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Equity (Tables)
9 Months Ended
Sep. 30, 2023
Stockholders' Equity Note [Abstract]  
Rollforward of Common Stock Outstanding
The following table presents a rollforward of outstanding shares:
Nine Months Ended September 30, 2023
Common
Stock Issued
Treasury
Stock
Common Stock
Outstanding
(in millions)
Shares, beginning of year1,906.7 (1,172.6)734.1 
Shares issued 5.1 5.1 
Shares repurchased (34.6)(34.6)
Shares, end of period1,906.7 (1,202.1)704.6 
Schedule of Accumulated Other Comprehensive Income (Loss) The following table presents a rollforward of Accumulated other comprehensive income (loss):
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken
Unrealized
Appreciation
(Depreciation)
of All Other
Investments
Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in
Our Own
Credit Risk
Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts
Foreign
Currency
Translation
Adjustments
Retirement
Plan
Liabilities
Adjustment
Fair Value of
Liabilities
Under Fair
Value Option
Attributable to
Changes in Our
Own Credit Risk
Total
Balance, June 30, 2023, net of tax$(60)$(16,655)$(315)$2,067 $(3,174)$(845)$ $(18,982)
Change in unrealized appreciation (depreciation) of investments*
(69)(7,025)     (7,094)
Change in other(11)17      6 
Change in fair value of market risk benefits, net  (104)    (104)
Change in discount rates   1,470    1,470 
Change in future policy benefits
 173      173 
Change in foreign currency translation adjustments
    (279)  (279)
Change in net actuarial loss
     62  62 
Change in prior service cost
     1  1 
Change in deferred tax asset (liability)
14 1,141 23 (323)10 (18) 847 
Total other comprehensive income (loss)(66)(5,694)(81)1,147 (269)45  (4,918)
Other changes in AOCI:
Corebridge noncontrolling interests(1)(72)(2)14    (61)
Noncontrolling interests(17)(1,760)(29)387 (13)  (1,432)
Balance, September 30, 2023, net of tax$(110)$(20,661)$(369)$2,841 $(3,430)$(800)$ $(22,529)
Balance, June 30, 2022, net of tax$(56)$(16,248)$(267)$1,590 $(2,790)$(878)$$(18,647)
Change in unrealized appreciation (depreciation) of investments
(94)(12,040)— — — — — (12,134)
Change in other— 38 — — — — — 38 
Change in fair value of market risk benefits, net— — 320 — — — — 320 
Change in discount rates— — — 2,168 — — — 2,168 
Change in future policy benefits
— 450 — — — — — 450 
Change in foreign currency translation adjustments
— — — — (748)— — (748)
Change in net actuarial loss
— — — — — 15 — 15 
Change in prior service cost
— — — — — — 
Change in deferred tax asset (liability)
20 2,048 (67)(443)27 (3)— 1,582 
Total other comprehensive income (loss)(74)(9,504)253 1,725 (721)15 — (8,306)
Other changes in AOCI:
Corebridge noncontrolling interests— 2,485 11 (393)14 (1)— 2,116 
Noncontrolling interests(6)(923)30 200 (18)— — (717)
Balance, September 30, 2022, net of tax$(124)$(22,344)$(33)$2,722 $(3,479)$(864)$$(24,120)
*Includes net unrealized gains and losses attributable to businesses held for sale at September 30, 2023.
