AIG 2007 Annual Report Download - page 185

American International Group, Inc. and Subsidiaries
Consolidated Balance Sheet Continued
December 31,
(in millions, except share data) 2007 2006
Liabilities:
Reserve for losses and loss expenses $ 85,500 $ 79,999
Unearned premiums 28,022 26,271
Future policy benefits for life and accident and health insurance contracts 136,068 121,004
Policyholders’ contract deposits 258,459 248,264
Other policyholders’ funds 12,599 10,986
Commissions, expenses and taxes payable 6,310 5,305
Insurance balances payable 4,878 3,789
Funds held by companies under reinsurance treaties 2,501 2,602
Income taxes payable 3,823 9,546
Financial services liabilities:
Securities sold under agreements to repurchase, at contract value 8,331 19,677
Trade payables 10,568 6,174
Securities and spot commodities sold but not yet purchased, at fair value 4,709 4,076
Unrealized loss on swaps, options and forward transactions 20,613 11,401
Trust deposits and deposits due to banks and other depositors 4,903 5,249
Commercial paper and extendible commercial notes 13,114 13,363
Long-term borrowings 162,935 135,316
Separate and variable accounts 78,684 70,277
Securities lending payable 81,965 70,198
Minority interest 10,422 7,778
Other liabilities (includes hybrid financial instruments at fair value: 2007 — $47; 2006 — $111) 30,200 26,267
Total liabilities 964,604 877,542
Preferred shareholders’ equity in subsidiary companies 100 191
Commitments, Contingencies and Guarantees (See Note 12)
Shareholders’ equity:
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued 2007 and 2006 —
2,751,327,476 6,878 6,878
Additional paid-in capital 2,848 2,590
Payments advanced to purchase shares (912) —
Retained earnings 89,029 84,996
Accumulated other comprehensive income (loss) 4,643 9,110
Treasury stock, at cost; 2007 — 221,743,421; 2006 — 150,131,273 shares of common stock
(including 119,293,487 and 119,278,644 shares, respectively, held by subsidiaries) (6,685) (1,897)
Total shareholders’ equity 95,801 101,677
Total liabilities, preferred shareholders’ equity in subsidiary companies and shareholders’ equity $1,060,505 $979,410
See Accompanying Notes to Consolidated Financial Statements.
AIG 2007 Form 10-K 131