APi Group Corp 2024年度报告

(Mark One) For the fiscal year endedDecember 31, 2024OR oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934FOR THE TRANSITION PERIOD FROM TO Commission File Number001-39275_________________________________________________ APi Group Corporation(Exact name of Registrant as specified in its Charter) ___________________________________________________ Registrant’s telephone number, including area code: (651)636-4320___________________________________________________ Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.YesxNoo Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YesoNox Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or forsuch shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.YesxNoo Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of thischapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).YesxNoo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See thedefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accountingstandards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting underSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.x Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executiveofficers during the relevant recovery period pursuant to §240.10D-1(b).o The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant, based on the closing price of the shares of common stock on The New YorkStock Exchange on June30, 2024, the last business day of the registrant’s most recently completed second quarter, was $8.5billion. The number of shares of Registrant’s common stock outstanding as of February19, 2025 was277,558,051. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement for the 2025 Annual Meeting of Stockholders, which is to be filed no later than 120 days after December 31, 2024, are incorporated byreference into Part III of this Form 10-K. PART I BusinessRisk FactorsUnresolved Staff CommentsCybersecurityPropertiesLegal ProceedingsMine Safety Disclosures Item 1.Item 1A.Item 1B.Item 1C.Item 2.Item 3.Item 4. PART II Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities33[Reserved]34Management’s Discussion and Analysis of Financial Condition and Results of Operations35Qualitative and Quantitative Disclosures About Market Risk53Financial Statements and Supplementary Data55Changes in and Disagreements with Accountants on Accounting and Financial Disclosure113Controls and Procedures113Other Information114Disclosure Regarding Foreign Jurisdictions that Prevent Inspections114 Item 6.Item 7.Item 7A.Item 8.Item 9.Item 9A.Item 9B.Item 9C. PART III Directors, Executive Officers and Corporate Governance115Executive Compensation115Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters115Certain Relationships and Related Transactions, and Director Independence115Principal Accounting Fees and Services115 Item 10.Item 11.Item 12.Item 13.Item 14. PART IV Item 15.Exhibits, Financial Statement Schedules116Item 16Form 10-K Summary120 PART I As used in this Annual Report on Form 10-K ("Annual Report"), the terms “we,” “us,” “our,” the “Company,” and “APG”refer to APi Group Corporation, a Delaware corporation headquartered in New Brighton, Minnesota, and its wholly‑ownedsubsidiaries (the “Subsidiaries”). CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report conta