QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2018

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

Consolidated Statements of Income (Loss)

	Three Months Ended
		March 31,				June 30,				September 30,				December 31,
(dollars in millions, except per share data)		2018		2017		2018		2017		2018		2017		2018		2017
Total revenues	$	11,712	$	12,632	$	11,631	$	12,502	$	11,486	$	11,751	$	12,560	$	12,635
Income (loss) from continuing
operations before income taxes^*		1,227		1,727		1,252		1,667		(1,527)		(2,803)		(695)		875
Income (loss) from discontinued
operations, net of income taxes		(1)		-		-		8		(39)		(1)		(2)		(3)
Net income (loss)		949		1,211		931		1,118		(1,259)		(1,713)		(560)		(6,672)
Net income (loss) from
continuing operations attributable
to noncontrolling interests		11		26		(6)		(12)		-		26		62		(12)
Net income (loss) attributable to AIG^*	$	938	$	1,185	$	937	$	1,130	$	(1,259)	$	(1,739)	$	(622)	$	(6,660)
Income (loss) per common share
attributable to AIG:
Basic:
Income (loss) from continuing
operations	$	1.03	$	1.21	$	1.04	$	1.21	$	(1.37)	$	(1.91)	$	(0.70)	$	(7.33)
Income (loss) from discontinued
operations	$	-	$	-	$	-	$	0.01	$	(0.04)	$	-	$	(0.70)	$	-
Diluted:
Income (loss) from continuing
operations	$	1.01	$	1.18	$	1.02	$	1.18	$	(1.37)	$	(1.91)	$	(0.70)	$	(7.33)
Income (loss) from discontinued
operations	$	-	$	-	$	-	$	0.01	$	(0.04)	$	-	$	(0.70)	$	-
Weighted average shares
outstanding:
Basic	907,951,597		980,777,243		903,215,488		925,751,084		895,237,359		908,667,044		887,508,718		908,115,499
Diluted	925,266,577		1,005,315,030		916,572,481		948,248,771		895,237,359		908,667,044		887,508,718		908,115,499
Noteworthy quarterly items -
(income) expense:
Other-than-temporary
impairments		87		68		36		67		35		88		93		37
Net (gain) loss on sale of
divested businesses		(8)		100		(25)		60		(2)		13		(3)		(241)
Federal and foreign valuation
allowance for deferred tax assets		30		(13)		7		(8)		5		24		(21)		40
Net (gain) loss on extinguishment of
debt		4		(1)		5		(4)		1		1		(3)		(1)
Prior year unfavorable (favorable)
development		(40)		61		(26)		391		949		901		546		212
Restructuring and other costs		24		181		200		47		35		31		136		154
Impact of Tax Act		-		-		-		-		62		-		-		6,687

* For the three-month period ended December 31, 2018, our results include out of period adjustments relating to prior periods that decreased Net income attributable to AIG by $87 million, and decreased Income from continuing operations before income taxes by $132 million. The out of period adjustments for the three-month period are primarily related to decreases in Premiums and decreases in Net realized capital gains and losses. We determined that these adjustments were not material to the current quarter or to any previously reported quarterly financial statements. Had these adjustments been recorded in their appropriate periods, Net income attributable to AIG for the three-month period ended September 30, 2018 would have decreased by $40 million with no impact to the three-month periods ended June 30, 2018 and March 31, 2018, respectively.