Apollo Global Management (APO-PA) 10-K 21 Feb 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Feb. 18, 2020	Jun. 30, 2019
Entity Information [Line Items]
Document Type	10-K
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-35107
Entity Registrant Name	APOLLO GLOBAL MANAGEMENT, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8880053
Entity Address, Address Line One	9 West 57th Street,
Entity Address, Address Line Two	43rd Floor
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	212
Local Phone Number	515-3200
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 6,736.1
Entity Central Index Key	0001411494
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Class A Common Stock
Trading Symbol	APO
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		231,012,948
Series A Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	6.375% Series A Preferred Stock
Trading Symbol	APO.PR A
Security Exchange Name	NYSE
Series B Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	6.375% Series B Preferred Stock
Trading Symbol	APO.PR B
Security Exchange Name	NYSE
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		1
Class C Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		1

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets:
Cash and cash equivalents	$ 1,556,202	$ 609,747
Restricted cash	19,779	3,457
U.S. Treasury securities, at fair value	554,387	392,932
Investments (includes performance allocations of $1,507,571 and $912,182 as of December 31, 2019 and December 31, 2018, respectively)	3,609,859	2,722,612
Assets of consolidated variable interest entities:
Cash and cash equivalents	45,329	49,671
Other assets	326,449	192,169
Incentive fees receivable	2,414	6,792
Due from related parties	415,069	378,108
Deferred tax assets, net	473,165	306,094
Other assets	326,449	192,169
Lease assets	190,696
Goodwill	93,911	88,852
Total Assets	8,542,117	5,991,654
Liabilities:
Accounts payable and accrued expenses	94,364	70,878
Accrued compensation and benefits	64,393	73,583
Deferred revenue	84,639	111,097
Due to related parties	501,387	425,435
Profit sharing payable	758,669	452,141
Debt	2,650,600	1,360,448
Liabilities of consolidated variable interest entities:
Other liabilities	210,740	111,794
Other liabilities	210,740	111,794
Lease liabilities	209,479
Total Liabilities	5,503,990	3,539,814
Commitments and Contingencies (see note 16)
Apollo Global Management, Inc. stockholders’ equity:
Additional paid in capital	1,302,587	1,299,418
Accumulated deficit		(473,276)
Accumulated other comprehensive loss	(4,578)	(4,159)
Total Apollo Global Management, Inc. Stockholders’ equity	1,852,222	1,376,196
Total Stockholders’ Equity	3,038,127	2,451,840
Total Liabilities and Stockholders’ Equity	8,542,117	5,991,654
Consolidated Entities Excluding VIE
Apollo Global Management, Inc. stockholders’ equity:
Non-Controlling Interests	281,904	271,522
Series A Preferred Share
Apollo Global Management, Inc. stockholders’ equity:
Preferred stock		264,398
Series A Preferred Stock
Apollo Global Management, Inc. stockholders’ equity:
Preferred stock	264,398
Series B Preferred Share
Apollo Global Management, Inc. stockholders’ equity:
Preferred stock		289,815
Series B Preferred Stock
Apollo Global Management, Inc. stockholders’ equity:
Preferred stock	289,815
Class A Common Share
Apollo Global Management, Inc. stockholders’ equity:
Common stock		0
Class A Common Stock
Apollo Global Management, Inc. stockholders’ equity:
Common stock	0
Class B Common Share
Apollo Global Management, Inc. stockholders’ equity:
Common stock		0
Class B Common Stock
Apollo Global Management, Inc. stockholders’ equity:
Common stock	0
Class C Common Stock
Apollo Global Management, Inc. stockholders’ equity:
Common stock	0
Apollo Operating Group
Apollo Global Management, Inc. stockholders’ equity:
Non-Controlling Interests	904,001	804,122
Consolidated Variable Interest Entities
Assets of consolidated variable interest entities:
Cash and cash equivalents	45,329	49,671
Investments, at fair value	1,213,169	1,175,677
Other assets	41,688	65,543
Other assets	41,688	65,543
Liabilities of consolidated variable interest entities:
Debt, at fair value	850,147	855,461
Other liabilities	79,572	78,977
Other liabilities	$ 79,572	$ 78,977

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019
Performance allocations	$ 912,182	$ 1,507,571
Series A Preferred Share
Preferred stock, shares issued (in shares)	11,000,000
Preferred stock, shares outstanding (in shares)	11,000,000
Series A Preferred Stock
Preferred stock, shares issued (in shares)		11,000,000
Preferred stock, shares outstanding (in shares)		11,000,000
Series B Preferred Share
Preferred stock, shares issued (in shares)	12,000,000
Preferred stock, shares outstanding (in shares)	12,000,000
Series B Preferred Stock
Preferred stock, shares issued (in shares)		12,000,000
Preferred stock, shares outstanding (in shares)		12,000,000
Class A Common Share
Common stock, par value (in USD per share)
Common stock, shares authorized	Unlimited
Shares issued (in shares)	201,400,500
Shares outstanding (in shares)	201,400,500
Class A Common Stock
Common stock, par value (in USD per share)		$ 0.00001
Common stock, shares authorized (in shares)		90,000,000,000
Shares issued (in shares)		222,994,407
Shares outstanding (in shares)		222,994,407
Class B Common Share
Common stock, par value (in USD per share)
Common stock, shares authorized	Unlimited
Shares issued (in shares)	1
Shares outstanding (in shares)	1
Class B Common Stock
Common stock, par value (in USD per share)		$ 0.00001
Common stock, shares authorized (in shares)		999,999,999
Shares issued (in shares)		1
Shares outstanding (in shares)		1
Class C Common Stock
Common stock, par value (in USD per share)		$ 0.00001
Common stock, shares authorized (in shares)		1
Shares issued (in shares)		1
Shares outstanding (in shares)		1

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Performance allocations	$ 1,057,139	$ (400,305)	$ 1,306,193
Principal investment income	166,527	5,122	161,630
Total investment income (loss)	1,223,666	(395,183)	1,467,823
Total Revenues	2,931,849	1,093,065	2,771,803
Compensation and benefits:
Salary, bonus and benefits	514,513	459,604	428,882
Equity-based compensation	189,648	173,228	91,450
Profit sharing expense	556,926	(57,833)	515,073
Total compensation and benefits	1,261,087	574,999	1,035,405
Interest expense	98,369	59,374	52,873
General, administrative and other	330,342	266,444	257,858
Placement fees	1,482	2,122	13,913
Total Expenses	1,691,280	902,939	1,360,049
Other Income (Loss):
Net gains (losses) from investment activities	138,154	(186,449)	95,104
Net gains from investment activities of consolidated variable interest entities	39,911	45,112	10,665
Interest income	35,522	20,654	6,421
Other income (loss), net	(46,307)	35,829	245,640
Total Other Income (Loss)	167,280	(84,854)	357,830
Income before income tax (provision) benefit	1,407,849	105,272	1,769,584
Income tax (provision) benefit	128,994	(86,021)	(325,945)
Net Income	1,536,843	19,251	1,443,639
Net income attributable to Non-Controlling Interests	(693,650)	(29,627)	(814,535)
Net Income (Loss) Attributable to Apollo Global Management, Inc.	843,193	(10,376)	629,104
Management fees
Revenues:
Revenues	1,575,814	1,345,252	1,154,925
Advisory and transaction fees, net
Revenues:
Revenues	123,644	112,278	117,624
Incentive fees
Revenues:
Revenues	8,725	30,718	31,431
Series A Preferred Stock
Other Income (Loss):
Preferred Stock Dividends	(17,531)	(17,531)	(13,538)
Series B Preferred Stock
Other Income (Loss):
Preferred Stock Dividends	(19,125)	(14,131)	0
Class A Common Stock
Other Income (Loss):
Net Income (Loss) Attributable to Apollo Global Management, Inc. Class A Common Stockholders	$ 806,537	$ (42,038)	$ 615,566
Net Income Per Share of Class A Common Stock:
Net Income (Loss) Available to Class A Common Stock – Basic (in USD per share)	$ 3.72	$ (0.30)	$ 3.12
Net Income (Loss) Available to Class A Common Stock – Diluted (in USD per share)	$ 3.71	$ (0.30)	$ 3.10
Weighted Average Number of Shares of Class A Common Stock Outstanding – Basic (in shares)	207,072,413	199,946,632	190,931,743
Weighted Average Number of Shares of Class A Common Stock Outstanding – Diluted (in shares)	208,748,524	199,946,632	192,581,693

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net Income	$ 1,536,843	$ 19,251	$ 1,443,639
Other Comprehensive Income, net of tax:
Currency translation adjustments, net of tax	(6,191)	(19,078)	13,953
Net gain (loss) from change in fair value of cash flow hedge instruments	(1,812)	105	105
Net gain (loss) on available-for-sale securities	88	(786)	36
Total Other Comprehensive Income (Loss), net of tax	(7,915)	(19,759)	14,094
Comprehensive Income (Loss)	1,528,928	(508)	1,457,733
Comprehensive Income attributable to Non-Controlling Interests	(686,154)	(12,218)	(821,715)
Comprehensive Income (Loss) Attributable to Apollo Global Management, Inc.	$ 842,774	$ (12,726)	$ 636,018

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Class A Common Stock	Common StockClass A Common Share	Common StockClass B Common Share	Common StockClass A Common Stock	Common StockClass B Common Stock	Common StockClass C Common Stock	Preferred StockSeries A Preferred Share	Preferred StockSeries B Preferred Share	Preferred StockSeries A Preferred Stock	Preferred StockSeries B Preferred Stock	Additional Paid in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Total Apollo Global Management, LLC. Shareholders’ Equity	Non- Controlling Interests in Consolidated Entities	Non- Controlling Interests in Apollo Operating Group
Balance, beginning of period (in shares) at Dec. 31, 2016			185,460,294	1
Balance, beginning of period at Dec. 31, 2016	$ 1,867,528							$ 0	$ 0			$ 1,830,025	$ (986,186)	$ (8,723)	$ 835,116	$ 90,063	$ 942,349
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dilution impact of issuance of Class A Common Stock	(344)											(344)			(344)
Equity issued in connection with Preferred shares offering	264,398							264,398							264,398
Capital increase related to equity-based compensation	72,174											72,174			72,174
Capital contributions	47,455															47,455
Dividends/Distributions	(807,341)							(13,538)				(366,700)			(380,238)	(16,327)	(410,776)
Payments related to issuances of Class A Common Stock for equity-based awards (in shares)			2,323,205
Payments related to issuances of Class A Common Stock for equity-based awards	(31,741)												(31,741)		(31,741)
Repurchase of Class A Common Stock (in shares)		(233,248)	(233,248)
Repurchase of Class A Common Stock	(6,903)	$ (6,900)										(6,903)			(6,903)
Exchange of AOG Units for Class A Common Stock (in shares)			7,717,418
Exchange of AOG Units for Class A Common Stock	11,936											51,545			51,545		(39,609)
Net Income	1,443,639							13,538					615,566		629,104	8,891	805,644
Currency translation adjustments, net of tax	13,953													6,579	6,579	10,004	(2,630)
Net gain (loss) from change in fair value of cash flow hedge instruments	105													50	50		55
Net gain (loss) on available-for-sale securities	36													285	285		(249)
Balance, end of period (in shares) at Dec. 31, 2017			195,267,669	1
Balance, end of period at Dec. 31, 2017	2,897,796							264,398	0			1,579,797	(379,460)	(1,809)	1,462,926	140,086	1,294,784
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dilution impact of issuance of Class A Common Stock	113											113			113
Equity issued in connection with Preferred shares offering	289,815								289,815	$ 0					289,815
Capital increase related to equity-based compensation	147,537											147,537			147,537
Capital contributions	146,465															146,465
Dividends/Distributions	(911,314)							(17,531)	(14,131)			(406,863)			(438,525)	(31,434)	(441,355)
Payments related to issuances of Class A Common Stock for equity-based awards (in shares)			3,440,447
Payments related to issuances of Class A Common Stock for equity-based awards	(14,922)											28,740	(43,662)		(14,922)
Repurchase of Class A Common Stock (in shares)		(2,701,876)	(2,701,876)
Repurchase of Class A Common Stock	(90,908)	$ (55,400)										(90,908)			(90,908)
Exchange of AOG Units for Class A Common Stock (in shares)			5,394,260
Exchange of AOG Units for Class A Common Stock	7,126											41,036			41,036		(33,910)
Net Income	19,251							17,531	14,131				(42,038)		(10,376)	31,648	(2,021)
Currency translation adjustments, net of tax	(19,078)													(2,010)	(2,010)	(15,243)	(1,825)
Net gain (loss) from change in fair value of cash flow hedge instruments	105													52	52		53
Net gain (loss) on available-for-sale securities	(786)													(392)	(392)		(394)
Balance, end of period (in shares) at Dec. 31, 2018			201,400,500	1			0
Balance, end of period at Dec. 31, 2018	2,451,840							264,398	289,815	0	$ 0	1,299,418	(473,276)	(4,159)	1,376,196	271,522	804,122
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dilution impact of issuance of Class A Common Stock	24											24			24
Capital increase related to equity-based compensation	146,718											146,718			146,718
Capital contributions	1,081															1,081
Dividends/Distributions	(951,865)							(13,148)	(14,344)	(4,383)	(4,781)	(158,576)	(276,698)		(471,930)	(15,260)	(464,675)
Payments related to issuances of Class A Common Stock for equity-based awards (in shares)			2,737,557		341,111
Payments related to issuances of Class A Common Stock for equity-based awards	(45,426)											11,137	(56,563)		(45,426)
Repurchase of Class A Common Stock (in shares)		(3,453,901)	(3,719,014)
Repurchase of Class A Common Stock	(110,726)	$ (102,400)										(110,726)			(110,726)
Exchange of AOG Units for Class A Common Stock (in shares)			21,984,253		250,000
Exchange of AOG Units for Class A Common Stock	17,553											114,592			114,592		(97,039)
Net Income	1,536,843							13,148	14,344	4,383	4,781		806,537		843,193	30,504	663,146
Currency translation adjustments, net of tax	(6,191)													442	442	(5,943)	(690)
Net gain (loss) from change in fair value of cash flow hedge instruments	(1,812)													(899)	(899)		(913)
Net gain (loss) on available-for-sale securities	88													38	38		50
Reclassifications resulting from the Conversion (in shares)			(222,403,296)	(1)	222,403,296	1	1
Reclassifications resulting from the Conversion								(264,398)	(289,815)	264,398	289,815
Balance, end of period (in shares) at Dec. 31, 2019					222,994,407	1	1
Balance, end of period at Dec. 31, 2019	$ 3,038,127							$ 0	$ 0	$ 264,398	$ 289,815	$ 1,302,587	$ 0	$ (4,578)	$ 1,852,222	$ 281,904	$ 904,001

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities:
Net Income	$ 1,536,843	$ 19,251	$ 1,443,639
Adjustments to reconcile net income to net cash provided by operating activities:
Equity-based compensation	189,648	173,228	91,450
Depreciation and amortization	15,758	15,233	18,379
Unrealized (gains) losses from investment activities	(135,967)	191,896	(99,376)
Principal investment income	(166,527)	(5,122)	(161,630)
Performance allocations	(1,057,139)	400,305	(1,306,193)
Change in fair value of contingent obligations	43,082	(11,166)	9,916
Loss (gain) from change in tax receivable agreement liability	50,307	(35,405)	(200,240)
Deferred taxes, net	(145,432)	79,188	314,127
Net loss related to cash flow hedge instruments	(1,974)	0	0
Non-cash lease expense	43,623	0	0
Other non-cash amounts included in net income, net	(22,260)	(18,363)	(42)
Cash flows due to changes in operating assets and liabilities:
Incentive fees receivable	4,378	660	5,674
Due from related parties	(49,670)	(108,684)	(23,184)
Accounts payable and accrued expenses	23,486	2,005	11,408
Accrued compensation and benefits	(9,190)	11,109	9,720
Deferred revenue	(17,281)	(13,680)	(43,378)
Due to related parties	4,234	(5,668)	(6,949)
Profit sharing payable	268,501	(224,796)	215,809
Lease liability	(31,570)	0	0
Other assets and other liabilities, net	(19,002)	3,677	(16,543)
Cash distributions of earnings from principal investments	77,981	66,860	65,448
Cash distributions of earnings from performance allocations	517,016	397,432	650,457
Satisfaction of contingent obligations	(5,055)	(6,947)	(23,597)
Apollo Fund and VIE related:
Purchases of investments	(15,048)	(104,786)	(12,711)
Net Cash Provided by Operating Activities	1,082,694	814,259	859,852
Cash Flows from Investing Activities:
Purchases of fixed assets	(39,495)	(14,741)	(8,529)
Proceeds from sale of investments	3,742	49,239	0
Purchase of investments	(15,048)	(104,786)	(12,711)
Purchase of U.S. Treasury securities	(541,530)	(449,865)	(363,812)
Proceeds from maturities of U.S. Treasury securities	390,336	423,342	0
Cash contributions to equity method investments	(186,985)	(268,933)	(153,309)
Cash distributions from equity method investments	127,029	121,555	117,577
Issuance of related party loans	(2,025)	(3,295)	(6,114)
Repayment of related party loans	0	0	17,700
Other investing activities	4	224	(8,621)
Net Cash Used in Investing Activities	(263,972)	(247,260)	(417,819)
Cash Flows from Financing Activities:
Principal repayments of debt	(15,317)	(300,000)	0
Issuance of Preferred Stock, net of issuance costs	0	289,815	264,398
Dividends to Preferred Stockholders	(36,656)	(31,662)	(13,538)
Issuance of debt	1,323,885	303,267	0
Satisfaction of tax receivable agreement	(37,234)	(50,267)	(17,895)
Repurchase of Class A Common Stock	(110,726)	(90,908)	(18,463)
Payments related to deliveries of Class A Common Stock for RSUs	(56,563)	(43,662)	(31,741)
Dividends paid	(435,274)	(406,863)	(366,700)
Distributions paid to Non-Controlling Interests in Apollo Operating Group	(464,675)	(441,355)	(410,776)
Other financing activities	(22,558)	(9,637)	(3,471)
Apollo Fund and VIE related:
Principal repayment of debt	(15,317)	(300,000)	0
Net Cash Provided by (Used in) Financing Activities	139,713	(752,184)	(453,635)
Net Increase in Cash and Cash Equivalents, Restricted Cash and Cash Held at Consolidated Variable Interest Entities	958,435	(185,185)	(11,602)
Cash and Cash Equivalents, Restricted Cash and Cash Held at Consolidated Variable Interest Entities, Beginning of Period	662,875	848,060	859,662
Cash and Cash Equivalents, Restricted Cash and Cash Held at Consolidated Variable Interest Entities, End of Period	1,621,310	662,875	848,060
Supplemental Disclosure of Cash Flow Information:
Interest paid	80,869	55,135	57,310
Interest paid by consolidated variable interest entities	15,238	16,553	13,207
Income taxes paid	42,840	10,220	13,624
Supplemental Disclosure of Non-Cash Investing Activities:
Non-cash distributions from principal investments	(1,099)	(26,465)	(52,683)
Non-cash purchases of other investments, at fair value	(2,449)	194,003	51,248
Non-cash sales of other investments, at fair value	0	(48,587)	0
Acquisition of Goodwill	5,059	0	0
Supplemental Disclosure of Non-Cash Financing Activities:
Capital increases related to equity-based compensation	146,718	147,537	72,174
Issuance of restricted shares	11,137	28,740	0
Other non-cash financing activities	24	113	(345)
Adjustments related to exchange of Apollo Operating Group units:
Deferred tax assets	171,814	45,017	56,908
Due to related parties	(41,954)	(37,891)	(44,972)
Additional paid in capital	(17,553)	(7,126)	(11,936)
Non-Controlling Interest in Apollo Operating Group	97,039	33,910	39,609
Reconciliation of Cash and Cash Equivalents, Restricted Cash and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities to the Consolidated Statements of Financial Condition:
Total Cash and Cash Equivalents, Restricted Cash and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities	662,875	662,875	859,662
Consolidated Variable Interest Entities
Apollo Fund and VIE related:
Net realized and unrealized gains from investing activities and debt	(39,429)	(40,850)	(9,773)
Purchases of investments	(443,393)	(479,674)	(709,928)
Proceeds from sale of investments	431,883	467,367	562,150
Changes in other assets and other liabilities, net	19,843	(63,597)	62,508
Cash Flows from Investing Activities:
Purchase of investments	(443,393)	(479,674)	(709,928)
Cash Flows from Financing Activities:
Principal repayments of debt	(373,554)	(92,153)	(443,082)
Issuance of debt	378,872	0	553,034
Apollo Fund and VIE related:
Principal repayment of debt	(373,554)	(92,153)	(443,082)
Distributions paid to Non-Controlling Interests in consolidated entities	(11,347)	(25,948)	(10,776)
Contributions from Non-Controlling Interests in consolidated entities	$ 860	$ 147,189	$ 45,375

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Apollo Global Management, Inc. (“AGM Inc.”, together with its consolidated subsidiaries, the “Company” or “Apollo”) is a global alternative investment manager whose predecessor was founded in 1990. Its primary business is to raise, invest and manage credit, private equity and real assets funds as well as strategic investment accounts, on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. For these investment management services, Apollo receives management fees generally related to the amount of assets managed, transaction and advisory fees, incentive fees and performance allocations related to the performance of the respective funds that it manages. Apollo has three primary business segments: • Credit —primarily invests in non-control corporate and structured debt instruments including performing, stressed and distressed investments across the capital structure; • Private equity —primarily invests in control equity and related debt instruments, convertible securities and distressed debt investments; and • Real assets —primarily invests in (i) real estate equity and infrastructure equity for the acquisition and recapitalization of real estate and infrastructure assets, portfolios, platforms and operating companies, (ii) real estate and infrastructure debt including first mortgage and mezzanine loans, preferred equity and commercial mortgage backed securities and (iii) European performing and non-performing loans, and unsecured consumer loans. Organization of the Company Effective September 5, 2019, Apollo Global Management, Inc. converted from a Delaware limited liability company named Apollo Global Management, LLC to a Delaware corporation named Apollo Global Management, Inc. (the “Conversion”). The Company was formed as a Delaware limited liability company on July 3, 2007, and, until the Conversion, was managed by AGM Management, LLC, which is indirectly wholly-owned and controlled by Leon Black, Joshua Harris and Marc Rowan, its Managing Partners. As of December 31, 2019 , the Company owned, through six intermediate holding companies that include APO Corp., a Delaware corporation that is a domestic corporation for U.S. federal income tax purposes, APO Asset Co., LLC, a Delaware limited liability company that is treated as a corporation for U.S. federal income tax purposes, APO (FC), LLC, an Anguilla limited liability company that is disregarded entity for U.S. federal income tax purposes, APO (FC II), LLC, an Anguilla limited liability company that is disregarded entity for U.S. federal income tax purposes, APO UK (FC), Limited, a United Kingdom incorporated company that is treated as a corporation for U.S. federal income tax purposes, and APO (FC III), LLC, a Cayman Islands limited liability company that is a disregarded entity for US Federal Income tax purposes (collectively, the “Intermediate Holding Companies”), 55.3% of the economic interests of, and operated and controlled all of the businesses and affairs of, the Apollo Operating Group through its wholly owned subsidiaries. AP Professional Holdings, L.P., a Cayman Islands exempted limited partnership (“Holdings”), is the entity through which the Managing Partners and certain of the Company’s other partners (the “Contributing Partners”) indirectly beneficially own interests in each of the entities that comprise the Apollo Operating Group. As of December 31, 2019 , Holdings owned the remaining 44.7% of the economic interests in the Apollo Operating Group. The Company consolidates the financial results of the Apollo Operating Group and its consolidated subsidiaries. Holdings’ ownership interest in the Apollo Operating Group is reflected as a Non-Controlling Interest in the accompanying consolidated financial statements. Conversion to a Corporation On September 4, 2019, AGM LLC notified the New York Stock Exchange (the “NYSE”) that a Certificate of Conversion (the “Certificate of Conversion”) had been filed with the Secretary of State of the State of Delaware. Effective at 12:01 a.m. (Eastern Time) on September 5, 2019 (the “Effective Time”), (i) each Class A share (“Class A Share”) representing limited liability company interests of AGM LLC outstanding immediately prior to the Effective Time converted into one issued and outstanding, fully paid and nonassessable share of Class A common stock, $0.00001 par value per share, of the Company (“Class A Common Stock”), (ii) the Class B share (the “Class B Share”) representing limited liability company interests of AGM LLC outstanding immediately prior to the Effective Time converted into one issued and outstanding, fully paid and nonassessable share of Class B common stock, $0.00001 par value per share, of the Company (the “Class B Common Stock”), (iii) each Series A preferred share (“Series A Preferred Share”) representing limited liability company interests of AGM LLC outstanding immediately prior to the Effective Time converted into one issued and outstanding, fully paid and nonassessable share of Series A preferred stock, having a liquidation preference of $25.00 per share, of the Company (“Series A Preferred Stock”), (iv) each Series B preferred share (“Series B Preferred Share”) representing limited liability company interests of AGM LLC outstanding immediately prior to the Effective Time converted into one issued and outstanding, fully paid and nonassessable share of Series B preferred stock, having a liquidation preference of $25.00 per share, of the Company (“Series B Preferred Stock”) and (v) AGM Management, LLC, a Delaware limited liability company (the “Former Manager”), was granted one issued and outstanding, fully paid and nonassessable share of Class C common stock, $0.00001 par value per share, of the Company (“Class C Common Stock”), which bestows to its holder certain management rights over the Company. References to the Class A Common Stock, the Class B Common Stock, the Series A Preferred Stock and the Series B Preferred Stock for periods prior to the Conversion means Class A Shares, Class B Share, Series A Preferred Share and Series B Preferred Share of AGM LLC, respectively. Prior to the Effective Time, the Former Manager held all such management powers over the business and affairs of AGM LLC pursuant to the Third Amended and Restated Limited Liability Company Agreement of AGM LLC, dated as of March 19, 2018.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company, its wholly-owned or majority-owned subsidiaries, the consolidated entities which are considered to be variable interest entities (“VIEs”) and for which the Company is considered the primary beneficiary, and certain entities which are not considered VIEs but which the Company controls through a majority voting interest. Intercompany accounts and transactions, if any, have been eliminated upon consolidation. Certain reclassifications, when applicable, have been made to the prior periods’ consolidated financial statements and notes to conform to the current period’s presentation and are disclosed accordingly. Consolidation The types of entities with which Apollo is involved generally include subsidiaries (e.g., general partners and management companies related to the funds the Company manages), entities that have all the attributes of an investment company (e.g., funds) and securitization vehicles (e.g., CLOs). Each of these entities is assessed for consolidation on a case by case basis depending on the specific facts and circumstances surrounding that entity. Pursuant to the consolidation guidance, the Company first evaluates whether it holds a variable interest in an entity. Fees that are customary and commensurate with the level of services provided, and where the Company does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered a variable interest. Apollo factors in all economic interests including proportionate interests through related parties, to determine if such interests are considered a variable interest. As Apollo’s interests in many of these entities are solely through market rate fees and/or insignificant indirect interests through related parties, Apollo is not considered to have a variable interest in many of these entities and no further consolidation analysis is performed. For entities where the Company has determined that it does hold a variable interest, the Company performs an assessment to determine whether each of those entities qualify as a VIE. The determination as to whether an entity qualifies as a VIE depends on the facts and circumstances surrounding each entity and therefore certain of Apollo’s funds may qualify as VIEs under the variable interest model whereas others may qualify as voting interest entities (“VOEs”) under the voting interest model. The granting of substantive kick-out rights is a key consideration in determining whether a limited partnership or similar entity is a VIE and whether or not that entity should be consolidated. Under the variable interest model, Apollo consolidates those entities where it is determined that the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it has a controlling financial interest in the VIE, which is defined as possessing both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. When Apollo alone is not considered to have a controlling financial interest in the VIE but Apollo and its related parties under common control in the aggregate have a controlling financial interest in the VIE, Apollo will be deemed the primary beneficiary if it is the party that is most closely associated with the VIE. When Apollo and its related parties not under common control in the aggregate have a controlling financial interest in the VIE, Apollo would be deemed to be the primary beneficiary if substantially all the activities of the entity are performed on behalf of Apollo. Apollo determines whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion continuously. Investments and redemptions (either by Apollo, related parties of Apollo or third parties) or amendments to the governing documents of the respective entity may affect an entity’s status as a VIE or the determination of the primary beneficiary. Assets and liabilities of the consolidated VIEs are primarily shown in separate sections within the consolidated statements of financial condition. Changes in the fair value of the consolidated VIEs’ assets and liabilities and related interest, dividend and other income and expenses are presented within net gains from investment activities of consolidated variable interest entities in the consolidated statements of operations. The portion attributable to Non-Controlling Interests is reported within net income attributable to Non-Controlling Interests in the consolidated statements of operations. For additional disclosures regarding VIEs, see note 6 . Under the voting interest model, Apollo consolidates those entities it controls through a majority voting interest. Apollo does not consolidate those VOEs in which substantive kick-out rights have been granted to the unrelated investors to either dissolve the fund or remove the general partner. Cash and Cash Equivalents Apollo considers all highly liquid short-term investments with original maturities of three months or less when purchased to be cash equivalents. Cash and cash equivalents include money market funds and U.S. Treasury securities with original maturities of three months or less when purchased. Interest income from cash and cash equivalents is recorded in interest income in the consolidated statements of operations. The carrying values of the money market funds and U.S. Treasury securities were $253.5 million and $231.8 million as of December 31, 2019 and 2018 , respectively, which approximate their fair values due to their short-term nature and are categorized as Level I within the fair value hierarchy. Substantially all of the Company’s cash on deposit is in interest bearing accounts with major financial institutions and exceed insured limits. Restricted Cash Restricted cash includes cash held in reserve accounts used to make required payments in respect of the 2039 Senior Secured Guaranteed Notes. Restricted cash also includes cash deposited at a bank, which is pledged as collateral in connection with leased premises. U.S. Treasury securities, at fair value U.S. Treasury securities, at fair value includes U.S. Treasury bills with original maturities greater than three months when purchased. These securities are recorded at fair value. Interest income on such securities is separately presented from the overall change in fair value and is recognized in interest income in the consolidated statements of operations. Any remaining change in fair value of such securities, that is not recognized as interest income, is recognized in net gains (losses) from investment activities in the consolidated statements of operations. Fair Value of Financial Instruments Apollo has elected the fair value option for the Company’s investment in Athene Holding, the assets and liabilities of certain of its consolidated VIEs (including CLOs), the Company’s U.S. Treasury securities with original maturities greater than three months when purchased, and certain of the Company’s other investments. Such election is irrevocable and is applied to financial instruments on an individual basis at initial recognition. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. Except for the Company’s debt obligations, financial instruments are generally recorded at fair value or at amounts whose carrying values approximate fair value. The actual realized gains or losses will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may ultimately differ significantly from the assumptions on which the valuations were based. Fair Value Hierarchy U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I - Quoted prices are available in active markets for identical financial instruments as of the reporting date. The types of financial instruments included in Level I include listed equities and debt. The Company does not adjust the quoted price for these financial instruments, even in situations where the Company holds a large position and the sale of such position would likely deviate from the quoted price. Level II - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Financial instruments that are generally included in this category include corporate bonds and loans, less liquid and restricted equity securities and certain over-the-counter derivatives where the fair value is based on observable inputs. These financial instruments exhibit higher levels of liquid market observability as compared to Level III financial instruments. Level III - Pricing inputs are unobservable for the financial instrument and includes situations where there is little observable market activity for the financial instrument. The inputs into the determination of fair value may require significant management judgment or estimation. Financial instruments that are included in this category generally include general and limited partner interests in corporate private equity and real assets funds, opportunistic credit funds, distressed debt and non-investment grade residual interests in securitizations and CDOs and CLOs where the fair value is based on observable inputs as well as unobservable inputs. When a security is valued based on broker quotes, the Company subjects those quotes to various criteria in making the determination as to whether a particular financial instrument would qualify for classification as Level II or Level III. These criteria include, but are not limited to, the number and quality of the broker quotes, the standard deviations of the observed broker quotes, and the percentage deviation from independent pricing services. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, a financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument when the fair value is based on unobservable inputs. Equity Method Investments For investments in entities over which the Company exercises significant influence but which do not meet the requirements for consolidation and for which the Company has not elected the fair value option, the Company uses the equity method of accounting, whereby the Company records its share of the underlying income or loss of such entities. The Company’s share of the underlying net income or loss of such entities is recorded in principal investment income in the consolidated statements of operations. The carrying amounts of equity method investments are recorded in investments in the consolidated statements of financial condition. As the underlying entities that the Company manages and invests in are, for U.S. GAAP purposes, primarily investment companies which reflect their investments at estimated fair value, the carrying value of the Company’s equity method investments in such entities approximates fair value. Financial Instruments held by Consolidated VIEs The Company measures both the financial assets and financial liabilities of the consolidated CLOs in its consolidated financial statements using the fair value of the financial assets of the consolidated CLOs, which are more observable than the fair value of the financial liabilities of the consolidated CLOs. As a result, the financial assets of the consolidated CLOs are measured at fair value and the financial liabilities are measured in consolidation as: (i) the sum of the fair value of the financial assets and the carrying value of any non-financial assets that are incidental to the operations of the CLOs less (ii) the sum of the fair value of any beneficial interests retained by the Company (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services. The resulting amount is allocated to the individual financial liabilities (other than the beneficial interest retained by the Company) using a reasonable and consistent methodology. Under the measurement alternative, net income attributable to Apollo Global Management, Inc. reflects the Company’s own economic interests in the consolidated CLOs including (i) changes in the fair value of the beneficial interests retained by the Company and (ii) beneficial interests that represent compensation for collateral management services. The consolidated VIEs hold investments that could be traded over-the-counter. Investments in securities that are traded on a securities exchange or comparable over-the-counter quotation systems are valued based on the last reported sale price at that date. If no sales of such investments are reported on such date, and in the case of over-the-counter securities or other investments for which the last sale date is not available, valuations are based on independent market quotations obtained from market participants, recognized pricing services or other sources deemed relevant, and the prices are based on the average of the “bid” and “ask” prices, or at ascertainable prices at the close of business on such day. Market quotations are generally based on valuation pricing models or market transactions of similar securities adjusted for security-specific factors such as relative capital structure priority and interest and yield risks, among other factors. When market quotations are not available, a model based approach is used to determine fair value. Leases The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in lease assets and lease liabilities in the consolidated statements of financial condition. The Company does not have any finance leases. On January 1, 2019, the Company adopted new lease guidance issued by the FASB to increase transparency and comparability among organizations by requiring the recognition of right-of-use lease assets and lease liabilities on the statements of financial condition. The most significant among the changes in the standard is the recognition of right-of-use lease assets and lease liabilities by lessees for those leases classified as operating leases. Under the standard, disclosures are required to meet the objectives of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. Lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease assets and lease liabilities are recognized at the date of commencement of the lease (the “commencement date”) based on the present value of lease payments over the lease term. As the rate implicit in most of the Company’s leases are not readily determinable, the Company uses its derived incremental borrowing rate based on information available at commencement date in determining the present value of lease payments. The determination of an appropriate incremental borrowing rate requires judgment. The Company determined its incremental borrowing rate based on consideration of market conditions, the Company’s overall creditworthiness, and recent debt and preferred equity issuances. The Company adjusts its rate accordingly based on the term of the leases. Certain lease agreements contain lease escalation or lease incentive provisions based on the terms of the arrangement with the landlord. Lease escalations and lease incentives, if any, are recognized on a straight-line basis over the lease term. The Company’s lease agreements may also include options to extend or terminate the lease. Options to extend would not be included in the lease term until it is reasonably certain that the Company will exercise that option. Lease expense is recognized on a straight-line basis over the lease term and is recorded within general, administrative and other in the consolidated statements of operations. The Company has lease agreements with non-lease components (e.g. estimated operating expenses associate with the lease), which are accounted for separately. The Company adopted the standard under the simplified transition method. The simplified transition method allows companies to forgo the comparative reporting requirements initially required under the modified retrospective transition approach and apply the new guidance prospectively. The Company also elected to use the practical expedients available under the standard whereby the Company would not need to reassess whether an arrangement is or contains a lease, lease classification, and the accounting for initial direct costs. The adoption of the standard had an impact on the Company’s consolidated statements of financial condition but did not have an impact on the Company’s consolidated statements of operations, consolidated statements of cash flows or beginning accumulated deficit. Refer to the consolidated statements of financial condition and note 9 for further information on the impact of the adoption of the standard on the Company’s consolidated financial statements. Due from/to Related Parties Due from/to related parties includes Apollo’s existing partners, employees, certain former employees, portfolio companies of the funds and nonconsolidated credit, private equity and real assets funds. See note 15 for further disclosure of transactions with related parties. Other Assets Other assets primarily includes fixed assets, net, deferred equity-based compensation, prepaid expenses and intangible assets. During 2019, the presentation of intangible assets, net was combined with other assets on the consolidated statements of financial condition and the prior period was recast to conform to the current presentation. Finite-lived intangible assets such as contractual rights to earn future management fees and incentive fees acquired in business combinations are amortized over their estimated useful lives, which are periodically re-evaluated for impairment or when circumstances indicate an impairment may have occurred. Apollo amortizes its identifiable finite-lived intangible assets using a method of amortization reflecting the pattern in which the economic benefits of the finite-lived intangible assets are consumed or otherwise used up. If that pattern cannot be reliably determined, Apollo uses the straight-line method of amortization. Fixed assets consist primarily of leasehold improvements, furniture, fixtures, equipment, and computer hardware and are recorded at cost, net of accumulated depreciation and amortization. Depreciation and amortization is calculated using the straight-line method over the assets’ estimated useful lives and in the case of leasehold improvements the lesser of the useful life or the term of the lease. Expenditures for repairs and maintenance are charged to expense when incurred. The Company evaluates long-lived assets for impairment periodically and whenever events or changes in circumstances indicate the carrying amounts of the assets may be impaired. Business Combinations The Company accounts for business combinations using the acquisition method of accounting, under which the purchase price of the acquisition is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. Contingent consideration obligations that are elements of the consideration transferred are recognized as of the acquisition date as part of the fair value transferred in exchange for the acquired business. Acquisition-related costs incurred in connection with a business combination are expensed as incurred. Goodwill Goodwill represents the excess of cost over the fair value of identifiable net assets of an acquired business. Goodwill and other indefinite lived intangible assets are tested annually for impairment or more frequently if circumstances indicate impairment may have occurred. The Company performed its annual goodwill impairment test as of October 1, 2019 and 2018 and did not identify any impairment. Deferred Revenue Apollo records deferred revenue, which is a type of contract liability, when consideration is received in advance of management services provided. Apollo also earns management fees subject to the Management Fee Offset (described below). When advisory and transaction fees are earned by the management company, the Management Fee Offset reduces the management fee obligation of the fund. When the Company receives cash for advisory and transaction fees, a certain percentage of such advisory and/or transaction fees, as applicable, is allocated as a credit to reduce future management fees, otherwise payable by such fund. Such credit is recorded as deferred revenue in the consolidated statements of financial condition. A portion of any excess advisory and transaction fees may be required to be returned to the limited partners of certain funds upon such fund’s liquidation. As the management fees earned by the Company are presented on a gross basis, any Management Fee Offsets calculated are presented as a reduction to advisory and transaction fees in the consolidated statements of operations. Additionally, Apollo earns advisory fees pursuant to the terms of the advisory agreements with certain of the portfolio companies that are owned by the funds Apollo manages. When Apollo receives a payment from a portfolio company that exceeds the advisory fees earned at that point in time, the excess payment is recorded as deferred revenue in the consolidated statements of financial condition. The advisory agreements with the portfolio companies vary in duration and the associated fees are received monthly, quarterly or annually. Deferred revenue is reversed and recognized as revenue over the period that the agreed upon services are performed. There was $96.6 million of revenue recognized during the year ended December 31, 2019 that was previously deferred as of January 1, 2019. Under the terms of the funds’ partnership agreements, Apollo is normally required to bear organizational expenses over a set dollar amount and placement fees or costs in connection with the offering and sale of interests in the funds it manages to investors. The placement fees are payable to placement agents, who are independent third parties that assist in identifying potential investors, securing commitments to invest from such potential investors, preparing or revising offering and marketing materials, developing strategies for attempting to secure investments by potential investors and/or providing feedback and insight regarding issues and concerns of potential investors, when a limited partner either commits or funds a commitment to a fund. In certain instances the placement fees are paid over a period of time. Based on the management agreements with the funds, Apollo considers placement fees and organizational costs paid in determining if cash has been received in excess of the management fees earned. Placement fees and organizational costs are normally the obligation of Apollo but can be paid for by the funds. When these costs are paid by the fund, the resulting obligations are included within deferred revenue. The deferred revenue balance will also be reduced during future periods when management fees are earned but not paid. Debt Issuance Costs Debt issuance costs consist of costs incurred in obtaining financing and are amortized over the term of the financing using the effective interest method. These costs are generally recorded as a direct deduction from the carrying amount of the related debt liability on the consolidated statements of financial condition. Foreign Currency The Company may, from time to time, hold foreign currency denominated assets and liabilities. The functional currency of the Company’s international subsidiaries is generally the U.S. Dollar, as their operations are considered an extension of U.S. parent operations. Nonmonetary assets and liabilities of the Company’s international subsidiaries are remeasured into the functional currency using historical exchange rates specific to each asset and liability, the exchange rates prevailing at the end of each reporting period is used for all others. The results of the Company’s foreign operations are normally remeasured using an average exchange rate for the respective reporting period. Currency remeasurement adjustments are included within other income, net in the consolidated statements of operations. Gains and losses on the settlement of foreign currency transactions are also included within other income, net in the consolidated statements of operations. Foreign currency denominated assets and liabilities are translated into the reporting currency using the exchange rates prevailing at the end of each reporting period. The results of the Company’s foreign operations are normally translated using an average exchange rate for the respective reporting period. Currency translation adjustments are included within other comprehensive income (loss), net of tax within the consolidated statements of comprehensive income. Revenues The Company’s revenues are reported in four separate categories that include (i) management fees; (ii) advisory and transaction fees, net; (iii) investment income, which is comprised of performance allocations and principal investment income; and (iv) incentive fees. On January 1, 2018, the Company adopted new revenue guidance issued by the Financial Accounting Standards Board (“FASB”) for recognizing revenue from contracts with customers. The new revenue guidance requires that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services (i.e., the transaction price). When determining the transaction price under the new revenue guidance, an entity may recognize variable consideration only to the extent that it is probable to not be significantly reversed. The new revenue guidance also requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The Company has concluded that its management fees, advisory and transaction fees, and incentive fees are within the scope of the new revenue guidance. For incentive fees, the new revenue guidance delays the timing of certain revenues compared to the prior accounting treatment. These amounts were previously recognized in carried interest income in the consolidated statements of operations and are now recognized within a separate line, incentive fees. Effective January 1, 2018, the Company implemented a change in accounting principle for performance allocations to be accounted for under guidance applicable to equity method investments, and therefore not within the scope of the new revenue guidance. The accounting change does not change the timing or amount of revenue recognized related to performance allocation arrangements. These amounts were previously recognized within carried interest income in the consolidated statements of operations and carried interest receivable within the consolidated statements of financial condition. As a result of the change in accounting principle, the Company recognizes performance allocations within investment income along with the related principal investment income (as further described below) in the consolidated statements of operations and within the investments line in the consolidated statements of financial condition. The Company applied this change in accounting principle on a full retrospective basis. The new revenue guidance was adopted on a modified retrospective basis. The adoption of the new revenue guidance did not have a material impact on the Company. In connection with the adoption of the new revenue guidance, the Company recorded a cumulative effect adjustment to total shareholders’ equity as of January 1, 2018 in the amount of $19.4 million net of taxes. Prior periods have not been recast to reflect the new revenue guidance. Accordingly, prior periods reflect recognition under the previous guidance whereby incentive fees were recorded on an assumed liquidation basis at each reporting date. Refer to disclosures below for additional information on each of the Company’s revenue streams. Management Fees Management fees are recognized over time during the periods in which the related services are performed in accordance with the contractual terms of the related agreement. Management fees are generally based on (1) a percentage of the capital committed during the commitment period, and thereafter based on the remaining invested capital of unrealized investments, or (2) net asset value, gross assets or as otherwise defined in the respective agreements. Included in management fees are certain expense reimbursements where the Company is considered the principal under the agreements and is required to record the expense and related reimbursement revenue on a gross basis. Advisory and Transaction Fees, Net Advisory fees, including management consulting fees and directors’ fees, are generally recognized over time as the underlying services are provided in accordance with the contractual terms of the related agreement. The Company receives such fees in exchange for ongoing management consulting services provided to portfolio companies of funds it manages. Transaction fees, including structuring fees and arranging fees are generally recognized at a point in time when the underlying services rendered are complete. The amounts due from fund portfolio companies are recorded in due from related parties, which is discussed further in note 15 . Under the terms of the limited partnership agreements for certain funds, the management fee payable by the funds may be subject to a reduction based on a certain percentage of such advisory and transaction fees, net of applicable broken deal costs (“Management Fee Offset”). Advisory and transaction fees are presented net of the Management Fee Offset in the consolidated statements of operations. Underwriting fees, which are also included within advisory and transaction fees, net, include gains, losses and fees, arising from securities offerings in which one of the Company’s subsidiaries participates in the underwriter syndicate. Underwriting fees are recognized at a point in time when the underwriting is completed. Underwriting fees recognized but not received are recorded in other assets on the consolidated statements of financial condition. During the normal course of business, the Company incurs certain costs related to certain transactions that are not consummated (“broken

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The carrying value of goodwill was 93.9 million and 88.9 million as of December 31, 2019 and 2018 , respectively. Goodwill primarily relates to the 2007 Reorganization and the Company’s acquisition of Stone Tower Capital LLC and its related management companies (“Stone Tower”) in 2012. As of December 31, 2019 , there was, $69.8 million , $23.1 million and $1.0 million of goodwill related to the credit, private equity and real asset segments, respectively. As of December 31, 2018 , there was, $64.8 million , $23.1 million and $1.0 million of goodwill related to the credit, private equity and real asset segments, respectively. On December 12, 2019, the Company acquired a portion of PK AirFinance, an aircraft lending platform, from GE Capital’s Aviation Services unit, and Athene and third parties have acquired the related PK AirFinance’s existing portfolio of loans via a securitization. The purchase of the remaining portion of the PK AirFinance platform is deferred pending regulatory and other conditions and is expected to be completed in the first half of 2020. In connection with the acquisition, the Company has recognized goodwill of $5.0 million

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	INVESTMENTS The following table presents Apollo’s investments: As of As of Investments, at fair value $ 1,053,556 $ 900,959 Equity method investments 1,048,732 909,471 Performance allocations 1,507,571 912,182 Total Investments $ 3,609,859 $ 2,722,612 Investments, at Fair Value Investments, at fair value, consist of investments for which the fair value option has been elected and primarily include the Company’s investment in Athene Holding and investments in debt of unconsolidated CLOs. Changes in the fair value related to these investments are presented in net gains (losses) from investment activities except for certain investments for which the Company is entitled to receive performance allocations. For those investments, changes in fair value are presented in principal investment income. The Company’s equity investment in Athene Holding, for which the fair value option was elected, met the significance criteria as defined by the Securities and Exchange Commission (“SEC”) as of December 31, 2019 and 2018 . As such, the following tables present summarized financial information of Athene Holding: As of December 31, 2019 2018 (in millions) Statements of Financial Condition Investments $ 107,952 $ 89,340 Assets 146,875 125,505 Liabilities 132,734 117,229 Equity 14,141 8,276 For the Years Ended December 31, 2019 2018 2017 (in millions) Statements of Operations Revenues $ 16,258 $ 6,637 $ 8,788 Expenses 13,956 5,462 7,324 Income before income tax provision (benefit) 2,302 1,175 1,464 Income tax provision (benefit) 117 122 106 Net income $ 2,185 $ 1,053 $ 1,358 Net income attributable to non-controlling interests (13 ) — — Net income available to Athene shareholders 2,172 1,053 1,358 Preferred stock dividends (36 ) — — Net income available to Athene common shareholders $ 2,136 $ 1,053 $ 1,358 Net Gains (Losses) from Investment Activities The following table presents the realized and net change in unrealized gains (losses) reported in net gains (losses) from investment activities: For the Years Ended December 31, 2019 2018 2017 Realized gains on sales of investments, net $ 45 $ 67 $ 103 Net change in unrealized gains (losses) due to changes in fair value 138,109 (186,516 ) 95,001 Net gains (losses) from investment activities $ 138,154 $ (186,449 ) $ 95,104 Equity Method Investments Apollo’s equity method investments include its investments in the credit, private equity and real assets funds it manages, which are not consolidated, but in which the Company exerts significant influence. Apollo’s share of net income generated by these investments is recorded in principal investment income in the consolidated statements of operations. Equity method investments consisted of the following: Equity Held as of December 31, 2019 (4) December 31, 2018 (4) Credit (1) $ 318,054 $ 279,888 Private Equity (2) 632,540 534,818 Real Assets 98,138 94,765 Total equity method investments (3) $ 1,048,732 $ 909,471 (1) The equity method investment in AINV was $51.0 million and $53.9 million as of December 31, 2019 and 2018 , respectively. The value of the Company’s investment in AINV was $51.3 million and $36.7 million based on the quoted market price of AINV as of December 31, 2019 and 2018 , respectively. (2) The equity method investment in Fund VIII was $370.7 million and $356.6 million as of December 31, 2019 and 2018 , respectively, representing an ownership percentage of 2.2% and 2.2% as of December 31, 2019 and 2018 , respectively. (3) Certain funds invest across multiple segments. The presentation in the table above is based on the classification of the majority of such funds’ investments. (4) Some amounts included are a quarter in arrears. The tables below present summarized financial information of the Company’s equity method investments in aggregate: Credit Private Equity Real Assets Aggregate Totals As of As of As of As of Statement of Financial Condition 2019 (1) 2018 (1) 2019 (1) 2018 (1) 2019 (1) 2018 (1) 2019 (1) 2018 (1) Investments $ 34,361,782 $ 26,461,258 $ 32,517,599 $ 28,668,459 $ 12,248,343 $ 9,712,205 $ 79,127,724 $ 64,841,922 Assets 39,128,474 29,400,363 33,259,492 30,058,053 13,039,865 10,251,322 85,427,831 69,709,738 Liabilities 22,069,959 17,834,650 427,076 545,729 5,281,751 3,451,002 27,778,786 21,831,381 Equity 17,058,515 11,565,713 32,832,416 29,512,324 7,758,114 6,800,320 57,649,045 47,878,357 Credit Private Equity Real Assets Aggregate Totals For the Years Ended For the Years Ended For the Years Ended For the Years Ended Statement of Operations 2019 (1) 2018 (1) 2017 (1) 2019 (1) 2018 (1) 2017 (1) 2019 (1) 2018 (1) 2017 (1) 2019 (1) 2018 (1) 2017 (1) Revenues/Investment Income $ 1,974,306 $ 1,058,776 $ 833,059 $ 675,305 $ 738,738 $ 1,045,157 $ 509,963 $ 608,928 $ 903,675 $ 3,159,574 $ 2,406,442 $ 2,781,891 Expenses 1,969,329 1,184,462 484,593 680,331 640,504 401,596 362,454 320,187 190,783 3,012,114 2,145,153 1,076,972 Net Investment Income (Loss) 4,977 (125,686 ) 348,466 (5,026 ) 98,234 643,561 147,509 288,741 712,892 147,460 261,289 1,704,919 Net Realized and Unrealized Gain (Loss) 1,843,877 221,321 1,045,057 3,672,268 (3,303,225 ) 5,831,659 856,380 (48,559 ) (102,240 ) 6,372,525 (3,130,463 ) 6,774,476 Net Income (Loss) $ 1,848,854 $ 95,635 $ 1,393,523 $ 3,667,242 $ (3,204,991 ) $ 6,475,220 $ 1,003,889 $ 240,182 $ 610,652 $ 6,519,985 $ (2,869,174 ) $ 8,479,395 (1) Certain credit, private equity and real assets fund amounts are as of and for the twelve months ended September 30, 2019 , 2018 and 2017 and exclude amounts related to Athene Holding. Performance Allocations Performance allocations receivable recorded within investments in the consolidated statements of financial condition from credit, private equity and real assets funds consisted of the following: As of December 31, 2019 As of December 31, 2018 Credit $ 418,517 $ 241,896 Private Equity 822,531 520,892 Real Assets 266,523 149,394 Total performance allocations $ 1,507,571 $ 912,182 The table below provides a roll forward of the performance allocations balance: Credit Private Equity Real Assets Total Performance allocations, January 1, 2018 $ 193,294 $ 1,425,947 $ 209,689 $ 1,828,930 Change in fair value of funds 104,706 (448,932 ) (5,208 ) (349,434 ) Fund distributions to the Company (56,104 ) (456,123 ) (1) (55,087 ) (567,314 ) Performance allocations, December 31, 2018 $ 241,896 $ 520,892 $ 149,394 $ 912,182 Change in fair value of funds 265,402 726,700 120,303 1,112,405 Fund distributions to the Company (88,781 ) (425,061 ) (3,174 ) (517,016 ) Performance allocations, December 31, 2019 $ 418,517 $ 822,531 $ 266,523 $ 1,507,571 (1) Includes realized performance allocations of $169.9 million from AP Alternative Assets, L.P. (“AAA”), settled in the form of shares of Athene Holding. The change in fair value of funds excludes the reversal of previously realized performance allocations due to the general partner obligation to return previously distributed performance allocations, which is recorded in due to related parties in the consolidated statements of financial condition. See note 15 for further disclosure regarding the general partner obligation.

