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INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT
 12 Months Ended
Dec. 31, 2016
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT  
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

25. 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

American
International Reclassifications
Group, Inc. OtherandConsolidated
(in millions)(As Guarantor)AIGLHSubsidiariesEliminationsAIG
December 31, 2016
Assets:
Short-term investments$4,424$-$13,218$(5,340)$12,302
Other investments(a)7,154-308,719-315,873
Total investments11,578-321,937(5,340)328,175
Cash2341,832-1,868
Loans to subsidiaries(b)34,692-576(35,268)-
Investment in consolidated subsidiaries(b)42,58227,309-(69,891)-
Other assets, including deferred income taxes24,099239140,743(4,059)161,022
Assets held for sale--7,199-7,199
Total assets$112,953$27,582$472,287$(114,558)$498,264
Liabilities:
Insurance liabilities$-$-$275,120$-$275,120
Long-term debt21,4056428,865-30,912
Other liabilities, including intercompany balances(a)14,671194103,975(9,572)109,268
Loans from subsidiaries(b)577-34,691(35,268)-
Liabilities held for sale--6,106-6,106
Total liabilities36,653836428,757(44,840)421,406
Total AIG shareholders’ equity76,30026,74642,972(69,718)76,300
Non-redeemable noncontrolling interests--558-558
Total equity76,30026,74643,530(69,718)76,858
Total liabilities and equity$112,953$27,582$472,287$(114,558)$498,264
December 31, 2015
Assets:
Short-term investments$4,042$-$9,637$(3,547)$10,132
Other investments(a)7,425-320,797-328,222
Total investments11,467-330,434(3,547)338,354
Cash341161,479-1,629
Loans to subsidiaries(b)35,927-578(36,505)-
Investment in consolidated subsidiaries(b)51,15130,239-(81,390)-
Other assets, including deferred income taxes23,299258135,690(2,388)156,859
Total assets$121,878$30,613$468,181$(123,830)$496,842
Liabilities:
Insurance liabilities$-$-$271,645$-$271,645
Long-term debt19,7777048,768-29,249
Other liabilities, including intercompany balances(a)11,86920199,777(6,109)105,738
Loans from subsidiaries(b)574335,928(36,505)-
Total liabilities32,220908416,118(42,614)406,632
Total AIG shareholders’ equity89,65829,70551,511(81,216)89,658
Non-redeemable noncontrolling interests--552-552
Total equity89,65829,70552,063(81,216)90,210
Total liabilities and equity$121,878$30,613$468,181$(123,830)$496,842

(a) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment.

(b) Eliminated in consolidation.

Condensed Consolidating Statements of Income (Loss)

American
International Reclassifications
Group, Inc. OtherandConsolidated
(in millions)(As Guarantor)AIGLHSubsidiariesEliminationsAIG
Year Ended December 31, 2016
Revenues:
Equity in earnings of consolidated subsidiaries*$(1,269)$(197)$-$1,466$-
Other income516552,875(1,029)52,367
Total revenues(753)(192)52,87543752,367
Expenses:
Interest expense98851227(6)1,260
Loss on extinguishment of debt77-(3)-74
Other expenses2951651,819(1,023)51,107
Total expenses1,3606752,043(1,029)52,441
Income (loss) from continuing operations before income tax
expense (benefit)(2,113)(259)8321,466(74)
Income tax expense (benefit)(1,301)(21)1,507-185
Income (loss) from continuing operations(812)(238)(675)1,466(259)
Loss from discontinued operations, net of income taxes(37)-(53)-(90)
Net income (loss)(849)(238)(728)1,466(349)
Less:
Net income from continuing operations attributable to
noncontrolling interests--500-500
Net income (loss) attributable to AIG$(849)$(238)$(1,228)$1,466$(849)
Year Ended December 31, 2015
Revenues:
Equity in earnings of consolidated subsidiaries*$3,954$1,936$-$(5,890)$-
Other income88-58,953(714)58,327
Total revenues4,0421,93658,953(6,604)58,327
Expenses:
Interest expense1,04958302(128)1,281
Loss on extinguishment of debt703-467756
Other expenses1,1784452,374(587)53,009
Total expenses2,93010252,722(708)55,046
Income (loss) from continuing operations before income tax
expense (benefit)1,1121,8346,231(5,896)3,281
Income tax expense (benefit)(1,086)(73)2,218-1,059
Income (loss) from continuing operations2,1981,9074,013(5,896)2,222
Income (loss) from discontinued operations, net of income taxes(2)-2--
Net income (loss)2,1961,9074,015(5,896)2,222
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests--26-26
Net income (loss) attributable to AIG$2,196$1,907$3,989$(5,896)$2,196

