26. INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT
The following condensed consolidating financial statements reflect the results of AIG Life Holdings, Inc. (AIGLH), a holding company and a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of all outstanding debt of AIGLH.
Condensed Consolidating Balance Sheets
| (in millions) |
American International Group, Inc. (As Guarantor) |
AIGLH |
Other Subsidiaries |
Reclassifications and Eliminations |
Consolidated AIG |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
December 31, 2013 |
||||||||||||||||
|
Assets: |
||||||||||||||||
|
Short-term investments |
$ | 11,965 | $ | – | $ | 11,404 | $ | (1,752 | ) | $ | 21,617 | |||||
|
Other investments(a) |
7,561 | – | 327,250 | – | 334,811 | |||||||||||
|
Total investments |
19,526 | – | 338,654 | (1,752 | ) | 356,428 | ||||||||||
|
Cash |
30 | 51 | 2,160 | – | 2,241 | |||||||||||
|
Loans to subsidiaries(b) |
31,220 | – | 854 | (32,074 | ) | – | ||||||||||
|
Investment in consolidated subsidiaries(b) |
66,201 | 39,103 | – | (105,304 | ) | – | ||||||||||
|
Other assets, including deferred income taxes |
21,606 | 112 | 132,492 | (1,086 | ) | 153,124 | ||||||||||
|
Assets held for sale |
– | – | 29,536 | – | 29,536 | |||||||||||
|
Total assets |
$ | 138,583 | $ | 39,266 | $ | 503,696 | $ | (140,216 | ) | $ | 541,329 | |||||
|
Liabilities: |
||||||||||||||||
|
Insurance liabilities |
$ | – | $ | – | $ | 271,252 | $ | – | $ | 271,252 | ||||||
|
Long-term debt |
30,839 | 1,352 | 9,502 | – | 41,693 | |||||||||||
|
Other liabilities, including intercompany balances(a)(c) |
6,422 | 161 | 98,908 | (2,766 | ) | 102,725 | ||||||||||
|
Loans from subsidiaries(b) |
852 | 200 | 31,173 | (32,225 | ) | – | ||||||||||
|
Liabilities held for sale |
– | – | 24,548 | – | 24,548 | |||||||||||
|
Total liabilities |
38,113 | 1,713 | 435,383 | (34,991 | ) | 440,218 | ||||||||||
|
Redeemable noncontrolling interests (see Note 17) |
– | – | 30 | – | 30 | |||||||||||
|
Total AIG shareholders' equity |
100,470 | 37,553 | 67,672 | (105,225 | ) | 100,470 | ||||||||||
|
Non-redeemable noncontrolling interests |
– | – | 611 | – | 611 | |||||||||||
|
Total equity |
100,470 | 37,553 | 68,283 | (105,225 | ) | 101,081 | ||||||||||
|
Total liabilities and equity |
$ | 138,583 | $ | 39,266 | $ | 503,696 | $ | (140,216 | ) | $ | 541,329 | |||||
|
December 31, 2012 |
||||||||||||||||
|
Assets: |
||||||||||||||||
|
Short-term investments |
$ | 14,764 | $ | – | $ | 17,061 | $ | (3,017 | ) | $ | 28,808 | |||||
|
Other investments(a) |
3,902 | – | 343,114 | – | 347,016 | |||||||||||
|
Total investments |
18,666 | – | 360,175 | (3,017 | ) | 375,824 | ||||||||||
|
Cash |
81 | 73 | 997 | – | 1,151 | |||||||||||
|
Loans to subsidiaries(b) |
35,064 | – | (2,251 | ) | (32,813 | ) | – | |||||||||
|
Investment in consolidated subsidiaries(b) |
70,781 | 43,891 | – | (114,672 | ) | – | ||||||||||
|
Other assets, including deferred income taxes |
23,153 | 150 | 120,575 | (4,185 | ) | 139,693 | ||||||||||
|
Assets held for sale |
– | – | 31,965 | – | 31,965 | |||||||||||
|
Total assets |
$ | 147,745 | $ | 44,114 | $ | 511,461 | $ | (154,687 | ) | $ | 548,633 | |||||
