AIG 2005 Annual Report Download - page 186

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Notes to Consolidated Financial Statements Continued
23. Information Provided in Connection With Outstanding Debt
Continued
CONDENSED CONSOLIDATING STATEMENT OF INCOME
American
International
Group, Inc. AGC Other Consolidated
(in millions) Guarantor Issuer Subsidiaries Eliminations AIG
Year Ended December 31, 2005
Operating income $ (1,569) $ (200) $ 16,982 $ – $ 15,213
Equity in undistributed net income of consolidated
subsidiaries 10,368 2,530 – (12,898) –
Dividend income from consolidated subsidiaries 1,746 – – (1,746) –
Income taxes (benefits) 68 (92) 4,282 – 4,258
Minority interest – – (478) – (478)
Net income (loss) $ 10,477 $ 2,422 $ 12,222 $ (14,644) $ 10,477
Year Ended December 31, 2004
Operating income $ 161 $ 90 $14,594 $ – $14,845
Equity in undistributed net income of consolidated
subsidiaries 8,705 2,048 – (10,753) –
Dividend income from consolidated subsidiaries 1,836 65 – (1,901) –
Income taxes (benefits) 863 31 3,513 – 4,407
Minority interest – – (455) – (455)
Cumulative effect of an accounting change – – (144) – (144)
Net income (loss) $ 9,839 $2,172 $10,482 $(12,654) $ 9,839
Year Ended December 31, 2003
Operating income $ (708) $ (98) $12,713 $ – $11,907
Equity in undistributed net income of consolidated
subsidiaries 7,708 1,804 – (9,512) –
Dividend income from consolidated subsidiaries 1,471 196 – (1,667) –
Income taxes (benefits) 363 (23) 3,216 – 3,556
Minority interest – – (252) – (252)
Cumulative effect of an accounting change – – 9 – 9
Net income (loss) $ 8,108 $1,925 $ 9,254 $(11,179) $ 8,108
134 AIG m Form 10-K