Related Party Transactions and Interests in Consolidated Entities (Tables)

6 Months Ended

Jun. 30, 2013

Due from affiliates and due to affiliates are comprised of the following:


	As of June 30, 2013		As of December 31, 2012
Due from Affiliates:
Due from private equity funds	$	32,183	$	28,201
Due from portfolio companies		17,092		46,048
Due from credit funds		122,745		68,278	⁽¹⁾
Due from Contributing Partners, employees and former employees		16,801		9,536
Due from real estate funds		19,367		17,950
Other		1,092		3,299

Total Due from Affiliates	$	209,280	$	173,312

Due to Affiliates:
Due to Managing Partners and Contributing Partners in connection with the tax receivable agreement	$	489,862	$	441,997
Due to private equity funds		27,738		12,761
Due to credit funds		561		19,926
Due to real estate funds		—		1,200
Distributions payable to employees		28,809		1,567

Total Due to Affiliates	$	546,970	$	477,451

(1)	Reclassified to conform to current period presentation.

Amount of Quarterly Distribution

In addition to other distributions, such as payments pursuant to the tax receivable agreement, the table below presents information regarding the quarterly distributions which were made at the sole discretion of the manager of the Company during 2012 and 2013 (in millions, except per share amounts):


Distributions Declaration Date	Distributions per Class A Share Amount		Distributions Payment Date	Distributions to AGM Class A Shareholders		Distributions to Non-Controlling Interest Holders in the Apollo Operating Group		Total Distributions from Apollo Operating Group		Distribution Equivalents on Participating Securities
February 10, 2012	$	0.46	February 29, 2012	$	58.1	$	110.4	$	168.5	$	10.3
May 8, 2012	$	0.25	May 30, 2012	$	31.6	$	60.0	$	91.6	$	6.2
August 2, 2012	$	0.24	August 31, 2012	$	31.2	$	57.6	$	88.8	$	5.3
November 9, 2012	$	0.40	November 30, 2012	$	52.0	$	96.0	$	148.0	$	9.4
February 8, 2013	$	1.05	February 28, 2013	$	138.7	$	252.0	$	390.7	$	25.0
May 6, 2013	$	0.57	May 30, 2013	$	80.8	$	131.8	$	212.6	$	14.3

Schedule of Fair Value of Derivative

The following table summarizes the fair value of these derivatives, which are measured at fair value and characterized as Level III liabilities:


	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2013		2013
Balance, Beginning of Period	$	24,127	$	2,126
Change in Unrealized Market Value		284		284
Fees Received		23,705		45,706

Balance, End of Period	$	48,116	$	48,116

Quantitative Inputs and Assumptions Used for Derivatives at Fair Value

The following table summarizes the quantitative inputs and assumptions used for these derivatives, at fair value, categorized as Level III in the fair value hierarchy as of June 30, 2013:

Fair Value at
June 30, 2013

Valuation Techniques

Unobservable Inputs

Multiple

Weighted
Average

Financial Assets:

Athene/AAA Derivative

48,116

Discounted Cash Flow/Market Multiples

Weighted Average Cost of

Capital /Comparable Multiples

1.22x

15.0

Net Income Attributable to Non-Controlling Interests

Net income attributable to Non-Controlling Interests consisted of the following:


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2013			2012			2013			2012
	(in thousands)
AAA⁽¹⁾	$	(6,531	)	$	17,721		$	(52,213	)	$	(132,441	)
Interest in management companies and a co-investment vehicle⁽²⁾		(4,309	)		(2,366	)		(8,145	)		(2,200	)
Other consolidated entities		7,647			6,892			29,566			6,892

Net (income) loss attributable to Non-Controlling Interests in consolidated entities		(3,193	)		22,247			(30,792	)		(127,749	)
Net loss (income) attributable to Appropriated Partners’ Capital⁽³⁾		40,243			(1,962,947	)		2,001			(1,932,653	)
Net (income) loss attributable to Non-Controlling Interests in the Apollo Operating Group		(126,483	)		64,837			(611,729	)		(148,559	)


Net (income) loss attributable to Non-Controlling Interests	$	(89,433	)	$	(1,875,863	)	$	(640,520	)	$	(2,208,961	)

Net (loss) income attributable to Appropriated Partners’ Capital⁽⁴⁾		(40,243	)		1,962,947			(2,001	)		1,932,653

Other Comprehensive Income attributable to Non-Controlling Interests		—			(801	)		—			(2,010	)

Comprehensive (Income) Loss Attributable to Non-Controlling Interests	$	(129,676	)	$	86,283		$	(642,521	)	$	(278,318	)

(1)

Reflects the Non-Controlling Interests in the net (income) loss of AAA and is calculated based on the Non-Controlling Interests ownership percentage in AAA, which was approximately 97% during the three and six months ended June 30, 2013, respectively, and 97% and 98% during the three and six months ended June 30, 2012, respectively.

(2)	Reflects the remaining interest held by certain individuals who receive an allocation of income from certain of our credit management companies.

(3)	Reflects net (income) loss of the consolidated CLOs classified as VIEs.

(4)	Appropriated Partners’ Capital is included in total Apollo Global Management, LLC shareholders’ equity and is therefore not a component of comprehensive income attributable to non-controlling interest on the condensed consolidated statements of comprehensive income.