XML 84 R58.htm IDEA: XBRL DOCUMENT v3.24.0.1
Equity (Tables)
12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Rollforward of Common Stock Outstanding
The following table presents a rollforward of outstanding shares:
Years Ended December 31,202320222021
(in millions)Common
Stock Issued
Treasury
Stock
Common Stock
Outstanding
Common
Stock Issued
Treasury
Stock
Common Stock
Outstanding
Common
Stock Issued
Treasury
Stock
Common Stock
Outstanding
Shares, beginning of year1,906.7 (1,172.6)734.1 1,906.7 (1,088.0)818.7 1,906.7 (1,045.1)861.6 
Shares issued 5.5 5.5 — 5.5 5.5 — 6.8 6.8 
Shares repurchased (50.8)(50.8)— (90.1)(90.1)— (49.7)(49.7)
Shares, end of year1,906.7 (1,217.9)688.8 1,906.7 (1,172.6)734.1 1,906.7 (1,088.0)818.7 
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, January 1, 2021, net of tax$(95)$17,093 $— $— $(2,267)$(1,228)$$13,511 
Cumulative effect of change in accounting principle, net of tax— 3,407 (1,839)(3,765)— — — (2,197)
Change in unrealized appreciation (depreciation) of investments58 (9,313)— — — — — (9,255)
Change in other(3)(25)— — — — — (28)
Change in fair value of market risk benefits, net— — 227 — — — — 227 
Change in discount rates— — — 1,717 — — — 1,717 
Change in future policy benefits— 380 — — — — — 380 
Change in foreign currency translation adjustments— — — — (108)— — (108)
Change in net actuarial loss— — — — — 417 — 417 
Change in prior service cost— — — — — — 
Change in deferred tax asset (liability)(11)1,807 (48)(356)(72)(100)— 1,220 
Change in fair value of liabilities under fair value option attributable to changes in own credit risk— — — — — — (2)(2)
Total other comprehensive income (loss)44 (7,151)179 1,361 (180)325 (2)(5,424)
Corebridge noncontrolling interests(1,333)171 243 (2)— — (918)
Noncontrolling interests— (109)(3)— — (99)
Balance, December 31, 2021, net of tax$(48)$12,125 $(1,496)$(2,167)$(2,446)$(903)$$5,071 
Change in unrealized appreciation (depreciation) of investments(119)(47,647)— — — — — (47,766)
Change in other— (12)— — — — — (12)
Change in fair value of market risk benefits, net— — 1,635 — — — — 1,635 
Change in discount rates— — — 6,993 — — — 6,993 
Change in future policy benefits— 1,805 — — — — — 1,805 
Change in foreign currency translation adjustments— — — — (593)— — (593)
Change in net actuarial loss— — — — — (31)— (31)
Change in prior service cost— — — — — — 
Change in deferred tax asset (liability)25 7,446 (341)(1,449)(20)— 5,664 
Change in fair value of liabilities under fair value option attributable to changes in our own credit risk— — — — — — (6)(6)
Total other comprehensive loss(94)(38,408)1,294 5,544 (613)(20)(6)(32,303)
Corebridge noncontrolling interests— 2,485 11 (393)14 (1)— 2,116 
Noncontrolling interests(6)(3,123)93 525 11 — — (2,500)
Balance, December 31, 2022, net of tax$(136)$(20,675)$(284)$2,459 $(3,056)$(924)$ $(22,616)
Change in unrealized appreciation (depreciation) of investments*
30 8,410      8,440 
Change in other(10)52      42 
Change in fair value of market risk benefits, net  (695)    (695)
Change in discount rates   (1,045)   (1,045)
Change in future policy benefits (254)     (254)
Change in foreign currency translation adjustments    137   137 
Change in net actuarial loss     143  143 
Change in prior service cost     4  4 
Change in deferred tax asset (liability)(6)(1,074)151 174 (35)(42) (832)
Total other comprehensive income14 7,134 (544)(871)102 105  5,940 
Corebridge noncontrolling interests13 4,524 153 (732)(18)(2) 3,938 
Noncontrolling interests(3)1,871 (199)(377)7   1,299 
Balance, December 31, 2023, net of tax$(106)$(10,888)$(476)$1,233 $(2,979)$(821)$ $(14,037)
*Includes net unrealized gains and losses attributable to businesses held for sale at December 31, 2023.
