AIG 2012 Annual Report Download - page 222

AMERICAN INTERNATIONAL GROUP, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
Revenues:
Premiums $ 38,990 $ 45,319
Policy fees 2,705 2,710
Net investment income 14,755 20,934
Net realized capital gains (losses):
Total other-than-temporary impairments on available for sale securities (1,216) (1,712)
Portion of other-than-temporary impairments on available for sale fixed maturity securities
recognized in Other comprehensive income (loss) 168 (812)
Net other-than-temporary impairments on available for sale securities recognized in net income (1,048) (2,524)
Other realized capital gains 1,749 1,808
Total net realized capital gains (losses) 701 (716)
Other income 2,661 4,582
Total revenues 59,812 72,829
Benefits, claims and expenses:
Policyholder benefits and claims incurred 33,450 41,392
Interest credited to policyholder account balances 4,467 4,487
Amortization of deferred acquisition costs 5,486 5,821
Other acquisition and insurance expenses 8,458 10,163
Interest expense 2,444 6,742
Net loss on extinguishment of debt 2,847 104
Net (gain) loss on sale of properties and divested businesses 74 (19,566)
Other expenses 2,470 3,439
Total benefits, claims and expenses 59,696 52,582
Income from continuing operations before income taxes 116 20,247
Income tax expense (benefit):
Current 18 580
Deferred (19,442) 6,413
Income taxes expense (benefit) (19,424) 6,993
Income from continuing operations 19,540 13,254
Income (loss) from discontinued operations, net of income taxes 1,790 (969)
Net income 21,330 12,285
Less:
Net income from continuing operations attributable to noncontrolling interests:
Nonvoting, callable, junior and senior preferred interests 634 1,818
Other 54 354
Total net income from continuing operations attributable to noncontrolling interests 688 2,172
Net income from discontinued operations attributable to noncontrolling interests 20 55
Total net income attributable to noncontrolling interests 708 2,227
Net income attributable to AIG $ 20,622 $ 10,058
Net income attributable to AIG common shareholders $ 19,810 $ 2,046
Income per common share attributable to AIG common shareholders:
Basic and diluted:
Income from continuing operations $ 10.03 $ 16.50
Income (loss) from discontinued operations $ 0.98 $ (1.52)
Weighted average shares outstanding:
Basic 1,799,385,757 136,585,844
Diluted 1,799,458,497 136,649,280
See accompanying Notes to Consolidated Financial Statements, which include a summary of revisions to prior year balances in connection with a
change in accounting principle.
..................................................................................................................................................................................................................................
AIG 2012 Form 10-K 205
$ 38,011
2,791
20,343
(448)
(381)
(829)
1,758
929
3,582
65,656
31,977
4,362
5,709
9,235
2,319
9
2
2,721
56,334
9,322
795
775
1,570
7,752
(4,052)
3,700
208
54
262
–
262
$ 3,438
$ 3,438
$ 4.44
$ (2.40)
1,687,197,038
1,687,226,641
Years Ended December 31,
(dollars in millions, except per share data) 2012 2011 2010