8-KRegulation FD

Apollo Global Management, Inc. 8-K Report, Regulation FD Disclosure (May 5, 2023)

Filed May 5, 2023For Securities:APOAPOSAPO-PA

Summary

Apollo Global Management, Inc. (AGM), through its subsidiary Athene Holding Ltd. (AHL), has released a historical financial supplement that has been recast to reflect the adoption of the new US GAAP accounting standard for Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). This update impacts the accounting and disclosures for long-duration insurance and investment contracts, which are key components of Athene's business. Investors should note that this information is being furnished under Regulation FD and is not being formally filed, meaning it is not subject to the same liability provisions as a standard filing. The primary takeaway for investors is the company's proactive approach to adopting new accounting standards. While this filing does not contain new financial performance data, it signals a commitment to transparency and adherence to updated accounting principles. Investors interested in the specific financial impacts of the LDTI adoption on Athene's historical performance should refer to the supplement made available on AHL's website.

Key Highlights

  • 1Athene Holding Ltd. (AHL), a subsidiary of Apollo Global Management, Inc. (AGM), has updated its historical financial supplement.
  • 2The recast financial supplement reflects the adoption of the US GAAP accounting standard for Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI).
  • 3The LDTI standard impacts accounting and disclosures for long-duration insurance and investment contracts.
  • 4This information was made available on AHL's website.
  • 5The filing is made under Regulation FD Disclosure, indicating the information is being furnished, not formally filed.
  • 6The Chief Financial Officer, Martin Kelly, signed the report.

Frequently Asked Questions

The main purpose of this 8-K filing is to inform investors that Athene Holding Ltd. (AHL), a subsidiary of Apollo Global Management, Inc. (AGM), has released a recast historical financial supplement that incorporates the adoption of the new US GAAP accounting standard for Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI).

The LDTI standard represents updates to US GAAP concerning the accounting and disclosures for long-duration insurance and investment contracts. For Apollo Global Management, whose subsidiary Athene operates in this space, adopting this standard is important for ensuring accurate financial reporting and compliance with evolving accounting regulations.

No, this 8-K filing does not provide new financial performance results. It primarily serves to announce the recasting of historical financial data by Athene Holding Ltd. to reflect the adoption of the LDTI accounting standard. Investors should look to the supplement provided on AHL's website for details on the recast historical financials.

No, the information provided under Item 7.01 (Regulation FD Disclosure) is being furnished, not filed. This means it is not subject to the liabilities under Section 18 of the Securities Exchange Act of 1934, nor will it be automatically incorporated by reference into other SEC filings unless explicitly stated.