|
Liabilities: |
||||||||||||||||
|
Insurance liabilities |
$ | – | $ | – | $ | 280,434 | $ | (136 | ) | $ | 280,298 | |||||
|
Long-term debt |
36,366 | 1,638 | 10,496 | – | 48,500 | |||||||||||
|
Other liabilities, including intercompany balances(a)(c) |
12,375 | 261 | 84,761 | (3,931 | ) | 93,466 | ||||||||||
|
Loans from subsidiaries(b) |
1,002 | 472 | 34,500 | (35,974 | ) | – | ||||||||||
|
Liabilities held for sale |
– | – | 27,366 | – | 27,366 | |||||||||||
|
Total liabilities |
49,743 | 2,371 | 437,557 | (40,041 | ) | 449,630 | ||||||||||
|
Redeemable noncontrolling interests (see Note 17) |
– | – | 334 | – | 334 | |||||||||||
|
Total AIG shareholders' equity |
98,002 | 41,743 | 72,903 | (114,646 | ) | 98,002 | ||||||||||
|
Non-redeemable noncontrolling interests |
– | – | 667 | – | 667 | |||||||||||
|
Total equity |
98,002 | 41,743 | 73,570 | (114,646 | ) | 98,669 | ||||||||||
|
Total liabilities and equity |
$ | 147,745 | $ | 44,114 | $ | 511,461 | $ | (154,687 | ) | $ | 548,633 | |||||
(a) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment.
(b) Eliminated in consolidation.
(c) For December 31, 2013 and December 31, 2012, includes intercompany tax payable of $1.4 billion and $6.1 billion, respectively, and intercompany derivative liabilities of $249 million and $602 million, respectively, for American International Group, Inc. (As Guarantor) and intercompany tax receivables of $98 million and $120 million, respectively, for AIGLH.
Condensed Consolidating Statements of Income (Loss)
| (in millions) |
American International Group, Inc. (As Guarantor) |
AIGLH |
Other Subsidiaries |
Reclassifications and Eliminations |
Consolidated AIG |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Year Ended December 31, 2013 |
||||||||||||||||
|
Revenues: |
||||||||||||||||
|
Equity in earnings of consolidated subsidiaries* |
$ | 7,638 | $ | 4,075 | $ | – | $ | (11,713 | ) | $ | – | |||||
|
Other income |
1,487 | 1 | 67,502 | (312 | ) | 68,678 | ||||||||||
|
Total revenues |
9,125 | 4,076 | 67,502 | (12,025 | ) | 68,678 | ||||||||||
|
Expenses: |
||||||||||||||||
|
Interest expense |
1,938 | 126 | 233 | (155 | ) | 2,142 | ||||||||||
|
Loss on extinguishment of debt |
580 | – | 71 | – | 651 | |||||||||||
|
Other expenses |
1,520 | 75 | 55,081 | (159 | ) | 56,517 | ||||||||||
|
Total expenses |
4,038 | 201 | 55,385 | (314 | ) | 59,310 | ||||||||||
|
Income (loss) from continuing operations before income tax expense (benefit) |
5,087 | 3,875 | 12,117 | (11,711 | ) | 9,368 | ||||||||||
|
Income tax expense (benefit) |
(4,012 | ) | (58 | ) | 4,454 | (24 | ) | 360 | ||||||||
|
Income (loss) from continuing operations |
9,099 | 3,933 | 7,663 | (11,687 | ) | 9,008 | ||||||||||
|
Income (loss) from discontinued operations, net of income taxes |
(14 | ) | – | 98 | – | 84 | ||||||||||
|
Net income (loss) |
9,085 | 3,933 | 7,761 | (11,687 | ) | 9,092 | ||||||||||
|
Less: |
||||||||||||||||
|
Total net income attributable to noncontrolling interests |
– | – | 7 | – | 7 | |||||||||||
|
Net income (loss) attributable to AIG |
$ | 9,085 | $ | 3,933 | $ | 7,754 | $ | (11,687 | ) | $ | 9,085 | |||||
|
Year Ended December 31, 2012 |
