Apollo Global Management (APO-PA) 10-Q 6 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Nov. 04, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
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 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 Central Index Key	0001411494
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
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		228,815,821
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

CONDENDSED CONSOLIDATED STATEME

CONDENDSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 1,838,646	$ 1,556,202
Restricted cash	17,694	19,779
U.S. Treasury securities, at fair value	0	554,387
Investments (includes performance allocations of $1,128,160 and $1,507,571 as of September 30, 2020 and December 31, 2019, respectively)	3,977,069	3,609,859
Assets of consolidated variable interest entities:
Cash and cash equivalents	805,529
Other assets	318,724	326,449
Incentive fees receivable	1,028	2,414
Due from related parties	487,453	415,069
Deferred tax assets, net	678,799	473,165
Other assets	318,724	326,449
Lease assets	301,779	190,696
Goodwill	116,958	93,911
Total Assets	18,627,870	8,542,117
Liabilities:
Accounts payable and accrued expenses	143,664	94,364
Accrued compensation and benefits	221,185	64,393
Deferred revenue	120,075	84,639
Due to related parties	712,186	501,387
Profit sharing payable	666,734	758,669
Debt	3,151,247	2,650,600
Liabilities of consolidated variable interest entities:
Other liabilities	169,522	210,740
Other liabilities	169,522	210,740
Lease liabilities	336,769	209,479
Total Liabilities	14,438,866	5,503,990
Commitments and Contingencies (see note 16)
Apollo Global Management, Inc. stockholders’ equity:
Additional paid in capital	929,524	1,302,587
Accumulated deficit	(396,895)	0
Accumulated other comprehensive income (loss)	2,722	(4,578)
Total Apollo Global Management, Inc. Stockholders’ equity	1,089,564	1,852,222
Total Stockholders’ Equity	4,189,004	3,038,127
Total Liabilities and Stockholders’ Equity	18,627,870	8,542,117
Consolidated Entities Excluding VIE
Apollo Global Management, Inc. stockholders’ equity:
Non-Controlling Interests	1,688,906	281,904
Series A Preferred Stock
Apollo Global Management, Inc. stockholders’ equity:
Preferred stock	264,398	264,398
Series B Preferred Stock
Apollo Global Management, Inc. stockholders’ equity:
Preferred stock	289,815	289,815
Class A Common Stock
Apollo Global Management, Inc. stockholders’ equity:
Common stock	0	0
Class B Common Stock
Apollo Global Management, Inc. stockholders’ equity:
Common stock	0	0
Class C Common Stock
Apollo Global Management, Inc. stockholders’ equity:
Common stock	0	0
Apollo Operating Group
Apollo Global Management, Inc. stockholders’ equity:
Non-Controlling Interests	1,410,534	904,001
Consolidated Variable Interest Entities
Assets of consolidated variable interest entities:
Cash and cash equivalents	805,529	45,329
Investments, at fair value	9,900,593	1,213,169
Other assets	183,598	41,688
Other assets	183,598	41,688
Liabilities of consolidated variable interest entities:
Debt, at fair value	5,646,884	850,147
Notes payable	2,464,267	0
Other liabilities	806,333	79,572
Other liabilities	$ 806,333	$ 79,572

CONDENDSED CONSOLIDATED STATE_2

CONDENDSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Performance allocations	$ 1,128,160	$ 1,507,571
Series A Preferred Stock
Preferred stock, shares issued (in shares)	11,000,000	11,000,000
Preferred stock, shares outstanding (in shares)	11,000,000	11,000,000
Series B Preferred Stock
Preferred stock, shares issued (in shares)	12,000,000	12,000,000
Preferred stock, shares outstanding (in shares)	12,000,000	12,000,000
Class A Common Stock
Common stock, par value (in USD per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	90,000,000,000	90,000,000,000
Shares issued (in shares)	228,747,302	222,994,407
Shares outstanding (in shares)	228,747,302	222,994,407
Class B Common Stock
Common stock, par value (in USD per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	999,999,999	999,999,999
Shares issued (in shares)	1	1
Shares outstanding (in shares)	1	1
Class C Common Stock
Common stock, par value (in USD per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	1	1
Shares issued (in shares)	1	1
Shares outstanding (in shares)	1	1

CONDENDSED CONSOLIDATED STATE_3

CONDENDSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Performance allocations	$ 459,241	$ 254,103	$ (350,483)	$ 682,462
Principal investment income (loss)	50,722	33,393	(25,506)	99,020
Total investment income (loss)	509,963	287,496	(375,989)	781,482
Total Revenues	1,018,274	702,721	1,057,523	2,017,077
Compensation and benefits:
Salary, bonus and benefits	163,197	126,695	453,485	369,527
Equity-based compensation	49,726	42,665	161,268	132,404
Profit sharing expense	191,809	88,610	(68,230)	280,335
Total compensation and benefits	404,732	257,970	546,523	782,266
Interest expense	34,889	27,833	98,422	70,243
General, administrative and other	90,822	85,313	259,073	238,814
Placement fees	612	256	1,380	591
Total Expenses	531,055	371,372	905,398	1,091,914
Other Income (Loss):
Net gains (losses) from investment activities	144,472	(19,790)	(851,412)	44,099
Net gains from investment activities of consolidated variable interest entities	122,119	10,631	14,061	24,728
Interest income	1,485	10,152	13,413	25,938
Other income (loss), net	10,161	(43,144)	(3,019)	(36,451)
Total Other Income (Loss)	278,237	(42,151)	(826,957)	58,314
Income (loss) before income tax (provision) benefit	765,456	289,198	(674,832)	983,477
Income tax (provision) benefit	(89,357)	231,896	66,173	195,345
Net Income (Loss)	676,099	521,094	(608,659)	1,178,822
Net (income) loss attributable to Non-Controlling Interests	(403,700)	(157,824)	331,169	(501,672)
Net Income (Loss) Attributable to Apollo Global Management, Inc.	272,399	363,270	(277,490)	677,150
Management fees
Revenues:
Revenues	433,570	394,547	1,240,127	1,162,788
Advisory and transaction fees, net
Revenues:
Revenues	73,449	16,440	172,369	67,133
Incentive fees
Revenues:
Revenues	1,292	4,238	21,016	5,674
Series A Preferred Stock
Other Income (Loss):
Preferred Stock Dividends	(4,382)	(4,382)	(13,148)	(13,148)
Series B Preferred Stock
Other Income (Loss):
Preferred Stock Dividends	(4,781)	(4,782)	(14,344)	(14,344)
Class A Common Stock
Other Income (Loss):
Net Income (Loss) Attributable to Apollo Global Management, Inc. Class A Common Stockholders	$ 263,236	$ 354,106	$ (304,982)	$ 649,658
Net Income (Loss) Per Share of Class A Common Stock:
Net Income (Loss) Available to Class A Common Stock – Basic (in USD per share)	$ 1.11	$ 1.64	$ (1.41)	$ 3.07
Net Income (Loss) Available to Class A Common Stock – Diluted (in USD per share)	$ 1.11	$ 1.63	$ (1.41)	$ 3.06
Weighted Average Number of Shares of Class A Common Stock Outstanding – Basic (in shares)	227,771,678	205,797,643	227,395,847	202,087,827
Weighted Average Number of Shares of Class A Common Stock Outstanding – Diluted (in shares)	227,771,678	207,641,323	227,395,847	203,745,454

CONDENDSED CONSOLIDATED STATE_4

CONDENDSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 676,099	$ 521,094	$ (608,659)	$ 1,178,822
Other Comprehensive Income (Loss), net of tax:
Currency translation adjustments, net of tax	19,524	(14,616)	20,652	(17,021)
Net gain (loss) from change in fair value of cash flow hedge instruments	52	50	153	(1,862)
Net gain (loss) on available-for-sale securities	106	(68)	(1,242)	162
Total Other Comprehensive Income (Loss), net of tax	19,682	(14,634)	19,563	(18,721)
Comprehensive Income (Loss)	695,781	506,460	(589,096)	1,160,101
Comprehensive (Income) Loss attributable to Non-Controlling Interests	(416,781)	(144,825)	318,906	(485,619)
Comprehensive Income (Loss) Attributable to Apollo Global Management, Inc.	$ 279,000	$ 361,635	$ (270,190)	$ 674,482

CONDENDSED CONSOLIDATED STATE_5

CONDENDSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - 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, Inc. Shareholders’ Equity	Non- Controlling Interests in Consolidated Entities	Non- Controlling Interests in Apollo Operating Group
Balance, beginning of period (in shares) at Dec. 31, 2018			201,400,500	1			0
Balance, beginning of period at Dec. 31, 2018	$ 2,451,840							$ 264,398	$ 289,815			$ 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	(8)											(8)			(8)
Capital increase related to equity-based compensation	102,189											102,189			102,189
Capital contributions	1,081															1,081
Dividends/Distributions	(735,639)							(13,148)	(14,344)			(191,796)	(127,629)		(346,917)	(14,103)	(374,619)
Payments related to issuances of Class A Common Stock for equity-based awards (in shares)			2,737,557
Payments related to issuances of Class A Common Stock for equity-based awards	(43,063)											5,690	(48,753)		(43,063)
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
Reclassifications resulting from the Conversion (in shares)			(222,403,296)	(1)	222,403,296	1	1
Exchange of AOG Units for Class A Common Stock	16,658											112,464			112,464		(95,806)
Net Income (Loss)	1,178,822							13,148	14,344				649,658		677,150	20,888	480,784
Currency translation adjustments, net of tax	(17,021)													(1,820)	(1,820)	(13,372)	(1,829)
Net gain (loss) from change in fair value of cash flow hedge instruments	(1,862)													(927)	(927)		(935)
Net gain (loss) on available-for-sale securities	162													79	79		83
Balance, end of period (in shares) at Sep. 30, 2019					222,403,296	1	1
Balance, end of period at Sep. 30, 2019	2,842,433							0	0	$ 264,398	$ 289,815	1,217,231	0	(6,827)	1,764,617	266,016	811,800
Balance, beginning of period (in shares) at Jun. 30, 2019			200,435,587	1			0
Balance, beginning of period at Jun. 30, 2019	2,540,990							264,398	289,815			1,052,259	(222,007)	(5,192)	1,379,273	280,662	881,055
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dilution impact of issuance of Class A Common Stock	17											17			17
Capital increase related to equity-based compensation	33,867											33,867			33,867
Capital contributions	555															555
Dividends/Distributions	(247,812)							(4,382)	(4,782)			22,824	(127,629)		(113,969)	(10,944)	(122,899)
Payments related to issuances of Class A Common Stock for equity-based awards (in shares)			226,456
Payments related to issuances of Class A Common Stock for equity-based awards	(3,610)											860	(4,470)		(3,610)
Repurchase of Class A Common Stock (in shares)			(143,000)
Repurchase of Class A Common Stock	(4,610)											(4,610)			(4,610)
Exchange of AOG Units for Class A Common Stock (in shares)			21,884,253
Reclassifications resulting from the Conversion (in shares)			(222,403,296)	(1)	222,403,296	1	1
Reclassification resulting from the Conversion								(264,398)	(289,815)	264,398	289,815
Exchange of AOG Units for Class A Common Stock	16,576											112,014			112,014		(95,438)
Net Income (Loss)	521,094							4,382	4,782				354,106		363,270	7,083	150,741
Currency translation adjustments, net of tax	(14,616)													(1,625)	(1,625)	(11,340)	(1,651)
Net gain (loss) from change in fair value of cash flow hedge instruments	50													25	25		25
Net gain (loss) on available-for-sale securities	(68)													(35)	(35)		(33)
Balance, end of period (in shares) at Sep. 30, 2019					222,403,296	1	1
Balance, end of period at Sep. 30, 2019	2,842,433							0	0	264,398	289,815	1,217,231	0	(6,827)	1,764,617	266,016	811,800
Balance, beginning of period (in shares) at Dec. 31, 2019					222,994,407	1	1
Balance, beginning of period at Dec. 31, 2019	3,038,127									264,398	289,815	1,302,587	0	(4,578)	1,852,222	281,904	904,001
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity transaction with Athene Holding	1,159,709											(54,868)			(54,868)		1,214,577
Consolidation of VIEs	1,895,095															1,895,095
Dilution impact of issuance of Class A Common Stock	8,286											8,286			8,286
Capital increase related to equity-based compensation	133,850											133,850			133,850
Capital contributions	190,093															190,093
Dividends/Distributions	(1,506,570)									(13,148)	(14,344)	(428,721)	0		(456,213)	(666,083)	(384,274)
Payments related to issuances of Class A Common Stock for equity-based awards (in shares)					3,270,490
Payments related to issuances of Class A Common Stock for equity-based awards	(62,922)											28,991	(91,913)		(62,922)
Repurchase of Class A Common Stock (in shares)		(2,735,546)			(2,755,095)
Repurchase of Class A Common Stock	(91,617)	$ (90,700)										(91,617)			(91,617)
Exchange of AOG Units for Class A Common Stock (in shares)					5,237,500
Reclassification resulting from the Conversion								$ (264,398)	$ (289,815)	264,398	289,815
Exchange of AOG Units for Class A Common Stock	14,049											31,016			31,016		(16,967)
Net Income (Loss)	(608,659)									13,148	14,344		(304,982)		(277,490)	(23,320)	(307,849)
Currency translation adjustments, net of tax	20,652													7,891	7,891	11,217	1,544
Net gain (loss) from change in fair value of cash flow hedge instruments	153													82	82		71
Net gain (loss) on available-for-sale securities	(1,242)													(673)	(673)		(569)
Balance, end of period (in shares) at Sep. 30, 2020					228,747,302	1	1
Balance, end of period at Sep. 30, 2020	4,189,004									264,398	289,815	929,524	(396,895)	2,722	1,089,564	1,688,906	1,410,534
Balance, beginning of period (in shares) at Jun. 30, 2020					229,189,715	1	1
Balance, beginning of period at Jun. 30, 2020	4,241,937									264,398	289,815	1,032,442	(653,745)	(3,879)	929,031	2,107,870	1,205,036
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dilution impact of issuance of Class A Common Stock	(43)											(43)			(43)
Capital increase related to equity-based compensation	40,620											40,620			40,620
Capital contributions	8,240															8,240
Dividends/Distributions	(763,733)									(4,382)	(4,781)	(116,083)	0		(125,246)	(538,513)	(99,974)
Payments related to issuances of Class A Common Stock for equity-based awards (in shares)					118,587
Payments related to issuances of Class A Common Stock for equity-based awards	(6,386)											0	(6,386)		(6,386)
Repurchase of Class A Common Stock (in shares)					(561,000)
Repurchase of Class A Common Stock	(27,412)											(27,412)			(27,412)
Net Income (Loss)	676,099									4,382	4,781		263,236		272,399	100,021	303,679
Currency translation adjustments, net of tax	19,524													6,510	6,510	11,288	1,726
Net gain (loss) from change in fair value of cash flow hedge instruments	52													28	28		24
Net gain (loss) on available-for-sale securities	106													63	63		43
Balance, end of period (in shares) at Sep. 30, 2020					228,747,302	1	1
Balance, end of period at Sep. 30, 2020	$ 4,189,004									$ 264,398	$ 289,815	$ 929,524	$ (396,895)	$ 2,722	$ 1,089,564	$ 1,688,906	$ 1,410,534

CONDENDSED CONSOLIDATED STATE_6

CONDENDSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities:
Net Income (Loss)	$ (608,659)	$ 1,178,822
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity-based compensation	161,268	132,404
Depreciation and amortization	13,058	11,442
Unrealized (gains) losses from investment activities	839,902	(39,250)
Principal investment (income) loss	25,506	(99,020)
Performance allocations	350,483	(682,462)
Change in fair value of contingent obligations	3,629	23,740
Loss from change in tax receivable agreement liability	0	38,575
Deferred taxes, net	(114,399)	(207,630)
Net loss related to cash flow hedge instruments	0	(1,974)
Non-cash lease expense	32,991	34,592
Other non-cash amounts included in net income (loss), net	(6,550)	(24,686)
Cash flows due to changes in operating assets and liabilities:
Incentive fees receivable	1,386	3,699
Due from related parties	(65,856)	(64,891)
Accounts payable and accrued expenses	49,300	25,942
Accrued compensation and benefits	155,865	92,578
Deferred revenue	38,805	69,395
Due to related parties	1,601	56
Profit sharing payable	(82,695)	219,564
Lease liability	(16,784)	(24,266)
Other assets and other liabilities, net	(57,898)	(62,247)
Cash distributions of earnings from principal investments	16,538	34,311
Cash distributions of earnings from performance allocations	220,948	193,833
Satisfaction of contingent obligations	(12,870)	(1,827)
Apollo Fund and VIE related:
Net Cash Provided by Operating Activities	1,514,716	835,012
Cash Flows from Investing Activities:
Purchases of fixed assets	(48,084)	(18,600)
Acquisitions	48,518	0
Proceeds from sale of investments	21,855	2,810
Purchase of investments	(528,462)	(15,048)
Purchase of U.S. Treasury securities	(1,056,827)	(541,530)
Proceeds from maturities of U.S. Treasury securities	1,598,357	390,336
Cash contributions to equity method investments	(194,374)	(116,498)
Cash distributions from equity method investments	141,684	47,869
Issuance of related party loans	(315)	(1,775)
Repayment of related party loans	9,040	0
Other investing activities	1,141	144
Net Cash Used in Investing Activities	(7,467)	(252,292)
Cash Flows from Financing Activities:
Principal repayments of debt	(16,990)	(29)
Dividends to Preferred Stockholders	(27,492)	(27,492)
Issuance of debt	518,756	1,005,964
Satisfaction of tax receivable agreement	(48,195)	(37,234)
Repurchase of Class A Common Stock	(91,617)	(110,726)
Payments related to deliveries of Class A Common Stock for RSUs	(91,913)	(48,753)
Dividends paid	(428,721)	(319,425)
Distributions paid to Non-Controlling Interests in Apollo Operating Group	(384,274)	(374,619)
Issuance of related party loans	(28,280)	0
Repayment of related party loans	28,280	0
Other financing activities	(9,890)	(18,401)
Apollo Fund and VIE related:
Principal repayment of debt	(16,990)	(29)
Net Cash Provided by (Used in) Financing Activities	(466,690)	58,798
Net Increase (Decrease) in Cash and Cash Equivalents, Restricted Cash and Cash Held at Consolidated Variable Interest Entities	1,040,559	641,518
Cash and Cash Equivalents, Restricted Cash and Cash Held at Consolidated Variable Interest Entities, Beginning of Period	1,621,310	662,875
Cash and Cash Equivalents, Restricted Cash and Cash Held at Consolidated Variable Interest Entities, End of Period	2,661,869	1,304,393
Supplemental Disclosure of Cash Flow Information:
Interest paid	88,953	54,584
Interest paid by consolidated variable interest entities	134,460	10,602
Income taxes paid	28,107	42,253
Supplemental Disclosure of Non-Cash Investing Activities:
Non-cash distributions from principal investments	(4,678)	(1,098)
Non-cash purchases of other investments, at fair value	1,153,316	0
Non-cash loss on Athene equity swap	(61,261)	0
Acquisition of goodwill	663	0
Contingent consideration	(6,208)	0
Supplemental Disclosure of Non-Cash Financing Activities:
Capital increases related to equity-based compensation	133,850	102,189
Issuance of restricted shares	28,991	5,690
Non-cash issuance of AOG units to Athene	1,214,577	0
Other non-cash financing activities	8,286	(8)
Non-cash distributions paid to Non-Controlling Interests in consolidated variable interest entities	(515,558)	0
Net Assets Transferred from Consolidated Variable Interest Entity:
Investments, at fair value	9,061,907	0
Other assets	130,907	0
Debt, at fair value	(7,344,884)	0
Other liabilities	(967,575)	0
Non-Controlling interest in consolidated entities related to acquisition	(1,382,509)	0
Adjustments related to exchange of Apollo Operating Group units:
Deferred tax assets	76,580	168,058
Due to related parties	(62,531)	(39,092)
Additional paid in capital	(14,049)	(16,658)
Non-Controlling Interest in Apollo Operating Group	16,967	95,806
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	2,661,869	1,304,393
Consolidated Variable Interest Entities
Apollo Fund and VIE related:
Net realized and unrealized (gains) losses from investing activities and debt	154,613	(22,568)
Cash transferred from consolidated VIEs	502,153	0
Purchases of investments	(1,557,686)	(309,262)
Proceeds from sale of investments	1,691,247	301,591
Changes in other assets and other liabilities, net	(221,180)	14,551
Cash Flows from Financing Activities:
Principal repayments of debt	(828,975)	0
Issuance of debt	830,838	0
Apollo Fund and VIE related:
Principal repayment of debt	(828,975)	0
Issuances of debt within other liabilities of consolidated VIEs	68,819	0
Distributions paid to Non-Controlling Interests in consolidated entities	(146,867)	(11,347)
Contributions from Non-Controlling Interests in consolidated entities	$ 189,831	$ 860

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2020
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, AGM 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 September 30, 2020, the Company owned, through six intermediate holding companies, 52.9% 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 September 30, 2020, Holdings owned 40.4% 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 condensed consolidated financial statements. Athene and Apollo Strategic Transaction On February 28, 2020, pursuant to a transaction agreement (the “Transaction Agreement”) between Athene Holding, AGM Inc. and the entities that form the Apollo Operating Group, the Apollo Operating Group issued 29,154,519 non-voting equity interests of the Apollo Operating Group to Athene Holding. As a result, as of September 30, 2020, Athene Holding owned 6.7% of the economic interests in the Apollo Operating Group. See note 15 for further disclosure regarding the Transaction Agreement. As noted further in note 15, Apollo purchased a 17% incremental equity ownership stake in Athene, bringing Apollo’s beneficial ownership in Athene to 28.0%, at the close of the transaction. This has resulted in Apollo’s indirect ownership in certain VIEs, through Athene, being considered significant such that the Company has the power to direct the activities that most significantly impact the economic performance of these VIEs. Accordingly, there has been a significant increase in consolidated VIE assets, liabilities and Non-Controlling Interests as of September 30, 2020 as compared to December 31, 2019. 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	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and instructions to the Quarterly Report on Form 10-Q. The condensed consolidated financial statements and these notes are unaudited and exclude some of the disclosures required in annual financial statements. Management believes it has made all necessary adjustments (consisting only of normal recurring items) so that the condensed consolidated financial statements are presented fairly and that estimates made in preparing its condensed consolidated financial statements are reasonable and prudent. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. These condensed consolidated financial statements should be read in conjunction with the annual financial statements included in the 2019 Annual Report. The condensed 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’ condensed 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. 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 condensed 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 condensed consolidated statements of operations. The portion attributable to Non-Controlling Interests is reported within net income attributable to Non-Controlling Interests in the condensed 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 condensed consolidated statements of operations. The carrying values of the money market funds and U.S. Treasury securities were $1.5 billion and $253.5 million as of September 30, 2020 and December 31, 2019, 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 condensed 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 condensed 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 external 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 (loss) in the condensed consolidated statements of operations. The carrying amounts of equity method investments are recorded in investments in the condensed 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 condensed consolidated financial statements using the fair value of the financial assets or financial liabilities of the consolidated CLOs, whichever are more observable. Where financial assets are more observable, 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 nonfinancial 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. Where financial liabilities are more observable, the financial liabilities of the consolidated CLOs are measured at fair value and the financial assets are measured in consolidation as: (i) the sum of the fair value of the financial liabilities, and the carrying value of any nonfinancial liabilities that are incidental to the operations of the CLOs less (ii) the carrying value of any nonfinancial assets that are incidental to the operations of the CLOs. The resulting amount is allocated to the individual financial assets 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. Certain consolidated VIEs have applied the fair value option for certain investments in private debt securities that otherwise would not have been carried at fair value with gains and losses in net income. 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 condensed 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 condensed 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 condensed 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 $78.7 million of revenue recognized during the nine months ended September 30, 2020 that was previously deferred as of January 1, 2020. 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. 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. 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 condensed 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 condensed 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 condensed consolidated statements of operations, and any receivable from the respective funds is recorded in due from related parties on the condensed consolidated statements of financial condition. 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. The Company recognizes performance allocations within investment income along with the related principal investment income (as described further below) in the condensed consolidated statements of operations and within the investments line in the condensed consolidated statements of financial condition. When applicable, the Company may record a general partner obligation to return previously distributed performance allocations. The general partner obligation is based upon an assumed liquidation of a fund’s net assets as of the reporting date and is reported within due to related parties. 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. 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. 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 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 condensed consolidated statements of financial condition. The Company’s incentive fees primarily relate to the credit segment and are generally received from CLOs, managed accounts and AINV. Compensation and Benefits 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 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 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 condensed 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 condensed 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 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. 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 condensed 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 condensed consolidated financial statements. The Company may also use dividends it receives from investments in MidCap, ARI and AINV to compensate employees. These amounts are recorded as profit sharing expense in the Company’s condensed consolidated statements of operations. 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 primarily includes professional fees, occupancy, depreciation and amortization, travel, information technology and administration expenses. 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,

GOODWILL

GOODWILL	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILLThe carrying value of goodwill was $117.0 million and $93.9 million as of September 30, 2020 and December 31, 2019, respectively. Goodwill primarily relates to the 2007 reorganization of the Company’s predecessor business (the “2007 Reorganization”) and the Company’s acquisition of Stone Tower Capital LLC and its related management companies (“Stone Tower”) in 2012. As of September 30, 2020, there was $92.2 million, $23.8 million and $1.0 million of goodwill related to the credit, private equity and real assets segments, respectively. 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 assets segments, respectively. On June 26, 2020, the Company acquired the remaining portion of the PK AirFinance platform. In connection with the acquisition, the Company recognized goodwill of $22.4 million as of the acquisition date. The Company recognized $27.4 million in total goodwill related to the acquisition of the PK AirFinance platform.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	INVESTMENTS The following table presents Apollo’s investments: As of As of Investments, at fair value $ 1,884,388 $ 1,053,556 Equity method investments 964,521 1,048,732 Performance allocations 1,128,160 1,507,571 Total Investments $ 3,977,069 $ 3,609,859 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. For the three and nine months ended September 30, 2020, the Company’s investment in Athene Holding, for which the fair value option was elected, met the significance criteria as defined by the SEC. As a result, the following table presents summarized financial information of Athene Holding: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Statements of Operations Revenues $ 3,275 $ 4,584 $ 6,124 13,002 Benefits and expenses 2,251 4,305 5,401 11,233 Income before income taxes 1,024 279 723 1,769 Income tax expense (benefit) 140 (14) 124 $ 48 Net income 884 $ 293 599 1,721 Net income attributable to noncontrolling interests 232 — 151 — Net income available to Athene shareholders $ 652 293 $ 448 1,721 Preferred stock dividends 30 17 67 17 Net income available to Athene common shareholders $ 622 276 $ 381 $ 1,704 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 Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Realized gains on sales of investments, net $ 155 $ — $ 2,031 $ 45 Net change in unrealized gains (losses) due to changes in fair value 144,317 (19,790) (853,443) 44,054 Net gains (losses) from investment activities $ 144,472 $ (19,790) $ (851,412) $ 44,099 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 condensed consolidated statements of operations. Equity method investments consisted of the following: Equity Held as of September 30, 2020 (4) December 31, 2019 (4) Credit (1) $ 247,775 $ 318,054 Private Equity (2) 624,395 632,540 Real Assets 92,351 98,138 Total equity method investments (3) $ 964,521 $ 1,048,732 (1) The equity method investment in AINV was $40.0 million and $51.0 million as of September 30, 2020 and December 31, 2019, respectively. The value of the Company’s investment in AINV was $24.0 million and $51.3 million based on the quoted market price of AINV as of September 30, 2020 and December 31, 2019, respectively. (2) The equity method investment in Fund VIII was $326.6 million and $370.7 million as of September 30, 2020 and December 31, 2019, respectively, representing an ownership percentage of 2.2% and 2.2% as of September 30, 2020 and December 31, 2019, 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. Performance Allocations Performance allocations receivable recorded within investments in the condensed consolidated statements of financial condition from credit, private equity and real assets funds consisted of the following: As of September 30, 2020 As of December 31, 2019 Credit $ 375,305 $ 418,517 Private Equity 610,269 822,531 Real Assets 142,586 266,523 Total performance allocations $ 1,128,160 $ 1,507,571 The table below provides a roll forward of the performance allocations balance: Credit Private Equity Real Assets Total Performance allocations, January 1, 2020 $ 418,517 $ 822,531 $ 266,523 $ 1,507,571 Change in fair value of funds 119,555 (203,558) (74,460) (158,463) Fund distributions to the Company (162,767) (8,704) (49,477) (220,948) Performance allocations, September 30, 2020 $ 375,305 $ 610,269 $ 142,586 $ 1,128,160 The change in fair value of funds excludes the general partner obligation to return previously distributed performance allocations, which is recorded in due to related parties in the condensed consolidated statements of financial condition. See note 15 for further disclosure regarding the general partner obligation.

