AIG 2012 Annual Report Download - page 72

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.....................................................................................................................................................................................
Catastrophe losses are generally weather or seismic events having a net impact on AIG Property Casualty in excess
of $10 million each.
•Accident year combined ratio, as adjusted: the combined ratio excluding catastrophe losses and related
reinstatement premiums, prior year development, net of premium adjustments, and the impact of reserve
discounting.
•AIG Life and Retirement
•Operating income (loss): In 2012, we revised our definition of operating income (loss). Operating income
(loss) is derived by excluding the following items from net income (loss): legal settlements related to legacy
crisis matters described above, changes in fair values of fixed maturity securities designated to hedge living
benefit liabilities, net realized capital (gains) losses, and changes in benefit reserves and DAC, VOBA, and
SIA related to net realized capital (gains) losses. We believe that Operating income (loss) is useful because
excluding these volatile items permits investors to better assess the operating performance of the underlying
business by highlighting the results from ongoing operations.
•Premiums, deposits and other considerations: includes life insurance premiums and deposits on annuity
contracts and mutual funds.
•Other Operations – Operating income (loss): income (loss) excluding certain legal reserves (settlements) related
to legacy crisis matters described above, loss on extinguishment of debt, amortization of prepaid commitment fee
asset, Net realized capital (gains) losses, net (gains) losses on sale of divested businesses and properties, and
income from divested businesses.
Results from discontinued operations are excluded from all of these measures.
..................................................................................................................................................................................................................................
AIG 2012 Form 10-K 55
ITEM 7 / USE OF NON-GAAP MEASURES