AIG 2005 Annual Report Download - page 125
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AMERICAN INTERNATIONAL GROUP, INC. AND SUBSIDIARIES
Consolidated Balance Sheet Continued
December 31,
(in millions, except share data) 2005 2004
Liabilities:
Reserve for losses and loss expenses $ 77,169 $ 61,878
Reserve for unearned premiums 24,243 23,400
Future policy benefits for life and accident and health insurance contracts 108,807 104,740
Policyholders’ contract deposits 227,027 216,474
Other policyholders’ funds 10,870 10,280
Reserve for commissions, expenses and taxes 4,769 4,629
Insurance balances payable 3,564 3,661
Funds held by companies under reinsurance treaties 4,174 3,404
Income taxes payable – deferred 6,607 6,588
Financial services liabilities:
Borrowings under obligations of guaranteed investment agreements 20,811 18,919
Securities sold under agreements to repurchase, at contract value 11,047 23,581
Trading liabilities 2,546 2,503
Securities and spot commodities sold but not yet purchased, at market value 5,975 5,404
Unrealized loss on swaps, options and forward transactions 12,740 15,985
Trust deposits and deposits due to banks and other depositors 4,877 4,248
Commercial paper 6,514 6,724
Notes, bonds, loans and mortgages payable 71,313 61,296
Commercial paper 2,694 2,969
Notes, bonds, loans and mortgages payable 7,126 5,502
Liabilities connected to trust preferred stock 1,391 1,489
Separate and variable accounts 63,797 57,741
Minority interest 5,124 4,831
Securities lending payable 60,409 49,972
Other liabilities 23,273 25,055
Total liabilities 766,867 721,273
Preferred shareholders’ equity in subsidiary companies 186 199
Commitments and Contingent Liabilities (See Note 12)
Shareholders’ equity:
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued 2005 and 2004 –
2,751,327,476 6,878 6,878
Additional paid-in capital 2,339 2,094
Retained earnings 72,330 63,468
Accumulated other comprehensive income 6,967 9,444
Treasury stock, at cost; 2005 – 154,680,704; 2004 – 154,904,286 shares of common stock (including
119,271,176 and 119,263,196 shares, respectively, held by subsidiaries) (2,197) (2,211)
Total shareholders’ equity 86,317 79,673
Total liabilities, preferred shareholders’ equity in subsidiary companies and shareholders’ equity $853,370 $801,145
See Accompanying Notes to Consolidated Financial Statements.
AIG m Form 10-K 73