AIG 2009 Annual Report Download - page 348

American International Group, Inc., and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Condensed Consolidating Statement of Income (Loss)
American
International
Group, Inc. Other Consolidated
(in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG
Year Ended December 31, 2009
Revenues:
Equity in undistributed net income (loss) of consolidated
subsidiaries(a) $ (3,479) $ (472) $ - $ 3,951 $ -
Dividend income from consolidated subsidiaries(a) 2,002 169 - (2,171) -
Change in fair value of ML III (1,401) - 1,820 - 419
Other revenue(b) 4,166 199 91,220 - 95,585
Total revenues 1,288 (104) 93,040 1,780 96,004
Expenses:
Accrued and compounding interest 2,022 - - - 2,022
Amortization of prepaid commitment asset 8,359 - - - 8,359
Total Interest expense on FRBNY Credit Facility 10,381 - - - 10,381
Other interest expense 2,496 355 2,137 - 4,988
Restructuring expenses and related asset impairment and
other expenses 407 - 979 - 1,386
Other expense 1,230 - 91,667 - 92,897
Total expenses 14,514 355 94,783 - 109,652
Income (loss) from continuing operations before income tax
expense (benefit) (13,226) (459) (1,743) 1,780 (13,648)
Income tax expense (benefit)(c) (2,277) 15 384 - (1,878)
Income (loss) from continuing operations (10,949) (474) (2,127) 1,780 (11,770)
Income (loss) from discontinued operations - - (543) - (543)
Net income (loss) (10,949) (474) (2,670) 1,780 (12,313)
Less:
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 - - 96 44 140
Other - - (1,527) - (1,527)
Total income (loss) from continuing operations attributable to
noncontrolling interests - - (1,431) 44 (1,387)
Income (loss) from discontinued operations attributable to
noncontrolling interests - - 23 - 23
Total net income (loss) attributable to noncontrolling interests - - (1,408) 44 (1,364)
Net income (loss) attributable to AIG $ (10,949) $ (474) $ (1,262) $ 1,736 $ (10,949)
Year Ended December 31, 2008
Revenues:
Equity in undistributed net income (loss) of consolidated
subsidiaries(a) $ (61,542) $ (17,027) $ - $ 78,569 $ -
Dividend income from consolidated subsidiaries(a) 2,401 75 - (2,476) -
Change in fair value of ML III (900) - - - (900)
Other revenue(b) (2,931) 198 10,529 - 7,796
Total revenues (62,972) (16,754) 10,529 76,093 6,896
AIG 2009 Form 10-K 340