AIG 2015 Annual Report Download - page 229

229
AMERICAN INTERNATIONAL GROUP, INC.
CONSOLIDATED STATEMENTS OF INCOME
Years Ended December 31,
(dollars in millions, except per share data) 2015 2014 2013
Revenues:
Premiums $36,655 $ 37,254 $37,499
Policy fees 2,755 2,615 2,340
Net investment income 14,053 16,079 15,810
Net realized capital gains:
Total other-than-temporary impairments on available for sale securities (556) (182) (165)
Portion of other-than-temporary impairments on available for sale
fixed maturity securities recognized in Other comprehensive income (loss) (35) (35) (22)
Net other-than-temporary impairments on available for sale
securities recognized in net income (591) (217) (187)
Other realized capital gains 1,367 956 2,126
Total net realized capital gains 776 739 1,939
Aircraft leasing revenue - 1,602 4,420
Other income 4,088 6,117 6,866
Total revenues 58,327 64,406 68,874
Benefits, losses and expenses:
Policyholder benefits and losses incurred 31,345 28,281 29,503
Interest credited to policyholder account balances 3,731 3,768 3,892
Amortization of deferred policy acquisition costs 5,236 5,330 5,157
General operating and other expenses 12,686 13,138 13,564
Interest expense 1,281 1,718 2,142
Aircraft leasing expenses - 1,585 4,549
Loss on extinguishment of debt 756 2,282 651
Net (gain) loss on sale of properties and divested businesses 11 (2,197) 48
Total benefits, losses and expenses 55,046 53,905 59,506
Income from continuing operations before income tax expense 3,281 10,501 9,368
Income tax expense:
Current 820 588 680
Deferred 239 2,339 (320)
Income tax expense 1,059 2,927 360
Income from continuing operations 2,222 7,574 9,008
Income (loss) from discontinued operations, net of income tax
expense - (50) 84
Net income 2,222 7,524 9,092
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests 26 (5) 7
Net income attributable to AIG $2,196 $ 7,529 $9,085
Net income attributable to AIG common shareholders $2,196 $ 7,529 $9,085
Income per common share attributable to AIG:
Basic:
Income from continuing operations $1.69 $ 5.31 $6.11
Income (loss) from discontinued operations $ - $ (0.04)$0.05
Net income attributable to AIG $1.69 $ 5.27 $6.16
Diluted:
Income from continuing operations $1.65 $ 5.24 $6.08
Income (loss) from discontinued operations $ - $ (0.04)$0.05
Net income attributable to AIG $1.65 $ 5.20 $6.13
Weighted average shares outstanding:
Basic 1,299,825,350 1,427,959,799 1,474,171,690
Diluted 1,334,464,883 1,447,553,652 1,481,206,797
Dividends declared per common share $0.81 $ 0.50 $0.20
See accompanying Notes to Consolidated Financial Statements.