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INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT
 3 Months Ended
Mar. 31, 2017
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT  
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

16. Information Provided in Connection with Outstanding Debt

The following Condensed Consolidating Financial Statements reflect the results of AIG Life Holdings, Inc. (AIGLH), a holding company and a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of all outstanding debt of AIGLH.

Condensed Consolidating Balance Sheets

American
International Reclassifications
Group, Inc. OtherandConsolidated
(in millions)(As Guarantor)AIGLHSubsidiariesEliminationsAIG
March 31, 2017
Assets:
Short-term investments $ 2,714 $ - $ 12,907 $ (4,548) $ 11,073
Other investments(a)7,032-297,400-304,432
Total investments9,746-310,307(4,548)315,505
Cash2111,905-1,918
Loans to subsidiaries(b)34,849-394(35,243)-
Investment in consolidated subsidiaries(b)43,91628,102-(72,018)-
Other assets, including deferred income taxes21,824630158,303(4,606)176,151
Assets held for sale--6,588-6,588
Total assets $ 110,337 $ 28,743 $ 477,497 $ (116,415) $ 500,162
Liabilities:
Insurance liabilities $ - $ - $ 274,967 $ - $ 274,967
Long-term debt21,4716428,634-30,747
Other liabilities, including intercompany balances(a)14,402571108,364(9,327)114,010
Loans from subsidiaries(b)395-34,848(35,243)-
Liabilities held for sale--5,771-5,771
Total liabilities36,2681,213432,584(44,570)425,495
Total AIG shareholders’ equity74,06927,53044,315(71,845)74,069
Non-redeemable noncontrolling interests--598-598
Total equity74,06927,53044,913(71,845)74,667
Total liabilities and equity $ 110,337 $ 28,743 $ 477,497 $ (116,415) $ 500,162
December 31, 2016
Assets:
Short-term investments$4,424$-$13,218$(5,340)$12,302
Other investments(a)7,154-308,719-315,873
Total investments11,578-321,937(5,340)328,175
Cash2341,832-1,868
Loans to subsidiaries(b)34,692-576(35,268)-
Investment in consolidated subsidiaries(b)42,58227,309-(69,891)-
Other assets, including deferred income taxes24,099239140,743(4,059)161,022
Assets held for sale--7,199-7,199
Total assets$112,953$27,582$472,287$(114,558)$498,264
Liabilities:
Insurance liabilities$-$-$275,120$-$275,120
Long-term debt21,4056428,865-30,912
Other liabilities, including intercompany balances(a)14,671194103,975(9,572)109,268
Loans from subsidiaries(b)577-34,691(35,268)-
Liabilities held for sale--6,106-6,106
Total liabilities36,653836428,757(44,840)421,406
Total AIG shareholders’ equity76,30026,74642,972(69,718)76,300
Non-redeemable noncontrolling interests--558-558
Total equity76,30026,74643,530(69,718)76,858
Total liabilities and equity$112,953$27,582$472,287$(114,558)$498,264

(a) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment.

(b) Eliminated in consolidation.

Condensed Consolidating Statements of Income

American
International Reclassifications
Group, Inc. OtherandConsolidated
(in millions)(As Guarantor)AIGLHSubsidiariesEliminationsAIG
Three Months Ended March 31, 2017
Revenues:
Equity in earnings of consolidated subsidiaries*$1,462$600$-$(2,062)$-
Other income196-12,3825412,632
Total revenues1,65860012,382(2,008)12,632
Expenses:
Interest expense2421246(2)298
Gain on extinguishment of debt--(1)-(1)
Other expenses335110,325(53)10,608
Total expenses5771310,370(55)10,905
Income (loss) from continuing operations before income tax
expense (benefit)1,0815872,012(1,953)1,727
Income tax expense (benefit)(104)(4)624-516
Income (loss) from continuing operations1,1855911,388(1,953)1,211
Net income (loss)1,1855911,388(1,953)1,211
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests--26-26
Net income (loss) attributable to AIG$1,185$591$1,362$(1,953)$1,185
Three Months Ended March 31, 2016
Revenues:
Equity in earnings of consolidated subsidiaries*$(944)$(1,683)$-$2,627$-
Other income(63)512,038(201)11,779
Total revenues(1,007)(1,678)12,0382,42611,779
Expenses:
Interest expense2441449(1)306
Loss on extinguishment of debt77-6-83
Other expenses191711,605(199)11,604
Total expenses5122111,660(200)11,993
Income (loss) from continuing operations before income tax
expense (benefit)(1,519)(1,699)3782,626(214)
Income tax expense (benefit)(1,337)(6)1,285-(58)
Income (loss) from continuing operations(182)(1,693)(907)2,626(156)
Loss from discontinued operations, net of income taxes(1)-(46)-(47)
Net income (loss)(183)(1,693)(953)2,626(203)
Less:
Net income (loss) from continuing operations attributable to
noncontrolling interests--(20)-(20)
Net income (loss) attributable to AIG$(183)$(1,693)$(933)$2,626$(183)

* Eliminated in consolidation.

