AIG 2015 Annual Report Download - page 245

ITEM 8 / NOTE 3. SEGMENT INFORMATION
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245
Institutional Markets 2,813 2,090 1 (160) 680
Total Commercial Insurance 28,862 6,653 9 2,283 4,980
Consumer Insurance
Retirement 9,431 6,628 3 (165) 3,490
Life 6,397 2,269 4 214 806
Personal Insurance 12,832 455 3 2,110 268
Total Consumer Insurance 28,660 9,352 10 2,159 4,564
Corporate and Other 4,073 309 2,451 221 (265)
AIG Consolidation and elimination (71) (343) (328) (26) 111
Total AIG Consolidated pre-tax operating income $ 61,524 $ 15,971 $ 2,142 $ 4,637 $ 9,390
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits (161) (161) - - (161)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains - - - - (1,608)
Other income (expense) - net - - - - (72)
Loss on extinguishment of debt - - - - (651)
Net realized capital gains 1,939 - - - 1,939
Loss from divested businesses 4,420 - - 76 (177)
Non-operating litigation reserves and settlements 1,152 - - - 708
Reserve development related to non-operating run-off insurance
business - - - - -
Restructuring and other costs - - - - -
Other - - - - -
Pre-tax income $ 68,874 $ 15,810 $ 2,142 $ 4,713 $ 9,368
The following table presents AIG’s year-end identifiable assets and capital expenditures by legal entity category:
Year-End Identifiable Assets Capital Expenditures
(in millions) 2015 2014 2015 2014
Total Non-Life Insurance Companies $150,368 $ 164,299 $ 991 $ 697
Total Life Insurance Companies 297,499 301,295 102 114
Total Corporate and Other 141,648 159,394 629 1,021
AIG Consolidation and Elimination (92,572) (109,407) --
Total Assets $496,943 $ 515,581 $ 1,722 $ 1,832
The following table presents AIG’s consolidated total revenues and real estate and other fixed assets, net of
accumulated depreciation, by major geographic area:
Real Estate and Other Fixed Assets
,
Total Revenues
*
Net of Accumulated De
p
reciation
(in millions) 2015 2014 2013 2015
2014 2013
U.S.
$
42
,
366
$
44
,
274
$
46
,
078
$
2
,
213
$
1
,
886
$
1
,
606
Asia Pacific 5,942 7,523 8,804 602 521 448
Other Forei
g
n 10,019 12,609 13,992 320 293 261
Consolidated $ 58
,
327
$
64
,
406
$
68
,
874 $ 3
,
135
$
2
,
700
$
2
,
315
* Revenues are generally reported according to the geographic location of the reporting unit.
4. FAIR VALUE MEASUREMENTS
Fair Value Measurements on a Recurring Basis
We carry certain of our financial instruments at fair value. We define the fair value of a financial instrument as the amount that
would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. We are responsible for the determination of the value of the investments carried at fair value and the
supporting methodologies and assumptions.