XML 90 R25.htm IDEA: XBRL DOCUMENT v3.19.2
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT
 6 Months Ended
Jun. 30, 2019
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT  
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

16. Information Provided in Connection with Outstanding Debt

The following Condensed Consolidating Financial Statements reflect the results of Validus Holdings, Ltd. and AIG Life Holdings, Inc. (AIGLH), each a holding company and a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of the senior notes of Validus and all outstanding debt of AIGLH.

Condensed Consolidating Balance Sheets

 

 

American

 

 

 

 

 

 

 

 

 

 

 

 

International

 

Validus

 

 

 

 

 

Reclassifications

 

 

 

 

Group, Inc.

 

Holdings,

 

 

 

Other

 

and

Consolidated

(in millions)

(As Guarantor)

 

Ltd.

 

AIGLH

 

Subsidiaries

 

Eliminations

 

AIG

June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Short-term investments(a)

$

3,440

$

2

$

-

$

13,729

$

(2,155)

$

15,016

Other investments(b)

 

4,416

 

-

 

-

 

315,496

 

-

 

319,912

Total investments

 

7,856

 

2

 

-

 

329,225

 

(2,155)

 

334,928

Cash

 

20

 

-

 

1

 

2,914

 

-

 

2,935

Loans to subsidiaries(c)

 

34,906

 

-

 

-

 

639

 

(35,545)

 

-

Investment in consolidated subsidiaries(c)

 

39,943

 

3,914

 

32,505

 

-

 

(76,362)

 

-

Other assets, including deferred income taxes(d)

 

15,550

 

2,071

 

19

 

168,623

 

(1,857)

 

184,406

Total assets

$

98,275

$

5,987

$

32,525

$

501,401

$

(115,919)

$

522,269

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Insurance liabilities

$

-

$

-

$

-

$

301,226

$

-

$

301,226

Long-term debt

 

23,009

 

356

 

643

 

12,283

 

-

 

36,291

Other liabilities, including intercompany balances(b)

 

10,088

 

7

 

37

 

112,526

 

(4,011)

 

118,647

Loans from subsidiaries(c)

 

639

 

-

 

-

 

34,906

 

(35,545)

 

-

Total liabilities

 

33,736

 

363

 

680

 

460,941

 

(39,556)

 

456,164

Total AIG shareholders’ equity

 

64,539

 

5,624

 

31,845

 

38,894

 

(76,363)

 

64,539

Non-redeemable noncontrolling interests

 

-

 

-

 

-

 

1,566

 

-

 

1,566

Total equity

 

64,539

 

5,624

 

31,845

 

40,460

 

(76,363)

 

66,105

Total liabilities and equity

$

98,275

$

5,987

$

32,525

$

501,401

$

(115,919)

$

522,269

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Short-term investments(a)

$

1,141

$

2

$

-

$

10,329

$

(1,798)

$

9,674

Other investments(b)

 

3,377

 

-

 

-

 

301,158

 

-

 

304,535

Total investments

 

4,518

 

2

 

-

 

311,487

 

(1,798)

 

314,209

Cash

 

2

 

9

 

9

 

2,853

 

-

 

2,873

Loans to subsidiaries(c)

 

34,963

 

-

 

-

 

615

 

(35,578)

 

-

Investment in consolidated subsidiaries(c)

 

33,300

 

4,029

 

26,321

 

-

 

(63,650)

 

-

Other assets, including deferred income taxes(d)

 

15,389

 

1,798

 

124

 

159,430

 

(1,839)

 

174,902

Total assets

$

88,172

$

5,838

$

26,454

$

474,385

$

(102,865)

$

491,984

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Insurance liabilities

$

-

$

-

$

-

$

293,652

$

-

$

293,652

Long-term debt

 

22,422

 

359

 

643

 

11,116

 

-

 

34,540

Other liabilities, including intercompany balances(b)

 

8,774

 

228

 

144

 

100,974

 

(3,637)

 

106,483

Loans from subsidiaries(c)

 

615

 

-

 

-

 

34,963

 

(35,578)

