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Bring on tomorrow - AIG.com

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ITEM 8 / NOTE 27. INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT.....................................................................................................................................................................................C<strong>on</strong>densed C<strong>on</strong>solidating Statement of In<strong>com</strong>e (Loss)..............................................................................................................................................................................................AmericanInternati<strong>on</strong>alReclassificati<strong>on</strong>sGroup, Inc. Other and C<strong>on</strong>solidated(in milli<strong>on</strong>s) (As Guarantor) SAFG, Inc. Subsidiaries Eliminati<strong>on</strong>s <strong>AIG</strong>Year Ended December 31, 2012Revenues:Equity in earnings of c<strong>on</strong>solidated subsidiaries (a)Change in fair value of ML IIIOther in<strong>com</strong>e (b)Total revenuesExpenses:Other interest expense (c)Net loss <strong>on</strong> extinguishment of debtOther expensesTotal expensesIn<strong>com</strong>e (loss) from c<strong>on</strong>tinuing operati<strong>on</strong>s before in<strong>com</strong>e taxexpense (benefit)In<strong>com</strong>e tax expense (benefit)In<strong>com</strong>e (loss) from c<strong>on</strong>tinuing operati<strong>on</strong>sIn<strong>com</strong>e (loss) from disc<strong>on</strong>tinued operati<strong>on</strong>sNet in<strong>com</strong>e (loss)Less:Net in<strong>com</strong>e from c<strong>on</strong>tinuing operati<strong>on</strong>s attributable t<strong>on</strong><strong>on</strong>c<strong>on</strong>trolling interests:N<strong>on</strong>voting, callable, junior and senior preferred interestsOtherTotal net in<strong>com</strong>e attributable to n<strong>on</strong>c<strong>on</strong>trolling interestsNet in<strong>com</strong>e (loss) attributable to <strong>AIG</strong>$ 1,970 $ 2,315 $ – $ (4,285) $ –2,287 – 601 – 2,8881,911 49 61,191 (383) 62,7686,168 2,364 61,792 (4,668) 65,6562,257 174 271 (383) 2,3199 – – – 91,602 – 52,404 – 54,0063,868 174 52,675 (383) 56,3342,300 2,190 9,117 (4,285) 9,322(1,137) (17) 2,724 – 1,5703,437 2,207 6,393 (4,285) 7,7521 – (4,053) – (4,052)3,438 2,207 2,340 (4,285) 3,700– – – 208 208– – 54 – 54– – 54 208 262$ 3,438 $ 2,207 $ 2,286 $ (4,493) $ 3,438Year Ended December 31, 2011Revenues:Equity in earnings of c<strong>on</strong>solidated subsidiaries (a)(d) $ 6,260 $ 1,586 $ – $ (7,846) $ –Change in fair value of ML III (723) – 77 – (646)Other in<strong>com</strong>e (b)(d) 1,088 189 60,370 (1,189) 60,458Total revenues 6,625 1,775 60,447 (9,035) 59,812Expenses:Interest expense <strong>on</strong> FRBNY Credit Facility 72 – – (2) 70Other interest expense (c) 2,845 281 437 (1,189) 2,374Net loss <strong>on</strong> extinguishment of debt 2,847 – – – 2,847Other expenses 867 – 53,538 – 54,405Total expenses 6,631 281 53,975 (1,191) 59,696In<strong>com</strong>e (loss) from c<strong>on</strong>tinuing operati<strong>on</strong>s before in<strong>com</strong>e taxexpense (benefit) (6) 1,494 6,472 (7,844) 116In<strong>com</strong>e tax expense (benefit) (19,695) (103) 374 – (19,424)In<strong>com</strong>e (loss) from c<strong>on</strong>tinuing operati<strong>on</strong>s 19,689 1,597 6,098 (7,844) 19,540In<strong>com</strong>e (loss) from disc<strong>on</strong>tinued operati<strong>on</strong>s 933 – 859 (2) 1,790Net in<strong>com</strong>e (loss) 20,622 1,597 6,957 (7,846) 21,330Less:Net in<strong>com</strong>e from c<strong>on</strong>tinuing operati<strong>on</strong>s attributable t<strong>on</strong><strong>on</strong>c<strong>on</strong>trolling interests:N<strong>on</strong>voting, callable, junior and senior preferred interests – – – 634 634Other – – 54 – 54Total in<strong>com</strong>e from c<strong>on</strong>tinuing operati<strong>on</strong>s attributable t<strong>on</strong><strong>on</strong>c<strong>on</strong>trolling interests – – 54 634 688In<strong>com</strong>e from disc<strong>on</strong>tinued operati<strong>on</strong>s attributable t<strong>on</strong><strong>on</strong>c<strong>on</strong>trolling interests – – 20 – 20Total net in<strong>com</strong>e attributable to n<strong>on</strong>c<strong>on</strong>trolling interests – – 74 634 708Net in<strong>com</strong>e (loss) attributable to <strong>AIG</strong> $ 20,622 $ 1,597 $ 6,883 $ (8,480) $ 20,622..................................................................................................................................................................................................................................338 <strong>AIG</strong> 2012 Form 10-K

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