INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)

12 Months Ended

Dec. 31, 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
December 31, 2011
Assets:
		Short-term investments	$	12,868	$	-	$	14,110		$	(4,406	)	$	22,572
		Other investments(a)		6,599		-		481,525			(100,258	)		387,866
	Total investments			19,467		-		495,635			(104,664	)		410,438
	Cash			176		13		1,285			-			1,474
	Loans to subsidiaries(b)			39,971		-		(39,971	)		-			-
	Debt issuance costs			196		-		297			-			493
	Investment in consolidated subsidiaries(b)			83,215		34,338		(11,600	)		(105,953	)		-
	Other assets, including current and deferred income taxes			24,317		2,704		120,644			(4,297	)		143,368
Total assets			$	167,342	$	37,055	$	566,290		$	(214,914	)	$	555,773
Liabilities:
	Insurance liabilities		$	-	$	-	$	282,790		$	(274	)	$	282,516
	Other long-term debt			35,906		1,638		138,240			(100,531	)		75,253
	Other liabilities, including intercompany balances(a)(c)			14,169		3,094		75,132			(8,720	)		83,675
	Loans from subsidiaries(b)			12,316		249		(12,565	)		-			-
Total liabilities				62,391		4,981		483,597			(109,525	)		441,444
Redeemable noncontrolling interests (see Note 1):
Nonvoting, callable, junior preferred interests held by Department of the Treasury				-		-		-			8,427			8,427
Other				-		-		29			67			96
Total redeemable noncontrolling interests				-		-		29			8,494			8,523
Total AIG shareholders' equity				104,951		32,074		82,272			(114,346	)		104,951
Other noncontrolling interests				-		-		392			463			855
Total noncontrolling interests				-		-		392			463			855
Total equity				104,951		32,074		82,664			(113,883	)		105,806
Total liabilities and equity			$	167,342	$	37,055	$	566,290		$	(214,914	)	$	555,773

(in millions)			American International Group, Inc. (As Guarantor)		SAFG, Inc.		Other Subsidiaries			Reclassifications and Eliminations			Consolidated AIG
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 fee 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 December 31, 2011 and December 31, 2010, includes intercompany tax payable of $9.8 billion and $28.1 billion, respectively, and intercompany derivative liabilities of $901 million and $150 million, respectively, for American International Group, Inc. (As Guarantor) and intercompany tax receivable of $128 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
Year Ended December 31, 2011
Revenues:
	Equity in earnings of consolidated subsidiaries(a)		$	5,222		$	122		$	-		$	(5,344	)	$	-
	Change in fair value of ML III			(723	)		-			77			-			(646	)
	Other income(b)			1,088			1,616			63,368			(1,189	)		64,883
Total revenues				5,587			1,738			63,445			(6,533	)		64,237
Expenses:
	Interest expense on FRBNY Credit Facility			72			-			-			(2	)		70
	Other interest expense(c)			2,845			281			1,864			(1,189	)		3,801
	Net loss on extinguishment of debt			2,847			-			61			-			2,908
	Other expenses			867			-			57,656			-			58,523
Total expenses				6,631			281			59,581			(1,191	)		65,302
Income (loss) from continuing operations before income tax benefit				(1,044	)		1,457			3,864			(5,342	)		(1,065	)
Income tax benefit(d)				(17,909	)		(116	)		(11	)		-			(18,036	)
Income (loss) from continuing operations				16,865			1,573			3,875			(5,342	)		16,971
Income (loss) from discontinued operations				933			-			604			(2	)		1,535
Net income (loss)				17,798			1,573			4,479			(5,344	)		18,506
Less:
Net income from continuing operations attributable to noncontrolling interests:
		Nonvoting, callable, junior and senior preferred interests		-			-			-			634			634
		Other		-			-			55			-			55
Total income from continuing operations attributable to noncontrolling interests				-			-			55			634			689
Income from discontinued operations attributable to noncontrolling interests				-			-			19			-			19
Total net income attributable to noncontrolling interests				-			-			74			634			708
Net income (loss) attributable to AIG			$	17,798		$	1,573		$	4,405		$	(5,978	)	$	17,798
Year Ended December 31, 2010
Revenues:
	Equity in earnings of consolidated subsidiaries(a)		$	18,040		$	1,683		$	-		$	(19,723	)	$	-
	Change in fair value of ML III			-			-			1,792			-			1,792
	Other income(b)			3,046			246			75,100			(2,658	)		75,734
Total revenues				21,086			1,929			76,892			(22,381	)		77,526
Expenses:
	Interest expense on FRBNY Credit Facility			4,107			-			-			(79	)		4,028
	Other interest expense(c)			2,279			378			3,950			(2,654	)		3,953
	Net loss on extinguishment of debt			104			-			-			-			104
	Other expenses			1,664			-			49,841			-			51,505
Total expenses				8,154			378			53,791			(2,733	)		59,590
Income (loss) from continuing operations before income tax expense (benefit)				12,932			1,551			23,101			(19,648	)		17,936
Income tax expense (benefit)(d)				5,144			(105	)		820			-			5,859
Income (loss) from continuing operations				7,788			1,656			22,281			(19,648	)		12,077
Loss from discontinued operations				(2	)		-			(1,983	)		(79	)		(2,064	)
Net income (loss)				7,786			1,656			20,298			(19,727	)		10,013
Less:
Net income from continuing operations attributable to noncontrolling interests:
		Nonvoting, callable, junior and senior preferred interests		-			-			-			1,818			1,818
		Other		-			-			355			-			355
Total income from continuing operations attributable to noncontrolling interests				-			-			355			1,818			2,173
Income from discontinued operations attributable to noncontrolling interests				-			-			54			-			54
Total net income attributable to noncontrolling interests				-			-			409			1,818			2,227
Net income (loss) attributable to AIG			$	7,786		$	1,656		$	19,889		$	(21,545	)	$	7,786

