Information Provided in Connection With Outstanding Debt (Tables)

9 Months Ended

Sep. 30, 2011

Information Provided in Connection With Outstanding Debt

Condensed Consolidating Balance Sheet

(in millions)			American International Group, Inc. (As Guarantor)		SAFG, Inc.		Other Subsidiaries			Reclassifications and Eliminations			Consolidated AIG
September 30, 2011
Assets:
		Short-term investments	$	17,261	$	-	$	17,142		$	(5,305	)	$	29,098
		Other investments(a)		6,597		-		480,385			(102,974	)		384,008
	Total investments			23,858		-		497,527			(108,279	)		413,106
	Cash			165		-		1,377			-			1,542
	Loans to subsidiaries(b)			39,620		-		(39,620	)		-			-
	Debt issuance costs			166		-		290			-			456
	Investment in consolidated subsidiaries(b)			82,863		33,465		(2,652	)		(113,676	)		-
	Other assets, including current and deferred income taxes			6,261		2,700		122,326			(2,134	)		129,153
Total assets			$	152,933	$	36,165	$	579,248		$	(224,089	)	$	544,257
Liabilities:
	Insurance liabilities		$	-	$	-	$	286,242		$	(299	)	$	285,943
	Other long-term debt			38,358		1,638		138,725			(101,332	)		77,389
	Other liabilities, including intercompany balances(a)(c)			15,437		3,381		75,219			(9,322	)		84,715
	Loans from subsidiaries(b)			13,107		291		(13,398	)		-			-
Total liabilities				66,902		5,310		486,788			(110,953	)		448,047
Redeemable noncontrolling interests (see Note 1):
Nonvoting, callable, junior preferred interests held by Department of the Treasury				-		-		-			9,303			9,303
Other				-		-		29			76			105
Total redeemable noncontrolling interests				-		-		29			9,379			9,408
Total AIG shareholders' equity				86,031		30,855		91,132			(121,987	)		86,031
Other noncontrolling interests				-		-		1,299			(528	)		771
Total equity				86,031		30,855		92,431			(122,515	)		86,802
Total liabilities and equity			$	152,933	$	36,165	$	579,248		$	(224,089	)	$	544,257
December 31, 2010
Assets:
		Short-term investments	$	5,602	$	-	$	39,907		$	(1,771	)	$	43,738
		Other investments(a)		5,852		-		486,494			(125,672	)		366,674
	Total investments			11,454		-		526,401			(127,443	)		410,412
	Cash			49		-		1,509			-			1,558
	Loans to subsidiaries(b)			61,630		-		(61,630	)		-			-
	Debt issuance costs, including prepaid commitment asset of $3,628			3,838		-		241			-			4,079
	Investment in consolidated subsidiaries(b)			93,511		33,354		(6,788	)		(120,077	)		-
	Other assets, including current and deferred income taxes			7,852		2,717		150,157			(785	)		159,941
	Assets held for sale			-		-		107,453			-			107,453
Total assets			$	178,334	$	36,071	$	717,343		$	(248,305	)	$	683,443
Liabilities:
	Insurance liabilities		$	-	$	-	$	274,590		$	(237	)	$	274,353
	Federal Reserve Bank of New York credit facility			20,985		-		-			-			20,985
	Other long-term debt			40,443		1,637		167,532			(124,136	)		85,476
	Other liabilities, including intercompany balances(a)(c)			31,586		4,414		59,354			(3,710	)		91,644
	Loans from subsidiaries(b)			1		379		(380	)		-			-
	Liabilities held for sale			-		-		97,300			12			97,312
Total liabilities				93,015		6,430		598,396			(128,071	)		569,770
Redeemable noncontrolling nonvoting, callable, junior preferred interests				-		-		207			227			434
Total AIG shareholders' equity				85,319		29,641		117,641			(147,282	)		85,319
Noncontrolling interests:
	Nonvoting, callable, junior and senior preferred interests held by Federal Reserve Bank of New York			-		-		-			26,358			26,358
	Other			-		-		1,099			463			1,562
Total noncontrolling interests				-		-		1,099			26,821			27,920
Total equity				85,319		29,641		118,740			(120,461	)		113,239
Total liabilities and equity			$	178,334	$	36,071	$	717,343		$	(248,305	)	$	683,443

(a)

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

(b)

Eliminated in consolidation.