||||||||||||||||
|
Revenues: |
||||||||||||||||
|
Equity in earnings of consolidated subsidiaries* |
$ | 1,970 | $ | 2,315 | $ | – | $ | (4,285 | ) | $ | – | |||||
|
Change in fair value of ML III |
2,287 | – | 601 | – | 2,888 | |||||||||||
|
Other income |
1,911 | 49 | 66,556 | (383 | ) | 68,133 | ||||||||||
|
Total revenues |
6,168 | 2,364 | 67,157 | (4,668 | ) | 71,021 | ||||||||||
|
Expenses: |
||||||||||||||||
|
Interest expense |
2,257 | 174 | 271 | (383 | ) | 2,319 | ||||||||||
|
Loss on extinguishment of debt |
9 | – | 23 | – | 32 | |||||||||||
|
Other expenses |
1,602 | – | 64,177 | – | 65,779 | |||||||||||
|
Total expenses |
3,868 | 174 | 64,471 | (383 | ) | 68,130 | ||||||||||
|
Income (loss) from continuing operations before income tax expense (benefit) |
2,300 | 2,190 | 2,686 | (4,285 | ) | 2,891 | ||||||||||
|
Income tax expense (benefit) |
(1,137 | ) | (17 | ) | 346 | – | (808 | ) | ||||||||
|
Income (loss) from continuing operations |
3,437 | 2,207 | 2,340 | (4,285 | ) | 3,699 | ||||||||||
|
Income from discontinued operations, net of income taxes |
1 | – | – | – | 1 | |||||||||||
|
Net income (loss) |
3,438 | 2,207 | 2,340 | (4,285 | ) | 3,700 | ||||||||||
|
Less: |
||||||||||||||||
|
Net income from continuing operations attributable to noncontrolling interests: |
||||||||||||||||
|
Nonvoting, callable, junior and senior preferred interests |
– | – | – | 208 | 208 | |||||||||||
|
Other |
– | – | 54 | – | 54 | |||||||||||
|
Total net income attributable to noncontrolling interests |
– | – | 54 | 208 | 262 | |||||||||||
|
Net income (loss) attributable to AIG |
$ | 3,438 | $ | 2,207 | $ | 2,286 | $ | (4,493 | ) | $ | 3,438 | |||||
| (in millions) |
American International Group, Inc. (As Guarantor) |
AIGLH |
Other Subsidiaries |
Reclassifications and Eliminations |
Consolidated AIG |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Year Ended December 31, 2011 |
||||||||||||||||
|
Revenues: |
||||||||||||||||
|
Equity in earnings of consolidated subsidiaries* |
$ | 6,260 | $ | 1,586 | $ | – | $ | (7,846 | ) | $ | – | |||||
|
Change in fair value of ML III |
(723 | ) | – | 77 | – | (646 | ) | |||||||||
|
Other income |
1,088 | 189 | 65,663 | (1,189 | ) | 65,751 | ||||||||||
|
Total revenues |
6,625 | 1,775 | 65,740 | (9,035 | ) | 65,105 | ||||||||||
|
Expenses: |
||||||||||||||||
|
Interest expense on FRBNY Credit Facility |
72 | – | – | (2 | ) | 70 | ||||||||||
|
Other interest expense |
2,845 | 281 | 437 | (1,189 | ) | 2,374 | ||||||||||
|
Loss on extinguishment of debt |
2,847 | – | 61 | – | 2,908 | |||||||||||
|
Other expenses |
867 | – | 59,787 | – | 60,654 | |||||||||||
|
Total expenses |
6,631 | 281 | 60,285 | (1,191 | ) | 66,006 | ||||||||||
|
Income (loss) from continuing operations before income tax expense (benefit) |
(6 | ) | 1,494 | 5,455 | (7,844 | ) | (901 | ) | ||||||||
|
Income tax expense (benefit) |
(19,695 | ) | (103 | ) | 34 | – | (19,764 | ) | ||||||||
|
Income (loss) from continuing operations |
19,689 | 1,597 | 5,421 | (7,844 | ) | 18,863 | ||||||||||
|
Income (loss) from discontinued operations, net of income taxes |
933 | – | 1,536 | (2 | ) | 2,467 | ||||||||||