PROFIT SHARING PAYABLE

PROFIT SHARING PAYABLE	12 Months Ended
	Dec. 31, 2019
Profit Sharing Payable [Abstract]
PROFIT SHARING PAYABLE	PROFIT SHARING PAYABLE Profit sharing payable consisted of the following: As of December 31, 2019 As of December 31, 2018 Credit $ 314,125 $ 178,093 Private Equity 329,817 205,617 Real Assets 114,727 68,431 Total profit sharing payable $ 758,669 $ 452,141 The table below provides a roll forward of the profit sharing payable balance: Credit Private Equity Real Assets Total Profit sharing payable, January 1, 2018 $ 183,109 $ 485,242 $ 83,925 $ 752,276 Profit sharing expense 60,009 (94,390 ) 6,357 (28,024 ) Payments/other (1) (65,025 ) (185,235 ) (2) (21,851 ) (272,111 ) Profit sharing payable, December 31, 2018 $ 178,093 $ 205,617 $ 68,431 $ 452,141 Profit sharing expense 210,188 316,534 51,920 578,642 Payments/other (74,156 ) (192,334 ) (5,624 ) (272,114 ) Profit sharing payable, December 31, 2019 $ 314,125 $ 329,817 $ 114,727 $ 758,669 (1) Includes $10.6 million associated with the adoption of revenue recognition accounting guidance, as discussed in note 2. (2) Includes $46.6 million associated with profit sharing expense related to AAA that was settled in the form of shares of Athene Holding. Profit sharing expense includes (i) changes in amounts payable to employees and former employees entitled to a share of performance revenues in Apollo’s funds and (ii) changes to the fair value of the contingent consideration obligations recognized in connection with certain Apollo acquisitions. Profit sharing expense excludes the potential return of profit sharing distributions that would be due if certain funds were liquidated, which is recorded in due from related parties in the consolidated statements of financial condition. See note 15 for further disclosure regarding the potential return of profit sharing distributions. As discussed in note 2 , under certain profit sharing arrangements, the Company requires that a portion of certain of the performance revenues distributed to its employees be used to purchase restricted shares of Class A Common Stock issued under its Equity Plan. Prior to distribution of the performance revenues, the Company records the value of the equity-based awards expected to be granted in other assets and other liabilities within the consolidated statements of financial condition. See note 8 for further disclosure regarding deferred equity-based compensation.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES As described in note 2 , the Company consolidates entities that are VIEs for which the Company has been designated as the primary beneficiary. There is no recourse to the Company for the consolidated VIEs’ liabilities. Consolidated Variable Interest Entities Apollo has consolidated VIEs in accordance with the policy described in note 2 . Through its role as investment manager of these VIEs, the Company determined that Apollo has the power to direct the activities that most significantly impact the economic performance of these VIEs. Additionally, Apollo determined that its interests, both directly and indirectly from these VIEs, represent rights to returns that could potentially be significant to such VIEs. As a result, Apollo determined that it is the primary beneficiary and therefore should consolidate the VIEs. Certain CLOs are consolidated by Apollo as the Company is considered to hold a controlling financial interest through direct and indirect interests in these CLOs exclusive of management and performance-based fees received. Through its role as collateral manager of these VIEs, the Company determined that Apollo has the power to direct the activities that most significantly impact the economic performance of these VIEs. These CLOs were formed for the sole purpose of issuing collateralized notes to investors. The assets of these VIEs are primarily comprised of senior secured loans and the liabilities are primarily comprised of debt. The assets of consolidated CLOs are not available to creditors of the Company. In addition, the investors in these consolidated CLOs have no recourse against the assets of the Company. The Company measures both the financial assets and the financial liabilities of the CLOs using the fair value of the financial assets as further described in note 2 . The Company has elected the fair value option for financial instruments held by its consolidated CLOs, which includes investments in loans and corporate bonds, as well as debt obligations and contingent obligations held by such consolidated CLOs. Other assets include amounts due from brokers and interest receivables. Other liabilities include payables for securities purchased, which represent open trades within the consolidated CLOs and primarily relate to corporate loans that are expected to settle within 60 days . As of December 31, 2019 and December 31, 2018 , the Company held investments of $43.6 million and $44.2 million , respectively, in consolidated foreign currency denominated CLOs, which eliminate in consolidation. Net Gains from Investment Activities of Consolidated Variable Interest Entities The following table presents net gains from investment activities of the consolidated VIEs: For the Years Ended December 31, 2019 (1) 2018 (1) 2017 (1) Net gains from investment activities $ 51,039 $ 23,922 $ 7,960 Net gains (losses) from debt (11,941 ) 16,875 6,416 Interest and other income 29,224 35,612 35,154 Interest and other expenses (28,411 ) (31,297 ) (38,865 ) Net gains from investment activities of consolidated variable interest entities $ 39,911 $ 45,112 $ 10,665 (1) Amounts reflect consolidation eliminations. Senior Secured Notes, Subordinated Notes and Secured Borrowings Included within debt are amounts due to third-party institutions by the consolidated VIEs. The following table summarizes the principal provisions of the debt of the consolidated VIEs: As of December 31, 2019 As of December 31, 2018 Principal Outstanding Weighted Average Interest Rate Weighted Average Remaining Maturity in Years Principal Outstanding Weighted Average Interest Rate Weighted Average Remaining Maturity in Years Senior Secured Notes (2) $ 757,628 1.56 % 10.2 $ 768,860 1.67 % 11.2 Subordinated Notes (2) 93,572 N/A (1) 20.4 95,686 N/A (1) 21.4 Secured Borrowings (2)(3) 18,976 3.69 % 7.8 18,976 3.42 % 8.8 Total $ 870,176 $ 883,522 (1) The subordinated notes do not have contractual interest rates but instead receive distributions from the excess cash flows of the VIEs. (2) The debt of the consolidated VIEs is collateralized by assets of the consolidated VIEs and assets of one vehicle may not be used to satisfy the liabilities of another vehicle. The fair value of the debt and collateralized assets of the Senior Secured Notes, Subordinated Notes and Secured Borrowings are presented below: As of December 31, 2019 As of December 31, 2018 Debt, at fair value $ 850,147 $ 855,461 Collateralized assets $ 1,300,186 $ 1,290,891 (3) Secured borrowings consist of a consolidated VIE’s obligation through a repurchase agreement redeemable at maturity with a third party lender. The fair value of the secured borrowings as of December 31, 2019 and December 31, 2018 was $19.0 million and $19.0 million , respectively. The consolidated VIEs’ debt obligations contain various customary loan covenants. As of December 31, 2019 , the Company was not aware of any instances of non-compliance with any of these covenants. As of December 31, 2019 , the contractual maturities for debt of the consolidated VIEs is greater than 5 years . Variable Interest Entities Which are Not Consolidated The Company holds variable interests in certain VIEs which are not consolidated, as it has been determined that Apollo is not the primary beneficiary. The following table presents the carrying amounts of the assets and liabilities of the VIEs for which Apollo has concluded that it holds a significant variable interest, but that it is not the primary beneficiary. In addition, the table presents the maximum exposure to losses relating to these VIEs. As of As of Assets: Cash $ 222,481 $ 404,660 Investments 5,418,295 4,919,118 Receivables 137,165 126,873 Total Assets $ 5,777,941 $ 5,450,651 Liabilities: Debt and other payables $ 3,449,227 $ 3,673,219 Total Liabilities $ 3,449,227 $ 3,673,219 Apollo Exposure (1) $ 250,521 $ 244,894 (1) Represents Apollo’s direct investment in those entities in which Apollo holds a significant variable interest and certain other investments. Additionally, cumulative performance allocations are subject to reversal in the event of future losses, as discussed in note 16 .

FAIR VALUE MEASUREMENTS OF FINA

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS	FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS The following tables summarize the Company’s financial assets and financial liabilities recorded at fair value by fair value hierarchy level: As of December 31, 2019 Level I Level II Level III Total Cost Assets U.S. Treasury securities, at fair value $ 664,249 $ — $ — $ 664,249 $ 642,176 Investments, at fair value: Investment in Athene Holding 897,052 — — 897,052 590,110 Other investments — 43,094 113,410 (1) 156,504 135,686 Total investments, at fair value 897,052 43,094 113,410 1,053,556 725,796 Investments of VIEs, at fair value — 891,256 321,069 1,212,325 Investments of VIEs, valued using NAV — — — 844 Total investments of VIEs, at fair value — 891,256 321,069 1,213,169 Derivative assets (2) — 249 — 249 Total Assets $ 1,561,301 $ 934,599 $ 434,479 $ 2,931,223 Liabilities Liabilities of VIEs, at fair value $ — $ 850,147 $ — $ 850,147 Contingent consideration obligations (3) — — 112,514 112,514 Derivative liabilities (2) — 93 — 93 Total Liabilities $ — $ 850,240 $ 112,514 $ 962,754 As of December 31, 2018 Level I Level II Level III Total Cost Assets U.S. Treasury securities, at fair value $ 392,932 $ — $ — $ 392,932 $ 390,336 Investments, at fair value: Investment in Athene Holding 761,807 — — 761,807 592,572 Other investments — 42,782 96,370 (1) 139,152 124,379 Total investments, at fair value 761,807 42,782 96,370 900,959 716,951 Investments of VIEs, at fair value — 877,427 295,987 1,173,414 Investments of VIEs, valued using NAV — — — 2,263 Total investments of VIEs, at fair value — 877,427 295,987 1,175,677 Derivative assets (2) — 388 — 388 Total Assets $ 1,154,739 $ 920,597 $ 392,357 $ 2,469,956 Liabilities Liabilities of VIEs, at fair value $ — $ 855,461 $ — $ 855,461 Contingent consideration obligations (3) — — 74,487 74,487 Derivative liabilities (2) — 681 — 681 Total Liabilities $ — $ 856,142 $ 74,487 $ 930,629 (1) Other investments as of December 31, 2019 and December 31, 2018 excludes $25.8 million and $17.0 million , respectively, of performance allocations classified as Level III related to certain investments for which the Company has elected the fair value option. The Company’s policy is to account for performance allocations as investments. (2) Derivative assets and derivative liabilities are presented as a component of Other assets and Other liabilities, respectively, in the consolidated statements of financial condition. (3) Profit sharing payable includes contingent obligations classified as Level III. The following tables summarize the changes in financial assets measured at fair value for which Level III inputs have been used to determine fair value: For the Year Ended December 31, 2019 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 96,370 $ 295,987 $ 392,357 Purchases 15,048 — 15,048 Sale of investments/distributions (3,742 ) — (3,742 ) Net realized gains 932 — 932 Changes in net unrealized gains 7,219 35,120 42,339 Cumulative translation adjustment (2,105 ) (5,922 ) (8,027 ) Transfer into Level III (1) 1,693 — 1,693 Transfer out of Level III (1) (2,005 ) (4,116 ) (6,121 ) Balance, End of Period $ 113,410 $ 321,069 $ 434,479 Change in net unrealized gains included in principal investment income related to investments still held at reporting date $ 7,189 $ — $ 7,189 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 35,122 35,122 For the Year Ended December 31, 2018 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 35,701 $ 132,348 $ 168,049 Purchases 112,645 151,877 264,522 Sale of investments/distributions (49,288 ) (17,000 ) (66,288 ) Net realized losses (106 ) (1,084 ) (1,190 ) Changes in net unrealized gains 12,683 45,506 58,189 Cumulative translation adjustment (591 ) (16,787 ) (17,378 ) Transfer into Level III (1) 4,682 18,783 23,465 Transfer out of Level III (1) (19,356 ) (17,656 ) (37,012 ) Balance, End of Period $ 96,370 $ 295,987 $ 392,357 Change in net unrealized gains included in principal investment income related to investments still held at reporting date $ 12,618 $ — $ 12,618 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 44,350 44,350 (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial assets to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. The following table summarizes the changes in fair value in financial liabilities measured at fair value for which Level III inputs have been used to determine fair value: For the Years Ended December 31, 2019 2018 Contingent Consideration Obligations Liabilities of Consolidated VIEs & Apollo Funds Contingent Consideration Obligations Total Balance, Beginning of Period $ 74,487 $ 12,620 $ 92,600 $ 105,220 Payments (5,055 ) (12,620 ) (6,947 ) (19,567 ) Changes in net unrealized (gains) losses (1) 43,082 — (11,166 ) (11,166 ) Balance, End of Period $ 112,514 $ — $ 74,487 $ 74,487 (1) Changes in fair value of contingent consideration obligations are recorded in profit sharing expense in the consolidated statements of operations. The following tables summarize the quantitative inputs and assumptions used for financial assets and liabilities categorized as Level III under the fair value hierarchy: As of December 31, 2019 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average Financial Assets Other investments $ 5,350 Third Party Pricing N/A N/A N/A 108,060 Discounted cash flow Discount rate 15.0% - 16.0% 15.6% Investments of consolidated VIEs: Equity securities 321,069 Book value multiple Book value multiple 0.61x 0.61x Discounted cash flow Discount rate 13.1% 13.1% Total Financial Assets $ 434,479 Financial Liabilities Contingent consideration obligation $ 112,514 Discounted cash flow Discount rate 17.3% 17.3% Total Financial Liabilities $ 112,514 As of December 31, 2018 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average Financial Assets Other investments $ 6,901 Third Party Pricing N/A N/A N/A 89,469 Discounted cash flow Discount Rate 15.0% - 16.0% 15.5% Investments of consolidated VIEs: Corporate loans/bonds/CLO notes 4,116 Third party pricing N/A N/A N/A Equity securities 291,871 Book value multiple Book value multiple 0.65x 0.65x Discounted cash flow Discount rate 15.2% 15.2% Total investments of consolidated VIEs 295,987 Total Financial Assets $ 392,357 Financial Liabilities Contingent consideration obligation $ 74,487 Discounted cash flow Discount rate 17.0% 17.0% Total Financial Liabilities $ 74,487 Fair Value Measurement of Investment in Athene Holding As of December 31, 2019 and 2018 , the fair value of Apollo’s Level I investment in Athene Holding was calculated using the closing market price of Athene Holding shares of $47.03 and $39.83 , respectively. Discounted Cash Flow Model When a discounted cash flow model is used to determine fair value, the significant input used in the valuation model is the discount rate applied to present value the projected cash flows. Increases in the discount rate can significantly lower the fair value of an investment and the contingent consideration obligations; conversely decreases in the discount rate can significantly increase the fair value of an investment and the contingent consideration obligations. Consolidated VIEs Investments As of December 31, 2019 and 2018 , the significant unobservable inputs used in the fair value measurement of the equity securities include the discount rate applied and the book value multiples applied in the valuation models. These unobservable inputs in isolation can cause significant increases or decreases in fair value. The discount rate is determined based on the market rates an investor would expect for a similar investment with similar risks. When a comparable multiple model is used to determine fair value, the comparable multiples are generally multiplied by the underlying companies’ earnings before interest, taxes, depreciation and amortization (“EBITDA”) to establish the total enterprise value of the company. The comparable multiple is determined based on the implied trading multiple of public industry peers. Liabilities As of December 31, 2019 and 2018 , the debt obligations of the consolidated CLOs were measured on the basis of the fair value of the financial assets of the CLOs as the financial assets were determined to be more observable and, as a result, categorized as Level II in the fair value hierarchy. Contingent Consideration Obligations The significant unobservable input used in the fair value measurement of the contingent consideration obligations is the discount rate applied in the valuation models. This input in isolation can cause significant increases or decreases in fair value. The discount rate was based on the hypothetical cost of equity in connection with the acquisition of Stone Tower. See note 16 for further discussion of the contingent consideration obligations. Valuation of Underlying Investments of Equity Method Investees As discussed previously, the underlying entities that the Company manages and invests in are primarily investment companies which account for their investments at estimated fair value. On a quarterly basis, Apollo utilizes valuation committees consisting of members from senior management, to review and approve the valuation results related to the investments of the funds it manages. For certain publicly traded vehicles managed by the Company, a review is performed by an independent board of directors. The Company also retains independent valuation firms to provide third-party valuation consulting services to Apollo, which consist of certain limited procedures that management identifies and requests them to perform. The limited procedures provided by the independent valuation firms assist management with validating their valuation results or determining fair value. The Company performs various back-testing procedures to validate their valuation approaches, including comparisons between expected and observed outcomes, forecast evaluations and variance analyses. However, because of the inherent uncertainty of valuation, those estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and the differences could be material. Credit Investments The majority of investments in Apollo’s credit funds are valued based on quoted market prices and valuation models. Quoted market prices are valued based on the average of the “bid” and the “ask” quotes provided by multiple brokers wherever possible without any adjustments. Apollo will designate certain brokers to use to value specific securities. In order to determine the designated brokers, Apollo considers the following: (i) brokers with which Apollo has previously transacted, (ii) the underwriter of the security and (iii) active brokers indicating executable quotes. In addition, when valuing a security based on broker quotes wherever possible Apollo tests the standard deviation amongst the quotes received and the variance between the concluded fair value and the value provided by a pricing service. When broker quotes are not available Apollo considers the use of pricing service quotes or other sources to mark a position. When relying on a pricing service as a primary source, Apollo (i) analyzes how the price has moved over the measurement period, (ii) reviews the number of brokers included in the pricing service’s population and (iii) validates the valuation levels with Apollo’s pricing team and traders. Debt and equity securities that are not publicly traded or whose market prices are not readily available are valued at fair value utilizing a model based approach to determine fair value. Valuation approaches used to estimate the fair value of illiquid credit investments also may include the market approach and the income approach, as previously described above. The valuation approaches used consider, as applicable, market risks, credit risks, counterparty risks and foreign currency risks. Private Equity Investments The majority of the illiquid investments within our private equity funds are valued using the market approach, which provides an indication of fair value based on a comparison of the subject company to comparable publicly traded companies and transactions in the industry. Market Approach The market approach is driven by current market conditions, including actual trading levels of similar companies and, to the extent available, actual transaction data of similar companies. Judgment is required by management when assessing which companies are similar to the subject company being valued. Consideration may also be given to any of the following factors: (1) the subject company’s historical and projected financial data; (2) valuations given to comparable companies; (3) the size and scope of the subject company’s operations; (4) the subject company’s individual strengths and weaknesses; (5) expectations relating to the market’s receptivity to an offering of the subject company’s securities; (6) applicable restrictions on transfer; (7) industry and market information; (8) general economic and market conditions; and (9) other factors deemed relevant. Market approach valuation models typically employ a multiple that is based on one or more of the factors described above. Enterprise value as a multiple of EBITDA is common and relevant for most companies and industries, however, other industry specific multiples are employed where available and appropriate. Sources for gaining additional knowledge related to comparable companies include public filings, annual reports, analyst research reports, and press releases. Once a comparable company set is determined, Apollo reviews certain aspects of the subject company’s performance and determines how its performance compares to the group and to certain individuals in the group. Apollo compares certain measurements such as EBITDA margins, revenue growth over certain time periods, leverage ratios and growth opportunities. In addition, Apollo compares the entry multiple and its relation to the comparable set at the time of acquisition to understand its relation to the comparable set on each measurement date. Income Approach For investments where the market approach does not provide adequate fair value information, Apollo relies on the income approach. The income approach is also used to validate the market approach within our private equity funds. The income approach provides an indication of fair value based on the present value of cash flows that a business or security is expected to generate in the future. The most widely used methodology for the income approach is a discounted cash flow method. Inherent in the discounted cash flow method are significant assumptions related to the subject company’s expected results, the determination of a terminal value and a calculated discount rate, which is normally based on the subject company’s weighted average cost of capital, or “WACC.” The WACC represents the required rate of return on total capitalization, which is comprised of a required rate of return on equity, plus the current tax-effected rate of return on debt, weighted by the relative percentages of equity and debt that are typical in the industry. The most critical step in determining the appropriate WACC for each subject company is to select companies that are comparable in nature to the subject company and the credit quality of the subject company. Sources for gaining additional knowledge about the comparable companies include public filings, annual reports, analyst research reports, and press releases. The general formula then used for calculating the WACC considers the after-tax rate of return on debt capital and the rate of return on common equity capital, which further considers the risk-free rate of return, market beta, market risk premium and small stock premium, if applicable. The variables used in the WACC formula are inferred from the comparable market data obtained. The Company evaluates the comparable companies selected and concludes on WACC inputs based on the most comparable company or analyzes the range of data for the investment. Debt securities that are not publicly traded or whose market prices are not readily available are valued at fair value utilizing a model based approach to determine fair value. Valuation approaches used to estimate the fair value of hybrid capital investments also may include the market approach and the income approach, as previously described above. The valuation approaches used consider, as applicable, market risks, credit risks, counterparty risks and foreign currency risks. The value of liquid investments, where the primary market is an exchange (whether foreign or domestic), is determined using period end market prices. Such prices are generally based on the close price on the date of determination. Real Assets Investments The estimated fair value of commercial mortgage-backed securities (“CMBS”) in Apollo’s real assets funds is determined by reference to market prices provided by certain dealers who make a market in these financial instruments. Broker quotes are only indicative of fair value and may not necessarily represent what the funds would receive in an actual trade for the applicable instrument. Additionally, the loans held-for-investment are stated at the principal amount outstanding, net of deferred loan fees and costs for certain investments. The loans in Apollo’s real assets funds are evaluated for possible impairment on a quarterly basis. For Apollo’s real assets funds, valuations of non-marketable underlying investments are determined using methods that include, but are not limited to (i) discounted cash flow estimates or comparable analysis prepared internally, (ii) third party appraisals or valuations by qualified real estate appraisers and (iii) contractual sales value of investments/properties subject to bona fide purchase contracts. Methods (i) and (ii) also incorporate consideration of the use of the income, cost, or sales comparison approaches of estimating property values. Certain of the credit, private equity, and real assets funds may also enter into foreign currency exchange contracts, total return swap contracts, credit default swap contracts, and other derivative contracts, which may include options, caps, collars and floors. Foreign currency exchange contracts are marked-to-market by recognizing the difference between the contract exchange rate and the current market rate as unrealized appreciation or depreciation. If securities are held at the end of the period, the changes in value are recorded in income as unrealized. Realized gains or losses are recognized when contracts are settled. Total return swap and credit default swap contracts are recorded at fair value as an asset or liability with changes in fair value recorded as unrealized appreciation or depreciation. Realized gains or losses are recognized at the termination of the contract based on the difference between the close-out price of the total return or credit default swap contract and the original contract price. Forward contracts are valued based on market rates obtained from counterparties or prices obtained from recognized financial data service providers.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consisted of the following: As of As of Fixed assets $ 138,359 $ 109,039 Less: Accumulated depreciation and amortization (96,347 ) (89,049 ) Fixed assets, net 42,012 19,990 Deferred equity-based compensation (1) 132,422 80,443 Prepaid expenses 55,189 49,648 Intangible assets, net 20,615 18,899 Tax receivables 48,106 10,464 Other 28,105 12,725 Total Other Assets $ 326,449 $ 192,169 (1) Deferred equity-based compensation relates to the value of equity-based awards that have been or are expected to be granted in connection with the settlement of certain profit sharing arrangements. A corresponding amount for awards expected to be granted of $112.4 million and $54.5 million , as of December 31, 2019 and 2018 , respectively, is included in other liabilities on the consolidated statements of financial condition. Depreciation expense was $9.6 million , $8.5 million , and $12.1 million for the years ended December 31, 2019, 2018 and 2017 , respectively, and is presented as a component of general, administrative and other expense in the consolidated statements of operations. Intangible assets, net consists of the following: As of December 31, 2019 2018 Intangible assets/management contracts $ 262,169 $ 254,295 Accumulated amortization (241,554 ) (235,396 ) Intangible assets, net $ 20,615 $ 18,899 The changes in intangible assets, net consist of the following and includes approximately $1.0 million of indefinite-lived intangible assets as of both December 31, 2019 and 2018 . For the Years Ended December 31, 2019 2018 2017 Balance, beginning of year $ 18,899 $ 18,842 $ 22,721 Amortization expense (6,159 ) (5,629 ) (6,428 ) Acquisitions / additions 7,875 5,686 2,549 Balance, end of year $ 20,615 $ 18,899 $ 18,842 Expected amortization of these intangible assets for each of the next 5 years and thereafter is as follows: 2020 2021 2022 2023 2024 Thereafter Total Amortization of intangible assets $ 7,944 $ 6,491 $ 3,708 $ 788 $ 393 $ 331 $ 19,655 There was no impairment of indefinite lived intangible assets as of December 31, 2019 and 2018 .

LEASES

LEASES	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
LEASES	LEASES Apollo has operating leases for office space, data centers, and certain equipment under various lease agreements. The table below presents operating lease expenses: For the Years Ended December 31, 2019 2018 2017 Operating lease cost $ 42,680 $ 37,144 $ 34,184 The following table presents supplemental cash flow information related to operating leases: For the Years Ended December 31, 2019 2018 2017 Operating cash flows for operating leases $ 30,626 $ 35,654 $ 37,233 As of December 31, 2019 , the Company’s total lease payments by maturity are presented in the following table: Operating Lease Payments 2020 $ 26,780 2021 26,793 2022 22,487 2023 20,685 2024 19,767 Thereafter 140,221 Total lease payments $ 256,733 Less imputed interest (47,254 ) Present value of lease payments $ 209,479 The Company has undiscounted future operating lease payments of $427.4 million related to leases that have not commenced that were entered into as of and subsequent to December 31, 2019 . Such lease payments are not yet included in the table above or the Company’s consolidated statements of financial condition as lease assets and lease liabilities. These operating leases are anticipated to commence by 2021 with lease terms of approximately 15 years . Supplemental information related to leases is as follows: As of Weighted average remaining lease term (in years) 12.3 Weighted average discount rate 3.3 % As of December 31, 2018, the approximate aggregate minimum future payments required for operating leases under U.S. GAAP applicable to that period were as follows: 2019 2021 2022 2023 2024 Thereafter Total Aggregate minimum future payments $ 39,970 $ 25,923 $ 33,022 $ 36,243 $ 35,231 $ 400,889 $ 571,278

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax (provision) benefit totaled $129.0 million , $(86.0) million and $(325.9) million for the years ended December 31, 2019, 2018 and 2017 , respectively. The Company’s effective tax rate was approximately (9.2)% , 81.7% and 18.4% for the years ended December 31, 2019, 2018 and 2017 , respectively. The Company’s effective income tax rate of (9.2)% for the year ended December 31, 2019 resulted primarily from the deferred income tax benefits derived upon the Conversion. The provision for income taxes is presented in the following table: For the Years Ended December 31, 2019 2018 2017 Current: Federal income tax $ 1,973 $ — $ 3,314 Foreign income tax (1) 10,792 4,208 3,271 State and local income tax 3,408 1,633 6,364 Subtotal 16,173 5,841 12,949 Deferred: Federal income tax (120,457 ) 33,936 290,213 Foreign income tax (1) 128 — — State and local income tax (24,838 ) 46,244 22,783 Subtotal (145,167 ) 80,180 312,996 Total Income Tax Provision (Benefit) $ (128,994 ) $ 86,021 $ 325,945 (1) The foreign income tax provision was calculated on $44.7 million , $41.8 million and $24.0 million of pre-tax income generated in foreign jurisdictions for the years ended December 31, 2019, 2018 and 2017 , respectively. The following table reconciles the U.S. Federal statutory tax rate to the effective income tax rate: For the Years Ended December 31, 2019 2018 2017 U.S. Federal Statutory Tax Rate 21.0 % 21.0 % 35.0 % Income Passed Through to Non-Controlling Interests (10.7 ) (24.2 ) (16.3 ) (Income) Loss Passed Through to Class A Shareholders (2.7 ) 53.8 (10.4 ) State and Local Income Taxes (net of Federal Benefit) 1.1 29.8 1.2 Impact of Federal Tax Reform — — 9.7 Impact of Corporate Conversion (16.7 ) — — Other (1.2 ) 1.3 (0.8 ) Effective Income Tax Rate (9.2 )% 81.7 % 18.4 % Deferred income taxes are provided for the effects of temporary differences between the tax basis of an asset or liability and its reported amount in the consolidated statements of financial condition. These temporary differences result in taxable or deductible amounts in future years. The Company’s deferred tax assets and liabilities in the consolidated statements of financial condition consist of the following: As of December 31, 2019 2018 Deferred Tax Assets: Depreciation and amortization $ 270,746 $ 275,793 Net operating loss carryforwards 4,452 16,039 Deferred revenue 5,186 6,469 Equity-based compensation 9,528 3,849 Foreign tax credit 10,725 15,563 Basis difference in investments 168,573 — Other 11,042 7,174 Total Deferred Tax Assets 480,252 324,887 Deferred Tax Liabilities: Unrealized gains from investments 6,299 18,108 Other 788 685 Total Deferred Tax Liabilities 7,087 18,793 Total Deferred Tax Assets, Net $ 473,165 $ 306,094 As of December 31, 2019 , the Company had no remaining federal net operating loss (“NOL”) carryforward, and $65.8 million of state and local net operating loss carryforwards that will begin to expire after 2036. In addition, the Company’s $10.7 million foreign tax credit carryforward will begin to expire after 2025. The Company considered its historical and current year earnings, current utilization of existing deferred tax assets and deferred tax liabilities, the 15 year amortization periods of the tax basis of its intangible assets, the character of any NOLs, future taxable income, and the Company’s short and long term business forecasts in evaluating whether it should establish a valuation allowance. The Company concluded it is more likely than not that its deferred tax assets will be realized and that no valuation allowance is necessary at December 31, 2019 . Under U.S. GAAP, a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Based upon the Company’s review of its federal, state, local and foreign income tax returns and tax filing positions, the Company determined that no unrecognized tax benefits for uncertain tax positions were required to be recorded, including any additional items related to the Conversion. In addition, the Company does not believe that it has any tax positions for which it is reasonably possible that it will be required to record significant amounts of unrecognized tax benefits within the next twelve months. The primary jurisdictions in which the Company operates are the United States, New York State, New York City, California and the United Kingdom. There are no unremitted earnings with respect to the United Kingdom and other foreign entities. In the normal course of business, the Company is subject to examination by federal, state, local and foreign tax authorities. With a few exceptions, as of December 31, 2019 , the Company’s U.S. federal, state, local and foreign income tax returns for the years 2016 through 2018 are open under the general statute of limitations provisions and therefore subject to examination. Currently, the Internal Revenue Service is examining the tax return of a subsidiary for the 2011 tax year. The State and City of New York are examining certain subsidiaries’ tax returns for tax years 2011 to 2013. No provisions with respect to these examinations have been recorded. Prior to the Conversion, Apollo and certain of its subsidiaries operated in the U.S. as partnerships for income tax purposes. Effective September 5, 2019, Apollo Global Management, Inc. converted from a Delaware limited liability company named Apollo Global Management, LLC to a Delaware corporation named Apollo Global Management, Inc. Subsequent to the Conversion, generally all of the income the Company earns is subject to U.S. corporate income taxes, which could result in an overall higher income tax expense (or benefit) in periods subsequent to the Conversion. As of December 31, 2019 , the Company recorded a net deferred tax benefit of $239.4 million . The Company’s estimate of income tax assets and liabilities is based on the most recent information available including the tax and book basis of underlying assets of certain partnerships not previously subject to corporate income tax. The tax basis of the partnerships and their underlying assets and liabilities are based on estimates subject to finalization of the Company’s 2019 tax return information. As a result, the impact of the Conversion may differ from the current estimates described herein, but any change is not anticipated to be material. The Company recorded additional deferred tax assets as a result of the step-up in tax basis of intangibles related to exchanges of AOG Units for Class A Common Stock by the Managing and Contributing Partners. A related liability is recorded in “Due to Related Parties” in the consolidated statements of financial condition for the expected payments under the tax receivable agreement entered into by and among APO Corp., the Managing Partners, the Contributing Partners, and other parties thereto (as amended, the “tax receivable agreement”) (see note 15). The benefit the Company obtains from the difference in the tax asset recognized and the related liability results in an increase to additional paid in capital. The amortization period for a portion of these tax basis intangibles is 15 years and the remaining portion relates to the disposition of the underlying assets to which the step-up is attributable. The associated deferred tax assets will reverse over the same corresponding time periods. For the year ended December 31, 2019, $150.9 million and $38.6 million of the increase in deferred tax asset and the increase in tax receivable agreement liability, respectively, shown below are related to the step-up in assets from AOG Unit exchanges in prior years triggered by the Conversion, and therefore do not increase additional paid in capital, but rather increase income tax benefit and decrease other income, respectively. The table below presents the impact to the deferred tax asset, tax receivable agreement liability and additional paid in capital related to the exchange of AOG Units for Class A Common Stock. Exchange of AOG Units for Class A Common Stock Increase in Deferred Tax Asset Increase in Tax Receivable Agreement Liability Increase to Additional Paid In Capital For the Year Ended December 31, 2019 $ 171,814 $ 41,954 $ 17,553 For the Year Ended December 31, 2018 $ 45,017 $ 37,891 $ 7,126 For the Year Ended December 31, 2017 $ 56,908 $ 44,972 $ 11,936

DEBT

DEBT	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following: As of December 31, 2019 As of December 31, 2018 Outstanding Balance Fair Value Annualized Weighted Average Interest Rate Outstanding Balance Fair Value Annualized Weighted Average Interest Rate 2024 Senior Notes (1) $ 497,164 $ 529,333 (4) 4.00 % $ 496,512 $ 498,736 (4) 4.00 % 2026 Senior Notes (1) 496,704 540,713 (4) 4.40 496,191 502,107 (4) 4.40 2029 Senior Notes (1) 674,727 761,780 (4) 4.87 — — — 2039 Senior Secured Guaranteed Notes (1) 316,100 354,093 (5) 4.77 — — — 2048 Senior Notes (1) 296,510 350,331 (4) 5.00 296,386 290,714 (4) 5.00 2050 Subordinated Notes 297,008 304,125 (4) 4.95 — — — Secured Borrowing (2) 17,921 17,921 (3) 1.99 — — — 2014 AMI Term Facility I — — — 15,633 15,633 (3) 2.00 2014 AMI Term Facility II (2) 17,266 17,266 (3) 1.75 17,657 17,657 (3) 1.75 2016 AMI Term Facility I (2) 18,915 18,915 (3) 1.30 19,371 19,371 (3) 1.32 2016 AMI Term Facility II (2) 18,285 18,285 (3) 1.40 18,698 18,698 (3) 1.70 Total Debt $ 2,650,600 $ 2,912,762 $ 1,360,448 $ 1,362,916 (1) Includes amortization of note discount, as applicable. Outstanding balance is presented net of unamortized debt issuance costs: As of December 31, 2019 As of December 31, 2018 2024 Senior Notes $ 2,394 $ 2,946 2026 Senior Notes 3,014 3,483 2029 Senior Notes 5,928 — 2039 Senior Secured Guaranteed Notes 8,900 — 2048 Senior Notes 3,185 3,298 2050 Subordinated Notes 2,992 — Total $ 26,413 $ 9,727 (2) Apollo Management International LLP (“AMI”), a subsidiary of the Company, entered into several credit facilities (collectively referred to as the “AMI Facilities”) to fund the Company’s investment in certain European CLOs it manages: Facility Date Loan Amount Secured Borrowing December 19, 2019 € 15,984 2014 AMI Term Facility II December 9, 2014 € 15,400 2016 AMI Term Facility I January 18, 2016 € 16,870 2016 AMI Term Facility II June 22, 2016 € 16,308 The Secured Borrowing consists of an obligation through a repurchase agreement redeemable at maturity with a third party lender. The weighted average remaining maturity of the Secured Borrowing is 11.0 years. (3) Fair value is based on obtained broker quotes. These notes are classified as a Level III liability within the fair value hierarchy based on the number and quality of broker quotes obtained, the standard deviations of the observed broker quotes and the percentage deviation from independent pricing services. For instances where broker quotes are not available, a discounted cash flow method is used to obtain a fair value. (4) Fair value is based on obtained broker quotes. These notes are classified as a Level II liability within the fair value hierarchy based on the number and quality of broker quotes obtained, the standard deviations of the observed broker quotes and the percentage deviation from independent pricing services. (5) Fair value is based on a discounted cash flow method. These notes are classified as a Level III liability within the fair value hierarchy. 2013 AMH Credit Facilities —On December 18, 2013, AMH and its subsidiaries and certain other subsidiaries of the Company entered into credit facilities (the “2013 AMH Credit Facilities”) with the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent for the lenders. The 2013 AMH Credit Facilities provided for (i) a term loan facility to AMH (the “Term Facility”) that included $750 million of term loan from third-party lenders and $271.7 million of term loan held by a subsidiary of the Company and (ii) a $500 million revolving credit facility (the “Revolver Facility”), in each case, with an original maturity date of January 18, 2019. On March 11, 2016, the maturity date of both the Term Facility and the Revolver Facility was extended by two years to January 18, 2021. The extension was determined to be a modification of the 2013 AMH Credit Facilities in accordance with U.S. GAAP. In connection with the issuance of the 2024 Senior Notes, the 2026 Senior Notes and the 2048 Senior Notes (as described below), $250 million , $200 million and $300 million of the proceeds, respectively, were used to repay the entire remaining amount of both the term loan from third-party lenders and the term loan held by a subsidiary of the Company as of March 15, 2018. The Revolver Facility was replaced as of July 11, 2018 by the 2018 AMH Credit Facility, as described below. The 2013 AMH Credit Facilities and all related loan documents were terminated as of July 11, 2018. 2018 AMH Credit Facility —On July 11, 2018, AMH as borrower (the “Borrower”) entered into a new credit agreement (the “2018 AMH Credit Facility”) with the lenders and issuing banks party thereto and Citibank, N.A., as administrative agent for the lenders. The 2018 AMH Credit Facility provides for a $750 million revolving credit facility to the Borrower with a final maturity date of July 11, 2023. The 2018 AMH Credit Facility is to remain available until its maturity, and any undrawn revolving commitments bear a commitment fee. The interest rate on the 2018 AMH Credit Facility is based on adjusted LIBOR and the applicable margin as of December 31, 2019 was 1.00% . The commitment fee on the $750 million undrawn 2018 AMH Credit Facility as of December 31, 2019 was 0.09% . Borrowings under the 2018 AMH Credit Facility may be used for working capital and general corporate purposes, including, without limitation, permitted acquisitions. The Borrower may incur incremental facilities in respect of the 2018 AMH Credit Facility in an aggregate amount not to exceed $250 million plus additional amounts so long as the Borrower is in compliance with a net leverage ratio not to exceed 4.00 to 1.00 . As of December 31, 2019 , the 2018 AMH Credit Facility was undrawn. 2024 Senior Notes —On May 30, 2014, AMH issued $500 million in aggregate principal amount of its 4.000% Senior Notes due 2024 (the “2024 Senior Notes”), at an issue price of 99.722% of par. Interest on the 2024 Senior Notes is payable semi-annually in arrears on May 30 and November 30 of each year. The 2024 Senior Notes will mature on May 30, 2024. The discount is amortized into interest expense on the consolidated statements of operations over the term of the 2024 Senior Notes. The Company is obligated to settle the 2024 Senior Notes for the face amount of $500 million . 2026 Senior Notes —On May 27, 2016, AMH issued $500 million in aggregate principal amount of its 4.400% Senior Notes due 2026 (the “2026 Senior Notes”), at an issue price of 99.912% of par. Interest on the 2026 Senior Notes is payable semi-annually in arrears on May 27 and November 27 of each year. The 2026 Senior Notes will mature on May 27, 2026. The discount is amortized into interest expense on the consolidated statements of operations over the term of the 2026 Senior Notes. The Company is obligated to settle the 2026 Senior Notes for the face amount of $500 million . 2029 Senior Notes —On February 7, 2019, AMH issued $550 million in aggregate principal amount of its 4.872% Senior Notes due 2029, at an issue price of 99.999% of par. On June 11, 2019, AMH issued an additional $125 million in aggregate principal amount of its 4.872% Senior Notes due 2029 (the “Additional Notes”). The Additional Notes constitute a single class of securities with the previously issued senior notes due 2029 (collectively, the “2029 Senior Notes”). Interest on the 2029 Senior Notes is payable semi-annually in arrears on February 15 and August 15 of each year. The 2029 Senior Notes will mature on February 15, 2029. The discount is amortized into interest expense on the consolidated statements of operations over the term of the 2029 Senior Notes. The Company is obligated to settle the 2029 Senior Notes for the face amount of $675 million . 2039 Senior Secured Guaranteed Notes —On June 10, 2019, APH Finance 1, LLC (the “Issuer”), a subsidiary of the Company, issued $325 million in aggregate principal amount of its 4.77% Series A Senior Secured Guaranteed Notes due 2039 (the “2039 Senior Secured Guaranteed Notes”). The 2039 Senior Secured Guaranteed Notes are secured by a lien on the Issuer’s and the guarantors’ participation interests in the rights to distributions in relation to a portfolio of equity investments owned by affiliates of the Company in certain existing and future funds managed or advised by subsidiaries of the Company. Interest on the 2039 Senior Secured Guaranteed Notes is payable on a quarterly basis. The 2039 Senior Secured Guaranteed Notes will mature in June 2039, but, unless prepaid to the extent permitted under the indenture governing the 2039 Senior Secured Guaranteed Notes, the anticipated repayment date will be in June 2029. If the Issuer has not repaid or refinanced the 2039 Senior Secured Guaranteed Notes prior to the anticipated repayment date an additional 5.0% per annum will accrue on the 2039 Senior Secured Guaranteed Notes. The issuance costs are amortized into interest expense on the consolidated statements of operations over the expected term of the 2039 Senior Secured Guaranteed Notes. 2048 Senior Notes —On March 15, 2018, AMH issued $300 million in aggregate principal amount of its 5.000% Senior Notes due 2048 (the “2048 Senior Notes”), at an issue price of 99.892% of par. Interest on the 2048 Senior Notes is payable semi-annually in arrears on March 15 and September 15 of each year. The 2048 Senior Notes will mature on March 15, 2048. The discount is amortized into interest expense on the consolidated statements of operations over the term of the 2048 Senior Notes. The Company is obligated to settle the 2048 Senior Notes for the face amount of $300 million . 2050 Subordinated Notes —On December 17, 2019, AMH issued $300 million in aggregate principal amount of its 4.950% Fixed-Rate Resettable Subordinated Notes due 2050 (the “2050 Subordinated Notes”), at an issue price of 100.000% of par. Interest on the 2050 Subordinated Notes is payable semi-annually in arrears on June 17 and December 17 of each year. The 2050 Subordinated Notes will mature on January 14, 2050. The discount is amortized into interest expense on the consolidated statements of operations over the term of the 2050 Subordinated Notes. The Company is obligated to settle the 2050 Subordinated Notes for the face amount of $300 million . As of December 31, 2019 , the indentures governing the 2024 Senior Notes, the 2026 Senior Notes, the 2029 Senior Notes, the 2048 Senior Notes and the 2050 Subordinated Notes (the “Indentures”) include covenants that restrict the ability of AMH and, as applicable, the guarantors of the notes under the Indentures to incur indebtedness secured by liens on voting stock or profit participating equity interests of their respective subsidiaries, or merge, consolidate or sell, transfer or lease assets. The Indentures also provide for customary events of default. As of December 31, 2019 , the indenture governing the 2039 Senior Secured Guaranteed Notes includes a series of covenants and restrictions customary for transactions of this type, including covenants that (i) require the Issuer to maintain specified reserve accounts to be used to make required payments in respect of the 2039 Senior Secured Guaranteed Notes, (ii) relate to prepayments and related payments of specified amounts, including specified make-whole payments under certain circumstances and (iii) relate to recordkeeping, access to information and similar matters. The following table presents the interest expense incurred related to the Company’s debt: For the Years Ended December 31, 2019 2018 2017 Interest Expense: (1) 2013 AMH Credit Facilities $ — $ 2,387 $ 8,328 2018 AMH Credit Facility 1,277 489 — 2024 Senior Notes 20,652 20,652 20,652 2026 Senior Notes 22,513 22,513 22,513 2029 Senior Notes 27,743 — — 2039 Senior Secured Guaranteed Notes 9,182 — — 2048 Senior Notes 15,124 12,009 — 2050 Subordinated Notes 586 — — AMI Term Facilities/Secured Borrowing 1,292 1,324 1,380 Total Interest Expense $ 98,369 $ 59,374 $ 52,873 (1) Debt issuance costs incurred in connection with the 2013 AMH Credit Facilities, the 2018 AMH Credit Facility, the 2024 Senior Notes, the 2026 Senior Notes, the 2029 Senior Notes, the 2039 Senior Secured Guaranteed Notes, the 2048 Senior Notes and the 2050 Subordinated Notes are amortized into interest expense over the term of the debt arrangement. The table below presents the contractual maturities for the Company's debt arrangements as of December 31, 2019 : 2020 2021 2022 2023 2024 Thereafter Total 2024 Senior Notes $ — $ — $ — $ — $ 500,000 $ — $ 500,000 2026 Senior Notes — — — — — 500,000 500,000 2029 Senior Notes — — — — — 675,000 675,000 2039 Senior Secured Guaranteed Notes — — — — — 325,000 325,000 2048 Senior Notes — — — — — 300,000 300,000 2050 Subordinated Notes — — — — — 300,000 300,000 Secured Borrowing — — — — — 17,921 17,921 2014 AMI Term Facility II — — 17,267 — — — 17,267 2016 AMI Term Facility I — — — — — 18,915 18,915 2016 AMI Term Facility II — — — 18,285 — — 18,285 Total Obligations as of December 31, 2019 $ — $ — $ 17,267 $ 18,285 $ 500,000 $ 2,136,836 $ 2,672,388