(c)

For September 30, 2011 and December 31, 2010, includes intercompany tax payable of $9.9 billion and $28.1 billion, respectively, and intercompany derivative liabilities of $586 million and $150 million, respectively, for American International Group, Inc. (As Guarantor) and intercompany tax receivable of $108 million and $152 million, respectively, for SAFG, Inc.

Condensed Consolidating Statement of Income (Loss)

(in millions)			American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries			Reclassifications and Eliminations			Consolidated AIG
Three Months Ended September 30, 2011
Revenues:
	Equity in undistributed net income (loss) of consolidated subsidiaries(a)		$	(3,436	)	$	(392	)	$	-		$	3,828		$	-
	Dividend income from consolidated subsidiaries(a)			775			-			-			(775	)		-
	Change in fair value of ML III			(484	)		-			(447	)		-			(931	)
	Other revenue(b)			406			831			12,410			-			13,647
Total revenues				(2,739	)		439			11,963			3,053			12,716
Expenses:
	Other interest expense			712			64			169			-			945
	Other expense			230			-			15,899			-			16,129
Total expenses				942			64			16,068			-			17,074
Income (loss) from continuing operations before income tax expense (benefit)				(3,681	)		375			(4,105	)		3,053			(4,358	)
Income tax expense (benefit)(c)				223			(21	)		(836	)		-			(634	)
Income (loss) from continuing operations				(3,904	)		396			(3,269	)		3,053			(3,724	)
Loss from discontinued operations				(205	)		-			(16	)		-			(221	)
Net income (loss)				(4,109	)		396			(3,285	)		3,053			(3,945	)
Less:
Net income from continuing operations attributable to noncontrolling interests:
		Nonvoting, callable, junior and senior preferred interests		-			-			-			145			145
		Other		-			-			19			-			19
Total income from continuing operations attributable to noncontrolling interests				-			-			19			145			164
Income (loss) from discontinued operations attributable to noncontrolling interests				-			-			-			-			-
Total net income attributable to noncontrolling interests				-			-			19			145			164
Net income (loss) attributable to AIG			$	(4,109	)	$	396		$	(3,304	)	$	2,908		$	(4,109	)
Three Months Ended September 30, 2010
Revenues:
	Equity in undistributed net income (loss) of consolidated subsidiaries(a)		$	(1,688	)	$	641		$	-		$	1,047		$	-
	Dividend income from consolidated subsidiaries(a)			523			-			-			(523	)		-
	Change in fair value of ML III			-			-			301			-			301
	Other revenue(b)			211			48			18,895			-			19,154
Total revenues				(954	)		689			19,196			524			19,455
Expenses:
	Interest expense on FRBNY Credit Facility			1,319			-			-			(20	)		1,299
	Other interest expense			513			96			401			1			1,011
	Other expenses			417			-			16,422			-			16,839
Total expenses				2,249			96			16,823			(19	)		19,149
Income (loss) from continuing operations before income tax expense (benefit)				(3,203	)		593			2,373			543			306
Income tax expense (benefit)(c)				(703	)		(15	)		1,204			-			486
Income (loss) from continuing operations				(2,500	)		608			1,169			543			(180	)
Loss from discontinued operations				(17	)		-			(1,796	)		(20	)		(1,833	)
Net income (loss)				(2,517	)		608			(627	)		523			(2,013	)
Less:
Net income from continuing operations attributable to noncontrolling interests:
		Nonvoting, callable, junior and senior preferred interests		-			-			-			388			388
		Other		-			-			104			-			104
Total income from continuing operations attributable to noncontrolling interests				-			-			104			388			492
Income from discontinued operations attributable to noncontrolling interests				-			-			12			-			12
Total net income attributable to noncontrolling interests				-			-			116			388			504
Net income (loss) attributable to AIG			$	(2,517	)	$	608		$	(743	)	$	135		$	(2,517	)