Schedule of Other Comprehensive Income (Loss) Reclassification Adjustments
The following table presents the other comprehensive income (loss) reclassification adjustments for the years ended December 31, 2023 and 2022, respectively:
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken
Unrealized
Appreciation
(Depreciation)
of All Other
Investments
Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in Our
Own Credit Risk
Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts
Foreign
Currency
Translation
Adjustments
Retirement
Plan
Liabilities
Adjustment
Fair Value of
Liabilities
Under Fair
Value Option
Attributable to
Changes in Our
Own Credit Risk
Total
Year Ended December 31, 2023
Unrealized change arising during period$(6)$7,172 $(695)$(1,045)$137 $118 $ $5,681 
Less: Reclassification adjustments included in net income(26)(1,036)   (29) (1,091)
Total other comprehensive income (loss), before of income tax expense (benefit)20 8,208 (695)(1,045)137 147  6,772 
Less: Income tax expense (benefit)6 1,074 (151)(174)35 42  832 
Total other comprehensive income (loss), net of income tax expense (benefit)$14 $7,134 $(544)$(871)$102 $105 $ $5,940 
Year Ended December 31, 2022
Unrealized change arising during period$(112)$(47,043)$1,635 $6,993 $(593)$(53)$(6)$(39,179)
Less: Reclassification adjustments included in net income(1,189)— — — (30)— (1,212)
Total other comprehensive income (loss), before income tax expense (benefit)(119)(45,854)1,635 6,993 (593)(23)(6)(37,967)
Less: Income tax expense (benefit)(25)(7,446)341 1,449 20 (3)— (5,664)
Total other comprehensive income (loss), net of income tax expense (benefit)$(94)$(38,408)$1,294 $5,544 $(613)$(20)$(6)$(32,303)
Year Ended December 31, 2021
Unrealized change arising during period$55 $(8,030)$227 $1,717 $(108)$379 $(2)$(5,762)
Less: Reclassification adjustments included in net income— 928 — — — (46)— 882 
Total other comprehensive income (loss), before income tax expense (benefit)55 (8,958)227 1,717 (108)425 (2)(6,644)
Less: Income tax expense (benefit)11 (1,807)48 356 72 100 — (1,220)
Total other comprehensive income (loss), net of income tax expense (benefit)$44 $(7,151)$179 $1,361 $(180)$325 $(2)$(5,424)
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 Consolidated Statements of Income (Loss)(a):
Amount Reclassified from AOCIAffected Line Item in the
Years Ended December 31,Consolidated
(in millions)202320222021Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$(26)$$— Net realized gains (losses)
Total(26)— 
Unrealized appreciation (depreciation) of all other investments
Investments(1,036)(1,189)928 Net realized gains (losses)
Total(1,036)(1,189)928 
Change in retirement plan liabilities adjustment
Prior-service credit(2)(2)(3)
(b)
Actuarial losses(27)(28)(43)
(b)
Total(29)(30)(46)
Total reclassifications for the period$(1,091)$(1,212)$882 
(a)The following items are not reclassified out of AOCI and included in the 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. For additional information, see Note 22.
Schedule of Change in Ownership
The following table presents the effect of changes in our ownership interest in Corebridge on our equity:
Years Ended December 31,
(in millions)
202320222021
Net income attributable to AIG common shareholders$3,614 $10,198 $10,338 
Changes in AIG equity for sale of interest in Corebridge and Corebridge share repurchases
145 497 (630)
Change from Net income attributable to AIG common shareholders and changes in AIG's ownership interests
$3,759 $10,695 $9,708