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Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Premiums $ 7,244 $ 7,828 $ 24,782 $ 22,460
Policy fees 702 735 2,094 2,193
Total net investment income 3,556 2,668 10,660 8,509
Total net realized gains (losses) 1,081 2,572 (1,125) 8,783
Other income 191 195 565 660
Total revenues 12,774 13,998 36,976 42,605
Benefits, losses and expenses:        
Policyholder benefits and losses incurred (including remeasurement (gains) losses of $35 and $17 for the three months ended September 30, 2023 and 2022, respectively; $192 and $244 for the nine months ended September 30, 2023 and 2022, respectively) 4,982 6,049 18,237 16,093
Change in the fair value of market risk benefits, net (418) (435) (484) (713)
Interest credited to policyholder account balances 1,135 959 3,237 2,749
Amortization of deferred policy acquisition costs 1,190 1,170 3,673 3,423
General operating and other expenses 2,117 2,075 6,365 6,445
Interest expense 280 282 865 811
Gain (loss) on extinguishment of debt 21 0 21 299
Net (gain) loss on divestitures and other (101) (6) (142) (45)
Total benefits, losses and expenses 9,206 10,094 31,772 29,062
Income (loss) from continuing operations before income tax expense (benefit) 3,568 3,904 5,204 13,543
Income tax expense (benefit) 821 817 853 2,816
Income (loss) from continuing operations 2,747 3,087 4,351 10,727
Income (loss) from discontinued operations, net of income tax expense 0 0 0 (1)
Net income (loss) 2,747 3,087 4,351 10,726
Less:        
Net income (loss) from continuing operations attributable to noncontrolling interests 720 339 801 1,051
Net income (loss) attributable to AIG 2,027 2,748 3,550 9,675
Less: Dividends on preferred stock 7 7 22 22
Net income attributable to AIG common shareholders $ 2,020 $ 2,741 $ 3,528 $ 9,653
Basic:        
Income (loss) from continuing operations (in dollars per share) $ 2.83 $ 3.59 $ 4.86 $ 12.22
Income from discontinued operations (in dollars per share) 0 0 0 0
Net income (loss) attributable to AIG common shareholders (in dollars per share) 2.83 3.59 4.86 12.22
Diluted:        
Income (loss) from continuing operations (in dollars per share) 2.81 3.55 4.83 12.08
Income from discontinued operations (in dollars per share) 0 0 0 0
Net income attributable to AIG common shareholders (in dollars per share) $ 2.81 $ 3.55 $ 4.83 $ 12.08
Weighted average shares outstanding:        
Basic (in shares) 712,598,496 763,051,482 725,579,999 789,888,322
Diluted (in shares) 718,727,312 771,132,401 731,033,045 799,092,556
Excluding Fortitude Re Funds Withheld Assets        
Revenues:        
Total net investment income $ 3,292 $ 2,513 $ 9,659 $ 7,875
Total net realized gains (losses) 171 901 (881) 1,244
Fortitude Re funds withheld assets        
Revenues:        
Total net investment income 264 155 1,001 634
Total net realized gains (losses) (227) (86) (396) (312)
Fortitude Re funds withheld embedded derivative        
Revenues:        
Total net realized gains (losses) $ 1,137 $ 1,757 $ 152 $ 7,851