AIG 2011 Annual Report Download - page 272

American International Group, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table presents the gross components of purchases, sales, issuances and settlements, net, shown
above:
Purchases, Sales,
Issuances and
(in millions) Purchases Sales Settlements Settlements, Net(a)
December 31, 2011
Assets:
Bonds available for sale:
Obligations of states, municipalities and political subdivisions $ 305 $ (4) $ (5) $ 296
Non-U.S. governments 4 (2) 3 5
Corporate debt 497 (27) (299) 171
RMBS 4,932 (205) (1,495) 3,232
CMBS 470 (34) (229) 207
CDO/ABS 1,067 (1) (1,498) (432)
Total bonds available for sale 7,275 (273) (3,523) 3,479
Bond trading securities:
Corporate debt - - (11) (11)
RMBS 305 (1) (65) 239
CMBS 221 (207) (109) (95)
CDO/ABS 331 (304) (350) (323)
Total bond trading securities 857 (512) (535) (190)
Equity securities available for sale:
Common stock - (31) (9) (40)
Preferred stock - - (1) (1)
Mutual funds - - (6) (6)
Total equity securities available for sale - (31) (16) (47)
Equity securities trading - - (1) (1)
Mortgage and other loans receivable - - 1 1
Other invested assets 718 (296) (1,161) (739)
Total assets $ 8,850 $ (1,112) $ (5,235) $ 2,503
Liabilities:
Policyholder contract deposits $ - $ (70) $ 26 $ (44)
Derivative liabilities, net:
Interest rate contracts - - (2) (2)
Foreign exchange contracts - - (5) (5)
Equity contracts 43 - (2) 41
Commodity contracts - - (22) (22)
Credit contracts - - 193 193
Other contracts - - 74 74
Total derivative liabilities, net 43 - 236 279
Other long-term debt(b) - - 555 555
Total liabilities $ 43 $ (70) $ 817 $ 790
(a) There were no issuances during year ended December 31, 2011.
(b) Includes GIAs, notes, bonds, loans and mortgages payable.
Both observable and unobservable inputs may be used to determine the fair values of positions classified in
Level 3 in the tables above. As a result, the unrealized gains (losses) on instruments held at December 31, 2011
and 2010 may include changes in fair value that were attributable to both observable (e.g., changes in market
interest rates) and unobservable inputs (e.g., changes in unobservable long-dated volatilities).
258 AIG 2011 Form 10-K