DIVESTED BUSINESSES, HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2012

DIVESTED BUSINESSES, HELD-FOR-SALE CLASSIFICATION AND DISCONTINUED OPERATIONS

Summary of information relating to sales of AIA ordinary shares

(in billions, except share data)	Shares Sold		Gross Proceeds
Sales:
March 7, 2012		1,720,000,000	$	6.0
September 11, 2012		591,866,000		2.0
December 20, 2012		1,648,903,201		6.5
Total Sales		3,960,769,201	$	14.5

Summary of assets and liabilities held for sale

(in millions)	December 31, 2012
Assets:
Equity securities	$	1
Mortgage and other loans receivable, net		117
Flight equipment primarily under operating leases, net of accumulated depreciation		34,468
Short-term investments		1,861
Cash		63
Premiums and other receivables, net of allowance		308
Other assets		1,864
Assets of businesses held for sale		38,682
Less: Loss Accrual		(6,717	)
Total assets held for sale	$	31,965
Liabilities:
Other liabilities	$	3,043
Other long-term debt		24,323
Total liabilities held for sale	$	27,366

Summary of income (loss) from discontinued operations

Years Ended December 31, (in millions)	2012			2011			2010
Revenues:
Premiums	$	–		$	5,012		$	18,296
Net investment income		–			1,632			6,924
Net realized capital gains		1			834			158
Aircraft leasing revenue		4,504			4,508			4,749
Other income		(18	)		(48	)		1,697
Total revenues		4,487			11,938			31,824
Benefits, claims and expenses, excluding Aircraft leasing expenses*		1,596			7,910			30,458
Aircraft leasing expenses		2,587			3,876			4,050
Interest expense allocation		–			2			75
Income (loss) from discontinued operations		304			150			(2,759	)
Gain (loss) on sale		(6,733	)		2,338			5,389
Income (loss) from discontinued operations, before tax income tax expense (benefit)		(6,429	)		2,488			2,630
Income tax expense (benefit)		(2,377	)		698			3,599
Income (loss) from discontinued operations, net of income tax	$	(4,052	)	$	1,790		$	(969	)

*        In 2010, includes goodwill impairment charges of $3.3 billion related to the sale of ALICO and $1.3 billion related to the sale of AIG Star and AIG Edison. In 2012, includes goodwill impairment charges of $23 million related to the ILFC Transaction. See Note 2 – Goodwill herein for further discussion.