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DEBT (Tables)
12 Months Ended
Dec. 31, 2013
DEBT  
Schedule of total debt outstanding

 

 

 
   
   
 


   
 
   
At December 31, 2013
(in millions)
  Range of
Interest Rate(s)

  Maturity
Date(s)

 

Balance at
December 31,
2013

  Balance at
December 31,
2012

 
   

Debt issued or guaranteed by AIG:

           
 
 
     

AIG General borrowings:

           
 
 
     

Notes and bonds payable

  1.24% – 8.13%     2015 – 2097  
$
14,062
$ 14,084  

Subordinated debt

  2.38%     2015  
 
250
  250  

Junior subordinated debt

  4.88% – 8.63%     2037 – 2058  
 
5,533
  9,416  

Loans and mortgages payable

  9.00%     2015  
 
1
  79  

AIGLH notes and bonds payable

  6.63% – 7.50%     2025 – 2029  
 
299
  298  

AIGLH junior subordinated debt(a)

  7.57% – 8.50%     2030 – 2046  
 
1,054
  1,339
   

Total AIG general borrowings

       
 
21,199
  25,466
   

AIG/DIB borrowings supported by assets:(b)

           
 
 
     

MIP notes payable

  2.28% – 8.59%     2014 – 2018  
 
7,963
  9,296  

Series AIGFP matched notes and bonds payable

  0.01% – 8.25%     2014 – 2047  
 
3,219
  3,544  

GIAs, at fair value

  3.00% – 9.80%     2014 – 2047  
 
5,530
  6,501  

Notes and bonds payable, at fair value

  0.18% – 10.00%     2014 – 2047  
 
1,217
  1,554
   

Total AIG/DIB borrowings supported by assets

       
 
17,929
  20,895
   

Total debt issued or guaranteed by AIG

       
 
39,128
  46,361
   

Debt not guaranteed by AIG:

           
 
 
   
   

Other subsidiaries notes, bonds, loans and mortgages payable

  0.20% – 8.29%     2014 – 2060  
 
656
  325
   

Debt of consolidated investments(c)

  0.03% – 10.00%     2014 – 2052  
 
1,909
  1,814
   

Total debt not guaranteed by AIG

       
 
2,565
  2,139
   

Total long term debt(d)

       
$
41,693
$ 48,500
   

(a)  On July 11, 2013. AIGLH junior subordinated debentures with the same terms as the trust preferred securities were distributed to holders of the trust preferred securities, and the trust preferred securities were cancelled.

(b)  AIG Parent guarantees all DIB debt, except for MIP notes payable and Series AIGFP matched notes and bonds payable, which are direct obligations to AIG Parent.

(c)  At December 31, 2013, includes debt of consolidated investments held through AIG Global Real Estate Investment Corp., AIG Credit Corp., AIG Life and Retirement and AIG Property Casualty U.S. of $1.5 billion, $111 million, $201 million and $58 million, respectively. At December 31, 2012, includes debt of consolidated investments held through AIG Global Real Estate Investment Corp., AIG Credit Corp. and AIG Life and Retirement of $1.5 billion, $176 million and $133 million, respectively.

(d)  Excludes $21.4 billion and $24.3 billion related to ILFC as it is classified as a held-for-sale business at December 31, 2013 and 2012, respectively.

Maturities of long-term debt, excluding borrowings of debt of consolidated investments

 

 

   
 
   
  Year Ending  
December 31, 2013
(in millions)
   
 
  Total
  2014
  2015
  2016
  2017
  2018
  Thereafter
 
   

General borrowings:

                                           

Notes and bonds payable

  $ 14,062   $   $ 999   $ 1,781   $ 1,374   $ 2,494   $ 7,414  

Subordinated debt

    250         250                  

Junior subordinated debt

    5,533                         5,533  

Loans and mortgages payable

    1         1                  

AIGLH notes and bonds payable

    299                         299  

AIGLH junior subordinated debt

    1,054                         1,054
   

AIG general borrowings

  $ 21,199   $   $ 1,250   $ 1,781   $ 1,374   $ 2,494   $ 14,300
   

AIG/DIB borrowings supported by assets:

                                           

MIP notes payable

    7,963     1,575     900     1,215     3,866     407      

Series AIGFP matched notes and
bonds payable

    3,219     1,000             10     1,983     226  

GIAs, at fair value

    5,530     632     597     311     249     655     3,086  

Notes and bonds payable, at fair value

    1,217     116     223     220     141     164     353
   

AIG/DIB borrowings supported by assets

    17,929     3,323     1,720     1,746     4,266     3,209     3,665
   

Other subsidiaries notes, bonds, loans and mortgages payable

    656     7     44     3     5     3     594
   

Total

  $ 39,784   $ 3,330   $ 3,014   $ 3,530   $ 5,645   $ 5,706   $ 18,559
   
Schedule of detail for uncollateralized and collateralized notes, bonds, loans and mortgages payable

 

 

   
At December 31, 2013
(in millions)
  Uncollateralized
Notes/Bonds/Loans
Payable

  Collateralized
Loans and
Mortgages Payable

  Total
 
   

AIG general borrowings

  $ 1   $   $ 1  

Other subsidiaries notes, bonds, loans and mortgages payable*

    83     573     656
   

Total

  $ 84   $ 573   $ 657
   

*     AIG does not guarantee any of these borrowings.

Summary of the Four-Year Facility

 

 

 
At December 31, 2013
(in millions)
  Size
  Available
Amount

  Expiration
  Effective
Date

 
   

Four-Year Syndicated Credit Facility

  $ 4,000   $ 3,947   October 2016   10/5/2012