Year Ended December 31, 2014
Revenues:
Equity in earnings of consolidated subsidiaries*$9,450$3,519$-$(12,969)$-
Other income1,658-63,157(409)64,406
Total revenues11,1083,51963,157(13,378)64,406
Expenses:
Other interest expense1,507100243(132)1,718
Loss on extinguishment of debt2,248-85(51)2,282
Other expenses1,54620348,315(159)49,905
Total expenses5,30130348,643(342)53,905
Income (loss) from continuing operations before income tax
expense (benefit)5,8073,21614,514(13,036)10,501
Income tax expense (benefit)(1,735)(103)4,817(52)2,927
Income (loss) from continuing operations7,5423,3199,697(12,984)7,574
Loss from discontinued operations, net of income taxes(13)-(37)-(50)
Net income (loss)7,5293,3199,660(12,984)7,524
Less:
Net loss from continuing operations attributable to
noncontrolling interests--(5)-(5)
Net income (loss) attributable to AIG$7,529$3,319$9,665$(12,984)$7,529

* Eliminated in consolidation.

Condensed Consolidating Statements of Comprehensive Income (Loss)

American
InternationalReclassifications
Group, Inc.OtherandConsolidated
(in millions)(As Guarantor)AIGLHSubsidiariesEliminationsAIG
Year Ended December 31, 2016
Net income (loss)$(849)$(238)$(728)$1,466$(349)
Other comprehensive income (loss)6934,08052,153(56,233)693
Comprehensive income (loss)(156)3,84251,425(54,767)344
Total comprehensive income attributable to noncontrolling interests--500-500
Comprehensive income (loss) attributable to AIG$(156)$3,842$50,925$(54,767)$(156)
Year Ended December 31, 2015
Net income (loss)$2,196$1,907$4,015$(5,896)$2,222
Other comprehensive income (loss)(8,080)2,32054,757(57,083)(8,086)
Comprehensive income (loss)(5,884)4,22758,772(62,979)(5,864)
Total comprehensive income attributable to noncontrolling interests--20-20
Comprehensive income (loss) attributable to AIG$(5,884)$4,227$58,752$(62,979)$(5,884)
Year Ended December 31, 2014
Net income (loss)$7,529$3,319$9,660$(12,984)$7,524
Other comprehensive income (loss)4,2572,7943,235(6,029)4,257
Comprehensive income (loss)11,7866,11312,895(19,013)11,781
Total comprehensive loss attributable to noncontrolling interests--(5)-(5)
Comprehensive income (loss) attributable to AIG$11,786$6,113$12,900$(19,013)$11,786

