For the year ending 2025-12-31, APO has $460,949M in assets. $418,434M in debts.
| Balance Sheets | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents-Asset Management Segment | - | - | - | 1,201 |
| Cash and cash equivalents-Asset Management Segment-Consolidated Entity Excluding Variable Interest Entities VIE | 3,350 | 2,692 | 2,748 | - |
| Restricted cash and cash equivalents-Asset Management Segment | 19 | 3 | 2 | 1,048 |
| Investments-Asset Management Segment | - | - | - | 5,582 |
| Investments-Asset Management Segment-Consolidated Entity Excluding Variable Interest Entities VIE-Nonrelated Party | 6,226 | 6,086 | 5,502 | - |
| Cash and cash equivalents-Asset Management Segment-Variable Interest Entity Primary Beneficiary | 327 | 158 | 62 | 110 |
| Investments-Asset Management Segment-Nonrelated Party-Variable Interest Entity Primary Beneficiary | 3,509 | 2,806 | 1,640 | - |
| Investments-Asset Management Segment-Variable Interest Entity Primary Beneficiary | - | - | - | 2,369 |
| Due from related parties-Asset Management Segment-Variable Interest Entity Primary Beneficiary | 16 | - | - | - |
| Other assets-Asset Management Segment-Variable Interest Entity Primary Beneficiary | 230 | 84 | 177 | 30 |
| Due from related parties-Asset Management Segment | - | 584 | 449 | 465 |
| Due from related parties-Asset Management Segment-Consolidated Entity Excluding Variable Interest Entities VIE | 647 | - | - | - |
| Goodwill-Asset Management Segment | 1,848 | 264 | 264 | 264 |
| Other assets-Asset Management Segment | - | - | - | 2,333 |
| Other assets-Asset Management Segment-Consolidated Entity Excluding Variable Interest Entities VIE | 3,376 | 2,579 | 2,331 | - |
| Cash and cash equivalents-Retirement Services Segment | - | - | - | 7,779 |
| Cash and cash equivalents-Consolidated Entity Excluding Variable Interest Entities VIE-Retirement Services Segment | 14,994 | 12,733 | 13,020 | - |
| Restricted cash and cash equivalents-Retirement Services Segment | 1,332 | 943 | 1,761 | 628 |
| Investments-Retirement Services Segment | - | - | - | 172,488 |
| Investments-Consolidated Entity Excluding Variable Interest Entities VIE-Nonrelated Party-Retirement Services Segment | 321,081 | 262,283 | 213,099 | - |
| Investments in related parties-Retirement Services Segment | - | - | - | 23,960 |
| Investments-Consolidated Entity Excluding Variable Interest Entities VIE-Related Party-Retirement Services Segment | 34,979 | 28,884 | 25,842 | - |
| Cash and cash equivalents-Retirement Services Segment-Variable Interest Entity Primary Beneficiary | 569 | 583 | 98 | 362 |
| Investments-Retirement Services Segment-Variable Interest Entity Primary Beneficiary | - | - | - | 15,699 |
| Investments-Nonrelated Party-Retirement Services Segment-Variable Interest Entity Primary Beneficiary | 29,992 | 23,424 | 20,232 | - |
| Other assets-Retirement Services Segment-Variable Interest Entity Primary Beneficiary | 346 | 565 | 110 | 112 |
| Reinsurance recoverable-Retirement Services Segment | 10,282 | 8,194 | 4,154 | 4,367 |
| Deferred acquisition costs, deferred sales inducements and value of business acquired-Retirement Services Segment | 8,634 | 7,173 | 5,979 | 5,576 |
| Goodwill-Retirement Services Segment | 4,072 | 4,063 | 4,065 | 4,058 |
| Other assets-Retirement Services Segment | - | - | - | 10,902 |
| Other assets-Consolidated Entity Excluding Variable Interest Entities VIE-Retirement Services Segment | 15,120 | 13,794 | 11,953 | - |
| Total assets | 460,949 | 377,895 | 313,488 | 259,333 |
| Accounts payable, accrued expenses, and other liabilities-Asset Management Segment | - | 3,616 | 3,338 | 2,975 |
