AIG 2014 Annual Report Download - page 337

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ITEM 8 / NOTE 25. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
320
25. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
Consolidated Statements of Income (Loss)
Three Months Ended
March 31, June 30, September 30, December 31,
(dollars in millions, except per share data) 2014 2013 2014 2013 2014 2013 2014 2013
Total revenues $ 16,163 $ 17,008 $16,136 $ 18,485 $16,697 $ 15,981 $ 15,410 $ 17,400
Income from continuing
operations before income taxes 2,273 2,875 4,480 3,165 3,019 1,178 729 2,150
Income (loss) from discontinued
operations, net of income taxes (47) 73 30 18 2 (18) (35) 11
Net income 1,612 2,231 3,036 2,758 2,201 2,130 675 1,973
Net income (loss) from continuing
operations attributable to
noncontrolling interests:
Nonvoting, callable, junior, and
senior preferred interests - ---- - --
Other 3 25 (37) 27 9 (40) 20 (5)
Total net income (loss)
attributable
to noncontrolling interests 3 25 (37) 27 9 (40) 20 (5)
Net income attributable to AIG* $ 1,609 $ 2,206 $3,073 $ 2,731 $2,192 $ 2,170 $ 655 $ 1,978
Earnings (loss) per common share
attributable to AIG common
shareholders:
Basic:
Income from continuing
operations $ 1.13 $ 1.44 $2.11 $1.84$1.54 $ 1.48 $ 0.50 $1.34
Income (loss) from discontinued
operations $ (0.03) $ 0.05 $0.02 $0.01$- $ (0.01) $ (0.03) $0.01
Diluted:
Income from continuing
operations $ 1.12 $ 1.44 $2.08 $1.83$1.52 $ 1.47 $ 0.49 $1.33
Income (loss) from discontinued
operations $ (0.03) $ 0.05 $0.02 $0.01$- $ (0.01) $ (0.03) $0.01
Weighted average shares outstanding:
Basic 1,459,249,393 1,476,471,097 1,442,397,111 1,476,512,720 1,419,239,774 1,475,053,126 1,391,790,420 1,468,725,573
Diluted 1,472,510,813 1,476,678,931 1,464,676,330 1,482,246,618 1,442,067,842 1,485,322,858 1,412,162,456 1,480,654,482
Noteworthy quarterly items -
income (expense):
Other-than-temporary
impairments (59) (48) (55) (46) (50) (52) (83) (86)
Net (gain) loss on sale of
divested businesses (4) - (2,174) 47 (18) - (1) 1
Federal and foreign valuation
allowance for deferred tax assets 65 761 75 509 21 1,154 20 741
Net gain (loss) on extinguishment of
debt (238) (340) (34) (38) (742) (81) (1,268) (192)
* Net income attributable to AIG for the three-month period ended December 31, 2013 includes $327 million of net charges primarily related to income taxes to
correct prior 2013 quarters presented. Such amounts are not material to any period presented.