INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)

3 Months Ended

Mar. 31, 2012

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

Condensed Consolidating Balance Sheet

(in millions)	American International Group, Inc. (As Guarantor)		SAFG, Inc.		Other Subsidiaries			Reclassifications and Eliminations			Consolidated AIG
March 31, 2012
Assets:
Short-term investments	$	11,871	$	-	$	10,968		$	(2,050	)	$	20,789
Other investments(a)		9,892		-		384,947			(8,667	)		386,172
Total investments		21,763		-		395,915			(10,717	)		406,961
Cash		86		-		1,229			-			1,315
Loans to subsidiaries(b)		36,165		-		(36,165	)		-			-
Debt issuance costs		193		-		303			-			496
Investment in consolidated subsidiaries(b)		72,282		34,243		(23,768	)		(82,757	)		-
Other assets, including current and deferred income taxes		24,882		2,724		122,463			(4,438	)		145,631
Total assets	$	155,371	$	36,967	$	459,977		$	(97,912	)	$	554,403
Liabilities:
Insurance liabilities	$	-	$	-	$	282,526		$	(277	)	$	282,249
Other long-term debt		36,658		1,638		46,528			(8,728	)		76,096
Other liabilities, including intercompany balances(a)(c)		14,639		1,729		81,364			(6,139	)		91,593
Loans from subsidiaries(b)		623		237		(860	)		-			-
Total liabilities		51,920		3,604		409,558			(15,144	)		449,938
Redeemable noncontrolling interests (see Note 1):
Nonvoting, callable, junior preferred interests held by Department of the Treasury		-		-		-			-			-
Other		-		-		28			93			121
Total redeemable noncontrolling interests		-		-		28			93			121
Total AIG shareholders' equity		103,451		33,363		49,945			(83,308	)		103,451
Other noncontrolling interests		-		-		446			447			893
Total noncontrolling interests		-		-		446			447			893
Total equity		103,451		33,363		50,391			(82,861	)		104,344
Total liabilities and equity	$	155,371	$	36,967	$	459,977		$	(97,912	)	$	554,403
December 31, 2011
Assets:
Short-term investments	$	12,868	$	-	$	14,110		$	(4,406	)	$	22,572
Other investments(a)		6,599		-		481,525			(100,258	)		387,866
Total investments		19,467		-		495,635			(104,664	)		410,438
Cash		176		13		1,285			-			1,474
Loans to subsidiaries(b)		39,971		-		(39,971	)		-			-
Debt issuance costs		196		-		297			-			493
Investment in consolidated subsidiaries(b)		79,802		32,361		(11,600	)		(100,563	)		-
Other assets, including current and deferred income taxes		24,317		2,704		117,231			(4,297	)		139,955
Total assets	$	163,929	$	35,078	$	562,877		$	(209,524	)	$	552,360
Liabilities:
Insurance liabilities	$	-	$	-	$	282,790		$	(274	)	$	282,516
Other long-term debt		35,906		1,638		138,240			(100,531	)		75,253
Other liabilities, including intercompany balances(a)(c)		14,169		2,402		75,132			(8,028	)		83,675
Loans from subsidiaries(b)		12,316		249		(12,565	)		-			-
Total liabilities		62,391		4,289		483,597			(108,833	)		441,444
Redeemable noncontrolling interests (see Note 1):
Nonvoting, callable, junior preferred interests held by Department of the Treasury		-		-		-			8,427			8,427
Other		-		-		29			67			96
Total redeemable noncontrolling interests		-		-		29			8,494			8,523
Total AIG shareholders' equity		101,538		30,789		78,859			(109,648	)		101,538
Other noncontrolling interests		-		-		392			463			855
Total noncontrolling interests		-		-		392			463			855
Total equity		101,538		30,789		79,251			(109,185	)		102,393
Total liabilities and equity	$	163,929	$	35,078	$	562,877		$	(209,524	)	$	552,360

(a)

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

(b)

Eliminated in consolidation.

(c)

For March 31, 2012 and December 31, 2011, includes intercompany tax payable of $9.7 billion and $9.8 billion, respectively, and intercompany derivative liabilities of $768 million and $901 million, respectively, for American International Group, Inc. (As Guarantor) and intercompany tax receivable of $129 million and $128 million, respectively, for SAFG, Inc.

