Bring on tomorrow - AIG.com

AMERICAN INTERNATIONAL GROUP, INC.CONSOLIDATED STATEMENT OF OPERATIONSYears Ended December 31,(dollars in millions, except per share data) 2012 2011 2010Revenues:Premiums $ 38,011 $ 38,990 $ 45,319Policy fees 2,7912,705 2,710Net investment income 20,34314,755 20,934Net realized capital gains (losses):Total other-than-temporary impairments on available for sale securities (448)(1,216) (1,712)Portion of other-than-temporary impairments on available for sale fixed maturity securitiesrecognized in Other comprehensive income (loss) (381)168 (812)Net other-than-temporary impairments on available for sale securities recognized in net income (829)(1,048) (2,524)Other realized capital gains 1,7581,749 1,808Total net realized capital gains (losses) 929701 (716)Other income 3,5822,661 4,582Total revenues 65,65659,812 72,829Benefits, claims and expenses:Policyholder benefits and claims incurred 31,97733,450 41,392Interest credited to policyholder account balances 4,3624,467 4,487Amortization of deferred acquisition costs 5,7095,486 5,821Other acquisition and insurance expenses 9,2358,458 10,163Interest expense 2,3192,444 6,742Net loss on extinguishment of debt 92,847 104Net (gain) loss on sale of properties and divested businesses 274 (19,566)Other expenses 2,7212,470 3,439Total benefits, claims and expenses 56,33459,696 52,582Income from continuing operations before income taxes 9,322116 20,247Income tax expense (benefit):Current 79518 580Deferred 775(19,442) 6,413Income taxes expense (benefit) 1,570(19,424) 6,993Income from continuing operations 7,75219,540 13,254Income (loss) from discontinued operations, net of income taxes (4,052)1,790 (969)Net income 3,70021,330 12,285Less:Net income from continuing operations attributable to noncontrolling interests:Nonvoting, callable, junior and senior preferred interests 208634 1,818Other 5454 354Total net income from continuing operations attributable to noncontrolling interests 262688 2,172Net income from discontinued operations attributable to noncontrolling interests –20 55Total net income attributable to noncontrolling interests 262708 2,227Net income attributable to AIG $ 3,438 $ 20,622 $ 10,058Net income attributable to AIG common shareholders $ 3,438 $ 19,810 $ 2,046Income per common share attributable to AIG common shareholders:Basic and diluted:Income from continuing operations $ 4.44 $ 10.03 $ 16.50Income (loss) from discontinued operations $ (2.40) $ 0.98 $ (1.52)Weighted average shares outstanding:Basic 1,687,197,038 1,799,385,757 136,585,844Diluted 1,687,226,641 1,799,458,497 136,649,280See accompanying Notes to Consolidated Financial Statements, which include a summary of revisions to prior year balances in connection with achange in accounting principle...................................................................................................................................................................................................................................AIG 2012 Form 10-K 205