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Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Premiums $ 6,677 $ 7,617 $ 21,527 $ 23,117
Policy fees 648 733 2,152 2,237
Net investment income 3,800 3,408 9,674 11,032
Net realized capital gains (losses) (1,122) 929 65 887
Other income 218 227 642 658
Total revenues 10,221 12,914 34,060 37,931
Benefits, losses and expenses:        
Policyholder benefits and losses incurred 5,872 6,892 18,718 19,373
Interest credited to policyholder account balances 882 966 2,757 2,873
Amortization of deferred policy acquisition costs 707 1,252 3,323 3,980
General operating and other expenses 1,991 2,187 6,231 6,380
Interest expense 379 348 1,099 1,057
(Gain) loss on extinguishment of debt (2) 0 15 13
Net loss on sale of divested businesses 24 9 8,652 4
Total benefits, losses and expenses 9,853 11,654 40,795 33,680
Income (loss) from continuing operations before income tax expense (benefit) 368 1,260 (6,735) 4,251
Income tax expense (benefit) 74 287 (918) 950
Income (loss) from continuing operations 294 973 (5,817) 3,301
Income (loss) from discontinued operations, net of income taxes 5 0 4 (1)
Net income (loss) 299 973 (5,813) 3,300
Less:        
Net income from continuing operations attributable to noncontrolling interests 11 317 78 881
Net income (loss) attributable to AIG 288 656 (5,891) 2,419
Less: Dividends on preferred stock 7 8 22 15
Net income (loss) attributable to AIG common shareholders $ 281 $ 648 $ (5,913) $ 2,404
Basic:        
Income (loss) from continuing operations $ 0.31 $ 0.74 $ (6.80) $ 2.74
Income (loss) from discontinued operations 0.01 0 0 0
Net income (loss) attributable to AIG common shareholders 0.32 0.74 (6.80) 2.74
Diluted:        
Income (loss) from continuing operations 0.31 0.72 (6.80) 2.71
Income (loss) from discontinued operations 0.01 0 0 0
Net income (loss) attributable to AIG common shareholders $ 0.32 $ 0.72 $ (6.80) $ 2.71
Weighted average shares outstanding:        
Basic 867,713,308 877,009,495 869,627,926 876,262,372
Diluted 873,130,950 895,814,410 869,627,926 887,221,116
Excluding Fortitude Re funds withheld assets        
Revenues:        
Net investment income $ 3,342 $ 3,408 $ 9,100 $ 11,032
Net realized capital gains (losses) (498) 929 1,430 887
Fortitude Re funds withheld assets        
Revenues:        
Net investment income [1] 458 0 574 0
Net realized capital gains (losses) [1] 32 0 128 0
Fortitude Re funds withheld embedded derivative        
Revenues:        
Net realized capital gains (losses) [1] $ (656) $ 0 $ (1,493) $ 0
[1] Represents activity subsequent to the deconsolidation of Fortitude Re on June 2, 2020.