DEBT (Tables)

12 Months Ended

Dec. 31, 2020

DEBT

Schedule of total debt outstanding

				Balance at		Balance at
At December 31, 2020	Range of	Maturity		December 31,		December 31,
(in millions)	Interest Rate(s)	Date(s)			2020		2019
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable	0% - 8.13%		2021 - 2097	$	23,068	$	20,467
Junior subordinated debt	4.88% - 8.63%		2037 - 2058		1,561		1,542
AIG Japan Holdings Kabushiki Kaisha	0.28% - 0.35%		2021 - 2025		361		344
AIGLH notes and bonds payable	6.63% - 7.50%		2025 - 2029		282		282
AIGLH junior subordinated debt	7.57% - 8.50%		2030 - 2046		361		361
Validus notes and bonds payable	8.88%		2040		348		353
Total AIG general borrowings					25,981		23,349
AIG borrowings supported by assets:(a)
Series AIGFP matched notes and bonds payable	0.23% - 0.23%		2046 - 2047		21		21
GIAs, at fair value	0.00% - 7.15%		2021 - 2047		2,033		2,003
Notes and bonds payable, at fair value	0.50% - 10.37%		2030 - 2049		64		59
Total AIG borrowings supported by assets					2,118		2,083
Total debt issued or guaranteed by AIG					28,099		25,432
Other subsidiaries notes, bonds, loans and mortgages
payable - not guaranteed by AIG	2.76%		2022 - 2023		4		47
Total long-term debt					28,103		25,479
Debt of consolidated investment entities - not guaranteed by AIG(b)	0% - 9.31%		2021 - 2062		9,431		9,871
Total debt				$	37,534	$	35,350

(a) AIG Parent guarantees all such debt, except for Series AIGFP matched notes and bonds payable, which are direct obligations of AIG Parent. Collateral posted to third parties was $1.4 billion and $1.5 billion at December 31, 2020 and December 31, 2019, respectively. This collateral primarily consists of securities of the U.S. government and government sponsored entities and generally cannot be repledged or resold by the counterparties.(b)At December 31, 2020, includes debt of consolidated investment entities related to real estate investments of $3.1 billion, affordable housing partnership investments of $2.3 billion and other securitization vehicles of $4.0 billion. At December 31, 2019, includes debt of consolidated investment entities related to real estate investments of $3.2 billion, affordable housing partnership investments of $2.1 billion and other securitization vehicles of $4.6 billion.

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

December 31, 2020			Year Ending
(in millions)		Total		2021		2022		2023		2024		2025		Thereafter
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable	$	23,068	$	1,500	$	1,515	$	1,705	$	998	$	2,751	$	14,599
Junior subordinated debt		1,561		-		-		-		-		-		1,561
AIG Japan Holdings Kabushiki Kaisha		361		236		-		-		-		125		-
AIGLH notes and bonds payable		282		-		-		-		-		135		147
AIGLH junior subordinated debt		361		-		-		-		-		-		361
Validus notes and bonds payable		348		-		-		-		-		-		348
Total AIG general borrowings		25,981		1,736		1,515		1,705		998		3,011		17,016
AIG borrowings supported by assets:
Series AIGFP matched notes and
bonds payable		21		-		-		-		-		-		21
GIAs, at fair value		2,033		158		53		127		149		588		958
Notes and bonds payable, at fair value		64		-		-		-		-		-		64
Total AIG borrowings supported by assets		2,118		158		53		127		149		588		1,043
Total debt issued or guaranteed by AIG		28,099		1,894		1,568		1,832		1,147		3,599		18,059
Debt not guaranteed by AIG:
Other subsidiaries notes, bonds, loans
and mortgages payable		4		2		1		1		-		-		-
Total debt not guaranteed by AIG		4		2		1		1		-		-		-
Total*	$	28,103	$	1,896	$	1,569	$	1,833	$	1,147	$	3,599	$	18,059

*Does not reflect $9.4 billion of notes issued by consolidated investment entities for which recourse is limited to the assets of the respective investment entities and for which there is no recourse to the general credit of AIG.

Schedule of detail for uncollateralized and collateralized notes, bonds, loans and mortgages payable

		Uncollateralized		Collateralized
At December 31, 2020		Notes/Bonds/Loans		Loans and
(in millions)		Payable		Mortgages Payable		Total
AIG general borrowings	$	361	$	-	$	361
Other subsidiaries notes, bonds, loans and mortgages payable*		-		4		4
Total	$	361	$	4	$	365

*AIG does not guarantee any of these borrowings.

Summary of Credit Facility

At December 31, 2020				Available		Effective
(in millions)		Size		Amount	Expiration	Date
Syndicated Credit Facility	$	4,500	$	4,500	June 2022	6/27/2017