NET INCOME PER SHARE OF CLASS A

NET INCOME PER SHARE OF CLASS A COMMON STOCK	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
NET INCOME PER SHARE OF CLASS A COMMON STOCK	NET INCOME PER SHARE OF CLASS A COMMON STOCK The table below presents basic and diluted net income per share of Class A Common Stock using the two-class method: Basic and Diluted For the Years Ended December 31, 2019 2018 2017 Numerator: Net income (loss) attributable to Apollo Global Management, Inc. Class A Common Stockholders $ 806,537 $ (42,038 ) $ 615,566 Dividends declared on Class A Common Stock (1) (417,386 ) (388,744 ) (354,878 ) Dividends on participating securities (2) (17,888 ) (18,119 ) (11,822 ) Earnings allocable to participating securities (17,343 ) — (3) (8,828 ) Undistributed income (loss) attributable to Class A Common Stockholders: Basic 353,920 (448,901 ) 240,038 Dilution effect on distributable income attributable to unvested RSUs 3,173 — 2,706 Undistributed income (loss) attributable to Class A Common Stockholders: Diluted $ 357,093 $ (448,901 ) $ 242,744 Denominator: Weighted average number of shares of Class A Common Stock outstanding: Basic 207,072,413 199,946,632 190,931,743 Dilution effect of unvested RSUs 1,676,111 — 1,649,950 Weighted average number of shares of Class A Common Stock outstanding: Diluted 208,748,524 199,946,632 192,581,693 Net Income per share of Class A Common Stock: Basic (4) Distributed Income $ 2.02 $ 1.93 $ 1.85 Undistributed Income (Loss) 1.70 (2.23 ) 1.27 Net Income (Loss) per share of Class A Common Stock: Basic $ 3.72 $ (0.30 ) $ 3.12 Net Income per share of Class A Common Stock: Diluted (4) Distributed Income $ 2.01 $ 1.93 $ 1.84 Undistributed Income (Loss) 1.70 (2.23 ) 1.26 Net Income (Loss) per share of Class A Common Stock: Diluted $ 3.71 $ (0.30 ) $ 3.10 (1) See note 14 for information regarding the quarterly dividends declared and paid during 2019 , 2018 and 2017. (2) Participating securities consist of vested and unvested RSUs that have rights to dividends and unvested restricted shares. (3) No allocation of undistributed losses was made to the participating securities as the holders do not have a contractual obligation to share in the losses of the Company with Class A Common Stockholders. (4) For the years ended December 31, 2019 and 2017, unvested RSUs were determined to be dilutive, and were accordingly included in the diluted earnings per share calculation. For the years ended December 31, 2019 and 2017, the share options, AOG Units and participating securities were determined to be anti-dilutive and were accordingly excluded from the diluted earnings per share calculation. For the year ended December 31, 2018 , all of the classes of securities were determined to be anti-dilutive. The Company has granted RSUs that provide the right to receive, subject to vesting during continued employment, shares of Class A Common Stock pursuant to the Equity Plan. The Company has three types of RSU grants, which we refer to as Plan Grants, Bonus Grants and Performance Grants. “Plan Grants” vest over time (generally one to six years ) and may or may not provide the right to receive dividend equivalents on vested RSUs on an equal basis with the Class A Common Stockholders any time a dividend is declared. “Bonus Grants” vest over time (generally three years ) and generally provide the right to receive dividend equivalents on both vested and unvested RSUs on an equal basis with the Class A Common Stockholders any time a dividend is declared. “Performance Grants” generally vest over time ( three to five years ), subject to the Company’s receipt of performance revenues, within prescribed periods, sufficient to cover the associated equity-based compensation expense. Performance Grants provide the right to receive dividend equivalents on vested RSUs and may also provide the right to receive dividend equivalents on unvested RSUs. Any dividend equivalent paid to an employee will not be returned to the Company upon forfeiture of the award by the employee. Vested and unvested RSUs that are entitled to non-forfeitable dividend equivalents qualify as participating securities and are included in the Company’s basic and diluted earnings per share computations using the two-class method. The holder of an RSU participating security would have a contractual obligation to share in the losses of the entity if the holder is obligated to fund the losses of the issuing entity or if the contractual principal or mandatory redemption amount of the participating security is reduced as a result of losses incurred by the issuing entity. The RSU participating securities do not have a mandatory redemption amount and the holders of the participating securities are not obligated to fund losses, therefore, neither the vested RSUs nor the unvested RSUs are subject to any contractual obligation to share in losses of the Company. Certain holders of AOG Units are subject to the transfer restrictions set forth in the agreements with the respective holders and may, a limited number of times each year, upon notice (subject to the terms of an exchange agreement), exchange their AOG Units for shares of Class A Common Stock on a one -for- one basis. An AOG Unit holder must exchange one unit in each of the Apollo Operating Group partnerships or limited liability companies to effectuate an exchange for one share of Class A Common Stock. Apollo Global Management, Inc. has one share of Class B Common Stock outstanding, which is held by BRH Holdings GP, Ltd. (“BRH”). The voting power of the share of Class B Common Stock is reduced on a one vote per one AOG Unit basis in the event of an exchange of AOG Units for shares of Class A Common Stock, as discussed above. The Class B Common Stock has no net income (loss) per share as it does not participate in Apollo’s earnings (losses) or dividends. The Class B Common Stock has no dividend rights and only a de minimis liquidation right. The Class B Common Stock represented 44.7% , 52.4% and 53.9% of the total voting power of the Company’s Class A Common Stock and Class B Common Stock with respect to the limited matters upon which they are entitled to vote pursuant to the Company’s governing documents as of December 31, 2019, 2018 and 2017 , respectively. The following table summarizes the anti-dilutive securities. For the Years Ended December 31, 2019 2018 2017 Weighted average vested RSUs 430,748 384,592 454,929 Weighted average unvested RSUs N/A 8,850,291 N/A Weighted average unexercised options 152,084 204,167 213,545 Weighted average AOG Units outstanding 195,124,877 203,019,177 211,360,975 Weighted average unvested restricted shares 959,069 872,252 300,921

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION Equity-based awards granted to employees and non-employees as compensation are measured based on the grant date fair value of the award. Equity-based awards that do not require future service (i.e., vested awards) are expensed immediately. Equity-based employee awards that require future service are expensed over the relevant service period. Equity-based awards that require performance metrics to be met are expensed only when the performance metric is met or deemed probable. RSUs The Company grants RSUs under the Equity Plan. The fair value of all grants is based on the grant date fair value, which considers the public share price of the Company’s Class A Common Stock subject to certain discounts, as applicable. The following table summarizes the weighted average discounts for Plan Grants, Bonus Grants and Performance Grants. For the Years Ended December 31, 2019 2018 2017 Plan Grants: Discount for the lack of distributions until vested (1) 18.7 % 12.0 % 11.8 % Marketability discount for transfer restrictions (2) 4.9 % 4.7 % 3.6 % Bonus Grants: Marketability discount for transfer restrictions (2) 4.1 % 2.3 % 2.3 % Performance Grants: Discount for the lack of distributions until vested (1) 14.0 % 12.8 % N/A Marketability discount for transfer restrictions (2) 5.9 % 5.6 % N/A (1) Based on the present value of a growing annuity calculation. (2) Based on the Finnerty Model calculation. The estimated total grant date fair value for Plan Grants and Bonus Grants is charged to compensation expense on a straight-line basis over the vesting period, which for Plan Grants is generally one to six years , with the first installment vesting one year after grant and quarterly vesting thereafter, and for Bonus Grants is generally annual vesting over three years . During the year ended December 31, 2019 , the Company awarded Performance Grants of 1.7 million RSUs to certain employees with a grant date fair value of $45.2 million , which vest subject to continued employment and the Company’s receipt of performance revenues, within prescribed periods, sufficient to cover the associated equity-based compensation expense. Additionally, the Company modified Plan Grants of 0.5 million RSUs with a grant date fair value of $10.5 million to Performance Grants of 0.5 million RSUs. The modification did not result in a change to the grant date fair value of the awards, as performance conditions that impact vesting are not considered in the determination of the fair value of an award and the award is otherwise expected to vest under the original terms. In accordance with U.S. GAAP, equity-based compensation expense for these and other Performance Grants will be recognized on an accelerated recognition method over the requisite service period to the extent the performance revenue metrics are met or deemed probable. The following table summarizes the equity based compensation expense recognized relating to Performance Grants. For the Years Ended December 31, 2019 2018 2017 Equity-based compensation $ 71,438 $ 75,188 $ — Additionally, the Company entered into an agreement in 2018 with several employees under which it expects to grant them RSUs beginning in 2020 if year-over-year growth in certain discretionary earnings metrics is attained prior to grant and they remain employed at the grant date. Once granted, these RSUs will vest based on both continued service and the Company’s receipt of performance revenues, within prescribed periods, sufficient to cover the associated equity-based compensation expense. In accordance with U.S. GAAP, equity-based compensation expense for such awards, if and when granted, will be recognized on an accelerated recognition method over the requisite service period to the extent the performance revenue metrics are met or deemed probable. No equity-based compensation expense was recognized related to these RSUs for the year ended December 31, 2019 . The fair value of all RSU grants made during the years ended December 31, 2019, 2018 and 2017 was $121.4 million , $256.1 million and $33.2 million , respectively. The following table presents the actual forfeiture rates and equity-based compensation expense recognized: For the Years Ended December 31, 2019 2018 2017 Actual forfeiture rate 2.1 % 7.8 % 9.8 % Equity-based compensation $ 146,096 $ 146,708 $ 68,225 The following table summarizes RSU activity: Unvested Weighted Average Grant Date Fair Value Vested Total Number of RSUs Outstanding Balance at January 1, 2019 9,839,968 $ 26.52 2,380,783 12,220,751 (1) Granted 4,650,408 26.11 — 4,650,408 Forfeited (282,419 ) 25.88 (18,524 ) (300,943 ) Vested (4,423,264 ) 26.43 4,423,264 — Issued — 23.87 (4,435,905 ) (4,435,905 ) Balance at December 31, 2019 9,784,693 (2) $ 26.38 2,349,618 12,134,311 (1) (1) Amount excludes RSUs which have vested and have been issued in the form of Class A Common Stock. (2) RSUs were expected to vest over the weighted average period of 3.2 years. Restricted Share Awards The Company has granted restricted share awards under the Equity Plan primarily in connection with certain profit sharing arrangements. The fair value of restricted share grants is the public share price of the Company’s Class A Common Stock on the grant date. The grant date fair value of these awards is recognized as equity-based compensation expense on a straight-line basis over the vesting period. The fair value of restricted share award grants made during the years ended December 31, 2019, 2018 and 2017 was $11.1 million , $30.2 million and $13.9 million , respectively. The following table presents the actual forfeiture rates and equity-based compensation expense recognized: For the Years Ended December 31, 2019 2018 2017 Actual forfeiture rate 0.8 % 2.9 % 0.8 % Equity-based compensation $ 17,095 $ 13,515 $ 5,064 The following table summarizes the restricted share award activity: Unvested Weighted Average Grant Date Fair Value Vested Total Number of Restricted Share Awards Outstanding Balance at January 1, 2019 1,088,983 $ 30.96 — 1,088,983 Granted 303,458 36.66 — 303,458 Forfeited (10,550 ) 33.80 — (10,550 ) Issued — 30.67 (491,433 ) (491,433 ) Vested (491,433 ) 30.67 491,433 — Balance at December 31, 2019 890,458 (1) $ 33.02 — 890,458 (1) Restricted share awards were expected to vest over the next 1.7 years. Restricted Stock and Restricted Stock Unit Awards—ARI and AINV The Company has granted ARI and AINV restricted share units to certain employees of the Company. Separately, ARI granted restricted stock awards and restricted stock unit awards ("ARI Awards") to certain employees of the Company. These awards generally vest over three years , either quarterly or annually. The awards granted to the Company are recorded as investments under the equity method of accounting and deferred revenue in the consolidated statements of financial condition. As these awards vest, the deferred revenue is recognized as management fees. The awards granted to the Company’s employees are recorded in other assets and other liabilities in the consolidated statements of financial condition. The grant date fair value of the asset is amortized through equity-based compensation on a straight-line basis over the vesting period. The fair value of the liability is remeasured each period with any changes in fair value recorded in compensation expense in the consolidated statements of operations. Compensation expense is offset by related management fees earned by the Company from ARI and AINV, respectively. The grant date fair value of the employees’ awards is based on the then public share price of ARI and AINV at grant, less discounts for transfer restrictions, and has been categorized as Level II within the fair value hierarchy as a result. The following table summarizes the management fees, equity-based compensation expense, and actual forfeiture rates for the ARI Awards: For the Years Ended December 31, 2019 2018 2017 Management fees $ 16,697 $ 11,952 $ 11,120 Equity-based compensation $ 16,697 $ 11,952 $ 11,120 Actual forfeiture rate 1.2 % 2.6 % 2.5 % The following tables summarize activity for the ARI Awards that were granted to certain of the Company’s employees: ARI Awards Unvested Weighted Average Grant Date Fair Value ARI Awards Vested Total Number of ARI Awards Outstanding Balance at January 1, 2019 1,414,614 $ 16.91 1,167,751 2,582,365 Granted 1,281,045 18.54 — 1,281,045 Forfeited (32,204 ) 18.33 — (32,204 ) Delivered — 16.77 (811,163 ) (811,163 ) Vested (510,922 ) 18.11 510,922 — Balance at December 31, 2019 2,152,533 (1) $ 17.57 867,510 3,020,043 (1) ARI Awards were expected to vest over the next 2.3 years. The following table summarizes activity for the AINV Awards that were granted to certain of the Company’s employees: AINV Unvested RSUs Weighted Average Grant Date Fair Value AINV RSUs Vested Total Number of AINV Awards Outstanding Balance at January 1, 2019 65,002 $ 10.89 28,986 93,988 Granted 68,647 11.09 — 68,647 Forfeited — — — — Delivered — 15.46 (30,390 ) (30,390 ) Vested (53,274 ) 16.05 53,274 — Balance at December 31, 2019 80,375 $ 15.89 51,870 132,245 (1) AINV Awards were expected to vest over the next 1.6 years. Restricted Share Awards—Athene Holding The Company has granted Athene Holding restricted share awards to certain employees of the Company. Separately, Athene Holding has also granted restricted share awards to certain employees of the Company. Both awards are collectively referred to as the “AHL Awards.” Certain of the AHL Awards function similarly to options as they are exchangeable for Class A shares of Athene Holding upon payment of a conversion price and the satisfaction of certain other conditions. The awards granted are either subject to time-based vesting conditions that generally vest over three to five years or vest upon achieving certain metrics, such as attainment of certain rates of return and realized cash received by certain investors in Athene Holding upon sale of their shares. The Company records the AHL Awards in other assets and other liabilities in the consolidated statements of financial condition. The fair value of the asset is amortized through equity-based compensation over the vesting period. The fair value of the liability is remeasured each period, with any changes in fair value recorded in compensation expense in the consolidated statements of operations. For AHL Awards granted by Athene Holding, compensation expense related to amortization of the asset is offset, with certain exceptions, by related management fees earned by the Company from Athene. The grant date fair value of the AHL Awards is based on the share price of Athene Holding, less discounts for transfer restrictions, and has been categorized as Level II within the fair value hierarchy as a result. The AHL Awards that function similarly to options were valued using a multiple-scenario model, which considers the price volatility of the underlying share price of Athene Holding, time to expiration and the risk-free rate, while the other awards were valued using the share price of Athene Holding less any discounts for transfer restrictions. The following table summarizes the management fees, equity-based compensation expense and actual forfeiture rates for the AHL Awards: For the Years Ended December 31, 2019 2018 2017 Management fees $ 1,155 $ (2,743 ) $ 4,058 Equity-based compensation $ 3,576 $ (2,136 ) $ 6,913 Actual forfeiture rate — % 3.6 % 0.1 % The following table summarizes activity for the AHL Awards that were granted to certain employees of the Company: AHL Awards Unvested Weighted Average Grant Date Fair Value AHL Awards Vested Total Number of AHL Awards Outstanding Balance at January 1, 2019 143,399 $ 21.75 606,351 749,750 Granted 7,460 37.50 — 7,460 Vested (109,666 ) 19.66 109,666 — Forfeited — — — — Delivered — 17.38 (124,274 ) (124,274 ) Balance at December 31, 2019 41,193 (1) $ 30.08 591,743 632,936 (1) 33,443 AHL Awards are expected to vest over the next 1.2 years and 7,750 AHL Awards may vest if certain performance metrics are achieved. Equity-Based Compensation Allocation Equity-based compensation is allocated based on ownership interests. Therefore, the amortization of equity-based compensation is allocated to stockholders’ equity attributable to AGM Inc. and the Non-Controlling Interests, which results in a difference in the amounts charged to equity-based compensation expense and the amounts credited to stockholders’ equity attributable to AGM Inc. in the Company’s consolidated financial statements. Below is a reconciliation of the equity-based compensation allocated to AGM Inc.: For the Year Ended December 31, 2019 Total Amount Non-Controlling Interest % in Apollo Operating Group Allocated to Non-Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, Inc. RSUs, share options and restricted share awards $ 161,995 — % $ — $ 161,995 AHL Awards 3,576 44.7 1,597 1,979 Other equity-based compensation awards 24,077 44.7 10,758 13,319 Total equity-based compensation $ 189,648 12,355 177,293 Less other equity-based compensation awards (2) (12,355 ) (30,575 ) Capital increase related to equity-based compensation $ — $ 146,718 For the Year Ended December 31, 2018 Total Amount Non-Controlling Interest % in Apollo Operating Group Allocated to Non-Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, Inc. RSUs, share options and restricted share awards $ 159,575 — % $ — $ 159,575 AHL Awards (2,136 ) 50.1 (1,070 ) (1,066 ) Other equity-based compensation awards 15,789 50.1 7,913 7,876 Total equity-based compensation $ 173,228 6,843 166,385 Less other equity-based compensation awards (2) (6,843 ) (18,848 ) Capital increase related to equity-based compensation $ — $ 147,537 For the Year Ended December 31, 2017 Total Amount Non-Controlling Interest % in Apollo Operating Group Allocated to Non-Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, Inc. RSUs, share options and restricted share awards $ 73,352 — % $ — $ 73,352 AHL Awards 6,913 51.5 3,560 3,353 Other equity-based compensation awards 11,185 51.5 5,760 5,425 Total equity-based compensation $ 91,450 9,320 82,130 Less other equity-based compensation awards (2) (9,320 ) (9,956 ) Capital increase related to equity-based compensation $ — $ 72,174 (1) Calculated based on average ownership percentage for the period considering issuances of Class A shares or Class A Common Stock, as applicable, during the period. (2) Includes equity-based compensation reimbursable by certain funds.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
EQUITY	EQUITY Common Stock As a result of the Conversion, (i) each Class A share converted into one share of Class A Common Stock (ii) the Class B share converted into one share of Class B Common Stock and (iii) the Former Manager was granted one issued and outstanding, fully paid and nonassessable share of Class C Common Stock, which bestows to its holder certain management rights over the Company. Holders of Class A Common Stock are entitled to participate in dividends from the Company on a pro rata basis. Holders of Class A Common Stock do not elect the members of the Company’s board of directors and have limited voting rights. During the years ended December 31, 2019, 2018 and 2017 , the Company issued shares of Class A Common Stock in settlement of vested RSUs. The Company has generally allowed holders of vested RSUs and exercised share options to settle their tax liabilities by reducing the number of shares of Class A Common Stock issued to them, which the Company refers to as “net share settlement.” Additionally, the Company has generally allowed holders of share options to settle their exercise price by reducing the number of shares of Class A Common Stock issued to them at the time of exercise by an amount sufficient to cover the exercise price. The net share settlement results in a liability for the Company and a corresponding accumulated deficit adjustment. In February 2016, Apollo announced its adoption of a program to repurchase up to $250 million in the aggregate of its shares of Class A Common Stock, including up to $150 million in the aggregate of its outstanding shares of Class A Common Stock through a share repurchase program and up to $100 million through net share settlement of equity-based awards granted under the Equity Plan. In January 2019, Apollo increased its authorized share repurchase amount by $250 million bringing the total authorized repurchase amount to $500 million , which may be used to repurchase outstanding shares of Class A Common Stock as well as to reduce the number of shares of Class A Common Stock to be issued to employees to satisfy associated tax obligations in connection with the settlement of equity-based awards granted under the Equity Plan (or any successor equity plan thereto). Shares of Class A Common Stock may be repurchased from time to time in open market transactions, in privately negotiated transactions, pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Exchange Act, or otherwise, with the size and timing of these repurchases depending on legal requirements, price, market and economic conditions and other factors. Apollo is not obligated under the terms of the program to repurchase any of its shares of Class A Common Stock. The repurchase program has no expiration date and may be suspended or terminated by the Company at any time without prior notice. The table below summarizes the issuance of shares of Class A Common Stock for equity-based awards: For the Years Ended December 31, 2019 2018 2017 Shares of Class A Common Stock issued in settlement of vested RSUs and share options exercised (1) 4,640,072 3,866,209 3,565,098 Reduction of shares of Class A Common Stock issued (2) (1,854,313 ) (1,311,108 ) (1,318,632 ) Shares of Class A Common Stock purchased related to share issuances and forfeitures (3) 14,051 (208,521 ) 76,739 Issuance of shares of Class A Common Stock for equity-based awards 2,799,810 2,346,580 2,323,205 (1) The gross value of shares issued was $148.2 million , $129.0 million and $85.1 million for the years ended December 31, 2019, 2018 and 2017 , respectively, based on the closing price of a share of Class A Common Stock at the time of issuance. (2) Cash paid for tax liabilities associated with net share settlement was $56.6 million and $43.7 million and $31.7 million for the years ended December 31, 2019, 2018 and 2017 , respectively. (3) Certain Apollo employees receive a portion of the profit sharing proceeds of certain funds in the form of (a) restricted shares of Class A Common Stock of AGM Inc. 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 Class A Common Stock on the open market and retire them. During the years ended December 31, 2019, 2018 and 2017 , we issued 289,714 , 927,020 and 495,326 of such restricted shares and 102,089 , 85,371 and zero of such RSUs under the Equity Plan, respectively, and repurchased 265,113 , 1,093,867 and 413,850 shares of Class A Common Stock in open-market transactions not pursuant to a publicly-announced repurchase plan or program, respectively. In addition, there were 10,550 , 41,674 and 4,737 restricted shares forfeited during the years ended December 31, 2019, 2018 and 2017 , respectively. Additionally, during the years ended December 31, 2019, 2018 and 2017 , 3,453,901 , 2,701,876 and 233,248 shares of Class A Common Stock were repurchased in open market transactions as part of the publicly announced share repurchase program adopted in February 2016, respectively, and such shares were subsequently canceled by the Company. The Company paid $102.4 million , $55.4 million and $6.9 million for these open market share repurchases during the years ended December 31, 2019, 2018 and 2017 , respectively. Preferred Stock Issuance On March 7, 2017, Apollo issued 11,000,000 6.375% Series A Preferred shares (the “Series A Preferred shares”) for gross proceeds of $275.0 million , or $264.4 million net of issuance costs and on March 19, 2018, Apollo issued 12,000,000 6.375% Series B Preferred shares (the “Series B Preferred shares” and collectively with the Series A Preferred shares, the “Preferred shares”) for gross proceeds of $300.0 million , or $289.8 million net of issuance costs. As a result of the Conversion, (i) each Series A Preferred share representing limited liability company interests of AGM LLC outstanding immediately prior to the Effective Time converted into one issued and outstanding, fully paid and nonassessable share of Series A Preferred Stock, having a liquidation preference of $25.00 per share, of the Company and (ii) each Series B Preferred share representing limited liability company interests of AGM LLC outstanding immediately prior to the Effective Time converted into one issued and outstanding, fully paid and nonassessable share of Series B Preferred Stock, having a liquidation preference of $25.00 per share, of the Company (the Series A Preferred Stock and the Series B Preferred Stock collectively, the “Preferred Stock”). When, as and if declared by the executive committee of the board of directors of AGM Inc., dividends on the Preferred Stock will be payable quarterly on March 15, June 15, September 15 and December 15 of each year, beginning on June 15, 2018 for the Series B Preferred Stock, at a rate per annum equal to 6.375% . Dividends on the Preferred Stock are discretionary and non-cumulative. During 2019, quarterly cash dividends were $0.398438 per share of Series A Preferred Stock and Series B Preferred Stock. Subject to certain exceptions, unless dividends have been declared and paid or declared and set apart for payment on the Preferred Stock for a quarterly dividend period, during the remainder of that dividend period Apollo may not declare or pay or set apart payment for dividends on any shares of Class A Common Stock or any other equity securities that the Company may issue in the future ranking as to the payment of dividends, junior to the Preferred Stock (“Junior Stock”) and Apollo may not repurchase any Junior Stock. These restrictions were not applicable during the initial dividend period, which was the period from March 19, 2018 to but excluding June 15, 2018 for the Series B Preferred Stock. The Series A Preferred Stock and the Series B Preferred Stock may be redeemed at Apollo’s option, in whole or in part, at any time on or after March 15, 2022 and March 15, 2023, respectively, at a price of $25.00 per share of Preferred Stock, plus declared and unpaid dividends to, but excluding, the redemption date, without payment of any undeclared dividends. Holders of the Preferred Stock will have no right to require the redemption of the Preferred Stock and there is no maturity date. If a certain change of control event or a certain tax redemption event occurs prior to March 15, 2022 and March 15, 2023 for the Series A Preferred Stock and the Series B Preferred Stock, respectively, the Preferred Stock may be redeemed at Apollo’s option, in whole but not in part, upon at least 30 days’ notice, within 60 days of the occurrence of such change of control event or such tax redemption event, as applicable, at a price of $25.25 per share of Preferred Stock, plus declared and unpaid dividends to, but excluding, the redemption date, without payment of any undeclared dividends. If a certain rating agency event occurs prior to March 15, 2023, the Series B Preferred Stock may be redeemed at Apollo’s option, in whole but not in part, upon at least 30 days’ notice, within 60 days of the occurrence of such rating agency event, at a price of $25.50 per share of Series B Preferred Stock, plus declared and unpaid dividends to, but excluding, the redemption date, without payment of any undeclared dividends. If (i) a change of control event occurs (whether before, on or after March 15, 2022 and March 15, 2023 for the Series A Preferred Stock and the Series B Preferred Stock, respectively) and (ii) Apollo does not give notice prior to the 31st day following the change of control event to redeem all the outstanding Preferred Stock, the dividend rate per annum on the Preferred Stock will increase by 5.00% , beginning on the 31st day following such change of control event. The Preferred Stock are not convertible into Class A Common Stock and have no voting rights, except in limited circumstances as provided in the Company’s certificate of incorporation. In connection with the issuance of the Preferred Stock, certain Apollo Operating Group entities issued for the benefit of Apollo a series of preferred units with economic terms that mirror those of the Preferred Stock. Dividends and Distributions The table below presents information regarding the quarterly dividends and distributions which were made at the sole discretion of the Former Manager of the Company prior to the Conversion and at the sole discretion of the executive committee of the board of directors subsequent to the Conversion (in millions, except per share data). Certain subsidiaries of AGM Inc. 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 in a given fiscal year; therefore, the net amounts ultimately distributed by AGM Inc. to its Class A Common Stockholders in respect of each fiscal year are generally expected to be less than the net amounts distributed to AOG Unitholders. Subsequent to the Conversion, distributions from AGM Inc. are referred to as dividends. Dividend Declaration Date Dividend per share of Class A Common Stock Payment Date Dividend to Class A Common Stockholders Distribution to Non-Controlling Interest Holders in the Apollo Operating Group Total Distributions from Apollo Operating Group Distribution Equivalents on Participating Securities February 3, 2017 $ 0.45 February 28, 2017 $ 84.2 $ 97.0 $ 181.2 $ 2.9 N/A — April 13, 2017 — 20.5 (1) 20.5 — April 28, 2017 0.49 May 31, 2017 94.5 102.9 197.4 3.3 August 2, 2017 0.52 August 31, 2017 100.6 108.8 209.4 3.2 November 1, 2017 0.39 November 30, 2017 75.6 81.6 157.2 2.4 For the year ended December 31, 2017 $ 1.85 $ 354.9 $ 410.8 $ 765.7 $ 11.8 February 1, 2018 $ 0.66 February 28, 2018 $ 133.0 $ 133.7 $ 266.7 $ 5.4 N/A — April 12, 2018 — 50.5 (1) 50.5 — May 3, 2018 0.38 May 31, 2018 76.6 77.0 153.6 4.1 August 2, 2018 0.43 August 31, 2018 86.5 87.1 173.6 4.2 November 1, 2018 0.46 November 30, 2018 92.6 93.0 185.6 4.4 For the year ended December 31, 2018 $ 1.93 $ 388.7 $ 441.3 $ 830.0 $ 18.1 January 31, 2019 $ 0.56 February 28, 2019 $ 113.3 $ 113.3 $ 226.6 $ 5.0 N/A — April 12, 2019 — 45.4 (1) 45.4 — May 2, 2019 0.46 May 31, 2019 92.2 93.0 185.2 4.1 July 31, 2019 0.50 August 30, 2019 100.4 101.0 201.4 4.4 N/A — August 15, 2019 — 4.1 (1) 4.1 — N/A — September 26, 2019 — 17.8 (1) 17.8 — November 29, 2019 0.50 November 29, 2019 111.5 90.1 201.6 4.4 For the year ended December 31, 2019 $ 2.02 $ 417.4 $ 464.7 $ 882.1 $ 17.9 (1) On April 13, 2017, April 12, 2018 and April 12, 2019, the Company made a $0.10 , $0.25 and $0.18 per AOG Unit pro rata distribution, respectively, to the Non-Controlling Interest holders in the Apollo Operating Group, in connection with taxes and payments made under the tax receivable agreement. See note 15 for more information regarding the tax receivable agreement. On April 12, 2019, August 15, 2019 and September 26, 2019, the Company made a $0.04 , $0.02 and $0.10 per AOG Unit pro rata distribution, respectively, to the Non-Controlling Interest holders in the Apollo Operating Group, in connection with federal corporate estimated tax payments. Non-Controlling Interests The table below presents equity interests in Apollo’s consolidated, but not wholly-owned, subsidiaries and funds. Net income and comprehensive income attributable to Non-Controlling Interests consisted of the following: For the Years Ended December 31, 2019 2018 2017 Net income attributable to Non-Controlling Interests in consolidated entities: Interest in management companies and a co-investment vehicle (1) $ 4,755 $ 4,176 $ 4,415 Other consolidated entities 25,749 27,472 4,476 Net income attributable to Non-Controlling Interests in consolidated entities $ 30,504 $ 31,648 $ 8,891 Net income attributable to Non-Controlling Interests in the Apollo Operating Group: Net income $ 1,536,843 $ 19,251 $ 1,443,639 Net income attributable to Non-Controlling Interests in consolidated entities (30,504 ) (31,648 ) (8,891 ) Net income (loss) after Non-Controlling Interests in consolidated entities 1,506,339 (12,397 ) 1,434,748 Adjustments: Income tax provision (benefit) (2) (128,994 ) 86,021 325,945 NYC UBT and foreign tax benefit (3) (15,890 ) (9,764 ) (9,798 ) Net income (loss) in non-Apollo Operating Group entities 51,030 (35,072 ) (200,225 ) Series A Preferred Stock Dividends (17,531 ) (17,531 ) (13,538 ) Series B Preferred Stock Dividends (19,125 ) (14,131 ) — Total adjustments (130,510 ) 9,523 102,384 Net income (loss) after adjustments 1,375,829 (2,874 ) 1,537,132 Weighted average ownership percentage of Apollo Operating Group 48.4 % 50.3 % 52.5 % Net income (loss) attributable to Non-Controlling Interests in Apollo Operating Group $ 663,146 $ (2,021 ) $ 805,644 Net Income attributable to Non-Controlling Interests $ 693,650 $ 29,627 $ 814,535 Other comprehensive income (loss) attributable to Non-Controlling Interests (7,496 ) (17,409 ) 7,180 Comprehensive Income Attributable to Non-Controlling Interests $ 686,154 $ 12,218 $ 821,715 (1) Reflects the remaining interest held by certain individuals who receive an allocation of income from certain of the credit funds managed by Apollo. (2) Reflects all taxes recorded in our consolidated statements of operations. Of this amount, U.S. federal, state, and local corporate income taxes attributable to APO Corp. are added back to income of the Apollo Operating Group before calculating Non-Controlling Interests as the income allocable to the Apollo Operating Group is not subject to such taxes. (3) Reflects NYC UBT and foreign taxes that are attributable to the Apollo Operating Group and its subsidiaries related to its operations in the U.S. as partnerships and in non-U.S. jurisdictions as corporations. As such, these amounts are considered in the income attributable to the Apollo Operating Group.

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES	RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES Management fees, transaction and advisory fees and reimbursable expenses from the funds the Company manages and their portfolio companies are included in due from related parties in the consolidated statements of financial condition. The Company also typically facilitates the payment of certain operating costs incurred by the funds that it manages as well as their related parties. These costs are normally reimbursed by such funds and are included in due from related parties. Other related party transactions include loans to employees and periodic sales of ownership interests in Apollo funds to employees. Due from related parties and due to related parties are comprised of the following: As of As of Due from Related Parties: Due from credit funds $ 186,495 $ 153,687 Due from private equity funds 27,724 19,993 Due from real assets funds 26,626 42,471 Due from portfolio companies 53,394 67,740 Due from Contributing Partners, employees and former employees 120,830 94,217 Total Due from Related Parties $ 415,069 $ 378,108 Due to Related Parties: Due to Managing Partners and Contributing Partners $ 302,050 $ 285,598 Due to credit funds 7,213 3,444 Due to private equity funds 191,620 136,078 Due to real assets funds 504 315 Total Due to Related Parties $ 501,387 $ 425,435 Tax Receivable Agreement Subject to certain restrictions, each of the Managing Partners and Contributing Partners has the right to exchange his vested AOG Units for the Company’s Class A Common Stock. All Operating Group entities have made, or will make, an election under Section 754 of the U.S. Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), which will result in an adjustment to the tax basis of the assets owned by the Apollo Operating Group at the time of the exchange. These exchanges will result in increases in the basis of underlying assets that will reduce the amount of tax that AGM Inc. and its subsidiaries will otherwise be required to pay in the future. The tax receivable agreement provides for the payment to the Managing Partners and Contributing Partners of 85% of the amount of cash savings, if any, in U.S. federal, state, local and foreign income taxes that AGM Inc. and its subsidiaries would realize as a result of the increases in tax basis of assets that resulted from the 2007 Reorganization, the Conversion and exchanges of AOG Units for Class A Common Stock. AGM Inc. and its subsidiaries retain the benefit from the remaining 15% of actual cash tax savings. If the Company does not make the required annual payment on a timely basis as outlined in the tax receivable agreement, interest is accrued on the balance until the payment date. As a result of the exchanges of AOG Units for Class A Common Stock during the years ended December 31, 2019, 2018 and 2017 , a $42.0 million , $37.9 million and $45.0 million liability was recorded, respectively, to estimate the amount of the future expected payments to be made by AGM Inc. and its subsidiaries to the Managing Partners and Contributing Partners pursuant to the tax receivable agreement. In April 2019, Apollo made a $37.2 million cash payment pursuant to the tax receivable agreement resulting from the realized tax benefit for the 2018 tax year. Additionally, in connection with this payment, the Company made a corresponding pro rata distribution of $37.4 million ( $0.18 per AOG Unit) to the Non-Controlling Interest holders in the Apollo Operating Group. In April 2018, Apollo made a $50.3 million cash payment pursuant to the tax receivable agreement resulting from the realized tax benefit for the 2017 tax year. Additionally, in connection with this payment, the Company made a corresponding pro rata distribution of $50.5 million ( $0.25 per AOG Unit) to the Non-Controlling Interest holders in the Apollo Operating Group. During the year ended December 31, 2019 , the Company remeasured the tax receivable agreement liability and recorded a $50.3 million loss in other income (loss), net in the consolidated statements of operations primarily due to the expected payments under the tax receivable agreement for the step-up in tax basis of intangibles related to prior exchanges of AOG Units for Class A Common Stock as well as a change in the estimated state tax rates during the year. During the year ended December 31, 2018 , the Company remeasured the tax receivable agreement liability and recorded $35.4 million in other income (loss), net in the consolidated statements of operations due to changes in estimated tax rates resulting from legislative reforms in the TCJA. During the year ended December 31, 2017 , Company remeasured the tax receivable agreement liability and recorded $200.2 million in other income (loss), net in the consolidated statements of operations due to changes in estimated tax rates. Due from Contributing Partners, Employees and Former Employees As of December 31, 2019 and December 31, 2018 , due from Contributing Partners, Employees and Former Employees includes various amounts due to the Company including employee loans and return of profit sharing distributions. As of December 31, 2019 and December 31, 2018 , the balance included interest-bearing employee loans receivable of $17.1 million and $16.8 million , respectively. The outstanding principal amount of the loans as well as all accrued and unpaid interest is required to be repaid at the earlier of the eighth anniversary of the date of the relevant loan or at the date of the relevant employee’s resignation from the Company. The Company recorded a receivable from the Contributing Partners and certain employees and former employees for the potential return of profit sharing distributions that would be due if certain funds were liquidated as of December 31, 2019 and December 31, 2018 of $88.5 million and $66.3 million , respectively. Indemnity Performance revenues from certain funds can be distributed to the Company on a current basis, but are subject to repayment by the subsidiaries of the Apollo Operating Group that act as general partners of the funds in the event that certain specified return thresholds are not ultimately achieved. The Managing Partners, Contributing Partners and certain other investment professionals have personally guaranteed, subject to certain limitations, the obligations of these subsidiaries in respect of this general partner obligation. Such guarantees are several and not joint and are limited to a particular Managing Partner’s or Contributing Partner’s distributions. Pursuant to an existing shareholders agreement, the Company has agreed to indemnify each of the Company’s Managing Partners and certain Contributing Partners against all amounts that they pay pursuant to any of these personal guarantees in favor of certain funds that the Company manages (including costs and expenses related to investigating the basis for or objecting to any claims made in respect of the guarantees) for all interests that the Company’s Managing Partners and Contributing Partners have contributed or sold to the Apollo Operating Group. Accordingly, in the event that the Company’s Managing Partners, Contributing Partners and certain investment professionals are required to pay amounts in connection with a general partner obligation for the return of previously made distributions with respect to Fund IV, Fund V and Fund VI, the Company will be obligated to reimburse the Company’s Managing Partners and certain Contributing Partners for the indemnifiable percentage of amounts that they are required to pay even though the Company did not receive the certain distribution to which that general partner obligation related. The Company recorded an indemnification liability of $12.7 million and $12.2 million as of December 31, 2019 and December 31, 2018 , respectively. Due to Credit, Private Equity and Real Assets Funds Based upon an assumed liquidation of certain of the credit, private equity and real assets funds the Company manages, the Company has recorded a general partner obligation to return previously distributed performance allocations, which represents amounts due to these funds. The general partner obligation is recognized based upon an assumed liquidation of a fund’s net assets as of the reporting date. The actual determination and any required payment of any such general partner obligation would not take place until the final disposition of a fund’s investments based on the contractual termination of the fund or as otherwise set forth in the respective limited partnership agreement or other governing document of the fund. The following table presents the general partner obligation to return previously distributed performance allocations related to certain funds by segment: As of As of Credit $ — $ 1,370 Private Equity 189,252 135,723 Total general partner obligation $ 189,252 $ 137,093 Athene Athene Holding, through its subsidiaries, is a leading retirement services company that issues, reinsures and acquires retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. The products and services offered by Athene include fixed and fixed indexed annuity products, reinsurance services offered to third-party annuity providers; and institutional products, such as funding agreements. Athene Holding is currently listed on the New York Stock Exchange under the symbol “ATH”. The Company provides asset management and advisory services to Athene, including asset allocation services, direct asset management services, asset and liability matching management, mergers and acquisitions, asset diligence hedging and other asset management services. On September 20, 2018, Athene and Apollo agreed to revise the existing fee arrangements (the “amended fee agreement”) between Athene and Apollo. The amended fee agreement was subject to approval by Athene’s shareholders of a bye-law amendment providing that Athene will not elect to terminate the investment management arrangement between Athene and Apollo, except for cause, for a period of four years from the date of the bye-law amendment and thereafter only on each successive two-year anniversary of the expiration of the initial four-year period. On June 10, 2019, the Athene shareholders approved the bye-law amendment and the amended fee agreement took effect retroactive to the month beginning January 1, 2019. The Company began recording fees pursuant to the amended fee agreement on January 1, 2019. The amended fee agreement provides for sub-allocation fees which vary based on portfolio allocation differentiation, as described below. The amended fee agreement provides for a monthly fee to be payable by Athene to the Company in arrears, with retroactive effect to the month beginning on January 1, 2019, in an amount equal to the following, to the extent not otherwise payable to the Company pursuant to any one or more investment management or sub-advisory agreements or arrangements: (i) The Company, through its consolidated subsidiary Apollo Insurance Solutions Group LLC, or ISG, earns a base management fee of 0.225% per year on the aggregate market value of substantially all of the assets in substantially all of the investment accounts of or relating to Athene (collectively, the “Athene Accounts”) up to $103.4 billion (the level of assets in the Athene Accounts as of January 1, 2019, excluding certain assets, the “Backbook Value”) and 0.150% per year on all assets in excess of $103.4 billion (the “Incremental Value”), respectively; plus (ii) with respect to each asset in an Athene Account, subject to certain exceptions, that is managed by the Company and that belongs to a specified asset class tier (“core,” “core plus,” “yield,” and “high alpha”), a sub-allocation fee as follows, which will, in the case of assets acquired after January 1, 2019, be subject to a cap of 10% of the applicable asset’s gross book yield: As of Sub-Allocation Fees: Core Assets (1) 0.065 % Core Plus Assets (2) 0.130 % Yield Assets (3) 0.375 % High Alpha Assets (4) 0.700 % Cash, Treasuries, Equities and Alternatives (5) — % (1) Core assets include public investment grade corporate bonds, municipal securities, agency residential or commercial mortgage backed securities and obligations of any governmental agency or government sponsored entity that is not expressly backed by the U.S. government. (2) Core plus assets include private investment grade corporate bonds, fixed rate first lien commercial mortgage loans (“CML”) and obligations issued or assumed by a financial institution (such an institution, a “financial issuer”) and determined by Apollo to be “Tier 2 Capital” under the Basel III recommendations developed by the Basel Committee on Banking Supervision (or any successor to such recommendations). (3) Yield assets include non-agency residential mortgage-backed securities, investment grade collateralized loan obligations, certain asset-backed securities, commercial mortgage-backed securities, emerging market investments, below investment grade corporate bonds, subordinated debt obligations, hybrid securities or surplus notes issued or assumed by a financial issuer, as rated preferred equity, residential mortgage loans, bank loans, investment grade infrastructure debt and certain floating rate commercial mortgage loans. (4) High alpha assets include subordinated commercial mortgage loans, below investment grade collateralized loan obligations, unrated preferred equity, debt obligations originated by MidCap, below investment grade infrastructure debt, certain loans originated directly by Apollo and agency mortgage derivatives. (5) With respect to Equities and Alternatives, Apollo earns performance revenues of 0% to 20% . Athene and Apollo Strategic Transaction On October 27, 2019 Athene Holding, AGM Inc. and the entities that form the Apollo Operating Group entered into a Transaction Agreement (the “Transaction Agreement”), pursuant to which, among other things: • (i) Athene Holding will issue 27,959,184 Class A common shares of Athene Holding (the “AHL Class A Common Shares”) to certain subsidiaries of the Apollo Operating Group in exchange for an issuance by the Apollo Operating Group of 29,154,519 non-voting equity interests of the Apollo Operating Group to AHL and (ii) AGM Inc., through the Apollo Operating Group, will purchase an additional $350 million of AHL Class A Common Shares (the “Share Issuance”); • Athene Holding has granted to AGM Inc. the right to purchase additional AHL Class A Common Shares from the closing date of the Share Issuance (the “Closing Date”) until 180 days thereafter to the extent the issued and outstanding AHL Class A Common Shares beneficially owned by Apollo and certain of its related parties and employees (collectively, the “Apollo Parties”) (inclusive of AHL Class A Common Shares over which any such persons have a valid proxy) do not equal at least 35% of the issued and outstanding AHL Class A Common Shares, on a fully diluted basis (the “Conditional Right”); • A representative of the Apollo Operating Group will have the right to purchase up to that number of AHL Class A Common Shares that would increase by up to 5% the percentage of the issued and outstanding AHL Class A Common Shares beneficially owned by the Apollo Parties (inclusive of AHL Class A Common Shares over which any such persons have a valid proxy), calculated on a fully diluted basis (the “Facility Right”, and together with the Share Issuance and the Conditional Right, the “Share Transactions”); • Athene Holding will make certain amendments to the Twelfth Amended and Restated Bye-laws of Athene Holding (the “Bye-laws”), by way of amending and restating the Bye-laws (the “Thirteenth Amended and Restated Bye-laws”), which include, among other items, the elimination of Athene Holding’s current multi-class share structure. The consummation of the Share Issuance and the other transactions contemplated by the Transaction Agreement are subject to the satisfaction or waiver of specified closing conditions, including (i) the receipt of required governmental and regulatory approvals for the Share Transactions, and the approval of the NYSE for the listing of the AHL Class A Common Shares to be issued by AHL in connection with the Share Issuance, (ii) the absence of any applicable law or regulation or order that prohibits the transactions contemplated by the Transaction Agreement, and the absence of any pending or threatened proceeding by any governmental entity or any investigation by any governmental entity seeking any such order, and (iii) certain other customary closing conditions, including, among other things, delivery of certain transaction documents contemplated by the Transaction Agreement, accuracy of representations and warranties and compliance with covenants by the parties. The Company expects the Transaction Agreement to have a material impact on its consolidated financial statements related to its investment in Athene Holding and corresponding Non-controlling Interests. Upon consummation of the Transaction Agreement, the fair value of the Company’s investment in Athene Holding will be calculated using the closing market price of AHL Class A Common Shares, less a discount due to a lack of marketability estimated to be approximately 10% , as a result of a lock-up on existing and newly acquired AHL Class A Common Shares for three years from the initial closing date. In addition, the Company expects to consolidate certain entities in which it has an indirect ownership interest through its investment in Athene Holding, with a portion attributable to Non-controlling Interests. Liquidity Agreement In connection with the Transaction Agreement, Athene Holding and AGM Inc. have also agreed to enter into a Liquidity Agreement, to be dated as of the Closing Date (the “Liquidity Agreement”), pursuant to which, once each quarter, Athene Holding will be entitled to liquidate a number of AOG Units for payment of cash proceeds as set forth in the Liquidity Agreement. Upon receipt of a notice from Athene Holding to exercise such right, AGM Inc. will consummate, or permit the consummation of, one of the following transactions: • a purchase of AOG Units from Athene Holding (a “Purchase Transaction”); • if Athene Holding and AGM Inc. do not agree to consummate a Purchase Transaction, AGM Inc. will use its best efforts to consummate a public offering of AGM Inc. Class A Common Stock, the proceeds (net of certain commissions, fees and expenses consistent with customary and prevailing market practices for similar offerings) of which will be used to fund the purchase of AOG Units from Athene Holding (a “Registered Sale”); • if AGM Inc. notifies Athene Holding that it cannot consummate a Registered Sale, upon Athene Holding’s request, AGM Inc. will use its best efforts to consummate a sale of AGM Inc. Class A Common Stock pursuant to an exemption from the registration requirements of the Securities Act, the proceeds (net of certain commissions, fees and expenses consistent with customary and prevailing market practices for similar offerings) of which will be used to fund the purchase of AOG Units from Athene Holding (a “Private Placement,” and collectively with a Purchase Transaction and a Registered Sale, a “Sale Transaction”); or • if AGM Inc. elects (in its sole discretion) not to consummate a Sale Transaction, Athene Holding will be permitted to sell AOG Units in one or more transactions that are exempt from the registration requirements of the Securities Act, subject to certain restrictions (an “AOG Transaction”). In each case, Athene Holding’s liquidity rights are subject to certain limitations and obligations, including that Athene Holding shall request liquidity for AOG Units with a value of at least $50 million , and shall set the minimum sale price for such AOG Units at not less than 90% of the volume-weighted average price of the shares of AGM Inc. Class A Common Stock for the 10 consecutive business days prior to the day Athene Holding submits a notice for sale of AOG Units. In case of a Registered Sale and a Private Placement, AGM Inc. shall not be required to sell any shares of AGM Inc. Class A Common Stock at a price that is lower than such minimum sale price. The Liquidity Agreement provides that Athene Holding is prohibited from transferring its AOG Units other than to an affiliate or pursuant to the options set forth above. The Liquidity Agreement also restricts Athene Holding from transferring AOG Units to a “bad actor” (as defined in Regulation D of the Securities Act), any person restricted by law or regulation from owning equity securities of AGM Inc. and to an entity listed on a schedule thereto. AGM Inc. has the right not to consummate a Registered Sale or a Private Placement if the recipient of the shares of Class A Stock would receive more than 2.0% of the outstanding and issued shares of AGM Inc. Class A Common Stock. Additionally, AGM Inc. has the right not to consummate an AOG Transaction if the recipient would, following such AOG Transaction, be the beneficial owner of greater than 3.5% of the AOG Units. Athora The Company, through its consolidated subsidiary, ISGI, provides investment advisory services to certain portfolio companies of Apollo funds and Athora, a strategic platform that acquires or reinsures blocks of insurance business in the German and broader European life insurance market (collectively, the “Athora Accounts”). Athora Sub-Advised The Company, through ISGI, provides sub-advisory services with respect to a portion of the assets in certain portfolio companies of Apollo funds and the Athora Accounts. The Company broadly refers to “Athora Sub-Advised” assets as those assets in the Athora Accounts which the Company explicitly sub-advises as well as those assets in the Athora Accounts which are invested directly in funds and investment vehicles Apollo manages. With limited exceptions, the sub-advisory fee earned by the Company on the Athora Sub-Advised assets is 0.35% . AAA Investments Apollo, as general partner of AAA Investments, is generally entitled to performance allocations equal to 20% of the realized returns (net of related expenses, including borrowing costs) on AAA Investments’ investment in Athene Holding, except that Apollo is not entitled to receive any performance allocations with respect to the shares of Athene Holding that were acquired (and not in satisfaction of prior commitments to buy such shares) by AAA Investments in the contribution of certain assets by AAA to Athene in October 2012. The following table presents the performance allocations earned from AAA Investments: For the Years Ended December 31, 2019 2018 2017 Performance allocations from AAA Investments, net (1) $ 291 $ (5,158 ) 23,119 (1) Net of related profit sharing expense. The following table presents the revenues earned in aggregate from Athene, Athora and AAA Investments: For the Years Ended December 31, 2019 2018 2017 Revenues earned in aggregate from Athene, Athora and AAA Investments, net (1)(2) $ 788,066 $ 310,412 529,150 (1) Consisting of management fees, sub-advisory fees, performance revenues from Athene, Athora and AAA Investments, as applicable (net of related profit sharing expense) and changes in the market value of the Athene Holding shares owned directly by Apollo. These amounts exclude the deferred revenue recognized as management fees associated with the vesting of AHL Awards granted to employees of Apollo as further described in note 13 . (2) Gains (losses) on the market value of the shares of Athene Holding owned directly by Apollo were $137.2 million , $(186.6) million and $95.5 million for the years ended December 31, 2019 , 2018 and 2017 respectively. The following table presents performance allocations and profit sharing payable from AAA Investments: As of As of Performance allocations $ 2,005 $ 1,611 Profit sharing payable 550 442 As of December 31, 2019 and December 31, 2018 , the Company held a 11.3% and 10.2% ownership interest of the Class A Common Shares of Athene Holding, respectively. AAA Investments Credit Agreement On April 30, 2015, Apollo entered into a revolving credit agreement with AAA Investments (the “AAA Investments Credit Agreement”). Under the terms of the AAA Investments Credit Agreement, the Company shall make available to AAA Investments one or more advances at the discretion of AAA Investments in the aggregate amount not to exceed a balance of $10.0 million at an applicable rate of LIBOR plus 1.5% . The Company receives an annual commitment fee of 0.125% on the unused portion of the loan. As of December 31, 2019 and December 31, 2018 , $8.7 million and $6.7 million , respectively, had been advanced by the Company and remained outstanding on the AAA Investments Credit Agreement. AAA Investments was obligated to pay the aggregate borrowings plus accrued interest at the earlier of (a) the third anniversary of the closing date, or (b) the date that was fifteen months following the initial public offering of shares of Athene Holding (the “Maturity Date”). On January 30, 2019, the Company and AAA agreed to extend the maturity date of the AAA Investments Credit Agreement to December 31, 2020. AINV Amended and Restated Investment Advisory Management Agreement On May 17, 2018, the board of directors of AINV approved an amended and restated investment advisory management agreement with Apollo Investment Management, L.P., the Company’s consolidated subsidiary, which reduced the base management fee and revised the incentive fee on income to include a total return requirement. Effective April 1, 2018, the base management fee was reduced from 2.0% to 1.5% of the average value of AINV’s gross assets (excluding cash or cash equivalents but including other assets purchased with borrowed amounts) at the end of each of the two most recently completed calendar quarters; provided, however, the base management fee would be 1.0% of the average value of AINV’s gross assets (excluding cash or cash equivalents but including other assets purchased with borrowed amounts) that exceeds the product of (i) 200% and (ii) the value of AINV’s net asset value at the end of the most recently completed calendar quarter. In addition, beginning January 1, 2019, the incentive fee on income calculation included a total return requirement with a rolling twelve quarter look-back starting from April 1, 2018. The incentive fee rate remained 20% and the performance threshold remained 1.75% per quarter ( 7% annualized). Regulated Entities Apollo Global Securities, LLC (“AGS”) is a registered broker dealer with the SEC and is a member of the Financial Industry Regulatory Authority, subject to the minimum net capital requirements of the SEC. AGS was in compliance with these requirements at December 31, 2019

