AIG 2009 Annual Report Download - page 262

American International Group, Inc., and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
6. Investments
(a) Securities Available for Sale
The following table presents the amortized cost or cost and fair value of AIG’s available for sale securities:
Other-Than-
Amortized Gross Gross Temporary
Cost or Unrealized Unrealized Fair Impairments
(in millions) Cost Gains Losses Value in AOCI(a)
December 31, 2009
Bonds available for sale:
U.S. government and government sponsored entities $ 5,098 $ 174 $ (49) $ 5,223 $ -
Obligations of states, municipalities and political
subdivisions 52,324 2,163 (385) 54,102 -
Non-U.S. governments 63,080 3,153 (649) 65,584 (1)
Corporate debt 185,188 10,826 (3,876)(c) 192,138 119
Mortgage-backed, asset-backed and collateralized:
RMBS 32,173 991 (4,840) 28,324 (2,121)
CMBS 18,717 195 (5,623) 13,289 (739)
CDO/ABS 7,911 284 (1,304) 6,891 (63)
Total bonds available for sale(d) 364,491 17,786 (16,726) 365,551 (2,805)
Equity securities available for sale:
Common stocks 4,460 2,913 (75) 7,298 -
Preferred stocks 740 94 (20) 814 -
Mutual funds 1,264 182 (36) 1,410 -
Total equity securities available for sale 6,464 3,189 (131) 9,522 -
Total $370,955 $20,975 $(16,857) $375,073 $(2,805)
December 31, 2008
Bonds available for sale:
U.S. government and government sponsored entities $ 4,433 $ 331 $ (59) $ 4,705
Obligations of states, municipalities and political
subdivisions 62,718 1,150 (2,611) 61,257
Non-U.S. governments 62,176 6,560 (1,199) 67,537
Corporate debt 194,481 4,661 (13,523)(c) 185,619
Mortgage-backed, asset-backed and collateralized:
RMBS 32,092 645 (2,985) 29,752
CMBS 14,205 126 (3,105) 11,226
CDO/ABS 6,741 233 (843) 6,131
AIGFP(b) 217 - - 217
Total bonds available for sale(d) 377,063 13,706 (24,325) 366,444
Equity securities available for sale:
Common stocks 5,545 1,035 (512) 6,068
Preferred stocks 1,349 33 (138) 1,244
Mutual funds 1,487 78 (69) 1,496
Total equity securities available for sale 8,381 1,146 (719) 8,808
Total $385,444 $14,852 $(25,044) $375,252
(a) Represents the amount of other-than-temporary impairment losses recognized in Accumulated other comprehensive loss, which, starting on April 1,
2009, were not included in earnings. Amount includes unrealized gains and losses on impaired securities relating to changes in the value of such
securities subsequent to the impairment measurement date.
(b) The amounts represent securities for which AIGFP has not elected the fair value option. At December 31, 2009, a total of $329 million in amortized
cost and $375 million in fair value in securities for AIGFP were included in CDO/ABS. Historical amounts were not revised.
AIG 2009 Form 10-K 254