AIG 2015 Annual Report Download - page 362

362
Notes to Condensed Financial Information of Registrant
American International Group, Inc.’s (the Registrant) investments in consolidated subsidiaries are stated at cost plus equity in
undistributed income of consolidated subsidiaries. The accompanying condensed financial statements of the Registrant should
be read in conjunction with the consolidated financial statements and notes thereto of American International Group, Inc. and
subsidiaries included in the Registrant’s 2015 Annual Report on Form 10-K for the year ended December 31, 2015 (2015
Annual Report on Form 10-K) filed with the Securities and Exchange Commission on February 19, 2016.
The Registrant includes in its Statement of Income dividends from its subsidiaries and equity in undistributed income (loss) of
consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries.
Certain prior period amounts have been reclassified to conform to the current period presentation.
The five-year debt maturity schedule is incorporated by reference from Note 14 to Consolidated Financial Statements.
The Registrant files a consolidated federal income tax return with certain subsidiaries and acts as an agent for the
consolidated tax group when making payments to the Internal Revenue Service. The Registrant and its subsidiaries have
adopted, pursuant to a written agreement, a method of allocating consolidated Federal income taxes. Amounts allocated to the
subsidiaries under the written agreement are included in Due from affiliates in the accompanying Condensed Balance Sheets.
Income taxes in the accompanying Condensed Balance Sheets are composed of the Registrant’s current and deferred tax
assets, the consolidated group’s current income tax receivable, deferred taxes related to tax attribute carryforwards of AIG’s
U.S. consolidated income tax group and a valuation allowance to reduce the consolidated deferred tax asset to an amount
more likely than not to be realized. See Note 22 to the Consolidated Financial Statements for additional information.
The consolidated U.S. deferred tax asset for net operating loss, capital loss and tax credit carryforwards and valuation
allowance are recorded by the Parent Company, which files the consolidated U.S. Federal income tax return, and are not
allocated to its subsidiaries. Generally, as, and if, the consolidated net operating losses and other tax attribute carryforwards
are utilized, the intercompany tax balance will be settled with the subsidiaries.