AIG 2011 Annual Report Download - page 316

American International Group, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table presents maturities of long-term debt (including unamortized original issue discount, hedge
accounting valuation adjustments and fair value adjustments, when applicable), excluding $1.9 billion in
borrowings of consolidated investments:
Year Ending
December 31, 2011
(in millions) Total 2012 2013 2014 2015 2016 Thereafter
AIG general borrowings $ 23,923 $ 183 $ 1,470 $ 500 $ 1,001 $ 1,719 $ 19,050
AIG borrowings supported by assets 24,720 3,757 1,517 2,398 1,182 2,134 13,732
ILFC 24,364 3,023 4,006 2,991 2,766 3,234 8,344
Other subsidiaries notes, bonds, loans and mortgages
payable 393344236353
Total $ 73,400 $ 6,966 $ 6,997 $ 5,893 $ 4,972 $ 7,093 $ 41,479
The following table presents maturities of AIG’s general borrowings:
Year Ending
December 31, 2011
(in millions) Total 2012 2013 2014 2015 2016 Thereafter
Notes and bonds payable $ 12,725 $ 27 $ 1,467 $ 500 $ 999 $ 1,719 $ 8,013
Junior subordinated debt 9,327 - - - - - 9,327
Loans and mortgages payable 234 156 3 - 2 - 73
SAFG, Inc. notes and bonds payable 298 - - - - - 298
Liabilities connected to trust preferred stock 1,339 - - - - - 1,339
Total general borrowings $ 23,923 $ 183 $ 1,470 $ 500 $ 1,001 $ 1,719 $ 19,050
Notes and Bonds Payable
In November 2011, AIG issued senior unsecured notes in exchange for specified series of its outstanding Junior
Subordinated Debentures. As a result of the exchange offer, AIG issued $256 million in 6.820 percent Dollar
notes due 2037, £662 million ($1.03 billion at the December 31, 2011 exchange rate) in 6.765 percent Sterling
notes due 2017 and A421 million ($545 million at the December 31, 2011 exchange rate) in 6.797 percent Euro
notes due 2017. For additional details regarding the exchange offer, see — Junior subordinated debt below.
In the fourth quarter of 2010, AIG issued an aggregate of $2.0 billion in senior unsecured notes, consisting of
$500 million in three-year notes and $1.5 billion in ten-year notes.
As of December 31, 2011, approximately $5.7 billion principal amount of senior notes were outstanding under
AIG’s medium-term note program. The maturity dates of these notes range from 2012 to 2052. To the extent
considered appropriate, AIG may enter into swap transactions to manage its effective borrowing rates with respect
to these notes.
As of December 31, 2011, the equivalent of $7.8 billion of notes were outstanding under AIG’s Euro
medium-term note program. The aggregate amount outstanding includes a $174 million gain resulting from foreign
exchange translation into U.S. dollars related to notes issued to fund the MIP. AIG has economically hedged the
currency exposure arising from its foreign currency denominated notes.
AIG maintains a shelf registration statement in Japan, providing for the issuance of up to 300 billion Japanese
Yen ($3.9 billion at the December 31, 2011 exchange rate) principal amount of senior notes and there was no
balance outstanding at December 31, 2011.
302 AIG 2011 Form 10-K
15. DEBT OUTSTANDING
AIG GENERAL BORROWINGS