AIG 2008 Annual Report Download - page 250

The following table presents the carrying value and estimated fair value of AIG’s financial instruments
as required by FAS 107:
Carrying
Value(a)
Fair
Value
Carrying
Value(a)
Fair
Value
2008 2007
At December 31,
(In millions)
Assets:
Fixed maturities ................................ $404,134 $404,134 $545,176 $545,752
Equity securities ............................... 21,143 21,143 45,569 45,569
Mortgage and other loans receivable ................. 34,687 35,056 33,727 34,123
Finance receivables, net of allowance ................ 30,949 28,731 31,234 28,693
Other invested assets(b) .......................... 50,381 51,622 57,788 58,633
Securities purchased under agreements to resell ........ 3,960 3,960 20,950 20,950
Short-term investments ........................... 46,666 46,666 51,351 51,351
Cash ........................................ 8,642 8,642 2,284 2,284
Unrealized gain on swaps, options and forward
transactions ................................. 13,773 13,773 14,104 14,104
Trade receivables ............................... 1,901 1,901 672 672
Liabilities:
Policyholder contract deposits associated with
investment-type contracts ....................... 179,478 176,783 211,987 211,698
Securities sold under agreements to repurchase ......... 5,262 5,262 8,331 9,048
Trade payables ................................. 977 977 6,445 6,445
Securities and spot commodities sold but not yet
purchased................................... 2,693 2,693 4,709 4,709
Unrealized loss on swaps, options and forward
transactions ................................. 6,238 6,238 18,031 18,031
Trust deposits and deposits due to banks and other
depositors .................................. 4,498 4,469 4,903 4,986
Commercial paper and extendible commercial notes ..... 613 613 13,114 13,114
Federal Reserve Bank of New York commercial paper
funding facility............................... 15,105 15,105 ——
Federal Reserve Bank of New York credit facility ....... 40,431 40,708 ——
Other long-term debt ............................ 137,054 101,467 162,935 165,064
Securities lending payable ........................ 2,879 2,879 81,965 81,965
(a) The carrying value of all other financial instruments approximates fair value.
(b) Excludes aircraft asset investments held by non-Financial Services subsidiaries.
244 AIG 2008 Form 10-K
American International Group, Inc., and Subsidiaries
Notes to Consolidated Financial Statements — (Continued)