(in millions)			American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries			Reclassifications and Eliminations			Consolidated AIG
Year Ended December 31, 2009
Revenues:
	Equity in earnings of consolidated subsidiaries(a)		$	(1,477	)	$	(303	)	$	-		$	1,780		$	-
	Change in fair value of ML III			(1,401	)		-			1,820			-			419
	Other income(b)			4,166			199			74,100			(3,437	)		75,028
Total revenues				1,288			(104	)		75,920			(1,657	)		75,447
Expenses:
	Interest expense on FRBNY Credit Facility			10,381			-			-			(89	)		10,292
	Other interest expense(c)			2,496			355			4,652			(3,437	)		4,066
	Other expenses			1,637			-			73,759			-			75,396
Total expenses				14,514			355			78,411			(3,526	)		89,754
Income (loss) from continuing operations before income tax expense (benefit)				(13,226	)		(459	)		(2,491	)		1,869			(14,307	)
Income tax expense (benefit)(d)				(2,277	)		15			773			-			(1,489	)
Income (loss) from continuing operations				(10,949	)		(474	)		(3,264	)		1,869			(12,818	)
Income (loss) from discontinued operations				-			-			594			(89	)		505
Net income (loss)				(10,949	)		(474	)		(2,670	)		1,780			(12,313	)
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests:
		Nonvoting, callable, junior and senior preferred interests		-			-			96			44			140
		Other		-			-			(1,576	)		-			(1,576	)
Total income (loss) from continuing operations attributable to noncontrolling interests				-			-			(1,480	)		44			(1,436	)
Income from discontinued operations attributable to noncontrolling interests				-			-			72			-			72
Total net income (loss) attributable to noncontrolling interests				-			-			(1,408	)		44			(1,364	)
Net income (loss) attributable to AIG			$	(10,949	)	$	(474	)	$	(1,262	)	$	1,736		$	(10,949	)

(a)

Eliminated in consolidation.

(b)

Includes intercompany income of $489 million, $2.6 billion, and $3.4 billion for 2011, 2010, and 2009, respectively, for American International Group, Inc. (As Guarantor).

(c)

Includes intercompany interest expense of $700 million, $28 million, and $27 million for 2011, 2010, and 2009, respectively, for American International Group, Inc. (As Guarantor).

