AIG 2011 Annual Report Download - page 277

American International Group, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table presents assets (held as of the dates presented, but excluding discontinued operations)
measured at fair value on a non-recurring basis at the time of impairment and the related impairment charges
recorded during the periods presented:
Assets at Fair Value Impairment Charges
Non-Recurring Basis December 31,
(in millions) Level 1 Level 2 Level 3 Total 2011 2010 2009
December 31, 2011
Goodwill $-$-$-$-$-$ - $ 693
Investment real estate - - 457 457 18 604 1,198
Other investments - - 2,199 2,199 639 323 908
Aircraft*- - 1,683 1,683 1,693 1,614 51
Other assets - -4435 225
Total $ - $ - $ 4,343 $ 4,343 $ 2,353 $ 2,546 $ 3,075
December 31, 2010
Investment real estate $ - $ - $ 1,588 $ 1,588
Other investments - 4 2,388 2,392
Aircraft - - 4,224 4,224
Other assets - - 2 2
Total $ - $ 4 $ 8,202 $ 8,206
* Aircraft impairment charges include fair value adjustments on aircraft.
Impairment charges shown above for the 12 months ended December 31, 2010 exclude a $4.6 billion of goodwill
impairment charges associated with the sales of ALICO and AIG Star and AIG Edison, all of which are reported
in discontinued operations.
During 2009, AIG recognized goodwill impairment charges primarily in the Institutional Asset Management
business. These impairment charges related to a significant decline in certain consolidated warehoused investments
as well as the consideration of recent transaction activity. AIG also recognized impairment charges related to
certain investment real estate, proprietary real estate, private equity investments and other long-lived assets.
Under the fair value option, AIG may elect to measure at fair value financial assets and financial liabilities that
are not otherwise required to be carried at fair value. Subsequent changes in fair value for designated items are
reported in earnings.
AIG 2011 Form 10-K 263
FAIR VALUE OPTION