AIG 2008 Annual Report Download - page 202

2008 2007 2006 2008 2007 2006
Amounts Shares
Years Ended December 31,
(In millions, except share and per share data)
Foreign currency translation adjustments, net of
tax:
Balance, beginning of year . ............. 880 (305) (1,241)
Translation adjustment . . ............. (1,423) 1,325 1,283
Income tax benefit (expense) . . . ........ 356 (140) (347)
Balance, end of year .................. (187) 880 (305)
Net derivative gains (losses) arising from cash
flow hedging activities, net of tax:
Balance, beginning of year . ............. (87) (27) (25)
Net deferred gains (losses) on cash flow
hedges, net of reclassification
adjustments . . . .................. (156) (133) 13
Income tax benefit (expense) . . . ........ 52 73 (15)
Balance, end of year .................. (191) (87) (27)
Retirement plan liabilities adjustment, net of
tax:
Balance, beginning of year . ............. (525) (641) (115)
Net gain (loss) . . .................. (1,313) 197 —
Prior service credit ................. (12) (24) —
Minimum pension liability adjustment . . . . . ——80
Income tax benefit (expense) . . . ........ 352 (57) (74)
Adjustment to initially apply FAS 158, net of
tax .......................... —— (532)
Balance, end of year .................. (1,498) (525) (641)
Accumulated other comprehensive income
(loss), end of year .................. (6,328) 4,643 9,110
Treasury stock, at cost:
Balance, beginning of year . ............. (6,685) (1,897) (2,197) (221,743,421) (150,131,273) (154,680,704)
Shares purchased . .................. (1,912) (5,104) (20) (37,931,370) (76,519,859) (288,365)
Shares issued under stock plans . ........ 146 305 291 1,290,431 4,958,345 4,579,913
Other . . . ....................... 111 29 15,436 (50,634) 257,883
Balance, end of year .................. (8,450) (6,685) (1,897) (258,368,924) (221,743,421) (150,131,273)
Total shareholders’ equity, end of year ...... $ 52,710 $95,801 $101,677
See Accompanying Notes to Consolidated Financial Statements.
196 AIG 2008 Form 10-K
American International Group, Inc., and Subsidiaries
Consolidated Statement of Shareholders’ Equity — (Continued)