AIG 2012 Annual Report Download - page 258

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Assets:
Bonds available for sale:
U.S. government and government sponsored entities $ 174 $ 5,904 $ – $ – $ – $ 6,078
Obligations of states, municipalities and political subdivisions – 36,538 960 – – 37,498
Non-U.S. governments 259 25,467 9 – – 25,735
Corporate debt – 142,883 1,935 – – 144,818
RMBS – 23,727 10,877 – – 34,604
CMBS – 3,991 3,955 – – 7,946
CDO/ABS – 3,082 4,220 – – 7,302
Total bonds available for sale 433 241,592 21,956 – – 263,981
Bond trading securities:
U.S. government and government sponsored entities 100 6,362 – – – 6,462
Obligations of states, municipalities and political subdivisions – 257 – – – 257
Non-U.S. governments – 35 – – – 35
Corporate debt – 809 7 – – 816
RMBS – 1,345 303 – – 1,648
CMBS – 1,283 554 – – 1,837
CDO/ABS – 4,877 8,432 – – 13,309
Total bond trading securities 100 14,968 9,296 – – 24,364
Equity securities available for sale:
Common stock 3,294 70 57 – – 3,421
Preferred stock – 44 99 – – 143
Mutual funds 55 5 – – – 60
Total equity securities available for sale 3,349 119 156 – – 3,624
Equity securities trading 43 82 – – – 125
Mortgage and other loans receivable – 106 1 – – 107
Other invested assets(c) 12,549 1,709 6,618 – – 20,876
Derivative assets:
Interest rate contracts 2 7,251 1,033 – – 8,286
Foreign exchange contracts – 143 2 – – 145
Equity contracts 92 133 38 – – 263
Commodity contracts – 134 2 – – 136
Credit contracts – – 89 – – 89
Other contracts 29 462 250 – – 741
Counterparty netting and cash collateral – – – (3,660) (1,501) (5,161)
Total derivative assets 123 8,123 1,414 (3,660) (1,501) 4,499
Short-term investments 2,309 3,604 – – – 5,913
Separate account assets 48,502 2,886 – – – 51,388
Total $ 67,408 $ 273,189 $ 39,441 $ (3,660) $ (1,501) $ 374,877
Liabilities:
Policyholder contract deposits $ – $ – $ 918 $ – $ – $ 918
Derivative liabilities:
Interest rate contracts – 6,661 248 – – 6,909
Foreign exchange contracts – 178 – – – 178
Equity contracts – 198 10 – – 208
Commodity contracts – 146 – – – 146
Credit contracts(d) – 4 3,362 – – 3,366
Other contracts – 155 217 – – 372
Counterparty netting and cash collateral – – – (3,660) (2,786) (6,446)
Total derivative liabilities – 7,342 3,837 (3,660) (2,786) 4,733
Long-term debt(e) – 10,258 508 – – 10,766
Other liabilities 193 714 – – – 907
Total $ 193 $ 18,314 $ 5,263 $ (3,660) $ (2,786) $ 17,324
(a) Represents netting of derivative exposures covered by a qualifying master netting agreement.
(b) Represents cash collateral posted and received. Securities collateral posted for derivative transactions that is reflected in Fixed maturity
securities in the Consolidated Balance Sheet, and collateral received, not reflected in the Consolidated Balance Sheet, were $1.9 billion and
$299 million, respectively, at December 31, 2012 and $1.8 billion and $100 million, respectively, at December 31, 2011.
(c) Level 1 Other invested assets included $12.4 billion at December 31, 2011 of AIA ordinary shares publicly traded on the Hong Kong Stock
Exchange.
(d) Level 3 Credit contracts included the fair value derivative liability on the super senior credit default swap portfolio of $2.0 billion and $3.2 billion
at December 31, 2012 and 2011, respectively.
(e) Includes Guaranteed Investment Agreements (GIAs), notes, bonds, loans and mortgages payable.
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AIG 2012 Form 10-K 241
December 31, 2011 Counterparty Cash
(in millions) Level 1 Level 2 Level 3 Netting(a) Collateral(b) Total
ITEM 8 / NOTE 6. FAIR VALUE MEASUREMENTS