AIG 2011 Annual Report Download - page 269

American International Group, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following tables present changes during 2011 and 2010 in Level 3 assets and liabilities measured at fair value
on a recurring basis, and the realized and unrealized gains (losses) recorded in the Consolidated Statement of
Operations, during 2011 and 2010 related to the Level 3 assets and liabilities that remained in the Consolidated
Balance Sheet at December 31, 2011 and 2010:
Net Changes in
Realized and Unrealized Gains
Unrealized Accumulated Purchases, (Losses) Included
Fair value Gains (Losses) Other Sales, Gross Gross Fair value in Income on
Beginning Included Comprehensive Issuances and Transfers Transfers End Instruments Held
(in millions) of Year(a) in Income Income Settlements, Net in out of Year at End of Year
December 31, 2011
Assets:
Bonds available for sale:
Obligations of states,
municipalities and political
subdivisions $ 609 $ 2 $ 112 $ 296 $ 17 $ (76) $ 960 $ -
Non-U.S. governments 5- - 5-(1)9 -
Corporate debt 2,262 11 (25) 171 2,480 (2,964) 1,935 -
RMBS 6,367 (50) 288 3,232 1,093 (53) 10,877 -
CMBS 3,604 (100) 239 207 134 (129) 3,955 -
CDO/ABS 4,241 73 142 (432) 852 (656) 4,220 -
Total bonds available for sale 17,088 (64) 756 3,479 4,576 (3,879) 21,956 -
Bond trading securities:
Corporate debt - - - (11) 18 - 7 1
RMBS 91 (27) - 239 - - 303 (28)
CMBS 506 92 - (95) 292 (241) 554 87
CDO/ABS 9,431 (660) - (323) 48 (64) 8,432 (677)(b)
Total bond trading securities 10,028 (595) - (190) 358 (305) 9,296 (617)
Equity securities available for
sale:
Common stock 61 28 (4) (40) 18 (6) 57 -
Preferred stock 64 (1) 32 (1) 5 - 99 -
Mutual funds -- - (6)6-- -
Total equity securities available for
sale 125 27 28 (47) 29 (6) 156 -
Equity securities trading 1- - (1)--- -
Mortgage and other loans
receivable -- - 1--1 -
Other invested assets 7,414 (10) 139 (739) 251 (437) 6,618 2
Total $ 34,656 $ (642) $ 923 $ 2,503 $ 5,214 $ (4,627) $ 38,027 $ (615)
Liabilities:
Policyholder contract deposits $ (445) $ (429) $ - $ (44) $ - $ - $ (918) $ 508
Derivative liabilities, net:
Interest rate contracts 732 46 - (2) 30 (21) 785 (90)
Foreign exchange contracts 16 (11) - (5) 2 - 2 1
Equity contracts 22 (16) - 41 (7) (12) 28 (15)
Commodity contracts 23 1 - (22) - - 2 (1)
Credit contracts (3,798) 332 - 193 - - (3,273) 493
Other contracts (112) (14) (51) 74 (30) 166 33 (98)
Total derivative liabilities, net (3,117) 338 (51) 279 (5) 133 (2,423) 290
Other long-term debt(c) (982) (60) - 555 (21) - (508) (135)
Total $ (4,544) $ (151) $ (51) $ 790 $ (26) $ 133 $ (3,849) $ 663
AIG 2011 Form 10-K 255
CHANGES IN LEVEL 3 RECURRING FAIR VALUE MEASUREMENTS