(in millions)			American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries			Reclassifications and Eliminations			Consolidated AIG
Nine Months Ended September 30, 2011
Revenues:
	Equity in undistributed net income (loss) of consolidated subsidiaries(a)		$	(2,652	)	$	78		$	-		$	2,574		$	-
	Dividend income from consolidated subsidiaries(a)			5,199			-			-			(5,199	)		-
	Change in fair value of ML III			(831	)		-			(23	)		-			(854	)
	Other revenue(b)			639			1,297			45,746			-			47,682
Total revenues				2,355			1,375			45,723			(2,625	)		46,828
Expenses:
	Interest expense on FRBNY Credit Facility			72			-			-			(2	)		70
	Other interest expense			2,194			223			487			-			2,904
	Loss on extinguishment of debt			3,331			-			61			-			3,392
	Other expense			502			-			43,892			-			44,394
Total expenses				6,099			223			44,440			(2	)		50,760
Income (loss) from continuing operations before income tax benefit				(3,744	)		1,152			1,283			(2,623	)		(3,932	)
Income tax benefit(c)				(810	)		(30	)		(282	)		-			(1,122	)
Income (loss) from continuing operations				(2,934	)		1,182			1,565			(2,623	)		(2,810	)
Income (loss) from discontinued operations				934			-			463			(2	)		1,395
Net income (loss)				(2,000	)		1,182			2,028			(2,625	)		(1,415	)
Less:
Net income from continuing operations attributable to noncontrolling interests:
		Nonvoting, callable, junior and senior preferred interests		-			-			-			538			538
		Other		-			-			28			-			28
Total income from continuing operations attributable to noncontrolling interests				-			-			28			538			566
Income from discontinued operations attributable to noncontrolling interests				-			-			19			-			19
Total net income attributable to noncontrolling interests				-			-			47			538			585
Net income (loss) attributable to AIG			$	(2,000	)	$	1,182		$	1,981		$	(3,163	)	$	(2,000	)
Nine Months Ended September 30, 2010
Revenues:
	Equity in undistributed net income (loss) of consolidated subsidiaries(a)		$	(2,616	)	$	1,120		$	-		$	1,496		$	-
	Dividend income from consolidated subsidiaries(a)			1,206			-			-			(1,206	)		-
	Change in fair value of ML III			-			-			1,410			-			1,410
	Other revenue(b)			2,130			148			52,636			-			54,914
Total revenues				720			1,268			54,046			290			56,324
Expenses:
	Interest expense on FRBNY Credit Facility			2,907			-			-			(61	)		2,846
	Other interest expense			1,735			282			929			3			2,949
	Other expenses			1,280			-			45,801			-			47,081
Total expenses				5,922			282			46,730			(58	)		52,876
Income (loss) from continuing operations before income tax expense (benefit)				(5,202	)		986			7,316			348			3,448
Income tax expense (benefit)(c)				(1,829	)		(42	)		2,915			-			1,044
Income (loss) from continuing operations				(3,373	)		1,028			4,401			348			2,404
Loss from discontinued operations				(17	)		-			(4,023	)		(61	)		(4,101	)
Net income (loss)				(3,390	)		1,028			378			287			(1,697	)
Less:
Net income from continuing operations attributable to noncontrolling interests:
		Nonvoting, callable, junior and senior preferred interests		-			-			-			1,415			1,415
		Other		-			-			243			-			243
Total income from continuing operations attributable to noncontrolling interests				-			-			243			1,415			1,658
Income from discontinued operations attributable to noncontrolling interests				-			-			35			-			35
Total net income attributable to noncontrolling interests				-			-			278			1,415			1,693
Net income (loss) attributable to AIG			$	(3,390	)	$	1,028		$	100		$	(1,128	)	$	(3,390	)

(a)

Eliminated in consolidation.