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Investment Commitments— As a limited partner, general partner and manager of the Apollo funds, Apollo had unfunded capital commitments as of December 31, 2019 and December 31, 2018 of $1.1 billion and $1.2 billion , respectively, of which $394 million and $469 million related to Fund IX as of December 31, 2019 and December 31, 2018 , respectively. Debt Covenants— Apollo’s debt obligations contain various customary loan covenants. As of December 31, 2019 , the Company was not aware of any instances of non-compliance with the financial covenants contained in the documents governing the Company’s debt obligations. Litigation and Contingencies- Apollo is, from time to time, party to various legal actions arising in the ordinary course of business including claims and lawsuits, reviews, investigations or proceedings by governmental and self-regulatory agencies regarding its business. On June 20, 2016 Banca Carige S.p.A. (“Carige”) commenced a lawsuit in the Court of Genoa (Italy) (No. 8965/2016), against its former Chairman, its former Chief Executive Officer, AGM Inc. and certain entities (the “Apollo Entities”) organized and owned by investment funds managed by affiliates of AGM Inc. The complaint alleged that AGM Inc. and the Apollo Entities (i) aided and abetted breaches of fiduciary duty to Carige allegedly committed by Carige’s former Chairman and former CEO in connection with the sale to the Apollo Entities of Carige subsidiaries engaged in the insurance business; and (ii) took wrongful actions aimed at weakening Carige’s financial condition supposedly to facilitate an eventual acquisition of Carige. The causes of action were based in tort under Italian law. Carige purportedly seeks damages of €450 million in connection with the sale of the insurance businesses and €800 million for other losses. With judgment no. 3118/2018 published on December 6, 2018, the Court of Genoa fully rejected all the claims raised by Carige against AGM Inc. and the Apollo Entities, also awarding attorneys' fees in their favor for an amount of €428,996.10 . Carige filed an appeal on January 3, 2019 before the Court of Appeal of Genoa. The Apollo Entities appeared in the proceedings requesting the Court to reject Carige’s appeal. On November 21, 2019 Carige and the Apollo Entities entered into a settlement agreement whereby, among other things, each party finally and irrevocably released and discharged the other parties from all their respective claims, actions and/or requests raised in the litigation. Accordingly, immediately after signing the settlement agreement Carige and the Apollo Entities filed with the Court a joint declaration whereby they reported to the Court that they had waived and withdrawn their respective claims. On December 12, 2016, the CORE Litigation Trust (the “Trust”), which was created under the Chapter 11 reorganization plan for CORE Media and other affiliated entities, including CORE Entertainment, Inc. (“CORE”), commenced an action in California Superior Court for Los Angeles County, captioned Core Litigation Trust v. Apollo Global Management, LLC, et al., Case No. BC 643732, that was stayed on October 3, 2017, in favor of litigating in New York state court. On November 9, 2017, the Trust commenced an action in the Supreme Court of the State of New York, captioned Core Litigation Trust v. Apollo Global Management, LLC, et al., Index No. 656856/2017. The complaint names as defendants: (i) AGM Inc. and certain AGM Inc. affiliates including the Apollo-managed funds that were CORE’s beneficial owners (the “CORE Funds”), (ii) Twenty-First Century Fox, Inc. (“Fox”) and certain Fox affiliates, (iii) Endemol USA Holding, Inc. (“Endemol”) and certain Endemol-affiliated entities, and (iv) the joint venture through which the CORE Funds and Fox beneficially owned CORE Media and Endemol Shine (the “JV”). The Trust asserts claims against (i) all defendants for tortiously interfering with $360 million in loans under the 2011 loan agreements entered into between CORE and certain Lenders, and (ii) certain defendants for alter-ego and de-facto merger. The Trust seeks $240 million in compensatory, unspecified punitive damages, pre-judgment interests, and costs and expenses. Under the parties’ agreement, dated as of August 19, 2019, to settle and release all of the Trust’s claims against Defendants, both the New York and California actions have been dismissed with prejudice. On August 3, 2017, a complaint was filed in the United States District Court for the Middle District of Florida against AGM Inc., a senior partner of Apollo and a former principal of Apollo by Michael McEvoy on behalf of a purported class of employees of subsidiaries of CEVA Group, LLC (“CEVA Group”) who purchased shares in CEVA Investment Limited (“CIL”), the former parent company of CEVA Group. The complaint alleged that the defendants breached fiduciary duties to and defrauded the plaintiffs by inducing them to purchase shares in CIL and subsequently participating in a debt restructuring of CEVA Group in which shareholders of CIL did not receive a recovery. On February 9, 2018, the Bankruptcy Court for the Southern District of New York held that the claims asserted in the complaint were assets of CIL, which is a chapter 7 debtor, and that the complaint was null and void as a violation of the automatic stay. McEvoy subsequently revised his complaint to attempt to assert claims that do not belong to CIL. The amended complaint no longer names any individual defendants, but Apollo Management VI, L.P. and CEVA Group have been added as defendants. The amended complaint purports to seek damages of approximately €30 million and asserts, among other things, claims for violations of the Investment Advisers Act of 1940, breach of fiduciary duties, and breach of contract. On December 7, 2018, after receiving permission from the Bankruptcy Court, McEvoy filed his amended complaint in the District Court in Florida. On January 18, 2019, Apollo filed a motion to dismiss the amended complaint. A hearing on that motion was held December 3, 2019. On January 6, 2020, the Florida court granted in part Apollo’s motion to dismiss, dismissing McEvoy’s Investment Advisers Act claim with prejudice, and denying without prejudice Apollo’s motion with respect to the remaining claims. The court also set a schedule for a summary judgment motion on the remaining claims based on the statute of limitations. On December 21, 2017, Harbinger Capital Partners II, LP, Harbinger Capital Partners Master Fund I, Ltd., Harbinger Capital Partners Special Situations Fund, L.P., Harbinger Capital Partners Special Situations GP, LLC, Harbinger Capital Partners Offshore Manager, L.L.C., Global Opportunities Breakaway Ltd. (in voluntary liquidation), and Credit Distressed Blue Line Master Fund, Ltd. (collectively, “Harbinger”) commenced an action in New York Supreme Court captioned Harbinger Capital Partners II LP et al. v. Apollo Global Management LLC, et al. (No. 657515/2017). The complaint names as defendants (i) AGM Inc., (ii) the funds managed by Apollo that invested in SkyTerra Communications, Inc. (“SkyTerra”) equity before selling their interests to Harbinger under an April 2008 agreement that closed in 2010, and (iii) six former SkyTerra directors, five of whom are current or former Apollo employees. The complaint alleges that during the period of Harbinger’s various equity and debt investments in SkyTerra, from 2004 to 2010, the defendants concealed from Harbinger material defects in SkyTerra technology that was to be used to create a new mobile wi-fi network. The complaint alleges that Harbinger would not have made investments in SkyTerra totaling approximately $1.9 billion had it known of the defects, and that the public disclosure of these defects ultimately led to SkyTerra filing for bankruptcy in 2012 (after it had been renamed LightSquared). The complaint asserts claims against (i) all defendants for fraud, civil conspiracy, and negligent misrepresentation, (ii) AGM Inc. and the Apollo-managed funds only for breach of fiduciary duty, breach of contract, and unjust enrichment, and (iii) the SkyTerra director defendants only for aiding and abetting breach of fiduciary duty. The complaint seeks $1.9 billion in damages, as well as punitive damages, interest, costs, and fees. This action was stayed from February 14, 2018, through June 12, 2019. On February 14, 2018, the defendants moved the United States Bankruptcy Court for the Southern District of New York to reopen the LightSquared bankruptcy proceeding for the limited purpose of enforcing Harbinger’s assignment and release in that bankruptcy of the claims that it asserts in the New York state court action. Briefing and hearing on this motion were adjourned while the state court stay was pending. On June 12, 2019, Harbinger voluntarily discontinued the state action without prejudice subject to a tolling agreement. On June 12, 2019, Apollo voluntarily withdrew its bankruptcy court motion subject to a right to refile the motion if Harbinger were to refile the state court action. Apollo believes these claims are without merit. Because this action is in its early stages, no reasonable estimate of possible loss, if any, can be made at this time. Five shareholders filed substantially similar putative class action lawsuits in the Circuit Court of the Fifteenth Judicial Circuit in and for Palm Beach County, Florida in March, April, and May 2018, alleging violations of the Securities Act in connection with the January 19, 2018 IPO of ADT Inc. common stock. The actions were consolidated on July 10, 2018, and the case was re-captioned In re ADT Inc. Shareholder Litigation. On August 24, 2018, the state-court plaintiffs filed a consolidated complaint naming as defendants ADT Inc., several ADT officers and directors, the IPO underwriters (including Apollo Global Securities, LLC), AGM Inc. and certain other Apollo affiliates. Plaintiffs generally allege that the registration statement and prospectus for the IPO contained false and misleading statements and failed to disclose material information about certain litigation in which ADT was involved, ADT’s efforts to protect its intellectual property, and competitive pressures ADT faced. Defendants filed motions to dismiss the consolidated complaint on October 23, 2018, and those motions are fully briefed. On May 21, 2018, a similar shareholder class action lawsuit was filed in the United States District Court for the Southern District of Florida, naming as defendants ADT, several officers and directors, and AGM Inc. The federal action, captioned Perdomo v. ADT Inc., generally alleges that the registration statement was materially misleading because it failed to disclose ongoing deterioration in ADT’s financial results, along with certain customer and business metrics. On July 20, 2018, several alleged ADT shareholders filed competing motions to be named lead plaintiff in the federal action. On November 20, 2018, the court appointed a lead plaintiff, and on January 15, 2019, the lead plaintiff filed an amended complaint. The amended complaint names the same Apollo-affiliated defendants as the state-court action, along with three new Apollo entities. Defendants filed motions to dismiss on March 25, 2019, and those motions are fully briefed. On July 26, 2019, the state court denied defendants’ motions to dismiss, except it reserved judgment on the question whether it has personal jurisdiction over certain defendants, including the Apollo defendants. On September 12, 2019, all parties to the state and federal actions reached a settlement in principle that would resolve both actions. The plaintiffs in the federal action voluntarily dismissed their action on October 28, 2019, and the settlement will be submitted to the state court for approval. The settlement requires no payment from any Apollo defendants. On May 3, 2018, Caldera Holdings Ltd, Caldera Life Reinsurance Company, and Caldera Shareholder, L.P. (collectively, “Caldera”) filed a summons with notice in the Supreme Court of the State of New York, New York County, naming as defendants AGM Inc., Apollo Management, L.P., Apollo Advisors VIII, L.P., Apollo Capital Management VIII, LLC, Athene Asset Management, L.P., Athene Holding, Ltd., and Leon Black (collectively, “Defendants” and all but Athene Holding, Ltd., the “Apollo Defendants”). On July 12, 2018, Caldera filed a complaint, Index No. 652175/2018 (the “Complaint”), alleging three causes of action: (1) tortious interference with prospective business relations/prospective economic advantage; (2) defamation/trade disparagement/injurious falsehood; and (3) unfair competition. The Complaint sought damages of no less than $1.5 billion , as well as exemplary and punitive damages, attorneys’ fees, interest, and an injunction. Defendants have moved to dismiss the Complaint on September 21, 2018 and Caldera filed an amended complaint on January 21, 2019 (the “Amended Complaint”). Defendants moved to dismiss the Amended Complaint, and the Apollo Defendants submitted to the Court a Final Arbitration Award issued on April 26, 2019 in a JAMS arbitration, finding Caldera, Imran Siddiqui, and Ming Dang liable for various causes of action, including breaches of fiduciary duty and/or aiding and abetting thereof. Oral argument on the motions to dismiss was held on May 31, 2019. On December 20, 2019, the Court issued a Decision and Order dismissing Caldera’s complaint in its entirety as against all Defendants. On December 23, 2019, the Apollo Defendants filed a Notice of Entry of the Decision and Order. On January 8, 2020, Caldera filed a Notice of Appeal. On March 7, 2019, plaintiff Elizabeth Morrison filed an amended complaint in an action captioned Morrison v. Ray Berry, et. al., Case No. 12808-VCG, pending in the Chancery Court for the State of Delaware, adding as defendants AGM Inc. and certain AGM Inc. affiliates. The original complaint had only named as defendants certain officers and directors (the “TFM defendants”) of The Fresh Market, Inc. (“TFM”), claiming that those defendants breached their fiduciary duties to the TFM shareholders in connection with their consideration and approval of a merger agreement between TFM and certain entities affiliated with Apollo, including by engaging in a sale process that improperly favored AGM Inc., and/or Apollo Management VIII, L.P., by agreeing to an inadequate price and by filing materially deficient disclosures regarding the transaction. In addition to AGM Inc., the amended complaint added as defendants Apollo Overseas Partners (Delaware 892) VIII, L.P., Apollo Overseas Partners (Delaware) VIII, L.P., Apollo Overseas Partners VIII, L.P., Apollo Management VIII, L.P., AIF VIII Management, LLC, Apollo Management, L.P., Apollo Management GP, LLC, Apollo Management Holdings, L.P., Apollo Management Holdings GP, LLC, APO Corp., AP Professional Holdings, L.P., Apollo Advisors VIII, L.P., Apollo Investment Fund VIII, L.P., and Pomegranate Holdings, Inc., and other defendants. The amended complaint alleges that the Apollo defendants aided and abetted the breaches of fiduciary duties by the TFM defendants. After the defendants moved to dismiss the complaint on May 1, 2019, Plaintiff filed a second amended complaint on June 3, 2019, maintaining the same claim against the same Apollo defendants as the prior complaint. Defendants moved to dismiss the second amended complaint on July 12, 2019. On December 31, 2019, the Court issued a decision dismissing certain of the TFM defendants while denying the motions of others. The Court deferred ruling on the motions filed by several defendants, including the Apollo-affiliated defendants. Those defendants for whom ruling was deferred submitted supplemental briefs in support of dismissal on January 31, 2020 with briefing to be completed by February 24. Apollo believes the claims in this action are without merit. Because this action is in the early stages, no reasonable estimate of possible loss, if any, can be made at this time. On October 21, 2019, a putative class action complaint was filed in the Court of Chancery of the State of Delaware against Presidio, Inc. (“Presidio”), all of the members of Presidio’s board of directors (including five directors who are affiliated with Apollo), and BC Partners Advisors L.P. and Port Merger Sub, Inc. (together, “BCP”) challenging the then-pending acquisition of Presidio by BCP (the “Merger”). The action is captioned Firefighters Pension System of City of Kansas City, Missouri Trust v. Presidio, Inc. et al, C.A. No. 2019-0839-JTL. The original complaint alleged that the Presidio directors breached their fiduciary duties in connection with the negotiation of the Merger and that the disclosures Presidio made in its filings with the SEC in connection with the Merger omitted material information, and that BCP aided and abetted those alleged breaches. On November 5, 2019, the Court of Chancery held a hearing on a motion by plaintiffs to preliminarily enjoin the stockholder vote and denied that motion. On January 28, 2020, following the closing of the Merger, plaintiffs filed an amended class action complaint, adding as defendants AGM Inc. and AP VIII Aegis Holdings, L.P. (together, the “Apollo Defendants”) and LionTree Advisors, LLC (Presidio’s financial advisor in connection with the Merger). The amended complaint alleges, among other things, that the Presidio directors breached their fiduciary duties in connection with the Merger, that the filings with the SEC in connection with the Merger omitted material information, that the Apollo Defendants were controlling stockholders of Presidio and breached their alleged fiduciary duties to Presidio’s public stockholders, and that BCP, LionTree and the Apollo Defendants aided and abetted breaches of fiduciary duties. The amended complaint seeks, among other relief, declaratory relief, class certification, and unspecified money damages. The defendants have filed motions to dismiss the amended complaint. Apollo believes the claims in this action are without merit. Because this action is in the early stages, no reasonable estimate of possible loss, if any, can be made at this time. On November 1, 2019, plaintiff Benjamin Fongers filed a putative class action in Illinois Circuit Court, Cook County, against CareerBuilder, LLC (“CareerBuilder”) and AGM Inc. Plaintiff alleges that in March 2019, CareerBuilder changed its compensation plan so that sales representatives such as Fongers would (i) receive reduced commissions; and (ii) only be able to receive commissions for accounts they originated that were not reassigned to anyone else, a departure from the earlier plan. Plaintiff also claims that the plan applied retroactively to deprive sales representatives of commissions to which they were earlier entitled. Plaintiff alleges that AGM Inc. exercises complete control over CareerBuilder and thus, CareerBuilder acts as AGM Inc.’s agent. Based on these allegations, Plaintiff alleges claims against both defendants for breach of written contract, breach of implied contract, unjust enrichment, violation of the Illinois Sales Representative Act, and violation of the Illinois Wage and Payment Collection Act. The defendants removed the action to the Northern District of Illinois on December 5, 2019, and Plaintiff moved to remand on January 6, 2020. That motion has not yet been fully briefed. Defendants’ deadline to respond to the complaint is 21 days after the court rules on the remand motion. Apollo believes the claims in this action are without merit. Because this action is in the early stages, no reasonable estimate of possible loss, if any, can be made at this time. Commitments and Contingencies— Other long-term obligations relate to payments with respect to certain consulting agreements entered into by Apollo Investment Consulting LLC, a subsidiary of Apollo, as well as long-term service contracts. A significant portion of these costs are reimbursable by funds or portfolio companies. As of December 31, 2019 , fixed and determinable payments due in connection with these obligations were as follows: 2020 2021 2022 2023 2024 Thereafter Total Other long-term obligations $ 16,959 $ 1,871 $ 906 $ 673 $ 673 $ 673 $ 21,755 Contingent Obligations— Performance allocations with respect to certain funds are subject to reversal in the event of future losses to the extent of the cumulative revenues recognized in income to date. If all of the existing investments became worthless, the amount of cumulative revenues that have been recognized by Apollo through December 31, 2019 and that would be reversed approximates $2.6 billion . Management views the possibility of all of the investments becoming worthless as remote. Performance allocations are affected by changes in the fair values of the underlying investments in the funds that Apollo manages. Valuations, on an unrealized basis, can be significantly affected by a variety of external factors including, but not limited to, bond yields and industry trading multiples. Movements in these items can affect valuations quarter to quarter even if the underlying business fundamentals remain stable. Additionally, at the end of the life of certain funds that the Company manages, there could be a payment due to a fund by the Company if the Company, as general partner, has received more performance allocations than was ultimately earned. The general partner obligation amount, if any, will depend on final realized values of investments at the end of the life of each fund or as otherwise set forth in the respective limited partnership agreement of the fund. See note 15 to our consolidated financial statements for further details regarding the general partner obligation. Certain funds may not generate performance allocations as a result of unrealized and realized losses that are recognized in the current and prior reporting period. In certain cases, performance allocations will not be generated until additional unrealized and realized gains occur. Any appreciation would first cover the deductions for invested capital, unreturned organizational expenses, operating expenses, management fees and priority returns based on the terms of the respective fund agreements. One of the Company’s subsidiaries, AGS, provides underwriting commitments in connection with securities offerings to the portfolio companies of the funds Apollo manages. As of December 31, 2019 , there were no underwriting commitments. Contingent Consideration— In connection with the acquisition of Stone Tower in April 2012, the Company agreed to pay the former owners of Stone Tower a specified percentage of any future performance revenues earned from certain of the Stone Tower funds, CLOs, and strategic investment accounts. This contingent consideration liability was determined based on the present value of estimated future performance revenue payments, and is recorded in profit sharing payable in the consolidated statements of financial condition. The fair value of the remaining contingent obligation was $112.5 million and $74.5 million as of December 31, 2019 and December 31, 2018 , respectively. The contingent consideration obligations will be remeasured to fair value at each reporting period until the obligations are satisfied and are characterized as Level III liabilities. The changes in the fair value of the contingent consideration obligations is reflected in profit sharing expense in the consolidated statements of operations. See note 7 for further information regarding fair value measurements.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Apollo conducts its business primarily in the United States through three reportable segments: credit, private equity and real assets. Segment information is utilized by our Managing Partners, who operate collectively as our chief operating decision maker, to assess performance and to allocate resources. These segments were established based on the nature of investment activities in each underlying fund, including the specific type of investment made and the level of control over the investment. The performance is measured by the Company’s chief operating decision maker on an unconsolidated basis because management makes operating decisions and assesses the performance of each of Apollo’s business segments based on financial and operating metrics and data that exclude the effects of consolidation of any of the affiliated funds. Segment Reporting Changes During the first quarter of 2019, Apollo’s chief operating decision maker determined that Segment Distributable Earnings, together with its main components including Fee Related Earnings, is the key performance measure used by management in evaluating the performance of Apollo’s credit, private equity and real assets segments. Accordingly, Apollo will no longer report Economic Income. Apollo believes these changes better reflect the manner in which it makes key operating decisions pertaining to resource allocation, capital deployment, budgeting and forecasting, and are consistent with what stockholders consider to be most important in evaluating its performance. Apollo determined to change the business segment in which it reports certain funds and accounts to align its segment reporting with the manner in which such funds and accounts were managed. Effective January 1, 2019, the European Principal Finance Fund series, which has been historically reported in the credit segment, moved to the real assets segment. Several funds and accounts that generally invest in illiquid opportunistic investments and the latest fund in the Credit Opportunity Fund series, which have been historically reported in the credit segment, moved to the private equity segment. Certain commercial real estate mortgage loan assets, previously reported in the credit segment, moved to the real assets segment. These changes affected the composition, but not the determination, of Apollo’s reporting segments. Apollo changed its definition of “Distributable Earnings” to include depreciation and amortization expenses and renamed it “Segment Distributable Earnings.” Historically, depreciation and amortization expenses were not reflected in Apollo’s calculation of Segment Distributable Earnings. Apollo also renamed “Distributable Earnings after Taxes and Related Payables” to “Distributable Earnings.” In connection with these changes, all prior periods have been recast to conform to the new presentation. Consequently, this information will be different from the historical segment financial results previously reported by Apollo in its reports filed with the SEC. Segment Distributable Earnings Segment Distributable Earnings, or “Segment DE”, is the key performance measure used by management in evaluating the performance of Apollo’s credit, private equity and real assets segments. Management believes the components of Segment DE, such as the amount of management fees, advisory and transaction fees and realized performance fees, are indicative of the Company’s performance. Management uses Segment DE in making key operating decisions such as the following: • Decisions related to the allocation of resources such as staffing decisions including hiring and locations for deployment of the new hires; • Decisions related to capital deployment such as providing capital to facilitate growth for the business and/or to facilitate expansion into new businesses; • Decisions related to expenses, such as determining annual discretionary bonuses and equity-based compensation awards to its employees. With respect to compensation, management seeks to align the interests of certain professionals and selected other individuals with those of the investors in the funds and those of Apollo’s stockholders by providing such individuals a profit sharing interest in the performance fees earned in relation to the funds. To achieve that objective, a certain amount of compensation is based on Apollo’s performance and growth for the year; and • Decisions related to the amount of earnings available for dividends to Class A Common Stockholders, holders of RSUs that participate in dividends and holders of AOG Units. Segment DE is a measure of profitability and has certain limitations in that it does not take into account certain items included under U.S. GAAP. Segment DE represents the amount of Apollo’s net realized earnings, excluding the effects of the consolidation of any of the related funds, taxes and related payables, transaction-related charges and any acquisitions. Transaction-related charges includes equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. In addition, Segment DE excludes non-cash revenue and expense related to equity awards granted by unconsolidated related parties to employees of the Company, compensation and administrative related expense reimbursements, as well as the assets, liabilities and operating results of the funds and variable interest entities that are included in the consolidated financial statements. We believe the exclusion of the non-cash charges related to the 2007 Reorganization for equity-based compensation provides investors with a meaningful indication of our performance because these charges relate to the equity portion of our capital structure and not our core operating performance. Segment DE also excludes impacts of the remeasurement of the tax receivable agreement liability recorded in other income, which arises from changes in the associated deferred tax balance. Segment DE may not be comparable to similarly titled measures used by other companies and is not a measure of performance calculated in accordance with U.S. GAAP. We use Segment DE as a measure of operating performance, not as a measure of liquidity. Segment DE should not be considered in isolation or as a substitute for net income or other income data prepared in accordance with U.S. GAAP. The use of Segment DE without consideration of related U.S. GAAP measures is not adequate due to the adjustments described above. Management compensates for these limitations by using Segment DE as a supplemental measure to U.S. GAAP results, to provide a more complete understanding of our performance as management measures it. A reconciliation of Segment DE to its most directly comparable U.S. GAAP measure of income (loss) before income tax provision can be found in this footnote. Fee Related Earnings Fee Related Earnings (“FRE”) is derived from our segment reported results and refers to a component of Segment DE that is used as a supplemental performance measure to assess whether revenues that we believe are generally more stable and predictable in nature, primarily consisting of management fees, are sufficient to cover associated operating expenses and generate profits. FRE is the sum across all segments of (i) management fees, (ii) advisory and transaction fees, (iii) performance fees earned from business development companies and Redding Ridge Holdings LP (“Redding Ridge Holdings”), an affiliate of Redding Ridge and (iv) other income, net, less (x) salary, bonus and benefits, excluding equity-based compensation, (y) other associated operating expenses and (z) non-controlling interests in the management companies of certain funds the Company manages. The following tables present financial data for Apollo’s reportable segments. As of and for the Year Ended December 31, 2019 Credit Segment Private Equity Segment Real Assets Segment Total Reportable Segments Management fees $ 779,266 $ 523,194 $ 188,610 $ 1,491,070 Advisory and transaction fees, net 44,116 71,324 7,450 122,890 Performance fees (1) 21,110 — — 21,110 Fee Related Revenues 844,492 594,518 196,060 1,635,070 Salary, bonus and benefits (196,143 ) (184,403 ) (82,770 ) (463,316 ) General, administrative and other (131,664 ) (99,098 ) (42,242 ) (273,004 ) Placement fees (272 ) (812 ) (1 ) (1,085 ) Fee Related Expenses (328,079 ) (284,313 ) (125,013 ) (737,405 ) Other income, net of Non-Controlling Interest 54 4,306 177 4,537 Fee Related Earnings 516,467 314,511 71,224 902,202 Realized performance fees 169,611 429,152 3,343 602,106 Realized profit sharing expense (93,675 ) (195,140 ) (1,437 ) (290,252 ) Net Realized Performance Fees 75,936 234,012 1,906 311,854 Realized principal investment income, net (2) 8,764 53,782 3,151 65,697 Net interest loss and other (21,997 ) (31,804 ) (11,525 ) (65,326 ) Segment Distributable Earnings (3) $ 579,170 $ 570,501 $ 64,756 $ 1,214,427 Total Assets (3) $ 3,133,685 $ 3,296,742 $ 907,090 $ 7,337,517 (1) Represents certain performance fees from business development companies and Redding Ridge Holdings. (2) Realized principal investment income, net includes dividends from our permanent capital vehicles, net of such amounts used to compensate employees. (3) Refer below for a reconciliation of total revenues, total expenses, other loss and total assets for Apollo’s total reportable segments to total consolidated revenues, total consolidated expenses, total consolidated other income (loss) and total assets. As of and for the Year Ended December 31, 2018 Credit Private Equity Real Assets Total Reportable Management fees $ 642,331 $ 477,185 $ 163,172 $ 1,282,688 Advisory and transaction fees, net 8,872 89,602 13,093 111,567 Performance fees (1) 28,390 — — 28,390 Fee Related Revenues 679,593 566,787 176,265 1,422,645 Salary, bonus and benefits (180,448 ) (160,512 ) (74,002 ) (414,962 ) General, administrative and other (119,450 ) (79,450 ) (40,391 ) (239,291 ) Placement fees (1,130 ) (585 ) (407 ) (2,122 ) Fee Related Expenses (301,028 ) (240,547 ) (114,800 ) (656,375 ) Other income, net of Non-Controlling Interest 1,104 1,923 1,942 4,969 Fee Related Earnings 379,669 328,163 63,407 771,239 Realized performance fees (2) 45,139 279,078 55,971 380,188 Realized profit sharing expense (2) (36,079 ) (156,179 ) (33,371 ) (225,629 ) Net Realized Performance Fees 9,060 122,899 22,600 154,559 Realized principal investment income 19,199 43,150 7,362 69,711 Net interest loss and other (13,619 ) (20,081 ) (8,330 ) (42,030 ) Segment Distributable Earnings (3) $ 394,309 $ 474,131 $ 85,039 $ 953,479 Total Assets (2) $ 2,160,190 $ 2,107,376 $ 524,080 $ 4,791,646 (1) Represents certain performance fees from business development companies and Redding Ridge Holdings. (2) Excludes realized performance fees and realized profit sharing expense settled in the form of shares of Athene Holding during the year ended December 31, 2018. (3) Refer below for a reconciliation of total revenues, total expenses, other income (loss) and total assets for Apollo’s total reportable segments to total consolidated revenues, total consolidated expenses and total consolidated other income (loss). For the Year Ended December 31, 2017 Credit Private Equity Real Assets Total Reportable Management fees 555,586 356,208 170,521 1,082,315 Advisory and transaction fees, net 30,325 84,216 3,083 117,624 Performance fees (1) 17,666 — — 17,666 Fee Related Revenues 603,577 440,424 173,604 1,217,605 Salary, bonus and benefits (172,152 ) (144,391 ) (77,612 ) (394,155 ) General, administrative and other (107,617 ) (81,058 ) (39,904 ) (228,579 ) Placement fees (1,073 ) (4,238 ) (8,602 ) (13,913 ) Fee Related Expenses (280,842 ) (229,687 ) (126,118 ) (636,647 ) Other income, net of Non-Controlling Interest 11,285 27,843 4,327 43,455 Fee Related Earnings 334,020 238,580 51,813 624,413 Realized performance fees (2) 91,982 445,923 93,454 631,359 Realized profit sharing expense (2) (34,409 ) (193,489 ) (50,940 ) (278,838 ) Net Realized Performance Fees 57,573 252,434 42,514 352,521 Realized principal investment income 19,249 44,087 4,906 68,242 Net interest loss and other (16,638 ) (23,131 ) (8,584 ) (48,353 ) Segment Distributable Earnings (3) 394,204 511,970 90,649 996,823 The following table reconciles total consolidated revenues to total revenues for Apollo’s reportable segments: For the Years Ended December 31, 2019 2018 2017 Total Consolidated Revenues $ 2,931,849 $ 1,093,065 $ 2,771,803 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (102,672 ) (81,892 ) (75,940 ) Adjustments related to consolidated funds and VIEs (1) 12,854 16,386 4,617 Performance fees (2) (1,036,688 ) 402,700 (1,319,924 ) Principal investment income (170,273 ) (7,614 ) (162,951 ) Total Fee Related Revenues 1,635,070 1,422,645 1,217,605 Realized performance fees (3) 602,106 380,188 631,359 Realized principal investment income, net and other 62,328 66,342 64,873 Total Segment Revenues $ 2,299,504 $ 1,869,175 $ 1,913,837 (1) Represents advisory fees, management fees and performance fees earned from consolidated VIEs which are eliminated in consolidation. Includes non-cash revenues related to equity awards granted by unconsolidated related parties to employees of the Company and certain compensation and administrative related expense reimbursements. (2) Excludes certain performance fees from business development companies and Redding Ridge Holdings. (3) Excludes realized performance fees settled in the form of shares of Athene Holding during the year ended December 31, 2018 . The following table reconciles total consolidated expenses to total expenses for Apollo’s reportable segments: For the Years Ended December 31, 2019 2018 2017 Total Consolidated Expenses $ 1,691,280 $ 902,939 $ 1,360,049 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (103,292 ) (82,724 ) (75,940 ) Reclassification of interest expenses (98,369 ) (59,374 ) (52,873 ) Transaction-related charges, net (1) (49,213 ) 5,631 (17,498 ) Charges associated with corporate conversion (2) (21,987 ) — — Equity-based compensation (70,962 ) (68,229 ) (64,954 ) Total profit sharing expense (3) (594,052 ) (41,868 ) (512,137 ) Dividend-related compensation expense (16,000 ) — — Total Fee Related Expenses 737,405 656,375 636,647 Realized profit sharing expense (4) 290,252 225,629 278,838 Total Segment Expenses $ 1,027,657 $ 882,004 $ 915,485 (1) Represents the addition of expenses of consolidated funds and VIEs, transaction-related charges, non-cash expenses related to equity awards granted by unconsolidated related parties to employees of the Company and certain compensation and administrative expenses. Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. (2) Represents expenses incurred in relation to the Conversion, as described in note 1 . (3) Includes unrealized profit sharing expense, realized profit sharing expense and equity based profit sharing expense and other. (4) Excludes realized profit sharing expense settled in the form of shares of Athene Holding during the year ended December 31, 2018 . The following table reconciles total consolidated other income (loss) to total other loss for Apollo’s reportable segments: For the Years Ended December 31, 2019 2018 2017 Total Consolidated Other Income (Loss) $ 167,280 $ (84,854 ) $ 357,830 Adjustments related to consolidated funds and VIEs (1) (38,607 ) (43,858 ) (9,131 ) Loss from change in tax receivable agreement liability 50,307 (35,405 ) (200,240 ) Net (gains) losses from investment activities (138,117 ) 186,426 (94,774 ) Interest income and other, net of Non-Controlling Interest (36,326 ) (17,340 ) (10,230 ) Other Income, net of Non-Controlling Interest 4,537 4,969 43,455 Net interest loss and other (61,957 ) (38,661 ) (44,984 ) Total Segment Other Loss $ (57,420 ) $ (33,692 ) $ (1,529 ) (1) Represents the addition of other income of consolidated funds and VIEs. The following table presents the reconciliation of income before income tax provision reported in the consolidated statements of operations to Segment Distributable Earnings: For the Years Ended December 31, 2019 2018 2017 Income before income tax provision $ 1,407,849 $ 105,272 $ 1,769,584 Transaction-related charges (1) 49,213 (5,631 ) 17,496 Charges associated with corporate conversion (2) 21,987 — — (Loss) gain from change in tax receivable agreement liability 50,307 (35,405 ) (200,240 ) Net income attributable to Non-Controlling Interests in consolidated entities (30,504 ) (31,648 ) (8,891 ) Unrealized performance fees (3) (434,582 ) 782,888 (688,565 ) Unrealized profit sharing expense (3) 207,592 (274,812 ) 226,319 Equity-based profit sharing expense and other (4) 96,208 91,051 6,980 Equity-based compensation 70,962 68,229 64,954 Unrealized principal investment (income) loss (88,576 ) 62,097 (94,709 ) Unrealized net (gains) losses from investment activities and other (136,029 ) 191,438 (96,105 ) Segment Distributable Earnings $ 1,214,427 $ 953,479 $ 996,823 (1) Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. (2) Represents expenses incurred in relation to the Conversion, as described in note 1 . (3) Includes realized performance fees and realized profit sharing expense settled in the form of shares of Athene Holding during the year ended December 31, 2018 . (4) Equity-based profit sharing expense and other includes certain profit sharing arrangements in which a portion of performance fees distributed to the general partner are allocated by issuance of equity-based awards, rather than cash, to employees of Apollo. Equity-based profit sharing expense and other also includes non-cash expenses related to equity awards granted by unconsolidated related parties to employees of Apollo. The following table presents the reconciliation of Apollo’s total reportable segment assets to total assets: As of As of Total reportable segment assets $ 7,337,517 $ 4,791,646 Adjustments (1) 1,204,600 1,200,008 Total assets $ 8,542,117 $ 5,991,654 (1) Represents the addition of assets of consolidated funds and VIEs and consolidation elimination adjustments.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 30, 2020 , the Company declared a cash dividend of $0.89 per share of Class A Common Stock, which will be paid on February 28, 2020 to holders of record at the close of business on February 11, 2020 . On January 30, 2020 , the Company declared a cash dividend of $0.398438 per share of Series A Preferred Stock and Series B Preferred Stock, which will be paid on March 16, 2020 to holders of record at the close of business on February 28, 2020 .

