2007 Annual Report - AIG.com

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American International Group, Inc. and Subsidiaries Notes to Consolidated Financial Statements Continued 23. Information Provided in Connection With Outstanding Debt The following condensed consolidating financial statements reflect the following: ( AIGLH, formerly known as American General Corporation, is a holding company and a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of all outstanding debt of AIGLH. ( AIG Liquidity Corp. is a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of all obligations of AIG Liquidity Corp. ( AIG Program Funding, Inc. is a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of all obligations of AIG Program Funding, Inc., which was established in 2007. Condensed Consolidating Balance Sheet American International AIG AIG Group, Inc. Liquidity Program Other Consolidated (in millions) (As Guarantor) AIGLH Corp. Funding, Inc. Subsidiaries Eliminations AIG December 31, 2007 Assets: Investments and financial services assets $ 14,648 $ 40 $ — $ — $ 859,063 $ (21,790) $ 851,961 Cash 84 1 — — 2,199 — 2,284 Carrying value of subsidiaries and partially owned companies, at equity 111,714 24,396 — — 18,542 (153,998) 654 Other assets 9,414 2,592 — — 193,445 155 205,606 Total assets $135,860 $27,029 $ — $ — $1,073,249 $(175,633) $ 1,060,505 Liabilities: Insurance liabilities $ 43 $ — $ — $ — $ 534,369 $ (75) $ 534,337 Debt 36,045 2,136 — — 156,003 (18,135) 176,049 Other liabilities 3,971 2,826 — — 250,506 (3,085) 254,218 Total liabilities $ 40,059 $ 4,962 $ — $ — $ 940,878 $ (21,295) $ 964,604 Preferred shareholders’ equity in subsidiary companies — — — — 100 — 100 Total shareholders’ equity $ 95,801 $22,067 $ — $ — $ 132,271 $(154,338) $ 95,801 Total liabilities, preferred shareholders’ equity in subsidiary companies and shareholders’ equity $135,860 $27,029 $ — $ — $1,073,249 $(175,633) $ 1,060,505 December 31, 2006 Assets: Investments and financial services assets $ 7,346 $ — $ * $ — $ 800,350 $ (14,822) $ 792,874 Cash 76 — * — 1,514 — 1,590 Carrying value of subsidiaries and partially owned companies, at equity 109,125 27,967 — — 8,436 (144,427) 1,101 Other assets 3,989 2,622 * — 179,183 (1,949) 183,845 Total assets $120,536 $30,589 $ * $ — $ 989,483 $(161,198) $ 979,410 Liabilities: Insurance liabilities $ 21 $ — $ — $ — $ 498,263 $ (64) $ 498,220 Debt 15,157 2,136 * — 146,206 (14,820) 148,679 Other liabilities 3,681 3,508 * — 224,936 (1,482) 230,643 Total liabilities $ 18,859 $ 5,644 $ * $ — $ 869,405 $ (16,366) $ 877,542 Preferred shareholders’ equity in subsidiary companies — — — — 191 — 191 Total shareholders’ equity 101,677 24,945 * — 119,887 (144,832) 101,677 Total liabilities, preferred shareholders’ equity in subsidiary companies and shareholders’ equity $120,536 $30,589 $ * $ — $ 989,483 $(161,198) $ 979,410 * Less than $1 million. 198 AIG 2007 Form 10-K
American International Group, Inc. and Subsidiaries 23. Information Provided in Connection With Outstanding Debt Continued Condensed Consolidating Statement of Income American International AIG AIG Group, Inc. Liquidity Program Other Consolidated (in millions) Guarantor AIGLH Corp. Funding, Inc. Subsidiaries Eliminations AIG Year Ended December 31, 2007 Operating income (loss) $ (2,379) $ (152) $ * $ — $11,474 $ — $ 8,943 Equity in undistributed net income of consolidated subsidiaries 3,121 (27) — — — (3,094) — Dividend income from consolidated subsidiaries 4,685 1,358 — — — (6,043) — Income taxes (benefits) (773) 248 * — 1,980 — 1,455 Minority interest — — — — (1,288) — (1,288) Net income (loss) $ 6,200 $ 931 $ * $ — $ 8,206 $ (9,137) $ 6,200 Year Ended December 31, 2006 Operating income (loss) $ (786) $ 122 $ * $ — $22,351 $ — $21,687 Equity in undistributed net income of consolidated subsidiaries 13,308 1,263 — — — (14,571) — Dividend income from consolidated subsidiaries 1,689 602 — — — (2,291) — Income taxes (benefits) 197 (131) * — 6,471 — 6,537 Minority interest — — — — (1,136) — (1,136) Cumulative effect of an accounting change 34 — — — — — 34 Net income (loss) $14,048 $2,118 $ * $ — $14,744 $(16,862) $14,048 Year Ended December 31, 2005 Operating income (loss) $ (1,569) $ (200) $ * $ — $16,982 $ — $15,213 Equity in undistributed net income of consolidated subsidiaries 10,156 2,530 — — — (12,686) — Dividend income from consolidated subsidiaries 1,958 — — — — (1,958) — Income taxes (benefits) 68 (92) * — 4,282 — 4,258 Minority interest — — — — (478) — (478) Net income (loss) $10,477 $2,422 $ * $ — $12,222 $(14,644) $10,477 * Less than $1 million. AIG 2007 Form 10-K 199
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AMERICAN INTERNATIONAL GROUP, INC.
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FINANCIAL HIGHLIGHTS (in millions,
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overall financial condition, althou
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Group Executive Committee We are ad
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AIG’s life insurance network is t
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We have also begun to address the e
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WHAT WE SEE The ability to see and
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The Major Accounts Practice within
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Around the world, the middle class
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WE SEE GROWTH OPPORTUNITIES IN EMER
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To grow the strength of the AIG glo
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Since 2003, the AIG Disaster Relief
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RESPECT Respect encompasses how we
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Life Insurance & Retirement Service
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Domestic Brokerage Group— Gross P
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In the summer of 2007, widespread f
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in gross premiums written. It launc
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It grew new business premiums from
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emerging markets for its services,
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ILFC—Revenues by Region Total = $
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AIG Investments acquired a 94 perce
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and changing interest rates, as wel
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American International Group, Inc.
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UNITED STATES SECURITIES AND EXCHAN
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Index of Notes to Consolidated Fina
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Page 201 and 202: American International Group, Inc.
Page 251: American International Group, Inc.
Page 275 and 276: SHAREHOLDER INFORMATION Corporate H
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2007 Annual Report - AIG.com

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