SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of significant accounting policies and note

The following table identifies our significant accounting policies presented in other Notes to these Consolidated Financial Statements, with a reference to the Note where a detailed description can be found:

Note 4.	Held-for-Sale Classification, Divested Businesses and Discontinued Operations
	• Held-for-sale classification
	• Discontinued operations
Note 6.	Investments
	• Fixed maturity and equity securities
	• Other invested assets
	• Short-term investments
	• Net investment income
	• Net realized capital gains (losses)
	• Other-than-temporary impairments
Note 7.	Lending Activities
	• Mortgage and other loans receivable – net of allowance
Note 8.	Reinsurance
	• Reinsurance assets – net of allowance
Note 9.	Deferred Policy Acquisition Costs
	• Deferred policy acquisition costs
	• Amortization of deferred policy acquisition costs
Note 11.	Derivatives and Hedge Accounting
	• Derivative assets and liabilities, at fair value

Note 12.	Liability for Unpaid Claims and Claims Adjustment Expense, and Future Policy Benefits for Life and Accident and Health Insurance Contracts, and Policyholder Contract Deposits
	• Liability for unpaid claims and claims adjustment expense
	• Future policy benefits
	• Policyholder contract deposits
	• Interest credited to policyholder account balances
Note 14.	Debt
	• Long-term debt
Note 15.	Contingencies, Commitments and Guarantees
	• Legal contingencies
Note 17.	Noncontrolling Interests
Note 18.	Earnings Per Share
Note 23.	Income Taxes

Schedule of changes in goodwill by reportable segment

(in millions)	AIG Property Casualty			Other			Total
Balance at December 31, 2011:
Goodwill – gross	$	2,546		$	2,304		$	4,850
Accumulated impairments		(1,196	)		(2,281	)		(3,477	)
Net goodwill		1,350			23			1,373
Increase (decrease) due to:
Acquisition		119			–			119
Goodwill impairments		–			(23	)		(23	)
Balance at December 31, 2012:
Goodwill – gross	$	2,665		$	2,281		$	4,946
Accumulated impairments		(1,196	)		(2,281	)		(3,477	)
Net goodwill	$	1,469		$	–		$	1,469
Increase (decrease) due to:
Other		6			–			6
Balance at December 31, 2013:
Goodwill – gross	$	2,671		$	2,281		$	4,952
Accumulated impairments		(1,196	)		(2,281	)		(3,477	)
Net goodwill	$	1,475		$	–		$	1,475