AIG 2013 Annual Report Download - page 159

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(b) AIG Parent guarantees all DIB debt, except for MIP notes payable and Series AIGFP matched notes and bonds payable, which are direct
obligations of AIG Parent.
(c) Primarily represents adjustments to the fair value of debt.
(d) At December 31, 2013, includes debt of consolidated investments primarily held through AIG Global Real Estate Investment Corp., AIG Property
Casualty U.S., AIG Credit Corp. and AIG Life and Retirement of $1.5 billion, $58 million, $111 million and $201 million, respectively.
(e) Excludes $21.4 billion and $24.3 billion related to ILFC as it is classified as a held-for-sale business at December 31, 2013 and 2012,
respectively.
TOTAL DEBT OUTSTANDING
(in millions)
Total AIG general
borrowings
Total AIG/DIB
borrowings supported
by assets
Total debt not
guaranteed by AIG
December 31, 2013 December 31, 2012
$41,693
$48,500
$17,929
$21,199
$20,895
$25,466
$2,565 $2,139
The decrease in total debt outstanding as of December 31, 2013 compared to December 31, 2012 was primarily due
to maturities and repayments of debt, including cash tender offers, redemptions and repurchases of certain debt
securities discussed above.
The following table summarizes maturing debt at December 31, 2013 of AIG (excluding $1.9 billion of
borrowings of consolidated investments) for the next four quarters:
AIG/DIB borrowings supported by assets(b)
Other subsidiaries notes, bonds, loans and mortgages payable
Total(a)
(a) There is no debt related to AIG general borrowings set to mature in 2014. This debt will begin maturing in 2015.
(b) 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.
See Note 14 to the Consolidated Financial Statements for additional details for debt outstanding.
Credit ratings estimate a company’s ability to meet its obligations and may directly affect the cost and
availability of financing to that company. The following table presents the credit ratings of AIG and certain of its
subsidiaries as of February 1, 2014. Figures in parentheses indicate the relative ranking of the ratings within the
Debt Maturities
Credit Ratings
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AIG 2013 Form 10-K 141
ITEM 7 / LIQUIDITY AND CAPITAL RESOURCES
First Second Third Fourth
Quarter Quarter Quarter Quarter
(in millions) 2014 2014 2014 2014 Total
$ 2,674 $ 506 $ 102 $ 41 $ 3,323
1– 6 – 7
$ 2,675 $ 506 $ 108 $ 41 $ 3,330
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