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ITEM 8 / NOTE 6. FAIR VALUE MEASUREMENTS.....................................................................................................................................................................................Assets and Liabilities Measured at Fair Value on a Recurring Basis..............................................................................................................................................................................................The following table presents information about assets and liabilities measured at fair value on a recurringbasis and indicates the level of the fair value measurement based on the observability of the inputs used:December 31, 2012 Counterparty Cash(in millions) Level 1 Level 2 Level 3 Netting (a) Collateral (b) TotalAssets:Bonds available for sale:U.S. government and government sponsored entitiesObligations of states, municipalities and political subdivisionsNon-U.S. governmentsCorporate debtRMBSCMBSCDO/ABSTotal bonds available for saleBond trading securities:U.S. government and government sponsored entitiesObligations of states, municipalities and political subdivisionsNon-U.S. governmentsCorporate debtRMBSCMBSCDO/ABSTotal bond trading securitiesEquity securities available for sale:Common stockPreferred stockMutual fundsTotal equity securities available for saleEquity securities tradingMortgage and other loans receivableOther invested assetsDerivative assets:Interest rate contractsForeign exchange contractsEquity contractsCommodity contractsCredit contractsOther contractsCounterparty netting and cash collateralTotal derivative assets 106 5,832 1,109 (2,467) (909)3,671Short-term investmentsSeparate account assetsOther assetsTotalLiabilities:Policyholder contract depositsDerivative liabilities:Interest rate contractsForeign exchange contractsEquity contractsCommodity contractsCredit contracts (d)Other contractsCounterparty netting and cash collateralTotal derivative liabilitiesLong-term debt (e)Other liabilitiesTotal$ – $ 3,483 $ – $ – $ – $ 3,483– 34,681 1,024 – – 35,7051,004 25,782 14 – – 26,800– 149,625 1,487 – – 151,112– 22,730 11,662 – – 34,392– 5,010 5,124 – – 10,134– 3,492 4,841 – – 8,3331,004 244,803 24,152 – – 269,959266 6,528 – – – 6,794– – – – – –– 2 – – – 2– 1,320 – – – 1,320– 1,331 396 – – 1,727– 1,424 812 – – 2,236– 3,969 8,536 – – 12,505266 14,574 9,744 – – 24,5843,002 3 24 – – 3,029– 34 44 – – 7883 22 – – – 1053,085 59 68 – – 3,212578 84 – – – 662– 134 – – – 134125 1,542 5,389 – – 7,0562 5,521 956 – – 6,479– 104 – – – 104104 63 54 – – 221– 144 1 – – 145– – 60 – – 60– – 38 – – 38– – – (2,467) (909) (3,376)285 7,771 – – – 8,05654,430 2,907 – – – 57,337– 696 – – – 696$ 59,879 $ 278,402 $ 40,462 $ (2,467) $ (909) $ 375,367$ – $ – $ 1,257 $ – $ – $ 1,257– 5,582 224 – – 5,806– 174 – – – 174– 114 7 – – 121– 146 – – – 146– – 2,051 – – 2,051– 6 200 – – 206– – – (2,467) (1,976) (4,443)– 6,022 2,482 (2,467) (1,976) 4,061– 7,711 344 – – 8,05530 1,050 – – – 1,080$ 30 $ 14,783 $ 4,083 $ (2,467) $ (1,976) $ 14,453..................................................................................................................................................................................................................................240 AIG 2012 Form 10-K