Condensed Consolidating Statement of Income (Loss)

(in millions)	American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries			Reclassifications and Eliminations			Consolidated AIG
Three Months Ended March 31, 2012
Revenues:
Equity in earnings of consolidated subsidiaries(a)	$	2,820		$	(1,336	)	$	-		$	(1,484	)	$	-
Change in fair value of ML III		651			-			601			-			1,252
Other income(b)		651			1,437			15,307			(204	)		17,191
Total revenues		4,122			101			15,908			(1,688	)		18,443
Expenses:
Other interest expense(c)		644			54			459			(204	)		953
Net loss on extinguishment of debt		-			-			21			-			21
Other expenses		179			-			12,706			-			12,885
Total expenses		823			54			13,186			(204	)		13,859
Income (loss) from continuing operations before income tax expense		3,299			47			2,722			(1,484	)		4,584
Income tax expense		91			-			1,057			-			1,148
Income (loss) from continuing operations		3,208			47			1,665			(1,484	)		3,436
Income from discontinued operations		-			-			13			-			13
Net income (loss)		3,208			47			1,678			(1,484	)		3,449
Less:
Net income from continuing operations attributable to noncontrolling interests:
Nonvoting, callable, junior and senior preferred interests		-			-			-			208			208
Other		-			-			33			-			33
Total net income attributable to noncontrolling interests		-			-			33			208			241
Net income (loss) attributable to AIG	$	3,208		$	47		$	1,645		$	(1,692	)	$	3,208
Three Months Ended March 31, 2011
Revenues:
Equity in earnings of consolidated subsidiaries(a)	$	3,992		$	336		$	-		$	(4,328	)	$	-
Change in fair value of ML III		-			-			744			-			744
Other income(b)		41			258			16,737			(341	)		16,695
Total revenues		4,033			594			17,481			(4,669	)		17,439
Expenses:
Interest expense on FRBNY Credit Facility		72			-			-			(2	)		70
Other interest expense(c)		751			94			487			(341	)		991
Net loss on extinguishment of debt		3,313			-			-			-			3,313
Other expenses		47			-			14,328			-			14,375
Total expenses		4,183			94			14,815			(343	)		18,749
Income (loss) from continuing operations before income tax expense (benefit)		(150	)		500			2,666			(4,326	)		(1,310	)
Income tax expense (benefit)		(316	)		81			9			-			(226	)
Income (loss) from continuing operations		166			419			2,657			(4,326	)		(1,084	)
Income (loss) from discontinued operations		1,131			-			1,456			(2	)		2,585
Net income (loss)		1,297			419			4,113			(4,328	)		1,501
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests:
Nonvoting, callable, junior and senior preferred interests		-			-			-			252			252
Other		-			-			(55	)		-			(55	)
Total income (loss) from continuing operations attributable to noncontrolling interests		-			-			(55	)		252			197
Income from discontinued operations attributable to noncontrolling interests		-			-			7			-			7
Total net income (loss) attributable to noncontrolling interests		-			-			(48	)		252			204
Net income (loss) attributable to AIG	$	1,297		$	419		$	4,161		$	(4,580	)	$	1,297

(a)

Eliminated in consolidation.

(b)

Includes intercompany income of $71 million and $146 million for the three-month periods ended March 31, 2012 and 2011, respectively, for American International Group, Inc. (As Guarantor).

(c)

Includes intercompany interest expense of $133 million and $195 million for the three-month periods ended March 31, 2012 and 2011, respectively, for American International Group, Inc. (As Guarantor).

Condensed Consolidating Statement of Comprehensive Income (Loss)

(in millions)	American International Group, Inc. (As Guarantor)			SAFG, Inc.		Other Subsidiaries			Reclassifications and Eliminations			Consolidated AIG
Three Months Ended March 31, 2012
Net income (loss)	$	3,208		$	47	$	1,678		$	(1,484	)	$	3,449
Other comprehensive income (loss)		1,725			-		(15	)		15			1,725
Comprehensive income (loss)		4,933			47		1,663			(1,469	)		5,174
Total comprehensive income attributable to noncontrolling interests		5			-		33			208			246
Comprehensive income (loss) attributable to AIG	$	4,928		$	47	$	1,630		$	(1,677	)	$	4,928
Three Months Ended March 31, 2011
Net income (loss)	$	1,297		$	419	$	4,113		$	(4,328	)	$	1,501
Other comprehensive income (loss)		(780	)		-		(522	)		522			(780	)
Comprehensive income (loss)		517			419		3,591			(3,806	)		721
Total comprehensive income (loss) attributable to noncontrolling interests		36			-		(47	)		251			240
Comprehensive income attributable to AIG	$	481		$	419	$	3,638		$	4,057		$	481

