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ITEM 8 / NOTE 7. INVESTMENTS.....................................................................................................................................................................................Direct private equity investments entered into for strategic purposes and not solely for capital appreciation or forincome generation are also accounted for under the equity method. Dividends received from our other strategicinvestments were $8 million, $17 million and $25 million for the years ended December 31, 2012, 2011, and 2010,respectively. The undistributed earnings of other strategic investments in which our ownership interest is less than50 percent were $51 million, $9 million and $8 million at December 31, 2012, 2011, and 2010, respectively.On October 29, 2010, we completed an IPO of 8.08 billion ordinary shares of AIA for aggregate gross proceeds ofapproximately $20.5 billion. Upon completion of the IPO, we owned 33 percent of AIA’s outstanding shares.Accordingly, we deconsolidated AIA and recorded a pre-tax gain of $16.3 billion in 2010. On March 7, 2012, we soldapproximately 1.72 billion ordinary shares of AIA for gross proceeds of approximately $6.0 billion. On September 11,2012, we sold approximately 600 million ordinary shares of AIA for gross proceeds of approximately $2.0 billion. OnDecember 20, 2012, we sold approximately 1.65 billion ordinary shares of AIA for gross proceeds of approximately$6.5 billion. As a result of these sales, we retained no interest in AIA as of December 31, 2012. We accounted forour investment in AIA under the fair value option with gains and losses recorded in Net investment income. Werecorded fair value option gains from our investment in AIA of $2.1 billion and $1.3 billion for the years endedDecember 31, 2012 and 2011, and a fair value option loss of $0.6 billion for the year ended December 31, 2010. AtDecember 31, 2011, the fair value of our 33 percent retained interest in AIA was approximately $12.4 billion, andwas included in Other invested assets.The following table presents the carrying value and ownership percentage of AIA and all other equity methodinvestments:2012 2011Carrying Ownership Carrying Ownership(in millions, except percentages) Value Percentage Value PercentageAIA $ – –% $ 12,367 33%All other equity method investments 11,544 Various 9,026 VariousTotal $ 11,544$ 21,393Summarized Financial Information of AIA..............................................................................................................................................................................................The following is summarized financial information of AIA:Year Ended December 31,(in millions) 2011Operating results:Total revenues $ 13,802Total expenses (12,436)Net income $ 1,366At December 31,(in millions) 2011Balance sheet:Total assets $ 112,673Total liabilities $ (90,894)Substantially all of AIA’s assets consist of financial investments and deferred acquisition and origination costs andsubstantially all of its liabilities consist of insurance- and investment-contract-related liabilities.Summarized financial information for AIA was as of and for the year ended 2011. AIA was consolidated throughOctober 28, 2010. As a result, comparable amounts for 2010 are not being presented...................................................................................................................................................................................................................................AIG 2012 Form 10-K 257