Subsequent Events

3 Months Ended

Mar. 31, 2014

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Conversions of shares of AAG Series A Preferred Stock into shares of AAG Common Stock subsequent to the reporting date consisted of the remaining optional and mandatory conversions through April 8, 2014. These conversions are presented in the table below (in thousands):

Conversion date	Conversion type	Shares converted	Increase (decrease) in AAG preferred shares outstanding	Increase (decrease) in AAG common shares outstanding
April 1, 2014	Optional	30	(30)	23
April 2, 2014	Optional	294	(294)	222
April 8, 2014	Mandatory	17,230	(17,230)	13,007
		17,554	(17,554)	13,252

On April 8, 2014, the Company satisfied all of the AAG Series A Preferred Stock obligations, the Single-Dip equity obligations and the majority of the labor related deemed claim. After the April 8, 2014 distribution date, the Company had an obligation recorded related to the accrued Disputed Claims Reserve of approximately $335 million, which includes an amount expected to be issued to labor assuming the fully accrued Disputed Claims Reserve is allowed by the court and distributed. Allowed claims will receive 30.7553 shares, subject to reduction for expenses of the Disputed Claims Reserve, including tax liabilities, for each $1,000 of allowed claims. Accordingly, increases in the trading price of AAG Common Stock after March 31, 2014 could cause an increase in the value of the Disputed Claims Reserve, and vice-versa.

Shares distributed as of April 8, 2014, in settlement of the Company's bankruptcy settlement obligations, are presented in the table below (in thousands):

Conversion date	Preferred conversion	Single-dip distribution	Labor distribution	Legacy AAMRQ holders	Increase in AAG Common Shares outstanding
April 8, 2014	13,252	48,219	8,902	72,383	142,756