PROFIT SHARING PAYABLE

PROFIT SHARING PAYABLE	9 Months Ended
	Sep. 30, 2020
Profit Sharing Payable [Abstract]
PROFIT SHARING PAYABLE	PROFIT SHARING PAYABLE Profit sharing payable consisted of the following: As of September 30, 2020 As of December 31, 2019 Credit $ 324,000 $ 314,125 Private Equity 243,362 329,817 Real Assets 99,372 114,727 Total profit sharing payable $ 666,734 $ 758,669 The table below provides a roll-forward of the profit sharing payable balance: Credit Private Equity Real Assets Total Profit sharing payable, January 1, 2020 $ 314,125 $ 329,817 $ 114,727 $ 758,669 Profit sharing expense 90,284 (76,406) 2,088 15,966 Payments/other (80,409) (10,049) (17,443) (107,901) Profit sharing payable, September 30, 2020 $ 324,000 $ 243,362 $ 99,372 $ 666,734 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 condensed 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 condensed consolidated statements of financial condition. See note 8 for further disclosure regarding deferred equity-based compensation.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2020
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. Consolidated Variable Interest Entities As noted further in note 15, Apollo purchased a 17% incremental equity ownership stake in Athene, bringing Apollo’s beneficial ownership in Athene to approximately 28.5% as of September 30, 2020. This has resulted in Apollo’s indirect ownership through Athene in several VIEs being considered significant and therefore Apollo has consolidated the financial positions and results of operations of such VIEs given that the Company also has the power to direct the activities that most significantly impact the economic performance of these VIEs. Accordingly, there has been a significant increase in consolidated VIE assets and liabilities as of September 30, 2020 when compared to December 31, 2019. Consolidated VIEs include certain CLOs as well as certain funds managed by the Company. Through its role as collateral manager or general partner of these VIEs, the Company has the power to direct the activities that most significantly impact the economic performance of these VIEs. In addition, the Company’s combined interests in these VIEs are significant. The assets are not available to creditors of the Company, and the investors in these consolidated VIEs have no recourse against the assets of the Company. There is no recourse to the Company for the consolidated VIEs’ liabilities. The Company measures the fair value of the financial assets and the financial liabilities of the CLOs using the fair value of either the financial assets or financial liabilities, whichever is more observable (see note 2 for further discussion). 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. 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. The consolidated funds managed by the Company are investment companies and their investments, which include equity securities as well as debt securities, are held at fair value. Other assets of the consolidated funds include interest receivables and receivables from affiliates. Other liabilities include debt held at amortized cost as well as short-term payables. Included within liabilities of the consolidated VIEs are notes payable related to certain funds managed by the Company. Each series of notes in a respective consolidated VIE participates in distributions from the VIE, including principal and interest from underlying investments, in accordance with the terms of the note series. Amounts allocated to the noteholders reflect amounts that would be distributed if the VIE’s affairs were wound up and its assets sold for cash equal to their respective carrying values, its liabilities satisfied in accordance with their terms, and all the remaining amounts distributed to the noteholders. The respective VIEs that issue the notes payable are marked at their prevailing net asset value, which approximates fair value. Results from certain funds managed by the Company are reported on a three month lag based upon the availability of financial information. Net Gains (Losses) from Investment Activities of Consolidated Variable Interest Entities The following table presents net gains from investment activities of the consolidated VIEs: For the Three Months Ended For the Nine Months Ended 2020 (1) 2019 (1) 2020 (1) 2019 (1) Net gains (losses) from investment activities $ 142,247 $ 14,892 $ (358,497) $ 38,679 Net gains (losses) from debt 24,249 (5,217) 205,518 (16,287) Interest and other income 81,663 7,357 317,714 20,772 Interest and other expenses (126,040) (6,401) (150,674) (18,436) Net gains from investment activities of consolidated variable interest entities $ 122,119 $ 10,631 $ 14,061 $ 24,728 (1) Amounts reflect consolidation eliminations. Senior Secured Notes, Subordinated Notes and Secured Borrowings Included within debt, at fair value and other liabilities are amounts due to third-party institutions by the consolidated VIEs. The following table summarizes the principal provisions of those amounts: As of September 30, 2020 As of December 31, 2019 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) $ 5,172,758 2.95 % 6.0 $ 757,628 1.56 % 10.2 Subordinated Notes (2) 606,721 N/A (1) 22.2 93,572 N/A (1) 20.4 Secured Borrowings (2)(3) 265,744 2.16 % 0.4 18,976 3.69 % 7.8 Total $ 6,045,223 $ 870,176 (1) The subordinated notes do not have contractual interest rates but instead receive distributions from the excess cash flows of the VIEs. (2) The notes and borrowings of the consolidated VIEs are collateralized by assets held by each respective vehicle and assets of one vehicle may not be used to satisfy the liabilities of another vehicle. As of September 30, 2020 and December 31, 2019, the fair value of these consolidated VIEs’ assets were $6.2 billion and $1.3 billion, respectively. (3) As of September 30, 2020 and December 31, 2019, secured borrowings consist of consolidated VIEs’ obligations through a repurchase agreement redeemable at maturity with third party lenders. The fair value of the secured borrowings as of September 30, 2020 approximates principal outstanding due to the short term nature of the borrowings. These secured borrowings are classified as a Level III liability within the fair value hierarchy. The fair value of the secured borrowing as of December 31, 2019 was $19.0 million. This secured borrowing was repaid during the nine months ended September 30, 2020. The consolidated VIEs’ debt obligations contain various customary loan covenants. As of September 30, 2020, the Company was not aware of any instances of non-compliance with any of these covenants. As of September 30, 2020, except for the secured borrowings, the contractual maturities for debt of the consolidated VIEs are 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 $ 351,302 $ 222,481 Investments 4,352,789 5,418,295 Receivables 41,636 137,165 Total Assets $ 4,745,727 $ 5,777,941 Liabilities: Debt and other payables $ 1,318,305 $ 3,449,227 Total Liabilities $ 1,318,305 $ 3,449,227 Apollo Exposure (1) $ 154,248 $ 250,521 (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	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 Level I Level II Level III Total Cost Assets U.S. Treasury securities, at fair value $ 1,164,867 $ — $ — $ 1,164,867 $ 1,164,802 Investments, at fair value: Investment in Athene Holding — 1,548,414 — 1,548,414 2,093,426 Other investments — 45,011 290,963 (1) 335,974 299,920 Total investments, at fair value — 1,593,425 290,963 1,884,388 2,393,346 Investments of VIEs, at fair value — 2,017,654 7,831,721 9,849,375 Investments of VIEs, valued using NAV — — — 51,218 Total investments of VIEs, at fair value — 2,017,654 7,831,721 9,900,593 Derivative assets (2) — 123 — 123 Total Assets $ 1,164,867 $ 3,611,202 $ 8,122,684 $ 12,949,971 Liabilities Debt of VIEs, at fair value $ — $ 1,504,205 $ 4,142,679 $ 5,646,884 Other liabilities of VIEs, at fair value — — 23,025 23,025 Contingent consideration obligations (3) — — 103,273 103,273 Derivative liabilities (2) — 89 — 89 Total Liabilities $ — $ 1,504,294 $ 4,268,977 $ 5,773,271 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 (1) Other investments as of September 30, 2020 and December 31, 2019 excludes $27.4 million and $25.8 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 condensed 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 Three Months Ended September 30, 2020 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 267,353 $ 8,015,580 $ 8,282,933 Purchases 18,507 95,943 114,450 Sales of investments/distributions (12,477) (185,327) (197,804) Settlements — (196,746) (196,746) Net realized gains — (328) (328) Changes in net unrealized gains 6,700 74,291 80,991 Cumulative translation adjustment 10,239 27,366 37,605 Transfer into Level III (1) 641 8,829 9,470 Transfer out of Level III (1) — (7,887) (7,887) Balance, End of Period $ 290,963 $ 7,831,721 $ 8,122,684 Change in net unrealized gains included in net gains from investment activities related to investments still held at reporting date $ 6,700 $ — $ 6,700 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — (57,888) (57,888) For the Three Months Ended September 30, 2019 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 114,439 $ 301,066 $ 415,505 Sale of investments/distributions (932) — (932) Changes in net unrealized gains 1,484 10,006 11,490 Cumulative translation adjustment (4,054) (12,667) (16,721) Transfer into Level III (1) 1,693 — 1,693 Balance, End of Period $ 112,630 $ 298,405 $ 411,035 Change in net unrealized gains included in net gains from investment activities related to investments still held at reporting date $ 1,484 $ — $ 1,484 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 10,005 10,005 For the Nine Months Ended September 30, 2020 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 113,410 $ 321,069 $ 434,479 Transfer in due to consolidation — 7,794,128 7,794,128 Purchases 178,462 955,523 1,133,985 Sale of investments/distributions (21,855) (369,204) (391,059) Settlements — (634,694) (634,694) Net realized gains (losses) 1,751 (207) 1,544 Changes in net unrealized gains (losses) 5,519 (260,265) (254,746) Cumulative translation adjustment 13,309 23,582 36,891 Transfer into Level III (1) 641 79,465 80,106 Transfer out of Level III (1) (274) (77,676) (77,950) Balance, End of Period $ 290,963 $ 7,831,721 $ 8,122,684 Change in net unrealized gains included in principal investment income related to investments still held at reporting date $ 5,519 $ — $ 5,519 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — (105,191) (105,191) For the Nine Months Ended September 30, 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 (2,810) — (2,810) Changes in net unrealized gains 8,057 21,178 29,235 Cumulative translation adjustment (4,799) (14,644) (19,443) Transfer into Level III (1) 1,693 — 1,693 Transfer out of Level III (1) (929) (4,116) (5,045) Balance, End of Period $ 112,630 $ 298,405 $ 411,035 Change in net unrealized gains included in principal investment income related to investments still held at reporting date $ 8,057 $ — $ 8,057 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 21,178 21,178 (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 external 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 Three Months Ended September 30, 2020 2019 Contingent Consideration Obligations Debt and Other Liabilities of Consolidated VIEs Total Contingent Consideration Obligations Balance, Beginning of Period $ 99,097 $ 4,258,747 $ 4,357,844 $ 93,223 Issuances — 24,690 24,690 — Repayments — (42,025) (42,025) (512) Net realized gains — (1,245) (1,245) — Changes in net unrealized (gains) losses (1) 4,176 (97,736) (93,560) 3,689 Cumulative translation adjustment — 23,273 23,273 — Balance, End of Period $ 103,273 $ 4,165,704 $ 4,268,977 $ 96,400 For the Nine Months Ended September 30, 2020 2019 Contingent Consideration Obligations Debt and Other Liabilities of Consolidated VIEs Total Contingent Consideration Obligations Balance, Beginning of Period $ 112,514 $ — $ 112,514 $ 74,487 Transfer in due to consolidation — 4,291,286 4,291,286 — Issuances — 327,618 327,618 — Repayments (12,870) (240,775) (253,645) (1,827) Net realized gains — 2,214 2,214 Changes in net unrealized (gains) losses (1) 3,629 (239,779) (236,150) 23,740 Cumulative translation adjustment — 25,140 25,140 — Balance, End of Period $ 103,273 $ 4,165,704 $ 4,268,977 $ 96,400 (1) Changes in fair value of contingent consideration obligations are recorded in profit sharing expense in the condensed 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 September 30, 2020 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average (1) Financial Assets Other investments $ 213,602 Embedded value N/A N/A N/A 69,395 Discounted cash flow Discount rate 18.0% 18.0% 7,966 Third party pricing N/A N/A N/A Investments of consolidated VIEs: Bank Loans 3,455,160 Discounted cash flow Discount rate 2.8% - 17.6% 4.8% Guideline public company TEV / EBITDA 1.3x - 16.8x 10.4x Guideline public company TEV / Revenue 1.4x 1.4x Third party pricing N/A N/A N/A Profit Participating Notes 2,546,845 Discounted cash flow Discount rate 7.5% - 15.0% 14.7% Equity Securities 1,349,575 Discounted cash flow Discount rate 4.4% - 23.0% 7.0% Dividend discount model Discount rate 9.0% - 13.5% 10.7% Adjusted transaction value Purchase multiple 1.12x 1.12x Guideline public company Discount rate 14.0% 14.0% Market comparable companies NTAV multiple 0.34x -1.2x 0.9x Market comparable companies P/E multiple 7.7x 7.7x Real Estate 382,895 Discounted cash flow Discount rate 6.3% - 13.5% 8.3% Discounted cash flow Capitalization rate 5.8% - 8.3% 6.9% Direct capitalization Capitalization rate 5.5% - 8.8% 6.6% Bonds 50,800 Discounted cash flow Discount rate 5.0% - 12.6% 6.7% CLO Notes 41,229 Third party pricing N/A N/A N/A Other Equity Investments 3,289 Discounted cash flow Discount rate 4.4% - 8.2% 6.7% Warrants 1,928 Option model Volatility 49.0% - 62.5% 52.8% Total Investments of Consolidated VIEs 7,831,721 Total Financial Assets $ 8,122,684 Financial Liabilities Liabilities of Consolidated VIEs: Secured loans $ 3,587,956 Discounted cash flow Discount rate 2.0% - 11.2% 3.4% Subordinated notes 340,999 Discounted cash flow Discount rate 9.0% - 16.0% 14.7% Preferred equity 213,724 Discounted cash flow Discount rate 15.0% 15.0% Other liabilities 23,025 Discounted cash flow Discount rate 3.5% - 7.5% 5.5% Transactional value Cost N/A N/A Third party pricing N/A N/A N/A Guideline public company TEV / LTM EBITDA 5.3x 5.3x Total liabilities of Consolidated VIEs: 4,165,704 Contingent Consideration Obligation $ 103,273 Discounted cash flow Discount rate 17.0% 17.0% Total Financial Liabilities $ 4,268,977 As of December 31, 2019 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average (1) 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 N/A Not applicable EBITDA Earnings before interest, taxes, depreciation and amortization LTM Last twelve months NTAV Net tangible asset value P/E Price-to-Earnings TEV Total enterprise value (1) Unobservable inputs were weighted based on the fair value of the investments included in the range. Fair Value Measurement of Investment in Athene Holding As of September 30, 2020, the fair value of Apollo’s Level II investment in Athene Holding was estimated using the closing market price of Athene Holding shares of $34.08 less a DLOM of 16.8%. The DLOM was derived based on the average remaining lock up restrictions on the shares of Athene Holding held by Apollo (36 months from the closing date of the transactions contemplated by the Transaction Agreement) and the estimated volatility in such shares of Athene Holding. The historical share price volatility of a representative set of Athene Holding’s publicly traded insurance peers was calculated over a three year period equivalent to the lock up on the shares of Athene Holding held by Apollo and used as a proxy to estimate the projected volatility in Athene Holding’s shares. As of December 31, 2019, 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. 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 The significant unobservable inputs used in the fair value measurement of bank loans are discount rates. Significant increases (decreases) in any of discount rates would result in a significantly lower (higher) fair value measurement. Where guideline public company method is used to determine fair value, total enterprise value and earnings before interest, taxes, depreciation and amortization (“EBITDA”) are used. The guideline public company method values a business based on trading multiples derived from publicly traded companies that are similar to the subject company. The significant unobservable inputs used in the fair value measurement of bonds, other equity investments and profit participating notes are discount rates. Significant increases (decreases) in discount rates would result in a significantly lower (higher) fair value measurements. The significant unobservable inputs used in the fair value measurement of the equity securities include the discount rate applied, purchase multiple, price-to-earnings multiple and net tangible asset value 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. The significant unobservable inputs used in the fair value measurement of real estate are discount rates and capitalization rates. Significant increases (decreases) in any of discount rates and capitalization rates in isolation would result in a significantly lower (higher) fair value measurement. The significant unobservable inputs used in the fair value measurement of warrants are volatility rates. Significant increases (decreases) in volatility rates would result in a significantly higher (lower) fair value measurement. Liabilities The debt obligations of the certain consolidated VIEs, that are CLOs, were measured on the basis of the fair value of the financial assets of those CLOs as the financial assets were determined to be more observable and, as a result, categorized as Level II in the fair value hierarchy. The significant unobservable inputs used in the fair value measurement of the Company’s liabilities of consolidated VIEs are discount rates. Significant increases (decreases) in discount rates would result in a significantly lower (higher) fair value measurement. 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 external 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 external 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, if available, 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	9 Months Ended
	Sep. 30, 2020
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 $ 180,793 $ 138,359 Less: Accumulated depreciation and amortization (108,044) (96,347) Fixed assets, net 72,749 42,012 Deferred equity-based compensation (1) 85,967 132,422 Prepaid expenses 44,178 55,189 Intangible assets, net 25,161 20,615 Tax receivables 57,064 48,106 Other 33,605 28,105 Total Other Assets $ 318,724 $ 326,449 (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 $57.5 million and $112.4 million, as of September 30, 2020 and December 31, 2019, respectively, is included in other liabilities on the condensed consolidated statements of financial condition. Depreciation expense was $1.8 million and $2.5 million for the three months ended September 30, 2020 and 2019, respectively, and $4.9 million and $7.1 million for the nine months ended September 30, 2020 and 2019, respectively, and is presented as a component of general, administrative and other expense in the condensed consolidated statements of operations.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2020
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 Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease cost $ 9,587 $ 11,249 $ 35,566 $ 30,537 The following table presents supplemental cash flow information related to operating leases: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Operating cash flows for operating leases $ 5,404 $ 582 $ 19,360 $ 20,212 As of September 30, 2020, the Company’s total lease payments by maturity are presented in the following table: Operating Lease Payments Remaining 2020 $ 5,915 2021 36,959 2022 36,168 2023 33,578 2024 31,030 Thereafter 270,469 Total lease payments $ 414,119 Less imputed interest (77,350) Present value of lease payments $ 336,769 The Company has undiscounted future operating lease payments of $250.6 million related to leases that have not commenced that were entered into as of and subsequent to September 30, 2020. Such lease payments are not yet included in the table above or the Company’s condensed consolidated statements of financial condition as lease assets and lease liabilities. These operating leases are anticipated to commence by 2022 with lease terms of approximately 15 years. Supplemental information related to leases is as follows: As of As of Weighted average remaining lease term (in years) 13.7 12.5 Weighted average discount rate 3.1 % 1.6 % As of December 31, 2019, the approximate aggregate minimum future payments required for operating leases under U.S. GAAP applicable to that period were as follows: 2020 2021 2022 2023 2024 Thereafter Total Aggregate minimum future payments $ 28,094 $ 40,516 $ 51,184 $ 49,383 $ 47,237 $ 467,698 $ 684,112

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax (provision) benefit totaled $(89.4) million and $231.9 million for the three months ended September 30, 2020 and 2019, respectively, and $66.2 million and $195.3 million for the nine months ended September 30, 2020 and 2019, respectively. The Company’s effective tax rate was approximately 11.7% and (80.2)% for the three months ended September 30, 2020 and 2019, respectively, and 9.8% and (19.9)% for the nine months ended September 30, 2020 and 2019, respectively. 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 September 30, 2020, the Company’s U.S. federal, state, local and foreign income tax returns for the years 2017 through 2019 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 2018. 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. 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 records additional deferred tax assets as a result of the step-up in the tax basis of assets and intangibles resulting from 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 condensed 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 the portion of the increase in tax basis related to intangibles is 15 years. The realization of the remaining portion of the increase in tax basis relates to the disposition of the underlying assets to which the step-up is attributed. The associated deferred tax assets reverse over the same corresponding time periods. 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 Increase in Deferred Tax Asset Increase in Tax Receivable Agreement Liability Increase to Additional Paid In Capital For the Nine Months Ended September 30, 2020 $ 76,580 $ 62,531 $ 14,049 For the Nine Months Ended September 30, 2019 $ 168,058 $ 39,092 $ 16,658 On March 27, 2020, the U.S. federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The CARES Act is an emergency economic stimulus package in response to the coronavirus outbreak which, among other things, contains numerous income tax provisions. While the Company continues to evaluate the impact of the CARES Act, it does not currently believe it will have a material impact on the Company’s condensed consolidated financial statements or related disclosures.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following: As of September 30, 2020 As of December 31, 2019 Outstanding Fair Value Annualized Outstanding Fair Value Annualized 2024 Senior Notes (1) $ 497,654 $ 552,105 (4) 4.00 % $ 497,164 $ 529,333 (4) 4.00 % 2026 Senior Notes (1) 497,089 575,491 (4) 4.40 496,704 540,713 (4) 4.40 2029 Senior Notes (1) 674,749 792,870 (4) 4.87 674,727 761,780 (4) 4.87 2030 Senior Notes (1) 494,273 501,906 (4) 2.65 — — — 2039 Senior Secured Guaranteed Notes (1) 316,807 370,392 (5) 4.77 316,100 354,093 (5) 4.77 2048 Senior Notes (1) 296,602 369,164 (4) 5.00 296,510 350,331 (4) 5.00 2050 Subordinated Notes (1) 296,527 296,625 (4) 4.95 297,008 304,125 (4) 4.95 Secured Borrowing I (2) 18,734 18,624 (3) 1.84 17,921 17,921 (3) 1.99 Secured Borrowing II (2) 19,925 19,713 (3) 1.71 — — — 2014 AMI Term Facility II (2) — — — 17,266 17,266 (3) 1.75 2016 AMI Term Facility I (2) 19,773 19,773 (3) 1.30 18,915 18,915 (3) 1.30 2016 AMI Term Facility II (2) 19,114 19,114 (3) 1.40 18,285 18,285 (3) 1.40 Total Debt $ 3,151,247 $ 3,535,777 $ 2,650,600 $ 2,912,762 (1) Includes amortization of note discount, as applicable. Outstanding balance is presented net of unamortized debt issuance costs: As of September 30, 2020 As of December 31, 2019 2024 Senior Notes $ 1,979 $ 2,394 2026 Senior Notes 2,662 3,014 2029 Senior Notes 5,443 5,928 2030 Senior Notes 4,296 — 2039 Senior Secured Guaranteed Notes 8,193 8,900 2048 Senior Notes 3,101 3,185 2050 Subordinated Notes 3,473 2,992 Total $ 29,147 $ 26,413 (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 I December 19, 2019 € 15,984 Secured Borrowing II March 5, 2020 € 17,000 2016 AMI Term Facility I January 18, 2016 € 16,870 2016 AMI Term Facility II June 22, 2016 € 16,308 The Secured Borrowings consists of obligations through repurchase agreements redeemable at maturity with third party lenders. The weighted average remaining maturity of Secured Borrowing I and II is 10.9 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 external 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 external 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. 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 London Inter-bank Offered Rate (“LIBOR”) and the applicable margin as of September 30, 2020 was 1.00%. The commitment fee on the $750 million undrawn 2018 AMH Credit Facility as of September 30, 2020 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 September 30, 2020, 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 condensed 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 condensed 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”), at an issue price of 104.812% of par. 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 condensed 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. 2030 Senior Notes —On June 5, 2020, AMH issued $500 million in aggregate principal amount of its 2.65% Senior Notes due 2030 (the “2030 Senior Notes”), at an issue price of 99.704% of par. Interest on the 2030 Senior Notes is payable semi-annually in arrears on June 5 and December 5 of each year. The 2030 Senior Notes will mature on June 5, 2030. The discount is amortized into interest expense on the condensed consolidated statements of operations over the term of the 2030 Senior Notes. The Company is obligated to settle the 2030 Senior Notes for the face amount of $500 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 July 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 July 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 condensed 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 condensed 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 condensed 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 September 30, 2020, the indentures governing the 2024 Senior Notes, the 2026 Senior Notes, the 2029 Senior Notes, the 2030 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 September 30, 2020, 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 Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Interest Expense: (1) 2018 AMH Credit Facility $ 316 $ 334 $ 945 $ 961 2024 Senior Notes 5,163 5,163 15,489 15,489 2026 Senior Notes 5,628 5,629 16,885 16,885 2029 Senior Notes 8,229 8,412 24,687 19,514 2030 Senior Notes 3,465 — 4,428 — 2039 Senior Secured Guaranteed Notes 4,111 4,112 12,334 5,071 2048 Senior Notes 3,781 3,781 11,343 11,343 2050 Subordinated Notes 3,742 — 11,228 — AMI Term Facilities/Secured Borrowings 454 402 1,083 980 Total Interest Expense $ 34,889 27,833 $ 98,422 $ 70,243 (1) Debt issuance costs incurred are amortized into interest expense over the term of the debt arrangement, as applicable.