|
Net income (loss) |
20,622 | 1,597 | 6,957 | (7,846 | ) | 21,330 | ||||||||||
|
Less: |
||||||||||||||||
|
Net income from continuing operations attributable to noncontrolling interests: |
||||||||||||||||
|
Nonvoting, callable, junior and senior preferred interests |
– | – | – | 634 | 634 | |||||||||||
|
Other |
– | – | 55 | – | 55 | |||||||||||
|
Total net income from continuing operations attributable to noncontrolling interests |
– | – | 55 | 634 | 689 | |||||||||||
|
Net Income from discontinued operations attributable to noncontrolling interests |
– | – | 19 | – | 19 | |||||||||||
|
Total net income attributable to noncontrolling interests |
– | – | 74 | 634 | 708 | |||||||||||
|
Net income (loss) attributable to AIG |
$ | 20,622 | $ | 1,597 | $ | 6,883 | $ | (8,480 | ) | $ | 20,622 | |||||
* Eliminated in consolidation.
Condensed Consolidating Statements of Comprehensive Income (Loss)
| (in millions) |
American International Group, Inc. (As Guarantor) |
AIGLH |
Other Subsidiaries |
Reclassifications and Eliminations |
Consolidated AIG |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Year Ended December 31, 2013 |
||||||||||||||||
|
Net income (loss) |
$ | 9,085 | $ | 3,933 | $ | 7,761 | $ | (11,687 | ) | $ | 9,092 | |||||
|
Other comprehensive income (loss) |
(6,214 | ) | (4,689 | ) | (6,719 | ) | 11,385 | (6,237 | ) | |||||||
|
Comprehensive income (loss) |
2,871 | (756 | ) | 1,042 | (302 | ) | 2,855 | |||||||||
|
Total comprehensive loss attributable to noncontrolling interests |
– | – | (16 | ) | – | (16 | ) | |||||||||
|
Comprehensive income (loss) attributable to AIG |
$ | 2,871 | $ | (756 | ) | $ | 1,058 | $ | (302 | ) | $ | 2,871 | ||||
|
Year Ended December 31, 2012 |
||||||||||||||||
|
Net income (loss) |
$ | 3,438 | $ | 2,207 | $ | 2,340 | $ | (4,285 | ) | $ | 3,700 | |||||
|
Other comprehensive income (loss) |
6,093 | 3,973 | 7,158 | (11,128 | ) | 6,096 | ||||||||||
|
Comprehensive income (loss) |
9,531 | 6,180 | 9,498 | (15,413 | ) | 9,796 | ||||||||||
|
Total comprehensive income attributable to noncontrolling interests |
– | – | 57 | 208 | 265 | |||||||||||
|
Comprehensive income (loss) attributable to AIG |
$ | 9,531 | $ | 6,180 | $ | 9,441 | $ | (15,621 | ) | $ | 9,531 | |||||
|
Year Ended December 31, 2011 |
||||||||||||||||
|
Net income (loss) |
$ | 20,622 | $ | 1,597 | $ | 6,957 | $ | (7,846 | ) | $ | 21,330 | |||||
|
Other comprehensive income (loss) |
(2,483 | ) | 1,101 | (2,674 | ) | 1,452 | (2,604 | ) | ||||||||
|
Comprehensive income (loss) |
18,139 | 2,698 | 4,283 | (6,394 | ) | 18,726 | ||||||||||
|
Total comprehensive income (loss) attributable to noncontrolling interests |
– | – | (47 | ) | 634 | 587 | ||||||||||
|
Comprehensive income (loss) attributable to AIG |
$ | 18,139 | $ | 2,698 | $ | 4,330 | $ | (7,028 | ) | $ | 18,139 | |||||
Condensed Consolidating Statements of Cash Flows
| (in millions) |
American International Group, Inc. (As Guarantor) |
AIGLH |
Other Subsidiaries and Eliminations |
Consolidated AIG |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Year Ended December 31, 2013 |
|||||||||||||
|
Net cash (used in) provided by operating activities |
