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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
AMERICAN INTERNATIONAL GROUP, INC.CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)Years Ended December 31,(in millions) 2012 2011 2010Net income $ 3,700 $ 21,330 $ 12,285Other comprehensive income (loss), net of taxChange in unrealized appreciation (depreciation) of fixed maturity investmentson which other-than-temporary credit impairments were taken 1,286 (74) 1,229Change in unrealized appreciation (depreciation) of all other investments 4,880 (1,485) 2,293Change in foreign currency translation adjustments – (992) (928)Change in net derivative gains arising from cash flow hedging activities 17 17 94Change in retirement plan liabilities adjustment (87) (70) 275Other comprehensive income (loss) 6,096 (2,604) 2,963Comprehensive income 9,796 18,726 15,248Comprehensive income attributable to noncontrolling nonvoting, callable, juniorand senior preferred interests 208 634 1,818Comprehensive income (loss) attributable to other noncontrolling interests 57 (47) 590Total comprehensive income attributable to noncontrolling interests 265 587 2,408Comprehensive income attributable to AIG $ 9,531 $ 18,139 $ 12,840See accompanying Notes to Consolidated Financial Statements, which include a summary of revisions to prior year balances in connection with achange in accounting principle...................................................................................................................................................................................................................................206 AIG 2012 Form 10-K
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American International Group, Inc.2
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KEY FACTS & FIGURES52,000+ $65.7 bi
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■We said we would return to profi
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Financial HighlightsYears Ended Dec
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~63,000AIG EMPLOYEES AROUND THE WOR
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$115.1 millionAVERAGE CLAIMS PAID E
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$10,000MAXIMUM DONATION MADE BY AIG
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American International Group, Inc.F
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AMERICAN INTERNATIONAL GROUP, INC.A
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ITEM 1 / BUSINESS / AIG............
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ITEM 1 / BUSINESS / AIG............
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ITEM 1 / BUSINESS / AIG PROPERTY CA
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ITEM 1 / BUSINESS / AIG PROPERTY CA
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ITEM 1 / BUSINESS / AIG LIFE AND RE
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ITEM 1 / BUSINESS / OTHER OPERATION
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ITEM 1 / BUSINESS / OTHER OPERATION
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ITEM 1 / BUSINESS..................
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ITEM 1 / BUSINESS..................
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ITEM 1 / BUSINESS..................
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ITEM 1 / BUSINESS..................
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ITEM 1 / BUSINESS..................
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ITEM 1A / RISK FACTORS.............
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ITEM 1B / UNRESOLVED STAFF COMMENTS
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ITEM 5 / MARKET FOR REGISTRANT’S
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ITEM 6 / SELECTED FINANCIAL DATA...
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ITEM 6 / SELECTED FINANCIAL DATA...
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ITEM 7 / MANAGEMENT’S DISCUSSION
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ITEM 7 / USE OF NON-GAAP MEASURES..
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ITEM 7 / EXECUTIVE SUMMARY.........
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ITEM 7 / RESULTS OF OPERATIONS.....
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ITEM 7 / LIQUIDITY AND CAPITAL RESO
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ITEM 7 / INVESTMENTS...............
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Page 171 and 172: ITEM 7 / INVESTMENTS...............
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Page 217 and 218: ITEM 7A / QUANTITATIVE AND QUALITAT
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Page 227 and 228: ITEM 8 / NOTE 1. BASIS OF PRESENTAT
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ITEM 8 / NOTE 7. INVESTMENTS.......
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ITEM 8 / NOTE 8. LENDING ACTIVITIES
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ITEM 8 / NOTE 9. REINSURANCE.......
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ITEM 8 / NOTE 10. DEFERRED POLICY A
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ITEM 8 / NOTE 10. DEFERRED POLICY A
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ITEM 8 / NOTE 11. VARIABLE INTEREST
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ITEM 8 / NOTE 11. VARIABLE INTEREST
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ITEM 8 / NOTE 12. DERIVATIVES AND H
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ITEM 8 / NOTE 13. LIABILITY FOR UNP
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ITEM 8 / NOTE 14. VARIABLE LIFE AND
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ITEM 8 / NOTE 15. DEBT OUTSTANDING.
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ITEM 8 / NOTE 15. DEBT OUTSTANDING.
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ITEM 8 / NOTE 16. CONTINGENCIES, CO
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ITEM 8 / NOTE 17. TOTAL EQUITY.....
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ITEM 8 / NOTE 18. NONCONTROLLING IN
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ITEM 8 / NOTE 19. EARNINGS (LOSS) P
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ITEM 8 / NOTE 20. STATUTORY FINANCI
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ITEM 8 / NOTE 21. SHARE-BASED COMPE
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ITEM 8 / NOTE 21. SHARE-BASED COMPE
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ITEM 8 / NOTE 22. EMPLOYEE BENEFITS
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ITEM 8 / NOTE 24. INCOME TAXES.....
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ITEM 8 / NOTE 26. QUARTERLY FINANCI
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ITEM 8 / NOTE 27. INFORMATION PROVI
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PART II............................
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PART IV............................
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SignatureTitle/s/ ARTHUR C. MARTINE
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ExhibitNumber Description Location(
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Condensed Financial Information of
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Condensed Financial Information of
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Notes to Condensed Financial Inform
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Supplementary Insurance Information
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Valuation and Qualifying AccountsFo
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Subsidiaries of RegistrantExhibit 2
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Percentageof VotingSecuritiesJurisd
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Percentageof VotingSecuritiesJurisd
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CONSENT OF INDEPENDENT REGISTERED P
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CERTIFICATIONSI, Robert H. Benmosch
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CERTIFICATIONExhibit 32In connectio
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SECURITIES REGISTERED PURSUANT TO S
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American International Group, Inc.1
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