NET INCOME (LOSS) PER SHARE OF

NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK	NET INCOME (LOSS) 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 Three Months Ended For the Nine Months Ended 2020 2019 2020 2019 Numerator: Net income (loss) attributable to Apollo Global Management, Inc. Class A Common Stockholders $ 263,236 $ 354,106 $ (304,982) $ 649,658 Dividends declared on Class A Common Stock (1) (112,075) (100,355) (413,858) (305,901) Dividends on participating securities (2) (4,008) (4,450) (14,863) (13,524) Earnings allocable to participating securities (5,853) (11,440) — (3) (16,003) Undistributed income (loss) attributable to Class A Common Stockholders: Basic 141,300 237,861 (733,703) 314,230 Dilution effect on distributable income attributable to unvested RSUs — 1,200 — 2,355 Undistributed income (loss) attributable to Class A Common Stockholders: Diluted $ 141,300 $ 239,061 $ (733,703) $ 316,585 Denominator: Weighted average number of shares of Class A Common Stock outstanding: Basic 227,771,678 205,797,643 227,395,847 202,087,827 Dilution effect of unvested RSUs — 1,843,680 — 1,657,627 Weighted average number of shares of Class A Common Stock outstanding: Diluted 227,771,678 207,641,323 227,395,847 203,745,454 Net Income per share of Class A Common Stock: Basic (4) Distributed Income $ 0.49 $ 0.50 $ 1.80 $ 1.52 Undistributed Income (Loss) 0.62 1.14 (3.21) 1.55 Net Income (Loss) per share of Class A Common Stock: Basic $ 1.11 $ 1.64 $ (1.41) $ 3.07 Net Income per share of Class A Common Stock: Diluted (4) Distributed Income $ 0.49 $ 0.49 $ 1.80 $ 1.51 Undistributed Income (Loss) 0.62 1.14 (3.21) 1.55 Net Income per share of Class A Common Stock: Diluted $ 1.11 $ 1.63 $ (1.41) $ 3.06 (1) See note 14 for information regarding the quarterly dividends declared and paid during 2020 and 2019. (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 three months and nine months ended September 30, 2020, all of the classes of securities were determined to be anti-dilutive. For the three and nine months ended September 30, 2019, unvested RSUs were determined to be dilutive, and were accordingly included in the diluted earnings per share calculation. For the three and nine months ended September 30, 2019, 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. 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 three 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, 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, subject to the terms of the AGM Inc. Certificate of Incorporation. 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 47.2% and 44.8% 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 were entitled to vote together as a single class pursuant to the Company’s governing documents as of September 30, 2020 and 2019, respectively. The following table summarizes the anti-dilutive securities. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Weighted average vested RSUs 137,606 109,317 600,651 527,476 Weighted average unvested RSUs 8,149,823 N/A 7,831,201 N/A Weighted average unexercised options — 200,000 — 202,778 Weighted average AOG Units outstanding (1) 174,873,808 195,985,046 175,447,257 200,149,596 Weighted average unvested restricted shares 1,148,241 954,304 1,212,620 989,684 (1) Excludes AOG Units owned by Athene. Athene can only redeem their AOG Units by selling to Apollo or to a different buyer with Apollo’s agreement as detailed in the Liquidity Agreement (see note 15). As these AOG Units are not convertible into shares of Class A Common Stock, they are excluded when calculating diluted net income per share.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2020
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 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 During the nine months ended September 30, 2020 and September 30, 2019, the Company awarded Performance Grants of 2.1 million and 1.3 million RSUs to certain employees with a grant date fair value of $81.5 million and $27.6 million, respectively, 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. 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. Additionally, the Company entered into an agreement in 2018 with several employees under which RSUs would be granted starting in 2020 if year-over-year growth in certain discretionary earnings metrics were attained prior to grant and they remained employed at the grant date. Once granted, the awards vest subject to continued employment and the Company’s receipt of performance revenues sufficient to cover the associated equity-based compensation expense. In connection with these agreements, the Company granted 0.3 million RSUs with a grant date fair value of $11.7 million that were fully vested and expensed during the three months ended June 30, 2020. No additional awards were granted during t he three months ended September 30, 2020. The following table summarizes the equity based compensation expense recognized relating to Performance Grants: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Equity-based compensation $ 19,925 $ 16,456 $ 77,255 $ 45,587 The fair value of all RSU grants made during the nine months ended September 30, 2020 and September 30, 2019 was $185.1 million and $102.2 million, respectively. The following table presents the forfeiture rates and equity-based compensation expense recognized: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Forfeiture rate 0.5 % 0.5 % 6.8 % 1.7 % Equity-based compensation $ 40,473 $ 33,771 $ 133,273 $ 101,709 The following table summarizes RSU activity: Unvested Weighted Average Grant Date Fair Value Vested Total Number of RSUs Outstanding Balance at January 1, 2020 9,784,693 $ 26.38 2,349,618 12,134,311 (1) Granted 4,364,141 42.42 — 4,364,141 Forfeited (949,090) $ 22.83 (17,185) (966,275) Vested (2,486,605) 30.46 2,486,605 — Issued — $ 28.20 (4,661,031) (4,661,031) Balance at September 30, 2020 10,713,139 (2) $ 32.28 158,007 10,871,146 (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 2.3 y ears. 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 condensed consolidated financial statements. Below is a reconciliation of the equity-based compensation allocated to AGM Inc.: For the Nine Months Ended September 30, 2020 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 $ 152,998 — % $ — $ 152,998 Other equity-based compensation awards 8,270 47.1 3,898 4,372 Total equity-based compensation $ 161,268 3,898 157,370 Less other equity-based compensation awards (2) (3,898) (23,520) Capital increase related to equity-based compensation $ — $ 133,850 For the Nine Months Ended September 30, 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 $ 113,254 — % $ — $ 113,254 Other equity-based compensation awards 19,150 44.8 8,576 10,574 Total equity-based compensation $ 132,404 8,576 123,828 Less other equity-based compensation awards (2) (8,576) (21,639) Capital increase related to equity-based compensation $ — $ 102,189 (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	9 Months Ended
	Sep. 30, 2020
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. As of September 30, 2020, the holders of Class A Common Stock had limited voting rights. During the three and nine months ended September 30, 2020 and 2019, 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 January 2019, Apollo increased its authorized share repurchase amount by $250 million, bringing the total authorized repurchase amount to $500 million. On March 12, 2020, Apollo announced that the executive committee of the Company’s board of directors approved a new share repurchase authorization that allows the Company to repurchase up to $500 million of its Class A common stock. This new authorization increased the Company’s capacity to repurchase shares from $80 million of unused capacity under the Company’s previously approved the share repurchase plan authorization. The share repurchase plan authorization 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 Nine Months Ended September 30, 2020 2019 Shares of Class A Common Stock issued in settlement of vested RSUs and share options exercised (1) 4,661,031 4,146,944 Reduction of shares of Class A Common Stock issued (2) (1,972,369) (1,585,734) Shares of Class A Common Stock purchased related to share issuances and forfeitures (3) 581,828 (103,954) Issuance of shares of Class A Common Stock for equity-based awards 3,270,490 2,457,256 (1) The gross value of shares issued was $216.8 million and $127.2 million for the nine months ended September 30, 2020 and 2019, 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 $91.9 million and $48.8 million for the nine months ended September 30, 2020 and 2019, 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 nine months ended September 30, 2020 and 2019, we issu ed 636,425 and 163,024 of such restricted shares and 168,591 a nd 102,089 of such RSUs under the Equity Plan, respectively, and repurchased 19,549 and 265,113 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 54,597 a nd 1,865 restricted shares forfeited during the nine months ended September 30, 2020 and 2019, respectively. Additionally, during the nine months ended September 30, 2020 and 2019, 2,735,546 and 3,453,901 shares of Class A Common Stock were repurchased in open market transactions as part of the publicly announced share repurchase program discussed above, respectively, and such shares were subsequently canceled by the Company. The Company paid $90.7 and $102.4 million for these open market share repurchases during the nine months ended September 30, 2020 and 2019, 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 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 — October 31, 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 January 30, 2020 $ 0.89 February 28, 2020 $ 205.6 $ 155.6 $ 361.2 $ 7.2 N/A — April 15, 2020 — 43.0 (1) 43.0 — May 1, 2020 0.42 May 29, 2020 96.2 85.7 181.9 3.6 July 30, 2020 0.49 August 31, 2020 112.1 100.0 212.1 4.0 For the Nine Months Ended September 30, 2020 $ 1.80 $ 413.9 $ 384.3 $ 798.2 $ 14.8 (1) On April 15, 2020 and April 12, 2019, the Company made $0.21 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 As discussed in note 1, Athene Holding acquired 29,154,519 non-voting equity interests of the Apollo Operating Group, which as of September 30, 2020 represented a 6.7% economic interest in the Apollo Operating Group. 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 Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Net income (loss) attributable to Non-Controlling Interests in consolidated entities: Interest in management companies and a co-investment vehicle (1) $ 1,037 $ 827 $ 2,316 $ 2,853 Other consolidated entities 98,984 6,256 (25,636) 18,035 Net income (loss) attributable to Non-Controlling Interests in consolidated entities $ 100,021 $ 7,083 $ (23,320) $ 20,888 Net income (loss) attributable to Non-Controlling Interests in the Apollo Operating Group: Net income (loss) $ 676,099 $ 521,094 $ (608,659) $ 1,178,822 Net income (loss) attributable to Non-Controlling Interests in consolidated entities (100,021) (7,083) 23,320 (20,888) Net income (loss) after Non-Controlling Interests in consolidated entities 576,078 514,011 (585,339) 1,157,934 Adjustments: Income tax provision (benefit) (2) 89,357 (231,896) (66,173) (195,345) NYC UBT and foreign tax (provision) benefit (3) (11,966) (1,913) (22,609) (6,286) Net income (loss) in non-Apollo Operating Group entities 46 38,724 64 39,270 Series A Preferred Stock Dividends (4,382) (4,382) (13,148) (13,148) Series B Preferred Stock Dividends (4,781) (4,782) (14,344) (14,344) Total adjustments 68,274 (204,249) (116,210) (189,853) Net income (loss) after adjustments 644,352 309,762 (701,549) 968,081 Weighted average ownership percentage of Apollo Operating Group 47.1 % 48.7 % 46.7 % 49.6 % Net income (loss) attributable to Non-Controlling Interests in Apollo Operating Group $ 303,679 $ 150,741 $ (307,849) $ 480,784 Net Income (loss) attributable to Non-Controlling Interests $ 403,700 $ 157,824 $ (331,169) $ 501,672 Other comprehensive income (loss) attributable to Non-Controlling Interests 13,081 (12,999) 12,263 (16,053) Comprehensive Income (Loss) attributable to Non-Controlling Interests $ 416,781 $ 144,825 $ (318,906) $ 485,619 (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 condensed consolidated statements of operations. Of this amount, U.S. federal, state, and local corporate income taxes attributable to AGM Inc. and its subsidiaries 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	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES	RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIESManagement 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 condensed 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 $ 172,570 $ 186,495 Due from private equity funds 34,926 27,724 Due from real assets funds 29,749 26,626 Due from portfolio companies 49,826 53,394 Due from Contributing Partners, employees and former employees 200,382 120,830 Total Due from Related Parties $ 487,453 $ 415,069 Due to Related Parties: Due to Managing Partners and Contributing Partners $ 316,387 $ 302,050 Due to credit funds 8,375 7,213 Due to private equity funds 349,483 191,620 Due to real assets funds 37,941 504 Total Due to Related Parties $ 712,186 $ 501,387 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 realizes as a result of the increases in tax basis of assets that resulted from the 2007 Reorganization, the Conversion, and other exchanges of AOG Units for Class A Common Stock that have occurred in prior years. 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 nine months ended September 30, 2020 and 2019, a $62.5 million and $39.1 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 2020, Apollo made a $48.2 million cash payment pursuant to the tax receivable agreement resulting from the realized tax benefit for the 2019 tax year. Additionally, in connection with this payment, the Company made a corresponding pro rata distribution of $43.0 million ($0.21 per AOG Unit) to the Non-Controlling Interest holders in the Apollo Operating Group. 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. Due from Contributing Partners, Employees and Former Employees As of September 30, 2020 and December 31, 2019, 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 September 30, 2020 and December 31, 2019, the balance included interest-bearing employee loans receivable of $17.4 million and $17.1 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 September 30, 2020 and December 31, 2019 of $174.6 million and $88.5 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 $12.8 million and $12.7 million as of September 30, 2020 and December 31, 2019, 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 $ — $ — Private Equity 348,418 189,252 Real Assets 36,695 — Total general partner obligation $ 385,113 $ 189,252 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 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 LP, 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 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 28, 2019 Athene Holding, AGM Inc. and the entities that form the Apollo Operating Group entered into the Transaction Agreement, pursuant to which, among other things: • (i) Athene Holding issued, on February 28, 2020 (the “Closing Date”), 35,534,942 Class A common shares of Athene Holding (the “AHL Class A Common Shares”) to certain subsidiaries of the Apollo Operating Group in exchange for (i) issuance by the Apollo Operating Group of 29,154,519 non-voting equity interests of the Apollo Operating Group to AHL and (ii) $350 million in cash (“Share Issuance”); • Athene Holding has granted to AGM Inc. the right to purchase additional AHL Class A Common Shares from 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; • 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; • Athene Holding has amended and restated its Twelfth Amended and Restated Bye-laws of Athene Holding to, among other items, eliminate Athene Holding’s multi-class share structure (“Multi-Class Share Elimination”). In connection with the Multi-Class Share Elimination, (i) all of the Class B common shares of Athene Holding would be converted into an equal number of AHL Class A Common Shares on a one-for-one basis and (ii) all of the Class M common shares of Athene Holding was converted into a combination of AHL Class A Common Shares and warrants to purchase AHL Class A Common Shares. Liquidity Agreement In connection with the consummation of the Share Issuance and the Multi-Class Share Elimination, AGM Inc. has also entered into a Liquidity Agreement, dated as of the Closing Date, with Athene Holding (the “Liquidity Agreement”), pursuant to which, once each quarter, Athene Holding is entitled to request to sell a number of AOG Units or request AGM Inc. to sell a number of AGM Inc. Class A Common Stock or AOG Units representing at least $50 million, in each case, in exchange for payment of the Cash Amount (as defined below). If Athene Holding intends to exercise such sale request, it will provide a notice of such intent to sell such AOG Units to AGM Inc. Upon receipt of such notice, subject to certain restrictions described below, AGM Inc. will consummate, or, in the case of an AOG Transaction (as defined below), permit the consummation of, one of the following transactions: • a transaction whereby AGM Inc. purchases AOG Units from Athene Holding at a price agreed upon, in good faith, by AGM Inc. and 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”). For purposes of this description, “Cash Amount” means (i) in the case of a Registered Sale, the cash proceeds that AGM Inc. receives upon the consummation of a Registered Sale after deducting a capped amount of documented commissions, fees and expenses, (ii) in the case of a Purchase Transaction, the cash proceeds to which AGM Inc. and Athene Holding agree, (iii) in the case of a Private Placement, the cash proceeds that AGM Inc. receives upon the consummation of a Private Placement after deducting a capped amount of documented commissions, fees and expenses and (iv) in the case of an AOG Transaction, the cash proceeds to which the purchaser and Athene Holding agree. Each of the Purchase Transaction, Private Placement, Registered Sale and AOG Transaction are subject to the terms and conditions set forth in the Liquidity Agreement. In the event that an AOG Transaction is consummated, the buyer of such AOG Units will be prohibited from exchanging such AOG Units into AGM Inc. Class A Common Stock for at least 30 days after such purchase. Athene Holding is prohibited from consummating an AOG Transaction with any purchaser (i) who would, after giving effect to such transfer, own more than 3.5% of the issued and outstanding AGM Inc. Class A Common Stock (on a fully-diluted basis) or (ii) who is a “bad actor” (as defined in Regulation D of the Act) or otherwise a prohibited transferee, as described in the Liquidity Agreement. Athene Holding’s liquidity rights are subject to certain other limitations and obligations, including that in a Registered Sale or a Private Placement, AGM Inc. will not be required to sell any AGM Inc. Class A Common Stock at a price that is less than 90% of the volume-weighted average price of the 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. The Liquidity Agreement also provides that Athene Holding is prohibited from transferring its AOG Units other than to an affiliate or pursuant to the options set forth above. AGM Inc. has the right not to consummate a Registered Sale or a Private Placement if the recipient of the Class A Common 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. On February 28, 2020, Apollo and Athene closed on a strategic transaction as discussed above. In connection with the transaction, Apollo purchased a 17% incremental equity stake in Athene at a premium, bringing Apollo’s beneficial ownership in Athene to 28%, or 35% including shares and warrants owned by related parties and employees, on a fully diluted basis. Apollo has entered into a lock-up agreement restricting transfers of Apollo’s existing and newly acquired shares of Athene for three years from the Closing Date. As of September 30, 2020 and December 31, 2019, the Company held a 28.5% and an 11.3% ownership interest in the Class A Common Shares of Athene Holding, respectively. Athora The Company, through 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”). The Company has commitments to make additional equity investments in Athora of $320.5 million as of September 30, 2020, $293.0 million of which is subject to certain conditions. 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. The Company earns a base management fee on the aggregate market value of substantially all of the investment accounts of or relating to Athora and also a sub-advisory fee on the Athora Sub-Advised assets, which varies depending on the specific asset class. The following table presents the revenues earned in aggregate from Athene and Athora: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues earned in aggregate from Athene and Athora, net (1)(2) $ 363,746 $ 141,273 $ (297,924) $ 505,780 (1) Consisting of management fees, sub-advisory fees, performance revenues (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 Athene Holding restricted share awards (“AHL Awards”) granted to employees of Apollo. (2) Gains (losses) on the market value of the shares of Athene Holding owned directly by Apollo were $145.0 million and $(19.2) million for the three months ended September 30, 2020 and 2019, respectively, and $(851.4) million and $42.6 million for the nine months ended September 30, 2020 and 2019, 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, $8.7 million had been advanced by the Company and remained outstanding on the AAA Investments Credit Agreement. As of September 30, 2020, there were no amounts advanced and outstanding on the AAA Investments Credit Agreement and all amounts previously advanced had been repaid. 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. Regulated Entities