6,422 | 4,488 | (5,045 | ) | 5,865 | ||||||||
|
Cash flows from investing activities: |
|||||||||||||
|
Sales of investments |
1,425 | – | 75,669 | 77,094 | |||||||||
|
Purchase of investments |
(5,506 | ) | – | (72,381 | ) | (77,887 | ) | ||||||
|
Loans to subsidiaries – net |
3,660 | – | (3,660 | ) | – | ||||||||
|
Contributions to subsidiaries – net |
(2,081 | ) | (1 | ) | 2,082 | – | |||||||
|
Net change in restricted cash |
493 | – | 751 | 1,244 | |||||||||
|
Net change in short-term investments |
2,361 | – | 5,481 | 7,842 | |||||||||
|
Other, net |
130 | – | (1,324 | ) | (1,194 | ) | |||||||
|
Net cash (used in) provided by investing activities |
482 | (1 | ) | 6,618 | 7,099 | ||||||||
|
Cash flows from financing activities: |
|||||||||||||
|
Issuance of long-term debt |
2,015 | – | 3,220 | 5,235 | |||||||||
|
Repayments of long-term debt |
(7,439 | ) | (245 | ) | (6,513 | ) | (14,197 | ) | |||||
|
Purchase of Common Stock |
(597 | ) | – | – | (597 | ) | |||||||
|
Intercompany loans – net |
(123 | ) | (273 | ) | 396 | – | |||||||
|
Cash dividends paid |
(294 | ) | (3,991 | ) | 3,991 | (294 | ) | ||||||
|
Other, net |
(517 | ) | – | (1,388 | ) | (1,905 | ) | ||||||
|
Net cash (used in) financing activities |
(6,955 | ) | (4,509 | ) | (294 | ) | (11,758 | ) | |||||
|
Effect of exchange rate changes on cash |
– | – | (92 | ) | (92 | ) | |||||||
|
Change in cash |
(51 | ) | (22 | ) | 1,187 | 1,114 | |||||||
|
Cash at beginning of year |
81 | 73 | 997 | 1,151 | |||||||||
|
Change in cash of businesses held for sale |
– | – | (24 | ) | (24 | ) | |||||||
|
Cash at end of year |
$ | 30 | $ | 51 | $ | 2,160 | $ | 2,241 | |||||
| |
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Year Ended December 31, 2012 |
|||||||||||||
|
Net cash (used in) provided by operating activities |
(825 | ) | 2,682 | 1,819 | 3,676 | ||||||||
|
Cash flows from investing activities: |
|||||||||||||
|
Sales of investments |
16,874 | – | 84,532 | 101,406 | |||||||||
|
Purchase of investments |
(4,406 | ) | – | (72,161 | ) | (76,567 | ) | ||||||
|
Loans to subsidiaries – net |
5,126 | – | (5,126 | ) | – | ||||||||
|
Contributions to subsidiaries – net |
(152 | ) | – | 152 | – | ||||||||
|
Net change in restricted cash |
(377 | ) | – | 791 | 414 | ||||||||
|
Net change in short-term investments |
(2,029 | ) | – | (6,080 | ) | (8,109 | ) | ||||||
|
Other, net |
259 | – | (791 | ) | (532 | ) | |||||||
|
Net cash provided by investing activities |
15,295 | – | 1,317 | 16,612 | |||||||||
|
Cash flows from financing activities: |
|||||||||||||
|
Issuance of long-term debt |
3,754 | – | 4,858 | 8,612 | |||||||||
|
Repayments of long-term debt |
(3,238 | ) | – | (7,863 | ) | (11,101 | ) | ||||||
|
Intercompany loans – net |
(2,032 | ) | (2,622 | ) | 4,654 | – | |||||||
|
Purchase of common stock |
(13,000 | ) | – | – | (13,000 | ) | |||||||
|
Other, net |
(49 | ) | – | (5,026 | ) | (5,075 | ) | ||||||
|
Net cash (used in) financing activities |
(14,565 | ) | (2,622 | ) | (3,377 | ) | (20,564 | ) | |||||
|
Effect of exchange rate changes on cash |
– | – | 16 | 16 | |||||||||
|
Change in cash |
(95 | ) | 60 | (225 | ) | (260 | ) | ||||||
