Apollo Global Management (APO-PA) 8-K Regulation FD Disclosure

EXHIBIT 99.1

UNAUDITED RECONCILIATION OF FINANCIAL DATA

The following tables present the historical unaudited financial information for the Apollo Operating Group as of and for the fiscal year ended December 31, 2014. The Apollo Operating Group does not report audited or unaudited financial information on a stand-alone basis. Accordingly, the financial data presented herein for the Apollo Operating Group has been reconciled to Apollo Global Management, LLC’s financial statements for the relevant periods.

	For The Fiscal Year Ended December 31, 2014
	Total Apollo Operating Group Consolidated			VIE and Consolidated Funds			Other(1)			Total Apollo Global Management, LLC Consolidated
	(dollars in thousands)
Statement of Operations
Revenues:
Advisory and transaction fees from affiliates	$	316,082		$	—		$	(495	)	$	315,587
Management fees from affiliates		913,311			(122	)		(62,748	)		850,441
Carried interest income (loss) from affiliates		406,520			—			(12,465	)		394,055
Total Revenues		1,635,913			(122	)		(75,708	)		1,560,083
Expenses:
Compensation and benefits:
Equity-based compensation		126,320			—			—			126,320
Salary, bonus and benefits		338,049			—			—			338,049
Profit sharing expense		276,190			—			—			276,190
Total Compensation and Benefits		740,559			—			—			740,559
Interest expense		22,393			—			—			22,393
Professional fees		80,696			1,334			—			82,030
General, administrative and other		96,523			1,140			—			97,663
Placement fees		15,422			—			—			15,422
Occupancy		40,427			—			—			40,427
Depreciation and amortization		44,036			—			1,033			45,069
Total Expenses		1,040,056			2,474			1,033			1,043,563
Other Income (Loss):
Net income (loss) from investment activities		9,062			204,181			—			213,243
Net gains (losses) from investment activities of consolidated      variable interest entities		—			(52,430	)		74,994			22,564
Income (loss) from equity method investments		59,975			—			(6,119	)		53,856
Interest income (loss)		9,280			1,399			(287	)		10,392
Other income (loss), net		28,017			—			32,575			60,592
Total Other Income (Loss)		106,334			153,150			101,163			360,647
Income (Loss) before income tax provision		702,191			150,554			24,422			877,167
Income tax benefit (provision)		(10,995	)		—			(136,250	)		(147,245	)
Net Income (Loss)		691,196			150,554	)		(111,828	)		729,922
Net income (loss) attributable to Non-controlling Interests		(417,868	)		(143,825	)		—			(561,693	)
Net Income (Loss) Attributable to Apollo Global      Management, LLC	$	273,328		$	6,729		$	(111,828	)	$	168,229

(1) Includes eliminations for VIE and Fund consolidation and entities not included in the Apollo Operating Group.

	As of December 31, 2014
	Total Apollo Operating Group Consolidated		VIE and Consolidated Funds		Other(1)			Total Apollo Global Management, LLC Consolidated
	(dollars in thousands)
Statement of Financial Data
Assets:
Cash and cash equivalents	$	1,203,875	$	—	$	177		$	1,204,052
Cash and cash equivalents held at Consolidated Funds		—		1,611		—			1,611
Restricted cash		6,353		—		—			6,353
Investments		857,391		2,173,989		(151,374	)		2,880,006
Assets of consolidated variable interest entities
Cash and cash equivalents		—		1,088,952		—			1,088,952
Investments, at fair value		—		15,658,948		(295	)		15,658,653
Other assets		—		323,932		(692	)		323,240
Carried interest receivable		958,846		—		(47,180	)		911,666
Due from Affiliates		359,898		—		(91,883	)		268,015
Fixed assets, net		35,459		—		447			35,906
Deferred tax assets		13,077		—		593,640			606,717
Other assets		59,650		3,578		21,156			84,384
Goodwill		88,851		—		(39,608	)		49,243
Intangible assets, net		60,039		—		—			60,039
Total Assets	$	3,643,439	$	19,251,010	$	284,388		$	23,178,837
Liabilities and Shareholders’ Equity
Liabilities:
Accounts payable and accrued expenses	$	36,834	$	474	$	6,938		$	44,246
Accrued compensation and benefits		59,278		—		—			59,278
Deferred revenue		199,614		—		—			199,614
Due to affiliates		55,650		354		509,149			565,153
Profit sharing payable		434,852		—		—			434,852
Debt		1,034,014		—		—			1,034,014
Liabilities of consolidated variable interest entities:
Debt, at fair value		—		14,170,474		(47,374)	)		14,123,100
Other liabilities		—		728,957		(239	)		728,718
Due to affiliates		—		58,526		(58,526	)		—
Other liabilities		42,183		4,218		—			46,401
Total Liabilities		1,862,425		14,963,003		409,948			17,235,376
Shareholders’ Equity:
Apollo Global Management, LLC shareholders’ Equity
Additional paid in capital		35,983		—		2,218,300			2,254,283
Accumulated deficit		767,967		2,175,406		(4,344,034	)		(1,400,661	)
Appropriated partners’ capital		—		972,774		(39,608	)		933,166
Accumulated other comprehensive income      (loss)		33,052		—		(33,358	)		(306	)
Total Apollo Global Management, LLC shareholders’ equity		837,002		3,148,180		(2,198,700	)		1,786,482
Non-Controlling Interests in consolidated entities		9,228		1,139,827		2,073,140			3,222,195
Non-Controlling Interests in Apollo Operating Group		934,784		—		—			934,784
Total Shareholders’ Equity		1,781,014		4,288,007		(125,560	)		5,943,461
Total Liabilities and Shareholders’ Equity	$	3,643,439	$	19,251,010	$	284,388		$	23,178,837

(1) Includes eliminations for VIE and Fund consolidation and entities not included in the Apollo Operating Group.