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 and December 31, 2019 of $1.0 billion and $1.1 billion, respectively, of which $351.1 million and $394.0 million related to Fund IX. Debt Covenants— Apollo’s debt obligations contain various customary loan covenants. As of September 30, 2020, 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 sought 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, and also awarded 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 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 named any individual defendants, but Apollo Management VI, L.P. and CEVA Group were added as defendants. The amended complaint sought 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, and directing the parties to conduct limited discovery, and submit new briefing, solely with respect to the statute of limitations. On July 30, 2020, Apollo and CEVA filed a joint motion for summary judgment on statute of limitations grounds. Briefing has not yet concluded with respect to Apollo and CEVA’s 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. 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 named 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 alleged 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 alleged 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 asserted 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 sought $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 asserted 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. On June 8, 2020, Harbinger refiled its litigation in New York Supreme Court, captioned Harbinger Capital Partners II, LP et al. v. Apollo Global Management, LLC et al. (No. 652342/2020). The complaint adds eight new defendants: two former SkyTerra executives, one former SkyTerra consultant, and five entities that were Harbinger’s counterparties in a transaction involving TVCC One Six Holdings LLC (“TVCC”). It also adds three new claims relating to Harbinger’s contention that the new defendants induced Harbinger to buy TVCC to support SkyTerra’s network even though they allegedly knew that the network had material defects. On August 11, 2020, state court Justice Peter Sherwood entered the parties’ agreed stipulation staying the litigation until the earlier of (i) November 15, 2020, or (ii) a party sending a termination notice (which can only be sent under certain limited circumstances). 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. 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 alleged 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 were 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 alleged 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 named 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 were 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 was submitted to the state court for approval. On October 19, 2020, the state court entered an order preliminarily approving the settlement, directing notice to shareholders, and scheduling a final-approval hearing for January 12, 2021. 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 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 Delaware Court of Chancery, 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., Pomegranate Holdings, Inc., and other defendants. The amended complaint alleged 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. On June 1, 2020, the Court granted the Apollo-affiliated defendants’ motion to dismiss. On October 21, 2019, a putative class action complaint was filed in the Delaware Court of Chancery 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 and filed supporting memoranda April 30, 2020. Oral argument on defendants’ motions to dismiss was held on October 29, 2020, and the court took the argument and submissions under advisement with a decision to follow. 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 was fully briefed on February 14, 2020. 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. On January 15, 2020, DISH Network L.L.C. (“DISH”) filed a lawsuit in the Circuit Court of Cook County, Illinois against Terrier Media Buyer, Inc. d/b/a Cox Media Group (“CMG”), AGM Inc., NBI Holdings, LLC, Camelot Media Buyer, Inc. and Camelot Media Holdings, LLC., among other defendants. DISH’s lawsuit alleges that the defendants engaged in a series of transactions designed to take control of certain local television broadcast stations in a way that deprived DISH of its contractual right to retransmit to its subscribers the signals of certain of the local broadcast television stations. DISH seeks a declaration that it may continue to retransmit under its prior retransmission agreement, among other relief. On the same day it filed its lawsuit, DISH obtained an ex parte temporary restraining order (“TRO”) that enjoined all defendants (i) from taking any action to interfere with performance of a retransmission agreement concerning certain local television stations, (ii) from prohibiting DISH from retransmitting the signals of those stations, and (iii) from otherwise interfering with DISH’s right to retransmit the signals of those stations. On January 24, 2020, the Circuit Court of Cook County extended the TRO. On the same day, the defendants removed the case to the U.S. District Court for the Northern District of Illinois. DISH subsequently moved to remand the case back to state court, which motion was denied, and for leave to name additional AGM Inc. subsidiaries as defendants, which motion was granted in part and denied in part. The court granted DISH leave to name AP IX Titan Holdings GP, LLC and AP IX (PMC) VoteCo, LLC as defendants in DISH’s amended complaint. On May 1, 2020, DISH filed its first amended complaint, which served as the basis for DISH’s request for a preliminary injunction. On July 20, 2020, the court denied DISH’s motion for a preliminary injunction and dissolved the TRO on July 22, 2020. On July 21, 2020, the court denied DISH’s request to stay dissolution of the TRO, and that order was affirmed by the United States Court of Appeals for the Seventh Circuit on July 22, 2020. DISH’s appeal of the district court’s decision denying its request for a preliminary injunction remains pending. DISH filed its opening brief on appeal on September 8, 2020. The defendants filed their response brief on October 22, 2020. While the appeal of the preliminary injunction decision remains pending, proceedings in the district court are continuing. On October 14, 2020, DISH filed a second amended complaint against CMG, AGM Inc., NBI Holdings, LLC, Camelot Media Buyer, Inc., Camelot Media Holdings, LLC and Northwest Broadcasting, Inc. The second amended complaint does not name any other defendant. 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. In March 2020, Frank Funds, which claims to be a former shareholder of MPM Holdings, Inc. (“MPM”), commenced an action in the Delaware Court of Chancery, captioned Frank Funds v. Apollo Global Management, Inc., et al. , C.A. No. 2020-0130, against AGM Inc., certain former MPM directors (including three Apollo officers and employees), and members of the consortium that acquired MPM in a May 2019 merger. The complaint asserts, on behalf of a putative class of former MPM shareholders, a claim against Apollo for breach of its fiduciary duties as MPM’s alleged controlling shareholder in connection with the May 2019 merger in which a consortium acquired MPM. Frank Funds seeks unspecified compensatory damages. Apollo believes the claims in this action are without merit. On July 1, 2020, Apollo moved to dismiss the complaint; briefing on that motion has not yet begun. Because this action is in the early stages, no reasonable estimate of possible loss, if any, can be made at this time. On March 12, 2020, AGM Inc. and several investment funds managed by subsidiaries of AGM Inc. (the “Apollo Funds”) were added as defendants in a class action filed by plaintiff Zachary Blair on December 7, 2017, in the Superior Court of California. Plaintiff alleges he is a former employee of Classic Party Rentals, a party equipment rental company previously owned by the Apollo Funds. Plaintiff alleges that Classic Party Rentals failed to comply with California wage and hour and related laws, and also has asserted claims based on various provisions of the California labor code and California’s unfair competition laws. On October 11, 2019, the court certified a class of current and former non-exempt drivers, assistant drivers, and organizer employees of Classic Party Rentals who were paid on an hourly basis and who worked at Classic Party Rentals in California at any time from December 7, 2013, through the date of the class certification order. After being served with the complaint in July 2020, AGM Inc. filed a motion to dismiss all claims against it. That motion remains pending. 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 May 29, 2020, plaintiff Vrajeshkumar Patel filed a putative stockholder derivative and class action complaint in the Delaware Court of Chancery against Talos Energy, Inc. (“Talos”), all of the members of Talos’s board of directors (including two Apollo partners), Riverstone Holdings, LLC (“Riverstone”), AGM Inc., and Guggenheim Securities, LLC in connection with the acquisition of certain assets from Castex Energy 2014, LLC and ILX Holdings, LLC in February 2020. The complaint asserts, on behalf of a putative class of shareholders and Talos, direct and derivative claims against Apollo, Riverstone, and the individual defendants for breach of their fiduciary duties. The plaintiff alleges that Apollo and Riverstone comprise a controlling shareholder group. The complaint seeks, among other relief, class certification and unspecified money damages. On August 4, 2020, the defendants filed motions to dismiss the complaint in its entirety. 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 June 3, 2020, a group of former MPM shareholders seeking appraisal of their MPM shares in a consolidated appraisal proceeding, In re Appraisal of MPM Holdings, Inc. , C.A. No. 2019-0519 (Del. Ch.), moved for leave to file a verified amended appraisal petition and class-action complaint. In that motion, the petitioners stated that they seek leave to assert claims for breach of fiduciary duty and/or aiding and abetting breaches of fiduciary duty against AGM Inc., an affiliated Apollo fund, certain former MPM directors (including three Apollo officers and employees), and members of the consortium that acquired MPM, based on alleged actions related to the May 2019 merger. The petitioners also seek to consolidate their appraisal proceeding with the Frank Funds action, and notified the Delaware Chancery Court via letter on September 23, 2020, that they had reached an agreement in principle with Frank Funds to consolidate the two cases. The Delaware Court of Chancery has not yet ruled on the 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. On August 4, 2020, a putative class action complaint was filed in the United States District Court for the District of Nevada against PlayAGS Inc. (“PlayAGS”), all of the members of PlayAGS’s board of directors (including three directors who are affiliated with Apollo), certain underwriters of AGS (including Apollo Global Securities, LLC), as well as AGM Inc., Apollo Investment Fund VIII, L.P., Apollo Gaming Holdings, L.P., and Apollo Gaming Voteco, LLC (these last four parties, together, the “Apollo Defendants”). The complaint asserts claims arising under the Securities Act of 1933 in connection with certain secondary offerings of PlayAGS stock conducted in August 2018 and March 2019, alleging that the registration statements issued in connection with those offerings did not fully disclose certain business challenges facing PlayAGS. Such claims are asserted against all defendants, including Apollo Global Securities, LLC and the Apollo Defendants, as well as all directors (including the directors affiliated with Apollo). The complaint further asserts a control person claim under Section 20(a) of the Securities Exchange Act of 1934 against the Apollo Defendants and the director defendants (including the directors affiliated with Apollo), alleging that the Apollo Defendants and the director defendants were responsible for certain misstatements and omissions by PlayAGS about its business during a putative class period from May 3, 2018 through August 7, 2019. 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 September 30, 2020, fixed and determinable payments due in connection with these obligations were as follows: Remaining 2020 2021 2022 2023 2024 Thereafter Total Other long-term obligations $ 9,347 $ 9,908 $ 1,947 $ 703 $ 703 $ — $ 22,608 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 September 30, 2020 and that would be reversed approximates $2.0 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 condensed 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 of related parties of Apollo, including portfolio companies of the funds Apollo manages, as well as third parties. As of September 30, 2020 and December 31, 2019, there were no open 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 condensed consolidated statements of financial condition. The fair value of the remaining contingent obligation was $103.3 million and $112.5 million as of September 30, 2020 and December 31, 2019, 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 condensed consolidated statements of operations. See note 7 for further information regarding fair value measurements.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2020
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 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 that participate in dividends. 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, and restructuring charges. 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 condensed consolidated financial statements. 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 related to business development companies, Redding Ridge Holdings LP (“Redding Ridge Holdings”), an affiliate of Redding Ridge, and MidCap 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 Three Months Ended September 30, 2020 Credit Private Equity Real Assets Total Reportable Management fees $ 246,159 $ 128,446 $ 51,847 426,452 Advisory and transaction fees, net 51,376 20,108 878 72,362 Performance fees (1) 2,204 — — 2,204 Fee Related Revenues 299,739 148,554 52,725 501,018 Salary, bonus and benefits (61,975) (53,451) (29,513) (144,939) General, administrative and other (40,367) (25,099) (11,869) (77,335) Placement fees (425) (188) — (613) Fee Related Expenses (102,767) (78,738) (41,382) (222,887) Other income (loss), net of Non-Controlling Interest (780) 23 59 (698) Fee Related Earnings 196,192 69,839 11,402 277,433 Realized performance fees 7,614 2,025 7,806 17,445 Realized profit sharing expense (7,614) (2,025) (7,806) (17,445) Net Realized Performance Fees — — — — Realized principal investment income, net (2) 928 1,598 356 2,882 Net interest loss and other (14,010) (14,580) (6,216) (34,806) Segment Distributable Earnings (3) $ 183,110 $ 56,857 $ 5,542 $ 245,509 Total Assets (3) $ 4,314,160 $ 2,873,066 $ 833,780 $ 8,021,006 (1) Represents certain performance fees related to business development companies, Redding Ridge Holdings and MidCap. (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. For the Three Months Ended September 30, 2019 Credit Private Equity Real Assets Total Reportable Management fees $ 198,867 $ 131,643 $ 47,862 $ 378,372 Advisory and transaction fees, net 5,530 10,655 377 16,562 Performance fees (1) 6,449 — — 6,449 Fee Related Revenues 210,846 142,298 48,239 401,383 Salary, bonus and benefits (51,746) (45,807) (19,306) (116,859) General, administrative and other (33,403) (26,603) (10,734) (70,740) Placement fees (190) (65) (1) (256) Fee Related Expenses (85,339) (72,475) (30,041) (187,855) Other loss, net of Non-Controlling Interest (597) (135) (6) (738) Fee Related Earnings 124,910 69,688 18,192 212,790 Realized performance fees 3,530 63,742 162 67,434 Realized profit sharing expense (1,674) (22,084) (65) (23,823) Net Realized Performance Fees 1,856 41,658 97 43,611 Realized principal investment income, net (2) 5,845 8,114 415 14,374 Net interest loss and other (6,106) (8,911) (3,234) (18,251) Segment Distributable Earnings (3) $ 126,505 $ 110,549 $ 15,470 $ 252,524 (1) Represents certain performance fees related to business development companies, Redding Ridge Holdings and MidCap. (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 and other income (loss) for Apollo’s total reportable segments to total consolidated revenues, total consolidated expenses and total consolidated other income (loss) and total assets. The following table reconciles total consolidated revenues to total revenues for Apollo’s reportable segments: For the Three Months Ended September 30, 2020 2019 Total Consolidated Revenues $ 1,018,274 $ 702,721 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (27,479) (19,990) Adjustments related to consolidated funds and VIEs (1) 22,084 4,079 Performance fees (2) (457,754) (250,642) Principal investment income (54,107) (34,785) Total Fee Related Revenues 501,018 401,383 Realized performance fees 17,445 67,434 Realized principal investment income, net and other 1,198 13,532 Total Segment Revenues $ 519,661 $ 482,349 (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 related to business development companies, Redding Ridge Holdings and MidCap. The following table reconciles total consolidated expenses to total expenses for Apollo’s reportable segments: For the Three Months Ended September 30, 2020 2019 Total Consolidated Expenses $ 531,055 $ 371,372 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (26,339) (20,563) Reclassification of interest expenses (34,889) (27,833) Transaction-related charges, net (1) (10,835) (5,201) Charges associated with corporate conversion (2) (2,829) (6,994) Equity-based compensation (17,962) (15,802) Total profit sharing expense (3) (213,494) (107,124) Dividend-related compensation expense (1,820) — Total Fee Related Expenses 222,887 187,855 Realized profit sharing expense 17,445 23,823 Total Segment Expenses $ 240,332 $ 211,678 (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, and restructuring charges. (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. The following table reconciles total consolidated other income (loss) to total other loss for Apollo’s reportable segments: For the Three Months Ended September 30, 2020 2019 Total Consolidated Other Income (Loss) $ 278,237 $ (42,151) Adjustments related to consolidated funds and VIEs (1) (121,425) (10,338) Loss from change in tax receivable agreement liability — 38,575 Net (gains) losses from investment activities (144,839) 19,783 Interest income and other, net of Non-Controlling Interest (12,671) (6,607) Other Loss, net of Non-Controlling Interest (698) (738) Net interest loss and other (33,122) (17,409) Total Segment Other Loss $ (33,820) $ (18,147) (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 condensed consolidated statements of operations to Segment Distributable Earnings: For the Three Months Ended September 30, 2020 2019 Income before income tax provision $ 765,456 $ 289,198 Transaction-related charges (1) 10,835 5,201 Charges associated with corporate conversion (2) 2,829 6,994 Loss from change in tax receivable agreement liability — 38,575 Net income attributable to Non-Controlling Interests in consolidated entities (100,021) (7,083) Unrealized performance fees (440,310) (183,208) Unrealized profit sharing expense 168,368 61,098 Equity-based profit sharing expense and other (3) 27,681 22,203 Equity-based compensation 17,962 15,802 Unrealized principal investment income (49,406) (20,411) Unrealized net (gains) losses from investment activities and other (157,885) 24,155 Segment Distributable Earnings $ 245,509 $ 252,524 (1) Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions, and restructuring charges. (2) Represents expenses incurred in relation to the Conversion, as described in note 1. (3) 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. As of and for the Nine Months Ended September 30, 2020 Credit Private Equity Real Assets Total Reportable Management fees $ 679,109 $ 381,306 $ 150,227 1,210,642 Advisory and transaction fees, net 80,399 85,253 5,191 170,843 Performance fees (1) 8,048 — — 8,048 Fee Related Revenues 767,556 466,559 155,418 1,389,533 Salary, bonus and benefits (171,789) (149,133) (83,037) (403,959) General, administrative and other (112,991) (68,863) (35,637) (217,491) Placement fees (1,089) (295) — (1,384) Fee Related Expenses (285,869) (218,291) (118,674) (622,834) Other income (loss), net of Non-Controlling Interest (2,167) 48 154 (1,965) Fee Related Earnings 479,520 248,316 36,898 764,734 Realized performance fees 37,834 6,717 49,477 94,028 Realized profit sharing expense (37,530) (7,021) (49,477) (94,028) Net Realized Performance Fees 304 (304) — — Realized principal investment income, net (2) 4,112 5,544 4,028 13,684 Net interest loss and other (42,981) (41,940) (16,069) (100,990) Segment Distributable Earnings (3) $ 440,955 $ 211,616 $ 24,857 $ 677,428 Total Assets (3) $ 4,314,160 $ 2,873,066 $ 833,780 $ 8,021,006 (1) Represents certain performance fees related to business development companies, Redding Ridge Holdings and MidCap. (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. For the Nine Months Ended September 30, 2019 Credit Private Equity Real Assets Total Reportable Management fees $ 571,884 $ 391,777 $ 139,645 $ 1,103,306 Advisory and transaction fees, net 13,888 47,048 5,748 66,684 Performance fees (1) 16,371 — — 16,371 Fee Related Revenues 602,143 438,825 145,393 1,186,361 Salary, bonus and benefits (146,515) (129,307) (57,031) (332,853) General, administrative and other (92,546) (75,427) (28,956) (196,929) Placement fees (42) (548) (1) (591) Fee Related Expenses (239,103) (205,282) (85,988) (530,373) Other income, net of Non-Controlling Interest 967 4,024 88 5,079 Fee Related Earnings 364,007 237,567 59,493 661,067 Realized performance fees 24,887 136,429 3,242 164,558 Realized profit sharing expense (13,069) (63,900) (1,299) (78,268) Net Realized Performance Fees 11,818 72,529 1,943 86,290 Realized principal investment income, net (2) 16,803 18,079 2,209 37,091 Net interest loss and other (15,148) (22,694) (8,115) (45,957) Segment Distributable Earnings (3) $ 377,480 $ 305,481 $ 55,530 $ 738,491 (1) Represents certain performance fees related to business development companies, Redding Ridge Holdings and MidCap. (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. The following table reconciles total consolidated revenues to total revenues for Apollo’s reportable segments: For the Nine Months Ended September 30, 2020 2019 Total Consolidated Revenues $ 1,057,523 $ 2,017,077 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (88,167) (72,966) Adjustments related to consolidated funds and VIEs (1) 36,798 5,801 Performance fees (2) 358,188 (661,828) Principal investment (income) loss 25,191 (101,723) Total Fee Related Revenues 1,389,533 1,186,361 Realized performance fees 94,028 164,558 Realized principal investment income, net and other 10,315 34,564 Total Segment Revenues $ 1,493,876 $ 1,385,483 (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 related to business development companies, Redding Ridge Holdings and MidCap. The following table reconciles total consolidated expenses to total expenses for Apollo’s reportable segments: For the Nine Months Ended September 30, 2020 2019 Total Consolidated Expenses $ 905,398 $ 1,091,914 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (80,212) (73,270) Reclassification of interest expenses (98,422) (70,243) Transaction-related charges, net (1) (21,546) (28,799) Charges associated with corporate conversion (2) (3,893) (17,000) Equity-based compensation (49,779) (52,462) Total profit sharing expense (3) (22,532) (319,767) Dividend-related compensation expense (6,180) — Total Fee Related Expenses 622,834 530,373 Realized profit sharing expense 94,028 78,268 Total Segment Expenses $ 716,862 $ 608,641 (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, and restructuring charges. (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. The following table reconciles total consolidated other income (loss) to total other loss for Apollo’s reportable segments: For the Nine Months Ended September 30, 2020 2019 Total Consolidated Other Income (Loss) $ (826,957) $ 58,314 Adjustments related to consolidated funds and VIEs (1) (11,157) (23,839) Loss from change in tax receivable agreement liability — 38,575 Net (gains) losses from investment activities 849,293 (44,095) Interest income and other, net of Non-Controlling Interest (13,144) (23,876) Other Income (Loss), net of Non-Controlling Interest (1,965) 5,079 Net interest loss and other (97,621) (43,430) Total Segment Other Loss $ (99,586) $ (38,351) (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 condensed consolidated statements of operations to Segment Distributable Earnings: For the Nine Months Ended September 30, 2020 2019 Income (Loss) before income tax (provision) benefit $ (674,832) $ 983,477 Transaction-related charges (1) 21,546 28,799 Charges associated with corporate conversion (2) 3,893 17,000 Loss from change in tax receivable agreement liability — 38,575 Net (income) loss attributable to Non-Controlling Interests in consolidated entities 23,320 (20,888) Unrealized performance fees 452,215 (497,270) Unrealized profit sharing expense (172,128) 177,659 Equity-based profit sharing expense and other (3) 100,632 63,840 Equity-based compensation 49,779 52,462 Unrealized principal investment (income) loss 45,054 (64,632) Unrealized net (gains) losses from investment activities and other 827,949 (40,531) Segment Distributable Earnings $ 677,428 $ 738,491 (1) Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions, and restructuring charges. (2) Represents expenses incurred in relation to the Conversion, as described in note 1. (3) 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 $ 8,021,006 $ 7,337,517 Adjustments (1) 10,606,864 1,204,600 Total assets $ 18,627,870 $ 8,542,117 (1) Represents the addition of assets of consolidated funds and VIEs and consolidation elimination adjustments.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Dividends On October 29, 2020, the Company declared a cash dividend of $0.51 per share of Class A Common Stock, which will be paid on November 30, 2020 to holders of record at the close of business on November 20, 2020. On October 29, 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 December 15, 2020 to holders of record at the close of business on November 30, 2020.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Organization of the Company	Organization of the Company Effective September 5, 2019, AGM 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 September 30, 2020, the Company owned, through six intermediate holding companies, 52.9% 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.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and instructions to the Quarterly Report on Form 10-Q. The condensed consolidated financial statements and these notes are unaudited and exclude some of the disclosures required in annual financial statements. Management believes it has made all necessary adjustments (consisting only of normal recurring items) so that the condensed consolidated financial statements are presented fairly and that estimates made in preparing its condensed consolidated financial statements are reasonable and prudent. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. These condensed consolidated financial statements should be read in conjunction with the annual financial statements included in the 2019 Annual Report. The condensed 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’ condensed 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. 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 condensed 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 condensed consolidated statements of operations. The portion attributable to Non-Controlling Interests is reported within net income attributable to Non-Controlling Interests in the condensed 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 condensed consolidated statements of operations. The carrying values of the money market funds and U.S. Treasury securities were $1.5 billion and $253.5 million as of September 30, 2020 and December 31, 2019, 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 valueU.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 condensed 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 condensed 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 external 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 (loss) in the condensed consolidated statements of operations. The carrying amounts of equity method investments are recorded in investments in the condensed 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 condensed consolidated financial statements using the fair value of the financial assets or financial liabilities of the consolidated CLOs, whichever are more observable. Where financial assets are more observable, 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 nonfinancial 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. Where financial liabilities are more observable, the financial liabilities of the consolidated CLOs are measured at fair value and the financial assets are measured in consolidation as: (i) the sum of the fair value of the financial liabilities, and the carrying value of any nonfinancial liabilities that are incidental to the operations of the CLOs less (ii) the carrying value of any nonfinancial assets that are incidental to the operations of the CLOs. The resulting amount is allocated to the individual financial assets 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. Certain consolidated VIEs have applied the fair value option for certain investments in private debt securities that otherwise would not have been carried at fair value with gains and losses in net income.
Deferred Revenue and Revenues	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 condensed 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 condensed 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 condensed 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 $78.7 million of revenue recognized during the nine months ended September 30, 2020 that was previously deferred as of January 1, 2020. 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. 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.
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 condensed 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 condensed 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. The Company recognizes performance allocations within investment income along with the related principal investment income (as described further below) in the condensed consolidated statements of operations and within the investments line in the condensed consolidated statements of financial condition. When applicable, the Company may record a general partner obligation to return previously distributed performance allocations. The general partner obligation is based upon an assumed liquidation of a fund’s net assets as of the reporting date and is reported within due to related parties. 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. Principal Investment Income
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.
Salaries, Bonus and Benefits and 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. 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 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 condensed 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 condensed 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 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. 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 condensed consolidated statements of operations as profit sharing expense.
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 OtherGeneral, administrative and other primarily includes professional fees, occupancy, depreciation and amortization, travel, information technology and administration 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 resolution 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 condensed 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 Managing Partners and Contributing Partners through their limited partner interests in Holdings. Additionally, Athene holds Non-Controlling Interests in the Apollo Operating Group as a result of the Transaction Agreement. Non-Controlling Interests also include ownership interests in certain consolidated funds and VIEs. Non-Controlling Interests are presented as a separate component of stockholders’ equity on the Company’s condensed 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 condensed consolidated statements of operations. Profits and losses are allocated to Non-Controlling Interests in proportion to their relative ownership interests regardless of their basis.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial
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 did not have a material impact on the condensed consolidated financial statements of the Company. In January 2017, the FASB issued guidance intended to simplify the test for goodwill impairment. The guidance removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment (Step 2). Under the 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 did not have a material impact on the condensed consolidated financial statements of the Company. In August 2018, the FASB issued guidance which changes the fair value disclosure requirements. The guidance includes new fair value disclosure requirements and eliminates and modifies certain other fair value disclosure requirements. The Company previously early adopted the eliminated and modified disclosure requirements upon issuance of the guidance during the three month period ended September 30, 2018. The remaining guidance was adopted by the Company on January 1, 2020 and did not have a material impact on the condensed consolidated financial statements of the Company.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
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 $ 1,884,388 $ 1,053,556 Equity method investments 964,521 1,048,732 Performance allocations 1,128,160 1,507,571 Total Investments $ 3,977,069 $ 3,609,859
Summary of Equity Method Investments	For the three and nine months ended September 30, 2020, the Company’s investment in Athene Holding, for which the fair value option was elected, met the significance criteria as defined by the SEC. As a result, the following table presents summarized financial information of Athene Holding: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Statements of Operations Revenues $ 3,275 $ 4,584 $ 6,124 13,002 Benefits and expenses 2,251 4,305 5,401 11,233 Income before income taxes 1,024 279 723 1,769 Income tax expense (benefit) 140 (14) 124 $ 48 Net income 884 $ 293 599 1,721 Net income attributable to noncontrolling interests 232 — 151 — Net income available to Athene shareholders $ 652 293 $ 448 1,721 Preferred stock dividends 30 17 67 17 Net income available to Athene common shareholders $ 622 276 $ 381 $ 1,704 Equity method investments consisted of the following: Equity Held as of September 30, 2020 (4) December 31, 2019 (4) Credit (1) $ 247,775 $ 318,054 Private Equity (2) 624,395 632,540 Real Assets 92,351 98,138 Total equity method investments (3) $ 964,521 $ 1,048,732 (1) The equity method investment in AINV was $40.0 million and $51.0 million as of September 30, 2020 and December 31, 2019, respectively. The value of the Company’s investment in AINV was $24.0 million and $51.3 million based on the quoted market price of AINV as of September 30, 2020 and December 31, 2019, respectively. (2) The equity method investment in Fund VIII was $326.6 million and $370.7 million as of September 30, 2020 and December 31, 2019, respectively, representing an ownership percentage of 2.2% and 2.2% as of September 30, 2020 and December 31, 2019, 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.
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 Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Realized gains on sales of investments, net $ 155 $ — $ 2,031 $ 45 Net change in unrealized gains (losses) due to changes in fair value 144,317 (19,790) (853,443) 44,054 Net gains (losses) from investment activities $ 144,472 $ (19,790) $ (851,412) $ 44,099
Summary of Performance Allocation	Performance allocations receivable recorded within investments in the condensed consolidated statements of financial condition from credit, private equity and real assets funds consisted of the following: As of September 30, 2020 As of December 31, 2019 Credit $ 375,305 $ 418,517 Private Equity 610,269 822,531 Real Assets 142,586 266,523 Total performance allocations $ 1,128,160 $ 1,507,571 The table below provides a roll forward of the performance allocations balance: Credit Private Equity Real Assets Total Performance allocations, January 1, 2020 $ 418,517 $ 822,531 $ 266,523 $ 1,507,571 Change in fair value of funds 119,555 (203,558) (74,460) (158,463) Fund distributions to the Company (162,767) (8,704) (49,477) (220,948) Performance allocations, September 30, 2020 $ 375,305 $ 610,269 $ 142,586 $ 1,128,160

PROFIT SHARING PAYABLE (Tables)

PROFIT SHARING PAYABLE (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 As of December 31, 2019 Credit $ 324,000 $ 314,125 Private Equity 243,362 329,817 Real Assets 99,372 114,727 Total profit sharing payable $ 666,734 $ 758,669
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, 2020 $ 314,125 $ 329,817 $ 114,727 $ 758,669 Profit sharing expense 90,284 (76,406) 2,088 15,966 Payments/other (80,409) (10,049) (17,443) (107,901) Profit sharing payable, September 30, 2020 $ 324,000 $ 243,362 $ 99,372 $ 666,734

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2020
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 Three Months Ended For the Nine Months Ended 2020 (1) 2019 (1) 2020 (1) 2019 (1) Net gains (losses) from investment activities $ 142,247 $ 14,892 $ (358,497) $ 38,679 Net gains (losses) from debt 24,249 (5,217) 205,518 (16,287) Interest and other income 81,663 7,357 317,714 20,772 Interest and other expenses (126,040) (6,401) (150,674) (18,436) Net gains from investment activities of consolidated variable interest entities $ 122,119 $ 10,631 $ 14,061 $ 24,728 (1) Amounts reflect consolidation eliminations.
Principal Provisions of Debt	The following table summarizes the principal provisions of those amounts: As of September 30, 2020 As of December 31, 2019 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) $ 5,172,758 2.95 % 6.0 $ 757,628 1.56 % 10.2 Subordinated Notes (2) 606,721 N/A (1) 22.2 93,572 N/A (1) 20.4 Secured Borrowings (2)(3) 265,744 2.16 % 0.4 18,976 3.69 % 7.8 Total $ 6,045,223 $ 870,176 (1) The subordinated notes do not have contractual interest rates but instead receive distributions from the excess cash flows of the VIEs. (2) The notes and borrowings of the consolidated VIEs are collateralized by assets held by each respective vehicle and assets of one vehicle may not be used to satisfy the liabilities of another vehicle. As of September 30, 2020 and December 31, 2019, the fair value of these consolidated VIEs’ assets were $6.2 billion and $1.3 billion, respectively. (3) As of September 30, 2020 and December 31, 2019, secured borrowings consist of consolidated VIEs’ obligations through a repurchase agreement redeemable at maturity with third party lenders. The fair value of the secured borrowings as of September 30, 2020 approximates principal outstanding due to the short term nature of the borrowings. These secured borrowings are classified as a Level
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 $ 351,302 $ 222,481 Investments 4,352,789 5,418,295 Receivables 41,636 137,165 Total Assets $ 4,745,727 $ 5,777,941 Liabilities: Debt and other payables $ 1,318,305 $ 3,449,227 Total Liabilities $ 1,318,305 $ 3,449,227 Apollo Exposure (1) $ 154,248 $ 250,521 (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)	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 Level I Level II Level III Total Cost Assets U.S. Treasury securities, at fair value $ 1,164,867 $ — $ — $ 1,164,867 $ 1,164,802 Investments, at fair value: Investment in Athene Holding — 1,548,414 — 1,548,414 2,093,426 Other investments — 45,011 290,963 (1) 335,974 299,920 Total investments, at fair value — 1,593,425 290,963 1,884,388 2,393,346 Investments of VIEs, at fair value — 2,017,654 7,831,721 9,849,375 Investments of VIEs, valued using NAV — — — 51,218 Total investments of VIEs, at fair value — 2,017,654 7,831,721 9,900,593 Derivative assets (2) — 123 — 123 Total Assets $ 1,164,867 $ 3,611,202 $ 8,122,684 $ 12,949,971 Liabilities Debt of VIEs, at fair value $ — $ 1,504,205 $ 4,142,679 $ 5,646,884 Other liabilities of VIEs, at fair value — — 23,025 23,025 Contingent consideration obligations (3) — — 103,273 103,273 Derivative liabilities (2) — 89 — 89 Total Liabilities $ — $ 1,504,294 $ 4,268,977 $ 5,773,271 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 (1) Other investments as of September 30, 2020 and December 31, 2019 excludes $27.4 million and $25.8 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 condensed consolidated statements of financial condition.
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 Three Months Ended September 30, 2020 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 267,353 $ 8,015,580 $ 8,282,933 Purchases 18,507 95,943 114,450 Sales of investments/distributions (12,477) (185,327) (197,804) Settlements — (196,746) (196,746) Net realized gains — (328) (328) Changes in net unrealized gains 6,700 74,291 80,991 Cumulative translation adjustment 10,239 27,366 37,605 Transfer into Level III (1) 641 8,829 9,470 Transfer out of Level III (1) — (7,887) (7,887) Balance, End of Period $ 290,963 $ 7,831,721 $ 8,122,684 Change in net unrealized gains included in net gains from investment activities related to investments still held at reporting date $ 6,700 $ — $ 6,700 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — (57,888) (57,888) For the Three Months Ended September 30, 2019 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 114,439 $ 301,066 $ 415,505 Sale of investments/distributions (932) — (932) Changes in net unrealized gains 1,484 10,006 11,490 Cumulative translation adjustment (4,054) (12,667) (16,721) Transfer into Level III (1) 1,693 — 1,693 Balance, End of Period $ 112,630 $ 298,405 $ 411,035 Change in net unrealized gains included in net gains from investment activities related to investments still held at reporting date $ 1,484 $ — $ 1,484 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 10,005 10,005 For the Nine Months Ended September 30, 2020 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 113,410 $ 321,069 $ 434,479 Transfer in due to consolidation — 7,794,128 7,794,128 Purchases 178,462 955,523 1,133,985 Sale of investments/distributions (21,855) (369,204) (391,059) Settlements — (634,694) (634,694) Net realized gains (losses) 1,751 (207) 1,544 Changes in net unrealized gains (losses) 5,519 (260,265) (254,746) Cumulative translation adjustment 13,309 23,582 36,891 Transfer into Level III (1) 641 79,465 80,106 Transfer out of Level III (1) (274) (77,676) (77,950) Balance, End of Period $ 290,963 $ 7,831,721 $ 8,122,684 Change in net unrealized gains included in principal investment income related to investments still held at reporting date $ 5,519 $ — $ 5,519 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — (105,191) (105,191) For the Nine Months Ended September 30, 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 (2,810) — (2,810) Changes in net unrealized gains 8,057 21,178 29,235 Cumulative translation adjustment (4,799) (14,644) (19,443) Transfer into Level III (1) 1,693 — 1,693 Transfer out of Level III (1) (929) (4,116) (5,045) Balance, End of Period $ 112,630 $ 298,405 $ 411,035 Change in net unrealized gains included in principal investment income related to investments still held at reporting date $ 8,057 $ — $ 8,057 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 21,178 21,178 (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 external 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 Three Months Ended September 30, 2020 2019 Contingent Consideration Obligations Debt and Other Liabilities of Consolidated VIEs Total Contingent Consideration Obligations Balance, Beginning of Period $ 99,097 $ 4,258,747 $ 4,357,844 $ 93,223 Issuances — 24,690 24,690 — Repayments — (42,025) (42,025) (512) Net realized gains — (1,245) (1,245) — Changes in net unrealized (gains) losses (1) 4,176 (97,736) (93,560) 3,689 Cumulative translation adjustment — 23,273 23,273 — Balance, End of Period $ 103,273 $ 4,165,704 $ 4,268,977 $ 96,400 For the Nine Months Ended September 30, 2020 2019 Contingent Consideration Obligations Debt and Other Liabilities of Consolidated VIEs Total Contingent Consideration Obligations Balance, Beginning of Period $ 112,514 $ — $ 112,514 $ 74,487 Transfer in due to consolidation — 4,291,286 4,291,286 — Issuances — 327,618 327,618 — Repayments (12,870) (240,775) (253,645) (1,827) Net realized gains — 2,214 2,214 Changes in net unrealized (gains) losses (1) 3,629 (239,779) (236,150) 23,740 Cumulative translation adjustment — 25,140 25,140 — Balance, End of Period $ 103,273 $ 4,165,704 $ 4,268,977 $ 96,400 (1) Changes in fair value of contingent consideration obligations are recorded in profit sharing expense in the condensed 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 September 30, 2020 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average (1) Financial Assets Other investments $ 213,602 Embedded value N/A N/A N/A 69,395 Discounted cash flow Discount rate 18.0% 18.0% 7,966 Third party pricing N/A N/A N/A Investments of consolidated VIEs: Bank Loans 3,455,160 Discounted cash flow Discount rate 2.8% - 17.6% 4.8% Guideline public company TEV / EBITDA 1.3x - 16.8x 10.4x Guideline public company TEV / Revenue 1.4x 1.4x Third party pricing N/A N/A N/A Profit Participating Notes 2,546,845 Discounted cash flow Discount rate 7.5% - 15.0% 14.7% Equity Securities 1,349,575 Discounted cash flow Discount rate 4.4% - 23.0% 7.0% Dividend discount model Discount rate 9.0% - 13.5% 10.7% Adjusted transaction value Purchase multiple 1.12x 1.12x Guideline public company Discount rate 14.0% 14.0% Market comparable companies NTAV multiple 0.34x -1.2x 0.9x Market comparable companies P/E multiple 7.7x 7.7x Real Estate 382,895 Discounted cash flow Discount rate 6.3% - 13.5% 8.3% Discounted cash flow Capitalization rate 5.8% - 8.3% 6.9% Direct capitalization Capitalization rate 5.5% - 8.8% 6.6% Bonds 50,800 Discounted cash flow Discount rate 5.0% - 12.6% 6.7% CLO Notes 41,229 Third party pricing N/A N/A N/A Other Equity Investments 3,289 Discounted cash flow Discount rate 4.4% - 8.2% 6.7% Warrants 1,928 Option model Volatility 49.0% - 62.5% 52.8% Total Investments of Consolidated VIEs 7,831,721 Total Financial Assets $ 8,122,684 Financial Liabilities Liabilities of Consolidated VIEs: Secured loans $ 3,587,956 Discounted cash flow Discount rate 2.0% - 11.2% 3.4% Subordinated notes 340,999 Discounted cash flow Discount rate 9.0% - 16.0% 14.7% Preferred equity 213,724 Discounted cash flow Discount rate 15.0% 15.0% Other liabilities 23,025 Discounted cash flow Discount rate 3.5% - 7.5% 5.5% Transactional value Cost N/A N/A Third party pricing N/A N/A N/A Guideline public company TEV / LTM EBITDA 5.3x 5.3x Total liabilities of Consolidated VIEs: 4,165,704 Contingent Consideration Obligation $ 103,273 Discounted cash flow Discount rate 17.0% 17.0% Total Financial Liabilities $ 4,268,977 As of December 31, 2019 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average (1) 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 N/A Not applicable EBITDA Earnings before interest, taxes, depreciation and amortization LTM Last twelve months NTAV Net tangible asset value P/E Price-to-Earnings TEV Total enterprise value (1) Unobservable inputs were weighted based on the fair value of the investments included in the range.