Condensed Consolidating Statement of Cash Flows

(in millions)	American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries and Eliminations			Consolidated AIG
Three Months Ended March 31, 2012
Net cash (used in) provided by operating activities	$	(799	)	$	1,352		$	(664	)	$	(111	)
Cash flows from investing activities:
Sales of investments		764			-			25,432			26,196
Purchase of investments		-			-			(17,393	)		(17,393	)
Loans to subsidiaries – net		3,866			-			(3,866	)		-
Contributions to subsidiaries – net		(168	)		-			168			-
Net change in restricted cash		(560	)		-			29			(531	)
Net change in short-term investments		1,450			-			722			2,172
Other, net		106			-			(364	)		(258	)
Net cash (used in) provided by investing activities		5,458			-			4,728			10,186
Cash flows from financing activities:
Issuance of long-term debt		1,996			300			2,473			4,769
Repayments of long-term debt		(1,339	)		-			(2,925	)		(4,264	)
Purchase of Common Stock		(3,000	)		-			-			(3,000	)
Intercompany loans – net		(2,400	)		(1,665	)		4,065			-
Other, net		(6	)		-			(7,731	)		(7,737	)
Net cash (used in) financing activities		(4,749	)		(1,365	)		(4,118	)		(10,232	)
Effect of exchange rate changes on cash		-			-			(2	)		(2	)
Change in cash		(90	)		(13	)		(56	)		(159	)
Cash at beginning of period		176			13			1,285			1,474
Cash at end of period	$	86		$	-		$	1,229		$	1,315

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (Continued)

(in millions)	American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries and Eliminations			Consolidated AIG
Three Months Ended March 31, 2011
Net cash (used in) provided by operating activities – continuing operations	$	(4,809	)	$	131		$	(1,864	)	$	(6,542	)
Net cash (used in) provided by operating activities – discontinued operations		-			-			1,230			1,230
Net cash (used in) provided by operating activities		(4,809	)		131			(634	)		(5,312	)
Cash flows from investing activities:
Sales of investments		2,155			-			24,232			26,387
Sales of divested businesses, net		1,075			-			(1,075	)		-
Purchase of investments		(3	)		-			(21,543	)		(21,546	)
Loans to subsidiaries – net		884			-			(884	)		-
Contributions to subsidiaries – net*		(19,596	)		-			19,596			-
Net change in restricted cash		2,012			-			24,268			26,280
Net change in short-term investments		(1,083	)		-			5,263			4,180
Other, net*		57			-			54			111
Net cash (used in) provided by investing activities – continuing operations		(14,499	)		-			49,911			35,412
Net cash (used in) provided by investing activities – discontinued operations		-			-			4,205			4,205
Net cash (used in) provided by investing activities		(14,499	)		-			54,116			39,617
Cash flows from financing activities:
Federal Reserve Bank of New York credit facility repayments		(14,622	)		-			-			(14,622	)
Issuance of long-term debt		-			-			183			183
Repayments of long-term debt		(1,458	)		-			(2,436	)		(3,894	)
Proceeds from drawdown on the Department of the Treasury Commitment*		20,292			-			-			20,292
Settlement of equity unit stock purchase contract		723			-			-			723
Intercompany loans – net		14,366			(131	)		(14,235	)		-
Other, net*		-			-			(35,530	)		(35,530	)
Net cash (used in) provided by financing activities – continuing operations		19,301			(131	)		(52,018	)		(32,848	)
Net cash (used in) provided by financing activities – discontinued operations		-			-			(1,637	)		(1,637	)
Net cash (used in) provided by financing activities		19,301			(131	)		(53,655	)		(34,485	)
Effect of exchange rate changes on cash		-			-			23			23
Change in cash		(7	)		-			(150	)		(157	)
Cash at beginning of period		49			-			1,509			1,558
Change in cash of businesses held for sale		-			-			400			400
Cash at end of period	$	42		$	-		$	1,759		$	1,801

*

Includes activities related to the Recapitalization. See Note 10 herein.

Supplementary disclosure of cash flow information

	American International Group, Inc. (As Guarantor)			SAFG, Inc.			Other Subsidiaries and Eliminations			Consolidated AIG
Cash (paid) received during the three months ended March 31, 2012 for:
Interest:
Third party	$	(398	)	$	(32	)	$	(509	)	$	(939	)
Intercompany		(128	)		(22	)		150			-
Taxes:
Income tax authorities	$	2		$	-		$	(99	)	$	(97	)
Intercompany		145			-			(145	)		-
Cash (paid) received during the three months ended March 31, 2011 for:
Interest:
Third party*	$	(5,147	)	$	(32	)	$	(617	)	$	(5,796	)
Intercompany		(162	)		(62	)		224			-
Taxes:
Income tax authorities	$	14		$	-		$	(398	)	$	(384	)
Intercompany		(44	)		-			44			-

*

Includes payment of FRBNY Credit Facility accrued compounded interest of $4.7 billion in the first quarter of 2011.

Supplementary disclosure of non-cash activities

Three Months Ended March 31, (in millions)	2012		2011
Intercompany non-cash financing and investing activities:
Capital contributions
in the form of bond available for sale securities	$	959	$	-
Return of capital and dividend received
in the form of cancellation of intercompany loan		9,303		-
in the form of bond trading securities		3,320		3,668
Intercompany loan receivable offset by intercompany payable		-		18,187
Other capital contributions – net		187		(906	)