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Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Premiums $ 9,057 $ 7,512 $ 17,538 $ 14,632
Policy fees 694 728 1,392 1,458
Total net investment income 3,571 2,604 7,104 5,841
Total net realized gains (losses) (297) 2,632 (2,206) 6,211
Other income 193 187 374 465
Total revenues 13,218 13,663 24,202 28,607
Benefits, losses and expenses:        
Policyholder benefits and losses incurred (including remeasurement (gains) losses of $93 and $81 for the three months ended June 30, 2023 and 2022, respectively; $157 and $227 for the six months ended June 30, 2023 and 2022, respectively) 6,858 4,984 13,255 10,044
Change in the fair value of market risk benefits, net (262) (45) (66) (278)
Interest credited to policyholder account balances 1,062 911 2,102 1,790
Amortization of deferred policy acquisition costs 1,190 1,116 2,483 2,253
General operating and other expenses 2,268 2,206 4,248 4,370
Interest expense 278 266 585 529
Loss on extinguishment of debt 0 299 0 299
Net (gain) loss on divestitures and other (43) 1 (41) (39)
Total benefits, losses and expenses 11,351 9,738 22,566 18,968
Income (loss) from continuing operations before income tax expense (benefit) 1,867 3,925 1,636 9,639
Income tax expense (benefit) 176 845 32 1,999
Income (loss) from continuing operations 1,691 3,080 1,604 7,640
Income (loss) from discontinued operations, net of income tax expense 0 (1) 0 (1)
Net income (loss) 1,691 3,079 1,604 7,639
Less:        
Net income (loss) from continuing operations attributable to noncontrolling interests 198 325 81 712
Net income (loss) attributable to AIG 1,493 2,754 1,523 6,927
Less: Dividends on preferred stock 8 8 15 15
Net income attributable to AIG common shareholders $ 1,485 $ 2,746 $ 1,508 $ 6,912
Basic:        
Income (loss) from continuing operations (in dollars per share) $ 2.05 $ 3.47 $ 2.06 $ 8.60
Income from discontinued operations (in dollars per share) 0 0 0 0
Net income (loss) attributable to AIG common shareholders (in dollars per share) 2.05 3.47 2.06 8.60
Diluted:        
Income (loss) from continuing operations (in dollars per share) 2.03 3.43 2.05 8.50
Income from discontinued operations (in dollars per share) 0 0 0 0
Net income attributable to AIG common shareholders (in dollars per share) $ 2.03 $ 3.43 $ 2.05 $ 8.50
Weighted average shares outstanding:        
Basic (in shares) 725,754,549 790,897,301 732,175,533 803,532,447
Diluted (in shares) 730,547,112 800,730,746 737,290,694 813,298,338
Excluding Fortitude Re Funds Withheld Assets        
Revenues:        
Total net investment income $ 3,280 $ 2,416 $ 6,367 $ 5,362
Total net realized gains (losses) (339) (58) (1,052) 343
Fortitude Re funds withheld assets        
Revenues:        
Total net investment income 291 188 737 479
Total net realized gains (losses) (138) (86) (169) (226)
Fortitude Re funds withheld embedded derivative        
Revenues:        
Total net realized gains (losses) $ 180 $ 2,776 $ (985) $ 6,094