AIG 2008 Annual Report Download - page 51

Borrowings outstanding and remaining available amount that can be borrowed under the Fed Facility
were as follows:
Inception through
December 31,
2008
Inception through
February 18,
2009(c)
(In millions)
Borrowings:
Loans to AIGFP for collateral postings, GIA and other debt
maturities ..................................... $ 46,997 $ 47,547
Capital contributions to insurance companies(a) ........... 20,850 20,850
Repayment of obligations to securities lending program . .... 3,160 3,160
Repayment of intercompany loans ..................... 1,528 1,528
Contributions to AIGCFG subsidiaries .................. 1,672 1,686
Debt repayments .................................. 2,109 2,319
Funding of equity interest in ML III.................... 5,000 5,000
Repayment from the proceeds of the issuance of Series D
Preferred Stock and common stock warrant ............ (40,000) (40,000)
Other(a)(b) ...................................... (4,516) (6,890)
Net borrowings ..................................... 36,800 35,200
Total Fed Facility ................................... 60,000 60,000
Remaining available amount ........................... $ 23,200 $ 24,800
Net borrowings ..................................... $ 36,800 $ 35,200
Accrued compounding interest and fees ................... 3,631 3,631
Total balance outstanding ............................. $ 40,431 $ 38,831
(a) Includes securities lending activities.
(b) Includes repayments from funds received from the Fed Securities Lending Agreement and the CPFF.
(c) At February 25, 2009, $36 billion was outstanding under the Fed Facility.
AIG’s Strategy for Stabilization and Repayment of AIG’s Obligations as They Come Due
Future Cash Requirements
The following table shows the maturing debt of AIG and its subsidiaries for each quarter of 2009:
First
Quarter
2009
Second
Quarter
2009
Third
Quarter
2009
Fourth
Quarter
2009 Total
(In millions)
AIG ................................. $ 418 $ — $ — $1,000 $ 1,418
AIGMIP.............................. — 1,156 — — 1,156
AIGFP ............................... 1,421 765 2,132 1,125 5,443
ILFC. ................................ 917 1,097 1,151 2,986 6,151
AGF................................. 835 931 3,209 1,661 6,636
Other subsidiaries ....................... 312 227 114 124 777
Total . ................................ $3,903 $4,176 $6,606 $6,896 $21,581
In addition, at February 18, 2009, AIG affiliates had issued $14 billion in commercial paper to the CPFF with
the majority of maturities in April of 2009. If AIG’s short-term ratings are downgraded, AIG Funding may lose
access to the CPFF and would be required to find other sources to fund the maturing commercial paper.
AIG 2008 Form 10-K 45
American International Group, Inc., and Subsidiaries