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	9 Months Ended
	Sep. 30, 2020
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 $ 180,793 $ 138,359 Less: Accumulated depreciation and amortization (108,044) (96,347) Fixed assets, net 72,749 42,012 Deferred equity-based compensation (1) 85,967 132,422 Prepaid expenses 44,178 55,189 Intangible assets, net 25,161 20,615 Tax receivables 57,064 48,106 Other 33,605 28,105 Total Other Assets $ 318,724 $ 326,449 (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 $57.5 million and $112.4 million, as of September 30, 2020 and December 31, 2019, respectively, is included in other liabilities on the condensed consolidated statements of financial condition.

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Lease Expense, Supplemental Cash Flow Information and Maturities of Lease Liabilities	The table below presents operating lease expenses: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease cost $ 9,587 $ 11,249 $ 35,566 $ 30,537 The following table presents supplemental cash flow information related to operating leases: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Operating cash flows for operating leases $ 5,404 $ 582 $ 19,360 $ 20,212 Supplemental information related to leases is as follows: As of As of Weighted average remaining lease term (in years) 13.7 12.5 Weighted average discount rate 3.1 % 1.6 %
Lease Payments by Maturity	As of September 30, 2020, the Company’s total lease payments by maturity are presented in the following table: Operating Lease Payments Remaining 2020 $ 5,915 2021 36,959 2022 36,168 2023 33,578 2024 31,030 Thereafter 270,469 Total lease payments $ 414,119 Less imputed interest (77,350) Present value of lease payments $ 336,769 As of December 31, 2019, the approximate aggregate minimum future payments required for operating leases under U.S. GAAP applicable to that period were as follows: 2020 2021 2022 2023 2024 Thereafter Total Aggregate minimum future payments $ 28,094 $ 40,516 $ 51,184 $ 49,383 $ 47,237 $ 467,698 $ 684,112

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
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 Increase in Deferred Tax Asset Increase in Tax Receivable Agreement Liability Increase to Additional Paid In Capital For the Nine Months Ended September 30, 2020 $ 76,580 $ 62,531 $ 14,049 For the Nine Months Ended September 30, 2019 $ 168,058 $ 39,092 $ 16,658

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of Debt	Debt consisted of the following: As of September 30, 2020 As of December 31, 2019 Outstanding Fair Value Annualized Outstanding Fair Value Annualized 2024 Senior Notes (1) $ 497,654 $ 552,105 (4) 4.00 % $ 497,164 $ 529,333 (4) 4.00 % 2026 Senior Notes (1) 497,089 575,491 (4) 4.40 496,704 540,713 (4) 4.40 2029 Senior Notes (1) 674,749 792,870 (4) 4.87 674,727 761,780 (4) 4.87 2030 Senior Notes (1) 494,273 501,906 (4) 2.65 — — — 2039 Senior Secured Guaranteed Notes (1) 316,807 370,392 (5) 4.77 316,100 354,093 (5) 4.77 2048 Senior Notes (1) 296,602 369,164 (4) 5.00 296,510 350,331 (4) 5.00 2050 Subordinated Notes (1) 296,527 296,625 (4) 4.95 297,008 304,125 (4) 4.95 Secured Borrowing I (2) 18,734 18,624 (3) 1.84 17,921 17,921 (3) 1.99 Secured Borrowing II (2) 19,925 19,713 (3) 1.71 — — — 2014 AMI Term Facility II (2) — — — 17,266 17,266 (3) 1.75 2016 AMI Term Facility I (2) 19,773 19,773 (3) 1.30 18,915 18,915 (3) 1.30 2016 AMI Term Facility II (2) 19,114 19,114 (3) 1.40 18,285 18,285 (3) 1.40 Total Debt $ 3,151,247 $ 3,535,777 $ 2,650,600 $ 2,912,762 (1) Includes amortization of note discount, as applicable. Outstanding balance is presented net of unamortized debt issuance costs: As of September 30, 2020 As of December 31, 2019 2024 Senior Notes $ 1,979 $ 2,394 2026 Senior Notes 2,662 3,014 2029 Senior Notes 5,443 5,928 2030 Senior Notes 4,296 — 2039 Senior Secured Guaranteed Notes 8,193 8,900 2048 Senior Notes 3,101 3,185 2050 Subordinated Notes 3,473 2,992 Total $ 29,147 $ 26,413 (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 I December 19, 2019 € 15,984 Secured Borrowing II March 5, 2020 € 17,000 2016 AMI Term Facility I January 18, 2016 € 16,870 2016 AMI Term Facility II June 22, 2016 € 16,308 The Secured Borrowings consists of obligations through repurchase agreements redeemable at maturity with third party lenders. The weighted average remaining maturity of Secured Borrowing I and II is 10.9 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 external 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 external 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 Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Interest Expense: (1) 2018 AMH Credit Facility $ 316 $ 334 $ 945 $ 961 2024 Senior Notes 5,163 5,163 15,489 15,489 2026 Senior Notes 5,628 5,629 16,885 16,885 2029 Senior Notes 8,229 8,412 24,687 19,514 2030 Senior Notes 3,465 — 4,428 — 2039 Senior Secured Guaranteed Notes 4,111 4,112 12,334 5,071 2048 Senior Notes 3,781 3,781 11,343 11,343 2050 Subordinated Notes 3,742 — 11,228 — AMI Term Facilities/Secured Borrowings 454 402 1,083 980 Total Interest Expense $ 34,889 27,833 $ 98,422 $ 70,243 (1) Debt issuance costs incurred are amortized into interest expense over the term of the debt arrangement, as applicable. The following table presents the revenues earned in aggregate from Athene and Athora: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues earned in aggregate from Athene and Athora, net (1)(2) $ 363,746 $ 141,273 $ (297,924) $ 505,780 (1) Consisting of management fees, sub-advisory fees, performance revenues (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 Athene Holding restricted share awards (“AHL Awards”) granted to employees of Apollo. (2) Gains (losses) on the market value of the shares of Athene Holding owned directly by Apollo were $145.0 million and $(19.2) million for the three months ended September 30, 2020 and 2019, respectively, and $(851.4) million and $42.6 million for the nine months ended September 30, 2020 and 2019, respectively.

NET INCOME (LOSS) PER SHARE O_2

NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK (Tables)	9 Months Ended
	Sep. 30, 2020
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 Three Months Ended For the Nine Months Ended 2020 2019 2020 2019 Numerator: Net income (loss) attributable to Apollo Global Management, Inc. Class A Common Stockholders $ 263,236 $ 354,106 $ (304,982) $ 649,658 Dividends declared on Class A Common Stock (1) (112,075) (100,355) (413,858) (305,901) Dividends on participating securities (2) (4,008) (4,450) (14,863) (13,524) Earnings allocable to participating securities (5,853) (11,440) — (3) (16,003) Undistributed income (loss) attributable to Class A Common Stockholders: Basic 141,300 237,861 (733,703) 314,230 Dilution effect on distributable income attributable to unvested RSUs — 1,200 — 2,355 Undistributed income (loss) attributable to Class A Common Stockholders: Diluted $ 141,300 $ 239,061 $ (733,703) $ 316,585 Denominator: Weighted average number of shares of Class A Common Stock outstanding: Basic 227,771,678 205,797,643 227,395,847 202,087,827 Dilution effect of unvested RSUs — 1,843,680 — 1,657,627 Weighted average number of shares of Class A Common Stock outstanding: Diluted 227,771,678 207,641,323 227,395,847 203,745,454 Net Income per share of Class A Common Stock: Basic (4) Distributed Income $ 0.49 $ 0.50 $ 1.80 $ 1.52 Undistributed Income (Loss) 0.62 1.14 (3.21) 1.55 Net Income (Loss) per share of Class A Common Stock: Basic $ 1.11 $ 1.64 $ (1.41) $ 3.07 Net Income per share of Class A Common Stock: Diluted (4) Distributed Income $ 0.49 $ 0.49 $ 1.80 $ 1.51 Undistributed Income (Loss) 0.62 1.14 (3.21) 1.55 Net Income per share of Class A Common Stock: Diluted $ 1.11 $ 1.63 $ (1.41) $ 3.06 (1) See note 14 for information regarding the quarterly dividends declared and paid during 2020 and 2019. (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 three months and nine months ended September 30, 2020, all of the classes of securities were determined to be anti-dilutive. For the three and nine months ended September 30, 2019, unvested RSUs were determined to be dilutive, and were accordingly included in the diluted earnings per share calculation. For the three and nine months ended September 30, 2019, 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.
Schedule of Weighted Average Number of Shares	The following table summarizes the anti-dilutive securities. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Weighted average vested RSUs 137,606 109,317 600,651 527,476 Weighted average unvested RSUs 8,149,823 N/A 7,831,201 N/A Weighted average unexercised options — 200,000 — 202,778 Weighted average AOG Units outstanding (1) 174,873,808 195,985,046 175,447,257 200,149,596 Weighted average unvested restricted shares 1,148,241 954,304 1,212,620 989,684 (1) Excludes AOG Units owned by Athene. Athene can only redeem their AOG Units by selling to Apollo or to a different buyer with Apollo’s agreement as detailed in the Liquidity Agreement (see note 15). As these AOG Units are not convertible into shares of Class A Common Stock, they are excluded when calculating diluted net income per share.

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule or Description of Forfeiture Rates and Equity Based Compensation Expense	The following table summarizes the equity based compensation expense recognized relating to Performance Grants: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Equity-based compensation $ 19,925 $ 16,456 $ 77,255 $ 45,587 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Forfeiture rate 0.5 % 0.5 % 6.8 % 1.7 % Equity-based compensation $ 40,473 $ 33,771 $ 133,273 $ 101,709
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	he following table summarizes RSU activity: Unvested Weighted Average Grant Date Fair Value Vested Total Number of RSUs Outstanding Balance at January 1, 2020 9,784,693 $ 26.38 2,349,618 12,134,311 (1) Granted 4,364,141 42.42 — 4,364,141 Forfeited (949,090) $ 22.83 (17,185) (966,275) Vested (2,486,605) 30.46 2,486,605 — Issued — $ 28.20 (4,661,031) (4,661,031) Balance at September 30, 2020 10,713,139 (2) $ 32.28 158,007 10,871,146 (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 2.3 y ears.
Schedule of Share-based Compensation, Activity	elow is a reconciliation of the equity-based compensation allocated to AGM Inc.: For the Nine Months Ended September 30, 2020 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 $ 152,998 — % $ — $ 152,998 Other equity-based compensation awards 8,270 47.1 3,898 4,372 Total equity-based compensation $ 161,268 3,898 157,370 Less other equity-based compensation awards (2) (3,898) (23,520) Capital increase related to equity-based compensation $ — $ 133,850 For the Nine Months Ended September 30, 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 $ 113,254 — % $ — $ 113,254 Other equity-based compensation awards 19,150 44.8 8,576 10,574 Total equity-based compensation $ 132,404 8,576 123,828 Less other equity-based compensation awards (2) (8,576) (21,639) Capital increase related to equity-based compensation $ — $ 102,189 (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)	9 Months Ended
	Sep. 30, 2020
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 Nine Months Ended September 30, 2020 2019 Shares of Class A Common Stock issued in settlement of vested RSUs and share options exercised (1) 4,661,031 4,146,944 Reduction of shares of Class A Common Stock issued (2) (1,972,369) (1,585,734) Shares of Class A Common Stock purchased related to share issuances and forfeitures (3) 581,828 (103,954) Issuance of shares of Class A Common Stock for equity-based awards 3,270,490 2,457,256 (1) The gross value of shares issued was $216.8 million and $127.2 million for the nine months ended September 30, 2020 and 2019, 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 $91.9 million and $48.8 million for the nine months ended September 30, 2020 and 2019, 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 nine months ended September 30, 2020 and 2019, we issu ed 636,425 and 163,024 of such restricted shares and 168,591 a nd 102,089 of such RSUs under the Equity Plan, respectively, and repurchased 19,549 and 265,113 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 54,597 a nd 1,865 restricted shares forfeited during the nine months ended September 30, 2020 and 2019, 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 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 — October 31, 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 January 30, 2020 $ 0.89 February 28, 2020 $ 205.6 $ 155.6 $ 361.2 $ 7.2 N/A — April 15, 2020 — 43.0 (1) 43.0 — May 1, 2020 0.42 May 29, 2020 96.2 85.7 181.9 3.6 July 30, 2020 0.49 August 31, 2020 112.1 100.0 212.1 4.0 For the Nine Months Ended September 30, 2020 $ 1.80 $ 413.9 $ 384.3 $ 798.2 $ 14.8 (1) On April 15, 2020 and April 12, 2019, the Company made $0.21 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 Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Net income (loss) attributable to Non-Controlling Interests in consolidated entities: Interest in management companies and a co-investment vehicle (1) $ 1,037 $ 827 $ 2,316 $ 2,853 Other consolidated entities 98,984 6,256 (25,636) 18,035 Net income (loss) attributable to Non-Controlling Interests in consolidated entities $ 100,021 $ 7,083 $ (23,320) $ 20,888 Net income (loss) attributable to Non-Controlling Interests in the Apollo Operating Group: Net income (loss) $ 676,099 $ 521,094 $ (608,659) $ 1,178,822 Net income (loss) attributable to Non-Controlling Interests in consolidated entities (100,021) (7,083) 23,320 (20,888) Net income (loss) after Non-Controlling Interests in consolidated entities 576,078 514,011 (585,339) 1,157,934 Adjustments: Income tax provision (benefit) (2) 89,357 (231,896) (66,173) (195,345) NYC UBT and foreign tax (provision) benefit (3) (11,966) (1,913) (22,609) (6,286) Net income (loss) in non-Apollo Operating Group entities 46 38,724 64 39,270 Series A Preferred Stock Dividends (4,382) (4,382) (13,148) (13,148) Series B Preferred Stock Dividends (4,781) (4,782) (14,344) (14,344) Total adjustments 68,274 (204,249) (116,210) (189,853) Net income (loss) after adjustments 644,352 309,762 (701,549) 968,081 Weighted average ownership percentage of Apollo Operating Group 47.1 % 48.7 % 46.7 % 49.6 % Net income (loss) attributable to Non-Controlling Interests in Apollo Operating Group $ 303,679 $ 150,741 $ (307,849) $ 480,784 Net Income (loss) attributable to Non-Controlling Interests $ 403,700 $ 157,824 $ (331,169) $ 501,672 Other comprehensive income (loss) attributable to Non-Controlling Interests 13,081 (12,999) 12,263 (16,053) Comprehensive Income (Loss) attributable to Non-Controlling Interests $ 416,781 $ 144,825 $ (318,906) $ 485,619 (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 condensed consolidated statements of operations. Of this amount, U.S. federal, state, and local corporate income taxes attributable to AGM Inc. and its subsidiaries 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)	9 Months Ended
	Sep. 30, 2020
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 $ 172,570 $ 186,495 Due from private equity funds 34,926 27,724 Due from real assets funds 29,749 26,626 Due from portfolio companies 49,826 53,394 Due from Contributing Partners, employees and former employees 200,382 120,830 Total Due from Related Parties $ 487,453 $ 415,069 Due to Related Parties: Due to Managing Partners and Contributing Partners $ 316,387 $ 302,050 Due to credit funds 8,375 7,213 Due to private equity funds 349,483 191,620 Due to real assets funds 37,941 504 Total Due to Related Parties $ 712,186 $ 501,387
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 $ — $ — Private Equity 348,418 189,252 Real Assets 36,695 — Total general partner obligation $ 385,113 $ 189,252
Sub-Allocation Fees Schedule	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 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 Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Interest Expense: (1) 2018 AMH Credit Facility $ 316 $ 334 $ 945 $ 961 2024 Senior Notes 5,163 5,163 15,489 15,489 2026 Senior Notes 5,628 5,629 16,885 16,885 2029 Senior Notes 8,229 8,412 24,687 19,514 2030 Senior Notes 3,465 — 4,428 — 2039 Senior Secured Guaranteed Notes 4,111 4,112 12,334 5,071 2048 Senior Notes 3,781 3,781 11,343 11,343 2050 Subordinated Notes 3,742 — 11,228 — AMI Term Facilities/Secured Borrowings 454 402 1,083 980 Total Interest Expense $ 34,889 27,833 $ 98,422 $ 70,243 (1) Debt issuance costs incurred are amortized into interest expense over the term of the debt arrangement, as applicable. The following table presents the revenues earned in aggregate from Athene and Athora: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues earned in aggregate from Athene and Athora, net (1)(2) $ 363,746 $ 141,273 $ (297,924) $ 505,780 (1) Consisting of management fees, sub-advisory fees, performance revenues (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 Athene Holding restricted share awards (“AHL Awards”) granted to employees of Apollo. (2) Gains (losses) on the market value of the shares of Athene Holding owned directly by Apollo were $145.0 million and $(19.2) million for the three months ended September 30, 2020 and 2019, respectively, and $(851.4) million and $42.6 million for the nine months ended September 30, 2020 and 2019, respectively.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Summary of Fixed and Determinable Payments	As of September 30, 2020, fixed and determinable payments due in connection with these obligations were as follows: Remaining 2020 2021 2022 2023 2024 Thereafter Total Other long-term obligations $ 9,347 $ 9,908 $ 1,947 $ 703 $ 703 $ — $ 22,608

