v3.25.4
Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Share Activity
The table below outlines share activity:

Years ended December 31,
202520242023
Shares of common stock issued in settlement of vested RSUs and options exercised1
8,952,317 7,852,512 8,643,520 
Reduction of shares of common stock issued2
(3,588,339)(2,998,607)(3,185,680)
Shares of common stock purchased related to share issuances and forfeitures3
— (150,676)(162,123)
Issuance of shares of common stock for equity-based awards5,363,978 4,703,229 5,295,717 
1 The gross value of shares issued was $1,419 million, $868 million and $626 million for the years ended December 31, 2025, 2024 and 2023, respectively, based on the closing price of the shares of common stock at the time of issuance.
2 Cash paid for tax liabilities associated with net share settlement was $583 million, $338 million and $259 million for the years ended December 31, 2025, 2024 and 2023, respectively.
3 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, 2024 and 2023, Apollo issued 401,111 and 551,333 of such restricted shares and 150,676 and 162,123 of such RSUs under the Equity Plan, respectively. During the year ended December 31, 2023, Apollo repurchased 713,456 shares of common stock in open-market transactions not pursuant to a publicly-announced repurchase plan or program. In addition, there were 1,085 and 10,880 restricted shares forfeited during the years ended December 31, 2024 and 2023, respectively.
Schedule of Quarterly Dividends and Distributions
Outlined below is information regarding quarterly dividends and distributions (in millions, except per share data).

Dividend Declaration DateDividend per Share of Common StockPayment DateDividend to Common StockholdersDistribution Equivalents on Participating Securities
February 9, 2023$0.40 February 28, 2023$229 $12 
May 9, 20230.43 May 31, 2023244 12 
August 3, 20230.43 August 31, 2023244 12 
November 1, 20230.43 November 30, 2023244 15 
Year ended December 31, 2023$1.69 $961 $51 
February 8, 2024$0.43 February 29, 2024$245 $14 
May 2, 20240.46 May 31, 2024263 16 
August 1, 20240.46 August 30, 2024262 15 
November 5, 20240.46 November 29, 2024262 15 
Year ended December 31, 2024$1.81 $1,032 $60 
February 4, 2025$0.46 February 28, 2025$264 $14 
May 2, 20250.51 May 30, 2025292 14 
August 5, 20250.51 August 29, 2025291 15 
November 4, 20250.51 November 28, 2025296 15 
Year ended December 31, 2025$1.99 $1,143 $58 
Schedule of Accumulated Other Comprehensive Income (Loss)
(In millions)Unrealized investment gains (losses) on AFS securities without a credit allowanceUnrealized investment gains (losses) on AFS securities with a credit allowanceUnrealized gains (losses) on hedging instrumentsRemeasurement gains (losses) on future policy benefits related to discount rateRemeasurement gains (losses) on market risk benefits related to credit riskForeign currency translation and other adjustmentsAccumulated other comprehensive income (loss)
Balance at December 31, 2024$(9,174)$(284)$(119)$4,235 $(103)$(49)$(5,494)
Other comprehensive income (loss) before reclassifications3,829 40 284 (612)(103)181 3,619 
Less: Reclassification adjustments for gains (losses) realized1
(569)(18)32 — — — (555)
Less: Income tax provision (benefit)899 12 52 (126)(22)20 835 
Less: Other comprehensive income (loss) attributable to non-controlling interests, net of tax697 14 98 (388)(15)84 490 
Balance at December 31, 2025$(6,372)$(252)$(17)$4,137 $(169)$28 $(2,645)
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, 2023$(8,675)$(289)$(81)$3,458 $3 $9 $(5,575)
Other comprehensive income (loss) before reclassifications(1,354)(5)(8)1,425 (149)(101)(192)
Less: Reclassification adjustments for gains (losses) realized1
(223)(15)43 — — — (195)
Less: Income tax provision (benefit)(219)3 (8)287 (31)(11)21 
Less: Other comprehensive income (loss) attributable to non-controlling interests, net of tax(413)2 (5)361 (12)(32)(99)
Balance at December 31, 2024$(9,174)$(284)$(119)$4,235 $(103)$(49)$(5,494)
1 Recognized in investment related gains (losses) on the consolidated statements of operations.
(In millions)Unrealized investment gains (losses) on AFS securities without a credit allowanceUnrealized investment gains (losses) on AFS securities with a credit allowanceUnrealized gains (losses) on hedging instrumentsRemeasurement gains (losses) on future policy benefits related to discount rateRemeasurement gains (losses) on market risk benefits related to credit riskForeign currency translation and other adjustmentsAccumulated other comprehensive income (loss)
Balance at December 31, 2022$(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 provision (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.