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, 2015. 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.

	As of December 31, 2015
	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	$	607,976		$	-		$	4,529		$	612,505
Cash and cash equivalents held at consolidated funds		-			4,817			-			4,817
Restricted cash		5,700			-			-			5,700
Investments		1,223,407			28,547			(97,205	)		1,154,749
Assets of consolidated variable interest entities:
Cash and cash equivalents		-			56,793			-			56,793
Investments, at fair value		-			910,858			(292	)		910,566
Other assets		-			63,413			-			63,413
Carried interest receivable		643,907			-			-			643,907
Due from affiliates		512,816			-			(264,981	)		247,835
Deferred tax assets		11,390			-			634,817			646,207
Other assets		93,144			2,636			64			95,844
Goodwill		88,852			-			-			88,852
Intangible assets, net		28,620			-			-			28,620
Total Assets	$	3,215,812		$	1,067,064		$	276,932		$	4,559,808
Liabilities and Shareholders' Equity
Liabilities:
Accounts payable and accrued expenses	$	91,744		$	-		$	268		$	92,012
Accrued compensation and benefits		54,836			-			-			54,836
Deferred revenue		177,875			-			-			177,875
Due to affiliates		139,921			-			454,615			594,536
Profit sharing payable		295,674			-			-			295,674
Debt		1,025,255			-			-			1,025,255
Liabilities of consolidated variable interest entities:
Debt, at fair value		-			843,584			(42,314	)		801,270
Other liabilities		-			86,226			(244	)		85,982
Due to affiliates		-			1,137			(1,137	)		-
Other liabilities		38,750			4,637			-			43,387
Total Liabilities		1,824,055			935,584			411,188			3,170,827
Shareholders' Equity:
Apollo Global Management, LLC shareholders' Equity:										��
Additional paid in capital		-			-			2,005,509			2,005,509
Accumulated deficit		737,026			34,468			(2,119,878	)		(1,348,384	)
Accumulated other comprehensive (loss) income		(6,001	)		(2,496	)		877			(7,620	)
Total Apollo Global Management, LLC shareholders'     equity		731,025			31,972			(113,492	)		649,505
Non-Controlling Interests in consolidated entities		7,817			99,508			(20,764	)		86,561
Non-Controlling Interests in Apollo Operating Group		652,915			-			-			652,915
Total Shareholders' Equity		1,391,757			131,480			(134,256	)		1,388,981
Total Liabilities and Shareholders' Equity	$	3,215,812		$	1,067,064		$	276,932		$	4,559,808

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

	For the Fiscal Year Ended December 31, 2015
	Total Apollo Operating Group Consolidated			VIE and Consolidated Funds Total			Other (1)			Total Apollo Global Management, LLC  Consolidated
Statement of Operations	(dollars in thousands)
Revenues:
Advisory and transaction fees from affiliates, net	$	14,186		$	-		$	-		$	14,186
Management fees from affiliates		933,891			(126	)		(3,571	)		930,194
Carried interest income from affiliates		97,290			-			-			97,290
Total Revenues		1,045,367			(126	)		(3,571	)		1,041,670
Expenses:
Compensation and benefits:
Salary, bonus and benefits		354,524			-			-			354,524
Equity-based compensation		97,676			-			-			97,676
Profit sharing expense		85,229			-			-			85,229
Total Compensation and Benefits		537,429			-			-			537,429
Interest expense		30,071			-			-			30,071
General, administrative and other		102,118			137			-			102,255
Professional fees		68,112			-			1			68,113
Occupancy		40,219			-			-			40,219
Placement fees		8,414			-			-			8,414
Depreciation and amortization		44,027			-			447			44,474
Total Expenses		830,390			137			448			830,975
Other  Income (Loss):
Net gain (loss) from investment activities		122,130			(407	)		-			121,723
Net gains from investment activities of consolidated variable interest entities		-			13,656			5,394			19,050
Income (loss) from equity method investments		18,441			-			(3,586	)		14,855
Interest income (loss)		3,635			1,420			(1,823	)		3,232
Other income, net		7,672			-			1			7,673
Total Other Income (Loss)		151,878			14,669			(14	)		166,533
Income (loss) before income tax provision		366,856			14,406			(4,034	)		377,228
Income tax provision		(10,975	)		-			(15,758	)		(26,733	)
Net Income (Loss)		355,881			14,406			(19,792	)		350,495
Net income attributable to Non-controlling Interests		(205,178	)		(10,820	)		-			(215,998	)
Net Income (Loss)  Attributable to Apollo Global Management, LLC	$	150,703		$	3,586		$	(19,792	)	$	134,497

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