| Accounts payable, accrued expenses, and other liabilities-Asset Management Segment-Consolidated Entity Excluding Variable Interest Entities VIE | 3,861 | - | - | - |
| Due to related parties-Asset Management Segment | - | - | - | 998 |
| Other liabilities-Asset Management Segment-Consolidated Entity Excluding Variable Interest Entities VIE-Related Party | - | - | 870 | - |
| Due to related parties-Asset Management Segment | 1,062 | 710 | - | - |
| Debt-Asset Management Segment | 5,516 | 4,279 | 3,883 | 2,814 |
| Notes payable-Asset Management Segment | - | - | 0 | - |
| Other liabilities-Asset Management Segment-Nonrelated Party-Variable Interest Entity Primary Beneficiary | - | - | 1,145 | - |
| Other liabilities-Asset Management Segment | - | 1,363 | - | - |
| Accounts payable, accrued expenses, and other liabilities-Asset Management Segment-Variable Interest Entity Primary Beneficiary | 1,949 | - | - | - |
| Debt, at fair value-Asset Management Segment-Variable Interest Entity Primary Beneficiary | - | - | - | 0 |
| Notes payable-Asset Management Segment-Variable Interest Entity Primary Beneficiary | - | - | - | 50 |
| Other liabilities-Asset Management Segment-Variable Interest Entity Primary Beneficiary | - | - | - | 1,899 |
| Interest sensitive contract liabilities-Retirement Services Segment | 315,889 | 253,637 | 204,670 | 173,653 |
| Future policy benefits-Retirement Services Segment | 50,264 | 49,902 | 53,287 | 55,328 |
| Market risk benefits-Retirement Services Segment | 4,930 | 4,028 | 3,751 | - |
| Debt-Retirement Services Segment | 7,848 | 6,309 | 4,209 | 3,658 |
| Payables for collateral on derivatives and securities to repurchase-Retirement Services Segment | 11,085 | 11,652 | 7,536 | 6,707 |
| Other liabilities-Consolidated Entity Excluding Variable Interest Entities VIE-Nonrelated Party-Retirement Services Segment | - | - | 4,456 | - |
| Other liabilities-Retirement Services Segment | - | - | - | 3,213 |
| Other liabilities-Consolidated Entity Excluding Variable Interest Entities VIE-Retirement Services Segment | 14,329 | 9,784 | - | - |
| Other liabilities-Nonrelated Party-Retirement Services Segment-Variable Interest Entity Primary Beneficiary | - | - | 1,098 | - |
| Other liabilities-Retirement Services Segment-Variable Interest Entity Primary Beneficiary | 1,701 | 1,635 | - | 809 |
| Total liabilities | 418,434 | 346,915 | 288,243 | 252,104 |
| Redeemable non-controlling interests | 0 | 16 | 12 | 1,032 |
| Preferred stock-Series APreferred Stock | - | - | - | 0 |
| Preferred stock-Series BPreferred Stock | - | - | - | 0 |
| Common stock-Common Class A | - | - | - | 0 |
| Common stock-Common Class B | - | - | - | 0 |
| Common stock-Common Class C | - | - | - | 0 |
| Common stock | - | - | - | 0 |
| Mandatory convertible preferred stock, 28,749,665 and 28,749,765 shares issued and outstanding as of december31, 2025 and december31, 2024, respectively | 1,398 | 1,398 | 1,398 | - |
| Additional paid in capital | 16,954 | 15,327 | 15,249 | 14,982 |
| Retained earnings (accumulated deficit) | 7,634 | 6,022 | 2,972 | -2,259 |
| Accumulated other comprehensive income (loss) | -2,645 | -5,494 | -5,575 | -12,326 |
| Total apollo global management, inc. stockholders equity | 23,341 | 17,253 | 14,044 | 397 |
| Non-controlling interests | 19,174 | 13,711 | 11,189 | 5,800 |
| Total equity | 42,515 | 30,964 | 25,233 | 6,197 |
| Total liabilities, redeemable non-controlling interests and equity | 460,949 | 377,895 | 313,488 | 259,333 |
Apollo Global Management, Inc. (APO)
Apollo Global Management, Inc. (APO)