AIG 2006 Annual Report Download - page 185

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American International Group, Inc. and Subsidiaries
8. Investment Information
Continued
(k) Finance Receivables:
Finance receivables, net of unearned finance charges, were as follows:
Years Ended December 31,
(in millions) 2006 2005
Real estate loans $20,321 $20,407
Non-real estate loans 4,506 3,831
Retail sales finance 3,092 2,522
Credit card loans 1,413 1,498
Other loans 978 407
Total finance receivables 30,310 28,665
Allowance for losses (737) (670)
Finance receivables, net $29,573 $27,995
9. Debt Outstanding
At December 31, 2006, AIG’s net borrowings were $17.13 billion after reflecting amounts not guaranteed by AIG,
amounts that were matched borrowings by AIG and AIGFP and liabilities connected to trust preferred stock. The
following table summarizes borrowings outstanding at December 31, 2006 and 2005:
(in millions) 2006 2005
AIG’s net borrowings $ 17,126 $ 10,425
Liabilities connected to trust preferred stock 1,440 1,391
AIG Matched Investment Program
matched notes and bonds payable 5,468 —
Series AIGFP matched notes and bonds payable 72 —
AIGFP:
GIAs 20,664 20,811
Matched notes and bonds payable 35,776 24,950
Hybrid financial instrument liabilities(a) 8,856 —
Borrowings not guaranteed by AIG(b) 59,277 52,272
Total debt(c) $148,679 $109,849
(a) Represents structured notes issued by AIGFP that are accounted for under the fair value option.
(b) Includes commercial paper not guaranteed by AIG.
(c) Total debt in 2006 includes commercial paper of $12.15 billion and $3.25 billion of debt related to VIEs required to be consolidated under the
provisions of FIN 46R.
Form 10-K 2006 AIG 135