AIG 2010 Annual Report Download - page 221

American International Group, Inc., and Subsidiaries
Consolidated Statement of Cash Flows (Continued)
Years Ended December 31,
(in millions) 2010 2009 2008
Cash flows from investing activities:
Proceeds from (payments for)
Sales of available for sale investments $ 56,213 $ 39,969 $ 91,741
Maturities of fixed maturity securities available for sale and hybrid investments 14,657 15,778 14,744
Sales of trading securities 6,313 12,493 22,418
Sales or distributions of other invested assets (including flight equipment) 10,495 10,745 16,354
Sales of divested businesses, net 21,760 5,278 -
Principal payments received on mortgage and other loans receivable 4,276 4,282 4,357
Principal payments received on and sales of finance receivables held for investment 1,134 4,913 5,786
Funding to establish Maiden Lane III LLC -- (5,000)
Purchases of available for sale investments (79,263) (58,859) (94,981)
Purchases of trading securities (3,003) (4,854) (19,717)
Purchases of other invested assets (including flight equipment) (7,850) (10,270) (21,569)
Mortgage and other loans receivable issued (2,509) (2,763) (3,422)
Finance receivables held for investment – originations and purchases (486) (3,520) (6,420)
Net additions to real estate, fixed assets, and other assets (267) (341) (1,023)
Net change in restricted cash (27,115) (250) (2,362)
Net change in short-term investments (5,233) (9,021) (4,421)
Net change in derivative assets and liabilities other than Capital Markets 267 (127) (1,289)
Other, net (332) 2,953 48,205*
Net cash provided by (used in) investing activities – continuing operations (10,943) 6,406 43,401
Net cash provided by (used in) investing activities – discontinued operations 718 (628) 3,775
Net cash provided by (used in) investing activities $(10,225) $ 5,778 $ 47,176
Cash flows from financing activities:
Proceeds from (payments for)
Policyholder contract deposits $ 19,570 $ 21,546 $ 23,713
Policyholder contract withdrawals (14,897) (26,258) (36,875)
Change in commercial paper and other short-term debt 225 (425) (8,912)
Change in Federal Reserve Bank of New York Commercial Paper Funding Facility borrowings (5,855) (10,647) 15,061
Federal Reserve Bank of New York credit facility borrowings 19,900 32,526 96,650
Federal Reserve Bank of New York credit facility repayments (23,178) (26,426) (59,850)
Issuance of other long-term debt 13,046 3,452 107,324
Repayments on other long-term debt (15,976) (19,451) (134,219)
Proceeds from issuance of Series D preferred stock -- 40,000
Drawdown on the Department of the Treasury Commitment 2,199 5,344 -
Issuance of common stock -- 7,343
Payments advanced to purchase shares -- (1,000)
Cash dividends paid to shareholders -- (1,628)
Other, net (579) (671) (72,800)*
Net cash used in financing activities – continuing operations (5,545) (21,010) (25,193)
Net cash used in financing activities – discontinued operations (3,716) (7,987) (15,541)
Net cash used in financing activities $ (9,261) $(28,997) $ (40,734)
Supplementary disclosure of cash flow information:
Cash paid during the period for:
Interest $ (5,166) $ (5,777) $ (7,437)
Taxes $ (1,002) $ (226) $ (617)
Non-cash financing/investing activities:
Noncontrolling nonvoting callable, junior and senior preferred interests held by Federal Reserve Bank
of New York $-$ 25,000 $ -
Consideration received for preferred stock not yet issued $-$ - $ 23,000
Interest credited to policyholder contract deposits included in financing activities $ 9,294 $ 12,615 $ 2,566
Treasury stock acquired using payments advanced to purchase shares $-$ - $ 1,912
Present value of future contract adjustment payments related to issuance of equity units $-$ - $ 431
Long-term debt reduction due to deconsolidations $-$ 775 $ -
Exchange of equity units and extinguishment of junior subordinated debentures $ 3,657 $-$ -
Non-cash consideration received from sale of ALICO $ 9,041 $-$ -
Debt assumed on consolidation of variable interest entities $ 2,591 $-$ -
Debt assumed on acquisition $ 164 $ - $ 153
* Includes $48.5 billion related to change in securities lending invested collateral in investing activities and $72.8 billion related to change in
securities lending payable in financing activities.
See Accompanying Notes to Consolidated Financial Statements.
AIG 2010 Form 10-K 205