 

-

Total liabilities

 

31,811

 

587

 

787

 

440,705

 

(39,215)

 

434,675

Total AIG shareholders’ equity

 

56,361

 

5,251

 

25,667

 

32,732

 

(63,650)

 

56,361

Non-redeemable noncontrolling interests

 

-

 

-

 

-

 

948

 

-

 

948

Total equity

 

56,361

 

5,251

 

25,667

 

33,680

 

(63,650)

 

57,309

Total liabilities and equity

$

88,172

$

5,838

$

26,454

$

474,385

$

(102,865)

$

491,984

(a)At June 30, 2019, includes restricted cash of $18 million for Other Subsidiaries. At December 31, 2018, includes restricted cash of $124 million and $18 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively.

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

(c)Eliminated in consolidation.

(d)At June 30, 2019, includes restricted cash of $1 million and $231 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively. At December 31, 2018, includes restricted cash of $1 million and $342 million for American International Group, Inc. (As Guarantor) and Other Subsidiaries, respectively.

Condensed Consolidating Statements of Income

 

 

American

 

 

 

 

 

 

 

 

 

 

 

 

International

 

Validus

 

 

 

 

 

Reclassifications

 

 

 

 

Group, Inc.

 

Holdings,

 

 

 

Other

 

and

 

Consolidated

(in millions)

 

(As Guarantor)

 

Ltd.

 

AIGLH

 

Subsidiaries

 

Eliminations

 

AIG

Three Months Ended June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of consolidated subsidiaries*

$

1,167

$

109

$

1,278

$

-

$

(2,554)

$

-

Other income

 

277

 

4

 

-

 

12,316

 

(36)

 

12,561

Total revenues

 

1,444

 

113

 

1,278

 

12,316

 

(2,590)

 

12,561

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

250

 

-

 

12

 

102

 

(4)

 

360

Loss on extinguishment of debt

 

-

 

5

 

-

 

10

 

-

 

15

Other expenses

 

180

 

4

 

1

 

10,194

 

(30)

 

10,349

Total expenses

 

430

 

9

 

13

 

10,306

 

(34)

 

10,724

Income (loss) from continuing operations before income

 

 

 

 

 

 

 

 

 

 

 

 

tax expense (benefit)

 

1,014

 

104

 

1,265

 

2,010

 

(2,556)

 

1,837

Income tax expense (benefit)

 

(95)

 

-

 

(1)

 

542

 

-

 

446

Income (loss) from continuing operations

 

1,109

 

104

 

1,266

 

1,468

 

(2,556)

 

1,391

Loss from discontinued operations,

 

 

 

 

 

 

 

 

 

 

 

 

net of income taxes

 

-

 

-

 

-

 

(1)

 

-

 

(1)

Net income (loss)

 

1,109

 

104

 

1,266

 

1,467

 

(2,556)

 

1,390

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

attributable to noncontrolling interests

 

-

 

-

 

-

 

281

 

-

 

281

Net income (loss) attributable to AIG

$

1,109

$

104

$

1,266

$

1,186

$

(2,556)

$

1,109

Three Months Ended June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of consolidated subsidiaries*

$

845

$

-

$

459

$

-

$

(1,304)

$

-

Other income

 

309

 

-

 

-

 

11,179

 

143

 

11,631

Total revenues

 

1,154

 

-

 

459

 

11,179

 

(1,161)

 

11,631

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

246

 

-

 

13

 

43

 

(3)

 

299

Loss on extinguishment of debt

 

-

 

-

 

-

 

5

 

-

 

5

Other expenses

 

359

 

-

 

-

 

9,738

 

(22)

 

10,075

Total expenses

 

605

 

-

 

13

 

9,786

 

(25)

 

10,379

Income (loss) from continuing operations before income

 

 

 

 

 

 

 

 

 

 

 

 

tax expense (benefit)

 

549

 

-

 

446

 

1,393

 

(1,136)

 

1,252

Income tax expense (benefit)

 

(389)

 

-

 

(1)

 

711

 

-

 

