AIG 2006 Annual Report Download - page 182
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American International Group, Inc. and Subsidiaries
Notes to Consolidated Financial Statements Continued
8. Investment Information
Continued
The following table presents the amortized cost and estimated fair values of fixed maturity securities available for sale
and held to maturity at December 31, 2006, by contractual maturity. Actual maturities may differ from contractual
maturities because certain borrowers have the right to call or prepay certain obligations with or without call or
prepayment penalties.
Available for Sale Held to Maturity
Estimated Estimated
Amortized Fair Amortized Fair
(in millions) Cost Value Cost Value
Due in one year or less $ 12,730 $ 12,925 $ 66 $ 68
Due after one year through five years 78,800 80,349 430 444
Due after five years through ten years 139,579 141,994 17,516 18,092
Due after ten years 146,054 151,601 3,425 3,550
Total available for sale* $377,163 $386,869 $ 21,437 $ 22,154
* Contractual maturities include mortgage backed securities with an amortized cost and estimated fair value of $48.2 billion and $48.1 billion,
respectively. Such securities have been allocated to the contractual maturities based on estimated future cash flows.
(e) Non-Income Producing Invested Assets: At December 31, 2006, non-income producing invested assets were insignificant.
(f) Gross Unrealized Losses and Estimated Fair Values on Investments:
The following table summarizes the gross unrealized losses and cost basis on securities available for sale, aggregated
by major investment category and length of time that individual securities have been in a continuous unrealized loss
position, at December 31, 2006 and 2005.
Less than 12 Months 12 Months or More Total
Unrealized Unrealized Unrealized
(in millions) Cost(a) Losses Cost(a) Losses Cost(a) Losses
2006
Bonds(b) $ 60,591 $1,197 $82,252 $2,206 $142,843 $3,403
Equity securities 2,734 159 — — 2,734 159
Total $ 63,325 $1,356 $82,252 $2,206 $145,577 $3,562
2005
Bonds(b) $121,631 $2,715 $21,160 $1,009 $142,791 $3,724
Equity securities 3,894 246 97 11 3,991 257
Total $125,525 $2,961 $21,257 $1,020 $146,782 $3,981
(a) For bonds, represents amortized cost.
(b) Primarily relates to the corporate debt categor y.
132 AIG 2006 Form 10-K