AIG 2008 Annual Report Download - page 196

In December 2007, the FASB issued FAS No. 160, “Noncontrolling Interests in Consolidated Financial
Statements, an amendment of ARB No. 51.”
In February 2008, the FASB issued FSP No. FAS 140-3, “Accounting for Transfers of Financial Assets and
Repurchase Financing Transactions.”
In March 2008, the FASB issued FAS 161, “Disclosures about Derivative Instruments and Hedging
Activities — an amendment of FASB Statement No. 133.”
In May 2008, the FASB issued FAS 162, “The Hierarchy of Generally Accepted Accounting Principles.”
In June 2008, the FASB ratified the consensus reached by the EITF on Issue No. 07-5, “Determining Whether
an Instrument (or Embedded Feature) is Indexed to an Entity’s Own Stock.”
In September 2008, the FASB issued FASB Staff Position No. FAS 133-1 and FIN 45-4, “Disclosures about
Credit Derivatives and Certain Guarantees: An amendment of FASB Statement No. 133 and FASB Interpretation
No. 45.”
In December 2008, the FASB issued FSP FAS 132(R)-1, “Employer’s Disclosures about Postretirement
Benefit Plan Assets.”
For further discussion of these recent accounting standards and their application to AIG, see Note 1(hh) to the
Consolidated Financial Statements.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
Included in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Item 8. Financial Statements and Supplementary Data
American International Group, Inc. and Subsidiaries Index to Financial Statements and Schedules
Page
Report of Independent Registered Public Accounting Firm. . ................................. 191
Consolidated Balance Sheet at December 31, 2008 and 2007 ................................. 192
Consolidated Statement of Income (Loss) for the years ended December 31, 2008, 2007 and 2006 ..... 194
Consolidated Statement of Shareholders’ Equity for the years ended December 31, 2008, 2007
and 2006 ....................................................................... 195
Consolidated Statement of Cash Flows for the years ended December 31, 2008, 2007 and 2006 ....... 197
Consolidated Statement of Comprehensive Income (Loss) for the years ended December 31, 2008, 2007
and 2006 ....................................................................... 199
Notes to Consolidated Financial Statements .............................................. 200
Schedules:*
I – Summary of Investments – Other Than Investments in Related Parties at December 31, 2008 .......
II – Condensed Financial Information of Registrant at December 31, 2008 and 2007 and for the years
ended December 31, 2008, 2007 and 2006 ..............................................
III – Supplementary Insurance Information at December 31, 2008, 2007 and 2006 and for the years
then ended ......................................................................
IV – Reinsurance at December 31, 2008, 2007 and 2006 and for the years then ended ..............
V – Valuation and Qualifying Accounts at December 31, 2008, 2007 and 2006 and for the years
then ended ......................................................................
190 AIG 2008 Form 10-K
American International Group, Inc., and Subsidiaries
* Schedules listed were included in the Form 10-K filed with the Securities and Exchange Commission but have not
been included herein. Copies may be obtained electronically through AIG’s website at www.aigcorporate.com or
from the Director of Investor Relations, American International Group, Inc.