AIG 2015 Annual Report Download - page 163

ITEM 7 / LIQUIDITY AND CAPITAL RESOURCES
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Contractual Obligations
The following table summarizes contractual obligations in total, and by remaining maturity:
December 31, 2015 Payments due by Period
Total 2017 - 2019 -
(in millions) Payments 2016 2018 2020 Thereafter
Insurance operations
Loss reserves $78,090 $19,035 $22,202 $ 12,243 $24,610
Insurance and investment contract liabilities 229,806 15,691 28,322 24,999 160,794
Borrowings 813 - - 106 707
Interest payments on borrowings 1,141 54 109 109 869
Operating leases 986 253 350 197 186
Other long-term obligations 25 411 6 4
Tot al $310,861 $35,037 $50,994 $ 37,660 $187,170
Other
Borrowings $23,548 $1,619 $3,208 $ 2,475 $16,246
Interest payments on borrowings 17,142 1,067 1,998 1,759 12,318
Operating leases 149 51 52 23 24
Other long-term obligations 107 -- -107
Tot al $40,946 $2,737 $5,258 $ 4,257 $28,695
Consolidated
Loss reserves $78,090 $19,035 $22,202 $ 12,243 $24,610
Insurance and investment contract liabilities 229,806 15,691 28,322 24,999 160,794
Borrowings 24,361 1,619 3,208 2,581 16,953
Interest payments on borrowings 18,283 1,121 2,107 1,868 13,187
Operating leases 1,135 304 402 219 210
Other long-term obligations(a) 132 411 6111
Tot al(b) $351,807 $37,774 $56,252 $ 41,916 $215,865
(a) Primarily includes contracts to purchase future services and other capital expenditures.
(b) Does not reflect unrecognized tax benefits of $4.3 billion, the timing of which is uncertain.
Loss Reserves
Loss reserves relate to our Non-Life Insurance Companies and represent future losses and loss adjustment expense
payments estimated based on historical loss development payment patterns. Due to the significance of the assumptions used,
the payments by period presented above could be materially different from actual required payments. We believe that our Non-
Life Insurance Companies maintain adequate financial resources to meet the actual required payments under these
obligations.
Insurance and Investment Contract Liabilities
Insurance and investment contract liabilities, including GIC liabilities, relate to our Life Insurance Companies. These liabilities
include various investment-type products with contractually scheduled maturities, including periodic payments of a term certain
nature. These liabilities also include benefit and claim liabilities, of which a significant portion represents policies and contracts
that do not have stated contractual maturity dates and may not result in any future payment obligations. For these policies and
contracts (i) we are not currently making payments until the occurrence of an insurable event, such as death or disability,
(ii) payments are conditional on survivorship or (iii) payment may occur due to a surrender or other non-scheduled event
beyond our control.