2013 Q3 Form 10-Q Financial Statement

#000104746913010141 Filed on October 31, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $15.94B $17.87B
YoY Change -10.75% 40.46%
Cost Of Revenue $7.416B $8.002B
YoY Change -7.32% -3.97%
Gross Profit $8.528B $9.863B
YoY Change -13.54% 124.87%
Gross Profit Margin 53.49% 55.21%
Selling, General & Admin $2.251B $2.214B
YoY Change 1.67% 7.11%
% of Gross Profit 26.4% 22.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.220B $1.522B
YoY Change -19.84% -1.17%
% of Gross Profit 14.31% 15.43%
Operating Expenses $2.251B $2.214B
YoY Change 1.67% 7.11%
Operating Profit $6.277B $7.649B
YoY Change -17.94% 229.84%
Interest Expense $516.0M $602.0M
YoY Change -14.29% -37.94%
% of Operating Profit 8.22% 7.87%
Other Income/Expense, Net $1.239B $635.0M
YoY Change 95.12% -27.51%
Pretax Income $1.178B $2.595B
YoY Change -54.61% -160.77%
Income Tax -$970.0M $734.0M
% Of Pretax Income -82.34% 28.29%
Net Earnings $2.170B $1.856B
YoY Change 16.92% -146.52%
Net Earnings / Revenue 13.61% 10.39%
Basic Earnings Per Share $1.47 $1.13
Diluted Earnings Per Share $1.46 $1.13
COMMON SHARES
Basic Shares Outstanding 1.475B shares 1.642B shares
Diluted Shares Outstanding 1.485B shares 1.643B shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $34.93B
YoY Change -2.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $358.3B $375.2B
YoY Change -4.5% -0.57%
Other Assets $52.69B $16.41B
YoY Change 221.06% 329.18%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $540.7B $550.7B
YoY Change -1.81% 1.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $42.23B $73.75B
YoY Change -42.74% -4.7%
Other Long-Term Liabilities $59.54B $36.22B
YoY Change 64.38% 3.51%
Total Long-Term Liabilities $101.8B $110.0B
YoY Change -7.45% -2.15%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $101.8B $110.0B
Total Liabilities $441.2B $448.2B
YoY Change -1.54% -2.2%
SHAREHOLDERS EQUITY
Retained Earnings $21.14B
YoY Change
Common Stock $85.26B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $14.12B
YoY Change
Treasury Stock Shares 434.3M shares 430.3M shares
Shareholders Equity $98.79B $101.7B
YoY Change
Total Liabilities & Shareholders Equity $540.7B $550.7B
YoY Change -1.81% 1.19%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $2.170B $1.856B
YoY Change 16.92% -146.52%
Depreciation, Depletion And Amortization $1.220B $1.522B
YoY Change -19.84% -1.17%
Cash From Operating Activities $2.275B $1.207B
YoY Change 88.48% -48.62%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $447.0M $8.287B
YoY Change -94.61% -594.75%
Cash From Investing Activities $447.0M $8.287B
YoY Change -94.61% -594.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.417B -9.133B
YoY Change -73.54% 427.92%
NET CHANGE
Cash From Operating Activities 2.275B 1.207B
Cash From Investing Activities 447.0M 8.287B
Cash From Financing Activities -2.417B -9.133B
Net Change In Cash 305.0M 361.0M
YoY Change -15.51% -134.19%
FREE CASH FLOW
Cash From Operating Activities $2.275B $1.207B
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Proceeds From Sale And Maturity Of Other Investments
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CY2012Q3 us-gaap Cash
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us-gaap Revenues
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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN-TOP: 0pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 10pt;"><font color="#01415B" size="2"><b>Use of Estimates</b></font></p> <p style="BORDER-BOTTOM: #055a8d 1pt dotted; MARGIN-TOP: 0pt; FONT-FAMILY: arial;"><font style=" FONT-SIZE: 4pt;"><!-- INSERTING DOTTED RULE -->&#160;</font></p> <p style="FONT-FAMILY: arial;"><font size="2">The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involves a significant degree of judgment. Accounting policies that are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of:</font></p> <dl compact="compact"> <dt style="FONT-FAMILY: arial; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: arial;"><font size="2">classification of International Lease Finance Corporation (ILFC) as held for sale and related fair value measurement;</font> <font size="2"><br /> <br /></font></dd> <dt style="FONT-FAMILY: arial; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: arial;"><font size="2">insurance liabilities, including property casualty and mortgage guaranty unpaid claims and claims adjustment expense and future policy benefits for life and accident and health contracts;</font> <font size="2"><br /> <br /></font></dd> <dt style="FONT-FAMILY: arial; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: arial;"><font size="2">income tax assets and liabilities, including recoverability of our net deferred tax asset and the predictability of future tax operating profitability of the character necessary to realize the net deferred tax asset;</font> <font size="2"><br /> <br /></font></dd> <dt style="FONT-FAMILY: arial; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: arial;"><font size="2">recoverability of assets, including reinsurance assets;</font></dd></dl> <dl compact="compact"> <dt style="FONT-FAMILY: arial; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: arial;"><font size="2">estimated gross profits for investment-oriented products;</font> <font size="2"><br /> <br /></font></dd> <dt style="FONT-FAMILY: arial; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: arial;"><font size="2">other-than-temporary impairments of financial instruments;</font> <font size="2"><br /> <br /></font></dd> <dt style="FONT-FAMILY: arial; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: arial;"><font size="2">liabilities for legal contingencies; and</font> <font size="2"><br /> <br /></font></dd> <dt style="FONT-FAMILY: arial; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: arial;"><font size="2">fair value measurements of certain financial assets and liabilities.</font></dd></dl> <p style="FONT-FAMILY: arial;"><font size="2">These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.</font></p> </div>
