AIG 2013 Annual Report Download - page 273

The following is the aggregated summarized financial information of our equity method investees, including
those for which the fair value option has been elected:
Operating results:
Total revenues $ 9,438 $ 12,749
Total expenses (5,183) (3,530)
Net income $ 4,255 $ 9,219
Balance sheet:
Total assets $ 139,681
Total liabilities $ (26,529)
The following table presents the carrying value and ownership percentage of equity method investments:
All other equity method investments $ 11,544 Various
Summarized financial information for these equity method investees may be presented on a lag, due to the
unavailability of information for the investees at the respective balance sheet date, and is included for the periods in
which we held an equity method ownership interest.
Also included in Other invested assets are real estate held for investment and aircraft asset investments held by
non-Aircraft Leasing subsidiaries. These investments are reported at cost, less depreciation and subject to
impairment review, as discussed below.
Investments in life settlements are accounted for under the investment method. Under the investment method, we
recognize our initial investment in life settlements at the transaction price plus all initial direct external costs.
Continuing costs to keep the policy in force, primarily life insurance premiums, increase the carrying value of the
investment. We recognize income on individual investments in life settlements when the insured dies, at an amount
equal to the excess of the investment proceeds over the carrying amount of the investment at that time. These
investments are subject to impairment review, as discussed below.
During 2013, 2012 and 2011, income recognized on investments in life settlements was $334 million, $253 million
and $320 million, respectively, and is included in Net investment income in the Consolidated Statements of Income.
Summarized Financial Information of Other Equity Method Investees
Other Investments
Investments in Life Settlements
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AIG 2013 Form 10-K 255
ITEM 8 / NOTE 6. INVESTMENTS
Years Ended December 31,
(in millions) 2013 2012 2011
$ 19,181
(5,515)
$ 13,666
At December 31,
(in millions) 2013 2012
$ 150,586
$ (25,134)
2013 2012
Carrying Ownership Carrying Ownership
(in millions, except percentages) Value Percentage Value Percentage
$ 12,921 Various
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