AIG 2006 Annual Report Download - page 208

American International Group, Inc. and Subsidiaries
Notes to Consolidated Financial Statements Continued
15. Employee Benefits
Continued
The following table sets forth the effect of FAS 158 on the consolidated balance sheet at December 31, 2006:
Including
Effect of Effect of
Pre-adoption Adoption of Adoption of
(in millions) of FAS 158 FAS 158 FAS 158
Prepaid assets (pensions) $ 550 $(532) $ 18
Intangible assets (pensions) 6(6)—
Total assets 979,952 (538) 979,414
Liability for pension benefits(a) 1,140 230 1,370
Net deferred tax liability 9,088 (236) 8,852
Total liabilities 877,552 (6) 877,546
Accumulated other comprehensive income, net of tax 9,642 (532) 9,110
Total liabilities, preferred shareholders’ equity in subsidiary companies and
shareholders’ equity $979,952 $(538) $979,414
(a) Included in Other liabilities in the consolidated balance sheet.
Defined benefit pension plan obligations where the projected benefit obligation was in excess of the related plan
assets at December 31, 2006 and 2005 were as follows:
2006* 2005
Non-U.S. U.S. Non-U.S. U.S.
(in millions) Plans Plans Plans Plans
Projected benefit obligation $1,486 $3,079 $1,284 $3,130
Accumulated benefit obligation 1,323 2,689 1,163 2,704
Fair value of plan assets 740 2,760 610 2,561
* At November 30, 2006 for non-U.S. plans of sponsoring companies with fiscal year-end date of November 30, 2006.
Defined benefit pension plan obligations where the accumulated benefit obligation was in excess of the related plan
assets at December 31, 2006 and 2005 were as follows:
2006* 2005
Non-U.S. U.S. Non-U.S. U.S.
(in millions) Plans Plans Plans Plans
Projected benefit obligation $1,465 $240 $1,281 $268
Accumulated benefit obligation 1,311 204 1,161 224
Fair value of plan assets 723 11 607 9
* At November 30, 2006 for non-U.S. plans of sponsoring companies with fiscal year-end date of November 30, 2006.
158 AIG 2006 Form 10-K