AIG 2013 Annual Report Download - page 95

The following table presents reconciliations of pre-tax income (loss) to pre-tax operating income (loss) by
reportable segment and after-tax operating income attributable to AIG, which are non-GAAP measures. See
Use of Non-GAAP Measures for additional information.
AIG Property Casualty
Pre-tax income $ 2,023 $ 2,100
Net realized capital gains (211) (957)
Legal settlements*(17) –
Other (income) expense – net (2) 5
Pre-tax operating income $ 1,793 $ 1,148
AIG Life and Retirement
Pre-tax income $ 3,780 $ 2,956
Legal settlements*(154) –
Changes in fair value of fixed maturity securities designated to hedge living
benefit liabilities, net of interest expense (37) –
Changes in benefit reserves and DAC, VOBA and SIA related to net realized
capital gains 1,201 327
Net realized capital gains (630) (6)
Pre-tax operating income $ 4,160 $ 3,277
Other Operations
Pre-tax loss $ (2,690) $ (5,988)
Changes in benefit reserves and DAC, VOBA and SIA related to net realized
capital (gains) losses ––
Net realized capital (gains) losses (289) 348
Net loss on sale of divested businesses 6,717 74
Legal reserves 754 20
Legal settlements*(39) –
Deferred gain on FRBNY credit facility – (296)
Loss on extinguishment of debt 32 3,204
Aircraft Leasing (338) 934
Pre-tax operating income (loss) $ 4,147 $ (1,704)
Total
Pre-tax operating income of reportable segments and Other Operations $ 10,100 $ 2,721
Consolidations, eliminations and other adjustments (18) (181)
Pre-tax operating income 10,082 2,540
Income tax benefits (expense) (3,187) 243
Noncontrolling interests excluding net realized capital gains (260) (697)
After-tax operating income attributable to AIG $ 6,635 $ 2,086
* Reflects income from settlements with financial institutions that participated in the creation, offering and sale of RMBS from which AIG realized
losses during the financial crisis.
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AIG 2013 Form 10-K 77
ITEM 7 / RESULTS OF OPERATIONS
Years Ended December 31,
(in millions) 2013 2012 2011
$ 5,133
(380)
(13)
72
$ 4,812
$ 6,505
(1,020)
161
1,486
(2,037)
$ 5,095
$ (2,449)
98
685
48
446
(119)
–
651
129
$ (511)
$ 9,396
165
9,561
(2,762)
(37)
$ 6,762
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