Apollo Global Management Investor Day Presentation Deck
Reconciliation of GAAP to Non-GAAP Financial Measures
ATHENE
(in millions)
Policy and other operating expenses
Interest expense
Policy acquisition expenses, net of deferrals
Integration, restructuring and other non-operating expenses
Stock compensation expenses
ACRA noncontrolling interest
Other changes in policy and other operating expenses
Total adjustments to arrive at operating expenses
Operating expenses
APOLLO INVESTOR DAY 2021
RECONCILIATION OF POLICY AND OTHER OPERATING EXPENSES TO OPERATING EXPENSES
3Q'18
$
$
158
(15)
(60)
(2)
(3)
(80)
78
4Q'18
$
$
172
(13)
(70)
(4)
(3)
(90)
82
$
$
1Q'19
165
(17)
(62)
(1)
(3)
(83)
82
2Q'19
$
$
185
(15)
(69)
(11)
(3)
(98)
87
$
$
3Q'19
194
(15)
(63)
(34)
(3)
(115)
79
4Q'19
$
$
Quarterly
200
(20)
(62)
(24)
(5)
(114)
86
$
$
1Q'20
188
(20)
(71)
(4)
(10)
(4)
(109)
79
$
$
2Q'20
218
(29)
(73)
(9)
(19)
(130)
88
3Q'20
$
$
231
(34)
(99)
(1)
(16)
(3)
(153)
78
4Q'20
$
$
218
(31)
(79)
3
(19)
1
(125)
93
$
$
1Q'21
283
(32)
(82)
(45)
(21)
(5)
(185)
98
$
$
2Q'21
242
(34)
(74)
(11)
(1)
(19)
(8)
(147)
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