QUARTERLY FINANCIAL DATA (UNAUD

QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED)	QUARTERLY FINANCIAL DATA (UNAUDITED) For the Three Months Ended March 31, June 30, September 30, December 31, 2019 Revenues $ 677,777 $ 636,579 $ 702,721 $ 914,772 Expenses 378,017 342,525 371,372 599,366 Other Income (Loss) 35,461 65,004 (42,151 ) 108,966 Income Before Provision for Taxes $ 335,221 $ 359,058 $ 289,198 $ 424,372 Net Income $ 315,567 $ 342,161 $ 521,094 $ 358,021 Net Income Attributable to Apollo Global Management, Inc. Class A Common Stockholders $ 139,893 $ 155,659 $ 354,106 $ 156,879 Net Income per Class A Common Stock – Basic $ 0.67 $ 0.75 $ 1.64 $ 0.68 Net Income per Class A Common Stock – Diluted $ 0.67 $ 0.75 $ 1.63 $ 0.68 For the Three Months Ended March 31, June 30, September 30, December 31, 2018 Revenues $ 166,903 $ 523,316 $ 517,731 $ (114,885 ) Expenses 214,875 301,394 312,727 73,943 Other Income (Loss) (52,796 ) (59,188 ) 176,780 (149,650 ) Income (Loss) Before Provision for Taxes $ (100,768 ) $ 162,734 $ 381,784 $ (338,478 ) Net Income (Loss) $ (109,348 ) $ 143,810 $ 362,692 $ (377,903 ) Net Income (Loss) Attributable to Apollo Global Management, LLC Class A Shareholders $ (62,645 ) $ 54,658 $ 162,357 $ (196,408 ) Net Income (Loss) per Class A Share - Basic $ (0.34 ) $ 0.25 $ 0.77 $ (1.00 ) Net Income (Loss) per Class A Share - Diluted $ (0.34 ) $ 0.25 $ 0.77 $ (1.00 )

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Organization of the Company	Organization of the Company Effective September 5, 2019, Apollo Global Management, Inc. converted from a Delaware limited liability company named Apollo Global Management, LLC to a Delaware corporation named Apollo Global Management, Inc. (the “Conversion”). The Company was formed as a Delaware limited liability company on July 3, 2007, and, until the Conversion, was managed by AGM Management, LLC, which is indirectly wholly-owned and controlled by Leon Black, Joshua Harris and Marc Rowan, its Managing Partners. As of December 31, 2019 , the Company owned, through six intermediate holding companies that include APO Corp., a Delaware corporation that is a domestic corporation for U.S. federal income tax purposes, APO Asset Co., LLC, a Delaware limited liability company that is treated as a corporation for U.S. federal income tax purposes, APO (FC), LLC, an Anguilla limited liability company that is disregarded entity for U.S. federal income tax purposes, APO (FC II), LLC, an Anguilla limited liability company that is disregarded entity for U.S. federal income tax purposes, APO UK (FC), Limited, a United Kingdom incorporated company that is treated as a corporation for U.S. federal income tax purposes, and APO (FC III), LLC, a Cayman Islands limited liability company that is a disregarded entity for US Federal Income tax purposes (collectively, the “Intermediate Holding Companies”), 55.3% of the economic interests of, and operated and controlled all of the businesses and affairs of, the Apollo Operating Group through its wholly owned subsidiaries. AP Professional Holdings, L.P., a Cayman Islands exempted limited partnership (“Holdings”), is the entity through which the Managing Partners and certain of the Company’s other partners (the “Contributing Partners”) indirectly beneficially own interests in each of the entities that comprise the Apollo Operating Group. As of December 31, 2019 , Holdings owned the remaining 44.7% of the economic interests in the Apollo Operating Group. The Company consolidates the financial results of the Apollo Operating Group and its consolidated subsidiaries. Holdings’ ownership interest in the Apollo Operating Group is reflected as a Non-Controlling Interest in the accompanying consolidated financial statements.
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company, its wholly-owned or majority-owned subsidiaries, the consolidated entities which are considered to be variable interest entities (“VIEs”) and for which the Company is considered the primary beneficiary, and certain entities which are not considered VIEs but which the Company controls through a majority voting interest. Intercompany accounts and transactions, if any, have been eliminated upon consolidation. Certain reclassifications, when applicable, have been made to the prior periods’ consolidated financial statements and notes to conform to the current period’s presentation and are disclosed accordingly.
Consolidation	Consolidation The types of entities with which Apollo is involved generally include subsidiaries (e.g., general partners and management companies related to the funds the Company manages), entities that have all the attributes of an investment company (e.g., funds) and securitization vehicles (e.g., CLOs). Each of these entities is assessed for consolidation on a case by case basis depending on the specific facts and circumstances surrounding that entity. Pursuant to the consolidation guidance, the Company first evaluates whether it holds a variable interest in an entity. Fees that are customary and commensurate with the level of services provided, and where the Company does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered a variable interest. Apollo factors in all economic interests including proportionate interests through related parties, to determine if such interests are considered a variable interest. As Apollo’s interests in many of these entities are solely through market rate fees and/or insignificant indirect interests through related parties, Apollo is not considered to have a variable interest in many of these entities and no further consolidation analysis is performed. For entities where the Company has determined that it does hold a variable interest, the Company performs an assessment to determine whether each of those entities qualify as a VIE. The determination as to whether an entity qualifies as a VIE depends on the facts and circumstances surrounding each entity and therefore certain of Apollo’s funds may qualify as VIEs under the variable interest model whereas others may qualify as voting interest entities (“VOEs”) under the voting interest model. The granting of substantive kick-out rights is a key consideration in determining whether a limited partnership or similar entity is a VIE and whether or not that entity should be consolidated. Under the variable interest model, Apollo consolidates those entities where it is determined that the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it has a controlling financial interest in the VIE, which is defined as possessing both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. When Apollo alone is not considered to have a controlling financial interest in the VIE but Apollo and its related parties under common control in the aggregate have a controlling financial interest in the VIE, Apollo will be deemed the primary beneficiary if it is the party that is most closely associated with the VIE. When Apollo and its related parties not under common control in the aggregate have a controlling financial interest in the VIE, Apollo would be deemed to be the primary beneficiary if substantially all the activities of the entity are performed on behalf of Apollo. Apollo determines whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion continuously. Investments and redemptions (either by Apollo, related parties of Apollo or third parties) or amendments to the governing documents of the respective entity may affect an entity’s status as a VIE or the determination of the primary beneficiary. Assets and liabilities of the consolidated VIEs are primarily shown in separate sections within the consolidated statements of financial condition. Changes in the fair value of the consolidated VIEs’ assets and liabilities and related interest, dividend and other income and expenses are presented within net gains from investment activities of consolidated variable interest entities in the consolidated statements of operations. The portion attributable to Non-Controlling Interests is reported within net income attributable to Non-Controlling Interests in the consolidated statements of operations. For additional disclosures regarding VIEs, see note 6 . Under the voting interest model, Apollo consolidates those entities it controls through a majority voting interest. Apollo does not consolidate those VOEs in which substantive kick-out rights have been granted to the unrelated investors to either dissolve the fund or remove the general partner.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents Apollo considers all highly liquid short-term investments with original maturities of three months or less when purchased to be cash equivalents. Cash and cash equivalents include money market funds and U.S. Treasury securities with original maturities of three months or less when purchased. Interest income from cash and cash equivalents is recorded in interest income in the consolidated statements of operations. The carrying values of the money market funds and U.S. Treasury securities were $253.5 million and $231.8 million as of December 31, 2019 and 2018 , respectively, which approximate their fair values due to their short-term nature and are categorized as Level I within the fair value hierarchy. Substantially all of the Company’s cash on deposit is in interest bearing accounts with major financial institutions and exceed insured limits. Restricted Cash Restricted cash includes cash held in reserve accounts used to make required payments in respect of the 2039 Senior Secured Guaranteed Notes. Restricted cash also includes cash deposited at a bank, which is pledged as collateral in connection with leased premises.
U.S. Treasury securities, at fair value	U.S. Treasury securities, at fair value U.S. Treasury securities, at fair value includes U.S. Treasury bills with original maturities greater than three months when purchased. These securities are recorded at fair value. Interest income on such securities is separately presented from the overall change in fair value and is recognized in interest income in the consolidated statements of operations. Any remaining change in fair value of such securities, that is not recognized as interest income, is recognized in net gains (losses) from investment activities in the consolidated statements of operations.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Apollo has elected the fair value option for the Company’s investment in Athene Holding, the assets and liabilities of certain of its consolidated VIEs (including CLOs), the Company’s U.S. Treasury securities with original maturities greater than three months when purchased, and certain of the Company’s other investments. Such election is irrevocable and is applied to financial instruments on an individual basis at initial recognition. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. Except for the Company’s debt obligations, financial instruments are generally recorded at fair value or at amounts whose carrying values approximate fair value. The actual realized gains or losses will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may ultimately differ significantly from the assumptions on which the valuations were based. Fair Value Hierarchy U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I - Quoted prices are available in active markets for identical financial instruments as of the reporting date. The types of financial instruments included in Level I include listed equities and debt. The Company does not adjust the quoted price for these financial instruments, even in situations where the Company holds a large position and the sale of such position would likely deviate from the quoted price. Level II - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Financial instruments that are generally included in this category include corporate bonds and loans, less liquid and restricted equity securities and certain over-the-counter derivatives where the fair value is based on observable inputs. These financial instruments exhibit higher levels of liquid market observability as compared to Level III financial instruments. Level III - Pricing inputs are unobservable for the financial instrument and includes situations where there is little observable market activity for the financial instrument. The inputs into the determination of fair value may require significant management judgment or estimation. Financial instruments that are included in this category generally include general and limited partner interests in corporate private equity and real assets funds, opportunistic credit funds, distressed debt and non-investment grade residual interests in securitizations and CDOs and CLOs where the fair value is based on observable inputs as well as unobservable inputs. When a security is valued based on broker quotes, the Company subjects those quotes to various criteria in making the determination as to whether a particular financial instrument would qualify for classification as Level II or Level III. These criteria include, but are not limited to, the number and quality of the broker quotes, the standard deviations of the observed broker quotes, and the percentage deviation from independent pricing services. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, a financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument when the fair value is based on unobservable inputs.
Equity Method Investments	Equity Method Investments For investments in entities over which the Company exercises significant influence but which do not meet the requirements for consolidation and for which the Company has not elected the fair value option, the Company uses the equity method of accounting, whereby the Company records its share of the underlying income or loss of such entities. The Company’s share of the underlying net income or loss of such entities is recorded in principal investment income in the consolidated statements of operations. The carrying amounts of equity method investments are recorded in investments in the consolidated statements of financial condition. As the underlying entities that the Company manages and invests in are, for U.S. GAAP purposes, primarily investment companies which reflect their investments at estimated fair value, the carrying value of the Company’s equity method investments in such entities approximates fair value.
Financial Instruments held by Consolidated VIEs	Financial Instruments held by Consolidated VIEs The Company measures both the financial assets and financial liabilities of the consolidated CLOs in its consolidated financial statements using the fair value of the financial assets of the consolidated CLOs, which are more observable than the fair value of the financial liabilities of the consolidated CLOs. As a result, the financial assets of the consolidated CLOs are measured at fair value and the financial liabilities are measured in consolidation as: (i) the sum of the fair value of the financial assets and the carrying value of any non-financial assets that are incidental to the operations of the CLOs less (ii) the sum of the fair value of any beneficial interests retained by the Company (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services. The resulting amount is allocated to the individual financial liabilities (other than the beneficial interest retained by the Company) using a reasonable and consistent methodology. Under the measurement alternative, net income attributable to Apollo Global Management, Inc. reflects the Company’s own economic interests in the consolidated CLOs including (i) changes in the fair value of the beneficial interests retained by the Company and (ii) beneficial interests that represent compensation for collateral management services. The consolidated VIEs hold investments that could be traded over-the-counter. Investments in securities that are traded on a securities exchange or comparable over-the-counter quotation systems are valued based on the last reported sale price at that date. If no sales of such investments are reported on such date, and in the case of over-the-counter securities or other investments for which the last sale date is not available, valuations are based on independent market quotations obtained from market participants, recognized pricing services or other sources deemed relevant, and the prices are based on the average of the “bid” and “ask” prices, or at ascertainable prices at the close of business on such day. Market quotations are generally based on valuation pricing models or market transactions of similar securities adjusted for security-specific factors such as relative capital structure priority and interest and yield risks, among other factors. When market quotations are not available, a model based approach is used to determine fair value.
Leases	Leases The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in lease assets and lease liabilities in the consolidated statements of financial condition. The Company does not have any finance leases. On January 1, 2019, the Company adopted new lease guidance issued by the FASB to increase transparency and comparability among organizations by requiring the recognition of right-of-use lease assets and lease liabilities on the statements of financial condition. The most significant among the changes in the standard is the recognition of right-of-use lease assets and lease liabilities by lessees for those leases classified as operating leases. Under the standard, disclosures are required to meet the objectives of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. Lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease assets and lease liabilities are recognized at the date of commencement of the lease (the “commencement date”) based on the present value of lease payments over the lease term. As the rate implicit in most of the Company’s leases are not readily determinable, the Company uses its derived incremental borrowing rate based on information available at commencement date in determining the present value of lease payments. The determination of an appropriate incremental borrowing rate requires judgment. The Company determined its incremental borrowing rate based on consideration of market conditions, the Company’s overall creditworthiness, and recent debt and preferred equity issuances. The Company adjusts its rate accordingly based on the term of the leases. Certain lease agreements contain lease escalation or lease incentive provisions based on the terms of the arrangement with the landlord. Lease escalations and lease incentives, if any, are recognized on a straight-line basis over the lease term. The Company’s lease agreements may also include options to extend or terminate the lease. Options to extend would not be included in the lease term until it is reasonably certain that the Company will exercise that option. Lease expense is recognized on a straight-line basis over the lease term and is recorded within general, administrative and other in the consolidated statements of operations. The Company has lease agreements with non-lease components (e.g. estimated operating expenses associate with the lease), which are accounted for separately. The Company adopted the standard under the simplified transition method. The simplified transition method allows companies to forgo the comparative reporting requirements initially required under the modified retrospective transition approach and apply the new guidance prospectively. The Company also elected to use the practical expedients available under the standard whereby the Company would not need to reassess whether an arrangement is or contains a lease, lease classification, and the accounting for initial direct costs. The adoption of the standard had an impact on the Company’s consolidated statements of financial condition but did not have an impact on the Company’s consolidated statements of operations, consolidated statements of cash flows or beginning accumulated deficit. Refer to the consolidated statements of financial condition and note 9 for further information on the impact of the adoption of the standard on the Company’s consolidated financial statements.
Due from/to Related Parties	Due from/to Related Parties Due from/to related parties includes Apollo’s existing partners, employees, certain former employees, portfolio companies of the funds and nonconsolidated credit, private equity and real assets funds. See note 15 for further disclosure of transactions with related parties.
Other Assets	Other Assets Other assets primarily includes fixed assets, net, deferred equity-based compensation, prepaid expenses and intangible assets. During 2019, the presentation of intangible assets, net was combined with other assets on the consolidated statements of financial condition and the prior period was recast to conform to the current presentation. Finite-lived intangible assets such as contractual rights to earn future management fees and incentive fees acquired in business combinations are amortized over their estimated useful lives, which are periodically re-evaluated for impairment or when circumstances indicate an impairment may have occurred. Apollo amortizes its identifiable finite-lived intangible assets using a method of amortization reflecting the pattern in which the economic benefits of the finite-lived intangible assets are consumed or otherwise used up. If that pattern cannot be reliably determined, Apollo uses the straight-line method of amortization. Fixed assets consist primarily of leasehold improvements, furniture, fixtures, equipment, and computer hardware and are recorded at cost, net of accumulated depreciation and amortization. Depreciation and amortization is calculated using the straight-line method over the assets’ estimated useful lives and in the case of leasehold improvements the lesser of the useful life or the term of the lease. Expenditures for repairs and maintenance are charged to expense when incurred. The Company evaluates long-lived assets for impairment periodically and whenever events or changes in circumstances indicate the carrying amounts of the assets may be impaired.
Business Combinations	Business Combinations The Company accounts for business combinations using the acquisition method of accounting, under which the purchase price of the acquisition is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. Contingent consideration obligations that are elements of the consideration transferred are recognized as of the acquisition date as part of the fair value transferred in exchange for the acquired business. Acquisition-related costs incurred in connection with a business combination are expensed as incurred.
Goodwill	Goodwill Goodwill represents the excess of cost over the fair value of identifiable net assets of an acquired business. Goodwill and other indefinite lived intangible assets are tested annually for impairment or more frequently if circumstances indicate impairment may have occurred. The Company performed its annual goodwill impairment test as of October 1, 2019 and 2018 and did not identify any impairment.
Deferred Revenue and Revenues	Revenues The Company’s revenues are reported in four separate categories that include (i) management fees; (ii) advisory and transaction fees, net; (iii) investment income, which is comprised of performance allocations and principal investment income; and (iv) incentive fees. On January 1, 2018, the Company adopted new revenue guidance issued by the Financial Accounting Standards Board (“FASB”) for recognizing revenue from contracts with customers. The new revenue guidance requires that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services (i.e., the transaction price). When determining the transaction price under the new revenue guidance, an entity may recognize variable consideration only to the extent that it is probable to not be significantly reversed. The new revenue guidance also requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The Company has concluded that its management fees, advisory and transaction fees, and incentive fees are within the scope of the new revenue guidance. For incentive fees, the new revenue guidance delays the timing of certain revenues compared to the prior accounting treatment. These amounts were previously recognized in carried interest income in the consolidated statements of operations and are now recognized within a separate line, incentive fees. Effective January 1, 2018, the Company implemented a change in accounting principle for performance allocations to be accounted for under guidance applicable to equity method investments, and therefore not within the scope of the new revenue guidance. The accounting change does not change the timing or amount of revenue recognized related to performance allocation arrangements. These amounts were previously recognized within carried interest income in the consolidated statements of operations and carried interest receivable within the consolidated statements of financial condition. As a result of the change in accounting principle, the Company recognizes performance allocations within investment income along with the related principal investment income (as further described below) in the consolidated statements of operations and within the investments line in the consolidated statements of financial condition. The Company applied this change in accounting principle on a full retrospective basis. The new revenue guidance was adopted on a modified retrospective basis. The adoption of the new revenue guidance did not have a material impact on the Company. In connection with the adoption of the new revenue guidance, the Company recorded a cumulative effect adjustment to total shareholders’ equity as of January 1, 2018 in the amount of $19.4 million net of taxes. Prior periods have not been recast to reflect the new revenue guidance. Accordingly, prior periods reflect recognition under the previous guidance whereby incentive fees were recorded on an assumed liquidation basis at each reporting date. Refer to disclosures below for additional information on each of the Company’s revenue streams. Deferred Revenue Apollo records deferred revenue, which is a type of contract liability, when consideration is received in advance of management services provided. Apollo also earns management fees subject to the Management Fee Offset (described below). When advisory and transaction fees are earned by the management company, the Management Fee Offset reduces the management fee obligation of the fund. When the Company receives cash for advisory and transaction fees, a certain percentage of such advisory and/or transaction fees, as applicable, is allocated as a credit to reduce future management fees, otherwise payable by such fund. Such credit is recorded as deferred revenue in the consolidated statements of financial condition. A portion of any excess advisory and transaction fees may be required to be returned to the limited partners of certain funds upon such fund’s liquidation. As the management fees earned by the Company are presented on a gross basis, any Management Fee Offsets calculated are presented as a reduction to advisory and transaction fees in the consolidated statements of operations. Additionally, Apollo earns advisory fees pursuant to the terms of the advisory agreements with certain of the portfolio companies that are owned by the funds Apollo manages. When Apollo receives a payment from a portfolio company that exceeds the advisory fees earned at that point in time, the excess payment is recorded as deferred revenue in the consolidated statements of financial condition. The advisory agreements with the portfolio companies vary in duration and the associated fees are received monthly, quarterly or annually. Deferred revenue is reversed and recognized as revenue over the period that the agreed upon services are performed. There was $96.6 million of revenue recognized during the year ended December 31, 2019 that was previously deferred as of January 1, 2019. Under the terms of the funds’ partnership agreements, Apollo is normally required to bear organizational expenses over a set dollar amount and placement fees or costs in connection with the offering and sale of interests in the funds it manages to investors. The placement fees are payable to placement agents, who are independent third parties that assist in identifying potential investors, securing commitments to invest from such potential investors, preparing or revising offering and marketing materials, developing strategies for attempting to secure investments by potential investors and/or providing feedback and insight regarding issues and concerns of potential investors, when a limited partner either commits or funds a commitment to a fund. In certain instances the placement fees are paid over a period of time. Based on the management agreements with the funds, Apollo considers placement fees and organizational costs paid in determining if cash has been received in excess of the management fees earned. Placement fees and organizational costs are normally the obligation of Apollo but can be paid for by the funds. When these costs are paid by the fund, the resulting obligations are included within deferred revenue. The deferred revenue balance will also be reduced during future periods when management fees are earned but not paid.
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs consist of costs incurred in obtaining financing and are amortized over the term of the financing using the effective interest method. These costs are generally recorded as a direct deduction from the carrying amount of the related debt liability on the consolidated statements of financial condition.
Foreign Currency	Foreign Currency The Company may, from time to time, hold foreign currency denominated assets and liabilities. The functional currency of the Company’s international subsidiaries is generally the U.S. Dollar, as their operations are considered an extension of U.S. parent operations. Nonmonetary assets and liabilities of the Company’s international subsidiaries are remeasured into the functional currency using historical exchange rates specific to each asset and liability, the exchange rates prevailing at the end of each reporting period is used for all others. The results of the Company’s foreign operations are normally remeasured using an average exchange rate for the respective reporting period. Currency remeasurement adjustments are included within other income, net in the consolidated statements of operations. Gains and losses on the settlement of foreign currency transactions are also included within other income, net in the consolidated statements of operations. Foreign currency denominated assets and liabilities are translated into the reporting currency using the exchange rates prevailing at the end of each reporting period. The results of the Company’s foreign operations are normally translated using an average exchange rate for the respective reporting period. Currency translation adjustments are included within other comprehensive income (loss), net of tax within the consolidated statements of comprehensive income.
Management Fees	Management Fees Management fees are recognized over time during the periods in which the related services are performed in accordance with the contractual terms of the related agreement. Management fees are generally based on (1) a percentage of the capital committed during the commitment period, and thereafter based on the remaining invested capital of unrealized investments, or (2) net asset value, gross assets or as otherwise defined in the respective agreements. Included in management fees are certain expense reimbursements where the Company is considered the principal under the agreements and is required to record the expense and related reimbursement revenue on a gross basis.
Advisory and Transaction Fees, Net	Advisory and Transaction Fees, Net Advisory fees, including management consulting fees and directors’ fees, are generally recognized over time as the underlying services are provided in accordance with the contractual terms of the related agreement. The Company receives such fees in exchange for ongoing management consulting services provided to portfolio companies of funds it manages. Transaction fees, including structuring fees and arranging fees are generally recognized at a point in time when the underlying services rendered are complete. The amounts due from fund portfolio companies are recorded in due from related parties, which is discussed further in note 15 . Under the terms of the limited partnership agreements for certain funds, the management fee payable by the funds may be subject to a reduction based on a certain percentage of such advisory and transaction fees, net of applicable broken deal costs (“Management Fee Offset”). Advisory and transaction fees are presented net of the Management Fee Offset in the consolidated statements of operations. Underwriting fees, which are also included within advisory and transaction fees, net, include gains, losses and fees, arising from securities offerings in which one of the Company’s subsidiaries participates in the underwriter syndicate. Underwriting fees are recognized at a point in time when the underwriting is completed. Underwriting fees recognized but not received are recorded in other assets on the consolidated statements of financial condition. During the normal course of business, the Company incurs certain costs related to certain transactions that are not consummated (“broken deal costs”). These costs (e.g., research costs, due diligence costs, professional fees, legal fees and other related items) are determined to be broken deal costs upon management’s decision to no longer pursue the transaction. In accordance with the related fund agreement, in the event the deal is deemed broken, all of the costs are reimbursed by the funds and then included as a component of the calculation of the Management Fee Offset. If a deal is successfully completed, Apollo is reimbursed by the fund or fund’s portfolio company for all costs incurred and no offset is generated. As the Company acts as an agent for the funds it manages, any transaction costs incurred and paid by the Company on behalf of the respective funds relating to successful or broken deals are recorded net on the Company’s consolidated statements of operations, and any receivable from the respective funds is recorded in due from related parties on the consolidated statements of financial condition.
Investment Income	Investment Income Investment income is comprised of performance allocations and principal investment income. Performance Allocations Performance allocations are a type of performance revenue (i.e., income earned based on the extent to which an entity’s performance exceeds predetermined thresholds). Performance allocations are generally structured from a legal standpoint as an allocation of capital in which the Company’s capital account receives allocations of the returns of an entity when those returns exceed predetermined thresholds. The determination of which performance revenues are considered performance allocations is primarily based on the terms of an agreement with the entity. As noted above, as a result of a change in accounting principle, the Company recognizes performance allocations within investment income along with the related principal investment income (as described further below) in the consolidated statements of operations and within the investments line in the consolidated statements of financial condition. Principal Investment Income Principal investment income includes the Company’s income or loss from equity method investments and certain other investments in entities in which the Company is generally eligible to receive performance allocations. Income from equity method investments includes the Company’s share of net income or loss generated from its investments, which are not consolidated, but in which the Company exerts significant influence. Prior to the change in accounting principle noted above, income from equity method investments was included within other income (loss) in the consolidated
Incentive Fees	Incentive Fees Incentive fees are a type of performance revenue. Incentive fees differ from performance allocations in that incentive fees do not represent an allocation of capital but rather a contractual fee arrangement with the entity. Incentive fees are considered a form of variable consideration under the new revenue recognition guidance as they are subject to clawback or reversal and therefore must be deferred until the fees are probable to not be significantly reversed. Accrued but unpaid incentive fees are reported within incentive fees receivable in the Company’s consolidated statements of financial condition. As noted earlier, prior to the adoption of the new revenue recognition guidance, incentive fees were recognized on an assumed liquidation basis. The Company’s incentive fees primarily relate to the credit segment and are generally received from CLOs, managed accounts and AINV.
Salaries, Bonus and Benefits and Equity-Based Compensation	Salaries, Bonus and Benefits Salaries, bonus and benefits include base salaries, discretionary and non-discretionary bonuses, severance and employee benefits. Bonuses are generally accrued over the related service period. Equity-Based Compensation Equity-based awards granted to employees and non-employees as compensation are measured based on the grant date fair value of the award. Equity-based awards that do not require future service (i.e., vested awards) are expensed immediately. Equity-based employee awards that require future service are expensed over the relevant service period. In addition, certain restricted share units (“RSUs”) granted by the Company vest based on both continued service and the Company’s receipt of performance revenues, within prescribed periods, sufficient to cover the associated equity-based compensation expense. In accordance with U.S. GAAP, equity-based compensation expense for such awards, if and when granted, will be recognized on an accelerated recognition method over the requisite service period to the extent the performance revenue metrics are met or deemed probable. The Company accounts for forfeitures of equity-based awards when they occur.
Profit Sharing	Profit Sharing Profit sharing expense and profit sharing payable primarily consist of a portion of performance revenues earned from certain funds that are allocated to employees and former employees. Profit sharing amounts are recognized as the related performance revenues are earned. Accordingly, profit sharing amounts can be reversed during periods when there is a decline in performance revenues that were previously recognized. Profit sharing amounts are generally not paid until the related performance revenue is distributed to the general partner upon realization of the fund’s investments. Under certain profit sharing arrangements, the Company requires that a portion of certain of the performance revenues distributed to its employees be used to purchase restricted Class A Common Stock issued under the Company’s 2007 Omnibus Equity Incentive Plan, which, effective as of July 22, 2019, was amended, restated and renamed the 2019 Omnibus Equity Incentive Plan (the “Equity Plan”). Prior to distribution of the performance revenue, the Company records the value of the equity-based awards expected to be granted in other assets and other liabilities within the consolidated statements of financial condition. Such equity-based awards are recorded as equity-based compensation expense over the relevant service period once granted. Additionally, profit sharing amounts previously distributed may be subject to clawback from employees and former employees. When applicable, the accrual for potential clawback of previously distributed profit sharing amounts, which is a component of due from related parties on the consolidated statements of financial condition, represents all amounts previously distributed to employees and former employees that would need to be returned to the general partner if the Apollo funds were to be liquidated based on the fair value of the underlying funds’ investments as of the reporting date. The actual general partner receivable, however, would not become realized until the end of a fund’s life. Profit sharing payable also includes contingent consideration obligations that were recognized in connection with certain Apollo acquisitions. Changes in the fair value of the contingent consideration obligations are reflected in the Company’s consolidated statements of operations as profit sharing expense. The Company has a performance-based incentive arrangement for certain Apollo partners and employees designed to more closely align compensation on an annual basis with the overall realized performance of the Company. This arrangement enables certain partners and employees to earn discretionary compensation based on performance revenue earned by the Company in a given year, which amounts are reflected in profit sharing expense in the accompanying consolidated financial statements. The Company also used $16.0 million of the dividends it receives from investments in MidCap, ARI and AINV to compensate employees. These amounts are reflected in profit sharing expense in the Company’s consolidated
401(k) Savings Plan	401(k) Savings Plan The Company sponsors a 401(k) savings plan (the “401(k) Plan”) whereby U.S.-based employees are entitled to participate in the 401(k) Plan based upon satisfying certain eligibility requirements. The Company matches 50% of eligible annual employee contributions up to 3% of the eligible employees’ annual compensation. Matching contributions vest after three years of service.
General, Administrative and Other	General, Administrative and Other General, administrative and other primarily includes professional fees, occupancy, depreciation and amortization, travel, information technology and administration expenses.
Other Income	Other Income Net Gains from Investment Activities Net gains from investment activities include both realized gains and losses and the change in unrealized gains and losses in the Company’s investments, at fair value between the opening reporting date and the closing reporting date. Net Gains from Investment Activities of Consolidated Variable Interest Entities Changes in the fair value of the consolidated VIEs’ assets and liabilities and related interest, dividend and other income and expenses are presented within net gains from investment activities of consolidated variable interest entities and are attributable to Non-Controlling Interests in the consolidated statements of operations. Other Income, Net Other income, net includes the recognition of gains (losses) arising from the remeasurement of foreign currency denominated assets and liabilities, gains arising from the remeasurement of the tax receivable agreement liability (see note 15 ), and other miscellaneous non-operating income and expenses.
Income Taxes	Income Taxes Prior to the Conversion, certain entities in the Apollo Operating Group operated as partnerships for U.S. federal income tax purposes. As a result, these entities were not subject to U.S. federal income taxes. However, certain of these entities were subject to New York City unincorporated business taxes (“NYC UBT”) and certain non-U.S. entities were subject to non-U.S. corporate income taxes. Effective September 5, 2019, Apollo Global Management, LLC converted from a Delaware limited liability company to a Delaware corporation named Apollo Global Management, Inc. Subsequent to the Conversion, generally all of the income is subject to U.S. corporate income taxes, which could result in an overall higher income tax expense (or benefit) in periods subsequent to the Conversion. Significant judgment is required in determining tax expense and in evaluating tax positions, including evaluating uncertainties. The Company recognizes the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits of the position. The tax benefit is measured as the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. If a tax position is not considered more likely than not to be sustained, then no benefits of the position are recognized. The Company’s tax positions are reviewed and evaluated quarterly to determine whether or not the Company has uncertain tax positions that require financial statement recognition. Deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amount of assets and liabilities and their respective tax basis using currently enacted tax rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period during which the change is enacted. Deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Non-Controlling Interests	Non-Controlling Interests For entities that are consolidated, but not 100% owned, a portion of the income or loss and corresponding equity is allocated to owners other than Apollo. The aggregate of the income or loss and corresponding equity that is not owned by the Company is included in Non-Controlling Interests in the consolidated financial statements. The Non-Controlling Interests relating to Apollo Global Management, Inc. primarily include the ownership interest in the Apollo Operating Group held by the Managing Partners and Contributing Partners through their limited partner interests in Holdings and other ownership interests in consolidated entities. Non-Controlling Interests also include limited partner interests of Apollo managed funds in certain consolidated VIEs. Non-Controlling Interests are presented as a separate component of stockholders’ equity on the Company’s consolidated statements of financial condition. The primary components of Non-Controlling Interests are separately presented in the Company’s consolidated statements of changes in stockholders’ equity to clearly distinguish the interest in the Apollo Operating Group and other ownership interests in the consolidated entities. Net income includes the net income attributable to the holders of Non-Controlling Interests on the Company’s consolidated statements of operations. Profits and losses are allocated to Non-Controlling Interests in proportion to their relative ownership interests regardless of their basis.
Net Income Per Share of Class A Common Stock	Net Income Per Share of Class A Common Stock As Apollo has issued participating securities, U.S. GAAP requires use of the two-class method of computing earnings per share for all periods presented for each class of common stock and participating security as if all earnings for the period had been distributed. Under the two-class method, during periods of net income, the net income is first reduced for distributions declared on all classes of securities to arrive at undistributed earnings. During periods of net losses, the net loss is reduced for distributions declared on participating securities only if the security has the right to participate in the earnings of the entity and an objectively determinable contractual obligation to share in net losses of the entity. Participating securities include vested and unvested RSUs that participate in distributions, as well as unvested restricted shares. Whether during a period of net income or net loss, under the two-class method the remaining earnings are allocated to Class A Common Stock and participating securities to the extent that each security shares in earnings as if all of the earnings for the period had been distributed. Earnings or losses allocated to each class of security are then divided by the applicable weighted average outstanding shares to arrive at basic earnings per share. For the diluted earnings, the denominator includes all outstanding Class A Common Stock and includes the number of additional Class A Common Stock that would have been outstanding if the dilutive potential Class A Common Stock had been issued. The numerator is adjusted for any changes in income or loss that would result from the issuance of these potential shares of Class A Common Stock.
Comprehensive Income (Loss)	Comprehensive Income (Loss) U.S. GAAP guidance establishes standards for reporting comprehensive income and its components in a financial statement that is displayed with the same prominence as other financial statements. U.S. GAAP requires that the Company classify items of other comprehensive income (loss) (“OCI”) by their nature in the financial statements and display the accumulated balance of OCI separately in the stockholders’ equity section of the Company’s consolidated statements of financial condition. Comprehensive income consists of net income and OCI. Apollo’s OCI is primarily comprised of foreign currency translation adjustments associated with the Company's non-U.S. dollar denominated subsidiaries.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Apollo’s most significant estimates include goodwill, intangible assets, income taxes, performance allocations, incentive fees, contingent consideration obligation related to an acquisition, non-cash compensation, and fair value of investments and debt. Actual results could differ materially from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the FASB issued guidance intended to provide financial statement users with more useful information about the expected credit losses on financial instruments held by a reporting entity at each reporting date. To achieve this objective, the new guidance replaces the incurred loss methodology in current U.S. GAAP with a methodology that reflects expected credit losses. The new guidance will affect entities to varying degrees depending on the credit quality of the assets held by the entity, their duration, and how the entity applies current U.S. GAAP. The new guidance is effective for the Company on January 1, 2020. The new guidance will not have a material impact on the consolidated financial statements of the Company. In January 2017, the FASB issued guidance intended to simplify the test for goodwill impairment. The new guidance removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment (Step 2). Under the new guidance, a goodwill impairment is calculated as the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill in the reporting unit. The guidance is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be performed prospectively. The guidance is not expected to have a material impact on the consolidated financial statements of the Company.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Summary of Investments	The following table presents Apollo’s investments: As of As of Investments, at fair value $ 1,053,556 $ 900,959 Equity method investments 1,048,732 909,471 Performance allocations 1,507,571 912,182 Total Investments $ 3,609,859 $ 2,722,612
Summary of Equity Method Investments	The Company’s equity investment in Athene Holding, for which the fair value option was elected, met the significance criteria as defined by the Securities and Exchange Commission (“SEC”) as of December 31, 2019 and 2018 . As such, the following tables present summarized financial information of Athene Holding: As of December 31, 2019 2018 (in millions) Statements of Financial Condition Investments $ 107,952 $ 89,340 Assets 146,875 125,505 Liabilities 132,734 117,229 Equity 14,141 8,276 For the Years Ended December 31, 2019 2018 2017 (in millions) Statements of Operations Revenues $ 16,258 $ 6,637 $ 8,788 Expenses 13,956 5,462 7,324 Income before income tax provision (benefit) 2,302 1,175 1,464 Income tax provision (benefit) 117 122 106 Net income $ 2,185 $ 1,053 $ 1,358 Net income attributable to non-controlling interests (13 ) — — Net income available to Athene shareholders 2,172 1,053 1,358 Preferred stock dividends (36 ) — — Net income available to Athene common shareholders $ 2,136 $ 1,053 $ 1,358 Equity method investments consisted of the following: Equity Held as of December 31, 2019 (4) December 31, 2018 (4) Credit (1) $ 318,054 $ 279,888 Private Equity (2) 632,540 534,818 Real Assets 98,138 94,765 Total equity method investments (3) $ 1,048,732 $ 909,471 (1) The equity method investment in AINV was $51.0 million and $53.9 million as of December 31, 2019 and 2018 , respectively. The value of the Company’s investment in AINV was $51.3 million and $36.7 million based on the quoted market price of AINV as of December 31, 2019 and 2018 , respectively. (2) The equity method investment in Fund VIII was $370.7 million and $356.6 million as of December 31, 2019 and 2018 , respectively, representing an ownership percentage of 2.2% and 2.2% as of December 31, 2019 and 2018 , respectively. (3) Certain funds invest across multiple segments. The presentation in the table above is based on the classification of the majority of such funds’ investments. (4) Some amounts included are a quarter in arrears. The tables below present summarized financial information of the Company’s equity method investments in aggregate: Credit Private Equity Real Assets Aggregate Totals As of As of As of As of Statement of Financial Condition 2019 (1) 2018 (1) 2019 (1) 2018 (1) 2019 (1) 2018 (1) 2019 (1) 2018 (1) Investments $ 34,361,782 $ 26,461,258 $ 32,517,599 $ 28,668,459 $ 12,248,343 $ 9,712,205 $ 79,127,724 $ 64,841,922 Assets 39,128,474 29,400,363 33,259,492 30,058,053 13,039,865 10,251,322 85,427,831 69,709,738 Liabilities 22,069,959 17,834,650 427,076 545,729 5,281,751 3,451,002 27,778,786 21,831,381 Equity 17,058,515 11,565,713 32,832,416 29,512,324 7,758,114 6,800,320 57,649,045 47,878,357 Credit Private Equity Real Assets Aggregate Totals For the Years Ended For the Years Ended For the Years Ended For the Years Ended Statement of Operations 2019 (1) 2018 (1) 2017 (1) 2019 (1) 2018 (1) 2017 (1) 2019 (1) 2018 (1) 2017 (1) 2019 (1) 2018 (1) 2017 (1) Revenues/Investment Income $ 1,974,306 $ 1,058,776 $ 833,059 $ 675,305 $ 738,738 $ 1,045,157 $ 509,963 $ 608,928 $ 903,675 $ 3,159,574 $ 2,406,442 $ 2,781,891 Expenses 1,969,329 1,184,462 484,593 680,331 640,504 401,596 362,454 320,187 190,783 3,012,114 2,145,153 1,076,972 Net Investment Income (Loss) 4,977 (125,686 ) 348,466 (5,026 ) 98,234 643,561 147,509 288,741 712,892 147,460 261,289 1,704,919 Net Realized and Unrealized Gain (Loss) 1,843,877 221,321 1,045,057 3,672,268 (3,303,225 ) 5,831,659 856,380 (48,559 ) (102,240 ) 6,372,525 (3,130,463 ) 6,774,476 Net Income (Loss) $ 1,848,854 $ 95,635 $ 1,393,523 $ 3,667,242 $ (3,204,991 ) $ 6,475,220 $ 1,003,889 $ 240,182 $ 610,652 $ 6,519,985 $ (2,869,174 ) $ 8,479,395 (1) Certain credit, private equity and real assets fund amounts are as of and for the twelve months ended September 30, 2019 , 2018 and 2017 and exclude amounts related to Athene Holding.
Summary of Realized and Net Change in Unrealized Gains on Investments, at Fair Value	The following table presents the realized and net change in unrealized gains (losses) reported in net gains (losses) from investment activities: For the Years Ended December 31, 2019 2018 2017 Realized gains on sales of investments, net $ 45 $ 67 $ 103 Net change in unrealized gains (losses) due to changes in fair value 138,109 (186,516 ) 95,001 Net gains (losses) from investment activities $ 138,154 $ (186,449 ) $ 95,104
Summary of Performance Allocation	Performance allocations receivable recorded within investments in the consolidated statements of financial condition from credit, private equity and real assets funds consisted of the following: As of December 31, 2019 As of December 31, 2018 Credit $ 418,517 $ 241,896 Private Equity 822,531 520,892 Real Assets 266,523 149,394 Total performance allocations $ 1,507,571 $ 912,182 The table below provides a roll forward of the performance allocations balance: Credit Private Equity Real Assets Total Performance allocations, January 1, 2018 $ 193,294 $ 1,425,947 $ 209,689 $ 1,828,930 Change in fair value of funds 104,706 (448,932 ) (5,208 ) (349,434 ) Fund distributions to the Company (56,104 ) (456,123 ) (1) (55,087 ) (567,314 ) Performance allocations, December 31, 2018 $ 241,896 $ 520,892 $ 149,394 $ 912,182 Change in fair value of funds 265,402 726,700 120,303 1,112,405 Fund distributions to the Company (88,781 ) (425,061 ) (3,174 ) (517,016 ) Performance allocations, December 31, 2019 $ 418,517 $ 822,531 $ 266,523 $ 1,507,571 (1) Includes realized performance allocations of $169.9 million from AP Alternative Assets, L.P. (“AAA”), settled in the form of shares of Athene Holding.

PROFIT SHARING PAYABLE (Tables)

PROFIT SHARING PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2019
Profit Sharing Payable [Abstract]
Summary of Profit Sharing From Private Equity, Credit, and Real Estate Funds	Profit sharing payable consisted of the following: As of December 31, 2019 As of December 31, 2018 Credit $ 314,125 $ 178,093 Private Equity 329,817 205,617 Real Assets 114,727 68,431 Total profit sharing payable $ 758,669 $ 452,141
Rollforward Summary of Profit Sharing From Private Equity, Credit, and Real Estate Funds	The table below provides a roll forward of the profit sharing payable balance: Credit Private Equity Real Assets Total Profit sharing payable, January 1, 2018 $ 183,109 $ 485,242 $ 83,925 $ 752,276 Profit sharing expense 60,009 (94,390 ) 6,357 (28,024 ) Payments/other (1) (65,025 ) (185,235 ) (2) (21,851 ) (272,111 ) Profit sharing payable, December 31, 2018 $ 178,093 $ 205,617 $ 68,431 $ 452,141 Profit sharing expense 210,188 316,534 51,920 578,642 Payments/other (74,156 ) (192,334 ) (5,624 ) (272,114 ) Profit sharing payable, December 31, 2019 $ 314,125 $ 329,817 $ 114,727 $ 758,669

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Gain (Loss) on Investments of Variable Interest Entities	The following table presents net gains from investment activities of the consolidated VIEs: For the Years Ended December 31, 2019 (1) 2018 (1) 2017 (1) Net gains from investment activities $ 51,039 $ 23,922 $ 7,960 Net gains (losses) from debt (11,941 ) 16,875 6,416 Interest and other income 29,224 35,612 35,154 Interest and other expenses (28,411 ) (31,297 ) (38,865 ) Net gains from investment activities of consolidated variable interest entities $ 39,911 $ 45,112 $ 10,665 (1) Amounts reflect consolidation eliminations.
Principal Provisions of Debt	The following table summarizes the principal provisions of the debt of the consolidated VIEs: As of December 31, 2019 As of December 31, 2018 Principal Outstanding Weighted Average Interest Rate Weighted Average Remaining Maturity in Years Principal Outstanding Weighted Average Interest Rate Weighted Average Remaining Maturity in Years Senior Secured Notes (2) $ 757,628 1.56 % 10.2 $ 768,860 1.67 % 11.2 Subordinated Notes (2) 93,572 N/A (1) 20.4 95,686 N/A (1) 21.4 Secured Borrowings (2)(3) 18,976 3.69 % 7.8 18,976 3.42 % 8.8 Total $ 870,176 $ 883,522 (1) The subordinated notes do not have contractual interest rates but instead receive distributions from the excess cash flows of the VIEs. (2) The debt of the consolidated VIEs is collateralized by assets of the consolidated VIEs and assets of one vehicle may not be used to satisfy the liabilities of another vehicle. The fair value of the debt and collateralized assets of the Senior Secured Notes, Subordinated Notes and Secured Borrowings are presented below: As of December 31, 2019 As of December 31, 2018 Debt, at fair value $ 850,147 $ 855,461 Collateralized assets $ 1,300,186 $ 1,290,891 (3) Secured borrowings consist of a consolidated VIE’s obligation through a repurchase agreement redeemable at maturity with a third party lender. The fair value of the secured borrowings as of December 31, 2019 and December 31, 2018 was $19.0 million and $19.0 million , respectively.
Carrying Amounts of Assets and Liabilities	The following table presents the carrying amounts of the assets and liabilities of the VIEs for which Apollo has concluded that it holds a significant variable interest, but that it is not the primary beneficiary. In addition, the table presents the maximum exposure to losses relating to these VIEs. As of As of Assets: Cash $ 222,481 $ 404,660 Investments 5,418,295 4,919,118 Receivables 137,165 126,873 Total Assets $ 5,777,941 $ 5,450,651 Liabilities: Debt and other payables $ 3,449,227 $ 3,673,219 Total Liabilities $ 3,449,227 $ 3,673,219 Apollo Exposure (1) $ 250,521 $ 244,894 (1) Represents Apollo’s direct investment in those entities in which Apollo holds a significant variable interest and certain other investments. Additionally, cumulative performance allocations are subject to reversal in the event of future losses, as discussed in note 16 .

