INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)

3 Months Ended

Mar. 31, 2013

INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT

Condensed Consolidating Balance Sheet

(in millions)	American International Group, Inc. (As Guarantor)		AIGLH		Other Subsidiaries			Reclassifications and Eliminations			Consolidated AIG
March 31, 2013
Assets:
Short-term investments	$	11,804	$	–	$	17,267		$	(5,735	)	$	23,336
Other investments(a)		5,859		–		342,578			(2,074	)		346,363
Total investments		17,663		–		359,845			(7,809	)		369,699
Cash		58		–		1,169			–			1,227
Loans to subsidiaries(b)		33,402		–		6,523			(39,925	)		–
Investment in consolidated subsidiaries(b)		71,746		42,705		(26,859	)		(87,592	)		–
Other assets, including current and deferred income taxes		23,960		155		128,383			(6,360	)		146,138
Assets held for sale		–		–		31,818			(2	)		31,816
Total assets	$	146,829	$	42,860	$	500,879		$	(141,688	)	$	548,880
Liabilities:
Insurance liabilities	$	–	$	–	$	278,241		$	(240	)	$	278,001
Long-term debt		33,764		1,393		11,861			(1,752	)		45,266
Other liabilities, including intercompany balances(a)(c)		12,446		149		96,877			(11,594	)		97,878
Loans from subsidiaries(b)		1,099		379		38,630			(40,108	)		–
Liabilities held for sale		–		–		27,164			–			27,164
Total liabilities		47,309		1,921		452,773			(53,694	)		448,309
Redeemable noncontrolling interests (see Note 12)		–		–		260			128			388
Total AIG shareholders' equity		99,520		40,939		47,191			(88,130	)		99,520
Non-redeemable noncontrolling interests		–		–		655			8			663
Total equity		99,520		40,939		47,846			(88,122	)		100,183
Total liabilities and equity	$	146,829	$	42,860	$	500,879		$	(141,688	)	$	548,880
December 31, 2012
Assets:
Short-term investments	$	14,764	$	–	$	18,323		$	(4,279	)	$	28,808
Other investments(a)		3,902		–		345,706			(2,592	)		347,016
Total investments		18,666		–		364,029			(6,871	)		375,824
Cash		81		73		997			–			1,151
Loans to subsidiaries(b)		35,064		–		5,169			(40,233	)		–
Investment in consolidated subsidiaries(b)		70,781		43,891		(28,239	)		(86,433	)		–
Other assets, including current and deferred income taxes		23,153		150		121,345			(4,955	)		139,693
Assets held for sale		–		–		31,965			–			31,965
Total assets	$	147,745	$	44,114	$	495,266		$	(138,492	)	$	548,633
Liabilities:
Insurance liabilities	$	–	$	–	$	280,533		$	(235	)	$	280,298
Long-term debt		36,366		1,638		10,197			299			48,500
Other liabilities, including intercompany balances(a)(c)		12,375		261		89,976			(9,146	)		93,466
Loans from subsidiaries(b)		1,002		472		41,754			(43,228	)		–
Liabilities held for sale		–		–		27,366			–			27,366
Total liabilities		49,743		2,371		449,826			(52,310	)		449,630
Redeemable noncontrolling interests (see Note 12)		–		–		192			142			334
Total AIG shareholders' equity		98,002		41,743		44,955			(86,698	)		98,002
Non-redeemable noncontrolling interests		–		–		293			374			667
Total equity		98,002		41,743		45,248			(86,324	)		98,669
Total liabilities and equity	$	147,745	$	44,114	$	495,266		$	(138,492	)	$	548,633

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

(b)  Eliminated in consolidation.

(c)  For March 31, 2013 and December 31, 2012, includes intercompany tax payable of $5.5 billion and $6.1 billion, respectively, and intercompany derivative liabilities of $622 million and $602 million, respectively, for American International Group, Inc. (As Guarantor) and intercompany tax receivable of $85 million and $120 million, respectively, for AIGLH.

