AIG 2009 Annual Report Download - page 349

American International Group, Inc., and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
American
International
Group, Inc. Other Consolidated
(in millions) (As Guarantor) AIGLH Subsidiaries Eliminations AIG
Expenses:
Accrued and compounding interest 2,116 - - - 2,116
Amortization of prepaid commitment asset 9,279 - - - 9,279
Total Interest expense on FRBNY Credit Facility 11,395 - - - 11,395
Other interest expense 2,393 275 2,944 - 5,612
Restructuring expenses and related asset impairment and
other expenses 189 - 615 - 804
Other expenses 2,706 15 92,892 - 95,613
Total expenses 16,683 290 96,451 - 113,424
Income (loss) from continuing operations before income tax
expense (benefit) (79,655) (17,044) (85,922) 76,093 (106,528)
Income tax expense (benefit)(c) 19,634 (17) (28,511) - (8,894)
Income (loss) from continuing operations (99,289) (17,027) (57,411) 76,093 (97,634)
Income (loss) from discontinued operations - - (2,753) - (2,753)
Net income (loss) (99,289) (17,027) (60,164) 76,093 (100,387)
Less: Net income (loss) attributable to noncontrolling interests
Income (loss) from continuing operations attributable to
noncontrolling interests - - (944) - (944)
Income (loss) from discontinued operations attributable to
noncontrolling interests - - (154) - (154)
Total net income (loss) attributable to noncontrolling interests - - (1,098) - (1,098)
Net loss attributable to AIG $ (99,289) $ (17,027) $ (59,066) $ 76,093 $ (99,289)
Year Ended December 31, 2007
Revenues:
Equity in undistributed net income (loss) of consolidated
subsidiaries(a) $ 3,121 $ (27) $ - $ (3,094) $ -
Dividend income from consolidated subsidiaries(a) 4,694 1,358 - (6,052) -
Other revenue(b) (277) 203 103,706 - 103,632
Total revenues 7,538 1,534 103,706 (9,146) 103,632
Expenses:
Other interest expense 1,341 340 3,070 - 4,751
Other expenses 770 15 89,962 - 90,747
Total expenses 2,111 355 93,032 - 95,498
Income (loss) from continuing operations before income tax
expense (benefit) 5,427 1,179 10,674 (9,146) 8,134
Income tax expense (benefit)(c) (773) 248 1,792 - 1,267
Income (loss) from continuing operations 6,200 931 8,882 (9,146) 6,867
Income (loss) from discontinued operations - - 621 - 621
Net income (loss) 6,200 931 9,503 (9,146) 7,488
Less: Net income (loss) attributable to noncontrolling interests
Income (loss) from continuing operations attributable to
noncontrolling interests - - 1,259 - 1,259
Income (loss) from discontinued operations attributable to
noncontrolling interests - - 29 - 29
Total net income (loss) attributable to noncontrolling interests - - 1,288 - 1,288
Net income (loss) attributable to AIG $ 6,200 $ 931 $ 8,215 $ (9,146) $ 6,200
(a) Eliminated in consolidation.
(b) Includes Interest income of $4.1 billion, $2.7 billion, and $714 million for 2009, 2008, and 2007, respectively, for American International
Group, Inc. (As Guarantor).
(c) Income taxes recorded by the Parent company include deferred tax expense attributable to the potential sale of foreign and domestic businesses and a
valuation allowance to reduce the consolidated deferred tax asset to the amount more likely than not to be realized. See Note 21 herein for additional
information.
341 AIG 2009 Form 10-K