DEBT (Tables)

12 Months Ended

Dec. 31, 2021

DEBT

Schedule of total debt outstanding

				Balance at		Balance at
At December 31, 2021	Range of	Maturity		December 31,		December 31,
(in millions)	Interest Rate(s)	Date(s)			2021		2020
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable	0% - 8.13%		2022 - 2055	$	19,633	$	23,068
Junior subordinated debt	4.88% - 8.18%		2037 - 2058		1,164		1,561
AIG Japan Holdings Kabushiki Kaisha	0.20% - 0.35%		2023 - 2025		333		361
AIGLH notes and bonds payable	6.63% - 7.50%		2025 - 2029		199		282
AIGLH junior subordinated debt	7.57% - 8.50%		2030 - 2046		227		361
Validus notes and bonds payable	8.88%		2040		293		348
Total AIG general borrowings					21,849		25,981
AIG borrowings supported by assets:(a)
Series AIGFP matched notes and bonds payable	0.175% - 0.18%		2046		18		21
GIAs, at fair value	0.00% - 7.15%		2022 - 2047		1,803		2,033
Notes and bonds payable, at fair value	0.50% - 10.37%		2030 - 2037		68		64
Total AIG borrowings supported by assets					1,889		2,118
Total debt issued or guaranteed by AIG					23,738		28,099
Other subsidiaries notes, bonds, loans and mortgages
payable - not guaranteed by AIG	2.76% - 5.70%		2022 - 2024		3		4
Total long-term debt					23,741		28,103
Debt of consolidated investment entities - not guaranteed by AIG(b)	0% - 7.95%		2022 - 2051		6,422		9,431
Total debt				$	30,163	$	37,534

(a) AIG Parent guarantees all such debt, except for Series AIGFP matched notes and bonds payable, which are direct obligations of AIG Parent. Collateral posted to third parties was $1.4 billion at both December 31, 2021 and December 31, 2020, respectively. This collateral primarily consists of securities of the U.S. government and government sponsored entities and generally cannot be repledged or resold by the counterparties.(b)At December 31, 2021, includes debt of consolidated investment entities primarily related to real estate investments of $1.9 billion and other securitization vehicles of $4.5 billion. At December 31, 2020, includes debt of consolidated investment entities related to real estate investments of $3.1 billion, affordable housing partnership investments of $2.3 billion and other securitization vehicles of $4.0 billion.

Maturities of long-term debt, excluding borrowings of debt of consolidated investments

December 31, 2021			Year Ending
(in millions)		Total		2022		2023		2024		2025		2026		Thereafter
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable	$	19,633	$	17	$	1,614	$	999	$	2,752	$	1,543	$	12,708
Junior subordinated debt		1,164		-		-		-		-		-		1,164
AIG Japan Holdings Kabushiki Kaisha		333		-		218		-		115		-		-
AIGLH notes and bonds payable		199		-		-		-		101		-		98
AIGLH junior subordinated debt		227		-		-		-		-		-		227
Validus notes and bonds payable		293		-		-		-		-		-		293
Total AIG general borrowings		21,849		17		1,832		999		2,968		1,543		14,490
AIG borrowings supported by assets:
Series AIGFP matched notes and
bonds payable		18		-		-		-		-		-		18
GIAs, at fair value		1,803		50		124		146		571		100		812
Notes and bonds payable, at fair value		68		-		-		-		-		-		68
Total AIG borrowings supported by assets		1,889		50		124		146		571		100		898
Total debt issued or guaranteed by AIG		23,738		67		1,956		1,145		3,539		1,643		15,388
Debt not guaranteed by AIG:
Other subsidiaries notes, bonds, loans
and mortgages payable		3		1		2		-		-		-		-
Total debt not guaranteed by AIG		3		1		2		-		-		-		-
Total*	$	23,741	$	68	$	1,958	$	1,145	$	3,539	$	1,643	$	15,388

*Does not reflect $6.4 billion of notes issued by consolidated investment entities, for which recourse is limited to the assets of the respective investment entities and for which there is no recourse to the general credit of AIG.

Schedule of detail for uncollateralized and collateralized notes, bonds, loans and mortgages payable

		Uncollateralized		Collateralized
At December 31, 2021		Notes/Bonds/Loans		Loans and
(in millions)		Payable		Mortgages Payable		Total
AIG general borrowings	$	333	$	-	$	333
Other subsidiaries notes, bonds, loans and mortgages payable*		-		3		3
Total	$	333	$	3	$	336

*AIG does not guarantee any of these borrowings.

Summary of Credit Facility

At December 31, 2021				Available		Effective
(in millions)		Size		Amount	Expiration	Date
Syndicated Credit Facility	$	4,500	$	4,500	November 2026	11/19/2021