AIG 2012 Annual Report Download - page 76

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The following table presents a reconciliation of pre-tax income (loss) to operating income (loss) by operating
segment and after-tax operating income (loss), which are non-GAAP measures. See Use of Non-GAAP
Measures for additional information.
AIG Property Casualty
Pre-tax income (loss) $ 1,820 $ (93)
Net realized capital (gains) losses (607) 38
Legal settlements*––
Bargain purchase gain – (332)
Other (income) expense – net 5 (669)
Operating income (loss) $ 1,218 $ (1,056)
AIG Life and Retirement
Pre-tax income $ 2,956 $ 2,701
Legal settlements*––
Changes in fair value of fixed maturity securities designated to hedge
living benefit liabilities ––
Net realized capital (gains) losses (6) 1,251
Change in benefit reserves and DAC, VOBA and SIA related to net
realized capital (gains) losses 327 104
Operating income $ 3,277 $ 4,056
Other Operations
Pre-tax income (loss) $ (4,703) $ 17,611
Net realized capital gains (12) (908)
Net (gains) losses on sale of divested businesses 74 (18,897)
Amortization of prepaid commitment fee asset – 3,471
Legal reserves 20 3
Legal settlements*––
Deferred gain on FRBNY credit facility (296) –
Loss on extinguishment of debt 3,143 104
Divested businesses – (1,875)
Operating income (loss) $ (1,774) $ (491)
Total
Operating income of reportable segments and other operations $ 2,721 $ 2,509
Consolidations, eliminations and other adjustments (190) (301)
Income tax benefits (expenses) 243 (1,585)
Non-controlling interest (688) (2,172)
After-tax operating income (loss) $ 2,086 $ (1,549)
* Reflects litigation settlement income recorded in 2012 from settlements with three financial institutions that participated in the creation, offering
and sale of RMBS as to which AIG and its subsidiaries suffered losses either for their own accounts or in connection with their participation in AIG’s
securities lending program.
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AIG 2012 Form 10-K 59
Years Ended December 31,
(in millions) 2012 2011 2010
$ 1,837
2
(17)
–
(2)
$ 1,820
$ 3,780
(154)
(37)
(630)
1,201
$ 4,160
$ 3,899
(501)
2
–
754
(39)
–
9
–
$ 4,124
$ 10,104
(20)
(3,187)
(262)
$ 6,635
ITEM 7 / EXECUTIVE SUMMARY