AIG 2014 Annual Report Download - page 243

ITEM 8 / NOTE 3. SEGMENT INFORMATION
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Life Insurance Companies include the following major operating companies: American General Life Insurance Company
(American General Life); The Variable Annuity Life Insurance Company (VALIC); The United States Life Insurance Company
in the City of New York (U.S. Life) and AIG Fuji Life Insurance Company Limited (Fuji Life).
Prior periods have been revised to conform to the current period presentation for the above segment changes.
The following table presents AIG’s continuing operations by reportable segment:
Net Depreciation Pre-Tax
Total Investment Interest and Operating
(in millions) Revenues Income Expense Amortization Income (Loss)
2014
Commercial Insurance
Property Casualty $25,183 $4,298 $- $ 2,445 $4,248
Mortgage Guaranty 1,042 138 - 56 592
Institutional Markets 2,576 1,957 7 (215) 670
Total Commercial Insurance 28,801 6,393 7 2,286 5,510
Consumer Insurance
Retirement 9,784 6,489 23 (231) 3,495
Life 6,321 2,199 7 130 580
Personal Insurance 12,364 394 2 2,067 399
Total Consumer Insurance 28,469 9,082 32 1,966 4,474
Corporate and Other
Direct Investment book 1,479 - 218 (40) 1,241
Global Capital Markets 474 - - - 359
AIG Parent and Othe
r
*
2,960 700 1,598 386 (1,989)
Aircraft Leasing - - - - -
Consolidation and elimination (716) - (11) - 1
Total Corporate and Other 4,197 700 1,805 346 (388)
AIG Consolidation and elimination (466) (356) (126) (181) (22)
Total AIG Consolidated pre-tax operating income $61,001 $15,819 $1,718 $ 4,417 $9,574
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair values of fixed maturity securities designated to
living benefit liabilities, net of interest expense 260 260 - - 260
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains - - - - (217)
Loss on extinguishment of debt - - - - (2,282)
Net realized capital gains 739 - - - 739
Income from divested businesses 1,602 - - 31 2,169
Legal settlements related to legacy crisis matters 804 - - - 804
Legal reserves related to legacy crisis matters - - - - (546)
Pre-tax income $64,406 $16,079 $1,718 $ 4,448 $10,501
2013
Commercial Insurance
Property Casualty $ 25,108 $ 4,431 $ 8 $ 2,393 $ 4,095
Mortgage Guaranty 941 132 - 50 205
Institutional Markets 2,813 2,090 1 (160) 680
Total Commercial Insurance 28,862 6,653 9 2,283 4,980
Consumer Insurance
Retirement 9,431 6,628 3 (165) 3,490
Life 6,397 2,269 4 214 806
Personal Insurance 12,832 455 3 2,110 268
Total Consumer Insurance 28,660 9,352 10 2,159 4,564
Corporate and Other
Direct Investment book 1,825 - 353 (80) 1,448
Global Capital Markets 833 - - - 625
AIG Parent and Othe
r
*
1,908 309 2,112 301 (2,396)
Aircraft Leasing - - - - -
Consolidation and elimination (547) - (14) - 4
Total Corporate and Other 4,019 309 2,451 221 (319)
AIG Consolidation and elimination (17) (343) (328) (26) 165
Total AIG Consolidated pre-tax operating income $ 61,524 $ 15,971 $ 2,142 $ 4,637 $ 9,390
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair values of fixed maturity securities designated to
living benefit liabilities, net of interest expense (161) (161) - - (161)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains - - - - (1,608)
Other income (expense) - net - - - - (72)
Loss on extinguishment of debt - - - - (651)