AIG 2008 Annual Report Download - page 255

The amortized cost and fair values of AIG’s available for sale fixed maturity securities, by contractual
maturity were as follows. Actual maturities may differ from contractual maturities because certain bor-
rowers have the right to call or prepay certain obligations with or without call or prepayment penalties.
At December 31, 2008
Amortized
Cost Fair Value
Available for Sale
(In millions)
Due in one year or less ........................................ $ 15,430 $ 15,515
Due after one year through five years.............................. 79,619 77,742
Due after five years through ten years ............................. 98,957 97,064
Due after ten years ........................................... 129,802 128,797
Mortgage-backed, asset-backed and collateralized..................... 53,255 47,326
Total available for sale ........................................ $377,063 $366,444
AIG’s available for sale securities are recorded on the consolidated balance sheet as follows:
2008 2007
Fair Value
At December 31,
(In millions)
Bonds available for sale........................................ $363,042 $437,675
Common and preferred stocks available for sale ...................... 8,808 20,272
Securities lending invested collateral* ............................. 3,402 63,650
Total ...................................................... $375,252 $521,597
* Excludes $442 million and $12.0 billion of short-term investments included in securities lending invested
collateral at December 31, 2008 and 2007, respectively.
(e) Gross Unrealized Losses and Estimated Fair Values on Investments:
The following table summarizes the cost basis and gross unrealized losses on AIG’s available for sale
securities, aggregated by major investment category and length of time that individual securities have been in
a continuous unrealized loss position:
Cost(a)
Unrealized
Losses Cost(a)
Unrealized
Losses Cost(a)
Unrealized
Losses
12 Months or Less More Than 12 Months Total
(In millions)
December 31, 2008
Bonds(b) ................... $142,496 $14,332 $56,312 $9,993 $198,808 $24,325
Equity securities ............. 3,749 719 — — 3,749 719
Total ........................ $146,245 $15,051 $56,312 $9,993 $202,557 $25,044
December 31, 2007
Bonds(b) ................... $190,809 $ 9,935 $65,137 $3,226 $255,946 $13,161
Equity securities ............. 4,433 463 — — 4,433 463
Total ........................ $195,242 $10,398 $65,137 $3,226 $260,379 $13,624
(a) For bonds, represents amortized cost.
(b) Primarily relates to the corporate debt category.
AIG 2008 Form 10-K 249
American International Group, Inc., and Subsidiaries
Notes to Consolidated Financial Statements — (Continued)