321

Income (loss) from continuing operations

 

938

 

-

 

447

 

682

 

(1,136)

 

931

Income (loss) from discontinued operations,

 

 

 

 

 

 

 

 

 

 

 

 

net of income taxes

 

(1)

 

-

 

-

 

1

 

-

 

-

Net income (loss)

 

937

 

-

 

447

 

683

 

(1,136)

 

931

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

attributable to noncontrolling interests

 

-

 

-

 

-

 

(6)

 

-

 

(6)

Net income (loss) attributable to AIG

$

937

$

-

$

447

$

689

$

(1,136)

$

937

 

 

American

 

 

 

 

 

 

 

 

 

 

 

 

International

 

Validus

 

 

 

 

 

Reclassifications

 

 

 

 

Group, Inc.

 

Holdings,

 

 

 

Other

 

and

 

Consolidated

(in millions)

 

(As Guarantor)

 

Ltd.

 

AIGLH

 

Subsidiaries

 

Eliminations

 

AIG

Six Months Ended June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of consolidated subsidiaries*

$

1,875

$

316

$

1,978

$

-

$

(4,169)

$

-

Other income

 

564

 

5

 

-

 

24,524

 

(76)

 

25,017

Total revenues

 

2,439

 

321

 

1,978

 

24,524

 

(4,245)

 

25,017

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

496

 

-

 

25

 

196

 

(8)

 

709

Loss on extinguishment of debt

 

-

 

9

 

-

 

4

 

-

 

13

Other expenses

 

368

 

5

 

1

 

20,998

 

(68)

 

21,304

Total expenses

 

864

 

14

 

26

 

21,198

 

(76)

 

22,026

Income (loss) from continuing operations before income

 

 

 

 

 

 

 

 

 

 

 

 

tax expense (benefit)

 

1,575

 

307

 

1,952

 

3,326

 

(4,169)

 

2,991

Income tax expense (benefit)

 

(189)

 

-

 

(2)

 

854

 

-

 

663

Income (loss) from continuing operations

 

1,764

 

307

 

1,954

 

2,472

 

(4,169)

 

2,328

Loss from discontinued operations,

 

 

 

 

 

 

 

 

 

 

 

 

net of income taxes

 

(1)

 

-

 

-

 

-

 

-

 

(1)

Net income (loss)

 

1,763

 

307

 

1,954

 

2,472

 

(4,169)

 

2,327

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

attributable to noncontrolling interests

 

-

 

-

 

-

 

564

 

-

 

564

Net income (loss) attributable to AIG

$

1,763

$

307

$

1,954

$

1,908

$

(4,169)

$

1,763

Six Months Ended June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of consolidated subsidiaries*

$

1,878

$

-

$

1,181

$

-

$

(3,059)

$

-

Other income

 

567

 

-

 

-

 

22,691

 

85

 

23,343

Total revenues

 

2,445

 

-

 

1,181

 

22,691

 

(2,974)

 

23,343

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

466

 

-

 

25

 

91

 

(6)

 

576

Loss on extinguishment of debt

 

-

 

-

 

-

 

9

 

-

 

9

Other expenses

 

511

 

-

 

1

 

19,844

 

(77)

 

20,279

Total expenses

 

977

 

-

 

26

 

19,944

 

(83)

 

20,864

Income (loss) from continuing operations before income

 

 

 

 

 

 

 

 

 

 

 

 

tax expense (benefit)

 

1,468

 

-

 

1,155

 

2,747

 

(2,891)

 

2,479

Income tax expense (benefit)

 

(408)

 

-

 

2

 

1,004

 

-

 

598

Income (loss) from continuing operations

 

1,876

 

-

 

1,153

 

1,743

 

(2,891)

 

1,881

Loss from discontinued operations,

 

 

 

 

 

 

 

 

 

 

 

 

net of income taxes

 

(1)

 

-

 

-

 

-

 

-

 

(1)

Net income (loss)

 

1,875

 

-

 

1,153

 

1,743

 

(2,891)

 

1,880

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

attributable to noncontrolling interests

 

-

 

-

 

-

 

5

 

-

 

5

Net income (loss) attributable to AIG

$

1,875

$

-

$

1,153

$

1,738

$

(2,891)

$

1,875

*Eliminated in consolidation.