Schedule of Other Comprehensive Income (Loss) Reclassification Adjustments
The following table presents the other comprehensive income (loss) reclassification adjustments for the three and nine months ended September 30, 2023 and 2022, respectively:
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken
Unrealized
Appreciation
(Depreciation)
of All Other
Investments
Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in Our
Own Credit Risk
Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts
Foreign
Currency
Translation
Adjustments
Retirement
Plan
Liabilities
Adjustment
Fair Value of
Liabilities
Under Fair
Value Option
Attributable to
Changes in Our
Own Credit Risk
Total
Three Months Ended September 30, 2023
Unrealized change arising during period$(80)$(6,998)$(104)$1,470 $(279)$57 $ $(5,934)
Less: Reclassification adjustments included in net income (163)   (6) (169)
Total other comprehensive income (loss), before income tax expense (benefit)(80)(6,835)(104)1,470 (279)63  (5,765)
Less: Income tax expense (benefit)(14)(1,141)(23)323 (10)18  (847)
Total other comprehensive income (loss), net of income tax expense (benefit)$(66)$(5,694)$(81)$1,147 $(269)$45 $ $(4,918)
Three Months Ended September 30, 2022
Unrealized change arising during period$(77)$(11,700)$320 $2,168 $(748)$10 $— $(10,027)
Less: Reclassification adjustments included in net income17 (148)— — — (8)— (139)
Total other comprehensive income (loss), before income tax expense (benefit)(94)(11,552)320 2,168 (748)18 — (9,888)
Less: Income tax expense (benefit)(20)(2,048)67 443 (27)— (1,582)
Total other comprehensive income (loss), net of income tax expense (benefit)$(74)$(9,504)$253 $1,725 $(721)$15 $— $(8,306)
Nine Months Ended September 30, 2023
Unrealized change arising during period$10 $(5,171)$(250)$1,474 $(323)$147 $ $(4,113)
Less: Reclassification adjustments included in net income(23)(933)   (23) (979)
Total other comprehensive income (loss), before of income tax expense (benefit)33 (4,238)(250)1,474 (323)170  (3,134)
Less: Income tax expense (benefit)9 (798)(54)374 33 45  (391)
Total other comprehensive income (loss), net of income tax expense (benefit)$24 $(3,440)$(196)$1,100 $(356)$125 $ $(2,743)
Nine Months Ended September 30, 2022
Unrealized change arising during period$(98)$(49,047)$2,048 $7,403 $(1,024)$16 $(4)$(40,706)
Less: Reclassification adjustments included in net income(883)— — — (23)— (897)
Total other comprehensive income (loss), before income tax expense (benefit)(107)(48,164)2,048 7,403 (1,024)39 (4)(39,809)
Less: Income tax expense (benefit)(24)(7,737)431 1,518 38 (1)— (5,775)
Total other comprehensive income (loss), net of income tax expense (benefit)$(83)$(40,427)$1,617 $5,885 $(1,062)$40 $(4)$(34,034)
Schedule of Effect of the Reclassification of Significant Items out of Accumulated Other Comprehensive Income on the Respective Line Items in the Consolidated Statements of Income
The following table presents the effect of the reclassification of significant items out of AOCI on the respective line items in the Condensed Consolidated Statements of Income (Loss)(a):
Amount Reclassified from AOCIAffected Line Item in the
Three Months Ended September 30,Condensed Consolidated
(in millions)20232022Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$ $17 Net realized gains (losses)
Total 17 
Unrealized appreciation (depreciation) of all other investments
Investments(163)(148)Net realized gains (losses)
Total(163)(148)
Change in retirement plan liabilities adjustment
Prior-service credit(1)(1)
(b)
Actuarial losses(5)(7)
(b)
Total(6)(8)
Total reclassifications for the period$(169)$(139)
Amount Reclassified from AOCIAffected Line Item in the
Nine Months Ended September 30,Condensed Consolidated
(in millions)20232022Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$(23)$Net realized gains (losses)
Total(23)
Unrealized appreciation (depreciation) of all other investments
Investments(933)(883)Net realized gains (losses)
Total(933)(883)
Change in retirement plan liabilities adjustment
Prior-service credit(2)(2)
(b)
Actuarial losses(21)(21)
(b)
Total(23)(23)
Total reclassifications for the period$(979)$(897)
(a)The following items are not reclassified out of AOCI and included in the Condensed Consolidated Statements of Income (Loss) and thus have been excluded from the table: (a) Change in fair value of market risk benefits attributable to changes in our own credit risk (b) Change in the discount rates used to measure traditional and limited-payment long-duration insurance contracts, and (c) Fair value of liabilities under fair value option attributable to changes in own credit risk.
(b)These AOCI components are included in the computation of net periodic pension cost.
Schedule of Change in Ownership
The following table presents the effect of changes in our ownership interest in Corebridge on our equity:
(in millions)
Three Months Ended
September 30, 2023
Nine Months Ended
September 30, 2023
Net income attributable to AIG common shareholders$2,020 $3,528 
Changes in AIG equity for sale of interest in Corebridge and Corebridge share repurchases
(6)(92)
Change from Net income attributable to AIG common shareholders and changes in AIG's ownership interests
$2,014 $3,436