EQUITY-BASED COMPENSATION (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule or Description of Weighted Average Discount Rate |
The following table summarizes the weighted average discounts for Plan Grants and Bonus Grants for the three and nine months ended September 30, 2016 and 2015. | | | | | | | | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | | 2016 | | 2015 | | 2016 | | 2015 | Plan Grants: | | | | | | | | | Discount for the lack of distributions until vested(1) | | 8.2 | % | | 26.1 | % | | 10.1 | % | | 26.2 | % | Marketability discount for transfer restrictions(2) | | 5.8 | % | | 3.8 | % | | 5.8 | % | | 3.9 | % | Bonus Grants: | | | | | | | | | Marketability discount for transfer restrictions(2) | | 3.0 | % | | 2.3 | % | | 3.4 | % | | 2.2 | % |
| | (1) | Based on the present value of a growing annuity calculation. |
| | (2) | Based on the Finnerty Model calculation. |
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| Schedule or Description of Forfeiture Rate and Compensation Expense |
The following table presents the forfeiture rate and compensation expense recognized for the three and nine months ended September 30, 2016 and 2015: | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | | 2016 | | 2015 | | 2016 | | 2015 | Actual Forfeiture rate | | 2.7 | % | | 0.9 | % | | 6.6 | % | | 1.3 | % | Equity-based compensation | | $ | 16,724 |
| | $ | 16,330 |
| | $ | 52,564 |
| | $ | 49,860 |
|
|
| Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity |
The following table summarizes RSU activity for the nine months ended September 30, 2016: | | | | | | | | | | | | | | | | Unvested | | Weighted Average Grant Date Fair Value | | Vested | | Total Number
of RSUs
Outstanding | | Balance at January 1, 2016 | 11,040,143 |
| | $ | 16.40 |
| | 6,294,053 |
| | 17,334,196 |
| (1) | Granted | 172,822 |
| | 16.16 |
| | — |
| | 172,822 |
| | Forfeited | (742,744 | ) | | 14.88 |
| | — |
| | (742,744 | ) | | Issued | — |
| | 16.73 |
| | (6,654,452 | ) | | (6,654,452 | ) | | Vested | (1,370,998 | ) | | 16.58 |
| | 1,370,998 |
| | — |
| | Balance at September 30, 2016 | 9,099,223 |
| | $ | 16.50 |
| | 1,010,599 |
| | 10,109,822 |
| (1) |
| | (1) | Amount excludes RSUs which have vested and have been issued in the form of Class A shares. |
|
| Disclosure of Share-based Compensation Arrangements by Share-based Payment Award |
The table below summarizes the issuances of Class A shares in settlement of vested RSUs and exercised share options for the three and nine months ended September 30, 2016 and 2015: | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | | 2016 | | 2015 | | 2016 | | 2015 | Class A shares issued | | 435,787 |
| | 2,377,034 |
| | 4,246,760 |
| | 9,253,602 |
| Gross value of shares(1) | | $ | 13,636 |
| | $ | 77,103 |
| | $ | 96,437 |
| | $ | 261,566 |
|
| | (1) | Based on the closing price of a Class A share at the time of issuance. |
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| Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan |
The following table presents the equity-based compensation expense that was recognized in the condensed consolidated statements of operations related to AHL Awards granted to employees of Athene Asset Management for the three and nine months ended September 30, 2016 and 2015: | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | | 2016 | | 2015 | | 2016 | | 2015 | Equity-based compensation | | $ | 4,093 |
| | $ | 13,331 |
| | $ | 9,441 |
| | $ | 19,592 |
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|
| Schedule of Share-based Compensation, Activity |
Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the nine months ended September 30, 2016: | | | | | | | | | | | | | | | | | Total Amount | | Non- Controlling Interest % in Apollo Operating Group | | Allocated to Non- Controlling Interest in Apollo Operating Group(1) | | Allocated to Apollo Global Management, LLC | RSUs and Share Options | $ | 55,260 |
| | — | % | | $ | — |
| | $ | 55,260 |
| AHL Awards | 9,441 |
| | 53.9 |
| | 5,093 |
| | 4,348 |
| Other equity-based compensation awards | 9,502 |
| | 53.9 |
| | 5,127 |
| | 4,375 |
| Total equity-based compensation | $ | 74,203 |
| | | | 10,220 |
| | 63,983 |
| Less other equity-based compensation awards(2) | | | | | (10,220 | ) | | (10,073 | ) | Capital increase related to equity-based compensation | | | | | $ | — |
| | $ | 53,910 |
|
| | (1) | Calculated based on average ownership percentage for the period considering Class A share issuances during the period. |
| | (2) | Includes equity-based compensation reimbursable by certain funds. |
Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the nine months ended September 30, 2015: | | | | | | | | | | | | | | | | | Total Amount | | Non- Controlling Interest % in Apollo Operating Group | | Allocated to Non- Controlling Interest in Apollo Operating Group(1) | | Allocated to Apollo Global Management, LLC | RSUs and Share Options | $ | 50,305 |
| | — | % | | $ | — |
| | $ | 50,305 |
| AHL Awards | 19,592 |
| | 54.7 |
| | 10,718 |
| | 8,874 |
| Other equity-based compensation awards | 3,889 |
| | 54.7 |
| | 2,128 |
| | 1,761 |
| Total equity-based compensation | $ | 73,786 |
| | | | 12,846 |
| | 60,940 |
| Less other equity-based compensation awards(2) | | | | | (12,846 | ) | | (10,988 | ) | Capital increase related to equity-based compensation | | | | | $ | — |
| | $ | 49,952 |
|
| | (1) | Calculated based on average ownership percentage for the period considering Class A share issuances during the period. |
| | (2) | Includes equity-based compensation reimbursable by certain funds. |
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