EFTA02676273.pdf

Table nil ontents APOLLO GLOBAL MANAGEMENT. LLC CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION DECEMBER 31, 2014 AND DECEMBER 31,2013 (dollars in thousands, except share data) December 31. 2014 2013 Assets: Cash and cash equivalents S 1.204.052 S 1,078.120 Cash and cash equivalents held at consolidated funds 1,611 1,417 Restricted cash 6.153 9,199 Investments 2,880,006 2,393,883 Assets of consolidated variable interest entities: Cash and cash equivalents 1,088,952 1,095,170 Investments, at fair value 15,658,653 14,126,362 Other assets 323,240 280.718 Carried interest receivable 911.666 2,287.075 Due from affiliates 268.015 317,247 Fixed assets. net 35.906 40,251 Deferred tax assets 606.717 660,199 Other assets 84.384 44.170 Goodwill 49,243 49,243 Intangible assets, net 60.039 94,927 Total Assets S 23,178.837 S 22,477,981 Liabilities and Shareholders' Equity Liabilities: Accounts payable and accrued expenses S 44,246 S 38.159 Accrued compensation and benefits 59,278 41,711 Deferred revenue 199.614 279,479 Profit sharing payable 434.852 992,240 Debt 1,034,014 750,000 Liabilities of consolidated variable interest entities: Debt, at fair value 14,123.100 12,423.962 Other liabilities 728.718 605.063 Other liabilities 46.401 63,274 Total Liabilities 17,235,376 15,789,259 Commitments and Contingencies (see note 18) Shareholders' Equity: Apollo Global Management, LLC shareholders' equity: Class A shares. no par value. unlimited shares authorized. 163.046,554 and 146.280.784 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively Class B shares, no par value, unlimited shares authorized, I sham issued and outstanding at December 31, 2014 and December 31,2013 Additional paid in capital 2,254,283 2,624,582 Accumulated deficit (1,400,661) (1,568,487) Appropriated partners' capital 933,166 1,581,079 Accumulated other comprehensive income (loss) (306) 95 Total Apollo Global Management, LLC shareholders' equity 1,786,482 2,637,269 NonControlling Interests in consolidated entities 3.222.195 2,669,730 Non-Controlling Interests in Apollo Operating Group 934,784 1,381.723 Total Shareholders' Equity 5,943,461 6.688.722 Total Liabilities and Shareholders' Equity S 23,178,837 S 22,477981 See accompanying notes to consolidatedfinancial statements. - 146- EFTA_R1_01967440 EFTA02676273 Table of Contents APOLLO GLOBAL MANAGEMENT, LLC NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (dollars ht Ihousands, ncept share data, ex sept where noled) Caladated based on avengeownashm ponxmagr for the period ~side/ing Class A share issuances during the period. Indatas amity.based annornsation reimbursable by "in funds. Relow isa reconciliation of the equity-based compensation allocated to Apollo Global Management. LLC for tbc yrar ended December 31, 2012: AlMeatal to Non- Non- Controlling Controlling Allocaled lo Interest '!'s In Internt la Avon° Apan Global Total Operal ing Operatio/ Management. Amorrol Group Groapor I.LC AOG Units S 480.931 313.856 $ 167,075 RSVs and Share Options 115.013 115,013 Other equity-balied oompensation awards 2.710 64.9 1,769 941 Total Equity-Based Compensation 9 <9,:.6 1 4 315,625 283.029 Less odla cquity-bascl tompabation awardsol (1,769) (741) Capita) Increase Rclated to Equity-Rasad Compensation S 313,856 S 282288 (1) C-oladdad based on averageowncrslup pavemage for the period cunsidaing Clas> A slum issuances dunng the period. 12) Inhales equity-based amtpensation rendstasahle hy termin lunds. 17. RELATED PARTY TRANSACI1ONS AND INTERESTS IN CONSOLIDATED ENTITIES The Company typically (sundes the initial payment of ccdain operating costs ineurred hy the runds thai n nianages as well as their affiliates. Mine costs arc nomially din:turs:d by such funds and arc included in due from affiliatcs. Duc from Milliatcs and duc to affi iatcs arc compriscd of the foliowing: AS of December 31. 2014 2013 Due from A (Oaks: Duc from private cquiry flints 30,091 57,582 Duc from portfolio companies 448« 23,484 Due from antit fumhd, 174,165 216,750 Duc from Conuihuring Pannas, employees and former anployem 1,721 2,659 Due from reol edate funds 20,162 12,119 Other 32 4,653 Total Duc from Affiliates 268,015 S 317,247 Due to Affillares: i Duc lo pine egon). funds $8 82$ Due lo credit funds 5.343 1,773 Distributions payablc to employees 49,503 67.290 Total Due so A flämt; 565.153 S 595,371 (I) As of December 31.2014 «hades unsettled A AA and »me management fm reenvabk as discusscd in "Athene below. As ofDecankr 31. 2013. maldes Adam< Service, Daivative at discussed in ',Uttala' bclow. - 207- EFTA_R1_01967441 EFTA02676274