Condensed Consolidating Statements of Comprehensive Income

 

 

American

 

 

 

 

 

 

 

 

 

 

 

 

 

 

International

 

Validus

 

 

 

 

 

 

 

Reclassifications

 

 

 

 

Group, Inc.

 

Holdings,

 

 

 

 

Other

 

 

and

 

Consolidated

(in millions)

 

(As Guarantor)

 

Ltd.

 

AIGLH

 

 

Subsidiaries

 

 

Eliminations

 

AIG

Three Months Ended June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

1,109

$

104

$

1,266

 

$

1,467

 

$

(2,556)

$

1,390

Other comprehensive income (loss)

 

2,863

 

-

 

2,418

 

 

7,299

 

 

(9,707)

 

2,873

Comprehensive income (loss)

 

3,972

 

104

 

3,684

 

 

8,766

 

 

(12,263)

 

4,263

Total comprehensive income attributable to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

noncontrolling interests

 

-

 

-

 

-

 

 

291

 

 

-

 

291

Comprehensive income (loss) attributable to AIG

$

3,972

$

104

$

3,684

 

$

8,475

 

$

(12,263)

$

3,972

Three Months Ended June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

937

$

-

$

447

 

$

683

 

$

(1,136)

$

931

Other comprehensive income (loss)

 

(1,990)

 

-

 

(1,510)

 

 

(651)

 

 

2,161

 

(1,990)

Comprehensive income (loss)

 

(1,053)

 

-

 

(1,063)

 

 

32

 

 

1,025

 

(1,059)

Total comprehensive loss attributable to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

noncontrolling interests

 

-

 

-

 

-

 

 

(6)

 

 

-

 

(6)

Comprehensive income (loss) attributable to AIG

$

(1,053)

$

-

$

(1,063)

 

$

38

 

$

1,025

$

(1,053)

Six Months Ended June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

1,763

$

307

$

1,954

 

$

2,472

 

$

(4,169)

$

2,327

Other comprehensive income (loss)

 

6,404

 

1

 

5,218

 

 

18,982

 

 

(24,185)

 

6,420

Comprehensive income (loss)

 

8,167

 

308

 

7,172

 

 

21,454

 

 

(28,354)

 

8,747

Total comprehensive income attributable to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

noncontrolling interests

 

-

 

-

 

-

 

 

580

 

 

-

 

580

Comprehensive income (loss) attributable to AIG

$

8,167

$

308

$

7,172

 

$

20,874

 

$

(28,354)

$

8,167

Six Months Ended June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

1,875

$

-

$

1,153

 

$

1,743

 

$

(2,891)

$

1,880

Other comprehensive income (loss)

 

(4,659)

 

-

 

(3,465)

(a)

 

20,909

(a)

 

(17,444)

 

(4,659)

Comprehensive income (loss)

 

(2,784)

 

-

 

(2,312)

 

 

22,652

 

 

(20,335)

 

(2,779)

Total comprehensive income attributable to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

noncontrolling interests

 

-

 

-

 

-

 

 

5

 

 

-

 

5

Comprehensive income (loss) attributable to AIG

$

(2,784)

$

-

$

(2,312)

 

$

22,647

 

$

(20,335)

$

(2,784)

(a)The Other comprehensive income (loss) amounts for AIGLH and Other Subsidiaries in the six months ended June 30, 2018, have been revised from $3.4 billion to $(3.5) billion and from $14.0 billion to $20.9 billion, respectively, to correct Comprehensive income (loss) in the six months ended June 30, 2018. This correction has no impact on AIG’s consolidated financial statements and is not considered material to previously issued financial statements.

Condensed Consolidating Statements of Cash Flows

 

 

American

 

 

 

 

 

 

 

 

 

 

 

 

International

 

Validus

 

 

 

 

Reclassifications

 

 

 

 

Group, Inc.

