AIG 2013 Annual Report Download - page 89

Results of Operations
The following section provides a comparative discussion of our Results of Operations on a reported basis for the
three-year period ended December 31, 2013. Factors that relate primarily to a specific business segment are
discussed in more detail within that business segment discussion. For a discussion of the Critical Accounting
Estimates that affect the Results of Operations, see the Critical Accounting Estimates section of this MD&A.
The following table presents our consolidated results of operations:
Revenues:
Premiums $ 38,047 $ 39,026 (2)% (3)%
Policy fees 2,349 2,309 8 2
Net investment income 20,343 14,755 (22) 38
Net realized capital gains 930 691 88 35
Aircraft leasing revenue 4,504 4,508 (2) –
Other income 4,848 3,816 41 27
Total revenues 71,021 65,105 (3) 9
Benefits, claims and expenses:
Policyholder benefits and claims incurred 32,036 33,523 (8) (4)
Interest credited to policyholder account balances 4,340 4,432 (10) (2)
Amortization of deferred policy acquisition costs 5,709 5,486 (10) 4
Other acquisition and insurance expenses 9,235 8,458 (1) 9
Interest expense 2,319 2,444 (8) (5)
Aircraft leasing expenses 4,138 5,401 10 (23)
Loss on extinguishment of debt 32 2,908 NM (99)
Net loss on sale of properties and divested businesses 6,736 74 (99) NM
Other expenses 3,585 3,280 17 9
Total benefits, claims and expenses 68,130 66,006 (13) 3
Income (loss) from continuing operations before income tax
expense (benefit) 2,891 (901) 224 NM
Income tax expense (benefit) (808) (19,764) NM 96
Income from continuing operations 3,699 18,863 144 (80)
Income from discontinued operations, net of income tax
expense (benefit) 1 2,467 NM (100)
Net income 3,700 21,330 146 (83)
Less: Net income attributable to noncontrolling interests 262 708 (97) (63)
Net income attributable to AIG $ 3,438 $ 20,622 164% (83)%
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AIG 2013 Form 10-K 71
ITEM 7 / RESULTS OF OPERATIONS
Percentage Change
Years Ended December 31,
(in millions) 2013 2012 2011 2013 vs. 2012 2012 vs. 2011
$ 37,350
2,535
15,810
1,744
4,420
6,819
68,678
29,503
3,892
5,157
9,166
2,142
4,549
651
48
4,202
59,310
9,368
360
9,008
84
9,092
7
$ 9,085
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