AIG 2012 Annual Report Download - page 235

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The following table presents amounts previously reported as of December 31, 2011, to reflect the effect of the
change due to the retrospective adoption of the standard, and the adjusted amounts that are reflected in our
Consolidated Balance Sheet.
Balance Sheet:
Deferred income taxes $ 17,897 $ 1,718 $ 19,615
Deferred policy acquisition costs 14,026 (5,089) 8,937
Other assets 11,705 (42) 11,663
Total assets 556,467 (3,413) 553,054
Retained earnings 14,332 (3,558) 10,774
Accumulated other comprehensive income 6,336 145 6,481
Total AIG shareholders’ equity 104,951 (3,413) 101,538
The following tables present amounts previously reported for the years ended December 31, 2011 and 2010
to reflect the effect of the change due to the retrospective adoption of the standard, and the adjusted
amounts that are reflected in our Consolidated Statement of Operations and Consolidated Statement of Cash
Flows.
Statement of Operations:
Total net realized capital gains $ 681 $ 20 $ 701
Total revenues 59,792 20 59,812
Interest credited to policyholder account balances 4,446 21 4,467
Amortization of deferred acquisition costs 8,019 (2,533) 5,486
Other acquisition and other insurance expenses 6,091 2,367 8,458
Net (gain) loss on sale of properties and divested businesses 74 – 74
Total benefits, claims and expenses 59,840 (144) 59,696
Income (loss) from continuing operations before income tax benefit (48) 164 116
Income tax benefit(b) (17,696) (1,728) (19,424)
Income from continuing operations 17,648 1,892 19,540
Income from discontinued operations, net of income tax expense(c) 858 932 1,790
Net income 18,506 2,824 21,330
Net income attributable to AIG 17,798 2,824 20,622
Net income attributable to AIG common shareholders 16,986 2,824 19,810
Income per share attributable to AIG common shareholders:
Basic and diluted
Income from continuing operations $ 8.98 $ 1.05 $ 10.03
Income from discontinued operations $ 0.46 $ 0.52 $ 0.98
(a) Includes $140 million in Total net realized capital gains attributable to the effect of the reclassification of certain derivative activity discussed in
Note 1 herein. Also includes the effect of the reclassification of ILFC as discontinued operations.
(b) Includes an adjustment to the deferred tax valuation allowance of $1.8 billion in the fourth quarter of 2011.
(c) Represents the effect on the gain on sale of AIG Star and AIG Edison which were sold in first quarter of 2011.
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AIG 2012 Form 10-K218
December 31, 2011 As Previously Effect of As Currently
(in millions) Reported Change Reported
Year Ended December 31, 2011 As Previously Effect of As Currently
(dollars in millions, except per share data) Reported(a) Change Reported
ITEM 8 / NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES