AIG 2012 Annual Report Download - page 66

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Changes In Accounting For Acquisition Costs
Reflects changes from the adoption of the new accounting standard related to deferred acquisition costs for 2009
and 2008, as set out in further detail below. See Note 2 to the Consolidated Financial Statements for a description of
the effect of the adoption of the new accounting standards on 2011 and 2010 periods, which is also reflected in the
data presented above.
Income (loss) from continuing operations $ (13,907) $ 431 $ (13,476)
Income (loss) from discontinued operations, net of income tax(b) 1,594 2,156 3,750
Net income (loss) (12,313) 2,587 (9,726)
Net income (loss) attributable to AIG $ (10,949) $ 2,587 $ (8,362)
Net income (loss) attributable to AIG common shareholders $ (12,244) $ 2,587 $ (9,657)
Income (loss) per share attributable to AIG common shareholders:
Basic and diluted:
Income (loss) from continuing operations $ (100.70) $ 3.18 $ (98.52)
Income from discontinued operations $ 11.22 $ 15.93 $ 27.15
Income (loss) attributable to AIG $ (90.48) $ 19.11 $ (71.37)
December 31, 2009 balance sheet data:
Total assets $ 847,585 $ (9,239) $ 838,346
Total liabilities 748,550 – 748,550
Total AIG shareholders’ equity 69,824 (9,239) 60,585
Total equity 98,076 (9,239) 88,837
Other data (from continuing operations):
Adjustment to federal and foreign deferred tax valuation allowance $ 3,137 $ (151) $ 2,986
Loss from continuing operations $ (94,022) $ (2,177) $ (96,199)
Loss from discontinued operations, net of tax (6,365) (318) (6,683)
Net loss (100,387) (2,495) (102,882)
Net loss attributable to AIG $ (99,289) $ (2,495) $ (101,784)
Net loss attributable to AIG common shareholders $ (99,689) $ (2,495) $ (102,184)
Loss per common share attributable to AIG common shareholders:
Basic and diluted:
Loss from continuing operations $ (709.35) $ (16.54) $ (725.89)
Loss from discontinued operations $ (47.50) $ (2.41) $ (49.91)
Net loss attributable to AIG $ (756.85) $ (18.95) $ (775.80)
December 31, 2008 balance sheet data:
Total assets $ 860,418 $ (11,866) $ 848,552
Total liabilities 797,692 – 797,692
Total AIG shareholders’ equity 52,710 (11,866) 40,844
Total equity 60,805 (11,866) 48,939
Other data (from continuing operations):
Adjustment to federal and foreign deferred tax valuation allowance $ 20,121 $ 2,051 $ 22,172
(a) Includes the effect of the reclassification of ILFC as discontinued operations.
(b) Includes an adjustment to the loss accrual related to the sale of Nan Shan of $2.3 billion.
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AIG 2012 Form 10-K 49
Year Ended December 31, 2009 As Previously Effect of As Currently
(dollars in millions, except per share data) Reported(a) Change Reported
Year Ended December 31, 2008 As Previously Effect of As Currently
(in millions, except per share data) Reported(a) Change Reported
ITEM 6 / SELECTED FINANCIAL DATA