficit)	4,901		15,937		(15,973)		4,865
Accumulated other comprehensive income (loss)	(3,472)		(16)		15		(3,473)
Total AGM Stockholders’ Equity	17,859		15,957		(15,953)		17,863
Non-controlling interests	7,768		5,813		82		13,663
Total Equity	25,627		21,770		(15,871)		31,526
Total Liabilities, Redeemable non-controlling interests and Equity	$	361,063	$	23,824	$	(16,198)	$	368,689

							(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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