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ITEM 8 / NOTE 27. INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT.....................................................................................................................................................................................Supplementary Disclosure of Cash Flow Information..............................................................................................................................................................................................Cash (paid) received during the Year EndedDecember 31, 2012 for:Interest:Third partyIntercompanyTaxes:Income tax authoritiesIntercompanyAmericanOtherInternationalSubsidiariesGroup, Inc. and Consolidated(As Guarantor) SAFG, Inc. Eliminations AIG$ (2,089) $ (128) $ (1,820) $ (4,037)(133) (56) 189 –$ (7) $ – $ (440) $ (447)230 (41) (189) –Cash (paid) received during the Year EndedDecember 31, 2011 for:Interest:Third party * $ (6,909) $ (128) $ (1,948) $ (8,985)Intercompany (311) (169) 480 –Taxes:Income tax authorities $ 13 $ – $ (729) $ (716)Intercompany (335) 1 334 –Cash (paid) received during the Year EndedDecember 31, 2010 for:Interest:Third party $ (2,493) $ (166) $ (2,507) $ (5,166)Intercompany (12) (222) 234 –Taxes:Income tax authorities $ (32) $ – $ (970) $ (1,002)Intercompany 859 – (859) –* Includes payment of FRBNY Credit Facility accrued compounded interest of $4.7 billion in the first quarter of 2011.American International Group, Inc (As Guarantor) supplementary disclosure of non-cash activities:..............................................................................................................................................................................................Year Ended December 31,(in millions) 2012 2011 2010Intercompany non-cash financing and investing activities:Capital contributionsto subsidiaries through the forgiveness of loans $ – $ – $ 2,510in the form of bond available for sale securities 4,078 – –Return of capital and dividend receivedin the form of cancellation of intercompany loan 9,303 – –in the form of bond trading securities 3,320 3,668 –Intercompany loan receivable offset by intercompany payable – 18,284 1,364Exchange of intercompany payable with loan payable – – 469Investment assets received through reduction of intercompany loan receivable – – 468Paydown of FRBNY Credit Facility by subsidiary – – 4,068Other capital contributions – net 579 523 346..................................................................................................................................................................................................................................AIG 2012 Form 10-K 343
PART II..............................................................................................................................................................................................ITEM 9 / CHANGES IN AND DISAGREEMENTS WITHACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE..............................................................................................................................................................................................None.ITEM 9A / CONTROLS AND PROCEDURES..............................................................................................................................................................................................EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES..............................................................................................................................................................................................Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filedor submitted under the Securities Exchange Act of 1934, as amended (the Exchange Act) is recorded, processed,summarized and reported within the time periods specified in SEC rules and forms and that such information isaccumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, toallow timely decisions regarding required disclosures. In connection with the preparation of this Annual Report onForm 10-K, an evaluation was carried out by AIG management, with the participation of AIG’s Chief Executive Officerand Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined inRules 13a-15(e) and 15d-15(e) under the Exchange Act, as of December 31, 2012. Based on this evaluation, AIG’sChief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures wereeffective as of December 31, 2012.Management’s Report on Internal Control Over Financial Reporting..............................................................................................................................................................................................Management of AIG is responsible for establishing and maintaining adequate internal control over financial reporting.AIG’s internal control over financial reporting is a process, under the supervision of AIG’s Chief Executive Officer andChief Financial Officer, designed to provide reasonable assurance regarding the reliability of financial reporting andthe preparation of AIG’s financial statements for external purposes in accordance with U.S. GAAP.Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may becomeinadequate because of changes in conditions, or that the degree of compliance with the policies or procedures maydeteriorate.AIG management conducted an assessment of the effectiveness of our internal control over financial reporting as ofDecember 31, 2012 based on the criteria established in Internal Control – Integrated Framework issued by theCommittee of Sponsoring Organizations of the Treadway Commission (COSO).AIG management has concluded that, as of December 31, 2012, our internal control over financial reporting waseffective based on the criteria articulated in Internal Control – Integrated Framework issued by the COSO. Theeffectiveness of our internal control over financial reporting as of December 31, 2012 has been audited byPricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report, which isincluded in this Annual Report on Form 10-K.Changes in Internal Control Over Financial Reporting..............................................................................................................................................................................................We continue our implementation of new technology solutions, which began in 2010, to mitigate the reliance onmanual controls and to improve internal controls relating to the period-end financial reporting and consolidationprocess, income taxes and reporting for non-standard transactions. As a result, we have updated our internalcontrols to accommodate the modifications to our business processes and accounting procedures. We haveevaluated the effect on our internal control over financial reporting of this implementation for the quarter endedDecember 31, 2012, and determined that this conversion has not materially affected, and is not reasonably likely tomaterially affect, our internal control over financial reporting. There have been no other changes in our internalcontrol over financial reporting that have occurred during the quarter ended December 31, 2012 that have materiallyaffected, or are reasonably likely to materially affect, our internal control over financial reporting...................................................................................................................................................................................................................................344 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 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 / INVESTMENTS...............
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ITEM 7 / ENTERPRISE RISK MANAGEMENT
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ITEM 7 / GLOSSARY..................
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ITEM 7 / GLOSSARY..................
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ITEM 7A / QUANTITATIVE AND QUALITAT
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ITEM 8 / INDEX TO FINANCIAL STATEME
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AMERICAN INTERNATIONAL GROUP, INC.C
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ITEM 8 / NOTE 1. BASIS OF PRESENTAT
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ITEM 8 / NOTE 2. SUMMARY OF SIGNIFI
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ITEM 8 / NOTE 3. SEGMENT INFORMATIO
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ITEM 8 / NOTE 4. DIVESTED BUSINESSE
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ITEM 8 / NOTE 4. DIVESTED BUSINESSE
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ITEM 8 / NOTE 5. BUSINESS COMBINATI
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ITEM 8 / NOTE 6. FAIR VALUE MEASURE
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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 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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Page 363 and 364: PART IV............................
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Page 393 and 394: CERTIFICATIONSI, Robert H. Benmosch
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Page 399: American International Group, Inc.1
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