 

Holdings,

 

 

 

Other

 

and

 

Consolidated

(in millions)

(As Guarantor)

 

Ltd.

 

AIGLH

 

Subsidiaries

 

Eliminations

 

AIG

Six Months Ended June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Net cash (used in) provided by operating activities

$

1,278

$

(9)

$

982

$

(1,232)

$

(2,291)

$

(1,272)

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

Sales of investments

 

1,064

 

-

 

-

 

31,107

 

(504)

 

31,667

Sales of divested businesses, net

 

-

 

-

 

-

 

-

 

-

 

-

Purchase of investments

 

(1,408)

 

-

 

-

 

(31,062)

 

504

 

(31,966)

Loans to subsidiaries - net

 

551

 

-

 

-

 

(20)

 

(531)

 

-

Contributions from (to) subsidiaries - net

 

(319)

 

-

 

-

 

-

 

319

 

-

Acquisition of businesses, net of cash and

 

 

 

 

 

 

 

 

 

 

 

 

restricted cash acquired

 

-

 

-

 

-

 

-

 

-

 

-

Net change in short-term investments

 

(1,769)

 

-

 

-

 

(3,068)

 

-

 

(4,837)

Other, net

 

41

 

-

 

-

 

948

 

-

 

989

Net cash (used in) investing activities

 

(1,840)

 

-

 

-

 

(2,095)

 

(212)

 

(4,147)

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of long-term debt

 

595

 

-

 

-

 

1,604

 

-

 

2,199

Repayments of long-term debt

 

(6)

 

-

 

-

 

(904)

 

-

 

(910)

Issuance of preferred stock

 

485

 

-

 

-

 

-

 

-

 

485

Purchase of common stock

 

-

 

-

 

-

 

-

 

-

 

-

Intercompany loans - net

 

20

 

-

 

-

 

(551)

 

531

 

-

Cash dividends paid on preferred stock

 

(7)

 

-

 

-

 

-

 

-

 

(7)

Cash dividends paid on common stock

 

(557)

 

-

 

(990)

 

(1,301)

 

2,291

 

(557)

Other, net

 

(74)

 

-

 

-

 

4,401

 

(319)

 

4,008

Net cash (used in) provided by financing activities

 

456

 

-

 

(990)

 

3,249

 

2,503

 

5,218

Effect of exchange rate changes on cash and

 

 

 

 

 

 

 

 

 

 

 

 

restricted cash

 

-

 

-

 

-

 

28

 

-

 

28

Change in cash and restricted cash

 

(106)

 

(9)

 

(8)

 

(50)

 

-

 

(173)

Cash and restricted cash at beginning of year

 

127

 

9

 

9

 

3,213

 

-

 

3,358

Cash and restricted cash at end of period

$

21

$

-

$

1

$

3,163

$

-

$

3,185

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Net cash (used in) provided by operating activities

$

1,312

$

-

$

1,211

$

(849)

$

(2,014)

$

(340)

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

Sales of investments

 

3,800

 

-

 

-

 

29,992

 

(2,628)

 

31,164

Sales of divested businesses, net

 

-

 

-

 

-

 

10

 

-

 

10

Purchase of investments

 

(1,327)

 

-

 

-

 

(29,805)

 

2,628

 

(28,504)

Loans to subsidiaries - net

 

422

 

-

 

-

 

(25)

 

(397)

 

-

Contributions from (to) subsidiaries - net

 

57

 

-

 

-

 

-

 

(57)

 

-

Net change in short-term investments

 

(4,017)

 

-

 

-

 

177

 

-

 

(3,840)

Other, net

 

(51)

 

-

 

-

 

(249)

 

-

 

(300)

Net cash (used in) provided by investing activities

 

(1,116)

 

-

 

-

 

100

 

(454)

 

(1,470)

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of long-term debt

 

2,472

 

-

 

-

 

1,032

 

-

 

3,504

Repayments of long-term debt

 

(1,313)

 

-

 

-

 

(646)

 

-

 

(1,959)

Purchase of common stock

 

