AIG 2010 Annual Report Download - page 384

American International Group, Inc., and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
American
International Reclassifications
Group, Inc. Other and Consolidated
(in millions) (As Guarantor) SAFG, Inc. Subsidiaries Eliminations AIG
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 (3,207) - (5,940)
Total revenues (62,972) (16,754) (3,207) 76,093 (6,840)
Expenses:
Accrued and compounding interest 2,116 - - (26) 2,090
Amortization of prepaid commitment asset 9,279 - - (29) 9,250
Total interest expense on FRBNY Credit Facility 11,395 - - (55) 11,340
Other interest expense 2,393 275 1,705 - 4,373
Restructuring expenses and related asset impairment and
other expenses 189 - 582 - 771
Other expenses 2,706 15 76,984 - 79,705
Total expenses 16,683 290 79,271 (55) 96,189
Income (loss) from continuing operations before income tax
expense (benefit) (79,655) (17,044) (82,478) 76,148 (103,029)
Income tax expense (benefit)(c) 19,634 (17) (29,300) - (9,683)
Income (loss) from continuing operations (99,289) (17,027) (53,178) 76,148 (93,346)
Loss from discontinued operations - - (6,986) (55) (7,041)
Net income (loss) (99,289) (17,027) (60,164) 76,093 (100,387)
Less:
Net loss attributable to noncontrolling interests:
Loss from continuing operations attributable to
noncontrolling interests - - (984) - (984)
Loss from discontinued operations attributable to
noncontrolling interests - - (114) - (114)
Total net loss attributable to noncontrolling interests - - (1,098) - (1,098)
Net income (loss) attributable to AIG $ (99,289) $ (17,027) $ (59,066) $ 76,093 $ (99,289)
(a) Eliminated in consolidation.
(b) Includes Interest income of $3.2 billion, $4.1 billion, and $2.7 billion for 2010, 2009, and 2008, respectively, for American International
Group, Inc. (As Guarantor).
(c) Income taxes recorded by American International Group, Inc. (As Guarantor) include deferred tax expense attributable to the pending sales of
foreign businesses and a valuation allowance to reduce the consolidated deferred tax asset to the amount more likely than not to be realized.
See Note 22 herein for additional information.
368 AIG 2010 Form 10-K