AIG 2011 Annual Report Download - page 213

American International Group, Inc.
Consolidated Statement of Operations
Years Ended December 31,
(dollars in millions, except per share data) 2011 2010 2009
Revenues:
Premiums $ 38,990 $ 45,319 $ 48,583
Policy fees 2,705 2,710 2,656
Net investment income 14,755 20,934 18,992
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities (1,216) (1,712) (6,096)
Portion of other-than-temporary impairments on available for sale fixed maturity securities
recognized in Accumulated other comprehensive income 168 (812) 316
Net other-than-temporary impairments on available for sale securities recognized in net
income (loss) (1,048) (2,524) (5,780)
Other realized capital gains 1,569 2,349 570
Total net realized capital gains (losses) 521 (175) (5,210)
Aircraft leasing revenue 4,508 4,749 4,967
Other income 2,758 3,989 5,459
Total revenues 64,237 77,526 75,447
Benefits, claims and expenses:
Policyholder benefits and claims incurred 33,449 41,394 45,311
Interest credited to policyholder account balances 4,446 4,480 4,704
Amortization of deferred acquisition costs 8,019 9,134 9,442
Other acquisition and insurance expenses 6,091 6,775 6,818
Interest expense 3,871 7,981 14,358
Aircraft leasing expenses 3,974 4,050 2,385
Net loss on extinguishment of debt (see Note 1) 2,908 104 -
Net (gain) loss on sale of properties and divested businesses 74 (17,767) 1,271
Other expenses 2,470 3,439 5,465
Total benefits, claims and expenses 65,302 59,590 89,754
Income (loss) from continuing operations before income tax expense (benefit) (1,065) 17,936 (14,307)
Income tax expense (benefit):
Current 95 644 2,802
Deferred (18,131) 5,215 (4,291)
Income tax expense (benefit) (18,036) 5,859 (1,489)
Income (loss) from continuing operations 16,971 12,077 (12,818)
Income (loss) from discontinued operations, net of income tax expense (benefit) (see Note 4) 1,535 (2,064) 505
Net income (loss) 18,506 10,013 (12,313)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests:
Nonvoting, callable, junior and senior preferred interests 634 1,818 140
Other 55 355 (1,576)
Total net income (loss) from continuing operations attributable to noncontrolling interests 689 2,173 (1,436)
Net income from discontinued operations attributable to noncontrolling interests 19 54 72
Total net income (loss) attributable to noncontrolling interests 708 2,227 (1,364)
Net income (loss) attributable to AIG $ 17,798 $ 7,786 $ (10,949)
Net income (loss) attributable to AIG common shareholders $ 16,986 $ 1,583 $ (12,244)
Income (loss) per common share attributable to AIG common shareholders:
Basic:
Income (loss) from continuing operations $ 8.60 $ 14.75 $ (93.69)
Income (loss) from discontinued operations $ 0.84 $ (3.15) $ 3.21
Diluted:
Income (loss) from continuing operations $ 8.60 $ 14.75 $ (93.69)
Income (loss) from discontinued operations $ 0.84 $ (3.15) $ 3.21
Weighted average shares outstanding:
Basic 1,799,385,757 136,585,844 135,324,896
Diluted 1,799,458,497 136,649,280 135,324,896
See Accompanying Notes to Consolidated Financial Statements.
AIG 2011 Form 10-K 199