Condensed Consolidating Statement of Income

(in millions)	American International Group, Inc. (As Guarantor)			AIGLH			Other Subsidiaries		Reclassifications and Eliminations			Consolidated AIG
Three Months Ended March 31, 2013
Revenues:
Equity in earnings of consolidated subsidiaries(a)	$	1,891		$	670		$	–	$	(2,561	)	$	–
Other income(b)		294			–			15,663		(69	)		15,888
Total revenues		2,185			670			15,663		(2,630	)		15,888
Expenses:
Interest expense(c)		528			36			82		(69	)		577
Loss on extinguishment of debt		269			–			71		–			340
Other expenses		258			71			11,810		–			12,139
Total expenses		1,055			107			11,963		(69	)		13,056
Income (loss) from continuing operations before income tax expense (benefit)		1,130			563			3,700		(2,561	)		2,832
Income tax expense (benefit)		(1,080	)		(11	)		1,785		–			694
Income (loss) from continuing operations		2,210			574			1,915		(2,561	)		2,138
Income (loss) from discontinued operations, net of income taxes		(4	)		–			97		–			93
Net income (loss)		2,206			574			2,012		(2,561	)		2,231
Less:
Net income from continuing operations attributable to noncontrolling interests		–			–			25		–			25
Net income (loss) attributable to AIG	$	2,206		$	574		$	1,987	$	(2,561	)	$	2,206
Three Months Ended March 31, 2012
Revenues:
Equity in earnings of consolidated subsidiaries(a)	$	2,820		$	52		$	–	$	(2,872	)	$	–
Change in fair value of ML III		651			–			601		–			1,252
Other income(b)		651			49			15,749		(204	)		16,245
Total revenues		4,122			101			16,350		(3,076	)		17,497
Expenses:
Interest expense(c)		644			54			71		(204	)		565
Other expenses		179			–			12,287		–			12,466
Total expenses		823			54			12,358		(204	)		13,031
Income (loss) from continuing operations before income tax expense		3,299			47			3,992		(2,872	)		4,466
Income tax expense (benefit)		91			–			990		–			1,081
Income (loss) from continuing operations		3,208			47			3,002		(2,872	)		3,385
Income from discontinued operations, net of income taxes		–			–			64		–			64
Net income (loss)		3,208			47			3,066		(2,872	)		3,449
Less:
Net income from continuing operations attributable to noncontrolling interests:
Nonvoting, callable, junior and senior preferred interests		–			–			–		208			208
Other		–			–			33		–			33
Net income from continuing operations attributable to noncontrolling interests		–			–			33		208			241
Net income (loss) attributable to AIG	$	3,208		$	47		$	3,033	$	(3,080	)	$	3,208

(a)     Eliminated in consolidation.

(b)     Includes intercompany income of $66 million and $71 million for the three month periods ended March 31, 2013 and 2012, respectively, for American International Group, Inc. (As Guarantor).

(c)     Includes intercompany interest expense of $3 million and $133 million for the three month periods ended March 31, 2013 and 2012, respectively, for American International Group, Inc. (As Guarantor).

Condensed Consolidating Statement of Comprehensive Income

(in millions)	American International Group, Inc. (As Guarantor)			AIGLH			Other Subsidiaries			Reclassifications and Eliminations			Consolidated AIG
Three Months Ended March 31, 2013
Net income (loss)	$	2,206		$	574		$	2,012		$	(2,561	)	$	2,231
Other comprehensive income (loss)		(735	)		(639	)		(920	)		1,559			(735	)
Comprehensive income (loss)		1,471			(65	)		1,092			(1,002	)		1,496
Total comprehensive income attributable to noncontrolling interests		–			–			25			–			25
Comprehensive income (loss) attributable to AIG	$	1,471		$	(65	)	$	1,067		$	(1,002	)	$	1,471
Three Months Ended March 31, 2012
Net income (loss)	$	3,208		$	47		$	3,066		$	(2,872	)	$	3,449
Other comprehensive income (loss)		1,720			825			1,975			(2,795	)		1,725
Comprehensive income (loss)		4,928			872			5,041			(5,667	)		5,174
Total comprehensive income attributable to noncontrolling interests		–			–			38			208			246
Comprehensive income (loss) attributable to AIG	$	4,928		$	872		$	5,003		$	(5,875	)	$	4,928

