v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets    
Deferred acquisition costs, deferred sales inducements and value of business acquired $ 8,812 $ 8,634
Total Assets 467,530 460,949
Liabilities    
Debt 14,220 13,364
Interest sensitive contract liabilities 326,502  
Future policy benefits 48,657  
Market risk benefits 5,010  
Total Liabilities 427,997 418,434
Commitments and Contingencies (note 17)
Redeemable non-controlling interests    
Redeemable non-controlling interests 0 0
Equity    
Mandatory Convertible Preferred Stock, 28,749,665 and 28,749,665 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 1,398 1,398
Common Stock, $0.00001 par value, 90,000,000,000 shares authorized, 576,507,457 and 578,981,398 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 0 0
Additional paid in capital 16,540 16,954
Retained earnings 5,157 7,634
Accumulated other comprehensive income (loss) (3,144) (2,645)
Total Apollo Global Management, Inc. Stockholders’ Equity 19,951 23,341
Non-controlling interests 19,582 19,174
Total Equity 39,533 42,515
Total Liabilities, Redeemable non-controlling interests and Equity 467,530 460,949
VIE, Primary Beneficiary    
Assets    
Cash and cash equivalents 1,149  
Asset Management    
Assets    
Restricted cash and cash equivalents 19 19
Due from related parties 861 663
Goodwill 1,833 1,848
Total Assets 20,464 19,548
Liabilities    
Due to related parties 1,296 1,062
Debt 6,380 5,516
Total Liabilities 14,463 12,388
Asset Management | Consolidated Entity, Excluding Consolidated VIE    
Assets    
Cash and cash equivalents 3,569 3,350
Due from related parties 838 647
Other assets 3,588 3,376
Liabilities    
Accounts payable, accrued expenses, and other liabilities 3,857 3,861
Asset Management | Consolidated Entity, Excluding Consolidated VIE | Nonrelated Party    
Assets    
Investments 6,294 6,226
Asset Management | VIE, Primary Beneficiary    
Assets    
Cash and cash equivalents 851 327
Investments 3,301 3,509
Due from related parties 23 16
Other assets 148 230
Liabilities    
Accounts payable, accrued expenses, and other liabilities 2,930 1,949
Asset Management | VIE, Primary Beneficiary | Nonrelated Party    
Assets    
Investments 3,301 3,509
Retirement Services    
Assets    
Restricted cash and cash equivalents 1,159 1,332
Goodwill 4,079 4,072
Reinsurance recoverable 10,304 10,282
Deferred acquisition costs, deferred sales inducements and value of business acquired 8,812 8,634
Total Assets 447,066 441,401
Liabilities    
Debt 7,840 7,848
Interest sensitive contract liabilities 326,502 315,889
Future policy benefits 48,657 50,264
Market risk benefits 5,010 4,930
Payables for collateral on derivatives and securities to repurchase 8,529 11,085
Total Liabilities 413,534 406,046
Retirement Services | Consolidated Entity, Excluding Consolidated VIE    
Assets    
Cash and cash equivalents 17,852 14,994
Other assets 14,531 15,120
Liabilities    
Other liabilities 14,876 14,329
Retirement Services | Consolidated Entity, Excluding Consolidated VIE | Nonrelated Party    
Assets    
Investments 318,325 321,081
Retirement Services | Consolidated Entity, Excluding Consolidated VIE | Due to related parties    
Assets    
Investments 39,485 34,979
Retirement Services | VIE, Primary Beneficiary    
Assets    
Cash and cash equivalents 298 569
Other assets 299 346
Liabilities    
Other liabilities 2,120 1,701
Retirement Services | VIE, Primary Beneficiary | Nonrelated Party    
Assets    
Investments $ 31,922 $ 29,992