AIG 2013 Annual Report Download - page 148

We also made other repayments of approximately $6.3 billion. AIG Parent repaid $4.2 billion of debt, including
$1.1 billion of MIP and $300 million of Series AIGFP long-term debt, and made interest payments on our debt
instruments totaling $2.0 billion.
•Purchase of Warrants
We paid approximately $25 million in the first quarter 2013 in the aggregate to purchase a warrant issued to
the Department of the Treasury in 2008 that provided the right to purchase approximately 2.7 million shares of
AIG Common Stock at $50.00 per share and a warrant issued to the Department of the Treasury in 2009 that
provided the right to purchase up to 150 shares of AIG Common Stock at $0.00002 per share.
•Dividends
We paid cash dividends of $0.10 per share on AIG Common Stock in each of the third and fourth quarters of
2013.
•Repurchase of Common Stock
We repurchased a total of approximately 12 million shares of AIG Common Stock in the third and fourth
quarters of 2013, for an aggregate purchase price of approximately $597 million.
•AIG Parent Funding to Subsidiaries
We made $2.1 billion in net capital contributions to subsidiaries, including a contribution of approximately
$1.9 billion to AIG Capital Corporation related to the transfer of investments in life settlements from AIG
Property Casualty.
AIG Parent repaid $0.5 billion of its $1.1 billion outstanding loan from ILFC in the fourth quarter of 2013.
* In January 2014, AIG reduced DIB debt by $2.2 billion through a redemption of $1.2 billion aggregate principal amount of its 4.250% Notes due
2014 and a repurchase of $1.0 billion of its 8.25% Notes due 2018 using cash and short term investments allocated to the DIB.
The following table presents selected data from AIG’s Consolidated Statements of Cash Flows:
Sources:
Net cash provided by (used in) operating activities – continuing operations $ 3,676 $ (3,451)
Net cash provided by (used in) operating activities – discontinued operations – 3,370
Net cash provided by changes in restricted cash(a) 414 27,244
Net cash provided by other investing activities 16,198 9,204
Changes in policyholder contract balances – 4,333
Issuance of long-term debt 8,612 7,762
Proceeds from drawdown on the Department of Treasury Commitment – 20,292
Issuance of Common Stock – 5,055
Net cash provided by (used in) other financing activities 4,251 –
Total sources 33,151 73,809
Uses:
Change in policyholder contract balances (690) –
Repayments of long-term debt (11,101) (17,810)
Federal Reserve Bank of New York credit facility repayments – (14,622)
Repayment of Department of Treasury SPV Preferred Interests (8,636) (12,425)
Repayment of Federal Reserve Bank of New York SPV Preferred Interests – (26,432)
Purchases of AIG Common Stock (13,000) (70)
Net cash used in other financing activities(b) – (3,009)
Total uses (33,427) (74,368)
Effect of exchange rate changes on cash 16 29
Increase (decrease) in cash $ (260) $ (530)
(a) Includes return of cash from ALICO escrow arrangement.
(b) Includes payment of two quarterly cash dividends.
Analysis of Sources and Uses of Cash
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AIG 2013 Form 10-K130
ITEM 7 / LIQUIDITY AND CAPITAL RESOURCES
Years Ended December 31,
(in millions) 2013 2012 2011
$ 5,865
–
1,244
5,855
–
5,235
–
–
–
18,199
(547)
(14,197)
–
–
–
(597)
(1,652)
(16,993)
(92)
$ 1,114
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