AIG 2011 Annual Report Download - page 375

American International Group, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Three Months Ended
March 31, June 30, September 30, December 31,
(dollars in millions, except per share data) 2011 2010 2011 2010 2011 2010 2011 2010
Total revenues $ 17,436 $ 18,555 $ 16,676 $ 18,314 $ 12,716 $ 19,455 $ 17,409 $ 21,202
Income (loss) from continuing
operations before income tax expense
(benefit) (1,380) 1,641 1,806 1,501 (4,358) 306 2,867 14,488
Income (loss) from discontinued
operations, net of income tax expense
(benefit) 1,653 343 (37) (2,611) (221) (1,833) 140 2,037
Net income (loss) 473 2,431 2,057 (2,115) (3,945) (2,013) 19,921 11,710
Net income from continuing operations
attributable to noncontrolling
interests:
Nonvoting, callable, junior, and
senior preferred interests 252 519 141 508 145 388 96 403
Other (55) 119 64 20 19 104 27 112
Total net income from continuing
operations attributable to
noncontrolling interests 197 638 205 528 164 492 123 515
Net income (loss) attributable to AIG $ 269 $ 1,783 $ 1,840 $ (2,656) $ (4,109) $ (2,517) $ 19,798 $ 11,176
Earnings (loss) per common share
attributable to AIG common
shareholders:
Basic:
Income (loss) from continuing
operations $ (1.41) $ 2.16 $ 1.03 $ (0.25) $ (2.05) $ (4.95) $ 10.36 $ 13.60
Income (loss) from discontinued
operations $ 1.06 $ 0.50 $ (0.03) $ (19.32) $ (0.11) $ (13.58) $ 0.07 $ 3.00
Diluted:
Income (loss) from continuing
operations $ (1.41) $ 2.16 $ 1.03 $ (0.25) $ (2.05) $ (4.95) $ 10.36 $ 13.60
Income (loss) from discontinued
operations $ 1.06 $ 0.50 $ (0.03) $ (19.32) $ (0.11) $ (13.58) $ 0.07 $ 3.00
Weighted average shares outstanding:
Basic 1,557,748,353 135,658,680 1,836,713,069 135,813,034 1,899,500,628 135,879,125 1,898,734,116 138,395,856
Diluted 1,557,748,353 135,724,939 1,836,771,513 135,813,034 1,899,500,628 135,879,125 1,898,845,071 138,447,775
Noteworthy quarterly items – income
(expense):
Other-than-temporary impairments (254) (864) (181) (583) (496) (824) (349) (768)
Net gain (loss) on sale of divested
businesses (72) (76) (2) 198 (2) 4217,641
Adjustment to federal and foreign
deferred tax valuation allowance (563) 750 570 (539) (1,226) 110 17,780 (1,807)
Accelerated amortization of prepaid
commitment fee asset -(162) -(76) -(762) -(705)
Reserve strengthening charge -------(4,203)
Net gain (loss) on extinguishment of
debt (3,313) -(79) ---484 (104)
Aircraft Leasing impairment charges,
fair value adjustments and lease-
related charges (113) (431) (42) (66) (1,518) (465) (16) (742)
Change in fair value of AIA securities 1,062 -1,521 -(2,315) -1,021 (638)
Change in fair value of Maiden Lane
Interests 995 911 (843) 478 (974) 457 218 459
AIG 2011 Form 10-K 361
23. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
CONSOLIDATED STATEMENTS OF INCOME (LOSS)