v3.24.0.1
Equity (Tables)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Schedule of Share Activity
The table below outlines the share activity for the years ended December 31, 2023, 2022 and 2021:

Years ended December 31,
202320222021
Shares of common stock issued in settlement of vested RSUs and options exercised1
8,643,520 6,663,694 5,399,054 
Shares issued to Apollo Opportunity Foundation2
— 1,724,137 — 
Reduction of shares of common stock issued3
(3,185,680)(2,896,130)(2,368,832)
Shares of common stock purchased related to share issuances and forfeitures4
(162,123)(219,960)(275,655)
Issuance of shares of common stock for equity-based awards5,295,717 5,271,741 2,754,567 
1 The gross value of shares issued was $626 million, $420 million and $316 million for the years ended December 31, 2023, 2022 and 2021 respectively, based on the closing price of the shares of common stock at the time of issuance.
2 Shares issued to Apollo Opportunity Foundation in connection with an irrevocable pledge to contribute 1.7 million shares of common stock. The gross value of shares issued for the year ended December 31, 2022 totaled $103 million.
3 Cash paid for tax liabilities associated with net share settlement was $259 million, $185 million and $141 million for the years ended December 31, 2023 and 2022, respectively.
4 Certain Apollo employees receive a portion of the profit sharing proceeds of certain funds in the form of (a) restricted shares of common stock that they are required to purchase with such proceeds or (b) RSUs, in each case which equity-based awards generally vest over three years. These equity-based awards are granted under the Company's Equity Plan. To prevent dilution on account of these awards, Apollo may, in its discretion, repurchase shares of common stock on the open market and retire them. During the years ended December 31, 2023, 2022 and 2021 Apollo issued 551,333, 546,766 and 1,188,207 of such restricted shares and 162,123, 219,960 and 275,655 of such RSUs under the Equity Plan, respectively, and repurchased 713,456, 766,726 and 1,463,862 shares of common stock in open-market transactions not pursuant to a publicly-announced repurchase plan or program, respectively. In addition, there were 10,880, 12,883 and 0 restricted shares forfeited during the years ended December 31, 2023, 2022 and 2021.
Schedule of Dividends and Distributions
Outlined below is information regarding quarterly dividends and distributions (in millions, except per share data). Certain subsidiaries of the Company may be subject to U.S. federal, state, local and non-U.S. income taxes at the entity level and may pay taxes and/or make payments under the tax receivable agreement.
Dividend Declaration DateDividend per Share of Common StockPayment DateDividend to Common StockholdersDistribution to Non-Controlling Interest Holders in the Apollo Operating GroupTotal Distributions Distribution Equivalents on Participating Securities
February 3, 2021$0.60 February 26, 2021$139 $121 $260 $5 
N/A— April 14, 2021— 42 42 — 
May 4, 20210.50 May 28, 2021116 101 217 4 
N/A— June 15, 2021— 20 20 — 
August 4, 20210.50 August 31, 2021122 94 216 4 
N/A— September 15, 2021— 24 24 — 
November 2, 20210.50 November 30, 2021124 93 217 4 
N/A— December 15, 2021— 23 23 — 
Year ended December 31, 2021$2.10 $501 $518 $1,019 $17 
February 11, 2022$0.40 February 28, 2022$229 $— $229 $12 
May 5, 20220.40 May 31, 2022229 — 229 12 
August 4, 20220.40 August 31, 2022229 — 229 11 
November 2, 20220.40 November 30, 2022229 — 229 11 
Year ended December 31, 2022$1.60 $916 $— $916 $46 
February 9, 2023$0.40 February 28, 2023$229 $— $229 $12 
May 9, 20230.43 May 31, 2023244 — 244 12 
August 3, 2023$0.43 August 31, 2023244 — 244 12 
November 1, 2023$0.43 November 30, 2023244 — 244 15 
Year Ended December 31, 2023$1.69 $961 $— $961 $51 
Schedule of Accumulated Other Comprehensive Income (Loss)
(In millions)Unrealized investment gains (losses) on AFS securities without a credit allowanceUnrealized investment gains (losses) on AFS securities with a credit allowanceUnrealized gains (losses) on hedging instrumentsRemeasurement gains (losses) on future policy benefits related to discount rateRemeasurement gains (losses) on market risk benefits related to credit riskForeign currency translation and other adjustmentsAccumulated other comprehensive income (loss)
Balance at December 31, 2022$(12,568)$(334)$48 $5,256 $285 $(22)$(7,335)
Other comprehensive income (loss) before reclassifications5,067 51 (117)(2,236)(374)65 2,456 
Less: Reclassification adjustments for gains (losses) realized1
(163)(3)82 — — — (84)
Less: Income tax expense (benefit)588 6 (51)38 (78)10 513 
Less: Other comprehensive income (loss) attributable to non-controlling interests, net of subsidiary issuance of equity interest and tax749 3 (19)(476)(14)24 267 
Balance at December 31, 2023$(8,675)$(289)$(81)$3,458 $3 $9 $(5,575)
1 Recognized in investment related gains (losses) on the consolidated statements of operations.
(In millions)Unrealized investment gains (losses) on AFS securities without a credit allowanceUnrealized investment gains (losses) on AFS securities with a credit allowanceUnrealized gains (losses) on hedging instrumentsRemeasurement gains (losses) on future policy benefits related to discount rateRemeasurement gains (losses) on market risk benefits related to credit riskForeign currency translation and other adjustmentsAccumulated other comprehensive income (loss)
Balance at December 31, 2021$(1)$— $(1)$— $— $(3)$(5)
Other comprehensive income (loss) before reclassifications(17,931)(463)71 8,425 366 (58)(9,590)
Less: Reclassification adjustments for gains (losses) realized1
(218)(18)67 — — — (169)
Less: Income tax expense (benefit)(3,154)(86)12 1,223 77 (5)(1,933)
Less: Other comprehensive income (loss) attributable to non-controlling interests, net of tax(1,992)(25)(57)1,946 4 (34)(158)
Balance at December 31, 2022$(12,568)$(334)$48 $5,256 $285 $(22)$(7,335)
1 Recognized in investment related gains (losses) on the consolidated statements of operations.