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2020
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 Three Months Ended September 30, 2020 Credit Private Equity Real Assets Total Reportable Management fees $ 246,159 $ 128,446 $ 51,847 426,452 Advisory and transaction fees, net 51,376 20,108 878 72,362 Performance fees (1) 2,204 — — 2,204 Fee Related Revenues 299,739 148,554 52,725 501,018 Salary, bonus and benefits (61,975) (53,451) (29,513) (144,939) General, administrative and other (40,367) (25,099) (11,869) (77,335) Placement fees (425) (188) — (613) Fee Related Expenses (102,767) (78,738) (41,382) (222,887) Other income (loss), net of Non-Controlling Interest (780) 23 59 (698) Fee Related Earnings 196,192 69,839 11,402 277,433 Realized performance fees 7,614 2,025 7,806 17,445 Realized profit sharing expense (7,614) (2,025) (7,806) (17,445) Net Realized Performance Fees — — — — Realized principal investment income, net (2) 928 1,598 356 2,882 Net interest loss and other (14,010) (14,580) (6,216) (34,806) Segment Distributable Earnings (3) $ 183,110 $ 56,857 $ 5,542 $ 245,509 Total Assets (3) $ 4,314,160 $ 2,873,066 $ 833,780 $ 8,021,006 (1) Represents certain performance fees related to business development companies, Redding Ridge Holdings and MidCap. (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. For the Three Months Ended September 30, 2019 Credit Private Equity Real Assets Total Reportable Management fees $ 198,867 $ 131,643 $ 47,862 $ 378,372 Advisory and transaction fees, net 5,530 10,655 377 16,562 Performance fees (1) 6,449 — — 6,449 Fee Related Revenues 210,846 142,298 48,239 401,383 Salary, bonus and benefits (51,746) (45,807) (19,306) (116,859) General, administrative and other (33,403) (26,603) (10,734) (70,740) Placement fees (190) (65) (1) (256) Fee Related Expenses (85,339) (72,475) (30,041) (187,855) Other loss, net of Non-Controlling Interest (597) (135) (6) (738) Fee Related Earnings 124,910 69,688 18,192 212,790 Realized performance fees 3,530 63,742 162 67,434 Realized profit sharing expense (1,674) (22,084) (65) (23,823) Net Realized Performance Fees 1,856 41,658 97 43,611 Realized principal investment income, net (2) 5,845 8,114 415 14,374 Net interest loss and other (6,106) (8,911) (3,234) (18,251) Segment Distributable Earnings (3) $ 126,505 $ 110,549 $ 15,470 $ 252,524 (1) Represents certain performance fees related to business development companies, Redding Ridge Holdings and MidCap. (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 and other income (loss) for Apollo’s total reportable segments to total consolidated revenues, total consolidated expenses and total consolidated other income (loss) and total assets.
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 Three Months Ended September 30, 2020 2019 Total Consolidated Revenues $ 1,018,274 $ 702,721 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (27,479) (19,990) Adjustments related to consolidated funds and VIEs (1) 22,084 4,079 Performance fees (2) (457,754) (250,642) Principal investment income (54,107) (34,785) Total Fee Related Revenues 501,018 401,383 Realized performance fees 17,445 67,434 Realized principal investment income, net and other 1,198 13,532 Total Segment Revenues $ 519,661 $ 482,349 (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 related to business development companies, Redding Ridge Holdings and MidCap. The following table reconciles total consolidated expenses to total expenses for Apollo’s reportable segments: For the Three Months Ended September 30, 2020 2019 Total Consolidated Expenses $ 531,055 $ 371,372 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (26,339) (20,563) Reclassification of interest expenses (34,889) (27,833) Transaction-related charges, net (1) (10,835) (5,201) Charges associated with corporate conversion (2) (2,829) (6,994) Equity-based compensation (17,962) (15,802) Total profit sharing expense (3) (213,494) (107,124) Dividend-related compensation expense (1,820) — Total Fee Related Expenses 222,887 187,855 Realized profit sharing expense 17,445 23,823 Total Segment Expenses $ 240,332 $ 211,678 (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, and restructuring charges. (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. The following table reconciles total consolidated other income (loss) to total other loss for Apollo’s reportable segments: For the Three Months Ended September 30, 2020 2019 Total Consolidated Other Income (Loss) $ 278,237 $ (42,151) Adjustments related to consolidated funds and VIEs (1) (121,425) (10,338) Loss from change in tax receivable agreement liability — 38,575 Net (gains) losses from investment activities (144,839) 19,783 Interest income and other, net of Non-Controlling Interest (12,671) (6,607) Other Loss, net of Non-Controlling Interest (698) (738) Net interest loss and other (33,122) (17,409) Total Segment Other Loss $ (33,820) $ (18,147) (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 condensed consolidated statements of operations to Segment Distributable Earnings: For the Three Months Ended September 30, 2020 2019 Income before income tax provision $ 765,456 $ 289,198 Transaction-related charges (1) 10,835 5,201 Charges associated with corporate conversion (2) 2,829 6,994 Loss from change in tax receivable agreement liability — 38,575 Net income attributable to Non-Controlling Interests in consolidated entities (100,021) (7,083) Unrealized performance fees (440,310) (183,208) Unrealized profit sharing expense 168,368 61,098 Equity-based profit sharing expense and other (3) 27,681 22,203 Equity-based compensation 17,962 15,802 Unrealized principal investment income (49,406) (20,411) Unrealized net (gains) losses from investment activities and other (157,885) 24,155 Segment Distributable Earnings $ 245,509 $ 252,524 (1) Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions, and restructuring charges. (2) Represents expenses incurred in relation to the Conversion, as described in note 1. (3) 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	As of and for the Nine Months Ended September 30, 2020 Credit Private Equity Real Assets Total Reportable Management fees $ 679,109 $ 381,306 $ 150,227 1,210,642 Advisory and transaction fees, net 80,399 85,253 5,191 170,843 Performance fees (1) 8,048 — — 8,048 Fee Related Revenues 767,556 466,559 155,418 1,389,533 Salary, bonus and benefits (171,789) (149,133) (83,037) (403,959) General, administrative and other (112,991) (68,863) (35,637) (217,491) Placement fees (1,089) (295) — (1,384) Fee Related Expenses (285,869) (218,291) (118,674) (622,834) Other income (loss), net of Non-Controlling Interest (2,167) 48 154 (1,965) Fee Related Earnings 479,520 248,316 36,898 764,734 Realized performance fees 37,834 6,717 49,477 94,028 Realized profit sharing expense (37,530) (7,021) (49,477) (94,028) Net Realized Performance Fees 304 (304) — — Realized principal investment income, net (2) 4,112 5,544 4,028 13,684 Net interest loss and other (42,981) (41,940) (16,069) (100,990) Segment Distributable Earnings (3) $ 440,955 $ 211,616 $ 24,857 $ 677,428 Total Assets (3) $ 4,314,160 $ 2,873,066 $ 833,780 $ 8,021,006 (1) Represents certain performance fees related to business development companies, Redding Ridge Holdings and MidCap. (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. For the Nine Months Ended September 30, 2019 Credit Private Equity Real Assets Total Reportable Management fees $ 571,884 $ 391,777 $ 139,645 $ 1,103,306 Advisory and transaction fees, net 13,888 47,048 5,748 66,684 Performance fees (1) 16,371 — — 16,371 Fee Related Revenues 602,143 438,825 145,393 1,186,361 Salary, bonus and benefits (146,515) (129,307) (57,031) (332,853) General, administrative and other (92,546) (75,427) (28,956) (196,929) Placement fees (42) (548) (1) (591) Fee Related Expenses (239,103) (205,282) (85,988) (530,373) Other income, net of Non-Controlling Interest 967 4,024 88 5,079 Fee Related Earnings 364,007 237,567 59,493 661,067 Realized performance fees 24,887 136,429 3,242 164,558 Realized profit sharing expense (13,069) (63,900) (1,299) (78,268) Net Realized Performance Fees 11,818 72,529 1,943 86,290 Realized principal investment income, net (2) 16,803 18,079 2,209 37,091 Net interest loss and other (15,148) (22,694) (8,115) (45,957) Segment Distributable Earnings (3) $ 377,480 $ 305,481 $ 55,530 $ 738,491 (1) Represents certain performance fees related to business development companies, Redding Ridge Holdings and MidCap. (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. The following table reconciles total consolidated revenues to total revenues for Apollo’s reportable segments: For the Nine Months Ended September 30, 2020 2019 Total Consolidated Revenues $ 1,057,523 $ 2,017,077 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (88,167) (72,966) Adjustments related to consolidated funds and VIEs (1) 36,798 5,801 Performance fees (2) 358,188 (661,828) Principal investment (income) loss 25,191 (101,723) Total Fee Related Revenues 1,389,533 1,186,361 Realized performance fees 94,028 164,558 Realized principal investment income, net and other 10,315 34,564 Total Segment Revenues $ 1,493,876 $ 1,385,483 (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 related to business development companies, Redding Ridge Holdings and MidCap. The following table reconciles total consolidated expenses to total expenses for Apollo’s reportable segments: For the Nine Months Ended September 30, 2020 2019 Total Consolidated Expenses $ 905,398 $ 1,091,914 Equity awards granted by unconsolidated related parties, reimbursable expenses and other (1) (80,212) (73,270) Reclassification of interest expenses (98,422) (70,243) Transaction-related charges, net (1) (21,546) (28,799) Charges associated with corporate conversion (2) (3,893) (17,000) Equity-based compensation (49,779) (52,462) Total profit sharing expense (3) (22,532) (319,767) Dividend-related compensation expense (6,180) — Total Fee Related Expenses 622,834 530,373 Realized profit sharing expense 94,028 78,268 Total Segment Expenses $ 716,862 $ 608,641 (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, and restructuring charges. (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. The following table reconciles total consolidated other income (loss) to total other loss for Apollo’s reportable segments: For the Nine Months Ended September 30, 2020 2019 Total Consolidated Other Income (Loss) $ (826,957) $ 58,314 Adjustments related to consolidated funds and VIEs (1) (11,157) (23,839) Loss from change in tax receivable agreement liability — 38,575 Net (gains) losses from investment activities 849,293 (44,095) Interest income and other, net of Non-Controlling Interest (13,144) (23,876) Other Income (Loss), net of Non-Controlling Interest (1,965) 5,079 Net interest loss and other (97,621) (43,430) Total Segment Other Loss $ (99,586) $ (38,351) (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 condensed consolidated statements of operations to Segment Distributable Earnings: For the Nine Months Ended September 30, 2020 2019 Income (Loss) before income tax (provision) benefit $ (674,832) $ 983,477 Transaction-related charges (1) 21,546 28,799 Charges associated with corporate conversion (2) 3,893 17,000 Loss from change in tax receivable agreement liability — 38,575 Net (income) loss attributable to Non-Controlling Interests in consolidated entities 23,320 (20,888) Unrealized performance fees 452,215 (497,270) Unrealized profit sharing expense (172,128) 177,659 Equity-based profit sharing expense and other (3) 100,632 63,840 Equity-based compensation 49,779 52,462 Unrealized principal investment (income) loss 45,054 (64,632) Unrealized net (gains) losses from investment activities and other 827,949 (40,531) Segment Distributable Earnings $ 677,428 $ 738,491 (1) Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions, and restructuring charges. (2) Represents expenses incurred in relation to the Conversion, as described in note 1. (3) 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 $ 8,021,006 $ 7,337,517 Adjustments (1) 10,606,864 1,204,600 Total assets $ 18,627,870 $ 8,542,117

ORGANIZATION (Details)

ORGANIZATION (Details)	Feb. 28, 2020shares	Sep. 30, 2020segmentholding_company$ / sharesshares	Dec. 31, 2019$ / 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		228,747,302	222,994,407
Common stock, par value (in USD per share) | $ / shares		$ 0.00001	$ 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	1
Common stock, par value (in USD per share) | $ / shares		$ 0.00001	$ 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	11,000,000
Series A Preferred Stock | AGM LLC
Entity Information [Line Items]
Preferred stock, shares issued				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	12,000,000
Series B Preferred Stock | AGM LLC
Entity Information [Line Items]
Preferred stock, shares issued				1
Preferred stock, liquidation preference (in USD per share) | $ / shares				$ 25
Class C Common Stock
Entity Information [Line Items]
Common stock, shares issued		1	1
Common stock, par value (in USD per share) | $ / shares		$ 0.00001	$ 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		52.90%
Holdings
Entity Information [Line Items]
Economic interest percentage		40.40%
Athene Holding
Entity Information [Line Items]
Equity interests issued (in shares)	29,154,519
Athene Holding | Apollo Operating Group
Entity Information [Line Items]
Ownership percentage by noncontrolling owners		6.70%
Athene Holding | Athene Holding
Entity Information [Line Items]
Incremental interest purchased	17.00%
Ownership percentage	28.00%	28.50%	11.30%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Level I
New Accounting Pronouncement, Early Adoption [Line Items]
Money market funds and U.S. treasury securities	$ 1,500	$ 253.5

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred Revenue (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Accounting Policies [Abstract]
Deferred revenue recognized	$ 78.7

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - 401(k) Savings Plan (Details)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Percent of eligible employee contributions	50.00%
Percent of the eligible employees’ compensation	3.00%
Service period	3 years

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	Jun. 26, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Goodwill [Line Items]
Goodwill		$ 116,958		$ 93,911
Acquisition of goodwill		663	$ 0
Credit
Goodwill [Line Items]
Goodwill		92,200		69,800
Private Equity
Goodwill [Line Items]
Goodwill		23,800		23,100
Real Assets
Goodwill [Line Items]
Goodwill		1,000		$ 1,000
PK AirFinance Platform
Goodwill [Line Items]
Goodwill		$ 27,400
Acquisition of goodwill	$ 22,400

INVESTMENTS - Apollo's Investme

INVESTMENTS - Apollo's Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Investments, at fair value	$ 1,884,388	$ 1,053,556
Equity method investments	964,521	1,048,732
Performance allocations	1,128,160	1,507,571
Total Investments	$ 3,977,069	$ 3,609,859

INVESTMENTS - Summarized Financ

INVESTMENTS - Summarized Financial Information of Athene Holding (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of Equity Method Investments [Line Items]
Expenses	$ 531,055	$ 371,372	$ 905,398	$ 1,091,914
Income (loss) before income tax (provision) benefit	765,456	289,198	(674,832)	983,477
Income tax provision (benefit)	89,357	(231,896)	(66,173)	(195,345)
Net Income (Loss)	676,099	521,094	(608,659)	1,178,822
Net (income) loss attributable to Non-Controlling Interests	(403,700)	(157,824)	331,169	(501,672)
Net Income (Loss) Attributable to Apollo Global Management, Inc.	272,399	363,270	(277,490)	677,150
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Investment in Athene Holding
Schedule of Equity Method Investments [Line Items]
Revenues	3,275	4,584	6,124	13,002
Expenses	2,251	4,305	5,401	11,233
Income (loss) before income tax (provision) benefit	1,024	279	723	1,769
Income tax provision (benefit)	140	(14)	124	48
Net Income (Loss)	884	293	599	1,721
Net (income) loss attributable to Non-Controlling Interests	232	0	151	0
Net Income (Loss) Attributable to Apollo Global Management, Inc.	652	293	448	1,721
Preferred stock dividends	30	17	67	17
Net Income (Loss) Attributable to Apollo Global Management, Inc. Class A Common Stockholders	$ 622	$ 276	$ 381	$ 1,704

INVESTMENTS - Summary of Net Ga

INVESTMENTS - Summary of Net Gains (Losses) from Investment Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Realized gains on sales of investments, net	$ 155	$ 0	$ 2,031	$ 45
Net change in unrealized gains (losses) due to changes in fair value	144,317	(19,790)	(853,443)	44,054
Investment Income, Net, Amortization of Discount and Premium	$ 144,472	$ (19,790)	$ (851,412)	$ 44,099

INVESTMENTS - Summary of Equity

INVESTMENTS - Summary of Equity Method Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 964,521	$ 1,048,732
Credit
Schedule of Equity Method Investments [Line Items]
Equity method investments	247,775	318,054
Credit | AINV
Schedule of Equity Method Investments [Line Items]
Equity method investments	40,000	51,000
Value of company's investment	24,000	51,300
Private Equity
Schedule of Equity Method Investments [Line Items]
Equity method investments	624,395	632,540
Private Equity | Fund VIII
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 326,600	$ 370,700
Ownership percentage	2.20%	2.20%
Real Assets
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 92,351	$ 98,138

INVESTMENTS - Summary of Perfor

INVESTMENTS - Summary of Performance Allocations (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Performance allocations	$ 1,128,160	$ 1,507,571
Credit
Schedule of Equity Method Investments [Line Items]
Performance allocations	375,305	418,517
Private Equity
Schedule of Equity Method Investments [Line Items]
Performance allocations	610,269	822,531
Real Assets
Schedule of Equity Method Investments [Line Items]
Performance allocations	$ 142,586	$ 266,523

INVESTMENTS - Performance Alloc

INVESTMENTS - Performance Allocations Rollforward (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Performance Allocation [Roll Forward]
Performance allocations beginning balance	$ 1,507,571
Change in fair value of funds	(158,463)
Fund distributions to the Company	(220,948)
Performance allocations ending balance	1,128,160
Credit
Performance Allocation [Roll Forward]
Performance allocations beginning balance	418,517
Change in fair value of funds	119,555
Fund distributions to the Company	(162,767)
Performance allocations ending balance	375,305
Private Equity
Performance Allocation [Roll Forward]
Performance allocations beginning balance	822,531
Change in fair value of funds	(203,558)
Fund distributions to the Company	(8,704)
Performance allocations ending balance	610,269
Real Assets
Performance Allocation [Roll Forward]
Performance allocations beginning balance	266,523
Change in fair value of funds	(74,460)
Fund distributions to the Company	(49,477)
Performance allocations ending balance	$ 142,586

PROFIT SHARING PAYABLE - Summar

PROFIT SHARING PAYABLE - Summary of Profit Sharing (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Profit Sharing Payable Summary [Line Items]
Total profit sharing payable	$ 666,734	$ 758,669
Credit
Profit Sharing Payable Summary [Line Items]
Total profit sharing payable	324,000	314,125
Private Equity
Profit Sharing Payable Summary [Line Items]
Total profit sharing payable	243,362	329,817
Real Assets
Profit Sharing Payable Summary [Line Items]
Total profit sharing payable	$ 99,372	$ 114,727

PROFIT SHARING PAYABLE - Rollfo

PROFIT SHARING PAYABLE - Rollforward Summary of Profit Sharing (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Profit Sharing Payable Rollforward [Roll Forward]
Profit sharing payable, beginning balance	$ 758,669
Profit sharing expense	15,966
Payments/other	(107,901)
Profit sharing payable, ending balance	666,734
Credit
Profit Sharing Payable Rollforward [Roll Forward]
Profit sharing payable, beginning balance	314,125
Profit sharing expense	90,284
Payments/other	(80,409)
Profit sharing payable, ending balance	324,000
Private Equity
Profit Sharing Payable Rollforward [Roll Forward]
Profit sharing payable, beginning balance	329,817
Profit sharing expense	(76,406)
Payments/other	(10,049)
Profit sharing payable, ending balance	243,362
Real Assets
Profit Sharing Payable Rollforward [Roll Forward]
Profit sharing payable, beginning balance	114,727
Profit sharing expense	2,088
Payments/other	(17,443)
Profit sharing payable, ending balance	$ 99,372

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details)	9 Months Ended
	Sep. 30, 2020	Feb. 28, 2020	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Number of days trade is open with VIE	60 days
Athene Holding | Athene Holding
Noncontrolling Interest [Line Items]
Incremental interest purchased		17.00%
Ownership percentage	28.50%	28.00%	11.30%

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of Net Gains from Investment Activities of Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net gains (losses) from investment activities	$ 142,247	$ 14,892	$ (358,497)	$ 38,679
Net gains (losses) from debt	24,249	(5,217)	205,518	(16,287)
Interest and other income	81,663	7,357	317,714	20,772
Interest and other expenses	(126,040)	(6,401)	(150,674)	(18,436)
Net gains from investment activities of consolidated variable interest entities	$ 122,119	$ 10,631	$ 14,061	$ 24,728

VARIABLE INTEREST ENTITIES - Pr

VARIABLE INTEREST ENTITIES - Principal Provisions of Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Collateralized assets	$ 12,949,971		$ 2,931,223
Consolidated Variable Interest Entities
Debt Instrument [Line Items]
Principal Outstanding	6,045,223		870,176
Debt, at fair value	5,646,884		850,147
Collateralized assets	6,200,000		1,300,000
Consolidated Variable Interest Entities | Senior Notes
Debt Instrument [Line Items]
Principal Outstanding	$ 5,172,758		$ 757,628
Weighted Average Interest Rate	2.95%		1.56%
Weighted Average Remaining Maturity in Years	6 years	10 years 2 months 12 days
Consolidated Variable Interest Entities | Subordinated Notes
Debt Instrument [Line Items]
Principal Outstanding	$ 606,721		$ 93,572
Weighted Average Remaining Maturity in Years	22 years 2 months 12 days	20 years 4 months 24 days
Consolidated Variable Interest Entities | Secured Borrowings
Debt Instrument [Line Items]
Principal Outstanding	$ 265,744		$ 18,976
Weighted Average Interest Rate	2.16%		3.69%
Weighted Average Remaining Maturity in Years	4 months 24 days	7 years 9 months 18 days

VARIABLE INTEREST ENTITIES - Va

VARIABLE INTEREST ENTITIES - Variable Interest Entities Which are Not Consolidated (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets:
Investments	$ 3,977,069	$ 3,609,859
Total Assets	18,627,870	8,542,117
Liabilities:
Total Liabilities	14,438,866	5,503,990
Variable Interest Entity, Not Primary Beneficiary
Assets:
Cash	351,302	222,481
Investments	4,352,789	5,418,295
Receivables	41,636	137,165
Total Assets	4,745,727	5,777,941
Liabilities:
Debt and other payables	1,318,305	3,449,227
Total Liabilities	1,318,305	3,449,227
Apollo Exposure	$ 154,248	$ 250,521

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	Sep. 30, 2020	Dec. 31, 2019
Investments, at fair value:
Derivative assets	$ 123	$ 249
Total Assets	12,949,971	2,931,223
Liabilities
Derivative liabilities	89	93
Total Liabilities	5,773,271	962,754
Performance allocations	1,128,160	1,507,571
U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities, at fair value	1,164,867	664,249
Liabilities
Cost	1,164,802	642,176
Investment in Athene Holding
Investments, at fair value:
Investments, at fair value	1,548,414	897,052
Liabilities
Cost	2,093,426	590,110
Other Investments
Investments, at fair value:
Investments, at fair value	335,974	156,504
Liabilities
Cost	299,920	135,686
Total investments, at fair value
Investments, at fair value:
Investments, at fair value	1,884,388	1,053,556
Liabilities
Cost	2,393,346	725,796
Contingent Consideration Obligation
Liabilities
Contingent consideration obligations	103,273	112,514
Level I
Investments, at fair value:
Derivative assets	0	0
Total Assets	1,164,867	1,561,301
Liabilities
Derivative liabilities	0	0
Total Liabilities	0	0
Level I | U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities, at fair value	1,164,867	664,249
Level I | Investment in Athene Holding
Investments, at fair value:
Investments, at fair value	0	897,052
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	0	897,052
Level I | Contingent Consideration Obligation
Liabilities
Contingent consideration obligations	0	0
Level II
Investments, at fair value:
Derivative assets	123	249
Total Assets	3,611,202	934,599
Liabilities
Derivative liabilities	89	93
Total Liabilities	1,504,294	850,240
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	1,548,414	0
Level II | Other Investments
Investments, at fair value:
Investments, at fair value	45,011	43,094
Level II | Total investments, at fair value
Investments, at fair value:
Investments, at fair value	1,593,425	43,094
Level II | Contingent Consideration Obligation
Liabilities
Contingent consideration obligations	0	0
Level III
Investments, at fair value:
Derivative assets	0	0
Total Assets	8,122,684	434,479
Liabilities
Derivative liabilities	0	0
Total Liabilities	4,268,977	112,514
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	290,963	113,410
Liabilities
Performance allocations	27,400	25,800
Level III | Total investments, at fair value
Investments, at fair value:
Investments, at fair value	290,963	113,410
Level III | Contingent Consideration Obligation
Liabilities
Contingent consideration obligations	103,273	112,514
Consolidated Variable Interest Entities
Investments, at fair value:
Investments, at fair value	9,900,593	1,213,169
Investments of VIEs, at fair value	9,849,375	1,212,325
Total Assets	6,200,000	1,300,000
Liabilities
Debt of VIEs, at fair value	5,646,884	850,147
Other liabilities of VIEs, at fair value	23,025
Consolidated Variable Interest Entities | Level I
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
Debt of VIEs, at fair value	0	0
Other liabilities of VIEs, at fair value	0
Consolidated Variable Interest Entities | Level II
Investments, at fair value:
Investments, at fair value	2,017,654	891,256
Investments of VIEs, at fair value	2,017,654	891,256
Investments of VIEs, valued using NAV	0	0
Liabilities
Debt of VIEs, at fair value	1,504,205	850,147
Other liabilities of VIEs, at fair value	0
Consolidated Variable Interest Entities | Level III
Investments, at fair value:
Investments, at fair value	7,831,721	321,069
Investments of VIEs, at fair value	7,831,721	321,069
Investments of VIEs, valued using NAV	0	0
Liabilities
Debt of VIEs, at fair value	4,142,679	0
Other liabilities of VIEs, at fair value	23,025
Consolidated Variable Interest Entities | NAV
Investments, at fair value:
Investments of VIEs, valued using NAV	$ 51,218	$ 844

FAIR VALUE MEASUREMENTS OF FI_4

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Changes in Fair Value in Financial Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 8,282,933	$ 415,505	$ 434,479	$ 392,357
Transfer in due to consolidation			7,794,128
Purchases	114,450		1,133,985	15,048
Sale of investments/distributions	(197,804)	(932)	(391,059)	(2,810)
Settlements	(196,746)		(634,694)
Net realized gains (losses)	(328)		1,544
Changes in net unrealized gains (losses)	80,991	11,490	(254,746)	29,235
Cumulative translation adjustment	37,605	(16,721)	36,891	(19,443)
Transfer into Level III	9,470	1,693	80,106	1,693
Transfer out of Level III	(7,887)		(77,950)	(5,045)
Balance, End of Period	8,122,684	411,035	8,122,684	411,035
Gains (losses) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	6,700	1,484	5,519	8,057
Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	(57,888)	10,005	(105,191)	21,178
Other Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	267,353	114,439	113,410	96,370
Transfer in due to consolidation			0
Purchases	18,507		178,462	15,048
Sale of investments/distributions	(12,477)	(932)	(21,855)	(2,810)
Settlements	0		0
Net realized gains (losses)	0		1,751
Changes in net unrealized gains (losses)	6,700	1,484	5,519	8,057
Cumulative translation adjustment	10,239	(4,054)	13,309	(4,799)
Transfer into Level III	641	1,693	641	1,693
Transfer out of Level III	0		(274)	(929)
Balance, End of Period	290,963	112,630	290,963	112,630
Other Investments | Gains (losses) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	6,700	1,484	5,519	8,057
Other Investments | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	0	0	0	0
Consolidated Variable Interest Entities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	8,015,580	301,066	321,069	295,987
Transfer in due to consolidation			7,794,128
Purchases	95,943		955,523	0
Sale of investments/distributions	(185,327)	0	(369,204)	0
Settlements	(196,746)		(634,694)
Net realized gains (losses)	(328)		(207)
Changes in net unrealized gains (losses)	74,291	10,006	(260,265)	21,178
Cumulative translation adjustment	27,366	(12,667)	23,582	(14,644)
Transfer into Level III	8,829	0	79,465	0
Transfer out of Level III	(7,887)		(77,676)	(4,116)
Balance, End of Period	7,831,721	298,405	7,831,721	298,405
Consolidated Variable Interest Entities | Gains (losses) on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	0	0	0	0
Consolidated Variable Interest Entities | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	$ (57,888)	$ 10,005	$ (105,191)	$ 21,178

FAIR VALUE MEASUREMENTS OF FI_5

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Changes in Fair Value in Financial Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 4,357,844		$ 112,514
Transfer in due to consolidation			4,291,286
Issuances	24,690		327,618
Repayments	(42,025)		(253,645)
Net realized gains	(1,245)		2,214
Changes in net unrealized (gains) losses	(93,560)		(236,150)
Cumulative translation adjustment	23,273		25,140
Balance, End of Period	4,268,977		4,268,977
Contingent Consideration Obligations
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	99,097	$ 93,223	112,514	$ 74,487
Transfer in due to consolidation			0	0
Issuances	0	0	0	0
Repayments		(512)	(12,870)	(1,827)
Net realized gains	0	0	0
Changes in net unrealized (gains) losses	4,176	3,689	3,629	23,740
Cumulative translation adjustment	0	0	0	0
Balance, End of Period	103,273	$ 96,400	103,273	$ 96,400
Consolidated Variable Interest Entities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, End of Period	23,025		23,025
Consolidated Variable Interest Entities | Debt and Other Liabilities of Consolidated VIEs
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	4,258,747		0
Transfer in due to consolidation			4,291,286
Issuances	24,690		327,618
Repayments	(42,025)		(240,775)
Net realized gains	(1,245)		2,214
Changes in net unrealized (gains) losses	(97,736)		(239,779)
Cumulative translation adjustment	23,273		25,140
Balance, End of Period	$ 4,165,704		$ 4,165,704

