AIG 2006 Annual Report Download - page 224

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American International Group, Inc. and Subsidiaries
Notes to Consolidated Financial Statements Continued
22. Information Provided in Connection With Outstanding Debt
Continued
Condensed Consolidating Statement of Income
American
International AIG
Group, Inc. Liquidity Other Consolidated
(in millions) Guarantor Corp. Subsidiaries Eliminations AIG
Year Ended December 31, 2006
Operating Income $ (786) $ * $22,473 $ — $21,687
Equity in undistributed net income of consolidated subsidiaries 13,308 — 1,263 (14,571) —
Dividend income from consolidated subsidiaries 1,689 — 602 (2,291) —
Income taxes (benefits) 197 * 6,340 — 6,537
Minority interest — — (1,136) — (1,136)
Cumulative effect of an accounting change 34 * — — 34
Net income (loss) $14,048 $ * $16,862 $(16,862) $14,048
Year Ended December 31, 2005
Operating Income $ (1,569) $ * $16,782 $ — $15,213
Equity in undistributed net income of consolidated subsidiaries 10,156 — 2,530 (12,686) —
Dividend income from consolidated subsidiaries 1,958 * — (1,958) —
Income taxes (benefits) 68 — 4,190 — 4,258
Minority interest — — (478) — (478)
Net income (loss) $10,477 $ * $14,644 $(14,644) $10,477
Year Ended December 31, 2004
Operating Income $ 161 $ * $14,684 $ — $14,845
Equity in undistributed net income of consolidated subsidiaries 8,602 — 2,048 (10,650) —
Dividend income from consolidated subsidiaries 1,939 — 65 (2,004) —
Income taxes (benefits) 863 * 3,544 — 4,407
Minority interest — — (455) — (455)
Cumulative effect of an accounting change — — (144) — (144)
Net income (loss) $ 9,839 $ * $12,654 $(12,654) $ 9,839
* Amounts significantly less than $1 million.
174 AIG 2006 Form 10-K