(d)

For 2010 and 2009, 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. For 2011, the income tax benefit includes the effect of releasing a significant portion of the deferred tax asset valuation allowance. See Note 22 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
Year Ended December 31, 2011
Net cash (used in) provided by operating activities – continuing operations		$	(5,600	)	$	1,277		$	988		$	(3,335	)
Net cash (used in) provided by operating activities – discontinued operations			-			-			3,370			3,370
Net cash (used in) provided by operating activities			(5,600	)		1,277			4,358			35
Cash flows from investing activities:
	Sales of investments		2,565			-			82,468			85,033
	Sales of divested businesses, net		1,075			-			(488	)		587
	Purchase of investments		(19	)		-			(101,136	)		(101,155	)
	Loans to subsidiaries – net		3,757			-			(3,757	)		-
	Contributions to subsidiaries – net*		(15,973	)		(2	)		15,975			-
	Net change in restricted cash		1,945			-			25,299			27,244
	Net change in short-term investments		(7,130	)		-			27,118			19,988
	Other, net*		1,543			-			(1,386	)		157
Net cash (used in) provided by investing activities – continuing operations			(12,237	)		(2	)		44,093			31,854
Net cash (used in) provided by investing activities – discontinued operations			-			-			4,478			4,478
Net cash (used in) provided by investing activities			(12,237	)		(2	)		48,571			36,332
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			117			5,510			7,762
	Repayments on other long-term debt		(6,181	)		-			(11,629	)		(17,810	)
	Proceeds from drawdown on the Department of the Treasury Commitment*		20,292			-			-			20,292
	Issuance of Common Stock		5,055			-			-			5,055
	Purchase of Common Stock		(70	)		-			-			(70	)
	Intercompany loans – net		11,519			(1,379	)		(10,140	)		-
	Other, net*		(164	)		-			(35,427	)		(35,591	)
Net cash (used in) provided by financing activities – continuing operations			17,964			(1,262	)		(51,686	)		(34,984	)
Net cash (used in) provided by financing activities – discontinued operations			-			-			(1,942	)		(1,942	)
Net cash (used in) provided by financing activities			17,964			(1,262	)		(53,628	)		(36,926	)
Effect of exchange rate changes on cash			-			-			29			29
Change in cash			127			13			(670	)		(530	)
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		$	176		$	13		$	1,285		$	1,474

(in millions)		American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries and Eliminations			Consolidated AIG
Year Ended December 31, 2010
Net cash (used in) provided by operating activities – continuing operations		$	(1,942	)	$	(141	)	$	11,786		$	9,703
Net cash (used in) provided by operating activities – discontinued operations			-			-			7,207			7,207
Net cash (used in) provided by operating activities			(1,942	)		(141	)		18,993			16,910
Cash flows from investing activities:
	Sales of investments		3,997			-			89,091			93,088
	Sales of divested businesses, net		278			-			21,482			21,760
	Purchase of investments		(55	)		-			(93,056	)		(93,111	)
	Loans to subsidiaries – net		5,703			-			(5,703	)		-
	Contributions to subsidiaries – net		(2,574	)		-			2,574			-
	Net change in restricted cash		(183	)		-			(26,932	)		(27,115	)
	Net change in short-term investments		(4,291	)		-			(942	)		(5,233	)
	Other, net		(300	)		-			(32	)		(332	)
Net cash (used in) provided by investing activities – continuing operations			2,575			-			(13,518	)		(10,943	)
Net cash (used in) provided by investing activities – discontinued operations			-			-			718			718
Net cash (used in) provided by investing activities			2,575			-			(12,800	)		(10,225	)
Cash flows from financing activities:
	Federal Reserve Bank of New York credit facility borrowings		19,900			-			-			19,900
	Federal Reserve Bank of New York credit facility repayments		(19,110	)		-			(4,068	)		(23,178	)
	Issuance of other long-term debt		1,996			-			11,050			13,046
	Repayments on other long-term debt		(3,681	)		(500	)		(11,795	)		(15,976	)
	Proceeds from drawdown on the Department of the Treasury Commitment		2,199			-			-			2,199
	Intercompany loans – net		(1,777	)		639			1,138			-
	Other, net		(168	)		-			(1,368	)		(1,536	)
Net cash (used in) provided by financing activities – continuing operations			(641	)		139			(5,043	)		(5,545	)
Net cash (used in) provided by financing activities – discontinued operations			-			-			(3,716	)		(3,716	)
Net cash (used in) provided by financing activities			(641	)		139			(8,759	)		(9,261	)
Effect of exchange rate changes on cash			-			-			39			39
Change in cash			(8	)		(2	)		(2,527	)		(2,537	)
Cash at beginning of period			57			2			4,341			4,400
Change in cash of businesses held for sale			-			-			(305	)		(305	)
Cash at end of period		$	49		$	-		$	1,509		$	1,558

