Apollo Global Management Investor Day Presentation Deck
Reconciliation of GAAP to Non-GAAP Financial Measures
ATHENE
RECONCILIATION OF NET INCOME AVAILABLE TO AHL COMMON SHAREHOLDERS TO
NORMALIZED ADJUSTED OPERATING INCOME AVAILABLE TO COMMON SHAREHOLDERS EXCLUDING AOG, TAX AND NOTABLES
Annual
(in millions)
Net income available to AHL common shareholders
Non-operating adjustments:
Investment gains (losses), net of offsets
Change in fair values of derivatives and embedded derivatives - FIAS, net of offsets
Integration, restructuring and other non-operating expenses
Stock compensation expense
Income tax (expense) benefit - non-operating
Less: Total non-operating adjustments
Adjusted operating income available to common shareholders
Less: Change in fair value of Apollo investment, net of tax
Adjusted operating income available to common shareholders, excluding AOG
Less: Income tax (expense) benefit - operating
Adjusted operating income available to common shareholders, excluding AOG and tax
Less: Long-term incentive plan compensation expense
Adjusted operating income available to common shareholders, excluding AOG, tax and LTIP expense
Long-term alternative investment return adjustment, net of offsets
Notable items:
APOLLO INVESTOR DAY 2021
$
Proceeds from bond previously written down
Non-recurring adjustment on derivative collateral
Actuarial experience and market impacts
Unlocking
Total notable items, pre-tax
Normalized adjusted operating income available to common shareholders, excluding AOG, tax and notables $
2015
579
(56)
(30)
(58)
(67)
30
(181)
760
760
(30)
790
790
127
(24)
(24)
893
$
$
2016
773
47
67
(22)
(82)
4
14
759
759
57
702
(2)
704
99
158
158
961
$
$
2017
1,358
199
230
(68)
(33)
(25)
303
1,055
1,055
(81)
1,136
(12)
1,148
59
(14)
(152)
20
(146)
1,061
$
2018
1,053
(274)
242
(22)
(11)
(22)
(87)
1,140
1,140
(100)
1,240
(15)
1,255
91
21
13
34
1,380
$
2019
2,136
994
(65)
(70)
(12)
847
1,289
1,289
(117)
1,406
(15)
1,421
37
(43)
48
5
1,463
$
$
2020
1,446
508
(235)
(10)
(11)
(48)
204
1,242
165
1,077
(164)
1,241
(14)
1,255
152
(18)
(16)
(6)
(40)
1,367
Q2'21 LTM
3,647
$
784
525
(53)
(215)
1,039
2,608
386
2,222
(220)
2,442
(32)
2,474
(660)
(25)
(112)
(6)
(143)
1,671View entire presentation