AIG 2005 Annual Report Download - page 142
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Notes to Consolidated Financial Statements Continued
2. Segment Information
Continued
(a) The following table summarizes the operations by major operating segment for the years ended December 31, 2005, 2004
and 2003:
Operating Segments
Life
Insurance
General & Retirement Financial Asset Reclassifications
(in millions) Insurance Services Services Management Other(a) Total and Eliminations Consolidated
2005
Revenues(b) $ 45,174 $ 47,316 $ 10,525 $ 5,325 $ 565 $ 108,905 $ – $ 108,905
Interest expense 7 83 5,279 11 293 5,673 – 5,673
Operating income (loss)
before minority interest 2,315 8,844 4,276 2,253 (2,475)(c) 15,213 – 15,213
Income taxes (benefits) 140 2,176 1,366 718 (142) 4,258 – 4,258
Depreciation expense 273 268 1,447 43 169 2,200 – 2,200
Capital expenditures 417 590 6,300 25 194 7,526 – 7,526
Identifiable assets 150,667 480,622 166,488 81,080 93,154 972,011 (118,641) 853,370
2004
Revenues(b) $ 41,961 $ 43,400 $ 7,495 $ 4,714 $ 96 $ 97,666 $ – $ 97,666
Interest expense 9 63 4,041 8 306 4,427 – 4,427
Operating income (loss)
before minority interest 3,177 7,923 2,180 2,125 (560) 14,845 – 14,845
Income taxes (benefits) 616 2,526 654 753 (142) 4,407 – 4,407
Depreciation expense 251 262 1,366 19 137 2,035 – 2,035
Capital expenditures 350 480 4,481 11 207 5,529 – 5,529
Identifiable assets 131,658 447,841 165,995 80,075 79,890 905,459 (104,314) 801,145
2003
Revenues(b) $ 33,833 $ 36,678 $ 6,242 $ 3,651 $ (983) $ 79,421 $ – $ 79,421
Interest expense 4 68 3,817 8 322 4,219 – 4,219
Operating income (loss)
before minority interest 4,502 6,807 1,182 1,316 (1,900) 11,907 – 11,907
Income taxes (benefits) 1,146 2,229 287 465 (571) 3,556 – 3,556
Depreciation expense 204 244 1,261 15 137 1,861 – 1,861
Capital expenditures 284 483 5,461 19 239 6,486 – 6,486
Identifiable assets 117,511 372,126 141,667 64,047 69,988 765,339 (89,737) 675,602
(a) Includes AIG Parent and other operations which are not required to be reported separately.
(b) Represents the sum of General Insurance net premiums earned, Life Insurance & Retirement Services GAAP premiums, net investment income,
Financial Services interest, lease and finance charges, Asset Management advisory and management fees and net investment income from guaranteed
investment contracts, and realized capital gains (losses).
(c) Includes settlement costs of $1.64 billion as described in Note 12(i).
90 AIG m Form 10-K