(b)

Includes interest income of $90 million and $840 million for the three-month periods ended September 30, 2011 and 2010, respectively, and $484 million and $2.5 billion for the nine-month periods ended September 30, 2011 and 2010, respectively, for American International Group, Inc. (As Guarantor).

(c)

Income taxes recorded by American International Group, Inc. (As Guarantor) include deferred tax expense attributable to foreign businesses sold and a valuation allowance to reduce the consolidated deferred tax asset to the amount more likely than not to be realized. See Note 14 herein for additional information.

Condensed Consolidating Statement of Cash Flows

(in millions)		American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries and Eliminations			Consolidated AIG
Nine Months Ended September 30, 2011
Net cash (used in) provided by operating activities – continuing operations		$	(4,473	)	$	1,033		$	(1,013	)	$	(4,453	)
Net cash (used in) provided by operating activities – discontinued operations			-			-			3,370			3,370
Net cash (used in) provided by operating activities			(4,473	)		1,033			2,357			(1,083	)
Cash flows from investing activities:
	Sales of investments		2,425			-			63,818			66,243
	Sales of divested businesses, net		1,075			-			(488	)		587
	Purchase of investments		(8	)		-			(77,636	)		(77,644	)
	Loans to subsidiaries – net		4,031			-			(4,031	)		-
	Contributions to subsidiaries – net*		(16,878	)		-			16,878			-
	Net change in restricted cash		2,001			-			24,407			26,408
	Net change in short-term investments		(9,892	)		-			25,302			15,410
	Other, net*		1,165			-			(619	)		546
Net cash (used in) provided by investing activities – continuing operations			(16,081	)		-			47,631			31,550
Net cash (used in) provided by investing activities – discontinued operations			-			-			4,478			4,478
Net cash (used in) provided by investing activities			(16,081	)		-			52,109			36,028
Cash flows from financing activities:
	Federal Reserve Bank of New York credit facility repayments		(14,622	)		-			-			(14,622	)
	Issuance of other long-term debt		2,135			-			4,162			6,297
	Repayments on other long-term debt		(4,450	)		-			(10,494	)		(14,944	)
	Drawdown on the Department of the Treasury Commitment*		20,292			-			-			20,292
	Issuance of Common Stock		5,055			-			-			5,055
	Intercompany loans – net		12,408			(1,033	)		(11,375	)		-
	Other, net*		(148	)		-			(35,432	)		(35,580	)
Net cash (used in) provided by financing activities – continuing operations			20,670			(1,033	)		(53,139	)		(33,502	)
Net cash (used in) provided by financing activities – discontinued operations			-			-			(1,942	)		(1,942	)
Net cash (used in) provided by financing activities			20,670			(1,033	)		(55,081	)		(35,444	)
Effect of exchange rate changes on cash			-			-			37			37
Change in cash			116			-			(578	)		(462	)
Cash at beginning of period			49			-			1,509			1,558
Change in cash of businesses held for sale			-			-			446			446
Cash at end of period		$	165		$	-		$	1,377		$	1,542