FAIR VALUE MEASUREMENTS OF FI_6

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Quantitative Inputs and Assumptions used for Financial Assets and Liabilities Categories (Details) $ in Thousands	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Financial Assets
Assets	$ 8,122,684	$ 8,282,933	$ 434,479	$ 411,035	$ 415,505	$ 392,357
Financial Liabilities
Liabilities	4,268,977	4,357,844	112,514
Discounted cash flow | Contingent Consideration Obligation
Financial Liabilities
Liabilities	103,273
Level III
Financial Assets
Assets	8,122,684		434,479
Financial Liabilities
Liabilities	4,268,977		112,514
Level III | Embedded value | Other investments
Financial Assets
Other investments	213,602
Level III | Discounted cash flow | Other investments
Financial Assets
Other investments	69,395		108,060
Level III | Discounted cash flow | Contingent Consideration Obligation
Financial Liabilities
Liabilities			112,514
Level III | Third party pricing | Other investments
Financial Assets
Other investments	$ 7,966		$ 5,350
Level III | Discount rate | Discounted cash flow | Other investments
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input	18.00%
Level III | Discount rate | Discounted cash flow | Other investments | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input			15.00%
Level III | Discount rate | Discounted cash flow | Other investments | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input			16.00%
Level III | Discount rate | Discounted cash flow | Other investments | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input	18.00%		15.60%
Level III | Discount rate | Discounted cash flow | Contingent Consideration Obligation
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Contingent consideration obligation, measurement input	0.170		0.173
Level III | Discount rate | Discounted cash flow | Contingent Consideration Obligation | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Contingent consideration obligation, measurement input	0.170		0.173
Consolidated Variable Interest Entities
Financial Assets
Other investments	$ 9,900,593		$ 1,213,169
Assets	7,831,721	$ 8,015,580	321,069	$ 298,405	$ 301,066	$ 295,987
Financial Liabilities
Liabilities	23,025
Consolidated Variable Interest Entities | Bonds
Financial Assets
Assets	50,800
Consolidated Variable Interest Entities | Equity Securities
Financial Assets
Assets	1,349,575
Consolidated Variable Interest Entities | Other Equity Investments
Financial Assets
Assets	3,289
Consolidated Variable Interest Entities | Real Estate
Financial Assets
Assets	382,895
Consolidated Variable Interest Entities | Profit Participating Notes
Financial Assets
Assets	2,546,845
Consolidated Variable Interest Entities | Warrants
Financial Assets
Assets	1,928
Consolidated Variable Interest Entities | Warrants
Financial Assets
Assets	41,229
Consolidated Variable Interest Entities | Secured loans
Financial Liabilities
Liabilities	3,587,956
Consolidated Variable Interest Entities | Subordinated notes
Financial Liabilities
Liabilities	340,999
Consolidated Variable Interest Entities | Preferred equity
Financial Liabilities
Liabilities	213,724
Consolidated Variable Interest Entities | Level III
Financial Assets
Other investments	7,831,721		321,069
Consolidated Variable Interest Entities | Level III | Book value multiple and Discounted cash flow | Bank Loans
Financial Assets
Assets	$ 3,455,160
Consolidated Variable Interest Entities | Level III | Book value multiple and Discounted cash flow | Equity Securities
Financial Assets
Assets			$ 321,069
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Bank Loans | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	0.028
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Bank Loans | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	0.176
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Bank Loans | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	0.048
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Bonds | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bonds, Measurement Input	0.050
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Bonds | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bonds, Measurement Input	0.126
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Bonds | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bonds, Measurement Input	0.067
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Equity Securities
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input			0.131
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Equity Securities | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.044
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Equity Securities | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.230
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Equity Securities | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.070		0.131
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Other Equity Investments | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input	4.40%
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Other Equity Investments | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input	8.20%
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Other Equity Investments | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input	6.70%
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Real Estate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input	0.063
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Real Estate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input	0.135
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Real Estate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input	0.083
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Profit Participating Notes | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Profit Participating Notes	0.075
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Profit Participating Notes | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Profit Participating Notes	0.150
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Profit Participating Notes | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Profit Participating Notes	0.147
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Secured loans | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.020
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Secured loans | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.112
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Secured loans | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.034
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Subordinated notes | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.090
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Subordinated notes | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.148
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Subordinated notes | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.147
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Preferred equity
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.150
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Preferred equity | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.150
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Other liabilities | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.035
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Other liabilities | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.075
Consolidated Variable Interest Entities | Level III | Discount rate | Discounted cash flow | Other liabilities | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	0.055
Consolidated Variable Interest Entities | Level III | Discount rate | Dividend discount model | Equity Securities | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.090
Consolidated Variable Interest Entities | Level III | Discount rate | Dividend discount model | Equity Securities | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.135
Consolidated Variable Interest Entities | Level III | Discount rate | Dividend discount model | Equity Securities | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.107
Consolidated Variable Interest Entities | Level III | Capitalization rate | Discounted cash flow | Real Estate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input	0.058
Consolidated Variable Interest Entities | Level III | Capitalization rate | Discounted cash flow | Real Estate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input	0.083
Consolidated Variable Interest Entities | Level III | Capitalization rate | Discounted cash flow | Real Estate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input	0.069
Consolidated Variable Interest Entities | Level III | Capitalization rate | Direct capitalization | Real Estate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input	0.055
Consolidated Variable Interest Entities | Level III | Capitalization rate | Direct capitalization | Real Estate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input	0.088
Consolidated Variable Interest Entities | Level III | Capitalization rate | Direct capitalization | Real Estate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input	0.066
Consolidated Variable Interest Entities | Level III | TEV / EBITDA | Guideline public company | Bank Loans | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	1.3
Consolidated Variable Interest Entities | Level III | TEV / EBITDA | Guideline public company | Bank Loans | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	16.8
Consolidated Variable Interest Entities | Level III | TEV / EBITDA | Guideline public company | Bank Loans | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	10.4
Consolidated Variable Interest Entities | Level III | NTAV multiple | Market comparable companies | Equity Securities | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.34
Consolidated Variable Interest Entities | Level III | NTAV multiple | Market comparable companies | Equity Securities | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	1.2
Consolidated Variable Interest Entities | Level III | NTAV multiple | Market comparable companies | Equity Securities | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.9
Consolidated Variable Interest Entities | Level III | P/E multiple | Market comparable companies | Equity Securities
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	7.7
Consolidated Variable Interest Entities | Level III | P/E multiple | Market comparable companies | Equity Securities | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	7.7
Consolidated Variable Interest Entities | Level III | Purchase multiple | Adjusted transaction value | Equity Securities
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	1.12
Consolidated Variable Interest Entities | Level III | Purchase multiple | Adjusted transaction value | Equity Securities | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	1.12
Consolidated Variable Interest Entities | Level III | Volatility | Option model | Warrants | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Warrants, measurement input	0.490
Consolidated Variable Interest Entities | Level III | Volatility | Option model | Warrants | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Warrants, measurement input	0.625
Consolidated Variable Interest Entities | Level III | Volatility | Option model | Warrants | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Warrants, measurement input	0.528
Consolidated Variable Interest Entities | Level III | TEV / Revenue | Guideline public company | Bank Loans
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	1.4
Consolidated Variable Interest Entities | Level III | TEV / Revenue | Guideline public company | Bank Loans | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	1.4
Consolidated Variable Interest Entities | Level III | TEV / LTM EBITDA | Guideline public company | Other liabilities
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	5.3
Consolidated Variable Interest Entities | Level III | TEV / LTM EBITDA | Guideline public company | Other liabilities | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input	5.3
Consolidated Variable Interest Entities | Level III | Book value multiple | Book value multiple | Equity Securities
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input			0.61
Consolidated Variable Interest Entities | Level III | Book value multiple | Book value multiple | Equity Securities | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input			0.61

FAIR VALUE MEASUREMENTS OF FI_7

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Narrative (Details) - Investment in Athene Holding - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market price (in USD per share)	$ 34.08	$ 47.03
DLOM percent	16.80%

OTHER ASSETS - Schedule of Othe

OTHER ASSETS - Schedule of Other Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fixed assets	$ 180,793		$ 138,359
Less: Accumulated depreciation and amortization	(108,044)		(96,347)
Fixed assets, net	72,749		42,012
Deferred equity-based compensation	85,967		132,422
Prepaid expenses	44,178		55,189
Intangible assets, net	25,161		20,615
Tax receivables	57,064		48,106
Other	33,605		28,105
Total Other Assets	318,724		$ 326,449
Other liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of grants	$ 57,500	$ 112,400

OTHER ASSETS - Narrative (Detai

OTHER ASSETS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Depreciation	$ 1.8	$ 2.5	$ 4.9	$ 7.1

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 9,587	$ 11,249	$ 35,566	$ 30,537

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating cash flows for operating leases	$ 5,404	$ 582	$ 19,360	$ 20,212

LEASES - Lease Payments by Matu

LEASES - Lease Payments by Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Operating Lease Payments
Remaining 2020	$ 5,915
2021	36,959	$ 28,094
2022	36,168	40,516
2023	33,578	51,184
2024	31,030	49,383
Thereafter	270,469
Total lease payments	414,119	684,112
Less imputed interest	(77,350)
Present value of lease payments	$ 336,769	$ 209,479

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Millions	Sep. 30, 2020USD ($)
Leases [Abstract]
Lease not yet commenced, amount	$ 250.6
Lease not yet commenced, term	15 years

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details)	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted average remaining lease term (in years)	13 years 8 months 12 days	12 years 6 months
Weighted average discount rate	3.10%	1.60%

LEASES - Aggregate Minimum Futu

LEASES - Aggregate Minimum Future Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 36,959	$ 28,094
2022	36,168	40,516
2023	33,578	51,184
2024	31,030	49,383
2024		47,237
Thereafter		467,698
Total lease payments	$ 414,119	$ 684,112

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax (provision) benefit	$ (89,357,000)	$ 231,896,000	$ 66,173,000	$ 195,345,000
Effective tax rate	11.70%	(80.20%)	9.80%	(19.90%)
Unrecognized tax benefits	$ 0		$ 0
Unremitted foreign earnings	$ 0		$ 0
Period of recognition for tax intangibles			15 years

INCOME TAXES - Impact of Exchan

INCOME TAXES - Impact of Exchange of AOG Units (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Increase in Deferred Tax Asset	$ 76,580	$ 168,058
Increase in Tax Receivable Agreement Liability	62,531	39,092
Increase to Additional Paid In Capital	$ 14,049	$ 16,658

DEBT - Summary of Debt (Details

DEBT - Summary of Debt (Details) € in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020EUR (€)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Outstanding Balance	$ 3,151,247		$ 2,650,600
Fair Value	3,535,777		2,912,762
Unamortized debt issuance cost	29,147		26,413
Senior Notes | 2024 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	497,654		497,164
Fair Value	$ 552,105		$ 529,333
Annualized Weighted Average Interest Rate	4.00%	4.00%	4.00%
Unamortized debt issuance cost	$ 1,979		$ 2,394
Senior Notes | 2026 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	497,089		496,704
Fair Value	$ 575,491		$ 540,713
Annualized Weighted Average Interest Rate	4.40%	4.40%	4.40%
Unamortized debt issuance cost	$ 2,662		$ 3,014
Senior Notes | 2029 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	674,749		674,727
Fair Value	$ 792,870		$ 761,780
Annualized Weighted Average Interest Rate	4.87%	4.87%	4.87%
Unamortized debt issuance cost	$ 5,443		$ 5,928
Senior Notes | 2030 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	494,273		0
Fair Value	$ 501,906		$ 0
Annualized Weighted Average Interest Rate	2.65%	2.65%	0.00%
Unamortized debt issuance cost	$ 4,296		$ 0
Senior Notes | 2048 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	296,602		296,510
Fair Value	$ 369,164		$ 350,331
Annualized Weighted Average Interest Rate	5.00%	5.00%	5.00%
Unamortized debt issuance cost	$ 3,101		$ 3,185
Senior Secured Notes | 2039 Senior Secured Guaranteed Notes
Debt Instrument [Line Items]
Outstanding Balance	316,807		316,100
Fair Value	$ 370,392		$ 354,093
Annualized Weighted Average Interest Rate	4.77%	4.77%	4.77%
Unamortized debt issuance cost	$ 8,193		$ 8,900
Subordinated notes | 2050 Subordinated Notes
Debt Instrument [Line Items]
Outstanding Balance	296,527		297,008
Fair Value	$ 296,625		$ 304,125
Annualized Weighted Average Interest Rate	4.95%	4.95%	4.95%
Unamortized debt issuance cost	$ 3,473		$ 2,992
AMI Term Facility | Secured Borrowing
Debt Instrument [Line Items]
Outstanding Balance	18,734		17,921
Fair Value	$ 18,624		$ 17,921
Annualized Weighted Average Interest Rate	1.84%	1.84%	1.99%
Loan Amount | €		€ 15,984
Debt instrument term	10 years 10 months 24 days
AMI Term Facility | Secured Borrowing II
Debt Instrument [Line Items]
Outstanding Balance	$ 19,925		$ 0
Fair Value	$ 19,713		$ 0
Annualized Weighted Average Interest Rate	1.71%	1.71%	0.00%
Loan Amount | €		€ 17,000
AMI Term Facility | 2014 AMI Term Facility II
Debt Instrument [Line Items]
Outstanding Balance	$ 0		$ 17,266
Fair Value	$ 0		$ 17,266
Annualized Weighted Average Interest Rate	0.00%	0.00%	1.75%
AMI Term Facility | 2016 AMI Term Facility I
Debt Instrument [Line Items]
Outstanding Balance	$ 19,773		$ 18,915
Fair Value	$ 19,773		$ 18,915
Annualized Weighted Average Interest Rate	1.30%	1.30%	1.30%
Loan Amount | €		€ 16,870
AMI Term Facility | 2016 AMI Term Facility II
Debt Instrument [Line Items]
Outstanding Balance	$ 19,114		$ 18,285
Fair Value	$ 19,114		$ 18,285
Annualized Weighted Average Interest Rate	1.40%	1.40%	1.40%
Loan Amount | €		€ 16,308

DEBT - Narrative (Details)

DEBT - Narrative (Details)	Jul. 11, 2018USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 05, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 17, 2019USD ($)	Jun. 11, 2019USD ($)	Jun. 10, 2019USD ($)	Feb. 07, 2019USD ($)	Mar. 15, 2018USD ($)	May 27, 2016USD ($)	May 30, 2014USD ($)
Debt Instrument [Line Items]
Debt		$ 3,151,247,000			$ 2,650,600,000
Principal payments on debt		$ 16,990,000	$ 29,000
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%
Senior Notes | 2024 Senior Notes
Debt Instrument [Line Items]
Debt		$ 497,654,000			497,164,000
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		497,089,000			496,704,000
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		674,749,000			674,727,000
Debt, face amount		675,000,000					$ 125,000,000		$ 550,000,000
Debt, interest rate									4.872%
Debt issuance price (as a percent)							104.812%		99.999%
Senior Notes | 2030 Senior Notes
Debt Instrument [Line Items]
Debt		494,273,000			0
Debt, face amount				$ 500,000,000
Debt, interest rate				2.65%
Debt issuance price (as a percent)				99.704%
Senior Notes | 2048 Senior Notes
Debt Instrument [Line Items]
Debt		296,602,000			296,510,000
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		316,807,000			316,100,000
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		$ 296,527,000			$ 297,008,000
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	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Total Interest Expense	$ 34,889	$ 27,833	$ 98,422	$ 70,243
Line of Credit | AMI Term Facilities/Secured Borrowings
Debt Instrument [Line Items]
Total Interest Expense	454	402	1,083	980
Revolving Credit Facility | 2018 AMH Credit Facility
Debt Instrument [Line Items]
Total Interest Expense	316	334	945	961
Senior Notes | 2024 Senior Notes
Debt Instrument [Line Items]
Total Interest Expense	5,163	5,163	15,489	15,489
Senior Notes | 2026 Senior Notes
Debt Instrument [Line Items]
Total Interest Expense	5,628	5,629	16,885	16,885
Senior Notes | 2029 Senior Notes
Debt Instrument [Line Items]
Total Interest Expense	8,229	8,412	24,687	19,514
Senior Notes | 2030 Senior Notes
Debt Instrument [Line Items]
Total Interest Expense	3,465	0	4,428	0
Senior Notes | 2048 Senior Notes
Debt Instrument [Line Items]
Total Interest Expense	3,781	3,781	11,343	11,343
Subordinated notes | 2050 Subordinated Notes
Debt Instrument [Line Items]
Total Interest Expense	3,742	0	11,228	0
Senior Secured Notes | 2039 Senior Secured Guaranteed Notes
Debt Instrument [Line Items]
Total Interest Expense	$ 4,111	$ 4,112	$ 12,334	$ 5,071

NET INCOME (LOSS) PER SHARE O_3

NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK - Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 31, 2020	May 29, 2020	Apr. 15, 2020	Feb. 28, 2020	Nov. 29, 2019	Sep. 26, 2019	Aug. 15, 2019	Jul. 31, 2019	May 02, 2019	Apr. 12, 2019	Feb. 28, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Numerator:
Dividends	$ (212,100)	$ (181,900)	$ (43,000)	$ (361,200)	$ (201,600)	$ (17,800)	$ (4,100)	$ (201,400)	$ (185,200)	$ (45,400)	$ (226,600)			$ (798,200)		$ (882,100)
Earnings allocable to participating securities												$ (5,853)	$ (11,440)	0	$ (16,003)
RSUs
Numerator:
Dividends												(4,008)	(4,450)	(14,863)	(13,524)
Dilution effect on distributable income attributable to unvested RSUs												$ 0	$ 1,200	$ 0	$ 2,355
Denominator:
Dilution effect of unvested RSUs (in shares)												0	1,843,680	0	1,657,627
Class A Common Stock
Numerator:
Net income (loss) attributable to Apollo Global Management, Inc. Class A Common Stockholders												$ 263,236	$ 354,106	$ (304,982)	$ 649,658
Dividends	$ (112,100)	$ (96,200)	$ 0	$ (205,600)	$ (111,500)	$ 0	$ 0	$ (100,400)	$ (92,200)	$ 0	$ (113,300)	(112,075)	(100,355)	(413,858)	(305,901)	$ (417,400)
Undistributed income (loss) attributable to Class A Common Stockholders: Basic												141,300	237,861	(733,703)	314,230
Undistributed income (loss) attributable to Class A Common Stockholders: Diluted												$ 141,300	$ 239,061	$ (733,703)	$ 316,585
Denominator:
Weighted Average Number of Shares of Class A Common Stock Outstanding – Basic (in shares)												227,771,678	205,797,643	227,395,847	202,087,827
Weighted Average Number of Shares of Class A Common Stock Outstanding – Diluted (in shares)												227,771,678	207,641,323	227,395,847	203,745,454
Net Income per share of Class A Common Stock: Basic
Distributed Income (in USD per share)												$ 0.49	$ 0.50	$ 1.80	$ 1.52
Undistributed Income (Loss) (in USD per share)												0.62	1.14	(3.21)	1.55
Net Income (Loss) Available to Class A Common Stock – Basic (in USD per share)												1.11	1.64	(1.41)	3.07
Net Income per share of Class A Common Stock: Diluted
Distributed Income (in USD per share)												0.49	0.49	1.80	1.51
Undistributed Income (Loss) (in USD per share)												0.62	1.14	(3.21)	1.55
Net Income (Loss) Available to Class A Common Stock – Diluted (in USD per share)												$ 1.11	$ 1.63	$ (1.41)	$ 3.06

NET INCOME (LOSS) PER SHARE O_4

NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK - Narrative (Details)	9 Months Ended
	Sep. 30, 2020USD ($)votegrantshares	Sep. 30, 2019	Dec. 31, 2019shares
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)	228,747,302		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		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	47.20%	44.80%
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 (LOSS) PER SHARE O_5

NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK - Weighted Average Shares Issued (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Weighted average vested/unvested RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average vested RSUs	137,606	109,317	600,651	527,476
Weighted average unvested units	8,149,823		7,831,201
Weighted average unexercised options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average unexercised options	0	200,000	0	202,778
Weighted average AOG Units outstanding(1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average unvested units	174,873,808	195,985,046	175,447,257	200,149,596
Weighted average unvested restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average unvested units	1,148,241	954,304	1,212,620	989,684

EQUITY-BASED COMPENSATION - RSU

EQUITY-BASED COMPENSATION - RSUs, Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 49,726,000	$ 42,665,000	$ 161,268,000	$ 132,404,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Granted (in shares)			4,364,141
Fair value of grants			$ 185,100,000	102,200,000
Equity-based compensation	40,473,000	33,771,000	$ 133,273,000	101,709,000
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]
Equity-based compensation	$ 19,925,000	$ 16,456,000	$ 77,255,000	$ 45,587,000
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
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			2,100,000	1,300,000
Fair value of grants			$ 81,500,000	$ 27,600,000
RSUs | Yeah Over Year Growth Earnings Metrics | Certain Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	300,000
Fair value of grants	$ 11,700,000
Performance RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation			$ 0

EQUITY-BASED COMPENSATION - R_2

EQUITY-BASED COMPENSATION - RSUs, Equity-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 49,726	$ 42,665	$ 161,268	$ 132,404
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture rate	0.50%	0.50%	6.80%	1.70%
Equity-based compensation	$ 40,473	$ 33,771	$ 133,273	$ 101,709

EQUITY-BASED COMPENSATION - R_3

EQUITY-BASED COMPENSATION - RSUs Activity (Details) - RSUs	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Unvested
Beginning balance (in shares)	9,784,693
Granted (in shares)	4,364,141
Forfeited (in shares)	(949,090)
Vested (in shares)	(2,486,605)
Ending balance (in shares)	10,713,139
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share) | $ / shares	$ 26.38
Granted (in USD per share) | $ / shares	42.42
Forfeited (in USD per share) | $ / shares	22.83
Vested (in USD per share) | $ / shares	30.46
Issued (in USD per share) | $ / shares	28.20
Ending balance (in USD per share) | $ / shares	$ 32.28
Total Number of RSUs Outstanding
Beginning balance (in shares)	12,134,311
Granted (in shares)	4,364,141
Forfeited (in shares)	(966,275)
Vested (in shares)	2,486,605
Issued (in shares)	(4,661,031)
Ending balance (in shares)	10,871,146
Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years 3 months 18 days
Vested
Unvested
Vested (in shares)	(2,486,605)
Total Number of RSUs Outstanding
Beginning balance (in shares)	2,349,618
Forfeited (in shares)	(17,185)
Vested (in shares)	2,486,605
Issued (in shares)	(4,661,031)
Ending balance (in shares)	158,007

EQUITY-BASED COMPENSATION - Res

EQUITY-BASED COMPENSATION - Restricted Share Awards Equity-based Compensation Expense and Actual Forfeiture Rates (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 49,726	$ 42,665	$ 161,268	$ 132,404

EQUITY-BASED COMPENSATION - Rec

EQUITY-BASED COMPENSATION - Reconciliation of Equity-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 49,726	$ 42,665	$ 161,268	$ 132,404
Non-Controlling Interests in Apollo Operating Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation			3,898	8,576
Less other equity-based compensation awards			(3,898)	(8,576)
Capital increase related to equity-based compensation			0	0
Allocated to Apollo Global Management, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation			157,370	123,828
Less other equity-based compensation awards			(23,520)	(21,639)
Capital increase related to equity-based compensation			133,850	102,189
RSUs, share options and restricted share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation			152,998	113,254
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
Non-Controlling Interest % in Apollo Operating Group			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			$ 152,998	$ 113,254
Other equity-based compensation awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation			8,270	19,150
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			$ 3,898	$ 8,576
Non-Controlling Interest % in Apollo Operating Group			47.10%	44.80%
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			$ 4,372	$ 10,574

EQUITY - Common Stock, Narrativ

EQUITY - Common Stock, Narrative (Details) - USD ($)	Feb. 28, 2020	Jan. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 12, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Increase in authorized repurchased amount		$ 250,000,000
Authorized common stock for repurchase (up to)		$ 500,000,000					$ 500,000,000
Repurchases and canceled amount			$ (27,412,000)	$ (4,610,000)	$ (91,617,000)	$ (110,726,000)
Class A Common Stock
Class of Stock [Line Items]
Conversion of stock, shares issued					1
Common stock, shares issued			228,747,302		228,747,302			222,994,407
Common stock, shares outstanding			228,747,302		228,747,302			222,994,407
Stock repurchase, unused capacity							$ 80,000,000
Repurchase of Class A Common Stock (in shares)					(2,735,546)	(3,453,901)
Repurchases and canceled amount					$ (90,700,000)	$ (102,400,000)
Class B Common Stock
Class of Stock [Line Items]
Conversion of stock, shares issued					1
Common stock, shares issued			1		1			1
Common stock, shares outstanding			1		1			1
Class C Common Stock
Class of Stock [Line Items]
Common stock, shares issued			1		1			1
Common stock, shares outstanding			1		1			1
Class C Common Stock | Former Manager
Class of Stock [Line Items]
Common stock, shares issued			1		1
Athene Holding
Class of Stock [Line Items]
Equity interests issued (in shares)	29,154,519
Apollo Operating Group | Athene Holding
Class of Stock [Line Items]
Ownership percentage by noncontrolling owners			6.70%		6.70%

EQUITY - Class A Common Stock A

EQUITY - Class A Common Stock Activity (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Class of Stock [Line Items]
Issuance of shares of Class A Common Stock for equity-based awards (in shares)	3,270,490	2,457,256
Cash paid for tax liabilities	$ 91.9	$ 48.8
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)	4,661,031	4,146,944
Gross value of shares issued	$ 216.8	$ 127.2
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)	(1,972,369)	(1,585,734)
Vesting period	3 years
Restricted shares forfeited (in shares)	(949,090)
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)	581,828	(103,954)
Restricted shares forfeited (in shares)	(54,597)	(1,865)
Class A Common Stock | Reduction of shares of Class A Common Stock issued
Class of Stock [Line Items]
Restricted shares issued (in shares)	168,591	102,089
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 (in shares)	636,425	163,024
Common stock shares repurchased (in shares)	(19,549)	(265,113)

EQUITY - Preferred Stock Issuan

EQUITY - Preferred Stock Issuance, Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 19, 2018	Mar. 07, 2017	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 05, 2019
Class of Stock [Line Items]
Issuance of preferred shares, net of issuance costs	$ 289.8	$ 264.4
Series A Preferred Share
Class of Stock [Line Items]
Preferred stock, shares issued		11,000,000
Dividend rate per annum		6.375%
Issuance of preferred shares, net of issuance costs		$ 275
Series B Preferred Share
Class of Stock [Line Items]
Preferred stock, shares issued	12,000,000
Dividend rate per annum	6.375%
Issuance of preferred shares, net of issuance costs	$ 300
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued			11,000,000	11,000,000	11,000,000
Preferred stock, shares outstanding			11,000,000	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, 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	12,000,000
Preferred stock, shares outstanding			12,000,000	12,000,000	12,000,000
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, 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	Aug. 31, 2020	May 29, 2020	Apr. 15, 2020	Feb. 28, 2020	Nov. 29, 2019	Sep. 26, 2019	Aug. 15, 2019	Jul. 31, 2019	May 02, 2019	Apr. 12, 2019	Feb. 28, 2019	Apr. 30, 2020	Apr. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Class of Stock [Line Items]
Dividends/Distributions	$ 212,100	$ 181,900	$ 43,000	$ 361,200	$ 201,600	$ 17,800	$ 4,100	$ 201,400	$ 185,200	$ 45,400	$ 226,600					$ 798,200		$ 882,100
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	$ 100,000	$ 85,700	$ 43,000	$ 155,600	$ 90,100	$ 17,800	$ 4,100	$ 101,000	$ 93,000	$ 45,400	$ 113,300	$ 43,000	$ 37,400			$ 384,300		$ 464,700
Distribution made (in USD per share)												$ 0.21	$ 0.18
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)	$ 0.49	$ 0.42	$ 0	$ 0.89	$ 0.50	$ 0	$ 0	$ 0.50	$ 0.46	$ 0	$ 0.56					$ 1.80		$ 2.02
Dividends/Distributions	$ 112,100	$ 96,200	$ 0	$ 205,600	$ 111,500	$ 0	$ 0	$ 100,400	$ 92,200	$ 0	$ 113,300			$ 112,075	$ 100,355	$ 413,858	$ 305,901	$ 417,400
Distribution made (in USD per share)														$ 0.49	$ 0.50	$ 1.80	$ 1.52
Distribution Equivalents on Participating Securities
Class of Stock [Line Items]
Dividends/Distributions	$ 4,000	$ 3,600	$ 0	$ 7,200	$ 4,400	$ 0	$ 0	$ 4,400	$ 4,100	$ 0	$ 5,000					$ 14,800		$ 17,900