|
Cash at beginning of year |
176 | 13 | 1,285 | 1,474 | |||||||||
|
Reclassification to assets held for sale |
– | – | (63 | ) | (63 | ) | |||||||
|
Cash at end of year |
$ | 81 | $ | 73 | $ | 997 | $ | 1,151 | |||||
| (in millions) |
American International Group, Inc. (As Guarantor) |
AIGLH |
Other Subsidiaries and Eliminations |
Consolidated AIG |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Year Ended December 31, 2011 |
|||||||||||||
|
Net cash (used in) provided by operating activities |
$ | (5,600 | ) | $ | 1,277 | $ | 872 | $ | (3,451 | ) | |||
|
Net cash provided by operating activities – discontinued operations |
– | – | 3,370 | 3,370 | |||||||||
|
Net cash (used in) provided by operating activities |
(5,600 | ) | 1,277 | 4,242 | (81 | ) | |||||||
|
Cash flows from investing activities: |
|||||||||||||
|
Sales of investments |
2,565 | – | 82,468 | 85,033 | |||||||||
|
Sales of divested businesses, net |
1,075 | – | (488 | ) | 587 | ||||||||
|
Purchase of investments |
(19 | ) | – | (101,136 | ) | (101,155 | ) | ||||||
|
Loans to subsidiaries – net |
3,757 | – | (3,757 | ) | – | ||||||||
|
Contributions to subsidiaries – net |
(15,973 | ) | (2 | ) | 15,975 | – | |||||||
|
Net change in restricted cash |
1,945 | – | 25,299 | 27,244 | |||||||||
|
Net change in short-term investments |
(7,130 | ) | – | 27,118 | 19,988 | ||||||||
|
Other, net |
1,543 | – | (1,270 | ) | 273 | ||||||||
|
Net cash (used in) provided by investing activities |
(12,237 | ) | (2 | ) | 44,209 | 31,970 | |||||||
|
Net cash provided by investing activities – discontinued operations |
– | – | 4,478 | 4,478 | |||||||||
|
Net cash (used in) provided by investing activities |
(12,237 | ) | (2 | ) | 48,687 | 36,448 | |||||||
|
Cash flows from financing activities: |
|||||||||||||
|
FRBNY credit facility repayments |
(14,622 | ) | – | – | (14,622 | ) | |||||||
|
Issuance of long-term debt |
2,135 | – | 5,627 | 7,762 | |||||||||
|
Repayments of long-term debt |
(6,181 | ) | – | (11,629 | ) | (17,810 | ) | ||||||
|
Proceeds from drawdown on the Department of the Treasury Commitment* |
20,292 | – | – | 20,292 | |||||||||
|
Issuance of common stock |
5,055 | – | – | 5,055 | |||||||||
|
Intercompany loans – net |
11,519 | (1,262 | ) | (10,257 | ) | – | |||||||
|
Purchase of common stock |
(70 | ) | – | – | (70 | ) | |||||||
|
Other, net |
(164 | ) | – | (35,427 | ) | (35,591 | ) | ||||||
|
Net cash (used in) provided by financing activities |
17,964 | (1,262 | ) | (51,686 | ) | (34,984 | ) | ||||||
|
Net cash (used in) financing activities – discontinued operations |
– | – | (1,942 | ) | (1,942 | ) | |||||||
|
Net cash (used in) provided by financing activities |
17,964 | (1,262 | ) | (53,628 | ) | (36,926 | ) | ||||||
|
Effect of exchange rate changes on cash |
– | – | 29 | 29 | |||||||||
|
Change in cash |
127 | 13 | (670 | ) | (530 | ) | |||||||
|
Cash at beginning of year |
49 | – | 1,509 | 1,558 | |||||||||
|
Change in cash of businesses held for sale |
– | – | 446 | 446 | |||||||||
|
Cash at end of year |
$ | 176 | $ | 13 | $ | 1,285 | $ | 1,474 | |||||
* Includes activities related to the Recapitalization. See Note 24 herein.