Condensed Consolidating Statements of Comprehensive Income

American
InternationalReclassifications
Group, Inc.OtherandConsolidated
(in millions)(As Guarantor)AIGLHSubsidiariesEliminationsAIG
Three Months Ended March 31, 2017
Net income (loss)$1,185$591$1,388$(1,953)$1,211
Other comprehensive income (loss)5514,66051,030(55,690)551
Comprehensive income (loss)1,7365,25152,418(57,643)1,762
Total comprehensive income attributable to noncontrolling interests--26-26
Comprehensive income (loss) attributable to AIG$1,736$5,251$52,392$(57,643)$1,736
Three Months Ended March 31, 2016
Net income (loss)$(183)$(1,693)$(953)$2,626$(203)
Other comprehensive income (loss)2,988(474)55,554(55,080)2,988
Comprehensive income (loss)2,805(2,167)54,601(52,454)2,785
Total comprehensive loss attributable to noncontrolling interests--(20)-(20)
Comprehensive income (loss) attributable to AIG$2,805$(2,167)$54,621$(52,454)$2,805

Condensed Consolidating Statements of Cash Flows

American
International Reclassifications
Group, Inc. OtherandConsolidated
(in millions)(As Guarantor)AIGLHSubsidiaries*Eliminations*AIG
Three Months Ended March 31, 2017
Net cash (used in) provided by operating activities$651$(23)$(10,938)$(49)$(10,359)
Cash flows from investing activities:
Sales of investments2,699-26,492(2,482)26,709
Sales of divested businesses, net--24-24
Purchase of investments(890)-(14,769)2,482(13,177)
Loans to subsidiaries - net(56)-183(127)-
Contributions from (to) subsidiaries - net206--(206)-
Net change in restricted cash--(22)-(22)
Net change in short-term investments1,470-(220)-1,250
Other, net(5)-(292)-(297)
Net cash (used in) provided by investing activities3,424-11,396(333)14,487
Cash flows from financing activities:
Issuance of long-term debt--151-151
Repayments of long-term debt--(602)-(602)
Purchase of common stock(3,585)---(3,585)
Intercompany loans - net(183)-56127-
Cash dividends paid (307)-(49)49(307)
Other, net--89206295
Net cash (used in) provided by financing activities(4,075)-(355)382(4,048)
Effect of exchange rate changes on cash--(82)-(82)
Change in cash-(23)21-(2)
Cash at beginning of year2341,832-1,868
Change in cash of businesses held for sale--52-52
Cash at end of period$2$11$1,905$-$1,918
Three Months Ended March 31, 2016
Net cash (used in) provided by operating activities$1,483$97$(1,481)$(1,067)$(968)
Cash flows from investing activities:
Sales of investments392-17,004(1,154)16,242
Purchase of investments(322)-(16,634)1,154(15,802)
Loans to subsidiaries - net880-180(1,060)-
Contributions from (to) subsidiaries - net644--(644)-
Net change in restricted cash--(59)-(59)
Net change in short-term investments(1,022)-445-(577)
Other, net(127)-708-581
Net cash (used in) provided by investing activities445-1,644(1,704)385
Cash flows from financing activities:
Issuance of long-term debt2,986-303-3,289
Repayments of long-term debt(710)(26)(222)-(958)
Purchase of common stock(3,486)---(3,486)
Intercompany loans - net(180)(3)(877)1,060-
Cash dividends paid(363)(177)(890)1,067(363)
Other, net(173)-1,5006441,971
Net cash (used in) provided by financing activities(1,926)(206)(186)2,771453
Effect of exchange rate changes on cash-----
Change in cash2(109)(23)-(130)
Cash at beginning of year341161,479-1,629
Cash at end of period$36$7$1,456$-$1,499

Supplementary Disclosure of Condensed Consolidating Cash Flow Information

American
InternationalReclassifications
Group, Inc.OtherandConsolidated
(in millions)(As Guarantor)AIGLHSubsidiaries*Eliminations*AIG
Cash (paid) received during the 2017 period for:
Interest:
Third party$(288)$(23)$(43)$-$(354)
Intercompany-----
Taxes:
Income tax authorities$(14)$-$(54)$-$(68)
Intercompany1,090-(1,090)--
Cash (paid) received during the 2016 period for:
Interest:
Third party$(285)$(24)$(53)$-$(362)
Intercompany-----
Taxes:
Income tax authorities$(1)$-$(38)$-$(39)
Intercompany182-(182)--

American International Group, Inc. (As Guarantor) supplementary disclosure of non-cash activities:

Three Months Ended March 31,
(in millions)20172016
Intercompany non-cash financing and investing activities:
Capital contributions$198$2,904
Dividends received in the form of securities150697
Fixed maturity securities received in exchange for equity securities--