AIG 2009 Annual Report Download - page 295

American International Group, Inc., and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
expected assessments. AIG periodically evaluates estimates used and adjusts the additional liability balance, with a
related charge or credit to benefit expense, if actual experience or other evidence suggests that earlier assumptions
should be revised.
AIG contracts currently include GMAV and GMWB benefits. GMAV and GMWB considered to be embedded
derivatives are recognized at fair value through earnings. AIG enters into derivative contracts to economically hedge a
portion of the exposure that arises from GMAV and GMWB.
14. Debt Outstanding
The following table summarizes AIG’s total debt outstanding:
At December 31,
(in millions) 2009 2008
FRBNY Credit Facility (secured) $ 23,435 $ 40,431
Other long-term debt 113,298 137,054
Commercial paper and other short-term debt -613
Federal Reserve Bank of New York commercial paper funding facility 4,739 15,105
Total debt $141,472 $193,203
Historically, AIG has issued long-term debt denominated in various currencies, although predominantly U.S.
dollars, with both fixed and variable interest rates. The following table is a summary of long-term debt carrying values
(including unamortized original issue discount, hedge accounting valuation adjustments and fair value adjustments,
where applicable) by contractual maturity as of December 31, 2009.
287 AIG 2009 Form 10-K