EQUITY - Interests in Consolida

EQUITY - Interests in Consolidated Entities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net income (loss) attributable to Non-Controlling Interests in consolidated entities:
Net income attributable to Non-Controlling Interests in consolidated entities	$ 403,700	$ 157,824	$ (331,169)	$ 501,672
Net income (loss) attributable to Non-Controlling Interests in the Apollo Operating Group:
Net Income (Loss)	676,099	521,094	(608,659)	1,178,822
Net income (loss) attributable to Non-Controlling Interests in consolidated entities	(403,700)	(157,824)	331,169	(501,672)
Net Income (Loss) Attributable to Apollo Global Management, Inc.	272,399	363,270	(277,490)	677,150
Adjustments:
Income tax provision (benefit)	89,357	(231,896)	(66,173)	(195,345)
NYC UBT and foreign tax benefit	(11,966)	(1,913)	(22,609)	(6,286)
Net income (loss) in non-Apollo Operating Group entities	(272,399)	(363,270)	277,490	(677,150)
Total adjustments	68,274	(204,249)	(116,210)	(189,853)
Net income (loss) after adjustments	676,099	521,094	(608,659)	1,178,822
Other comprehensive income (loss) attributable to Non-Controlling Interests	13,081	(12,999)	12,263	(16,053)
Comprehensive Income (Loss) attributable to Non-Controlling Interests	416,781	144,825	(318,906)	485,619
Series A Preferred Stock
Adjustments:
Preferred Stock Dividends	(4,382)	(4,382)	(13,148)	(13,148)
Series B Preferred Stock
Adjustments:
Preferred Stock Dividends	(4,781)	(4,782)	(14,344)	(14,344)
Other consolidated entities
Net income (loss) attributable to Non-Controlling Interests in consolidated entities:
Net income attributable to Non-Controlling Interests in consolidated entities	98,984	6,256	(25,636)	18,035
Net income (loss) attributable to Non-Controlling Interests in the Apollo Operating Group:
Net income (loss) attributable to Non-Controlling Interests in consolidated entities	(98,984)	(6,256)	25,636	(18,035)
Consolidated entities
Net income (loss) attributable to Non-Controlling Interests in consolidated entities:
Net income attributable to Non-Controlling Interests in consolidated entities	100,021	7,083	(23,320)	20,888
Net income (loss) attributable to Non-Controlling Interests in the Apollo Operating Group:
Net Income (Loss)	644,352	309,762	(701,549)	968,081
Net income (loss) attributable to Non-Controlling Interests in consolidated entities	(100,021)	(7,083)	23,320	(20,888)
Net Income (Loss) Attributable to Apollo Global Management, Inc.	576,078	514,011	(585,339)	1,157,934
Adjustments:
Net income (loss) in non-Apollo Operating Group entities	(576,078)	(514,011)	585,339	(1,157,934)
Net income (loss) after adjustments	644,352	309,762	(701,549)	968,081
Interest in management companies and a co-investment vehicle
Net income (loss) attributable to Non-Controlling Interests in consolidated entities:
Net income attributable to Non-Controlling Interests in consolidated entities	1,037	827	2,316	2,853
Net income (loss) attributable to Non-Controlling Interests in the Apollo Operating Group:
Net income (loss) attributable to Non-Controlling Interests in consolidated entities	(1,037)	(827)	(2,316)	(2,853)
Apollo Operating Group
Net income (loss) attributable to Non-Controlling Interests in consolidated entities:
Net income attributable to Non-Controlling Interests in consolidated entities	303,679	150,741	(307,849)	480,784
Net income (loss) attributable to Non-Controlling Interests in the Apollo Operating Group:
Net income (loss) attributable to Non-Controlling Interests in consolidated entities	(303,679)	(150,741)	307,849	(480,784)
Net Income (Loss) Attributable to Apollo Global Management, Inc.	(46)	(38,724)	(64)	(39,270)
Adjustments:
Net income (loss) in non-Apollo Operating Group entities	$ 46	$ 38,724	$ 64	$ 39,270
Weighted average ownership percentage of Apollo Operating Group	47.10%	48.70%	46.70%	49.60%

RELATED PARTY TRANSACTIONS AN_3

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Due from and Due to Affiliates (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Due from Related Parties:
Total Due from Related Parties	$ 487,453	$ 415,069
Due to Related Parties:
Total Due to Related Parties	712,186	501,387
Due to Managing Partners and Contributing Partners
Due to Related Parties:
Total Due to Related Parties	316,387	302,050
Due from/to credit funds
Due from Related Parties:
Total Due from Related Parties	172,570	186,495
Due to Related Parties:
Total Due to Related Parties	8,375	7,213
Due from/to private equity funds
Due from Related Parties:
Total Due from Related Parties	34,926	27,724
Due to Related Parties:
Total Due to Related Parties	349,483	191,620
Due from/to real assets funds
Due from Related Parties:
Total Due from Related Parties	29,749	26,626
Due to Related Parties:
Total Due to Related Parties	37,941	504
Due from portfolio companies
Due from Related Parties:
Total Due from Related Parties	49,826	53,394
Due from Contributing Partners, employees and former employees
Due from Related Parties:
Total Due from Related Parties	$ 200,382	$ 120,830

RELATED PARTY TRANSACTIONS AN_4

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Tax Receivable Agreement (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 31, 2020	May 29, 2020	Apr. 15, 2020	Feb. 28, 2020	Nov. 29, 2019	Sep. 26, 2019	Aug. 15, 2019	Jul. 31, 2019	May 02, 2019	Apr. 12, 2019	Feb. 28, 2019	Apr. 30, 2020	Apr. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Percentage of amount of cash savings														15.00%
Recorded liability														$ 62,531	$ 39,092
Cash payment on tax receivable agreement												$ 48,200	$ 37,200	48,195	$ 37,234
Distribution to Non-Controlling Interest Holders in the Apollo Operating Group
Related Party Transaction [Line Items]
Pro rate distribution	$ 100,000	$ 85,700	$ 43,000	$ 155,600	$ 90,100	$ 17,800	$ 4,100	$ 101,000	$ 93,000	$ 45,400	$ 113,300	$ 43,000	$ 37,400	$ 384,300		$ 464,700
Distribution made (in USD per share)												$ 0.21	$ 0.18
Managing Partners
Related Party Transaction [Line Items]
Percentage of amount of cash savings														85.00%

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	Sep. 30, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Loans to related party	$ 17.4	$ 17.1
Loans due upon liquidation of fund	$ 174.6	$ 88.5

RELATED PARTY TRANSACTIONS AN_6

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Indemnity (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Indemnity liability	$ 12.8	$ 12.7

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	Sep. 30, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
General partner obligation	$ 385,113	$ 189,252
Credit
Related Party Transaction [Line Items]
General partner obligation	0	0
Private Equity
Related Party Transaction [Line Items]
General partner obligation	348,418	189,252
Real Assets
Related Party Transaction [Line Items]
General partner obligation	$ 36,695	$ 0

RELATED PARTY TRANSACTIONS AN_8

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Athene (Details) - USD ($) $ in Thousands	Sep. 20, 2018	Sep. 30, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Asset threshold		$ 18,627,870	$ 8,542,117
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, 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)	9 Months Ended
	Sep. 30, 2020
Related Party Transaction [Line Items]
Sub-allocation fees, maximum percentage of assets	10.00%
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) - Athene Holding - USD ($) $ in Millions	Feb. 28, 2020	Oct. 27, 2019
Related Party Transaction [Line Items]
Equity interests issued (in shares)	29,154,519
Class A Common Share
Related Party Transaction [Line Items]
Stock to be issued during period, shares	35,534,942
Purchases of investments	$ 350
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%

RELATED PARTY TRANSACTIONS A_11

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Liquidity Agreement (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Feb. 28, 2020	Dec. 31, 2019
Liquidity Agreement | Class A Common Stock
Related Party Transaction [Line Items]
Exchange of AOG Units for Class A Common Stock	$ 50,000,000
Minimum ownership percentage	3.50%
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%
Athene Holding | Athene Holding
Related Party Transaction [Line Items]
Incremental interest purchased		17.00%
Ownership percentage	28.50%	28.00%	11.30%
Ownership percentage, including shares and warrants owned by related parties		35.00%

RELATED PARTY TRANSACTIONS A_12

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Athora Sub-Advised (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Athene Holding
Related Party Transaction [Line Items]
Management fee rate	0.225%
Equity Investments | Affiliated Entity | Athora | Advisory Services
Related Party Transaction [Line Items]
Other commitment	$ 320.5
Other commitment, subject to certain conditions	$ 293

RELATED PARTY TRANSACTIONS A_13

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Performance Allocations and Revenues Earned (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Related Party Transaction [Line Items]
Net change in unrealized gains (losses) due to changes in fair value	$ 144,317	$ (19,790)	$ (853,443)	$ 44,054
Athene, Athora and AAA Investments
Related Party Transaction [Line Items]
Revenues earned in aggregate from Athene, Athora and AAA Investments, net	363,746	141,273	(297,924)	505,780
Net change in unrealized gains (losses) due to changes in fair value	$ 145,000	$ (19,200)	$ (851,400)	$ 42,600

RELATED PARTY TRANSACTIONS A_14

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

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Investment Commitments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Unfunded capital commitments	$ 1,000	$ 1,100
Fund IX
Other Commitments [Line Items]
Unfunded capital commitments	$ 351.1	$ 394

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Litigation and Contingencies (Details) $ in Thousands

Jun. 08, 2020defendantclaim

Jun. 03, 2020defendant

May 29, 2020defendant

Feb. 14, 2020

Oct. 21, 2019shareholder

Jan. 15, 2019shareholder

Dec. 06, 2018EUR (€)

Jul. 12, 2018USD ($)

Feb. 09, 2018EUR (€)

Dec. 21, 2017USD ($)defendant

Jun. 20, 2016EUR (€)

Mar. 31, 2020defendant

May 31, 2018shareholder

Sep. 30, 2020USD ($)

Dec. 31, 2019USD ($)

Long-term Purchase Commitment [Line Items]

Amount of loans | $

$ 3,151,247

$ 2,650,600

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

Number of suits (in litigation) | claim

3

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

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

5

ADT Inc. Shareholder Litigation

Long-term Purchase Commitment [Line Items]

Number of defendants | shareholder

3

Number of suits (in litigation) | shareholder

5

Caldera Litigation, Index No. 652175/2018

Long-term Purchase Commitment [Line Items]

Damages sought | $

$ 1,500,000

Firefighters Pension System Of City Of Kansas City, Missouri Trust V. Presidio, Inc. | Director

Long-term Purchase Commitment [Line Items]

Number of defendants | shareholder

5

Benjamin Fongers v. CareerBuilder, LLC And AGM Inc.

Long-term Purchase Commitment [Line Items]

Period for defendants to respond after court ruling

21 days

Frank Funds v. Apollo Global Management | Officers And Employees

Long-term Purchase Commitment [Line Items]

Number of defendants

3

Appraisal Of MPM Holdings, Inc. | Officers And Employees

Long-term Purchase Commitment [Line Items]

Number of defendants

3

Vrajeshkumar Patel v. Talos Energy, Inc., Riverstone Holdings, LLC, AGM Inc., And Guggenheim Securities, LLC | Partners

Long-term Purchase Commitment [Line Items]

Number of defendants

2

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

SkyTerra | Harbinger Capital Partners II LP et al. v. Apollo Global Management Inc, et al. (No. 657515/2017)

Long-term Purchase Commitment [Line Items]

Number of defendants

8

SkyTerra | Harbinger Capital Partners II LP et al. v. Apollo Global Management Inc, et al. (No. 657515/2017) | Executive Officer

Long-term Purchase Commitment [Line Items]

Number of defendants

2

SkyTerra | Harbinger Capital Partners II LP et al. v. Apollo Global Management Inc, et al. (No. 657515/2017) | Consultant

Long-term Purchase Commitment [Line Items]

Number of defendants

1

Entities, Harbinger's Counterparties, TVCC One Six Holdings LLC | Harbinger Capital Partners II LP et al. v. Apollo Global Management Inc, et al. (No. 657515/2017)

Long-term Purchase Commitment [Line Items]

Number of defendants

5

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Summary of Fixed and Determinable Payments (Details) - Other long-term obligations $ in Thousands	Sep. 30, 2020USD ($)
Other Commitments [Line Items]
Remaining 2020	$ 9,347
2021	9,908
2022	1,947
2023	703
2024	703
Thereafter	0
Total	$ 22,608

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Contingent Obligations (Details) $ in Billions	Sep. 30, 2020USD ($)subsidiary	Dec. 31, 2019USD ($)
Variable Interest Entity [Line Items]
Unfunded contingent commitments	$ 1	$ 1.1
Underwriting Commitments | AGS
Variable Interest Entity [Line Items]
Number of subsidiaries | subsidiary	1
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Cumulative revenues recognized if existing investments become worthless	$ 2

COMMITMENTS AND CONTINGENCIES_5

COMMITMENTS AND CONTINGENCIES - Contingent Consideration (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Fair value of the contingent obligation	$ 103.3	$ 112.5

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details)	9 Months Ended
	Sep. 30, 2020segment
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Performance fees	$ 459,241	$ 254,103	$ (350,483)	$ 682,462
Fee Related Revenues	1,018,274	702,721	1,057,523	2,017,077
Salary, bonus and benefits	(163,197)	(126,695)	(453,485)	(369,527)
General, administrative and other	(90,822)	(85,313)	(259,073)	(238,814)
Placement fees	(612)	(256)	(1,380)	(591)
Fee Related Expenses	(531,055)	(371,372)	(905,398)	(1,091,914)
Other income (loss), net of Non-Controlling Interest	10,161	(43,144)	(3,019)	(36,451)
Segment Distributable Earnings	245,509	252,524	677,428	738,491
Total Assets	18,627,870		18,627,870		$ 8,542,117
Management fees
Segment Reporting Information [Line Items]
Revenues	433,570	394,547	1,240,127	1,162,788
Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues	73,449	16,440	172,369	67,133
Total reportable segment assets
Segment Reporting Information [Line Items]
Performance fees	2,204	6,449	8,048	16,371
Fee Related Revenues	519,661	482,349	1,493,876	1,385,483
Salary, bonus and benefits	(144,939)	(116,859)	(403,959)	(332,853)
General, administrative and other	(77,335)	(70,740)	(217,491)	(196,929)
Placement fees	(613)	(256)	(1,384)	(591)
Fee Related Expenses	(240,332)	(211,678)	(716,862)	(608,641)
Other income (loss), net of Non-Controlling Interest	(698)	(738)	(1,965)	5,079
Realized performance fees	17,445	67,434	94,028	164,558
Realized profit sharing expense	(17,445)	(23,823)	(94,028)	(78,268)
Net Realized Performance Fees	0	43,611	0	86,290
Realized principal investment income, net(2)	2,882	14,374	13,684	37,091
Net interest loss and other	(34,806)	(18,251)	(100,990)	(45,957)
Segment Distributable Earnings	245,509	252,524	677,428	738,491
Total Assets	8,021,006		8,021,006		$ 7,337,517
Total reportable segment assets | Management fees
Segment Reporting Information [Line Items]
Revenues	426,452	378,372	1,210,642	1,103,306
Total reportable segment assets | Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues	72,362	16,562	170,843	66,684
Total reportable segment assets | Fee Related Revenues, Expenses and Earnings
Segment Reporting Information [Line Items]
Fee Related Revenues	501,018	401,383	1,389,533	1,186,361
Fee Related Expenses	(222,887)	(187,855)	(622,834)	(530,373)
Fee Related Earnings	277,433	212,790	764,734	661,067
Total reportable segment assets | Credit Segment
Segment Reporting Information [Line Items]
Performance fees	2,204	6,449	8,048	16,371
Salary, bonus and benefits	(61,975)	(51,746)	(171,789)	(146,515)
General, administrative and other	(40,367)	(33,403)	(112,991)	(92,546)
Placement fees	(425)	(190)	(1,089)	(42)
Other income (loss), net of Non-Controlling Interest	(780)	(597)	(2,167)	967
Realized performance fees	7,614	3,530	37,834	24,887
Realized profit sharing expense	(7,614)	(1,674)	(37,530)	(13,069)
Net Realized Performance Fees	0	1,856	304	11,818
Realized principal investment income, net(2)	928	5,845	4,112	16,803
Net interest loss and other	(14,010)	(6,106)	(42,981)	(15,148)
Segment Distributable Earnings	183,110	126,505	440,955	377,480
Total Assets	4,314,160		4,314,160
Total reportable segment assets | Credit Segment | Management fees
Segment Reporting Information [Line Items]
Revenues	246,159	198,867	679,109	571,884
Total reportable segment assets | Credit Segment | Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues	51,376	5,530	80,399	13,888
Total reportable segment assets | Credit Segment | Fee Related Revenues, Expenses and Earnings
Segment Reporting Information [Line Items]
Fee Related Revenues	299,739	210,846	767,556	602,143
Fee Related Expenses	(102,767)	(85,339)	(285,869)	(239,103)
Fee Related Earnings	196,192	124,910	479,520	364,007
Total reportable segment assets | Private Equity Segment
Segment Reporting Information [Line Items]
Performance fees	0	0	0	0
Salary, bonus and benefits	(53,451)	(45,807)	(149,133)	(129,307)
General, administrative and other	(25,099)	(26,603)	(68,863)	(75,427)
Placement fees	(188)	(65)	(295)	(548)
Other income (loss), net of Non-Controlling Interest	23	(135)	48	4,024
Realized performance fees	2,025	63,742	6,717	136,429
Realized profit sharing expense	(2,025)	(22,084)	(7,021)	(63,900)
Net Realized Performance Fees	0	41,658	(304)	72,529
Realized principal investment income, net(2)	1,598	8,114	5,544	18,079
Net interest loss and other	(14,580)	(8,911)	(41,940)	(22,694)
Segment Distributable Earnings	56,857	110,549	211,616	305,481
Total Assets	2,873,066		2,873,066
Total reportable segment assets | Private Equity Segment | Management fees
Segment Reporting Information [Line Items]
Revenues	128,446	131,643	381,306	391,777
Total reportable segment assets | Private Equity Segment | Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues	20,108	10,655	85,253	47,048
Total reportable segment assets | Private Equity Segment | Fee Related Revenues, Expenses and Earnings
Segment Reporting Information [Line Items]
Fee Related Revenues	148,554	142,298	466,559	438,825
Fee Related Expenses	(78,738)	(72,475)	(218,291)	(205,282)
Fee Related Earnings	69,839	69,688	248,316	237,567
Total reportable segment assets | Real Assets Segment
Segment Reporting Information [Line Items]
Performance fees	0	0	0	0
Salary, bonus and benefits	(29,513)	(19,306)	(83,037)	(57,031)
General, administrative and other	(11,869)	(10,734)	(35,637)	(28,956)
Placement fees	0	(1)	0	(1)
Other income (loss), net of Non-Controlling Interest	59	(6)	154	88
Realized performance fees	7,806	162	49,477	3,242
Realized profit sharing expense	(7,806)	(65)	(49,477)	(1,299)
Net Realized Performance Fees	0	97	0	1,943
Realized principal investment income, net(2)	356	415	4,028	2,209
Net interest loss and other	(6,216)	(3,234)	(16,069)	(8,115)
Segment Distributable Earnings	5,542	15,470	24,857	55,530
Total Assets	833,780		833,780
Total reportable segment assets | Real Assets Segment | Management fees
Segment Reporting Information [Line Items]
Revenues	51,847	47,862	150,227	139,645
Total reportable segment assets | Real Assets Segment | Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues	878	377	5,191	5,748
Total reportable segment assets | Real Assets Segment | Fee Related Revenues, Expenses and Earnings
Segment Reporting Information [Line Items]
Fee Related Revenues	52,725	48,239	155,418	145,393
Fee Related Expenses	(41,382)	(30,041)	(118,674)	(85,988)
Fee Related Earnings	$ 11,402	$ 18,192	$ 36,898	$ 59,493

SEGMENT REPORTING - Reconcili_2

SEGMENT REPORTING - Reconciliation of Consolidated to Reportable Segment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 1,018,274	$ 702,721	$ 1,057,523	$ 2,017,077
Performance fees	(459,241)	(254,103)	350,483	(682,462)
Principal investment income	(50,722)	(33,393)	25,506	(99,020)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Equity awards granted by unconsolidated related parties, reimbursable expenses and other	(27,479)	(19,990)	(88,167)	(72,966)
Adjustments related to consolidated funds and VIEs	22,084	4,079	36,798	5,801
Performance fees	(457,754)	(250,642)	358,188	(661,828)
Principal investment income	(54,107)	(34,785)	25,191	(101,723)
Realized performance fees	17,445	67,434	94,028	164,558
Realized principal investment income and other	1,198	13,532	10,315	34,564
Segment Reconciling Items | Fee Related
Segment Reporting Information [Line Items]
Revenues	501,018	401,383	1,389,533	1,186,361
Total reportable segment assets
Segment Reporting Information [Line Items]
Revenues	519,661	482,349	1,493,876	1,385,483
Performance fees	(2,204)	(6,449)	(8,048)	(16,371)
Realized performance fees	17,445	67,434	94,028	164,558
Total reportable segment assets | Fee Related
Segment Reporting Information [Line Items]
Revenues	$ 501,018	$ 401,383	$ 1,389,533	$ 1,186,361

SEGMENT REPORTING - Reconcili_3

SEGMENT REPORTING - Reconciliation of Consolidated to Reportable Segment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Expenses	$ 531,055	$ 371,372	$ 905,398	$ 1,091,914
Equity-based compensation	(49,726)	(42,665)	(161,268)	(132,404)
Total profit sharing expense	(191,809)	(88,610)	68,230	(280,335)
Dividend-related compensation expense	(1,820)	0	(6,180)	0
Segment Reconciling Items
Segment Reporting Information [Line Items]
Equity awards granted by unconsolidated related parties, reimbursable expenses and other	(26,339)	(20,563)	(80,212)	(73,270)
Reclassification of interest expenses	(34,889)	(27,833)	(98,422)	(70,243)
Transaction-related charges, net	(10,835)	(5,201)	(21,546)	(28,799)
Charges associated with corporate conversion	(2,829)	(6,994)	(3,893)	(17,000)
Equity-based compensation	(17,962)	(15,802)	(49,779)	(52,462)
Total profit sharing expense	(213,494)	(107,124)	(22,532)	(319,767)
Realized profit sharing expense	17,445	23,823	94,028	78,268
Segment Reconciling Items | Fee Related
Segment Reporting Information [Line Items]
Expenses	222,887	187,855	622,834	530,373
Total reportable segment assets
Segment Reporting Information [Line Items]
Expenses	240,332	211,678	716,862	608,641
Realized profit sharing expense	17,445	23,823	94,028	78,268
Total reportable segment assets | Fee Related
Segment Reporting Information [Line Items]
Expenses	$ 222,887	$ 187,855	$ 622,834	$ 530,373

SEGMENT REPORTING - Reconcili_4

SEGMENT REPORTING - Reconciliation of Consolidated to Reportable Segment Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Other Income (Loss)	$ 278,237	$ (42,151)	$ (826,957)	$ 58,314
Loss from change in tax receivable agreement liability			0	38,575
Net (gains) losses from investment activities	(144,472)	19,790	851,412	(44,099)
Other Loss, net of Non-Controlling Interest	10,161	(43,144)	(3,019)	(36,451)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Adjustments related to consolidated funds and VIEs	121,425	10,338	(11,157)	(23,839)
Loss from change in tax receivable agreement liability	0	38,575	0	38,575
Net (gains) losses from investment activities	144,839	(19,783)	849,293	(44,095)
Interest income and other, net of Non-Controlling Interest	12,671	6,607	(13,144)	(23,876)
Other Loss, net of Non-Controlling Interest	(698)	(738)	(1,965)	5,079
Net interest loss and other	(33,122)	(17,409)	(97,621)	(43,430)
Total Segments
Segment Reporting Information [Line Items]
Other Income (Loss)	(33,820)	(18,147)	(99,586)	(38,351)
Other Loss, net of Non-Controlling Interest	(698)	(738)	(1,965)	5,079
Net interest loss and other	$ (34,806)	$ (18,251)	$ (100,990)	$ (45,957)

SEGMENT REPORTING - Reconcili_5

SEGMENT REPORTING - Reconciliation of Income (Loss) Before Income Tax Provision to Economic Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Income before income tax provision	$ 765,456	$ 289,198	$ (674,832)	$ 983,477
Loss from change in tax receivable agreement liability			0	38,575
Net income attributable to Non-Controlling Interests in consolidated entities	(403,700)	(157,824)	331,169	(501,672)
Equity-based compensation	49,726	42,665	161,268	132,404
Unrealized net (gains) losses from investment activities and other	(144,317)	19,790	853,443	(44,054)
Segment Distributable Earnings	245,509	252,524	677,428	738,491
Segment Reconciling Items
Segment Reporting Information [Line Items]
Transaction-related charges	10,835	5,201	21,546	28,799
Charges associated with corporate conversion	2,829	6,994	3,893	17,000
Loss from change in tax receivable agreement liability	0	38,575	0	38,575
Net income attributable to Non-Controlling Interests in consolidated entities	(100,021)	(7,083)	23,320	(20,888)
Unrealized performance fees	(440,310)	(183,208)	452,215	(497,270)
Unrealized profit sharing expense	168,368	61,098	(172,128)	177,659
Equity-based profit sharing expense and other	27,681	22,203	100,632	63,840
Equity-based compensation	17,962	15,802	49,779	52,462
Unrealized principal investment (income) loss	(49,406)	(20,411)	45,054	(64,632)
Unrealized net (gains) losses from investment activities and other	$ (157,885)	$ 24,155	$ 827,949	$ (40,531)

SEGMENT REPORTING - Reconcili_6

SEGMENT REPORTING - Reconciliation of Reportable Segments to Total Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Assets	$ 18,627,870	$ 8,542,117
Total reportable segment assets
Segment Reporting Information [Line Items]
Assets	8,021,006	7,337,517
Adjustments
Segment Reporting Information [Line Items]
Assets	$ 10,606,864	$ 1,204,600

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares

Oct. 29, 2020

Aug. 31, 2020

May 29, 2020

Apr. 15, 2020

Feb. 28, 2020

Nov. 29, 2019

Sep. 26, 2019

Aug. 15, 2019

Jul. 31, 2019

May 02, 2019

Apr. 12, 2019

Feb. 28, 2019

Sep. 30, 2020

Sep. 30, 2020

Dec. 31, 2019

Class A Common Stock

Subsequent Event [Line Items]

Dividends declared per share (in USD per share)

$ 0.49

$ 0.42

$ 0

$ 0.89

$ 0.50

$ 0

$ 0

$ 0.50

$ 0.46

$ 0

$ 0.56

$ 1.80

$ 2.02

Series A 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)

$ 0.51

Subsequent Event | Series A Preferred Stock

Subsequent Event [Line Items]

Dividends declared per share (in USD per share)

$ 0.398438