EQUITY (Tables)

3 Months Ended

Mar. 31, 2022

Class of Stock [Line Items]

Rollforward of common stock outstanding

Three Months Ended March 31, 2022	Common	Treasury	Common Stock
	Stock Issued	Stock	Outstanding
Shares, beginning of year	1,906,671,492	(1,087,984,129)	818,687,363
Shares issued	-	4,910,231	4,910,231
Shares repurchased	-	(23,373,504)	(23,373,504)
Shares, end of period	1,906,671,492	(1,106,447,402)	800,224,090

Dividends Paid

The following table presents declaration date, record date, payment date and dividends paid per common share on AIG Common Stock in the three months ended March 31, 2022 and 2021:

				Dividends Paid
Declaration Date	Record Date	Payment Date		Per Common Share
February 16, 2022	March 17, 2022	March 31, 2022	$	0.32
February 16, 2021	March 16, 2021	March 30, 2021	$	0.32

Repurchases Of Common Stock and Warrant

The following table presents repurchases of AIG Common Stock:

Three Months Ended March 31,
(in millions)		2022		2021
Aggregate repurchases of common stock*	$	1,403	$	362
Total number of common shares repurchased		23		8

*For the three months ended March 31, 2021, approximately $92 million of these share repurchases were funded with proceeds received from warrant exercises that occurred prior to the expiration of warrants to purchase shares of AIG Common Stock on January 19, 2021.

Accumulated Other Comprehensive Income (Loss)

										Fair Value of
		Unrealized Appreciation		Unrealized						Liabilities Under
		(Depreciation) of Fixed		Appreciation		Foreign		Retirement		Fair Value Option
		Maturity Securities on		(Depreciation)		Currency		Plan		Attributable to
		Which Allowance for		of All Other		Translation		Liabilities		Changes in
(in millions)		Credit Losses Was Taken		Investments		Adjustments		Adjustment		Own Credit Risk		Total
Balance, December 31, 2021, net of tax	$	(57)	$	10,094	$	(2,453)	$	(903)	$	6	$	6,687
Change in unrealized depreciation
of investments		(57)		(20,110)		-		-		-		(20,167)
Change in deferred policy acquisition costs
adjustment and other		-		2,815		-		-		-		2,815
Change in future policy benefits		-		1,183		-		-		-		1,183
Change in foreign currency translation adjustments		-		-		(1)		-		-		(1)
Change in net actuarial loss		-		-		-		11		-		11
Change in prior service cost		-		-		-		1		-		1
Change in deferred tax asset (liability)		12		2,505		(4)		(3)		-		2,510
Change in fair value of liabilities under fair value
option attributable to changes in own credit risk		-		-		-		-		-		-
Total other comprehensive income (loss)		(45)		(13,607)		(5)		9		-		(13,648)
Noncontrolling interests		(5)		(1,076)		20		-		-		(1,061)
Balance, March 31, 2022, net of tax	$	(97)	$	(2,437)	$	(2,478)	$	(894)	$	6	$	(5,900)

Balance, December 31, 2020, net of tax	$	(95)	$	17,093	$	(2,267)	$	(1,228)	$	8	$	13,511
Change in unrealized appreciation (depreciation)
of investments		41		(11,690)		-		-		-		(11,649)
Change in deferred policy acquisition costs
adjustment and other		(2)		1,393		-		-		-		1,391
Change in future policy benefits		-		1,145		-		-		-		1,145
Change in foreign currency translation adjustments		-		-		170		-		-		170
Change in net actuarial gain		-		-		-		(1)		-		(1)
Change in prior service cost		-		-		-		2		-		2
Change in deferred tax asset (liability)		(6)		1,953		(45)		(4)		-		1,898
Change in fair value of liabilities under fair value
option attributable to changes in own credit risk		-		-		-		-		(1)		(1)
Total other comprehensive income (loss)		33		(7,199)		125		(3)		(1)		(7,045)
Noncontrolling interests		-		-		-		-		-		-
Balance, March 31, 2021, net of tax	$	(62)	$	9,894	$	(2,142)	$	(1,231)	$	7	$	6,466

Other comprehensive income (loss) reclassification adjustments

										Fair Value of
		Unrealized Appreciation		Unrealized						Liabilities Under
		(Depreciation) of Fixed		Appreciation		Foreign		Retirement		Fair Value Option
		Maturity Securities on		(Depreciation)		Currency		Plan		Attributable to
		Which Allowance for		of All Other		Translation		Liabilities		Changes in
(in millions)	Credit Losses Was Taken			Investments		Adjustments		Adjustment		Own Credit Risk		Total
March 31, 2022
Unrealized change arising during period	$	(57)	$	(16,251)	$	(1)	$	4	$	-	$	(16,305)
Less: Reclassification adjustments
included in net income		-		(139)		-		(8)		-		(147)
Total other comprehensive income (loss),
before income tax expense (benefit)		(57)		(16,112)		(1)		12		-		(16,158)
Less: Income tax expense (benefit)		(12)		(2,505)		4		3		-		(2,510)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	(45)	$	(13,607)	$	(5)	$	9	$	-	$	(13,648)
										Fair Value of
		Unrealized Appreciation		Unrealized						Liabilities Under
		(Depreciation) of Fixed		Appreciation		Foreign		Retirement		Fair Value Option
		Maturity Securities on		(Depreciation)		Currency		Plan		Attributable to
		Which Allowance for		of All Other		Translation		Liabilities		Changes in
(in millions)	Credit Losses Was Taken			Investments		Adjustments		Adjustment		Own Credit Risk		Total
March 31, 2021
Unrealized change arising during period	$	37	$	(8,761)	$	170	$	(11)	$	(1)	$	(8,566)
Less: Reclassification adjustments
included in net income		(2)		391		-		(12)		-		377
Total other comprehensive income (loss),
before income tax expense (benefit)		39		(9,152)		170		1		(1)		(8,943)
Less: Income tax expense (benefit)		6		(1,953)		45		4		-		(1,898)
Total other comprehensive income (loss),
net of income tax expense (benefit)	$	33	$	(7,199)	$	125	$	(3)	$	(1)	$	(7,045)

Schedule of effect of the reclassification of significant items out of Accumulated other comprehensive income on the respective line items in the Consolidated Statements of Income

	Amount Reclassified
	from AOCI					Affected Line Item in the
	Three Months Ended March 31,					Condensed Consolidated
(in millions)			2022		2021	Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed
maturity securities on which allowance
for credit losses was taken
Investments		$	-	$	(2)	Net realized gains (losses)
Total			-		(2)
Unrealized appreciation (depreciation) of
all other investments
Investments			(139)		391	Net realized gains (losses)
Total			(139)		391
Change in retirement plan liabilities adjustment
Prior-service credit			(1)		(1)	*
Actuarial losses			(7)		(11)	*
Total			(8)		(12)
Total reclassifications for the period		$	(147)	$	377

*These AOCI components are included in the computation of net periodic pension cost. For additional information see Note 14.

Preferred Stock

Class of Stock [Line Items]

Dividends Paid

			Dividends Paid
Declaration Date	Record Date	Payment Date		Per Preferred Share		Per Depositary Share
February 16, 2022	February 28, 2022	March 15, 2022	$	365.625	$	0.365625
February 16, 2021	February 26, 2021	March 15, 2021	$	365.625	$	0.365625