AIG 2011 Annual Report Download - page 299

American International Group, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AIG’s interests in the assets and liabilities of consolidated and unconsolidated VIEs were classified in the
Consolidated Balance Sheet as follows:
Consolidated VIEs Unconsolidated VIEs
December 31,
(in billions) 2011 2010 2011 2010
Assets:
Available for sale securities $ 0.4 $ 3.3 $- $-
Trading securities 1.3 8.1 7.1 7.7
Mortgage and other loans receivable 0.5 0.7 --
Other invested assets 17.2 18.3 2.6 3.1
Other asset accounts*3.4 30.1 -0.1
Assets held for sale -0.4 -0.3
Total $ 22.8 $ 60.9 $ 9.7 $ 11.2
Liabilities:
Other long-term debt $ 1.7 $ 2.6 $- $-
Other liability accounts*0.9 2.2 --
Total $ 2.6 $ 4.8 $- $-
* Decrease from prior year was due to the repayment of the FRBNY Credit Facility from the AIA and ALICO SPVs pursuant to the
Recapitalization.
See Note 2(v) herein for the effect of consolidation under the amended accounting standard for the
consolidation of variable interest entities.
AIG is the primary beneficiary of the AIA and ALICO SPVs, as AIG has the power to direct the activities of
the SPVs that most significantly impact their economic performance and the obligation to absorb losses and the
right to receive benefits that could potentially be significant to the SPVs. See Notes 1 and 17 herein for further
discussion of the AIA and ALICO SPVs.
AIG, through AIG Global Real Estate, is an investor in various real estate investments, some of which are
VIEs. These investments are typically with unaffiliated third-party developers via a partnership or limited liability
company structure. The VIE’s activities consist of the development or redevelopment of commercial and
residential real estate. AIG’s involvement varies from being a passive equity investor or finance provider to
actively managing the activities of the VIE.
AIG’s insurance operations participate as passive investors in the equity issued primarily by third-party-managed
hedge and private equity funds. AIG’s insurance operations typically are not involved in the design or
establishment of VIEs, nor do they actively participate in the management of VIEs.
AIGFP is the primary beneficiary of Curzon Funding LLC, an asset-backed commercial paper conduit, the
assets of which serve as collateral for the conduit’s obligations.
AIG 2011 Form 10-K 285
BALANCE SHEET CLASSIFICATION
AIA AND ALICO SPVS
REAL ESTATE AND INVESTMENT FUNDS
COMMERCIAL PAPER CONDUIT