FAIR VALUE MEASUREMENTS OF FI_2

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Valuation of the Financial Assets and Liabilities by the Fair Value Hierarchy	The following tables summarize the Company’s financial assets and financial liabilities recorded at fair value by fair value hierarchy level: As of December 31, 2019 Level I Level II Level III Total Cost Assets U.S. Treasury securities, at fair value $ 664,249 $ — $ — $ 664,249 $ 642,176 Investments, at fair value: Investment in Athene Holding 897,052 — — 897,052 590,110 Other investments — 43,094 113,410 (1) 156,504 135,686 Total investments, at fair value 897,052 43,094 113,410 1,053,556 725,796 Investments of VIEs, at fair value — 891,256 321,069 1,212,325 Investments of VIEs, valued using NAV — — — 844 Total investments of VIEs, at fair value — 891,256 321,069 1,213,169 Derivative assets (2) — 249 — 249 Total Assets $ 1,561,301 $ 934,599 $ 434,479 $ 2,931,223 Liabilities Liabilities of VIEs, at fair value $ — $ 850,147 $ — $ 850,147 Contingent consideration obligations (3) — — 112,514 112,514 Derivative liabilities (2) — 93 — 93 Total Liabilities $ — $ 850,240 $ 112,514 $ 962,754 As of December 31, 2018 Level I Level II Level III Total Cost Assets U.S. Treasury securities, at fair value $ 392,932 $ — $ — $ 392,932 $ 390,336 Investments, at fair value: Investment in Athene Holding 761,807 — — 761,807 592,572 Other investments — 42,782 96,370 (1) 139,152 124,379 Total investments, at fair value 761,807 42,782 96,370 900,959 716,951 Investments of VIEs, at fair value — 877,427 295,987 1,173,414 Investments of VIEs, valued using NAV — — — 2,263 Total investments of VIEs, at fair value — 877,427 295,987 1,175,677 Derivative assets (2) — 388 — 388 Total Assets $ 1,154,739 $ 920,597 $ 392,357 $ 2,469,956 Liabilities Liabilities of VIEs, at fair value $ — $ 855,461 $ — $ 855,461 Contingent consideration obligations (3) — — 74,487 74,487 Derivative liabilities (2) — 681 — 681 Total Liabilities $ — $ 856,142 $ 74,487 $ 930,629 (1) Other investments as of December 31, 2019 and December 31, 2018 excludes $25.8 million and $17.0 million , respectively, of performance allocations classified as Level III related to certain investments for which the Company has elected the fair value option. The Company’s policy is to account for performance allocations as investments. (2) Derivative assets and derivative liabilities are presented as a component of Other assets and Other liabilities, respectively, in the consolidated statements of financial condition. (3)
Changes in Fair Value in Financial Assets, Measured at Fair Value and Characterized as Level III Investments	The following tables summarize the changes in financial assets measured at fair value for which Level III inputs have been used to determine fair value: For the Year Ended December 31, 2019 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 96,370 $ 295,987 $ 392,357 Purchases 15,048 — 15,048 Sale of investments/distributions (3,742 ) — (3,742 ) Net realized gains 932 — 932 Changes in net unrealized gains 7,219 35,120 42,339 Cumulative translation adjustment (2,105 ) (5,922 ) (8,027 ) Transfer into Level III (1) 1,693 — 1,693 Transfer out of Level III (1) (2,005 ) (4,116 ) (6,121 ) Balance, End of Period $ 113,410 $ 321,069 $ 434,479 Change in net unrealized gains included in principal investment income related to investments still held at reporting date $ 7,189 $ — $ 7,189 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 35,122 35,122 For the Year Ended December 31, 2018 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 35,701 $ 132,348 $ 168,049 Purchases 112,645 151,877 264,522 Sale of investments/distributions (49,288 ) (17,000 ) (66,288 ) Net realized losses (106 ) (1,084 ) (1,190 ) Changes in net unrealized gains 12,683 45,506 58,189 Cumulative translation adjustment (591 ) (16,787 ) (17,378 ) Transfer into Level III (1) 4,682 18,783 23,465 Transfer out of Level III (1) (19,356 ) (17,656 ) (37,012 ) Balance, End of Period $ 96,370 $ 295,987 $ 392,357 Change in net unrealized gains included in principal investment income related to investments still held at reporting date $ 12,618 $ — $ 12,618 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 44,350 44,350 (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial assets to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services.
Changes in Fair Value in Financial Liabilities, Measured at Fair Value and Characterized as Level III Liabilities	The following table summarizes the changes in fair value in financial liabilities measured at fair value for which Level III inputs have been used to determine fair value: For the Years Ended December 31, 2019 2018 Contingent Consideration Obligations Liabilities of Consolidated VIEs & Apollo Funds Contingent Consideration Obligations Total Balance, Beginning of Period $ 74,487 $ 12,620 $ 92,600 $ 105,220 Payments (5,055 ) (12,620 ) (6,947 ) (19,567 ) Changes in net unrealized (gains) losses (1) 43,082 — (11,166 ) (11,166 ) Balance, End of Period $ 112,514 $ — $ 74,487 $ 74,487 (1) Changes in fair value of contingent consideration obligations are recorded in profit sharing expense in the consolidated statements of operations.
Quantitative Inputs and Assumptions used for Financial Assets and Liabilities Categorized in Level III	The following tables summarize the quantitative inputs and assumptions used for financial assets and liabilities categorized as Level III under the fair value hierarchy: As of December 31, 2019 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average Financial Assets Other investments $ 5,350 Third Party Pricing N/A N/A N/A 108,060 Discounted cash flow Discount rate 15.0% - 16.0% 15.6% Investments of consolidated VIEs: Equity securities 321,069 Book value multiple Book value multiple 0.61x 0.61x Discounted cash flow Discount rate 13.1% 13.1% Total Financial Assets $ 434,479 Financial Liabilities Contingent consideration obligation $ 112,514 Discounted cash flow Discount rate 17.3% 17.3% Total Financial Liabilities $ 112,514 As of December 31, 2018 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average Financial Assets Other investments $ 6,901 Third Party Pricing N/A N/A N/A 89,469 Discounted cash flow Discount Rate 15.0% - 16.0% 15.5% Investments of consolidated VIEs: Corporate loans/bonds/CLO notes 4,116 Third party pricing N/A N/A N/A Equity securities 291,871 Book value multiple Book value multiple 0.65x 0.65x Discounted cash flow Discount rate 15.2% 15.2% Total investments of consolidated VIEs 295,987 Total Financial Assets $ 392,357 Financial Liabilities Contingent consideration obligation $ 74,487 Discounted cash flow Discount rate 17.0% 17.0% Total Financial Liabilities $ 74,487

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consisted of the following: As of As of Fixed assets $ 138,359 $ 109,039 Less: Accumulated depreciation and amortization (96,347 ) (89,049 ) Fixed assets, net 42,012 19,990 Deferred equity-based compensation (1) 132,422 80,443 Prepaid expenses 55,189 49,648 Intangible assets, net 20,615 18,899 Tax receivables 48,106 10,464 Other 28,105 12,725 Total Other Assets $ 326,449 $ 192,169 (1) Deferred equity-based compensation relates to the value of equity-based awards that have been or are expected to be granted in connection with the settlement of certain profit sharing arrangements. A corresponding amount for awards expected to be granted of $112.4 million and $54.5 million , as of December 31, 2019 and 2018 , respectively, is included in other liabilities on the consolidated statements of financial condition.
Schedule of Finite-Lived Intangible Assets	Intangible assets, net consists of the following: As of December 31, 2019 2018 Intangible assets/management contracts $ 262,169 $ 254,295 Accumulated amortization (241,554 ) (235,396 ) Intangible assets, net $ 20,615 $ 18,899 The changes in intangible assets, net consist of the following and includes approximately $1.0 million of indefinite-lived intangible assets as of both December 31, 2019 and 2018 . For the Years Ended December 31, 2019 2018 2017 Balance, beginning of year $ 18,899 $ 18,842 $ 22,721 Amortization expense (6,159 ) (5,629 ) (6,428 ) Acquisitions / additions 7,875 5,686 2,549 Balance, end of year $ 20,615 $ 18,899 $ 18,842
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Expected amortization of these intangible assets for each of the next 5 years and thereafter is as follows: 2020 2021 2022 2023 2024 Thereafter Total Amortization of intangible assets $ 7,944 $ 6,491 $ 3,708 $ 788 $ 393 $ 331 $ 19,655

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Lease Expense, Supplemental Cash Flow Information and Maturities of Lease Liabilities	The table below presents operating lease expenses: For the Years Ended December 31, 2019 2018 2017 Operating lease cost $ 42,680 $ 37,144 $ 34,184 The following table presents supplemental cash flow information related to operating leases: For the Years Ended December 31, 2019 2018 2017 Operating cash flows for operating leases $ 30,626 $ 35,654 $ 37,233 Supplemental information related to leases is as follows: As of Weighted average remaining lease term (in years) 12.3 Weighted average discount rate 3.3 %
Lease Payments by Maturity	As of December 31, 2019 , the Company’s total lease payments by maturity are presented in the following table: Operating Lease Payments 2020 $ 26,780 2021 26,793 2022 22,487 2023 20,685 2024 19,767 Thereafter 140,221 Total lease payments $ 256,733 Less imputed interest (47,254 ) Present value of lease payments $ 209,479
Aggregate Minimum Future Payments for Operating Leases	As of December 31, 2018, the approximate aggregate minimum future payments required for operating leases under U.S. GAAP applicable to that period were as follows: 2019 2021 2022 2023 2024 Thereafter Total Aggregate minimum future payments $ 39,970 $ 25,923 $ 33,022 $ 36,243 $ 35,231 $ 400,889 $ 571,278

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense (benefit)	The provision for income taxes is presented in the following table: For the Years Ended December 31, 2019 2018 2017 Current: Federal income tax $ 1,973 $ — $ 3,314 Foreign income tax (1) 10,792 4,208 3,271 State and local income tax 3,408 1,633 6,364 Subtotal 16,173 5,841 12,949 Deferred: Federal income tax (120,457 ) 33,936 290,213 Foreign income tax (1) 128 — — State and local income tax (24,838 ) 46,244 22,783 Subtotal (145,167 ) 80,180 312,996 Total Income Tax Provision (Benefit) $ (128,994 ) $ 86,021 $ 325,945 (1) The foreign income tax provision was calculated on $44.7 million , $41.8 million and $24.0 million of pre-tax income generated in foreign jurisdictions for the years ended December 31, 2019, 2018 and 2017 , respectively.
Schedule of effective tax rate reconciliation	The following table reconciles the U.S. Federal statutory tax rate to the effective income tax rate: For the Years Ended December 31, 2019 2018 2017 U.S. Federal Statutory Tax Rate 21.0 % 21.0 % 35.0 % Income Passed Through to Non-Controlling Interests (10.7 ) (24.2 ) (16.3 ) (Income) Loss Passed Through to Class A Shareholders (2.7 ) 53.8 (10.4 ) State and Local Income Taxes (net of Federal Benefit) 1.1 29.8 1.2 Impact of Federal Tax Reform — — 9.7 Impact of Corporate Conversion (16.7 ) — — Other (1.2 ) 1.3 (0.8 ) Effective Income Tax Rate (9.2 )% 81.7 % 18.4 %
Schedule of deferred tax assets and liabilities	The Company’s deferred tax assets and liabilities in the consolidated statements of financial condition consist of the following: As of December 31, 2019 2018 Deferred Tax Assets: Depreciation and amortization $ 270,746 $ 275,793 Net operating loss carryforwards 4,452 16,039 Deferred revenue 5,186 6,469 Equity-based compensation 9,528 3,849 Foreign tax credit 10,725 15,563 Basis difference in investments 168,573 — Other 11,042 7,174 Total Deferred Tax Assets 480,252 324,887 Deferred Tax Liabilities: Unrealized gains from investments 6,299 18,108 Other 788 685 Total Deferred Tax Liabilities 7,087 18,793 Total Deferred Tax Assets, Net $ 473,165 $ 306,094
Impact to the deferred tax asset, tax receivable agreement liability and additional paid in capital	The table below presents the impact to the deferred tax asset, tax receivable agreement liability and additional paid in capital related to the exchange of AOG Units for Class A Common Stock. Exchange of AOG Units for Class A Common Stock Increase in Deferred Tax Asset Increase in Tax Receivable Agreement Liability Increase to Additional Paid In Capital For the Year Ended December 31, 2019 $ 171,814 $ 41,954 $ 17,553 For the Year Ended December 31, 2018 $ 45,017 $ 37,891 $ 7,126 For the Year Ended December 31, 2017 $ 56,908 $ 44,972 $ 11,936

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Summary of Debt	Debt consisted of the following: As of December 31, 2019 As of December 31, 2018 Outstanding Balance Fair Value Annualized Weighted Average Interest Rate Outstanding Balance Fair Value Annualized Weighted Average Interest Rate 2024 Senior Notes (1) $ 497,164 $ 529,333 (4) 4.00 % $ 496,512 $ 498,736 (4) 4.00 % 2026 Senior Notes (1) 496,704 540,713 (4) 4.40 496,191 502,107 (4) 4.40 2029 Senior Notes (1) 674,727 761,780 (4) 4.87 — — — 2039 Senior Secured Guaranteed Notes (1) 316,100 354,093 (5) 4.77 — — — 2048 Senior Notes (1) 296,510 350,331 (4) 5.00 296,386 290,714 (4) 5.00 2050 Subordinated Notes 297,008 304,125 (4) 4.95 — — — Secured Borrowing (2) 17,921 17,921 (3) 1.99 — — — 2014 AMI Term Facility I — — — 15,633 15,633 (3) 2.00 2014 AMI Term Facility II (2) 17,266 17,266 (3) 1.75 17,657 17,657 (3) 1.75 2016 AMI Term Facility I (2) 18,915 18,915 (3) 1.30 19,371 19,371 (3) 1.32 2016 AMI Term Facility II (2) 18,285 18,285 (3) 1.40 18,698 18,698 (3) 1.70 Total Debt $ 2,650,600 $ 2,912,762 $ 1,360,448 $ 1,362,916 (1) Includes amortization of note discount, as applicable. Outstanding balance is presented net of unamortized debt issuance costs: As of December 31, 2019 As of December 31, 2018 2024 Senior Notes $ 2,394 $ 2,946 2026 Senior Notes 3,014 3,483 2029 Senior Notes 5,928 — 2039 Senior Secured Guaranteed Notes 8,900 — 2048 Senior Notes 3,185 3,298 2050 Subordinated Notes 2,992 — Total $ 26,413 $ 9,727 (2) Apollo Management International LLP (“AMI”), a subsidiary of the Company, entered into several credit facilities (collectively referred to as the “AMI Facilities”) to fund the Company’s investment in certain European CLOs it manages: Facility Date Loan Amount Secured Borrowing December 19, 2019 € 15,984 2014 AMI Term Facility II December 9, 2014 € 15,400 2016 AMI Term Facility I January 18, 2016 € 16,870 2016 AMI Term Facility II June 22, 2016 € 16,308 The Secured Borrowing consists of an obligation through a repurchase agreement redeemable at maturity with a third party lender. The weighted average remaining maturity of the Secured Borrowing is 11.0 years. (3) Fair value is based on obtained broker quotes. These notes are classified as a Level III liability within the fair value hierarchy based on the number and quality of broker quotes obtained, the standard deviations of the observed broker quotes and the percentage deviation from independent pricing services. For instances where broker quotes are not available, a discounted cash flow method is used to obtain a fair value. (4) Fair value is based on obtained broker quotes. These notes are classified as a Level II liability within the fair value hierarchy based on the number and quality of broker quotes obtained, the standard deviations of the observed broker quotes and the percentage deviation from independent pricing services. (5) Fair value is based on a discounted cash flow method. These notes are classified as a Level III liability within the fair value hierarchy.
Schedule of Interest Expense	The following table presents the interest expense incurred related to the Company’s debt: For the Years Ended December 31, 2019 2018 2017 Interest Expense: (1) 2013 AMH Credit Facilities $ — $ 2,387 $ 8,328 2018 AMH Credit Facility 1,277 489 — 2024 Senior Notes 20,652 20,652 20,652 2026 Senior Notes 22,513 22,513 22,513 2029 Senior Notes 27,743 — — 2039 Senior Secured Guaranteed Notes 9,182 — — 2048 Senior Notes 15,124 12,009 — 2050 Subordinated Notes 586 — — AMI Term Facilities/Secured Borrowing 1,292 1,324 1,380 Total Interest Expense $ 98,369 $ 59,374 $ 52,873 (1) Debt issuance costs incurred in connection with the 2013 AMH Credit Facilities, the 2018 AMH Credit Facility, the 2024 Senior Notes, the 2026 Senior Notes, the 2029 Senior Notes, the 2039 Senior Secured Guaranteed Notes, the 2048 Senior Notes and the 2050 Subordinated Notes are amortized into interest expense over the term of the debt arrangement. The following table presents the performance allocations earned from AAA Investments: For the Years Ended December 31, 2019 2018 2017 Performance allocations from AAA Investments, net (1) $ 291 $ (5,158 ) 23,119 (1) Net of related profit sharing expense. The following table presents the revenues earned in aggregate from Athene, Athora and AAA Investments: For the Years Ended December 31, 2019 2018 2017 Revenues earned in aggregate from Athene, Athora and AAA Investments, net (1)(2) $ 788,066 $ 310,412 529,150 (1) Consisting of management fees, sub-advisory fees, performance revenues from Athene, Athora and AAA Investments, as applicable (net of related profit sharing expense) and changes in the market value of the Athene Holding shares owned directly by Apollo. These amounts exclude the deferred revenue recognized as management fees associated with the vesting of AHL Awards granted to employees of Apollo as further described in note 13 . (2) Gains (losses) on the market value of the shares of Athene Holding owned directly by Apollo were $137.2 million , $(186.6) million and $95.5 million for the years ended December 31, 2019 , 2018 and 2017 respectively. The following table presents performance allocations and profit sharing payable from AAA Investments: As of As of Performance allocations $ 2,005 $ 1,611 Profit sharing payable 550 442
Schedule of Maturities of Long-term Debt	The table below presents the contractual maturities for the Company's debt arrangements as of December 31, 2019 : 2020 2021 2022 2023 2024 Thereafter Total 2024 Senior Notes $ — $ — $ — $ — $ 500,000 $ — $ 500,000 2026 Senior Notes — — — — — 500,000 500,000 2029 Senior Notes — — — — — 675,000 675,000 2039 Senior Secured Guaranteed Notes — — — — — 325,000 325,000 2048 Senior Notes — — — — — 300,000 300,000 2050 Subordinated Notes — — — — — 300,000 300,000 Secured Borrowing — — — — — 17,921 17,921 2014 AMI Term Facility II — — 17,267 — — — 17,267 2016 AMI Term Facility I — — — — — 18,915 18,915 2016 AMI Term Facility II — — — 18,285 — — 18,285 Total Obligations as of December 31, 2019 $ — $ — $ 17,267 $ 18,285 $ 500,000 $ 2,136,836 $ 2,672,388

NET INCOME PER SHARE OF CLASS_2

NET INCOME PER SHARE OF CLASS A COMMON STOCK (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Basic and Diluted Net Income Per Share of Class A Common Stock	The table below presents basic and diluted net income per share of Class A Common Stock using the two-class method: Basic and Diluted For the Years Ended December 31, 2019 2018 2017 Numerator: Net income (loss) attributable to Apollo Global Management, Inc. Class A Common Stockholders $ 806,537 $ (42,038 ) $ 615,566 Dividends declared on Class A Common Stock (1) (417,386 ) (388,744 ) (354,878 ) Dividends on participating securities (2) (17,888 ) (18,119 ) (11,822 ) Earnings allocable to participating securities (17,343 ) — (3) (8,828 ) Undistributed income (loss) attributable to Class A Common Stockholders: Basic 353,920 (448,901 ) 240,038 Dilution effect on distributable income attributable to unvested RSUs 3,173 — 2,706 Undistributed income (loss) attributable to Class A Common Stockholders: Diluted $ 357,093 $ (448,901 ) $ 242,744 Denominator: Weighted average number of shares of Class A Common Stock outstanding: Basic 207,072,413 199,946,632 190,931,743 Dilution effect of unvested RSUs 1,676,111 — 1,649,950 Weighted average number of shares of Class A Common Stock outstanding: Diluted 208,748,524 199,946,632 192,581,693 Net Income per share of Class A Common Stock: Basic (4) Distributed Income $ 2.02 $ 1.93 $ 1.85 Undistributed Income (Loss) 1.70 (2.23 ) 1.27 Net Income (Loss) per share of Class A Common Stock: Basic $ 3.72 $ (0.30 ) $ 3.12 Net Income per share of Class A Common Stock: Diluted (4) Distributed Income $ 2.01 $ 1.93 $ 1.84 Undistributed Income (Loss) 1.70 (2.23 ) 1.26 Net Income (Loss) per share of Class A Common Stock: Diluted $ 3.71 $ (0.30 ) $ 3.10 (1) See note 14 for information regarding the quarterly dividends declared and paid during 2019 , 2018 and 2017. (2) Participating securities consist of vested and unvested RSUs that have rights to dividends and unvested restricted shares. (3) No allocation of undistributed losses was made to the participating securities as the holders do not have a contractual obligation to share in the losses of the Company with Class A Common Stockholders. (4) For the years ended December 31, 2019 and 2017, unvested RSUs were determined to be dilutive, and were accordingly included in the diluted earnings per share calculation. For the years ended December 31, 2019 and 2017, the share options, AOG Units and participating securities were determined to be anti-dilutive and were accordingly excluded from the diluted earnings per share calculation. For the year ended December 31, 2018 , all of the classes of securities were determined to be anti-dilutive.
Schedule of Weighted Average Number of Shares	The following table summarizes the anti-dilutive securities. For the Years Ended December 31, 2019 2018 2017 Weighted average vested RSUs 430,748 384,592 454,929 Weighted average unvested RSUs N/A 8,850,291 N/A Weighted average unexercised options 152,084 204,167 213,545 Weighted average AOG Units outstanding 195,124,877 203,019,177 211,360,975 Weighted average unvested restricted shares 959,069 872,252 300,921

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule or Description of Weighted Average Discount Rate	The following table summarizes the weighted average discounts for Plan Grants, Bonus Grants and Performance Grants. For the Years Ended December 31, 2019 2018 2017 Plan Grants: Discount for the lack of distributions until vested (1) 18.7 % 12.0 % 11.8 % Marketability discount for transfer restrictions (2) 4.9 % 4.7 % 3.6 % Bonus Grants: Marketability discount for transfer restrictions (2) 4.1 % 2.3 % 2.3 % Performance Grants: Discount for the lack of distributions until vested (1) 14.0 % 12.8 % N/A Marketability discount for transfer restrictions (2) 5.9 % 5.6 % N/A (1) Based on the present value of a growing annuity calculation. (2) Based on the Finnerty Model calculation.
Schedule or Description of Forfeiture Rates and Equity Based Compensation Expense	The following table summarizes activity for the AHL Awards that were granted to certain employees of the Company: AHL Awards Unvested Weighted Average Grant Date Fair Value AHL Awards Vested Total Number of AHL Awards Outstanding Balance at January 1, 2019 143,399 $ 21.75 606,351 749,750 Granted 7,460 37.50 — 7,460 Vested (109,666 ) 19.66 109,666 — Forfeited — — — — Delivered — 17.38 (124,274 ) (124,274 ) Balance at December 31, 2019 41,193 (1) $ 30.08 591,743 632,936 (1) 33,443 AHL Awards are expected to vest over the next 1.2 years and 7,750 AHL Awards may vest if certain performance metrics are achieved. The following table presents the actual forfeiture rates and equity-based compensation expense recognized: For the Years Ended December 31, 2019 2018 2017 Actual forfeiture rate 2.1 % 7.8 % 9.8 % Equity-based compensation $ 146,096 $ 146,708 $ 68,225 For the Years Ended December 31, 2019 2018 2017 Equity-based compensation $ 71,438 $ 75,188 $ — The following table summarizes the management fees, equity-based compensation expense and actual forfeiture rates for the AHL Awards: For the Years Ended December 31, 2019 2018 2017 Management fees $ 1,155 $ (2,743 ) $ 4,058 Equity-based compensation $ 3,576 $ (2,136 ) $ 6,913 Actual forfeiture rate — % 3.6 % 0.1 % The following table summarizes the management fees, equity-based compensation expense, and actual forfeiture rates for the ARI Awards: For the Years Ended December 31, 2019 2018 2017 Management fees $ 16,697 $ 11,952 $ 11,120 Equity-based compensation $ 16,697 $ 11,952 $ 11,120 Actual forfeiture rate 1.2 % 2.6 % 2.5 % The following table presents the actual forfeiture rates and equity-based compensation expense recognized: For the Years Ended December 31, 2019 2018 2017 Actual forfeiture rate 0.8 % 2.9 % 0.8 % Equity-based compensation $ 17,095 $ 13,515 $ 5,064
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes RSU activity: Unvested Weighted Average Grant Date Fair Value Vested Total Number of RSUs Outstanding Balance at January 1, 2019 9,839,968 $ 26.52 2,380,783 12,220,751 (1) Granted 4,650,408 26.11 — 4,650,408 Forfeited (282,419 ) 25.88 (18,524 ) (300,943 ) Vested (4,423,264 ) 26.43 4,423,264 — Issued — 23.87 (4,435,905 ) (4,435,905 ) Balance at December 31, 2019 9,784,693 (2) $ 26.38 2,349,618 12,134,311 (1) (1) Amount excludes RSUs which have vested and have been issued in the form of Class A Common Stock. (2) RSUs were expected to vest over the weighted average period of 3.2 years. The following table summarizes the restricted share award activity: Unvested Weighted Average Grant Date Fair Value Vested Total Number of Restricted Share Awards Outstanding Balance at January 1, 2019 1,088,983 $ 30.96 — 1,088,983 Granted 303,458 36.66 — 303,458 Forfeited (10,550 ) 33.80 — (10,550 ) Issued — 30.67 (491,433 ) (491,433 ) Vested (491,433 ) 30.67 491,433 — Balance at December 31, 2019 890,458 (1) $ 33.02 — 890,458 (1) Restricted share awards were expected to vest over the next 1.7 years. The following tables summarize activity for the ARI Awards that were granted to certain of the Company’s employees: ARI Awards Unvested Weighted Average Grant Date Fair Value ARI Awards Vested Total Number of ARI Awards Outstanding Balance at January 1, 2019 1,414,614 $ 16.91 1,167,751 2,582,365 Granted 1,281,045 18.54 — 1,281,045 Forfeited (32,204 ) 18.33 — (32,204 ) Delivered — 16.77 (811,163 ) (811,163 ) Vested (510,922 ) 18.11 510,922 — Balance at December 31, 2019 2,152,533 (1) $ 17.57 867,510 3,020,043 (1) ARI Awards were expected to vest over the next 2.3 years. The following table summarizes activity for the AINV Awards that were granted to certain of the Company’s employees: AINV Unvested RSUs Weighted Average Grant Date Fair Value AINV RSUs Vested Total Number of AINV Awards Outstanding Balance at January 1, 2019 65,002 $ 10.89 28,986 93,988 Granted 68,647 11.09 — 68,647 Forfeited — — — — Delivered — 15.46 (30,390 ) (30,390 ) Vested (53,274 ) 16.05 53,274 — Balance at December 31, 2019 80,375 $ 15.89 51,870 132,245 (1) AINV Awards were expected to vest over the next 1.6 years.
Schedule of Share-based Compensation, Activity	Below is a reconciliation of the equity-based compensation allocated to AGM Inc.: For the Year Ended December 31, 2019 Total Amount Non-Controlling Interest % in Apollo Operating Group Allocated to Non-Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, Inc. RSUs, share options and restricted share awards $ 161,995 — % $ — $ 161,995 AHL Awards 3,576 44.7 1,597 1,979 Other equity-based compensation awards 24,077 44.7 10,758 13,319 Total equity-based compensation $ 189,648 12,355 177,293 Less other equity-based compensation awards (2) (12,355 ) (30,575 ) Capital increase related to equity-based compensation $ — $ 146,718 For the Year Ended December 31, 2018 Total Amount Non-Controlling Interest % in Apollo Operating Group Allocated to Non-Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, Inc. RSUs, share options and restricted share awards $ 159,575 — % $ — $ 159,575 AHL Awards (2,136 ) 50.1 (1,070 ) (1,066 ) Other equity-based compensation awards 15,789 50.1 7,913 7,876 Total equity-based compensation $ 173,228 6,843 166,385 Less other equity-based compensation awards (2) (6,843 ) (18,848 ) Capital increase related to equity-based compensation $ — $ 147,537 For the Year Ended December 31, 2017 Total Amount Non-Controlling Interest % in Apollo Operating Group Allocated to Non-Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, Inc. RSUs, share options and restricted share awards $ 73,352 — % $ — $ 73,352 AHL Awards 6,913 51.5 3,560 3,353 Other equity-based compensation awards 11,185 51.5 5,760 5,425 Total equity-based compensation $ 91,450 9,320 82,130 Less other equity-based compensation awards (2) (9,320 ) (9,956 ) Capital increase related to equity-based compensation $ — $ 72,174 (1) Calculated based on average ownership percentage for the period considering issuances of Class A shares or Class A Common Stock, as applicable, during the period. (2) Includes equity-based compensation reimbursable by certain funds.

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Summary of Issuance of Shares of Class A Common Stock for Equity-based Awards	The table below summarizes the issuance of shares of Class A Common Stock for equity-based awards: For the Years Ended December 31, 2019 2018 2017 Shares of Class A Common Stock issued in settlement of vested RSUs and share options exercised (1) 4,640,072 3,866,209 3,565,098 Reduction of shares of Class A Common Stock issued (2) (1,854,313 ) (1,311,108 ) (1,318,632 ) Shares of Class A Common Stock purchased related to share issuances and forfeitures (3) 14,051 (208,521 ) 76,739 Issuance of shares of Class A Common Stock for equity-based awards 2,799,810 2,346,580 2,323,205 (1) The gross value of shares issued was $148.2 million , $129.0 million and $85.1 million for the years ended December 31, 2019, 2018 and 2017 , respectively, based on the closing price of a share of Class A Common Stock at the time of issuance. (2) Cash paid for tax liabilities associated with net share settlement was $56.6 million and $43.7 million and $31.7 million for the years ended December 31, 2019, 2018 and 2017 , respectively. (3) Certain Apollo employees receive a portion of the profit sharing proceeds of certain funds in the form of (a) restricted shares of Class A Common Stock of AGM Inc. 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 Class A Common Stock on the open market and retire them. During the years ended December 31, 2019, 2018 and 2017 , we issued 289,714 , 927,020 and 495,326 of such restricted shares and 102,089 , 85,371 and zero of such RSUs under the Equity Plan, respectively, and repurchased 265,113 , 1,093,867 and 413,850 shares of Class A Common Stock in open-market transactions not pursuant to a publicly-announced repurchase plan or program, respectively. In addition, there were 10,550 , 41,674 and 4,737 restricted shares forfeited during the years ended December 31, 2019, 2018 and 2017 , respectively.
Schedule of Dividends and Distributions	The table below presents information regarding the quarterly dividends and distributions which were made at the sole discretion of the Former Manager of the Company prior to the Conversion and at the sole discretion of the executive committee of the board of directors subsequent to the Conversion (in millions, except per share data). Certain subsidiaries of AGM Inc. 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 in a given fiscal year; therefore, the net amounts ultimately distributed by AGM Inc. to its Class A Common Stockholders in respect of each fiscal year are generally expected to be less than the net amounts distributed to AOG Unitholders. Subsequent to the Conversion, distributions from AGM Inc. are referred to as dividends. Dividend Declaration Date Dividend per share of Class A Common Stock Payment Date Dividend to Class A Common Stockholders Distribution to Non-Controlling Interest Holders in the Apollo Operating Group Total Distributions from Apollo Operating Group Distribution Equivalents on Participating Securities February 3, 2017 $ 0.45 February 28, 2017 $ 84.2 $ 97.0 $ 181.2 $ 2.9 N/A — April 13, 2017 — 20.5 (1) 20.5 — April 28, 2017 0.49 May 31, 2017 94.5 102.9 197.4 3.3 August 2, 2017 0.52 August 31, 2017 100.6 108.8 209.4 3.2 November 1, 2017 0.39 November 30, 2017 75.6 81.6 157.2 2.4 For the year ended December 31, 2017 $ 1.85 $ 354.9 $ 410.8 $ 765.7 $ 11.8 February 1, 2018 $ 0.66 February 28, 2018 $ 133.0 $ 133.7 $ 266.7 $ 5.4 N/A — April 12, 2018 — 50.5 (1) 50.5 — May 3, 2018 0.38 May 31, 2018 76.6 77.0 153.6 4.1 August 2, 2018 0.43 August 31, 2018 86.5 87.1 173.6 4.2 November 1, 2018 0.46 November 30, 2018 92.6 93.0 185.6 4.4 For the year ended December 31, 2018 $ 1.93 $ 388.7 $ 441.3 $ 830.0 $ 18.1 January 31, 2019 $ 0.56 February 28, 2019 $ 113.3 $ 113.3 $ 226.6 $ 5.0 N/A — April 12, 2019 — 45.4 (1) 45.4 — May 2, 2019 0.46 May 31, 2019 92.2 93.0 185.2 4.1 July 31, 2019 0.50 August 30, 2019 100.4 101.0 201.4 4.4 N/A — August 15, 2019 — 4.1 (1) 4.1 — N/A — September 26, 2019 — 17.8 (1) 17.8 — November 29, 2019 0.50 November 29, 2019 111.5 90.1 201.6 4.4 For the year ended December 31, 2019 $ 2.02 $ 417.4 $ 464.7 $ 882.1 $ 17.9 (1) On April 13, 2017, April 12, 2018 and April 12, 2019, the Company made a $0.10 , $0.25 and $0.18 per AOG Unit pro rata distribution, respectively, to the Non-Controlling Interest holders in the Apollo Operating Group, in connection with taxes and payments made under the tax receivable agreement. See note 15 for more information regarding the tax receivable agreement. On April 12, 2019, August 15, 2019 and September 26, 2019, the Company made a $0.04 , $0.02 and $0.10 per AOG Unit pro rata distribution, respectively, to the Non-Controlling Interest holders in the Apollo Operating Group, in connection with federal corporate estimated tax payments.
Net Income (Loss) Attributable to Non-Controlling Interests	The table below presents equity interests in Apollo’s consolidated, but not wholly-owned, subsidiaries and funds. Net income and comprehensive income attributable to Non-Controlling Interests consisted of the following: For the Years Ended December 31, 2019 2018 2017 Net income attributable to Non-Controlling Interests in consolidated entities: Interest in management companies and a co-investment vehicle (1) $ 4,755 $ 4,176 $ 4,415 Other consolidated entities 25,749 27,472 4,476 Net income attributable to Non-Controlling Interests in consolidated entities $ 30,504 $ 31,648 $ 8,891 Net income attributable to Non-Controlling Interests in the Apollo Operating Group: Net income $ 1,536,843 $ 19,251 $ 1,443,639 Net income attributable to Non-Controlling Interests in consolidated entities (30,504 ) (31,648 ) (8,891 ) Net income (loss) after Non-Controlling Interests in consolidated entities 1,506,339 (12,397 ) 1,434,748 Adjustments: Income tax provision (benefit) (2) (128,994 ) 86,021 325,945 NYC UBT and foreign tax benefit (3) (15,890 ) (9,764 ) (9,798 ) Net income (loss) in non-Apollo Operating Group entities 51,030 (35,072 ) (200,225 ) Series A Preferred Stock Dividends (17,531 ) (17,531 ) (13,538 ) Series B Preferred Stock Dividends (19,125 ) (14,131 ) — Total adjustments (130,510 ) 9,523 102,384 Net income (loss) after adjustments 1,375,829 (2,874 ) 1,537,132 Weighted average ownership percentage of Apollo Operating Group 48.4 % 50.3 % 52.5 % Net income (loss) attributable to Non-Controlling Interests in Apollo Operating Group $ 663,146 $ (2,021 ) $ 805,644 Net Income attributable to Non-Controlling Interests $ 693,650 $ 29,627 $ 814,535 Other comprehensive income (loss) attributable to Non-Controlling Interests (7,496 ) (17,409 ) 7,180 Comprehensive Income Attributable to Non-Controlling Interests $ 686,154 $ 12,218 $ 821,715 (1) Reflects the remaining interest held by certain individuals who receive an allocation of income from certain of the credit funds managed by Apollo. (2) Reflects all taxes recorded in our consolidated statements of operations. Of this amount, U.S. federal, state, and local corporate income taxes attributable to APO Corp. are added back to income of the Apollo Operating Group before calculating Non-Controlling Interests as the income allocable to the Apollo Operating Group is not subject to such taxes. (3) Reflects NYC UBT and foreign taxes that are attributable to the Apollo Operating Group and its subsidiaries related to its operations in the U.S. as partnerships and in non-U.S. jurisdictions as corporations. As such, these amounts are considered in the income attributable to the Apollo Operating Group.

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Due from related parties and due to related parties are comprised of the following: As of As of Due from Related Parties: Due from credit funds $ 186,495 $ 153,687 Due from private equity funds 27,724 19,993 Due from real assets funds 26,626 42,471 Due from portfolio companies 53,394 67,740 Due from Contributing Partners, employees and former employees 120,830 94,217 Total Due from Related Parties $ 415,069 $ 378,108 Due to Related Parties: Due to Managing Partners and Contributing Partners $ 302,050 $ 285,598 Due to credit funds 7,213 3,444 Due to private equity funds 191,620 136,078 Due to real assets funds 504 315 Total Due to Related Parties $ 501,387 $ 425,435
Schedule of General Partner Obligation	The following table presents the general partner obligation to return previously distributed performance allocations related to certain funds by segment: As of As of Credit $ — $ 1,370 Private Equity 189,252 135,723 Total general partner obligation $ 189,252 $ 137,093
Sub-Allocation Fees Schedule	a sub-allocation fee as follows, which will, in the case of assets acquired after January 1, 2019, be subject to a cap of 10% of the applicable asset’s gross book yield: As of Sub-Allocation Fees: Core Assets (1) 0.065 % Core Plus Assets (2) 0.130 % Yield Assets (3) 0.375 % High Alpha Assets (4) 0.700 % Cash, Treasuries, Equities and Alternatives (5) — % (1) Core assets include public investment grade corporate bonds, municipal securities, agency residential or commercial mortgage backed securities and obligations of any governmental agency or government sponsored entity that is not expressly backed by the U.S. government. (2) Core plus assets include private investment grade corporate bonds, fixed rate first lien commercial mortgage loans (“CML”) and obligations issued or assumed by a financial institution (such an institution, a “financial issuer”) and determined by Apollo to be “Tier 2 Capital” under the Basel III recommendations developed by the Basel Committee on Banking Supervision (or any successor to such recommendations). (3) Yield assets include non-agency residential mortgage-backed securities, investment grade collateralized loan obligations, certain asset-backed securities, commercial mortgage-backed securities, emerging market investments, below investment grade corporate bonds, subordinated debt obligations, hybrid securities or surplus notes issued or assumed by a financial issuer, as rated preferred equity, residential mortgage loans, bank loans, investment grade infrastructure debt and certain floating rate commercial mortgage loans. (4) High alpha assets include subordinated commercial mortgage loans, below investment grade collateralized loan obligations, unrated preferred equity, debt obligations originated by MidCap, below investment grade infrastructure debt, certain loans originated directly by Apollo and agency mortgage derivatives. (5) With respect to Equities and Alternatives, Apollo earns performance revenues of 0% to 20% .
Interest Income and Interest Expense	The following table presents the interest expense incurred related to the Company’s debt: For the Years Ended December 31, 2019 2018 2017 Interest Expense: (1) 2013 AMH Credit Facilities $ — $ 2,387 $ 8,328 2018 AMH Credit Facility 1,277 489 — 2024 Senior Notes 20,652 20,652 20,652 2026 Senior Notes 22,513 22,513 22,513 2029 Senior Notes 27,743 — — 2039 Senior Secured Guaranteed Notes 9,182 — — 2048 Senior Notes 15,124 12,009 — 2050 Subordinated Notes 586 — — AMI Term Facilities/Secured Borrowing 1,292 1,324 1,380 Total Interest Expense $ 98,369 $ 59,374 $ 52,873 (1) Debt issuance costs incurred in connection with the 2013 AMH Credit Facilities, the 2018 AMH Credit Facility, the 2024 Senior Notes, the 2026 Senior Notes, the 2029 Senior Notes, the 2039 Senior Secured Guaranteed Notes, the 2048 Senior Notes and the 2050 Subordinated Notes are amortized into interest expense over the term of the debt arrangement. The following table presents the performance allocations earned from AAA Investments: For the Years Ended December 31, 2019 2018 2017 Performance allocations from AAA Investments, net (1) $ 291 $ (5,158 ) 23,119 (1) Net of related profit sharing expense. The following table presents the revenues earned in aggregate from Athene, Athora and AAA Investments: For the Years Ended December 31, 2019 2018 2017 Revenues earned in aggregate from Athene, Athora and AAA Investments, net (1)(2) $ 788,066 $ 310,412 529,150 (1) Consisting of management fees, sub-advisory fees, performance revenues from Athene, Athora and AAA Investments, as applicable (net of related profit sharing expense) and changes in the market value of the Athene Holding shares owned directly by Apollo. These amounts exclude the deferred revenue recognized as management fees associated with the vesting of AHL Awards granted to employees of Apollo as further described in note 13 . (2) Gains (losses) on the market value of the shares of Athene Holding owned directly by Apollo were $137.2 million , $(186.6) million and $95.5 million for the years ended December 31, 2019 , 2018 and 2017 respectively. The following table presents performance allocations and profit sharing payable from AAA Investments: As of As of Performance allocations $ 2,005 $ 1,611 Profit sharing payable 550 442

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Summary of Fixed and Determinable Payments	As of December 31, 2019 , fixed and determinable payments due in connection with these obligations were as follows: 2020 2021 2022 2023 2024 Thereafter Total Other long-term obligations $ 16,959 $ 1,871 $ 906 $ 673 $ 673 $ 673 $ 21,755

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of Financial Data for Reportable Segments	The following tables present financial data for Apollo’s reportable segments. As of and for the Year Ended December 31, 2019 Credit Segment Private Equity Segment Real Assets Segment Total Reportable Segments Management fees $ 779,266 $ 523,194 $ 188,610 $ 1,491,070 Advisory and transaction fees, net 44,116 71,324 7,450 122,890 Performance fees (1) 21,110 — — 21,110 Fee Related Revenues 844,492 594,518 196,060 1,635,070 Salary, bonus and benefits (196,143 ) (184,403 ) (82,770 ) (463,316 ) General, administrative and other (131,664 ) (99,098 ) (42,242 ) (273,004 ) Placement fees (272 ) (812 ) (1 ) (1,085 ) Fee Related Expenses (328,079 ) (284,313 ) (125,013 ) (737,405 ) Other income, net of Non-Controlling Interest 54 4,306 177 4,537 Fee Related Earnings 516,467 314,511 71,224 902,202 Realized performance fees 169,611 429,152 3,343 602,106 Realized profit sharing expense (93,675 ) (195,140 ) (1,437 ) (290,252 ) Net Realized Performance Fees 75,936 234,012 1,906 311,854 Realized principal investment income, net (2) 8,764 53,782 3,151 65,697 Net interest loss and other (21,997 ) (31,804 ) (11,525 ) (65,326 ) Segment Distributable Earnings (3) $ 579,170 $ 570,501 $ 64,756 $ 1,214,427 Total Assets (3) $ 3,133,685 $ 3,296,742 $ 907,090 $ 7,337,517 (1) Represents certain performance fees from business development companies and Redding Ridge Holdings. (2) Realized principal investment income, net includes dividends from our permanent capital vehicles, net of such amounts used to compensate employees. (3) Refer below for a reconciliation of total revenues, total expenses, other loss and total assets for Apollo’s total reportable segments to total consolidated revenues, total consolidated expenses, total consolidated other income (loss) and total assets. As of and for the Year Ended December 31, 2018 Credit Private Equity Real Assets Total Reportable Management fees $ 642,331 $ 477,185 $ 163,172 $ 1,282,688 Advisory and transaction fees, net 8,872 89,602 13,093 111,567 Performance fees (1) 28,390 — — 28,390 Fee Related Revenues 679,593 566,787 176,265 1,422,645 Salary, bonus and benefits (180,448 ) (160,512 ) (74,002 ) (414,962 ) General, administrative and other (119,450 ) (79,450 ) (40,391 ) (239,291 ) Placement fees (1,130 ) (585 ) (407 ) (2,122 ) Fee Related Expenses (301,028 ) (240,547 ) (114,800 ) (656,375 ) Other income, net of Non-Controlling Interest 1,104 1,923 1,942 4,969 Fee Related Earnings 379,669 328,163 63,407 771,239 Realized performance fees (2) 45,139 279,078 55,971 380,188 Realized profit sharing expense (2) (36,079 ) (156,179 ) (33,371 ) (225,629 ) Net Realized Performance Fees 9,060 122,899 22,600 154,559 Realized principal investment income 19,199 43,150 7,362 69,711 Net interest loss and other (13,619 ) (20,081 ) (8,330 ) (42,030 ) Segment Distributable Earnings (3) $ 394,309 $ 474,131 $ 85,039 $ 953,479 Total Assets (2) $ 2,160,190 $ 2,107,376 $ 524,080 $ 4,791,646 (1) Represents certain performance fees from business development companies and Redding Ridge Holdings. (2) Excludes realized performance fees and realized profit sharing expense settled in the form of shares of Athene Holding during the year ended December 31, 2018. (3) Refer below for a reconciliation of total revenues, total expenses, other income (loss) and total assets for Apollo’s total reportable segments to total consolidated revenues, total consolidated expenses and total consolidated other income (loss). For the Year Ended December 31, 2017 Credit Private Equity Real Assets Total Reportable Management fees 555,586 356,208 170,521 1,082,315 Advisory and transaction fees, net 30,325 84,216 3,083 117,624 Performance fees (1) 17,666 — — 17,666 Fee Related Revenues 603,577 440,424 173,604 1,217,605 Salary, bonus and benefits (172,152 ) (144,391 ) (77,612 ) (394,155 ) General, administrative and other (107,617 ) (81,058 ) (39,904 ) (228,579 ) Placement fees (1,073 ) (4,238 ) (8,602 ) (13,913 ) Fee Related Expenses (280,842 ) (229,687 ) (126,118 ) (636,647 ) Other income, net of Non-Controlling Interest 11,285 27,843 4,327 43,455 Fee Related Earnings 334,020 238,580 51,813 624,413 Realized performance fees (2) 91,982 445,923 93,454 631,359 Realized profit sharing expense (2) (34,409 ) (193,489 ) (50,940 ) (278,838 ) Net Realized Performance Fees 57,573 252,434 42,514 352,521 Realized principal investment income 19,249 44,087 4,906 68,242 Net interest loss and other (16,638 ) (23,131 ) (8,584 ) (48,353 ) Segment Distributable Earnings (3) 394,204 511,970 90,649 996,823
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table reconciles total consolidated revenues to total revenues for Apollo’s reportable segments: For the Years Ended December 31, 2019 2018 2017 Total Consolidated Revenues $ 2,931,849 $ 1,093,065 $ 2,771,803 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (102,672 ) (81,892 ) (75,940 ) Adjustments related to consolidated funds and VIEs (1) 12,854 16,386 4,617 Performance fees (2) (1,036,688 ) 402,700 (1,319,924 ) Principal investment income (170,273 ) (7,614 ) (162,951 ) Total Fee Related Revenues 1,635,070 1,422,645 1,217,605 Realized performance fees (3) 602,106 380,188 631,359 Realized principal investment income, net and other 62,328 66,342 64,873 Total Segment Revenues $ 2,299,504 $ 1,869,175 $ 1,913,837 (1) Represents advisory fees, management fees and performance fees earned from consolidated VIEs which are eliminated in consolidation. Includes non-cash revenues related to equity awards granted by unconsolidated related parties to employees of the Company and certain compensation and administrative related expense reimbursements. (2) Excludes certain performance fees from business development companies and Redding Ridge Holdings. (3) Excludes realized performance fees settled in the form of shares of Athene Holding during the year ended December 31, 2018 . The following table reconciles total consolidated expenses to total expenses for Apollo’s reportable segments: For the Years Ended December 31, 2019 2018 2017 Total Consolidated Expenses $ 1,691,280 $ 902,939 $ 1,360,049 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (103,292 ) (82,724 ) (75,940 ) Reclassification of interest expenses (98,369 ) (59,374 ) (52,873 ) Transaction-related charges, net (1) (49,213 ) 5,631 (17,498 ) Charges associated with corporate conversion (2) (21,987 ) — — Equity-based compensation (70,962 ) (68,229 ) (64,954 ) Total profit sharing expense (3) (594,052 ) (41,868 ) (512,137 ) Dividend-related compensation expense (16,000 ) — — Total Fee Related Expenses 737,405 656,375 636,647 Realized profit sharing expense (4) 290,252 225,629 278,838 Total Segment Expenses $ 1,027,657 $ 882,004 $ 915,485 (1) Represents the addition of expenses of consolidated funds and VIEs, transaction-related charges, non-cash expenses related to equity awards granted by unconsolidated related parties to employees of the Company and certain compensation and administrative expenses. Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. (2) Represents expenses incurred in relation to the Conversion, as described in note 1 . (3) Includes unrealized profit sharing expense, realized profit sharing expense and equity based profit sharing expense and other. (4) Excludes realized profit sharing expense settled in the form of shares of Athene Holding during the year ended December 31, 2018 . The following table reconciles total consolidated other income (loss) to total other loss for Apollo’s reportable segments: For the Years Ended December 31, 2019 2018 2017 Total Consolidated Other Income (Loss) $ 167,280 $ (84,854 ) $ 357,830 Adjustments related to consolidated funds and VIEs (1) (38,607 ) (43,858 ) (9,131 ) Loss from change in tax receivable agreement liability 50,307 (35,405 ) (200,240 ) Net (gains) losses from investment activities (138,117 ) 186,426 (94,774 ) Interest income and other, net of Non-Controlling Interest (36,326 ) (17,340 ) (10,230 ) Other Income, net of Non-Controlling Interest 4,537 4,969 43,455 Net interest loss and other (61,957 ) (38,661 ) (44,984 ) Total Segment Other Loss $ (57,420 ) $ (33,692 ) $ (1,529 ) (1) Represents the addition of other income of consolidated funds and VIEs. The following table presents the reconciliation of income before income tax provision reported in the consolidated statements of operations to Segment Distributable Earnings: For the Years Ended December 31, 2019 2018 2017 Income before income tax provision $ 1,407,849 $ 105,272 $ 1,769,584 Transaction-related charges (1) 49,213 (5,631 ) 17,496 Charges associated with corporate conversion (2) 21,987 — — (Loss) gain from change in tax receivable agreement liability 50,307 (35,405 ) (200,240 ) Net income attributable to Non-Controlling Interests in consolidated entities (30,504 ) (31,648 ) (8,891 ) Unrealized performance fees (3) (434,582 ) 782,888 (688,565 ) Unrealized profit sharing expense (3) 207,592 (274,812 ) 226,319 Equity-based profit sharing expense and other (4) 96,208 91,051 6,980 Equity-based compensation 70,962 68,229 64,954 Unrealized principal investment (income) loss (88,576 ) 62,097 (94,709 ) Unrealized net (gains) losses from investment activities and other (136,029 ) 191,438 (96,105 ) Segment Distributable Earnings $ 1,214,427 $ 953,479 $ 996,823 (1) Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. (2) Represents expenses incurred in relation to the Conversion, as described in note 1 . (3) Includes realized performance fees and realized profit sharing expense settled in the form of shares of Athene Holding during the year ended December 31, 2018 . (4) Equity-based profit sharing expense and other includes certain profit sharing arrangements in which a portion of performance fees distributed to the general partner are allocated by issuance of equity-based awards, rather than cash, to employees of Apollo. Equity-based profit sharing expense and other also includes non-cash expenses related to equity awards granted by unconsolidated related parties to employees of Apollo.
Reconciliation of Assets from Segment to Consolidated	The following table presents the reconciliation of Apollo’s total reportable segment assets to total assets: As of As of Total reportable segment assets $ 7,337,517 $ 4,791,646 Adjustments (1) 1,204,600 1,200,008 Total assets $ 8,542,117 $ 5,991,654 (1)

QUARTERLY FINANCIAL DATA (UNA_2

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Quarterly Financial Information	For the Three Months Ended March 31, June 30, September 30, December 31, 2019 Revenues $ 677,777 $ 636,579 $ 702,721 $ 914,772 Expenses 378,017 342,525 371,372 599,366 Other Income (Loss) 35,461 65,004 (42,151 ) 108,966 Income Before Provision for Taxes $ 335,221 $ 359,058 $ 289,198 $ 424,372 Net Income $ 315,567 $ 342,161 $ 521,094 $ 358,021 Net Income Attributable to Apollo Global Management, Inc. Class A Common Stockholders $ 139,893 $ 155,659 $ 354,106 $ 156,879 Net Income per Class A Common Stock – Basic $ 0.67 $ 0.75 $ 1.64 $ 0.68 Net Income per Class A Common Stock – Diluted $ 0.67 $ 0.75 $ 1.63 $ 0.68 For the Three Months Ended March 31, June 30, September 30, December 31, 2018 Revenues $ 166,903 $ 523,316 $ 517,731 $ (114,885 ) Expenses 214,875 301,394 312,727 73,943 Other Income (Loss) (52,796 ) (59,188 ) 176,780 (149,650 ) Income (Loss) Before Provision for Taxes $ (100,768 ) $ 162,734 $ 381,784 $ (338,478 ) Net Income (Loss) $ (109,348 ) $ 143,810 $ 362,692 $ (377,903 ) Net Income (Loss) Attributable to Apollo Global Management, LLC Class A Shareholders $ (62,645 ) $ 54,658 $ 162,357 $ (196,408 ) Net Income (Loss) per Class A Share - Basic $ (0.34 ) $ 0.25 $ 0.77 $ (1.00 ) Net Income (Loss) per Class A Share - Diluted $ (0.34 ) $ 0.25 $ 0.77 $ (1.00 )

