AIG 2011 Annual Report Download - page 368

American International Group, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The expected future benefit payments, net of participants’ contributions, with respect to the defined benefit
pension plans and other postretirement benefit plans, are as follows:
Pension Postretirement
Non-U.S. U.S. Non-U.S. U.S.
(in millions) Plans Plans Plans Plans
2012 $45$276$ 1$16
2013 43 292 1 16
2014 44 298 1 17
2015 42 304 1 17
2016 45 311 1 18
2017 - 2021 266 1,654 8 104
In addition to several small defined contribution plans, AIG sponsors a voluntary savings plan for U.S.
employees which provides for salary reduction contributions by employees and matching U.S. contributions by
AIG of up to seven percent of annual salary depending on the employees’ years of service subject to certain
compensation limits. Pre-tax expense associated with this plan was $99 million, $103 million and $100 million in
2011, 2010 and 2009, respectively.
Effective January 1, 2012, the plan was amended to change the company matching contribution to 100% of the
first six percent of participant contributions and to allow all employees to contribute up to the annual IRS
contribution maximum of $17,000.
The Department of the Treasury holds 1,455,037,962 shares of AIG Common Stock, representing ownership of
approximately 77 percent of the outstanding AIG Common Stock at December 31, 2011. For discussion of the
Recapitalization and the ownership by the Department of the Treasury, see Note 1 herein.
A Schedule 13G filed February 17, 2012 reports aggregate ownership of 116,573,542 shares, or approximately
6.1 percent (based on the AIG Common Stock outstanding, as adjusted to reflect the warrants owned), of AIG
Common Stock and warrants (92,044,583 shares plus 24,528,959 warrants) as of December 31, 2011, including
securities beneficially owned by The Fairholme Fund and other funds and investment vehicles managed by
Fairholme Capital Management and securities owned by Mr. Bruce Berkowitz personally.
The calculation of ownership interest for purposes of the AIG Tax Asset Protection Plan and Article 13 of
AIG’s Restated Certificate of Incorporation is different than beneficial ownership for Schedule 13G. To the best
of AIG’s knowledge, the Department of the Treasury is the only person deemed for such purposes to have an
ownership interest of 4.99 percent or more of AIG Common Stock at December 31, 2011.
The following table presents income (loss) from continuing operations before income tax expense (benefit) by U.S.
and foreign location in which such pre-tax income (loss) was earned or incurred.
Years Ended December 31,
(in millions) 2011 2010 2009
U.S. $ (1,942) $ 13,208 $ (17,122)
Foreign 877 4,728 2,815
Total $ (1,065) $ 17,936 $ (14,307)
354 AIG 2011 Form 10-K
DEFINED CONTRIBUTION PLANS
21. OWNERSHIP
22. INCOME TAXES