Supplementary Disclosure of Condensed Consolidating Cash Flow Information
| (in millions) |
American International Group, Inc. (As Guarantor) |
AIGLH |
Other Subsidiaries and Eliminations |
Consolidated AIG |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Cash (paid) received during the year ended December 31, 2013 for: |
|||||||||||||
|
Interest: |
|||||||||||||
|
Third party |
$ | (1,963 | ) | $ | (111 | ) | $ | (1,782 | ) | $ | (3,856 | ) | |
|
Intercompany |
(12 | ) | (21 | ) | 33 | – | |||||||
|
Taxes: |
|||||||||||||
|
Income tax authorities |
$ | (161 | ) | $ | – | $ | (635 | ) | $ | (796 | ) | ||
|
Intercompany |
288 | (78 | ) | (210 | ) | – | |||||||
|
Cash (paid) received during the year ended December 31, 2012 for: |
|||||||||||||
|
Interest: |
|||||||||||||
|
Third party |
$ | (2,089 | ) | $ | (128 | ) | $ | (1,820 | ) | $ | (4,037 | ) | |
|
Intercompany |
(133 | ) | (56 | ) | 189 | – | |||||||
|
Taxes: |
|||||||||||||
|
Income tax authorities |
$ | (7 | ) | $ | – | $ | (440 | ) | $ | (447 | ) | ||
|
Intercompany |
230 | (41 | ) | (189 | ) | – | |||||||
|
Cash (paid) received during the year ended December 31, 2011 for: |
|||||||||||||
|
Interest: |
|||||||||||||
|
Third party* |
$ | (6,909 | ) | $ | (128 | ) | $ | (1,948 | ) | $ | (8,985 | ) | |
|
Intercompany |
(311 | ) | (169 | ) | 480 | – | |||||||
|
Taxes: |
|||||||||||||
|
Income tax authorities |
$ | 13 | $ | – | $ | (729 | ) | $ | (716 | ) | |||
|
Intercompany |
(335 | ) | 1 | 334 | – | ||||||||
* Includes payment of FRBNY Credit Facility accrued compounded interest of $4.7 billion in the first quarter of 2011.
American International Group, Inc (As Guarantor) supplementary disclosure of non-cash activities:
| |
|
|
|
|||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Years Ended December 31, (in millions) |
2013 |
2012 |
2011 |
|||||||
|
Intercompany non-cash financing and investing activities: |
|
|
||||||||
|
Capital contributions |
|
|
||||||||
|
in the form of bond available for sale securities |
$ |
– |
$ | 4,078 | $ | – | ||||
|
to subsidiaries through forgiveness of loans |
|
341 |
– | – | ||||||
|
Return of capital and dividend received |
|
|
||||||||
|
in the form of cancellation of intercompany loan |
|
– |
9,303 | – | ||||||
|
in the form of other bond securities |
|
– |
3,320 | 3,668 | ||||||
|
Intercompany loan receivable offset by intercompany payable |
|
– |
– | 18,284 | ||||||
|
Other capital contributions – net |
|
523 |
579 | 523 | ||||||