ORGANIZATION (Details)

ORGANIZATION (Details)	12 Months Ended
	Dec. 31, 2019holding_companysegment$ / sharesshares	Sep. 05, 2019$ / sharesshares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of segments | segment	3
Number of holding company | holding_company	6
Class A Common Stock
Entity Information [Line Items]
Common stock, shares issued	222,994,407
Common stock, shares outstanding	222,994,407
Common stock, par value (in USD per share) | $ / shares	$ 0.00001
Class A Common Stock | AGM LLC
Entity Information [Line Items]
Common stock, shares issued		1
Common stock, par value (in USD per share) | $ / shares		$ 0.00001
Class B Common Stock
Entity Information [Line Items]
Common stock, shares issued	1
Common stock, shares outstanding	1
Common stock, par value (in USD per share) | $ / shares	$ 0.00001
Class B Common Stock | AGM LLC
Entity Information [Line Items]
Common stock, shares issued		1
Common stock, par value (in USD per share) | $ / shares		$ 0.00001
Series A Preferred Stock
Entity Information [Line Items]
Preferred stock, shares issued	11,000,000
Preferred stock, shares outstanding	11,000,000
Series A Preferred Stock | AGM LLC
Entity Information [Line Items]
Preferred stock, shares issued		1
Preferred stock, shares outstanding	1
Preferred stock, liquidation preference (in USD per share) | $ / shares		$ 25
Series B Preferred Stock
Entity Information [Line Items]
Preferred stock, shares issued	12,000,000
Preferred stock, shares outstanding	12,000,000
Series B Preferred Stock | AGM LLC
Entity Information [Line Items]
Preferred stock, shares issued		1
Preferred stock, shares outstanding	1
Preferred stock, liquidation preference (in USD per share) | $ / shares		$ 25
Class C Common Stock
Entity Information [Line Items]
Common stock, shares issued	1
Common stock, shares outstanding	1
Common stock, par value (in USD per share) | $ / shares	$ 0.00001
Class C Common Stock | AGM LLC
Entity Information [Line Items]
Common stock, shares issued		1
Common stock, par value (in USD per share) | $ / shares		$ 0.00001
Intermediate Holding Companies
Entity Information [Line Items]
Economic interest percentage	55.30%
Holdings
Entity Information [Line Items]
Economic interest percentage	44.70%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Level I
New Accounting Pronouncement, Early Adoption [Line Items]
Money market funds and U.S. treasury securities	$ 253.5	$ 231.8

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred Revenue (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Accounting Policies [Abstract]
Deferred revenue recognized	$ 96.6

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Profit Sharing (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Accounting Policies [Abstract]
Dividends received	$ 16

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - 401(k) Savings Plan (Details)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Percent of eligible employee contributions	50.00%
Percent of the eligible employees’ compensation	3.00%
Service period	3 years

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenues (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Jan. 01, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment	$ 19,360	$ (22,901)
Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment	$ 19,400

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	Dec. 12, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Line Items]
Goodwill		$ 93,911	$ 88,852
Acquisition of Goodwill	$ 5,000	5,059	0	$ 0
Credit
Goodwill [Line Items]
Acquisition of Goodwill		69,800	64,800
Private Equity
Goodwill [Line Items]
Acquisition of Goodwill		23,100	23,100
Real Assets
Goodwill [Line Items]
Acquisition of Goodwill		$ 1,000	$ 1,000

INVESTMENTS - Apollo's Investme

INVESTMENTS - Apollo's Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investments, at fair value	$ 1,053,556	$ 900,959
Equity method investments	1,048,732	909,471
Performance allocations	1,507,571	912,182	$ 1,828,930
Total Investments	$ 3,609,859	$ 2,722,612

INVESTMENTS - Summarized Financ

INVESTMENTS - Summarized Financial Information of Athene Holding (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statements of Operations
Revenues	$ 3,159,574	$ 2,406,442	$ 2,781,891
Expenses	3,012,114	2,145,153	1,076,972
Income before income tax provision	147,460	261,289	1,704,919
Net income available to Athene shareholders	6,519,985	(2,869,174)	8,479,395
Investment in Athene Holding
Statements of Operations
Revenues	16,258	6,637	8,788
Expenses	13,956	5,462	7,324
Income before income tax provision	2,302	1,175	1,464
Income tax provision	117	122	106
Net income	2,185	1,053	1,358
Net income attributable to non-controlling interests	(13)	0	0
Net income available to Athene shareholders	2,172	1,053	1,358
Preferred stock dividends	(36)	0	0
Net income available to Athene common shareholders	$ 2,136	$ 1,053	$ 1,358

INVESTMENTS - Summary of Net Ga

INVESTMENTS - Summary of Net Gains (Losses) from Investment Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Realized gains on sales of investments, net	$ 45	$ 67	$ 103
Net change in unrealized gains (losses) due to changes in fair value	138,109	(186,516)	95,001
Net gains (losses) from investment activities	$ 138,154	$ (186,449)	$ 95,104

INVESTMENTS - Summary of Equity

INVESTMENTS - Summary of Equity Method Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 1,048,732	$ 909,471
Credit
Schedule of Equity Method Investments [Line Items]
Equity method investments	318,054	279,888
Credit | AINV
Schedule of Equity Method Investments [Line Items]
Equity method investments	51,000	53,900
Value of company's investment	51,300	36,700
Private Equity
Schedule of Equity Method Investments [Line Items]
Equity method investments	632,540	534,818
Private Equity | Fund VIII
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 370,700	$ 356,600
Ownership percentage	2.20%	2.20%
Real Assets
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 98,138	$ 94,765

INVESTMENTS - Summarized Fina_2

INVESTMENTS - Summarized Financial Information of Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statements of Financial Condition
Investments	$ 79,127,724	$ 64,841,922
Assets	85,427,831	69,709,738
Liabilities	27,778,786	21,831,381
Equity	57,649,045	47,878,357
Statements of Operations
Revenues/Investment Income	3,159,574	2,406,442	$ 2,781,891
Expenses	3,012,114	2,145,153	1,076,972
Net Investment Income (Loss)	147,460	261,289	1,704,919
Net Realized and Unrealized Gain (Loss)	6,372,525	(3,130,463)	6,774,476
Net income available to Athene shareholders	6,519,985	(2,869,174)	8,479,395
Credit
Statements of Financial Condition
Investments	34,361,782	26,461,258
Assets	39,128,474	29,400,363
Liabilities	22,069,959	17,834,650
Equity	17,058,515	11,565,713
Statements of Operations
Revenues/Investment Income	1,974,306	1,058,776	833,059
Expenses	1,969,329	1,184,462	484,593
Net Investment Income (Loss)	4,977	(125,686)	348,466
Net Realized and Unrealized Gain (Loss)	1,843,877	221,321	1,045,057
Net income available to Athene shareholders	1,848,854	95,635	1,393,523
Private Equity
Statements of Financial Condition
Investments	32,517,599	28,668,459
Assets	33,259,492	30,058,053
Liabilities	427,076	545,729
Equity	32,832,416	29,512,324
Statements of Operations
Revenues/Investment Income	675,305	738,738	1,045,157
Expenses	680,331	640,504	401,596
Net Investment Income (Loss)	(5,026)	98,234	643,561
Net Realized and Unrealized Gain (Loss)	3,672,268	(3,303,225)	5,831,659
Net income available to Athene shareholders	3,667,242	(3,204,991)	6,475,220
Real Assets
Statements of Financial Condition
Investments	12,248,343	9,712,205
Assets	13,039,865	10,251,322
Liabilities	5,281,751	3,451,002
Equity	7,758,114	6,800,320
Statements of Operations
Revenues/Investment Income	509,963	608,928	903,675
Expenses	362,454	320,187	190,783
Net Investment Income (Loss)	147,509	288,741	712,892
Net Realized and Unrealized Gain (Loss)	856,380	(48,559)	(102,240)
Net income available to Athene shareholders	1,003,889	240,182	610,652
Investment in Athene Holding
Statements of Financial Condition
Investments	107,952	89,340
Assets	146,875	125,505
Liabilities	132,734	117,229
Equity	14,141	8,276
Statements of Operations
Revenues/Investment Income	16,258	6,637	8,788
Expenses	13,956	5,462	7,324
Net Investment Income (Loss)	2,302	1,175	1,464
Net income available to Athene shareholders	$ 2,172	$ 1,053	$ 1,358

INVESTMENTS - Summary of Perfor

INVESTMENTS - Summary of Performance Allocations (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Performance allocations	$ 1,507,571	$ 912,182	$ 1,828,930
Credit
Schedule of Equity Method Investments [Line Items]
Performance allocations	418,517	241,896	193,294
Private Equity
Schedule of Equity Method Investments [Line Items]
Performance allocations	822,531	520,892	1,425,947
Real Assets
Schedule of Equity Method Investments [Line Items]
Performance allocations	$ 266,523	$ 149,394	$ 209,689

INVESTMENTS - Performance Alloc

INVESTMENTS - Performance Allocations Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Performance Allocation [Roll Forward]
Performance allocations beginning balance	$ 912,182	$ 1,828,930
Change in fair value of funds	1,112,405	(349,434)
Fund distributions to the Company	(517,016)	(567,314)
Performance allocations ending balance	1,507,571	912,182
Credit
Performance Allocation [Roll Forward]
Performance allocations beginning balance	241,896	193,294
Change in fair value of funds	265,402	104,706
Fund distributions to the Company	(88,781)	(56,104)
Performance allocations ending balance	418,517	241,896
Private Equity
Performance Allocation [Roll Forward]
Performance allocations beginning balance	520,892	1,425,947
Change in fair value of funds	726,700	(448,932)
Fund distributions to the Company	(425,061)	(456,123)
Performance allocations ending balance	822,531	520,892
Real Assets
Performance Allocation [Roll Forward]
Performance allocations beginning balance	149,394	209,689
Change in fair value of funds	120,303	(5,208)
Fund distributions to the Company	(3,174)	(55,087)
Performance allocations ending balance	266,523	$ 149,394
Athene Holding
Schedule of Equity Method Investments [Line Items]
Revenue from Related Parties	$ 169,900

PROFIT SHARING PAYABLE - Summar

PROFIT SHARING PAYABLE - Summary of Profit Sharing (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Profit Sharing Payable Summary [Line Items]
Total profit sharing payable	$ 758,669	$ 452,141	$ 752,276
Credit
Profit Sharing Payable Summary [Line Items]
Total profit sharing payable	314,125	178,093	183,109
Private Equity
Profit Sharing Payable Summary [Line Items]
Total profit sharing payable	329,817	205,617	485,242
Real Assets
Profit Sharing Payable Summary [Line Items]
Total profit sharing payable	$ 114,727	$ 68,431	$ 83,925

PROFIT SHARING PAYABLE - Rollfo

PROFIT SHARING PAYABLE - Rollforward Summary of Profit Sharing (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Dec. 31, 2019	Dec. 31, 2018
Profit Sharing Payable Rollforward [Roll Forward]
Profit sharing payable, beginning balance	$ 752,276	$ 452,141	$ 752,276
Profit sharing expense		578,642	(28,024)
Payments/other		(272,114)	(272,111)
Profit sharing payable, ending balance		758,669	452,141
Credit
Profit Sharing Payable Rollforward [Roll Forward]
Profit sharing payable, beginning balance	183,109	178,093	183,109
Profit sharing expense		210,188	60,009
Payments/other		(74,156)	(65,025)
Profit sharing payable, ending balance		314,125	178,093
Private Equity
Profit Sharing Payable Rollforward [Roll Forward]
Profit sharing payable, beginning balance	485,242	205,617	485,242
Profit sharing expense		316,534	(94,390)
Payments/other		(192,334)	(185,235)
Profit sharing payable, ending balance		329,817	205,617
Real Assets
Profit Sharing Payable Rollforward [Roll Forward]
Profit sharing payable, beginning balance	83,925	68,431	83,925
Profit sharing expense		51,920	6,357
Payments/other		(5,624)	(21,851)
Profit sharing payable, ending balance		114,727	$ 68,431
Athene Holding
Profit Sharing Payable Rollforward [Roll Forward]
Payments/other		$ (46,600)
Accounting Standards Update 2014-09
Profit Sharing Payable Rollforward [Roll Forward]
Payments/other	$ (10,600)

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of days trade is open with VIE	60 days
Investment in CLO	$ 43.6	$ 44.2

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of Net Gains from Investment Activities of Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net gains from investment activities	$ 51,039	$ 23,922	$ 7,960
Net gains (losses) from debt	(11,941)	16,875	6,416
Interest and other income	29,224	35,612	35,154
Interest and other expenses	(28,411)	(31,297)	(38,865)
Net gains from investment activities of consolidated variable interest entities	$ 39,911	$ 45,112	$ 10,665

VARIABLE INTEREST ENTITIES - Pr

VARIABLE INTEREST ENTITIES - Principal Provisions of Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal Outstanding	$ 2,672,388
Collateralized assets	2,931,223	$ 2,469,956
Consolidated Variable Interest Entities
Debt Instrument [Line Items]
Principal Outstanding	870,176	883,522
Debt, at fair value	850,147	855,461
Collateralized assets	1,300,186	1,290,891
Consolidated Variable Interest Entities | Senior Notes
Debt Instrument [Line Items]
Principal Outstanding	$ 757,628	$ 768,860
Weighted Average Interest Rate	1.56%	1.67%
Weighted Average Remaining Maturity in Years	10 years 2 months 12 days	11 years 2 months 12 days
Consolidated Variable Interest Entities | Subordinated Notes
Debt Instrument [Line Items]
Principal Outstanding	$ 93,572	$ 95,686
Weighted Average Remaining Maturity in Years	20 years 4 months 24 days	21 years 4 months 24 days
Consolidated Variable Interest Entities | Secured Borrowings
Debt Instrument [Line Items]
Principal Outstanding	$ 18,976	$ 18,976
Weighted Average Interest Rate	3.69%	3.42%
Weighted Average Remaining Maturity in Years	7 years 9 months 18 days	8 years 9 months 18 days

VARIABLE INTEREST ENTITIES - Va

VARIABLE INTEREST ENTITIES - Variable Interest Entities Which are Not Consolidated (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets:
Investments	$ 3,609,859	$ 2,722,612
Variable Interest Entity, Not Primary Beneficiary
Assets:
Cash	222,481	404,660
Investments	5,418,295	4,919,118
Receivables	137,165	126,873
Total Assets	5,777,941	5,450,651
Liabilities:
Debt and other payables	3,449,227	3,673,219
Total Liabilities	3,449,227	3,673,219
Apollo Exposure	$ 250,521	$ 244,894

FAIR VALUE MEASUREMENTS OF FI_3

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Valuation of Financial Assets and Liabilities by the Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments, at fair value:
Derivative assets	$ 249	$ 388
Total Assets	2,931,223	2,469,956
Liabilities
Derivative liabilities	93	681
Total Liabilities	962,754	930,629
Performance allocations	1,507,571	912,182	$ 1,828,930
Consolidated Variable Interest Entities
Investments, at fair value:
Investments, at fair value	1,213,169	1,175,677
Investments of VIEs, at fair value	1,212,325	1,173,414
Total Assets	1,300,186	1,290,891
Liabilities
Liabilities of VIEs, at fair value	850,147	855,461
U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities, at fair value	664,249	392,932
Liabilities
Cost	642,176	390,336
Investment in Athene Holding
Investments, at fair value:
Investments, at fair value	897,052	761,807
Liabilities
Cost	590,110	592,572
Other Investments
Investments, at fair value:
Investments, at fair value	156,504	139,152
Liabilities
Cost	135,686	124,379
Total investments, at fair value
Investments, at fair value:
Investments, at fair value	1,053,556	900,959
Liabilities
Cost	725,796	716,951
Contingent consideration obligation
Liabilities
Contingent consideration obligations	112,514	74,487
Level I
Investments, at fair value:
Derivative assets	0	0
Total Assets	1,561,301	1,154,739
Liabilities
Derivative liabilities	0	0
Total Liabilities	0	0
Level I | Consolidated Variable Interest Entities
Investments, at fair value:
Investments, at fair value	0	0
Investments of VIEs, at fair value	0	0
Investments of VIEs, valued using NAV	0	0
Liabilities
Liabilities of VIEs, at fair value	0	0
Level I | U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities, at fair value	664,249	392,932
Level I | Investment in Athene Holding
Investments, at fair value:
Investments, at fair value	897,052	761,807
Level I | Other Investments
Investments, at fair value:
Investments, at fair value	0	0
Level I | Total investments, at fair value
Investments, at fair value:
Investments, at fair value	897,052	761,807
Level I | Contingent consideration obligation
Liabilities
Contingent consideration obligations	0	0
Level II
Investments, at fair value:
Derivative assets	249	388
Total Assets	934,599	920,597
Liabilities
Derivative liabilities	93	681
Total Liabilities	850,240	856,142
Level II | Consolidated Variable Interest Entities
Investments, at fair value:
Investments, at fair value	891,256	877,427
Investments of VIEs, at fair value	891,256	877,427
Investments of VIEs, valued using NAV	0	0
Liabilities
Liabilities of VIEs, at fair value	850,147	855,461
Level II | U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities, at fair value	0	0
Level II | Investment in Athene Holding
Investments, at fair value:
Investments, at fair value	0	0
Level II | Other Investments
Investments, at fair value:
Investments, at fair value	43,094	42,782
Level II | Total investments, at fair value
Investments, at fair value:
Investments, at fair value	43,094	42,782
Level II | Contingent consideration obligation
Liabilities
Contingent consideration obligations	0	0
Level III
Investments, at fair value:
Derivative assets	0	0
Total Assets	434,479	392,357
Liabilities
Derivative liabilities	0	0
Total Liabilities	112,514	74,487
Level III | Consolidated Variable Interest Entities
Investments, at fair value:
Investments, at fair value	321,069	295,987
Investments of VIEs, at fair value	321,069	295,987
Investments of VIEs, valued using NAV	0	0
Liabilities
Liabilities of VIEs, at fair value	0	0
Level III | U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities, at fair value	0	0
Level III | Investment in Athene Holding
Investments, at fair value:
Investments, at fair value	0	0
Level III | Other Investments
Investments, at fair value:
Investments, at fair value	113,410	96,370
Liabilities
Performance allocations	25,800	17,000
Level III | Total investments, at fair value
Investments, at fair value:
Investments, at fair value	113,410	96,370
Level III | Contingent consideration obligation
Liabilities
Contingent consideration obligations	112,514	74,487
NAV | Consolidated Variable Interest Entities
Investments, at fair value:
Investments of VIEs, valued using NAV	$ 844	$ 2,263

FAIR VALUE MEASUREMENTS OF FI_4

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Changes in Fair Value in Financial Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 392,357	$ 168,049
Purchases	15,048	264,522
Sale of investments/distributions	(3,742)	(66,288)
Net realized gains (losses)	932	(1,190)
Changes in net unrealized gains	42,339	58,189
Cumulative translation adjustment	(8,027)	(17,378)
Transfer into Level III	1,693	23,465
Transfer out of Level III	(6,121)	(37,012)
Balance, End of Period	434,479	392,357
Gains (losses) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains	7,189	12,618
Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains	35,122	44,350
Investments of Consolidated VIEs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	295,987	132,348
Purchases	0	151,877
Sale of investments/distributions	0	(17,000)
Net realized gains (losses)	0	(1,084)
Changes in net unrealized gains	35,120	45,506
Cumulative translation adjustment	(5,922)	(16,787)
Transfer into Level III	0	18,783
Transfer out of Level III	(4,116)	(17,656)
Balance, End of Period	321,069	295,987
Investments of Consolidated VIEs | Gains (losses) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains	0	0
Investments of Consolidated VIEs | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains	35,122	44,350
Other Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	96,370	35,701
Purchases	15,048	112,645
Sale of investments/distributions	(3,742)	(49,288)
Net realized gains (losses)	932	(106)
Changes in net unrealized gains	7,219	12,683
Cumulative translation adjustment	(2,105)	(591)
Transfer into Level III	1,693	4,682
Transfer out of Level III	(2,005)	(19,356)
Balance, End of Period	113,410	96,370
Other Investments | Gains (losses) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains	7,189	12,618
Other Investments | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains	$ 0	$ 0

FAIR VALUE MEASUREMENTS OF FI_5

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Changes in Fair Value in Financial Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 74,487	$ 105,220
Payments		(19,567)
Changes in net unrealized (gains) losses		(11,166)
Balance, End of Period		74,487
Contingent Consideration Obligations
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	74,487	92,600
Payments	(5,055)	(6,947)
Changes in net unrealized (gains) losses	43,082	(11,166)
Balance, End of Period		74,487
Liabilities of Consolidated VIEs & Apollo Funds | Investments of Consolidated VIEs
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 0	12,620
Payments		(12,620)
Changes in net unrealized (gains) losses		0
Balance, End of Period		$ 0

FAIR VALUE MEASUREMENTS OF FI_6

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Quantitative Inputs and Assumptions used for Financial Assets and Liabilities Categories (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial Assets
Assets	$ 434,479	$ 392,357	$ 168,049
Financial Liabilities
Liabilities		74,487	105,220
Contingent consideration obligation
Financial Liabilities
Liabilities	112,514
Contingent consideration obligation | Discounted cash flow
Financial Liabilities
Liabilities	112,514
Investments of consolidated VIEs:
Financial Assets
Other investments	1,213,169	1,175,677
Assets	321,069	295,987	$ 132,348
Level III
Financial Assets
Assets	434,479	392,357
Financial Liabilities
Liabilities	112,514	74,487
Level III | Other investments | Third Party Pricing
Financial Assets
Other investments	5,350	6,901
Level III | Other investments | Discounted cash flow
Financial Assets
Other investments	108,060	89,469
Level III | Contingent consideration obligation | Discounted cash flow
Financial Liabilities
Liabilities		74,487
Level III | Investments of consolidated VIEs:
Financial Assets
Other investments	$ 321,069	295,987
Assets		295,987
Level III | Investments of consolidated VIEs: | Corporate loans/bonds/CLO notes | Third Party Pricing
Financial Assets
Assets		$ 4,116
Level III | Investments of consolidated VIEs: | Equity securities | Book value multiple
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.61	0.65
Level III | Investments of consolidated VIEs: | Equity securities | Book value multiple and Discounted cash flow
Financial Assets
Assets	$ 321,069	$ 291,871
Level III | Discount rate | Other investments | Minimum | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input	15.00%	15.00%
Level III | Discount rate | Other investments | Maximum | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input	16.00%	16.00%
Level III | Discount rate | Other investments | Weighted Average | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input	15.60%	15.50%
Level III | Discount rate | Contingent consideration obligation | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Contingent consideration obligation, measurement input	0.173	0.170
Level III | Discount rate | Contingent consideration obligation | Weighted Average | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Contingent consideration obligation, measurement input	0.173	0.170
Level III | Discount rate | Investments of consolidated VIEs: | Equity securities | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.131	0.152
Level III | Discount rate | Investments of consolidated VIEs: | Equity securities | Weighted Average | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.131	0.152

FAIR VALUE MEASUREMENTS OF FI_7

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Narrative (Details) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Investment in Athene Holding
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market price (in USD per share)	$ 47.03	$ 39.83

OTHER ASSETS - Schedule of Othe

OTHER ASSETS - Schedule of Other Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fixed assets	$ 138,359	$ 109,039
Less: Accumulated depreciation and amortization	(96,347)	(89,049)
Fixed assets, net	42,012	19,990
Deferred equity-based compensation	132,422	80,443
Prepaid expenses	55,189	49,648
Intangible assets, net	20,615	18,899	$ 18,842	$ 22,721
Tax receivables	48,106	10,464
Other	28,105	12,725
Total Other Assets	326,449	192,169
Other Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of grants	$ 112,400	$ 54,500

OTHER ASSETS - Narrative (Detai

OTHER ASSETS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Impairment of indefinite lived intangible assets		$ 0
Depreciation	$ 9,600,000	$ 8,500,000	$ 12,100,000

OTHER ASSETS - Schedule of Fini

OTHER ASSETS - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Intangible assets/management contracts	$ 262,169	$ 254,295
Accumulated amortization	(241,554)	(235,396)
Intangible assets, net	$ 20,615	$ 18,899	$ 18,842	$ 22,721

OTHER ASSETS - Changes in Intan

OTHER ASSETS - Changes in Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Indefinite-lived intangible assets	$ 1,000	$ 1,000
Intangible Asset [Roll Forward]
Balance, beginning of year	18,899	18,842	$ 22,721
Amortization expense	(6,159)	(5,629)	(6,428)
Acquisitions / additions	7,875	5,686	2,549
Balance, end of year	$ 20,615	$ 18,899	$ 18,842

OTHER ASSETS - Schedule of Amor

OTHER ASSETS - Schedule of Amortization (Details) $ in Thousands	Dec. 31, 2019USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
2020	$ 7,944
2021	6,491
2022	3,708
2023	788
2024	393
Thereafter	331
Total	$ 19,655

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Operating lease cost	$ 42,680
Operating lease cost		$ 37,144	$ 34,184

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Operating cash flows for operating leases	$ 30,626
Operating cash flows for operating leases		$ 35,654	$ 37,233

LEASES - Lease Payments by Matu

LEASES - Lease Payments by Maturity (Details) $ in Thousands	Dec. 31, 2019USD ($)
Operating Lease Payments
2020	$ 26,780
2021	26,793
2022	22,487
2023	20,685
2024	19,767
Thereafter	140,221
Total lease payments	256,733
Less imputed interest	(47,254)
Present value of lease payments	$ 209,479

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Millions	Dec. 31, 2019USD ($)
Leases [Abstract]
Lease not yet commenced, amount	$ 427.4
Lease not yet commenced, term	15 years

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details)	Dec. 31, 2019
Leases [Abstract]
Weighted average remaining lease term (in years)	12 years 3 months 18 days
Weighted average discount rate	3.30%

LEASES - Aggregate Minimum Futu

LEASES - Aggregate Minimum Future Payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 39,970
2020	25,923
2021	33,022
2022	36,243
2023	35,231
Thereafter	400,889
Total	$ 571,278

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Income tax (provision) benefit	$ 128,994,000	$ (86,021,000)	$ (325,945,000)
Effective tax rate	(9.20%)	81.70%	18.40%
Period of recognition for tax intangibles	15 years
Valuation allowance on deferred tax assets	$ 0
Unrecognized tax benefits	0
Unremitted foreign earnings	0
Net deferred tax benefit	239,400,000
Increase in deferred tax asset, effect on income tax benefit	150,900,000
Increase in tax receivable agreement liability, effect on other income	38,600,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	0
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	65,800,000
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Tax credit carryforward, amount	$ 10,700,000

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal income tax	$ 1,973	$ 0	$ 3,314
Foreign income tax	10,792	4,208	3,271
State and local income tax	3,408	1,633	6,364
Subtotal	16,173	5,841	12,949
Deferred:
Federal income tax	(120,457)	33,936	290,213
Foreign income tax	128	0	0
State and local income tax	(24,838)	46,244	22,783
Subtotal	(145,167)	80,180	312,996
Total Income Tax Provision (Benefit)	(128,994)	86,021	325,945
Pretax income	$ 44,700	$ 41,800	$ 24,000

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Tax Rates (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
U.S. Federal Statutory Tax Rate	21.00%	21.00%	35.00%
Income Passed Through to Non-Controlling Interests	(10.70%)	(24.20%)	(16.30%)
(Income) Loss Passed Through to Class A Shareholders	(2.70%)	53.80%	(10.40%)
State and Local Income Taxes (net of Federal Benefit)	1.10%	29.80%	1.20%
Impact of Federal Tax Reform	0.00%	0.00%	9.70%
Impact of Corporate Conversion	(16.70%)	0.00%	0.00%
Other	(1.20%)	1.30%	(0.80%)
Effective Income Tax Rate	(9.20%)	81.70%	18.40%

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred Tax Assets:
Depreciation and amortization	$ 270,746	$ 275,793
Net operating loss carryforwards	4,452	16,039
Deferred revenue	5,186	6,469
Equity-based compensation	9,528	3,849
Foreign tax credit	10,725	15,563
Basis difference in investments	168,573	0
Other	11,042	7,174
Total Deferred Tax Assets	480,252	324,887
Deferred Tax Liabilities:
Unrealized gains from investments	6,299	18,108
Other	788	685
Total Deferred Tax Liabilities	7,087	18,793
Total Deferred Tax Assets, Net	$ 473,165	$ 306,094

INCOME TAXES - Impact of Exchan

INCOME TAXES - Impact of Exchange of AOG Units (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Increase in Deferred Tax Asset	$ 171,814	$ 45,017	$ 56,908
Increase in Tax Receivable Agreement Liability	41,954	37,891	44,972
Increase to Additional Paid In Capital	$ 17,553	$ 7,126	$ 11,936

DEBT - Summary of Debt (Details

DEBT - Summary of Debt (Details) € in Thousands, $ in Thousands	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Outstanding Balance	$ 2,650,600		$ 1,360,448
Fair Value	2,912,762		1,362,916
Unamortized debt issuance cost	26,413		9,727
Senior Notes | 2024 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	497,164		496,512
Fair Value	$ 529,333		$ 498,736
Annualized Weighted Average Interest Rate	4.00%	4.00%	4.00%
Unamortized debt issuance cost	$ 2,394		$ 2,946
Senior Notes | 2026 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	496,704		496,191
Fair Value	$ 540,713		$ 502,107
Annualized Weighted Average Interest Rate	4.40%	4.40%	4.40%
Unamortized debt issuance cost	$ 3,014		$ 3,483
Senior Notes | 2029 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	674,727		0
Fair Value	$ 761,780		$ 0
Annualized Weighted Average Interest Rate	4.87%	4.87%	0.00%
Unamortized debt issuance cost	$ 5,928		$ 0
Senior Notes | 2048 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	296,510		296,386
Fair Value	$ 350,331		$ 290,714
Annualized Weighted Average Interest Rate	5.00%	5.00%	5.00%
Unamortized debt issuance cost	$ 3,185		$ 3,298
Senior Secured Notes | 2039 Senior Secured Guaranteed Notes
Debt Instrument [Line Items]
Outstanding Balance	316,100		0
Fair Value	$ 354,093		$ 0
Annualized Weighted Average Interest Rate	4.77%	4.77%	0.00%
Unamortized debt issuance cost	$ 8,900		$ 0
Subordinated Notes | 2050 Subordinated Notes
Debt Instrument [Line Items]
Outstanding Balance	297,008		0
Fair Value	$ 304,125		$ 0
Annualized Weighted Average Interest Rate	4.95%	4.95%	0.00%
Unamortized debt issuance cost	$ 2,992		$ 0
AMI Term Facility | Secured Borrowing
Debt Instrument [Line Items]
Outstanding Balance	17,921		0
Fair Value	$ 17,921		$ 0
Annualized Weighted Average Interest Rate	1.99%	1.99%	0.00%
Loan Amount | €		€ 15,984
AMI Term Facility | 2014 AMI Term Facility I
Debt Instrument [Line Items]
Outstanding Balance	$ 0		$ 15,633
Fair Value	$ 0		$ 15,633
Annualized Weighted Average Interest Rate	0.00%	0.00%	2.00%
AMI Term Facility | 2014 AMI Term Facility II
Debt Instrument [Line Items]
Outstanding Balance	$ 17,266		$ 17,657
Fair Value	$ 17,266		$ 17,657
Annualized Weighted Average Interest Rate	1.75%	1.75%	1.75%
Loan Amount | €		€ 15,400
AMI Term Facility | 2016 AMI Term Facility I
Debt Instrument [Line Items]
Outstanding Balance	$ 18,915		$ 19,371
Fair Value	$ 18,915		$ 19,371
Annualized Weighted Average Interest Rate	1.30%	1.30%	1.32%
Loan Amount | €		€ 16,870
AMI Term Facility | 2016 AMI Term Facility II
Debt Instrument [Line Items]
Outstanding Balance	$ 18,285		$ 18,698
Fair Value	$ 18,285		$ 18,698
Annualized Weighted Average Interest Rate	1.40%	1.40%	1.70%
Loan Amount | €		€ 16,308

DEBT - Narrative (Details)

DEBT - Narrative (Details)

Jul. 11, 2018USD ($)

Mar. 11, 2016

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Dec. 17, 2019USD ($)

Jun. 11, 2019USD ($)

Jun. 10, 2019USD ($)

Feb. 07, 2019USD ($)

Mar. 15, 2018USD ($)

May 27, 2016USD ($)

May 30, 2014USD ($)

Dec. 18, 2013USD ($)

Debt Instrument [Line Items]

Debt

$ 2,650,600,000

$ 1,360,448,000

Principal payments on debt

$ 15,317,000

300,000,000

$ 0

Revolving Credit Facility | 2018 AMH Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 750,000,000

Commitment fee (as a percent)

0.09%

Incremental facilities

$ 250,000,000

Leverage ratio maximum

4

Revolving Credit Facility | 2018 AMH Credit Facility | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

1.00%

Term Loan | 2013 AMH Credit Facilities

Debt Instrument [Line Items]

Debt

$ 750,000,000

Term Loan Held by Affiliate | 2013 AMH Credit Facilities

Debt Instrument [Line Items]

Debt

271,700,000

Revolving Credit Facility | 2013 AMH Credit Facilities

Debt Instrument [Line Items]

Debt

$ 500,000,000

Extension period of debt

2 years

Senior Notes | 2024 Senior Notes

Debt Instrument [Line Items]

Debt

$ 497,164,000

496,512,000

Principal payments on debt

250,000,000

Debt, face amount

$ 500,000,000

Debt, interest rate

4.00%

Debt issuance price (as a percent)

99.722%

Senior Notes | 2026 Senior Notes

Debt Instrument [Line Items]

Debt

496,704,000

496,191,000

Principal payments on debt

200,000,000

Debt, face amount

$ 500,000,000

Debt, interest rate

4.40%

Debt issuance price (as a percent)

99.912%

Senior Notes | 2029 Senior Notes

Debt Instrument [Line Items]

Debt

674,727,000

0

Debt, face amount

675,000,000

$ 125,000,000

$ 550,000,000

Debt, interest rate

4.872%

Debt issuance price (as a percent)

99.999%

Senior Notes | 2048 Senior Notes

Debt Instrument [Line Items]

Debt

296,510,000

296,386,000

Principal payments on debt

300,000,000

Debt, face amount

$ 300,000,000

Debt, interest rate

5.00%

Debt issuance price (as a percent)

99.892%

Senior Secured Notes | 2039 Senior Secured Guaranteed Notes

Debt Instrument [Line Items]

Debt

316,100,000

0

Debt, face amount

$ 325,000,000

Debt, interest rate

4.77%

Additional interest to be accrued (as a percent)

5.00%

Subordinated Notes | 2050 Subordinated Notes

Debt Instrument [Line Items]

Debt

$ 297,008,000

$ 0

Debt, face amount

$ 300,000,000

Debt, interest rate

4.95%

Debt issuance price (as a percent)

100.00%

DEBT - Interest Expense (Detail

DEBT - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total Interest Expense	$ 98,369	$ 59,374	$ 52,873
Line of Credit | 2013 AMH Credit Facilities
Debt Instrument [Line Items]
Total Interest Expense	0	2,387	8,328
Line of Credit | AMI Term Facilities/Secured Borrowing
Debt Instrument [Line Items]
Total Interest Expense	1,292	1,324	1,380
Revolving Credit Facility | 2018 AMH Credit Facility
Debt Instrument [Line Items]
Total Interest Expense	1,277	489	0
Senior Notes | 2024 Senior Notes
Debt Instrument [Line Items]
Total Interest Expense	20,652	20,652	20,652
Senior Notes | 2026 Senior Notes
Debt Instrument [Line Items]
Total Interest Expense	22,513	22,513	22,513
Senior Notes | 2029 Senior Notes
Debt Instrument [Line Items]
Total Interest Expense	27,743	0	0
Senior Notes | 2048 Senior Notes
Debt Instrument [Line Items]
Total Interest Expense	15,124	12,009	0
Subordinated Notes | 2050 Subordinated Notes
Debt Instrument [Line Items]
Total Interest Expense	586	0	0
Senior Secured Notes | 2039 Senior Secured Guaranteed Notes
Debt Instrument [Line Items]
Total Interest Expense	$ 9,182	$ 0	$ 0

DEBT - Debt Maturities (Details

DEBT - Debt Maturities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
2020	$ 0
2021	0
2022	17,267
2023	18,285
2024	500,000
Thereafter	2,136,836
Total	2,672,388
Senior Notes | 2024 Senior Notes
Debt Instrument [Line Items]
2020	0
2021	0
2022	0
2023	0
2024	500,000
Thereafter	0
Total	500,000
Senior Notes | 2026 Senior Notes
Debt Instrument [Line Items]
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	500,000
Total	500,000
Senior Notes | 2029 Senior Notes
Debt Instrument [Line Items]
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	675,000
Total	675,000
Senior Notes | 2048 Senior Notes
Debt Instrument [Line Items]
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	300,000
Total	300,000
Subordinated Notes | 2050 Subordinated Notes
Debt Instrument [Line Items]
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	300,000
Total	300,000
Senior Secured Notes | 2039 Senior Secured Guaranteed Notes
Debt Instrument [Line Items]
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	325,000
Total	325,000
AMI Term Facility | Secured Borrowing
Debt Instrument [Line Items]
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	17,921
Total	17,921
AMI Term Facility | 2014 AMI Term Facility II
Debt Instrument [Line Items]
2020	0
2021	0
2022	17,267
2023	0
2024	0
Thereafter	0
Total	17,267
AMI Term Facility | 2016 AMI Term Facility I
Debt Instrument [Line Items]
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	18,915
Total	18,915
AMI Term Facility | 2016 AMI Term Facility II
Debt Instrument [Line Items]
2020	0
2021	0
2022	0
2023	18,285
2024	0
Thereafter	0
Total	$ 18,285

NET INCOME PER SHARE OF CLASS_3

NET INCOME PER SHARE OF CLASS A COMMON STOCK - Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 29, 2019	Sep. 26, 2019	Aug. 15, 2019	Jul. 31, 2019	May 02, 2019	Apr. 12, 2019	Jan. 31, 2019	Nov. 01, 2018	Aug. 02, 2018	May 03, 2018	Apr. 12, 2018	Feb. 01, 2018	Nov. 01, 2017	Aug. 02, 2017	Apr. 28, 2017	Apr. 13, 2017	Feb. 03, 2017	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net income (loss) attributable to Apollo Global Management, Inc. Class A Common Stockholders																		$ 156,879	$ 354,106	$ 155,659	$ 139,893	$ (196,408)	$ 162,357	$ 54,658	$ (62,645)
Dividends	$ (201,600)	$ (17,800)	$ (4,100)	$ (201,400)	$ (185,200)	$ (45,400)	$ (226,600)	$ (185,600)	$ (173,600)	$ (153,600)	$ (50,500)	$ (266,700)	$ (157,200)	$ (209,400)	$ (197,400)	$ (20,500)	$ (181,200)									$ (882,100)	$ (830,000)	$ (765,700)
Earnings allocable to participating securities																										(17,343)	0	(8,828)
Net Income per share of Class A Common Stock: Basic
Net Income (Loss) per share of Class A Common Stock: Basic (in USD per share)																		$ 0.68	$ 1.64	$ 0.75	$ 0.67	$ (1)	$ 0.77	$ 0.25	$ (0.34)
Net Income per share of Class A Common Stock: Diluted
Net Income (Loss) per share of Class A Common Stock: Diluted (in USD per share)																		$ 0.68	$ 1.63	$ 0.75	$ 0.67	$ (1)	$ 0.77	$ 0.25	$ (0.34)
RSUs
Numerator:
Dividends																										(17,888)	(18,119)	(11,822)
Dilution effect on distributable income attributable to unvested RSUs																										$ 3,173	$ 0	$ 2,706
Denominator:
Dilution effect of unvested RSUs (in shares)																										1,676,111	0	1,649,950
Class A Common Stock
Numerator:
Net income (loss) attributable to Apollo Global Management, Inc. Class A Common Stockholders																										$ 806,537	$ (42,038)	$ 615,566
Dividends	$ (111,500)	$ 0	$ 0	$ (100,400)	$ (92,200)	$ 0	$ (113,300)	$ (92,600)	$ (86,500)	$ (76,600)	$ 0	$ (133,000)	$ (75,600)	$ (100,600)	$ (94,500)	$ 0	$ (84,200)									(417,386)	(388,744)	(354,878)
Undistributed income (loss) attributable to Class A Common Stockholders: Basic																										353,920	(448,901)	240,038
Undistributed income (loss) attributable to Class A Common Stockholders: Diluted																										$ 357,093	$ (448,901)	$ 242,744
Denominator:
Weighted average number of shares of Class A Common Stock outstanding: Basic (in shares)																										207,072,413	199,946,632	190,931,743
Weighted average number of shares of Class A Common Stock outstanding: Diluted (in shares)																										208,748,524	199,946,632	192,581,693
Net Income per share of Class A Common Stock: Basic
Distributed Income (in USD per share)																										$ 2.02	$ 1.93	$ 1.85
Undistributed Income (Loss) (in USD per share)																										1.70	(2.23)	1.27
Net Income (Loss) per share of Class A Common Stock: Basic (in USD per share)																										3.72	(0.30)	3.12
Net Income per share of Class A Common Stock: Diluted
Distributed Income (in USD per share)																										2.01	1.93	1.84
Undistributed Income (Loss) (in USD per share)																										1.70	(2.23)	1.26
Net Income (Loss) per share of Class A Common Stock: Diluted (in USD per share)																										$ 3.71	$ (0.30)	$ 3.10

NET INCOME PER SHARE OF CLASS_4

NET INCOME PER SHARE OF CLASS A COMMON STOCK - Narrative (Details)	12 Months Ended
	Dec. 31, 2019USD ($)votegrantshares	Dec. 31, 2018	Dec. 31, 2017
Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Conversion ratio of AOG units (in shares)	1
Shares outstanding (in shares)	222,994,407
Class B Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Conversion ratio of AOG units (in shares)	1
Shares outstanding (in shares)	1
Number of votes | vote	1
Class B common stock net income (loss) | $	$ 0
Class B common stock distribution or liquidation rights (in shares)	0
Class B voting power, percent of voting rights	44.70%	52.40%	53.90%
RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Number of types of grants | grant	3
Vesting period	3 years
RSUs | Plan Grants | Minimum
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Vesting period	1 year
RSUs | Plan Grants | Maximum
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Vesting period	6 years
RSUs | Bonus Grants
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Vesting period	3 years
RSUs | Performance Grants | Minimum
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Vesting period	3 years
RSUs | Performance Grants | Maximum
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Vesting period	5 years

NET INCOME PER SHARE OF CLASS_5

NET INCOME PER SHARE OF CLASS A COMMON STOCK - Weighted Average Shares Issued (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Weighted average vested/unvested RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average vested RSUs	430,748	384,592	454,929
Weighted average unvested units		8,850,291
Weighted average unexercised options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average unexercised options	152,084	204,167	213,545
Weighted average AOG Units outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average unvested units	195,124,877	203,019,177	211,360,975
Weighted average unvested restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average unvested units	959,069	872,252	300,921

EQUITY-BASED COMPENSATION - Wei

EQUITY-BASED COMPENSATION - Weighted Average Discounts (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Plan Grants
Class of Stock [Line Items]
Discount for the lack of distributions until vested	18.70%	12.00%	11.80%
Marketability discount for transfer restrictions	4.90%	4.70%	3.60%
Bonus Grants
Class of Stock [Line Items]
Marketability discount for transfer restrictions	4.10%	2.30%	2.30%
Performance Grants
Class of Stock [Line Items]
Discount for the lack of distributions until vested	14.00%	12.80%
Marketability discount for transfer restrictions	5.90%	5.60%

EQUITY-BASED COMPENSATION - RSU

EQUITY-BASED COMPENSATION - RSUs, Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation		$ 189,648,000	$ 173,228,000	$ 91,450,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Granted (in shares)		4,650,408
Fair value of grants		$ 121,400,000	256,100,000	33,200,000
Equity-based compensation		$ 146,096,000	$ 146,708,000	68,225,000
RSUs | Plan Grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			500,000
Fair value of grants			$ 10,500,000
RSUs | Plan Grants | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
RSUs | Plan Grants | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		6 years
RSUs | Plan Grants | Vesting Period One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
RSUs | Bonus Grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
RSUs | Bonus Grants | Vesting Period One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
RSUs | Performance Grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		500,000
Equity-based compensation		$ 71,438,000	$ 75,188,000	$ 0
RSUs | Performance Grants | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
RSUs | Performance Grants | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		5 years
RSUs | Performance Grants | Certain Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		1,700,000
Fair value of grants		$ 45,200,000
Performance RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 0	$ 0

EQUITY-BASED COMPENSATION - R_2

EQUITY-BASED COMPENSATION - RSUs, Equity-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 189,648	$ 173,228	$ 91,450
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Actual forfeiture rate	2.10%	7.80%	9.80%
Equity-based compensation	$ 146,096	$ 146,708	$ 68,225
RSUs | Performance Grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 71,438	$ 75,188	$ 0

EQUITY-BASED COMPENSATION - R_3

EQUITY-BASED COMPENSATION - RSUs Activity (Details) - RSUs	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Unvested
Beginning balance (in shares)	9,839,968
Granted (in shares)	4,650,408
Forfeited (in shares)	(282,419)
Vested (in shares)	(4,423,264)
Ending balance (in shares)	9,784,693
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share) | $ / shares	$ 26.52
Granted (in USD per share) | $ / shares	26.11
Forfeited (in USD per share) | $ / shares	25.88
Vested (in USD per share) | $ / shares	26.43
Issued (in USD per share) | $ / shares	23.87
Ending balance (in USD per share) | $ / shares	$ 26.38
Total Number of RSUs Outstanding
Beginning balance (in shares)	12,220,751
Granted (in shares)	4,650,408
Forfeited (in shares)	(300,943)
Vested (in shares)	4,423,264
Issued (in shares)	(4,435,905)
Ending balance (in shares)	12,134,311
Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years 2 months 12 days
Vested
Unvested
Vested (in shares)	(4,423,264)
Total Number of RSUs Outstanding
Beginning balance (in shares)	2,380,783
Forfeited (in shares)	(18,524)
Vested (in shares)	4,423,264
Issued (in shares)	(4,435,905)
Ending balance (in shares)	2,349,618

EQUITY-BASED COMPENSATION - Res

EQUITY-BASED COMPENSATION - Restricted Share Awards, Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of grants	$ 11.1	$ 30.2	$ 13.9

EQUITY-BASED COMPENSATION - R_4

EQUITY-BASED COMPENSATION - Restricted Share Awards Equity-based Compensation Expense and Actual Forfeiture Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 189,648	$ 173,228	$ 91,450
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Actual forfeiture rate	0.80%	2.90%	0.80%
Equity-based compensation	$ 17,095	$ 13,515	$ 5,064

EQUITY-BASED COMPENSATION - R_5

EQUITY-BASED COMPENSATION - Restricted Share Awards Activity (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year 8 months 12 days
Unvested
Beginning balance (in shares)	1,088,983
Granted (in shares)	303,458
Forfeited (in shares)	(10,550)	(41,674)	(4,737)
Vested (in shares)	(491,433)
Ending balance (in shares)	890,458	1,088,983
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share)	$ 30.96
Granted (in USD per share)	36.66
Forfeited (in USD per share)	33.80
Issued (in USD per share)	30.67
Vested (in USD per share)	30.67
Ending balance (in USD per share)	$ 33.02	$ 30.96
Total Number of RSUs Outstanding
Beginning balance (in shares)	1,088,983
Granted (in shares)	303,458
Forfeited (in shares)	(10,550)
Issued (in shares)	(491,433)
Vested (in shares)	491,433
Ending balance (in shares)	890,458	1,088,983
Vested
Unvested
Vested (in shares)	(491,433)
Total Number of RSUs Outstanding
Beginning balance (in shares)	0
Issued (in shares)	(491,433)
Vested (in shares)	491,433
Ending balance (in shares)	0	0