Condensed Consolidating Statement of Cash Flows

(in millions)	American International Group, Inc. (As Guarantor)			AIGLH			Other Subsidiaries and Eliminations			Consolidated AIG
Three Months Ended March 31, 2013
Net cash (used in) provided by operating activities — continuing operations	$	(951	)	$	1,243		$	(1,069	)	$	(777	)
Net cash provided by operating activities — discontinued operations		–			–			628			628
Net cash (used in) provided by operating activities		(951	)		1,243			(441	)		(149	)
Cash flows from investing activities:
Sales of investments		556			–			16,578			17,134
Purchase of investments		(2,448	)		–			(15,721	)		(18,169	)
Loans to subsidiaries — net		1,710			–			(1,710	)		–
Contributions to subsidiaries — net		(30	)		–			30			–
Net change in restricted cash		–			–			(8	)		(8	)
Net change in short-term investments		3,255			–			2,466			5,721
Other, net		180			–			(471	)		(291	)
Net cash provided by investing activities — continuing operations		3,223			–			1,164			4,387
Net cash (used in) investing activities — discontinued operations		–			–			(423	)		(423	)
Net cash provided by investing activities		3,223			–			741			3,964
Cash flows from financing activities:
Issuance of long-term debt		–			–			131			131
Repayments of long-term debt		(2,149	)		(245	)		(467	)		(2,861	)
Intercompany loans — net		97			(93	)		(4	)		–
Cash dividends paid		–			(978	)		978			–
Other, net		(243	)		–			(523	)		(766	)
Net cash (used in) provided by financing activities — continuing operations		(2,295	)		(1,316	)		115			(3,496	)
Net cash (used in) financing activities — discontinued operations		–			–			(222	)		(222	)
Net cash (used in) financing activities		(2,295	)		(1,316	)		(107	)		(3,718	)
Effect of exchange rate changes on cash		–			–			(36	)		(36	)
Change in cash		(23	)		(73	)		157			61
Cash at beginning of period		81			73			997			1,151
Reclassification to assets held for sale		–			–			15			15
Cash at end of period	$	58		$	–		$	1,169		$	1,227
Three Months Ended March 31, 2012
Net cash (used in) provided by operating activities — continuing operations	$	(1,012	)	$	1,352		$	(834	)	$	(494	)
Net cash provided by operating activities — discontinued operations		–			–			588			588
Net cash (used in) provided by operating activities		(1,012	)		1,352			(246	)		94
Cash flows from investing activities:
Sales of investments		764			–			25,408			26,172
Purchase of investments		–			–			(16,869	)		(16,869	)
Loans to subsidiaries — net		3,866			–			(3,866	)		–
Contributions to subsidiaries — net		(168	)		–			168			–
Net change in restricted cash		(560	)		–			(1	)		(561	)
Net change in short-term investments		1,450			–			30			1,480
Other, net		106			–			(569	)		(463	)
Net cash provided by investing activities — continuing operations		5,458			–			4,301			9,759
Net cash provided by investing activities — discontinued operations		–			–			222			222
Net cash provided by investing activities		5,458			–			4,523			9,981
Cash flows from financing activities:
Issuance of long-term debt		1,996			–			234			2,230
Repayments of long-term debt		(1,339	)		–			(655	)		(1,994	)
Intercompany loans — net		(2,187	)		(1,365	)		3,552			–
Purchase of common stock		(3,000	)		–			–			(3,000	)
Other, net		(6	)		–			(7,705	)		(7,711	)
Net cash (used in) financing activities — continuing operations		(4,536	)		(1,365	)		(4,574	)		(10,475	)
Net cash provided by financing activities — discontinued operations		–			–			243			243
Net cash (used in) financing activities		(4,536	)		(1,365	)		(4,331	)		(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

Supplementary Disclosure of Condensed Consolidating Cash Flow Information

Three Months Ended March 31, (in millions)	American International Group, Inc. (As Guarantor)			AIGLH			Other Subsidiaries and Eliminations			Consolidated AIG
Cash (paid) received during the 2013 period for:
Interest:
Third party	$	(434	)	$	(44	)	$	(505	)	$	(983	)
Intercompany		(4	)		(13	)		17			–
Taxes:
Income tax authorities	$	–		$	–		$	(103	)	$	(103	)
Intercompany		210			(78	)		(132	)		–
Cash (paid) received during the 2012 period for:
Interest:
Third party	$	(398	)	$	(44	)	$	(497	)	$	(939	)
Intercompany		(128	)		(32	)		160			–
Taxes:
Income tax authorities	$	2		$	–		$	(99	)	$	(97	)
Intercompany		145			–			(145	)		–

Supplementary disclosure of non-cash activities

Three Months Ended March 31, (in millions)	2013		2012
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
Other capital contributions — net		118		187