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Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Premiums $ 7,407 $ 7,430 $ 14,850 $ 15,500
Policy fees 749 769 1,504 1,504
Net investment income 3,366 3,745 5,874 7,624
Net realized capital gains (losses) (2,332) 404 1,187 (42)
Other income 206 213 424 431
Total revenues 9,396 12,561 23,839 25,017
Benefits, losses and expenses:        
Policyholder benefits and losses incurred 6,521 5,802 12,846 12,481
Interest credited to policyholder account balances 918 967 1,875 1,907
Amortization of deferred policy acquisition costs 754 1,439 2,616 2,728
General operating and other expenses 2,087 2,140 4,240 4,193
Interest expense 365 360 720 709
(Gains) losses on extinguishment of debt 0 15 17 13
Net (gain) loss on sale of divested businesses 8,412 1 8,628 (5)
Total benefits, losses and expenses 19,057 10,724 30,942 22,026
Income (loss) from continuing operations before income tax expense (benefit) (9,661) 1,837 (7,103) 2,991
Income tax expense (benefit) (1,896) 446 (992) 663
Income (loss) from continuing operations (7,765) 1,391 (6,111) 2,328
Loss from discontinued operations, net of income taxes (1) (1) (1) (1)
Net income (loss) (7,766) 1,390 (6,112) 2,327
Less:        
Net income from continuing operations attributable to noncontrolling interests 162 281 67 564
Net income (loss) attributable to AIG (7,928) 1,109 (6,179) 1,763
Less: Dividends on peferred stock 8 7 15 7
Net income (loss) attributable to AIG common shareholders $ (7,936) $ 1,102 $ (6,194) $ 1,756
Basic:        
Income (loss) from continuing operations $ (9.15) $ 1.26 $ (7.11) $ 2.00
Income (loss) from discontinued operations 0 0 0 0
Net income (loss) attributable to AIG common shareholders (9.15) 1.26 (7.11) 2.00
Diluted:        
Income (loss) from continuing operations (9.15) 1.24 (7.11) 1.99
Income (loss) from discontinued operations 0 0 0 0
Net income (loss) attributable to AIG common shareholders $ (9.15) $ 1.24 $ (7.11) $ 1.99
Weighted average shares outstanding:        
Basic 866,968,305 876,382,884 870,590,968 875,885,588
Diluted 866,968,305 888,325,042 870,590,968 882,921,247
Excluding Fortitude Re funds withheld assets        
Revenues:        
Net investment income $ 3,250 $ 3,745 $ 5,758 $ 7,624
Net realized capital gains (losses) (1,591) 404 1,928 (42)
Fortitude Re funds withheld assets        
Revenues:        
Net investment income [1] 116 0 116 0
Net realized capital gains (losses) [1] 96 0 96 0
Fortitude Re funds withheld embedded derivative        
Revenues:        
Net realized capital gains (losses) $ (837) $ 0 [1] $ (837) $ 0 [1]
[1] Represents activity subsequent to the deconsolidation of Fortitude Re on June 2, 2020.