EQUITY-BASED COMPENSATION -ARI

EQUITY-BASED COMPENSATION -ARI and AINV, RSUs, Management Fees, Equity-based Compensation Expense and Actual Forfeiture Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 189,648	$ 173,228	$ 91,450
ARI Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years 3 months 18 days
ARI | ARI Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Management fees	$ 16,697	11,952	11,120
Equity-based compensation	$ 16,697	$ 11,952	$ 11,120
Actual forfeiture rate	1.20%	2.60%	2.50%

EQUITY-BASED COMPENSATION - ARI

EQUITY-BASED COMPENSATION - ARI Awards Activity (Details) - ARI Awards	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years 3 months 18 days
Unvested
Beginning balance (in shares)	1,414,614
Granted (in shares)	1,281,045
Forfeited (in shares)	(32,204)
Vested (in shares)	(510,922)
Ending balance (in shares)	2,152,533
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share) | $ / shares	$ 16.91
Granted (in USD per share) | $ / shares	18.54
Forfeited (in USD per share) | $ / shares	18.33
Delivered (in USD per share) | $ / shares	16.77
Vested (in USD per share) | $ / shares	18.11
Ending balance (in USD per share) | $ / shares	$ 17.57
Total Number of RSUs Outstanding
Beginning balance (in shares)	2,582,365
Granted (in shares)	1,281,045
Forfeited (in shares)	(32,204)
Delivered (in shares)	(811,163)
Vested (in shares)	510,922
Ending balance (in shares)	3,020,043
Vested
Unvested
Vested (in shares)	(510,922)
Total Number of RSUs Outstanding
Beginning balance (in shares)	1,167,751
Delivered (in shares)	(811,163)
Vested (in shares)	510,922
Ending balance (in shares)	867,510

EQUITY-BASED COMPENSATION - AIN

EQUITY-BASED COMPENSATION - AINV Awards Activity (Details) - AINV Awards	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year 7 months 6 days
Unvested
Beginning balance (in shares)	65,002
Granted (in shares)	68,647
Forfeited (in shares)	0
Vested (in shares)	(53,274)
Ending balance (in shares)	80,375
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share) | $ / shares	$ 10.89
Granted (in USD per share) | $ / shares	11.09
Forfeited (in USD per share) | $ / shares	0
Delivered (in USD per share) | $ / shares	15.46
Vested (in USD per share) | $ / shares	16.05
Ending balance (in USD per share) | $ / shares	$ 15.89
Total Number of RSUs Outstanding
Beginning balance (in shares)	93,988
Granted (in shares)	68,647
Forfeited (in shares)	0
Delivered (in shares)	(30,390)
Vested (in shares)	53,274
Ending balance (in shares)	132,245
Vested
Unvested
Vested (in shares)	(53,274)
Total Number of RSUs Outstanding
Beginning balance (in shares)	28,986
Delivered (in shares)	(30,390)
Vested (in shares)	53,274
Ending balance (in shares)	51,870

EQUITY-BASED COMPENSATION - Ath

EQUITY-BASED COMPENSATION - Athene Holding, Narrative (Details) - Restricted Stock	12 Months Ended
	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year 8 months 12 days
Athene Holding | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Athene Holding | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years

EQUITY-BASED COMPENSATION - AHL

EQUITY-BASED COMPENSATION - AHL Awards Management Fees, Equity-based Compensation Expense and Actual Forfeiture Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 189,648	$ 173,228	$ 91,450
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 17,095	$ 13,515	$ 5,064
Actual forfeiture rate	0.80%	2.90%	0.80%
Athene Holding | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Management fees	$ 1,155	$ (2,743)	$ 4,058
Equity-based compensation	$ 3,576	$ (2,136)	$ 6,913
Actual forfeiture rate	0.00%	3.60%	0.10%

EQUITY-BASED COMPENSATION - A_2

EQUITY-BASED COMPENSATION - AHL Awards Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Stock
Unvested
Beginning balance (in shares)	1,088,983
Granted (in shares)	303,458
Vested (in shares)	(491,433)
Forfeited (in shares)	(10,550)	(41,674)	(4,737)
Ending balance (in shares)	890,458	1,088,983
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share)	$ 30.96
Granted (in USD per share)	36.66
Vested (in USD per share)	30.67
Forfeited (in USD per share)	33.80
Delivered (in USD per share)	30.67
Ending balance (in USD per share)	$ 33.02	$ 30.96
Total Number of RSUs Outstanding
Beginning balance (in shares)	1,088,983
Granted (in shares)	303,458
Vested (in shares)	(491,433)
Forfeited (in shares)	(10,550)
Delivered (in shares)	(491,433)
Ending balance (in shares)	890,458	1,088,983
Vesting period	1 year 8 months 12 days
Restricted Stock | Vested
Unvested
Vested (in shares)	(491,433)
Total Number of RSUs Outstanding
Beginning balance (in shares)	0
Vested (in shares)	(491,433)
Delivered (in shares)	(491,433)
Ending balance (in shares)	0	0
AHL Awards
Total Number of RSUs Outstanding
Number of shares expected to vest (in shares)	33,443
Vesting period	1 year 2 months 12 days
AHL Awards | Vesting if performance metrics are achieved
Total Number of RSUs Outstanding
Number of shares expected to vest (in shares)	7,750
Athene Holding | Restricted Stock
Unvested
Beginning balance (in shares)	143,399
Granted (in shares)	7,460
Vested (in shares)	(109,666)
Forfeited (in shares)	0
Ending balance (in shares)	41,193	143,399
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share)	$ 21.75
Granted (in USD per share)	37.50
Vested (in USD per share)	19.66
Forfeited (in USD per share)	0
Delivered (in USD per share)	17.38
Ending balance (in USD per share)	$ 30.08	$ 21.75
Total Number of RSUs Outstanding
Beginning balance (in shares)	749,750
Granted (in shares)	7,460
Vested (in shares)	(109,666)
Forfeited (in shares)	0
Delivered (in shares)	(124,274)
Ending balance (in shares)	632,936	749,750
Athene Holding | Restricted Stock | Vested
Unvested
Vested (in shares)	(109,666)
Total Number of RSUs Outstanding
Beginning balance (in shares)	606,351
Vested (in shares)	(109,666)
Delivered (in shares)	(124,274)
Ending balance (in shares)	591,743	606,351

EQUITY-BASED COMPENSATION - Rec

EQUITY-BASED COMPENSATION - Reconciliation of Equity-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 189,648	$ 173,228	$ 91,450
Non-Controlling Interests in Apollo Operating Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	12,355	6,843	9,320
Less other equity-based compensation awards	(12,355)	(6,843)	(9,320)
Capital increase related to equity-based compensation	0	0	0
Allocated to Apollo Global Management, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	177,293	166,385	82,130
Less other equity-based compensation awards	(30,575)	(18,848)	(9,956)
Capital increase related to equity-based compensation	146,718	147,537	72,174
RSUs, share options and restricted share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	161,995	159,575	73,352
RSUs, share options and restricted share awards | Non-Controlling Interests in Apollo Operating Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 0	$ 0	$ 0
Non-Controlling Interest % in Apollo Operating Group	0.00%	0.00%	0.00%
RSUs, share options and restricted share awards | Allocated to Apollo Global Management, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 161,995	$ 159,575	$ 73,352
AHL Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	3,576	(2,136)	6,913
AHL Awards | Non-Controlling Interests in Apollo Operating Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 1,597	$ (1,070)	$ 3,560
Non-Controlling Interest % in Apollo Operating Group	44.70%	50.10%	51.50%
AHL Awards | Allocated to Apollo Global Management, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 1,979	$ (1,066)	$ 3,353
Other equity-based compensation awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	24,077	15,789	11,185
Other equity-based compensation awards | Non-Controlling Interests in Apollo Operating Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 10,758	$ 7,913	$ 5,760
Non-Controlling Interest % in Apollo Operating Group	44.70%	50.10%	51.50%
Other equity-based compensation awards | Allocated to Apollo Global Management, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 13,319	$ 7,876	$ 5,425

EQUITY - Common Stock, Narrativ

EQUITY - Common Stock, Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Feb. 29, 2016
Class of Stock [Line Items]
Authorized common stock for repurchase (up to)	$ 500,000,000				$ 250,000,000
Increase in authorized repurchased amount	$ 250,000,000
Repurchases and canceled amount		$ (110,726,000)	$ (90,908,000)	$ (6,903,000)
Class A Common Stock
Class of Stock [Line Items]
Conversion of stock, shares issued		1
Common stock, shares issued		222,994,407
Common stock, shares outstanding		222,994,407
Authorized common stock for repurchase (up to)					150,000,000
Authorized common stock to be repurchased to satisfy obligations (up to)					$ 100,000,000
Repurchase and canceled (in shares)		3,453,901	2,701,876	233,248
Repurchases and canceled amount		$ (102,400,000)	$ (55,400,000)	$ (6,900,000)
Class B Common Stock
Class of Stock [Line Items]
Conversion of stock, shares issued		1
Common stock, shares issued		1
Common stock, shares outstanding		1
Class C Common Stock
Class of Stock [Line Items]
Common stock, shares issued		1
Common stock, shares outstanding		1
Class C Common Stock | Former Manager
Class of Stock [Line Items]
Common stock, shares issued		1
Common stock, shares outstanding		1

EQUITY - Class A Common Stock A

EQUITY - Class A Common Stock Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Issuance of shares of Class A Common Stock for equity-based awards (in shares)	2,799,810	2,346,580	2,323,205
Cash paid for tax liabilities	$ 56.6	$ 43.7	$ 31.7
Shares of Class A Common Stock issued in settlement of vested RSUs and share options exercised
Class of Stock [Line Items]
Issuance of shares of Class A Common Stock for equity-based awards (in shares)	4,640,072	3,866,209	3,565,098
Gross value of shares issued	$ 148.2	$ 129	$ 85.1
Reduction of shares of Class A Common Stock issued
Class of Stock [Line Items]
Issuance of shares of Class A Common Stock for equity-based awards (in shares)	(1,854,313)	(1,311,108)	(1,318,632)
Vesting period	3 years
Restricted shares forfeited	(282,419)
Shares of Class A Common Stock purchased related to share issuances and forfeitures
Class of Stock [Line Items]
Issuance of shares of Class A Common Stock for equity-based awards (in shares)	14,051	(208,521)	76,739
Vesting period	1 year 8 months 12 days
Restricted shares forfeited	(10,550)	(41,674)	(4,737)
Class A Common Stock | Reduction of shares of Class A Common Stock issued
Class of Stock [Line Items]
Restricted shares issued	102,089	85,371	0
Class A Common Stock | Shares of Class A Common Stock purchased related to share issuances and forfeitures
Class of Stock [Line Items]
Restricted shares issued	289,714	927,020	495,326
Common stock shares repurchased	(265,113)	(1,093,867)	(413,850)

EQUITY - Preferred Stock Issuan

EQUITY - Preferred Stock Issuance, Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 19, 2018	Mar. 07, 2017	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Sep. 05, 2019
Class of Stock [Line Items]
Issuance of preferred shares, net of issuance costs	$ 289,800	$ 264,400		$ 0	$ 289,815	$ 264,398
Dividends declared per share (in USD per share)				$ 2.02	$ 1.93
Series A Preferred Share
Class of Stock [Line Items]
Preferred stock, shares issued		11,000,000			11,000,000
Dividend rate per annum		6.375%
Issuance of preferred shares, net of issuance costs		$ 275,000
Preferred stock, shares outstanding					11,000,000
Series B Preferred Share
Class of Stock [Line Items]
Preferred stock, shares issued	12,000,000				12,000,000
Dividend rate per annum	6.375%
Issuance of preferred shares, net of issuance costs	$ 300,000
Preferred stock, shares outstanding					12,000,000
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued			11,000,000	11,000,000
Preferred stock, shares outstanding			11,000,000	11,000,000
Dividends declared per share (in USD per share)			$ 0.398438
Series A Preferred Stock | AGM LLC
Class of Stock [Line Items]
Preferred stock, shares issued							1
Preferred stock, shares outstanding			1	1
Preferred stock, liquidation preference (in USD per share)							$ 25
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued			12,000,000	12,000,000
Preferred stock, shares outstanding			12,000,000	12,000,000
Dividends declared per share (in USD per share)				$ 0.398438
Series B Preferred Stock | Equity, Redemption, Period One
Class of Stock [Line Items]
Redemption price (in USD per share)			$ 25.50	$ 25.50
Required days notice				30 days
Number of days within occurrence				60 days
Series B Preferred Stock | AGM LLC
Class of Stock [Line Items]
Preferred stock, shares issued							1
Preferred stock, shares outstanding			1	1
Preferred stock, liquidation preference (in USD per share)							$ 25
Preferred Stock
Class of Stock [Line Items]
Increase to distribution rate (as a percent)				5.00%
Preferred Stock | Equity, Redemption, Period Two
Class of Stock [Line Items]
Redemption price (in USD per share)			$ 25	$ 25
Preferred Stock | Equity, Redemption, Period One
Class of Stock [Line Items]
Redemption price (in USD per share)			$ 25.25	$ 25.25
Required days notice				30 days
Number of days within occurrence				60 days

EQUITY - Schedule of Dividends

EQUITY - Schedule of Dividends and Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 29, 2019	Sep. 26, 2019	Aug. 15, 2019	Jul. 31, 2019	May 02, 2019	Apr. 12, 2019	Jan. 31, 2019	Nov. 01, 2018	Aug. 02, 2018	May 03, 2018	Apr. 12, 2018	Feb. 01, 2018	Nov. 01, 2017	Aug. 02, 2017	Apr. 28, 2017	Apr. 13, 2017	Feb. 03, 2017	Apr. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Dividends per share of Class A Common Stock (in USD per share)																			$ 2.02	$ 1.93
Dividends/Distributions	$ 201,600	$ 17,800	$ 4,100	$ 201,400	$ 185,200	$ 45,400	$ 226,600	$ 185,600	$ 173,600	$ 153,600	$ 50,500	$ 266,700	$ 157,200	$ 209,400	$ 197,400	$ 20,500	$ 181,200		$ 882,100	$ 830,000	$ 765,700
Distribution to Non-Controlling Interest Holders in the Apollo Operating Group
Class of Stock [Line Items]
Distribution to Non-Controlling Interest Holders in the Apollo Operating Group	$ 90,100	$ 17,800	$ 4,100	$ 101,000	$ 93,000	$ 45,400	$ 113,300	$ 93,000	$ 87,100	$ 77,000	$ 50,500	$ 133,700	$ 81,600	$ 108,800	$ 102,900	$ 20,500	$ 97,000	$ 37,400	$ 464,700	$ 441,300	$ 410,800
Distribution made (in USD per share)						$ 0.18					$ 0.25					$ 0.10
Distributions made related with federal corporate estimated tax payments (in USD per share)		$ 0.10	$ 0.02			0.04
Class A Common Stock
Class of Stock [Line Items]
Dividends per share of Class A Common Stock (in USD per share)	$ 0.50	$ 0	$ 0	$ 0.50	$ 0.46	$ 0	$ 0.56	$ 0.46	$ 0.43	$ 0.38	$ 0	$ 0.66	$ 0.39	$ 0.52	$ 0.49	$ 0	$ 0.45		$ 2.02	$ 1.93	$ 1.85
Dividends/Distributions	$ 111,500	$ 0	$ 0	$ 100,400	$ 92,200	$ 0	$ 113,300	$ 92,600	$ 86,500	$ 76,600	$ 0	$ 133,000	$ 75,600	$ 100,600	$ 94,500	$ 0	$ 84,200		$ 417,386	$ 388,744	$ 354,878
Distribution made (in USD per share)																			$ 2.02	$ 1.93	$ 1.85
Distribution Equivalents on Participating Securities
Class of Stock [Line Items]
Dividends/Distributions	$ 4,400	$ 0	$ 0	$ 4,400	$ 4,100	$ 0	$ 5,000	$ 4,400	$ 4,200	$ 4,100	$ 0	$ 5,400	$ 2,400	$ 3,200	$ 3,300	$ 0	$ 2,900		$ 17,900	$ 18,100	$ 11,800

EQUITY - Interests in Consolida

EQUITY - Interests in Consolidated Entities (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net income attributable to Non-Controlling Interests in consolidated entities:
Net income attributable to Non-Controlling Interests in consolidated entities									$ 693,650	$ 29,627	$ 814,535
Net income attributable to Non-Controlling Interests in the Apollo Operating Group:
Net Income	$ 358,021	$ 521,094	$ 342,161	$ 315,567	$ (377,903)	$ 362,692	$ 143,810	$ (109,348)	1,536,843	19,251	1,443,639
Net income attributable to Non-Controlling Interests in consolidated entities									(693,650)	(29,627)	(814,535)
Net Income (Loss) Attributable to Apollo Global Management, Inc.									843,193	(10,376)	629,104
Adjustments:
Income tax provision (benefit)									(128,994)	86,021	325,945
NYC UBT and foreign tax benefit									(15,890)	(9,764)	(9,798)
Net income (loss) in non-Apollo Operating Group entities									(843,193)	10,376	(629,104)
Total adjustments									(130,510)	9,523	102,384
Net income (loss) after adjustments	$ 358,021	$ 521,094	$ 342,161	$ 315,567	$ (377,903)	$ 362,692	$ 143,810	$ (109,348)	1,536,843	19,251	1,443,639
Other comprehensive income (loss) attributable to Non-Controlling Interests									(7,496)	(17,409)	7,180
Comprehensive Income Attributable to Non-Controlling Interests									686,154	12,218	821,715
Series A Preferred Stock
Adjustments:
Preferred Stock Dividends									(17,531)	(17,531)	(13,538)
Series B Preferred Stock
Adjustments:
Preferred Stock Dividends									(19,125)	(14,131)	0
Other consolidated entities
Net income attributable to Non-Controlling Interests in consolidated entities:
Net income attributable to Non-Controlling Interests in consolidated entities									25,749	27,472	4,476
Net income attributable to Non-Controlling Interests in the Apollo Operating Group:
Net income attributable to Non-Controlling Interests in consolidated entities									(25,749)	(27,472)	(4,476)
Consolidated entities
Net income attributable to Non-Controlling Interests in consolidated entities:
Net income attributable to Non-Controlling Interests in consolidated entities									30,504	31,648	8,891
Net income attributable to Non-Controlling Interests in the Apollo Operating Group:
Net Income									1,375,829	(2,874)	1,537,132
Net income attributable to Non-Controlling Interests in consolidated entities									(30,504)	(31,648)	(8,891)
Net Income (Loss) Attributable to Apollo Global Management, Inc.									1,506,339	(12,397)	1,434,748
Adjustments:
Net income (loss) in non-Apollo Operating Group entities									(1,506,339)	12,397	(1,434,748)
Net income (loss) after adjustments									1,375,829	(2,874)	1,537,132
Interest in management companies and a co-investment vehicle
Net income attributable to Non-Controlling Interests in consolidated entities:
Net income attributable to Non-Controlling Interests in consolidated entities									4,755	4,176	4,415
Net income attributable to Non-Controlling Interests in the Apollo Operating Group:
Net income attributable to Non-Controlling Interests in consolidated entities									(4,755)	(4,176)	(4,415)
Apollo Operating Group
Net income attributable to Non-Controlling Interests in consolidated entities:
Net income attributable to Non-Controlling Interests in consolidated entities									663,146	(2,021)	805,644
Net income attributable to Non-Controlling Interests in the Apollo Operating Group:
Net income attributable to Non-Controlling Interests in consolidated entities									(663,146)	2,021	(805,644)
Net Income (Loss) Attributable to Apollo Global Management, Inc.									(51,030)	35,072	200,225
Adjustments:
Net income (loss) in non-Apollo Operating Group entities									$ 51,030	$ (35,072)	$ (200,225)
Weighted average ownership percentage of Apollo Operating Group									48.40%	50.30%	52.50%

RELATED PARTY TRANSACTIONS AN_3

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Due from and Due to Affiliates (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Due from Related Parties:
Total Due from Related Parties	$ 415,069	$ 378,108
Due to Related Parties:
Total Due to Related Parties	501,387	425,435
Due to Managing Partners and Contributing Partners
Due to Related Parties:
Total Due to Related Parties	302,050	285,598
Due from/to credit funds
Due from Related Parties:
Total Due from Related Parties	186,495	153,687
Due to Related Parties:
Total Due to Related Parties	7,213	3,444
Due from/to private equity funds
Due from Related Parties:
Total Due from Related Parties	27,724	19,993
Due to Related Parties:
Total Due to Related Parties	191,620	136,078
Due from/to real assets funds
Due from Related Parties:
Total Due from Related Parties	26,626	42,471
Due to Related Parties:
Total Due to Related Parties	504	315
Due from portfolio companies
Due from Related Parties:
Total Due from Related Parties	53,394	67,740
Due from Contributing Partners, employees and former employees
Due from Related Parties:
Total Due from Related Parties	$ 120,830	$ 94,217

RELATED PARTY TRANSACTIONS AN_4

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Tax Receivable Agreement (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 29, 2019	Sep. 26, 2019	Aug. 15, 2019	Jul. 31, 2019	May 02, 2019	Apr. 12, 2019	Jan. 31, 2019	Nov. 01, 2018	Aug. 02, 2018	May 03, 2018	Apr. 12, 2018	Feb. 01, 2018	Nov. 01, 2017	Aug. 02, 2017	Apr. 28, 2017	Apr. 13, 2017	Feb. 03, 2017	Apr. 30, 2019	Apr. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Percentage of amount of cash savings																				15.00%
Recorded liability																				$ 41,954	$ 37,891	$ 44,972
Cash payment on tax receivable agreement																		$ 37,200	$ 50,300	37,234	50,267	17,895
Distribution to Non-Controlling Interest Holders in the Apollo Operating Group
Related Party Transaction [Line Items]
Pro rate distribution	$ 90,100	$ 17,800	$ 4,100	$ 101,000	$ 93,000	$ 45,400	$ 113,300	$ 93,000	$ 87,100	$ 77,000	$ 50,500	$ 133,700	$ 81,600	$ 108,800	$ 102,900	$ 20,500	$ 97,000	$ 37,400		$ 464,700	441,300	410,800
Distribution made (in USD per share)						$ 0.18					$ 0.25					$ 0.10
Managing Partners
Related Party Transaction [Line Items]
Percentage of amount of cash savings																				85.00%
Parent Company
Related Party Transaction [Line Items]
Gain (loss) from remeasurement of tax receivable agreement liability																				$ (50,300)	$ 35,400	$ 200,200

RELATED PARTY TRANSACTIONS AN_5

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Due from Contributing Partners, Employees and Former Employees (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Loans to related party	$ 17.1	$ 16.8
Loans due upon liquidation of fund	$ 88.5	$ 66.3

RELATED PARTY TRANSACTIONS AN_6

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Indemnity (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Indemnity liability	$ 12.7	$ 12.2

RELATED PARTY TRANSACTIONS AN_7

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Due to Credit, Private Equity and Real Estate Funds (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
General partner obligation	$ 189,252	$ 137,093
Credit
Related Party Transaction [Line Items]
General partner obligation	0	1,370
Private Equity
Related Party Transaction [Line Items]
General partner obligation	$ 189,252	$ 135,723

RELATED PARTY TRANSACTIONS AN_8

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Athene (Details) - USD ($) $ in Thousands	Sep. 20, 2018	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Asset threshold		$ 8,542,117	$ 5,991,654
Athene Holding
Related Party Transaction [Line Items]
Management fee rate		0.225%
Athene Holding | Amended Fee Agreement
Related Party Transaction [Line Items]
Investment management agreement, initial period before termination election	4 years
Investment management agreement, subsequent period before termination election	2 years
Athene Holding | Revised Fee Agreement
Related Party Transaction [Line Items]
Management fee rate		0.15%
Asset threshold		$ 103,400,000

RELATED PARTY TRANSACTIONS AN_9

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Sub-Allocation Fee Schedule (Details)	12 Months Ended
	Dec. 31, 2019
Related Party Transaction [Line Items]
Sub-allocation fees, maximum percentage of assets	10.00%
Performance revenue, percentages	20.00%
Core Assets
Related Party Transaction [Line Items]
Sub-Allocation Fees	0.065%
Core Plus Assets
Related Party Transaction [Line Items]
Sub-Allocation Fees	0.13%
Yield Assets
Related Party Transaction [Line Items]
Sub-Allocation Fees	0.375%
High Alpha Assets
Related Party Transaction [Line Items]
Sub-Allocation Fees	0.70%
Cash, Treasuries, Equities and Alternatives
Related Party Transaction [Line Items]
Sub-Allocation Fees	0.00%
Cash, Treasuries, Equities and Alternatives | Minimum
Related Party Transaction [Line Items]
Performance revenue, percentages	0.00%
Cash, Treasuries, Equities and Alternatives | Maximum
Related Party Transaction [Line Items]
Performance revenue, percentages	20.00%

RELATED PARTY TRANSACTIONS A_10

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Athene and Apollo Strategic Transaction (Details) - USD ($) $ in Thousands	Oct. 27, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Purchases of investments		$ 15,048	$ 104,786	$ 12,711
Athene Holding
Related Party Transaction [Line Items]
Shares to be issued in exchange of AHL shares	29,154,519
Athene Holding | Class A Common Share
Related Party Transaction [Line Items]
Stock to be issued during period, shares	27,959,184
Purchases of investments	$ 350,000
Maximum number of days limit to share issuance	180 days
Minimum percentage of issued and outstanding shares	35.00%
Percentage increase in issued and outstanding shares	5.00%
Transaction Agreement
Related Party Transaction [Line Items]
Discount due to a lack of marketability	10.00%
Minimum period limit to share issuance	3 years

RELATED PARTY TRANSACTIONS A_11

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Liquidity Agreement (Details) - Liquidity Agreement - Class A Common Stock	12 Months Ended
	Dec. 31, 2019USD ($)
Related Party Transaction [Line Items]
Exchange of AOG Units for Class A Common Stock	$ 50,000,000
Minimum volume-weighted average price of the shares	90.00%
Minimum period limit to share issuance	10 days
Minimum percentage of issued and outstanding shares	2.00%
Minimum ownership percentage	3.50%

RELATED PARTY TRANSACTIONS A_12

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Athora Sub-Advised (Details) - Athene Holding	12 Months Ended
	Dec. 31, 2019
Related Party Transaction [Line Items]
Management fee rate	0.225%
Amended Sub-Advisory Fee Agreement
Related Party Transaction [Line Items]
Management fee rate	0.35%

RELATED PARTY TRANSACTIONS A_13

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - AAA Investments, Narrative (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Carried interest payable rate	20.00%
Class A Common Share | Athene Holding
Related Party Transaction [Line Items]
Economic interest percentage	11.30%	10.20%

RELATED PARTY TRANSACTIONS A_14

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Performance Allocations and Revenues Earned (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Performance allocations from AAA Investments, net			$ 291	$ (5,158)	$ 23,119
Related Party Transaction [Line Items]
Net change in unrealized gains (losses) due to changes in fair value			138,109	(186,516)	95,001
Athene, Athora and AAA Investments
Related Party Transaction [Line Items]
Revenues earned in aggregate from Athene, Athora and AAA Investments, net			788,066	310,412	529,150
Net change in unrealized gains (losses) due to changes in fair value	$ (19,200)	$ 155,500	$ 137,200	$ (186,600)	$ 95,500

RELATED PARTY TRANSACTIONS A_15

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Performance Allocations and Profit Sharing Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Performance allocations	$ 2,005	$ 1,611
Profit sharing payable	$ 550	$ 442

RELATED PARTY TRANSACTIONS A_16

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - AAA Investments Credit Agreement (Details) - AAA Investment Credit Agreement - USD ($)	Apr. 30, 2015	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Maximum advance	$ 10,000,000
Commitment fee on advance (as a percent)	0.125%
Advances to affiliate		$ 8,700,000	$ 6,700,000
Payment period following initial public stock offering	15 months
LIBOR
Related Party Transaction [Line Items]
Spread on advance (as a percent)	1.50%

RELATED PARTY TRANSACTIONS A_17

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - AINV Amended and Restated Investment Advisory Management Agreement (Details) - Apollo Investment Management - Affiliated Entity	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2019
Related Party Transaction [Line Items]
Base management fee, percentage	2.00%	1.50%
Base management fee, subject to condition, percentage		1.00%
In excess of product, percentage		200.00%
Incentive fee, percentage		20.00%
Performance threshold per quarter, percentage		1.75%
Performance threshold per annum, percentage		7.00%

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Investment Commitments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Other Commitments [Line Items]
Unfunded capital commitments	$ 1,100	$ 1,200
Fund IX
Other Commitments [Line Items]
Unfunded capital commitments	$ 394	$ 469

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Litigation and Contingencies (Details) $ in Thousands	Dec. 06, 2018EUR (€)	Jul. 12, 2018USD ($)	Feb. 09, 2018EUR (€)	Dec. 21, 2017USD ($)defendant	Dec. 12, 2016USD ($)	Jun. 20, 2016EUR (€)	May 31, 2018shareholder	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Long-term Purchase Commitment [Line Items]
Amount of loans								$ 2,650,600	$ 1,360,448
Core Litigation Trust v. Apollo Global Management, Inc, et al., Case No. BC 643732
Long-term Purchase Commitment [Line Items]
Damages sought					$ 240,000
Core Litigation Trust v. Apollo Global Management, Inc, et al., Case No. BC 643732 | Loan Agreements 2011
Long-term Purchase Commitment [Line Items]
Amount of loans					$ 360,000
United States District Court Middle District Of Florida Against AGM
Long-term Purchase Commitment [Line Items]
Damages sought | €			€ 30,000,000
Harbinger Capital Partners II LP et al. v. Apollo Global Management Inc, et al. (No. 657515/2017)
Long-term Purchase Commitment [Line Items]
Damages sought				$ 1,900,000
Harbinger Capital Partners II LP et al. v. Apollo Global Management Inc, et al. (No. 657515/2017) | Director
Long-term Purchase Commitment [Line Items]
Number of defendants | defendant				6
Harbinger Capital Partners II LP et al. v. Apollo Global Management Inc, et al. (No. 657515/2017) | Directors, Currently or Formerly Employed
Long-term Purchase Commitment [Line Items]
Number of defendants | defendant				5
ADT Inc. Shareholder Litigation
Long-term Purchase Commitment [Line Items]
Number of suits (in litigation) | shareholder							5
Caldera Litigation, Index No. 652175/2018
Long-term Purchase Commitment [Line Items]
Damages sought		$ 1,500,000
Sale of Insurance Business | Court of Genoa (Italy) (No. 8965/2016)
Long-term Purchase Commitment [Line Items]
Damages sought | €						€ 450,000,000
Other Losses | Court of Genoa (Italy) (No. 8965/2016)
Long-term Purchase Commitment [Line Items]
Damages sought | €						€ 800,000,000
Litigation settlement, amount awarded | €	€ 428,996.10

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Summary of Fixed and Determinable Payments (Details) - Other long-term obligations $ in Thousands	Dec. 31, 2019USD ($)
Other Commitments [Line Items]
2020	$ 16,959
2021	1,871
2022	906
2023	673
2024	673
Thereafter	673
Total	$ 21,755

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Contingent Obligations (Details)	Dec. 31, 2019USD ($)subsidiary	Dec. 31, 2018USD ($)
Variable Interest Entity [Line Items]
Unfunded contingent commitments	$ 1,100,000,000	$ 1,200,000,000
Underwriting Commitments | AGS
Variable Interest Entity [Line Items]
Number of subsidiaries | subsidiary	1
Unfunded contingent commitments	$ 0
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Cumulative revenues recognized if existing investments become worthless	$ 2,600,000,000

COMMITMENTS AND CONTINGENCIES_5

COMMITMENTS AND CONTINGENCIES - Contingent Consideration (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Fair value of the contingent obligation	$ 112.5	$ 74.5

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details)	12 Months Ended
	Dec. 31, 2019segment
Segment Reporting [Abstract]
Number of reportable segments	3

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Performance fees									$ 1,057,139	$ (400,305)	$ 1,306,193
Fee Related Revenues	$ 914,772	$ 702,721	$ 636,579	$ 677,777	$ (114,885)	$ 517,731	$ 523,316	$ 166,903	2,931,849	1,093,065	2,771,803
Salary, bonus and benefits									(514,513)	(459,604)	(428,882)
General, administrative and other									(330,342)	(266,444)	(257,858)
Placement fees									(1,482)	(2,122)	(13,913)
Fee Related Expenses	(599,366)	$ (371,372)	$ (342,525)	$ (378,017)	(73,943)	$ (312,727)	$ (301,394)	$ (214,875)	(1,691,280)	(902,939)	(1,360,049)
Other income (loss), net of Non-Controlling Interest									(46,307)	35,829	245,640
Segment Distributable Earnings									1,214,427	953,479	996,823
Total Assets	8,542,117				5,991,654				8,542,117	5,991,654
Management fees
Segment Reporting Information [Line Items]
Revenues									1,575,814	1,345,252	1,154,925
Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues									123,644	112,278	117,624
Total reportable segment assets
Segment Reporting Information [Line Items]
Performance fees									21,110	28,390	17,666
Fee Related Revenues									2,299,504	1,869,175	1,913,837
Salary, bonus and benefits									(463,316)	(414,962)	(394,155)
General, administrative and other									(273,004)	(239,291)	(228,579)
Placement fees									(1,085)	(2,122)	(13,913)
Fee Related Expenses									(1,027,657)	(882,004)	(915,485)
Other income (loss), net of Non-Controlling Interest									4,537	4,969	43,455
Realized performance fees									602,106	380,188	631,359
Realized profit sharing expense									(290,252)	(225,629)	(278,838)
Net Realized Performance Fees									311,854	154,559	352,521
Realized principal investment income									65,697	69,711	68,242
Net interest loss and other									(65,326)	(42,030)	(48,353)
Segment Distributable Earnings									1,214,427	953,479	996,823
Total Assets	7,337,517				4,791,646				7,337,517	4,791,646
Total reportable segment assets | Management fees
Segment Reporting Information [Line Items]
Revenues									1,491,070	1,282,688	1,082,315
Total reportable segment assets | Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues									122,890	111,567	117,624
Total reportable segment assets | Fee Related Revenues, Expenses and Earnings
Segment Reporting Information [Line Items]
Fee Related Revenues									1,635,070	1,422,645	1,217,605
Fee Related Expenses									(737,405)	(656,375)	(636,647)
Fee Related Earnings									902,202	771,239	624,413
Total reportable segment assets | Credit Segment
Segment Reporting Information [Line Items]
Performance fees									21,110	28,390	17,666
Salary, bonus and benefits									(196,143)	(180,448)	(172,152)
General, administrative and other									(131,664)	(119,450)	(107,617)
Placement fees									(272)	(1,130)	(1,073)
Other income (loss), net of Non-Controlling Interest									54	1,104	11,285
Realized performance fees									169,611	45,139	91,982
Realized profit sharing expense									(93,675)	(36,079)	(34,409)
Net Realized Performance Fees									75,936	9,060	57,573
Realized principal investment income									8,764	19,199	19,249
Net interest loss and other									(21,997)	(13,619)	(16,638)
Segment Distributable Earnings									579,170	394,309	394,204
Total Assets	3,133,685				2,160,190				3,133,685	2,160,190
Total reportable segment assets | Credit Segment | Management fees
Segment Reporting Information [Line Items]
Revenues									779,266	642,331	555,586
Total reportable segment assets | Credit Segment | Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues									44,116	8,872	30,325
Total reportable segment assets | Credit Segment | Fee Related Revenues, Expenses and Earnings
Segment Reporting Information [Line Items]
Fee Related Revenues									844,492	679,593	603,577
Fee Related Expenses									(328,079)	(301,028)	(280,842)
Fee Related Earnings									516,467	379,669	334,020
Total reportable segment assets | Private Equity Segment
Segment Reporting Information [Line Items]
Performance fees									0	0	0
Salary, bonus and benefits									(184,403)	(160,512)	(144,391)
General, administrative and other									(99,098)	(79,450)	(81,058)
Placement fees									(812)	(585)	(4,238)
Other income (loss), net of Non-Controlling Interest									4,306	1,923	27,843
Realized performance fees									429,152	279,078	445,923
Realized profit sharing expense									(195,140)	(156,179)	(193,489)
Net Realized Performance Fees									234,012	122,899	252,434
Realized principal investment income									53,782	43,150	44,087
Net interest loss and other									(31,804)	(20,081)	(23,131)
Segment Distributable Earnings									570,501	474,131	511,970
Total Assets	3,296,742				2,107,376				3,296,742	2,107,376
Total reportable segment assets | Private Equity Segment | Management fees
Segment Reporting Information [Line Items]
Revenues									523,194	477,185	356,208
Total reportable segment assets | Private Equity Segment | Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues									71,324	89,602	84,216
Total reportable segment assets | Private Equity Segment | Fee Related Revenues, Expenses and Earnings
Segment Reporting Information [Line Items]
Fee Related Revenues									594,518	566,787	440,424
Fee Related Expenses									(284,313)	(240,547)	(229,687)
Fee Related Earnings									314,511	328,163	238,580
Total reportable segment assets | Real Assets Segment
Segment Reporting Information [Line Items]
Performance fees									0	0	0
Salary, bonus and benefits									(82,770)	(74,002)	(77,612)
General, administrative and other									(42,242)	(40,391)	(39,904)
Placement fees									(1)	(407)	(8,602)
Other income (loss), net of Non-Controlling Interest									177	1,942	4,327
Realized performance fees									3,343	55,971	93,454
Realized profit sharing expense									(1,437)	(33,371)	(50,940)
Net Realized Performance Fees									1,906	22,600	42,514
Realized principal investment income									3,151	7,362	4,906
Net interest loss and other									(11,525)	(8,330)	(8,584)
Segment Distributable Earnings									64,756	85,039	90,649
Total Assets	$ 907,090				$ 524,080				907,090	524,080
Total reportable segment assets | Real Assets Segment | Management fees
Segment Reporting Information [Line Items]
Revenues									188,610	163,172	170,521
Total reportable segment assets | Real Assets Segment | Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues									7,450	13,093	3,083
Total reportable segment assets | Real Assets Segment | Fee Related Revenues, Expenses and Earnings
Segment Reporting Information [Line Items]
Fee Related Revenues									196,060	176,265	173,604
Fee Related Expenses									(125,013)	(114,800)	(126,118)
Fee Related Earnings									$ 71,224	$ 63,407	$ 51,813

SEGMENT REPORTING - Reconcili_2

SEGMENT REPORTING - Reconciliation of Consolidated to Reportable Segment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 914,772	$ 702,721	$ 636,579	$ 677,777	$ (114,885)	$ 517,731	$ 523,316	$ 166,903	$ 2,931,849	$ 1,093,065	$ 2,771,803
Performance fees									(1,057,139)	400,305	(1,306,193)
Principal investment income									(166,527)	(5,122)	(161,630)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Equity awards granted by unconsolidated related parties, reimbursable expenses and other									(102,672)	(81,892)	(75,940)
Adjustments related to consolidated funds and VIEs									12,854	16,386	4,617
Performance fees									(1,036,688)	402,700	(1,319,924)
Principal investment income									(170,273)	(7,614)	(162,951)
Realized performance fees									602,106	380,188	631,359
Realized principal investment income and other									62,328	66,342	64,873
Segment Reconciling Items | Fee Related
Segment Reporting Information [Line Items]
Revenues									1,635,070	1,422,645	1,217,605
Total reportable segment assets
Segment Reporting Information [Line Items]
Revenues									2,299,504	1,869,175	1,913,837
Performance fees									(21,110)	(28,390)	(17,666)
Realized performance fees									602,106	380,188	631,359
Total reportable segment assets | Fee Related
Segment Reporting Information [Line Items]
Revenues									$ 1,635,070	$ 1,422,645	$ 1,217,605

SEGMENT REPORTING - Reconcili_3

SEGMENT REPORTING - Reconciliation of Consolidated to Reportable Segment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Expenses	$ 599,366	$ 371,372	$ 342,525	$ 378,017	$ 73,943	$ 312,727	$ 301,394	$ 214,875	$ 1,691,280	$ 902,939	$ 1,360,049
Equity-based compensation									(189,648)	(173,228)	(91,450)
Total profit sharing expense									(556,926)	57,833	(515,073)
Dividend-related compensation expense									(16,000)	0	0
Segment Reconciling Items
Segment Reporting Information [Line Items]
Equity awards granted by unconsolidated related parties, reimbursable expenses and other									(103,292)	(82,724)	(75,940)
Reclassification of interest expenses									(98,369)	(59,374)	(52,873)
Transaction-related charges, net									(49,213)	5,631	(17,498)
Charges associated with corporate conversion									(21,987)	0	0
Equity-based compensation									(70,962)	(68,229)	(64,954)
Total profit sharing expense									(594,052)	(41,868)	(512,137)
Realized profit sharing expense									290,252	225,629	278,838
Segment Reconciling Items | Fee Related
Segment Reporting Information [Line Items]
Expenses									737,405	656,375	636,647
Total reportable segment assets
Segment Reporting Information [Line Items]
Expenses									1,027,657	882,004	915,485
Realized profit sharing expense									290,252	225,629	278,838
Total reportable segment assets | Fee Related
Segment Reporting Information [Line Items]
Expenses									$ 737,405	$ 656,375	$ 636,647

SEGMENT REPORTING - Reconcili_4

SEGMENT REPORTING - Reconciliation of Consolidated to Reportable Segment Other Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Other Income (Loss)	$ 108,966	$ (42,151)	$ 65,004	$ 35,461	$ (149,650)	$ 176,780	$ (59,188)	$ (52,796)	$ 167,280	$ (84,854)	$ 357,830
Net (gains) losses from investment activities									(138,154)	186,449	(95,104)
Other Income, net of Non-Controlling Interest									(46,307)	35,829	245,640
Segment Reconciling Items
Segment Reporting Information [Line Items]
Adjustments related to consolidated funds and VIEs									(38,607)	(43,858)	(9,131)
Loss from change in tax receivable agreement liability									50,307	(35,405)	(200,240)
Net (gains) losses from investment activities									(138,117)	186,426	(94,774)
Interest income and other, net of Non-Controlling Interest									(36,326)	(17,340)	(10,230)
Other Income, net of Non-Controlling Interest									4,537	4,969	43,455
Net interest loss and other									(61,957)	(38,661)	(44,984)
Total Segments
Segment Reporting Information [Line Items]
Other Income (Loss)									(57,420)	(33,692)	(1,529)
Other Income, net of Non-Controlling Interest									4,537	4,969	43,455
Net interest loss and other									$ (65,326)	$ (42,030)	$ (48,353)

SEGMENT REPORTING - Reconcili_5

SEGMENT REPORTING - Reconciliation of Income (Loss) Before Income Tax Provision to Economic Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Income before income tax provision	$ 424,372	$ 289,198	$ 359,058	$ 335,221	$ (338,478)	$ 381,784	$ 162,734	$ (100,768)	$ 1,407,849	$ 105,272	$ 1,769,584
Net income attributable to Non-Controlling Interests in consolidated entities									(693,650)	(29,627)	(814,535)
Equity-based compensation									189,648	173,228	91,450
Unrealized net (gains) losses from investment activities and other									(138,109)	186,516	(95,001)
Segment Distributable Earnings									1,214,427	953,479	996,823
Segment Reconciling Items
Segment Reporting Information [Line Items]
Transaction-related charges									49,213	(5,631)	17,496
Charges associated with corporate conversion									21,987	0	0
Loss from change in tax receivable agreement liability									50,307	(35,405)	(200,240)
Net income attributable to Non-Controlling Interests in consolidated entities									(30,504)	(31,648)	(8,891)
Unrealized performance fees									(434,582)	782,888	(688,565)
Unrealized profit sharing expense									207,592	(274,812)	226,319
Equity-based profit sharing expense and other									96,208	91,051	6,980
Equity-based compensation									70,962	68,229	64,954
Unrealized principal investment (income) loss									(88,576)	62,097	(94,709)
Unrealized net (gains) losses from investment activities and other									$ (136,029)	$ 191,438	$ (96,105)

SEGMENT REPORTING - Reconcili_6

SEGMENT REPORTING - Reconciliation of Reportable Segments to Total Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 8,542,117	$ 5,991,654
Total reportable segment assets
Segment Reporting Information [Line Items]
Assets	7,337,517	4,791,646
Adjustments
Segment Reporting Information [Line Items]
Assets	$ 1,204,600	$ 1,200,008

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares

Jan. 30, 2020

Nov. 29, 2019

Sep. 26, 2019

Aug. 15, 2019

Jul. 31, 2019

May 02, 2019

Apr. 12, 2019

Jan. 31, 2019

Nov. 01, 2018

Aug. 02, 2018

May 03, 2018

Apr. 12, 2018

Feb. 01, 2018

Nov. 01, 2017

Aug. 02, 2017

Apr. 28, 2017

Apr. 13, 2017

Feb. 03, 2017

Dec. 31, 2019

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Subsequent Event [Line Items]

Dividends declared per share (in USD per share)

$ 2.02

$ 1.93

Class A Common Stock

Subsequent Event [Line Items]

Dividends declared per share (in USD per share)

$ 0.50

$ 0

$ 0

$ 0.50

$ 0.46

$ 0

$ 0.56

$ 0.46

$ 0.43

$ 0.38

$ 0

$ 0.66

$ 0.39

$ 0.52

$ 0.49

$ 0

$ 0.45

2.02

$ 1.93

$ 1.85

Series A Preferred Stock

Subsequent Event [Line Items]

Dividends declared per share (in USD per share)

$ 0.398438

Series B Preferred Stock

Subsequent Event [Line Items]

Dividends declared per share (in USD per share)

$ 0.398438

Subsequent Event | Class A Common Stock

Subsequent Event [Line Items]

Dividends declared per share (in USD per share)

$ 0.89

Subsequent Event | Series A Preferred Stock

Subsequent Event [Line Items]

Dividends declared per share (in USD per share)

0.398438

Subsequent Event | Series B Preferred Stock

Subsequent Event [Line Items]

Dividends declared per share (in USD per share)

$ 0.398438

QUARTERLY FINANCIAL DATA (UNA_3

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenues	$ 914,772	$ 702,721	$ 636,579	$ 677,777	$ (114,885)	$ 517,731	$ 523,316	$ 166,903	$ 2,931,849	$ 1,093,065	$ 2,771,803
Expenses	599,366	371,372	342,525	378,017	73,943	312,727	301,394	214,875	1,691,280	902,939	1,360,049
Other Income (Loss)	108,966	(42,151)	65,004	35,461	(149,650)	176,780	(59,188)	(52,796)	167,280	(84,854)	357,830
Income (Loss) Before Provision for Taxes	424,372	289,198	359,058	335,221	(338,478)	381,784	162,734	(100,768)	1,407,849	105,272	1,769,584
Net Income (Loss)	358,021	521,094	342,161	315,567	(377,903)	362,692	143,810	(109,348)	$ 1,536,843	$ 19,251	$ 1,443,639
Net Income (Loss) Attributable to Apollo Global Management, LLC Class A Shareholders	$ 156,879	$ 354,106	$ 155,659	$ 139,893	$ (196,408)	$ 162,357	$ 54,658	$ (62,645)
Net Income (Loss) per Class A Share - Basic (in USD per share)	$ 0.68	$ 1.64	$ 0.75	$ 0.67	$ (1)	$ 0.77	$ 0.25	$ (0.34)
Net Income (Loss) per Class A Share - Diluted (in USD per share)	$ 0.68	$ 1.63	$ 0.75	$ 0.67	$ (1)	$ 0.77	$ 0.25	$ (0.34)

Uncategorized Items - apo-12312

Label	Element	Value
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 22,901,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(8,150,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	22,901,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(8,116,000)
Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(34,000)
Noncontrolling Interest, Interests in Apollo Operating Group [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (11,210,000)