AIG 2013 Annual Report Download - page 155

currently expect to replace or extend the Four-Year Facility on or prior to its expiration in October 2016, although no
assurance can be given that the Four-Year Facility will be replaced on favorable terms or at all.
The Four-Year Facility provides for $4.0 billion of unsecured revolving loans, which includes a $2.0 billion letter of
credit sublimit. As of December 31, 2013, a total of approximately $3.9 billion remains available under the Four-Year
Facility, of which approximately $1.9 billion remains available for letters of credit. During each of the third and fourth
quarters of 2013, we reduced our utilization of letters of credit under the Four-Year Facility. Our ability to borrow
under the Four-Year Facility is not contingent on our credit ratings. However, our ability to borrow under the
Four-Year Facility is conditioned on the satisfaction of certain legal, operating, administrative and financial covenants
and other requirements contained in the Four-Year Facility. These include covenants relating to our maintenance of a
specified total consolidated net worth and total consolidated debt to total consolidated capitalization. Failure to satisfy
these and other requirements contained in the Four-Year Facility would restrict our access to the Four-Year Facility
and could have a material adverse effect on our financial condition, results of operations and liquidity. We expect to
borrow under the Four-Year Facility from time to time, and may use the proceeds for general corporate purposes.
AIG Parent has access to a contingent liquidity facility of up to $500 million as a potential source of liquidity for
general corporate purposes. Under this facility, we have the unconditional right, prior to December 15, 2015, to issue
up to $500 million in senior debt to the counterparty, based on a put option agreement between AIG Parent and the
counterparty.
Our ability to borrow under this facility is not contingent on our credit ratings.
The following table summarizes contractual obligations in total, and by remaining maturity:
Insurance operations
Loss reserves
Insurance and investment contract liabilities
Borrowings
Interest payments on borrowings
Operating leases
Other long-term obligations
Total
Other and Held for Sale
Borrowings(a)
Interest payments on borrowings
Operating leases
Aircraft purchase commitments
Other long-term obligations
Total
Consolidated
Loss reserves
Insurance and investment contract liabilities
Borrowings(a)
Interest payments on borrowings
Operating leases
Aircraft purchase commitments
Other long-term obligations(b)
Total(c)
(a) Includes $21.4 billion of borrowings related to ILFC, which is reported as held for sale.
(b) Primarily includes contracts to purchase future services and other capital expenditures.
(c) Does not reflect unrecognized tax benefits of $4.3 billion ($4.0 billion excluding ILFC), the timing of which is uncertain.
Contingent Liquidity Facilities
Contractual Obligations
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AIG 2013 Form 10-K 137
ITEM 7 / LIQUIDITY AND CAPITAL RESOURCES
Payments due by Period
December 31, 2013 Total 2015 – 2017 –
(in millions) Payments 2014 2016 2018 Thereafter
$ 85,102 $ 21,993 $ 24,355 $ 12,574 $ 26,180
227,715 13,332 28,594 25,245 160,544
1,991 7 46 8 1,930
2,708 107 217 219 2,165
1,219 267 406 262 284
32 4 15 7 6
$ 318,767 $ 35,710 $ 53,633 $ 38,315 $ 191,109
$ 59,214 $ 6,369 $ 12,663 $ 17,432 $ 22,750
35,433 3,309 5,822 4,068 22,234
258 81 75 41 61
21,714 2,162 6,147 8,887 4,518
259 74 52 10 123
$ 116,878 $ 11,995 $ 24,759 $ 30,438 $ 49,686
$ 85,102 $ 21,993 $ 24,355 $ 12,574 $ 26,180
227,715 13,332 28,594 25,245 160,544
61,205 6,376 12,709 17,440 24,680
38,141 3,416 6,039 4,287 24,399
1,477 348 481 303 345
21,714 2,162 6,147 8,887 4,518
291 78 67 17 129
$ 435,645 $ 47,705 $ 78,392 $ 68,753 $ 240,795
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