(646)

 

-

 

-

 

-

 

-

 

(646)

Intercompany loans - net

 

25

 

-

 

-

 

(422)

 

397

 

-

Cash dividends paid on common stock

 

(575)

 

-

 

(1,228)

 

(786)

 

2,014

 

(575)

Other, net

 

(162)

 

-

 

-

 

1,204

 

57

 

1,099

Net cash (used in) provided by financing activities

 

(199)

 

-

 

(1,228)

 

382

 

2,468

 

1,423

Effect of exchange rate changes on cash and

 

 

 

 

 

 

 

 

 

 

 

 

restricted cash

 

-

 

-

 

-

 

30

 

-

 

30

Change in cash and restricted cash

 

(3)

 

-

 

(17)

 

(337)

 

-

 

(357)

Cash and restricted cash at beginning of year

 

8

 

-

 

20

 

2,709

 

-

 

2,737

Cash and restricted cash at end of period

$

5

$

-

$

3

$

2,372

$

-

$

2,380

Supplementary Disclosure of Condensed Consolidating Cash Flow Information

 

 

American

 

 

 

 

 

 

 

 

 

 

 

 

International

 

Validus

 

 

 

 

Reclassifications

 

 

 

 

Group, Inc.

 

Holdings,

 

 

 

Other

 

and

 

Consolidated

(in millions)

(As Guarantor)

 

Ltd.

 

AIGLH

 

Subsidiaries

 

Eliminations

 

AIG

June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Cash

$

20

$

-

$

1

$

2,914

$

-

$

2,935

Restricted cash included in Short-term investments

 

-

 

-

 

-

 

18

 

-

 

18

Restricted cash included in Other assets

 

1

 

-

 

-

 

231

 

-

 

232

Total cash and restricted cash shown in the Condensed

 

 

 

 

 

 

 

 

 

 

 

 

Consolidating Statements of Cash Flows

$

21

$

-

$

1

$

3,163

$

-

$

3,185

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash (paid) received during the 2019 period for:

 

 

 

 

 

 

 

 

 

 

 

 

Interest:

 

 

 

 

 

 

 

 

 

 

 

 

Third party

$

(497)

$

(11)

$

(25)

$

(151)

$

-

$

(684)

Intercompany

 

(1)

 

-

 

-

 

1

 

-

 

-

Taxes:

 

 

 

 

 

 

 

 

 

 

 

 

Income tax authorities

$

(10)

$

-

$

-

$

(130)

$

-

$

(140)

Intercompany

 

695

 

-

 

-

 

(695)

 

-

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Cash

$

3

$

-

$

3

$

2,129

$

-

$

2,135

Restricted cash included in Short-term investments

 

1

 

-

 

-

 

17

 

-

 

18

Restricted cash included in Other assets

 

1

 

-

 

-

 

226

 

-

 

227

Total cash and restricted cash shown in the Condensed

 

 

 

 

 

 

 

 

 

 

 

 

Consolidating Statements of Cash Flows

$

5

$

-

$

3

$

2,372

$

-

$

2,380

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash (paid) received during the 2018 period for:

 

 

 

 

 

 

 

 

 

 

 

 

Interest:

 

 

 

 

 

 

 

 

 

 

 

 

Third party

$

(478)

$

-

$

(23)

$

(163)

$

-

$

(664)

Intercompany

 

(1)

 

-

 

(1)

 

2

 

-

 

-

Taxes:

 

 

 

 

 

 

 

 

 

 

 

 

Income tax authorities

$

(17)

$

-

$

-

$

(23)

$

-

$

(40)

Intercompany

 

846

 

-

 

-

 

(846)

 

-

 

-

American International Group, Inc. (As Guarantor) Supplementary Disclosure of Non-Cash Activities:

Six Months Ended June 30,

 

 

 

 

(in millions)

 

2019

 

2018

Intercompany non-cash financing and investing activities:

 

 

 

 

Capital contributions

$

15

$

2,339

Dividends received in the form of securities

 

624

 

60

Return of capital

 

15

 

2,706