(in millions)		American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries and Eliminations			Consolidated AIG
Nine Months Ended September 30, 2010
Net cash (used in) provided by operating activities – continuing operations		$	(345	)	$	(178	)	$	9,492		$	8,969
Net cash (used in) provided by operating activities – discontinued operations			-			-			6,146			6,146
Net cash (used in) provided by operating activities			(345	)		(178	)		15,638			15,115
Cash flows from investing activities:
	Sales of investments		1,523			-			59,491			61,014
	Sales of divested businesses, net		278			-			1,625			1,903
	Purchase of investments		(52	)		-			(71,563	)		(71,615	)
	Loans to subsidiaries – net		2,381			-			(2,381	)		-
	Contributions to subsidiaries – net		(2,590	)		-			2,590			-
	Net change in restricted cash		(237	)		-			(102	)		(339	)
	Net change in short-term investments		(465	)		-			5,453			4,988
	Other, net		(70	)		-			(144	)		(214	)
Net cash (used in) provided by investing activities – continuing operations			768			-			(5,031	)		(4,263	)
Net cash (used in) provided by investing activities – discontinued operations			-			-			(3,264	)		(3,264	)
Net cash (used in) provided by investing activities			768			-			(8,295	)		(7,527	)
Cash flows from financing activities:
	Federal Reserve Bank of New York credit facility borrowings		14,900			-			-			14,900
	Federal Reserve Bank of New York credit facility repayments		(14,444	)		-			(4,068	)		(18,512	)
	Issuance of other long-term debt		-			-			9,683			9,683
	Repayments on other long-term debt		(2,389	)		(500	)		(7,592	)		(10,481	)
	Proceeds from drawdown on the Department of the Treasury Commitment		2,199			-			-			2,199
	Repayment of Department of the Treasury SPV Preferred Interests
	Repayment of Federal Reserve Bank of New York SPV Preferred Interests
	Issuance of Common Stock
	Acquisition of noncontrolling interest
	Intercompany loans – net		(670	)		676			(6	)		-
	Other, net		(3	)		-			(2,629	)		(2,632	)
Net cash (used in) provided by financing activities – continuing operations			(407	)		176			(4,612	)		(4,843	)
Net cash (used in) provided by financing activities – discontinued operations			-			-			(3,929	)		(3,929	)
Net cash (used in) provided by financing activities			(407	)		176			(8,541	)		(8,772	)
Effect of exchange rate changes on cash			-			-			(4	)		(4	)
Change in cash			16			(2	)		(1,202	)		(1,188	)
Cash at beginning of period			57			2			4,341			4,400
Change in cash of businesses held for sale			-			-			(1,544	)		(1,544	)
Cash at end of period		$	73		$	-		$	1,595		$	1,668

*

Includes activities related to the Recapitalization. See Note 12 herein.

Supplementary disclosure of cash flow information

		American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries and Eliminations			Consolidated AIG
Cash (paid) received during the nine months ended September 30, 2011 for:
Interest:
	Third party*	$	(6,337	)	$	(96	)	$	(1,519	)	$	(7,952	)
	Intercompany		(258	)		(127	)		385			-
Taxes:
	Income tax authorities	$	13		$	-		$	(656	)	$	(643	)
	Intercompany		(793	)		-			793			-
Cash (paid) received during the nine months ended September 30, 2010 for:
Interest:
	Third party	$	(1,856	)	$	(146	)	$	(1,976	)	$	(3,978	)
	Intercompany		(1	)		(170	)		171			-
Taxes:
	Income tax authorities	$	(30	)	$	-		$	(1,104	)	$	(1,134	)
	Intercompany		736			-			(736	)		-

*

Includes payment of FRBNY Credit Facility accrued compounded interest of $4.7 billion in the first quarter of 2011.

Supplementary disclosure of non-cash activities

Nine Months Ended September 30, (in millions)		2011		2010
Intercompany non-cash financing and investing activities:
	Temporary paydown of FRBNY Credit Facility by subsidiary	$	-	$	4,068
	Return of capital and dividend received in the form of bond trading securities		3,668		-
	Capital contributions to subsidiaries through forgiveness of loans		-		2,200
	Intercompany loan receivable offset by intercompany payable		18,284		-
	Intercompany loan settled through note assignment		-		214
	Note received offset by intercompany payable		-		25
	Loan receivable offset by intercompany payable		-		460
	Other capital contributions – net		412		68