Condensed Consolidating Statements of Cash Flows

American
International Reclassifications
Group, Inc. Other andConsolidated
(in millions)(As Guarantor)AIGLHSubsidiariesEliminationsAIG
Year Ended December 31, 2016
Net cash (used in) provided by operating activities$2,112$1,707$2,515$(3,951)$2,383
Cash flows from investing activities:
Sales of investments5,769-81,560(11,685)75,644
Sales of divested businesses, net2,160-649-2,809
Purchase of investments(1,002)-(80,668)11,685(69,985)
Loans to subsidiaries – net1,525-(3)(1,522)-
Contributions from (to) subsidiaries - net1,637--(1,637)-
Net change in restricted cash--385-385
Net change in short-term investments(789)-(2,300)-(3,089)
Other, net(141)-(879)-(1,020)
Net cash (used in) provided by investing activities9,159-(1,256)(3,159)4,744
Cash flows from financing activities:
Issuance of long-term debt3,831-2,123-5,954
Repayments of long-term debt(1,996)(63)(2,023)-(4,082)
Purchase of Common Stock(11,460)---(11,460)
Intercompany loans - net3(3)(1,522)1,522-
Cash dividends paid (1,372)(1,723)(2,228)3,951(1,372)
Other, net(309)-2,7991,6374,127
Net cash (used in) financing activities(11,303)(1,789)(851)7,110(6,833)
Effect of exchange rate changes on cash--52-52
Change in cash(32)(82)460-346
Cash at beginning of year341161,479-1,629
Change in cash of businesses held for sale--(107)-(107)
Cash at end of year$2$34$1,832$-$1,868
Year Ended December 31, 2015
Net cash (used in) provided by operating activities$4,443$2,314$1,112$(4,992)$2,877
Cash flows from investing activities:
Sales of investments7,767-69,726(4,877)72,616
Purchase of investments(1,881)-(68,261)4,877(65,265)
Loans to subsidiaries – net(83)-367(284)-
Contributions from (to) subsidiaries - net565--(565)-
Net change in restricted cash--1,457-1,457
Net change in short-term investments2,300-(1,137)-1,163
Other, net(175)-(1,334)-(1,509)
Net cash (used in) provided by investing activities8,493-818(849)8,462
Cash flows from financing activities:
Issuance of long-term debt5,540-1,327-6,867
Repayments of long-term debt(6,504)(114)(3,187)-(9,805)
Intercompany loans - net(201)3(86)284-
Purchase of common stock(10,691)---(10,691)
Cash dividends paid(1,028)(2,178)(2,814)4,992(1,028)
Other, net(44)-2,7075653,228
Net cash (used in) provided by financing activities(12,928)(2,289)(2,053)5,841(11,429)
Effect of exchange rate changes on cash--(39)-(39)
Change in cash825(162)-(129)
Cash at beginning of year26911,641-1,758
Change in cash of businesses held for sale-----
Cash at end of year$34$116$1,479$-$1,629
Year Ended December 31, 2014
Net cash (used in) provided by operating activities$9,316$6,155$8,979$(19,443)$5,007
Cash flows from investing activities:
Sales of investments3,036-65,108(2,040)66,104
Purchase of investments(1,051)-(59,099)2,040(58,110)
Loans to subsidiaries – net446-169(615)-
Contributions to subsidiaries(148)-296(148)-
Net change in restricted cash(501)-(946)-(1,447)
Net change in short-term investments5,792-2,968-8,760
Other, net(141)-(882)-(1,023)
Net cash (used in) provided by investing activities7,433-7,614(763)14,284
Cash flows from financing activities:
Issuance of long-term debt3,247-3,440-6,687
Repayments of long-term debt(14,468)(477)(1,215)-(16,160)
Intercompany loans - net110(280)(445)615-
Purchase of common stock(4,902)---(4,902)
Cash dividends paid to shareholders(712)(5,358)(14,085)19,443(712)
Other, net(28)-(4,821)148(4,701)
Net cash (used in) provided by financing activities(16,753)(6,115)(17,126)20,206(19,788)
Effect of exchange rate changes on cash--(74)-(74)
Change in cash(4)40(607)-(571)
Cash at beginning of year30512,160-2,241
Change in cash of businesses held for sale--88-88
Cash at end of year$26$91$1,641$-$1,758

Supplementary Disclosure of Condensed Consolidating Cash Flow Information

American
InternationalReclassifications
Group, Inc.OtherandConsolidated
(in millions)(As Guarantor)AIGLHSubsidiariesEliminationsAIG
Cash (paid) received during the year ended December 31, 2016 for:
Interest:
Third party$(975)$(52)$(304)$-$(1,331)
Intercompany2-(2)--
Taxes:
Income tax authorities$(15)$-$(478)$-$(493)
Intercompany479-(479)--
Cash (paid) received during the year ended December 31, 2015 for:
Interest:
Third party$(1,030)$(59)$(279)$-$(1,368)
Intercompany-----
Taxes:
Income tax authorities$(11)$-$(500)$-$(511)
Intercompany829-(829)--
Cash (paid) received during the year ended December 31, 2014 for:
Interest:
Third party*$(1,624)$(87)$(1,656)$-$(3,367)
Intercompany5(7)2--
Taxes:
Income tax authorities$(18)$-$(719)$-$(737)
Intercompany1,172-(1,172)--

American International Group, Inc. (As Guarantor) supplementary disclosure of non-cash activities:

Years Ended December 31,
(in millions)201620152014
Intercompany non-cash financing and investing activities:
Capital contributions$3,245$494$2,457
Dividends received in the form of securities5,2342,3263,088
Return of capital*--4,836
Fixed maturity securities received in exchange for equity securities440--
Non-cash financing/investing activities:
Non-cash consideration received from sale of shares of AerCap-500-
Non-cash consideration received from sale of UGC1,101--

* Includes $4.8 billion return of capital from AIG Capital Corporation related to the sale of ILFC.