AIG 2010 Annual Report Download - page 342

American International Group, Inc., and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
April 2009, established a schedule for class action discovery that was to lead to a hearing on class certification in
March 2010. The Court has since appointed a special master to oversee class action discovery and has directed the
parties to submit a new discovery schedule after certain discovery disputes are resolved. Class discovery is ongoing,
and no schedule for the class certification hearing has been set.
As of February 16, 2011, the parties have not completed class action discovery, general discovery has not
commenced, and the court has not determined if a class action is appropriate or the size or scope of any class. As
a result, AIG is unable to reasonably estimate the possible loss or range of losses, if any, arising from the
litigation.
(b) Commitments
Flight Equipment
At December 31, 2010, ILFC had committed to purchase 115 new aircraft deliverable from 2011 through 2019,
at an estimated aggregate purchase price of approximately $13.5 billion. ILFC will be required to find lessees for
any aircraft acquired and to arrange financing for a substantial portion of the purchase price.
Included in the 115 new aircraft are 74 Boeing 787 aircraft (B787s), with the first aircraft currently scheduled to
be delivered in July 2012. ILFC is in discussions with Boeing related to revisions to the delivery schedule and
potential delay compensation and penalties for which ILFC may be eligible. ILFC has signed contracts with
customers for 37 of the 74 B787s on order. Under the terms of ILFC’s B787 leases, the lessees may be entitled to
share in certain compensation that ILFC receives from Boeing for late delivery of the aircraft.
The following table presents the minimum future rental income on noncancelable operating leases of flight
equipment that has been delivered:
At December 31, 2010
(in millions)
2011 $ 4,171
2012 3,590
2013 2,931
2014 2,247
2015 1,647
Remaining years after 2015 2,518
Total $17,104
Flight equipment is leased under operating leases with remaining terms ranging from one to eleven years.
Lease Commitments
AIG and its subsidiaries occupy leased space in many locations under various long-term leases and have entered
into various leases covering the long-term use of data processing equipment.
326 AIG 2010 Form 10-K