AIG 2009 Annual Report Download - page 346

American International Group, Inc., and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
22. Quarterly Financial Information (Unaudited)
Consolidated Statements of Income (Loss)
Three Months Ended
March 31, June 30, September 30, December 31,
(dollars in millions, except per
share data) 2009 2008 2009 2008 2009 2008 2009 2008
Total revenues $ 18,570 $ 12,255 $ 27,743 $ 18,325 $ 25,329 $34$ 24,362 $ (23,718)
Income (loss) from continuing
operations before income
taxes (6,210) (11,207) 520 (8,687) (356) (27,509) (7,602) (59,125)
Income (loss) from discontinued
operations, net of tax (77) (40) 594 (54) (66) (1,870) (994) (789)
Net income (loss) (5,133) (7,727) 1,845 (5,399) (15) (24,705) (9,010) (62,556)
Net income (loss) from
continuing operations
attributable to noncontrolling
interests:
Noncontrolling nonvoting,
callable, junior and senior
preferred interests held by
Federal Reserve Bank of
New York ------140 -
Other (772) 75 10 (30) (471) (208) (294) (781)
Total income (loss) from
continuing operations
attributable to noncontrolling
interests (772) 75 10 (30) (471) (208) (154) (781)
Net income (loss) attributable
to AIG $ (4,353) $ (7,805) $ 1,822 $ (5,357) $ 455 $ (24,468) $ (8,873) $ (61,659)
Earnings (loss) per common
share:
Basic
Income (loss) from
continuing operations $ (39.16) $ (61.41) $ 1.44 $ (40.81) $ 0.78 $ (167.40) $ (58.05) $ (454.01)
Income (loss) from
discontinued operations $ (0.51) $ (0.34) $ 0.86 $ (0.32) $ (0.10) $ (13.62) $ (7.46) $ (4.98)
Diluted
Income (loss) from
continuing operations $ (39.16) $ (61.41) $ 1.44 $ (40.81) $ 0.77 $ (167.40) $ (58.05) $ (454.01)
Income (loss) from
discontinued operations $ (0.51) $ (0.34) $ 0.86 $ (0.32) $ (0.09) $ (13.62) $ (7.46) $ (4.98)
Weighted average shares
outstanding:
Basic 135,252,869 126,400,579 135,281,740 130,248,736 135,293,841 135,169,101 135,446,727 135,207,631
Diluted 135,252,869 126,400,579 135,336,440 130,248,736 135,456,372 135,169,101 135,446,727 135,207,631
Noteworthy quarterly items
income (expense):
Credit valuation adjustment $ 1,787 $28$ (37) $ (474) $ (645) $ (987) $ 393 $ (7,829)
Other-than-temporary
impairments (3,929) (5,317) (974) (6,508) (1,746) (19,226) (1,130) (17,598)
Net gain (loss) on sale of
divested businesses 250 -(566) -(885) -(70) -
Adjustment to deferred tax
valuation allowance (1,633) -1,829 -(430) (3,329) (2,682) (17,344)
Accelerated amortization of
prepaid commitment asset ——————(5,185) (6,576)
Out of period adjustments
As discussed in Note 1, AIG recorded out of period adjustments affecting previously reported 2009 quarterly
results.
23. Information Provided in Connection With Outstanding Debt
The following condensed consolidating financial statements reflect the results of AIG Life Holdings (US), Inc.
(AIGLH), formerly known as American General Corporation, a holding company and a wholly owned subsidiary of
AIG. AIG provides a full and unconditional guarantee of all outstanding debt of AIGLH.
AIG 2009 Form 10-K 338