(in millions)		American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries and Eliminations			Consolidated AIG
Year Ended December 31, 2009
Net cash (used in) provided by operating activities – continuing operations		$	(1,393	)	$	(120	)	$	13,796		$	12,283
Net cash (used in) provided by operating activities – discontinued operations			-			-			6,301			6,301
Net cash (used in) provided by operating activities			(1,393	)		(120	)		20,097			18,584
Cash flows from investing activities:
	Sales of investments		1,981			-			86,199			88,180
	Sales of divested businesses, net		857			169			4,252			5,278
	Purchase of investments		(400	)		-			(79,866	)		(80,266	)
	Loans to subsidiaries – net		(5,927	)		-			5,927			-
	Contributions to subsidiaries – net		(5,683	)		(2,350	)		8,033			-
	Net change in restricted cash		99			-			(349	)		(250	)
	Net change in short-term investments		702			-			(9,723	)		(9,021	)
	Other, net		(254	)		-			2,739			2,485
Net cash (used in) provided by investing activities – continuing operations			(8,625	)		(2,181	)		17,212			6,406
Net cash (used in) provided by investing activities – discontinued operations			-			-			(628	)		(628	)
Net cash (used in) provided by investing activities			(8,625	)		(2,181	)		16,584			5,778
Cash flows from financing activities:
	Federal Reserve Bank of New York credit facility borrowings		32,526			-			-			32,526
	Federal Reserve Bank of New York credit facility repayments		(26,400	)		-			(26	)		(26,426	)
	Issuance of other long-term debt		-			-			3,452			3,452
	Repayments on other long-term debt		(2,931	)		-			(16,520	)		(19,451	)
	Proceeds from drawdown on the Department of the Treasury Commitment		5,344			-			-			5,344
	Intercompany loans – net		1,563			1,103			(2,666	)		-
	Other, net		(130	)		1,200			(17,525	)		(16,455	)
Net cash (used in) provided by financing activities – continuing operations			9,972			2,303			(33,285	)		(21,010	)
Net cash (used in) provided by financing activities – discontinued operations			-			-			(7,987	)		(7,987	)
Net cash (used in) provided by financing activities			9,972			2,303			(41,272	)		(28,997	)
Effect of exchange rate changes on cash			-			-			533			533
Change in cash			(46	)		2			(4,058	)		(4,102	)
Cash at beginning of period			103			-			8,539			8,642
Change in cash of businesses held for sale			-			-			(140	)		(140	)
Cash at end of period		$	57		$	2		$	4,341		$	4,400

*

Includes activities related to the Recapitalization. See Note 17 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 year ended December 31, 2011 for:
Interest:
	Third party*	$	(6,909	)	$	(129	)	$	(1,947	)	$	(8,985	)
	Intercompany		(311	)		(153	)		464			-
Taxes:
	Income tax authorities	$	13		$	-		$	(729	)	$	(716	)
	Intercompany		(335	)		-			335			-
Cash (paid) received during the year ended December 31, 2010 for:
Interest:
	Third party	$	(2,493	)	$	(152	)	$	(2,521	)	$	(5,166	)
	Intercompany		(12	)		(226	)		238			-
Taxes:
	Income tax authorities	$	(32	)	$	-		$	(970	)	$	(1,002	)
	Intercompany		859			-			(859	)		-
Cash (paid) received during the year ended December 31, 2009 for:
Interest:
	Third party	$	(2,595	)	$	(166	)	$	(3,016	)	$	(5,777	)
	Intercompany		(6	)		(186	)		192			-
Taxes:
	Income tax authorities	$	1,140		$	-		$	(1,366	)	$	(226	)
	Intercompany		(1,287	)		(21	)		1,308			-

*

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

Year Ended December 31, (in millions)		2011		2010		2009
Intercompany non-cash financing and investing activities:
	Paydown of FRBNY Credit Facility by subsidiary	$	-	$	4,068	$	26
	Return of capital and dividend received in the form of bond trading securities		3,668		-		-
	Capital contributions to subsidiaries through forgiveness of loans		-		2,510		287
	Intercompany loan receivable offset by intercompany payable		18,284		1,364		-
	Investment assets received through reduction of intercompany loan receivable		-		468		-
	Settlement of payable to subsidiary with return of capital from subsidiary		-		-		15,500
	Exchange of intercompany payable with loan payable		-		469		-
	Exchange of intercompany receivable with loan receivable		-		-		528
	Capital contributions in the form of bonds		-		-		2,698
	Other capital contributions – net		523		346		2,834