QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2019

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

Consolidated Statements of Income (Loss)

	Three Months Ended
		March 31,				June 30,				September 30,				December 31,
(dollars in millions, except per common share data)		2019		2018		2019		2018		2019		2018		2019		2018
Total revenues	$	12,456	$	11,712	$	12,561	$	11,631	$	12,914	$	11,486	$	11,815	$	12,560
Income (loss) from continuing
operations before income taxes*		1,154		1,227		1,837		1,252		1,260		(1,527)		1,036		(695)
Income (loss) from discontinued
operations, net of income taxes		-		(1)		(1)		-		-		(39)		49		(2)
Net income (loss)		937		949		1,390		931		973		(1,259)		869		(560)
Net income (loss) from
continuing operations attributable
to noncontrolling interests		283		11		281		(6)		317		-		(60)		62
Net income (loss) attributable to AIG		654		938		1,109		937		656		(1,259)		929		(622)
Net income (loss) attributable to
AIG common shareholders*	$	654	$	938	$	1,102	$	937	$	648	$	(1,259)	$	922	$	(622)
Income (loss) per common share
attributable to AIG common
shareholders:
Basic:
Income (loss) from continuing
operations	$	0.75	$	1.03	$	1.26	$	1.04	$	0.74	$	(1.37)	$	0.99	$	(0.70)
Income (loss) from discontinued
operations	$	-	$	-	$	-	$	-	$	-	$	(0.04)	$	0.06	$	-
Diluted:
Income (loss) from continuing
operations	$	0.75	$	1.01	$	1.24	$	1.02	$	0.72	$	(1.37)	$	0.97	$	(0.70)
Income (loss) from discontinued
operations	$	-	$	-	$	-	$	-	$	-	$	(0.04)	$	0.06	$	-
Weighted average shares
outstanding:
Basic	875,383,084		907,951,597		876,382,884		903,215,488		877,009,495		895,237,359		878,210,228		887,508,718
Diluted	877,512,244		925,266,577		888,325,042		916,572,481		895,814,410		895,237,359		896,380,725		887,508,718
Noteworthy quarterly items -
(income) expense:
Prior year unfavorable (favorable)
development		(15)		(40)		(132)		(26)		(74)		949		(119)		546
Restructuring and other costs		47		24		60		200		67		35		44		136

*For the three-month period ended December 31, 2018, our results include out of period adjustments relating to prior periods that decreased Net income attributable to AIG common shareholders by $87 million, and decreased Income from continuing operations before income taxes by $132 million. The out of period adjustments for the three-month period are primarily related to decreases in Premiums and decreases in Net realized capital gains and losses. We determined that these adjustments were not material to the current quarter or to any previously reported quarterly financial statements. Had these adjustments been recorded in their appropriate periods, Net income attributable to AIG common shareholders for the three-month period ended September 30, 2018 would have decreased by $40 million with no impact to the three-month periods ended June 30, 2018 and March 31, 2018, respectively.