| Cash Flow | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Net income (loss) | 4,241 | 1,780 | 938 | 4,711 |
| Equity-based compensation | 523 | 315 | 149 | 478 |
| Net investment income | 1,119 | 776 | 370 | 1,010 |
| Net recognized (gains) losses on investments and derivatives | 2,754 | -49 | -306 | 3,607 |
| Depreciation and amortization | 1,040 | 640 | 308 | 779 |
| Net amortization (accretion) of net investment premiums, discount and other | 135 | 90 | 42 | 47 |
| Policy acquisition costs deferred | -1,493 | -957 | -515 | -1,191 |
| Other non-cash amounts included in net income (loss), net | -357 | -228 | -300 | -210 |
| Changes in consolidation | 23 | 23 | 23 | -248 |
| Purchases of investments by funds and vies | 4,554 | 1,719 | 871 | 4,836 |
| Proceeds from sale of investments by funds and vies | -2,498 | -1,665 | -1,191 | -4,738 |
| Interest sensitive contract liabilities | 5,867 | 2,977 | 519 | 4,948 |
| Future policy benefits, market risk benefits and reinsurance recoverable | -1,521 | -1,073 | -289 | -1,135 |
| Other assets and liabilities, net | 350 | 742 | 589 | 1,029 |
| Net cash provided by operating activities | 2,577 | 2,274 | 1,012 | 3,257 |
| Purchases of investments and contributions to equity method investments | 5,991 | 4,313 | 1,336 | 3,402 |
| Purchases of available-for-sale securities | 70,985 | 47,445 | 24,317 | 63,058 |
| Purchases of mortgage loans | 25,977 | 17,779 | 9,013 | 19,319 |
| Purchases of investment funds | 2,434 | 1,593 | 714 | 1,895 |
| Purchases of u.s. treasury securities | 451 | 444 | 444 | 0 |
| Purchases of derivatives instruments and other investments | 4,973 | 2,537 | 942 | 2,845 |
| Sales, maturities and repayments of investments and distributions from equity method investments | 61,369 | 37,860 | 18,976 | 45,089 |
| Acquisition of subsidiaries, net of cash acquired | -99 | - | - | - |
| Other investing activities, net | 411 | 266 | -902 | 121 |
| Net cash used in investing activities | -49,754 | -36,517 | -16,888 | -45,551 |
| Issuance of debt | 4,702 | 2,632 | 294 | 6,124 |
| Repayment of debt | 2,199 | 1,285 | 818 | 4,494 |
| Redemption of subsidiary equity interests | - | - | - | 0 |
| Repurchase of common stock | 533 | 193 | 193 | 788 |
| Common stock dividends | 890 | 584 | 278 | 815 |
| Preferred stock dividends | 73 | 49 | 24 | 73 |
| Distributions paid to non-controlling interests | 1,315 | 1,030 | 210 | 859 |
| Contributions from non-controlling interests | 2,197 | 1,191 | 607 | 2,476 |
| Distributions to redeemable non-controlling interests | - | - | - | 0 |
| Issuance of mandatory convertible preferred stock, net of issuance costs | - | - | - | 0 |
| Deposits on investment-type policies and contracts | 69,269 | 45,973 | 25,306 | 57,013 |
| Withdrawals on investment-type policies and contracts | 16,821 | 9,604 | 5,248 | 16,054 |
| Subsidiary issuance of equity interests to non-controlling interests | - | - | - | 0 |
| Net change in cash collateral posted for derivative transactions and securities to repurchase | 2,586 | 4,392 | 4,399 | -416 |
| Other financing activities, net | -498 | -570 | -763 | -719 |
| Net cash provided by financing activities | 51,253 | 32,089 | 14,274 | 42,227 |
| Effect of exchange rate changes on cash and cash equivalents | 13 | 13 | 3 | 3 |
| Net increase (decrease) in cash and cash equivalents, restricted cash and cash held at consolidated variable interest entities | 4,089 | -2,141 | -1,599 | -64 |
| Cash and cash equivalents at beginning of period | 17,112 | 17,112 | 17,112 | 17,691 |
| Cash and cash equivalents at end of period | 21,201 | 14,971 | 15,513 | 17,627 |
Apollo Global Management, Inc. (APOS)
Apollo Global Management, Inc. (APOS)