AIG 2012 Annual Report Download - page 65

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The Selected Consolidated Financial Data should be read in conjunction with Management’s Discussion and
Analysis of Financial Condition and Results of Operations and the Consolidated Financial Statements and
accompanying notes included elsewhere herein.
Revenues:
Premiums $ 38,990 $ 45,319 $ 48,583 $ 60,147
Policy fees 2,705 2,710 2,656 2,990
Net investment income 14,755 20,934 18,992 10,453
Net realized capital gains (losses) 701 (716) (3,787) (50,426)
Other income 2,661 4,582 3,729 (34,941)
Total revenues 59,812 72,829 70,173 (11,777)
Benefits, claims and expenses:
Policyholder benefits and claims incurred 33,450 41,392 45,314 45,447
Interest credited to policyholder account balances 4,467 4,487 4,611 5,582
Amortization of deferred acquisition costs 5,486 5,821 6,670 6,425
Other acquisition and insurance expenses 8,458 10,163 9,815 14,783
Interest expense 2,444 6,742 13,237 14,440
Net loss on extinguishment of debt 2,847 104 – –
Net (gain) loss on sale of properties and divested businesses 74 (19,566) 1,271 –
Other expenses 2,470 3,439 5,282 5,842
Total benefits, claims and expenses 59,696 52,582 86,200 92,519
Income (loss) from continuing operations before income taxes(b) 116 20,247 (16,027) (104,296)
Income taxes expense (benefit) (19,424) 6,993 (2,551) (8,097)
Income (loss) from continuing operations 19,540 13,254 (13,476) (96,199)
Income (loss) from discontinued operations, net of taxes 1,790 (969) 3,750 (6,683)
Net income (loss) 21,330 12,285 (9,726) (102,882)
Net income (loss) attributable to AIG 20,622 10,058 (8,362) (101,784)
Income (loss) per common share attributable to AIG common
shareholders
Basic and diluted
Income (loss) from continuing operations 10.03 16.50 (98.52) (725.89)
Income (loss) from discontinued operations 0.98 (1.52) 27.15 (49.91)
Net income (loss) attributable to AIG 11.01 14.98 (71.37) (775.80)
Dividends declared per common share – – – 8.40
Year-end balance sheet data:
Total investments 410,438 410,412 601,165 636,912
Total assets 553,054 675,573 838,346 848,552
Long-term debt 75,253 106,461 136,733 177,485
Total liabilities 442,138 568,363 748,550 797,692
Total AIG shareholders’ equity 101,538 78,856 60,585 40,844
Total equity 102,393 106,776 88,837 48,939
Book value per share(a) 53.53 561.40 448.54 303.71
Book value per share, excluding Accumulated other
comprehensive income (loss)(a)(c) 50.11 498.25 400.90 353.97
AIG Property Casualty combined ratio(d) 108.8 116.8 108.4 102.1
Other data (from continuing operations):
Other-than-temporary impairments 1,280 3,039 6,696 41,867
Adjustment to federal and foreign deferred tax valuation
allowance (18,307) 1,361 2,986 22,172
Amortization of prepaid commitment fee 49 3,471 8,359 9,279
Catastrophe-related losses $ 3,307 $ 1,076 $ 53 $ 1,840
(a) Comparability between 2010 and 2009 data is affected by the deconsolidation of AIA in the fourth quarter of 2010. Book value per share,
excluding Accumulated other comprehensive income (loss) is a non-GAAP measure. See Item 7. MD&A – Use of Non-GAAP Measures for
additional information. Comparability of 2010, 2009 and 2008 is affected by a one for twenty reverse stock split.
(b) Reduced by fourth quarter reserve strengthening charges of $4.2 billion and $2.2 billion in 2010 and 2009, respectively, related to the annual
review of AIG Property Casualty loss and loss adjustment reserves.
(c) Amounts for periods after December 31, 2008 have been revised to reflect reclassification of income taxes from AOCI to additional paid in
capital to correct the presentation of components of AIG Shareholders’ Equity. See Note 1 to the Consolidated Financial Statements for additional
information on the reclass.
(d) See Item 7. MD&A – Results of Operations – AIG Property Casualty Operations for a reconciliation of the adjusted combined ratio.
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AIG 2012 Form 10-K48
ITEM 6 / SELECTED FINANCIAL DATA
Years Ended December 31,
(in millions, except per share data) 2012 2011 2010(a) 2009(a) 2008
$ 38,011
2,791
20,343
929
3,582
65,656
31,977
4,362
5,709
9,235
2,319
9
2
2,721
56,334
9,322
1,570
7,752
(4,052)
3,700
3,438
4.44
(2.40)
2.04
–
375,824
548,633
48,500
449,630
98,002
98,669
66.38
57.87
108.6
1,167
(1,907)
–
$ 2,652
ITEM 6 / SELECTED FINANCIAL DATA