AIG 2010 Annual Report Download - page 216

American International Group, Inc., and Subsidiaries
Consolidated Statement of Income (Loss)
Years Ended December 31,
(dollars in millions, except per share data) 2010 2009 2008
Revenues:
Premiums and other considerations $ 48,029 $ 51,239 $ 63,137
Net investment income 20,930 18,987 10,453
Net realized capital losses:
Total other-than-temporary impairments on available for sale securities (1,712) (6,096) (41,409)
Portion of other-than-temporary impairments on available for sale fixed maturity
securities recognized in Accumulated other comprehensive income (812) 316 -
Net other-than-temporary impairments on available for sale securities recognized in
net income (loss) (2,524) (5,780) (41,409)
Other realized capital gains (losses) 2,245 570 (5,385)
Total net realized capital losses (279) (5,210) (46,794)
Unrealized market valuation gains (losses) on Capital Markets super senior credit
default swap portfolio 598 1,418 (28,602)
Other income 8,023 8,918 (5,034)
Total revenues 77,301 75,352 (6,840)
Benefits, claims and expenses:
Policyholder benefits and claims incurred 45,874 50,015 51,036
Policy acquisition and other insurance expenses 15,820 15,864 20,833
Interest expense 7,859 14,238 15,713
Restructuring expenses and related asset impairment and other expenses 574 1,149 771
Net (gain) loss on sale of properties and divested businesses (17,767) 1,271 -
Other expenses 7,005 7,122 7,836
Total benefits, claims and expenses 59,365 89,659 96,189
Income (loss) from continuing operations before income tax expense (benefit) 17,936 (14,307) (103,029)
Income tax expense (benefit):
Current 644 2,802 1,049
Deferred 5,215 (4,291) (10,732)
Total income tax expense (benefit) 5,859 (1,489) (9,683)
Income (loss) from continuing operations 12,077 (12,818) (93,346)
Income (loss) from discontinued operations, net of income tax expense (benefit) (See
Note 4) (2,064) 505 (7,041)
Net income (loss) 10,013 (12,313) (100,387)
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 1,818 140 -
Other 355 (1,576) (984)
Total net income (loss) from continuing operations attributable to noncontrolling interests 2,173 (1,436) (984)
Net income (loss) from discontinued operations attributable to noncontrolling interests 54 72 (114)
Total net income (loss) attributable to noncontrolling interests 2,227 (1,364) (1,098)
Net income (loss) attributable to AIG $ 7,786 $ (10,949) $ (99,289)
Net income (loss) attributable to AIG common shareholders $ 1,583 $ (12,244) $ (99,689)
Income (loss) per common share attributable to AIG:
Basic:
Income (loss) from continuing operations $ 14.75 $ (93.69) $ (704.26)
Income (loss) from discontinued operations $ (3.15) $ 3.21 $ (52.59)
Diluted:
Income (loss) from continuing operations $ 14.75 $ (93.69) $ (704.26)
Income (loss) from discontinued operations $ (3.15) $ 3.21 $ (52.59)
Weighted average shares outstanding:
Basic 136,585,844 135,324,896 131,714,245
Diluted 136,649,280 135,324,896 131,714,245
See Accompanying Notes to Consolidated Financial Statements.
200 AIG 2010 Form 10-K