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Issues
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Issues
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us-gaap Available For Sale Securities Gross Realized Gain Loss Net
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dei Entity Registrant Name
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AMERICAN INTERNATIONAL GROUP INC
dei Entity Central Index Key
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dei Document Type
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dei Document Period End Date
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2013-09-30
dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Entity Current Reporting Status
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dei Entity Filer Category
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dei Document Fiscal Period Focus
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Transition Asset Obligation Before Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Continuing Operations
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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5403839 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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78000000 shares
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Effective Income Tax Rate Continuing Operations
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0.152 pure
CY2013Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2012Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35 pure
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2100000000 USD
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200000000 USD
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800000000 USD
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us-gaap Gains Losses On Extinguishment Of Debt
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CY2013Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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4600000000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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4200000000 USD
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us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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P12M
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CY2013Q3 us-gaap Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense
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CY2013Q3 us-gaap Minority Interest
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us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
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us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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1600000000 USD
CY2013Q3 us-gaap Policyholder Contract Deposits
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100000000 USD
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CY2013Q3 us-gaap Income Tax Expense Benefit
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CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Interest Paid
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us-gaap Income Tax Expense Benefit
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us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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150000000 USD
us-gaap Proceeds From Issuance Of Other Long Term Debt
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2013Q3 us-gaap Available For Sale Securities Equity Securities
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CY2013Q3 us-gaap Trading Securities Equity
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases Sales Issuances Settlements
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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CY2013Q3 us-gaap Other Comprehensive Income Loss Tax
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us-gaap Other Comprehensive Income Loss Tax
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CY2012Q4 us-gaap Commitments And Contingencies
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CY2013Q3 us-gaap Commitments And Contingencies
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CY2013Q3 aig Cash Discontinued Operations
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-23000000 USD
CY2013Q3 aig Other Comprehensive Income Unrealized Holding Gain Loss On All Investments Other Than Investments On Which Other Than Temporary Impairments Were Taken After Taxes
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CY2013Q3 aig Comprehensive Income Loss Net Of Tax Attributable To Noncontrolling Interests Other
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnFixedMaturityInvestmentsOnWhichOtherThanTemporaryImpairmentsWereTakenAfterTaxes
172000000 USD
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InterestCreditedToPolicyholderAccountsIncludedInFinancingActivities
2977000000 USD
CY2013Q3 us-gaap Premiums Earned Net
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CY2013Q3 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
645000000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
27924000000 USD
us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
1883000000 USD
CY2013Q3 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
33000000 USD
CY2013Q3 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest Availableforsale Securities
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6000000 USD
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39000000 USD
CY2013Q3 aig Net Gain Loss Excluding Available For Sale Impairments
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291000000 USD
CY2013Q3 us-gaap Other Assets
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8736000000 USD
CY2013Q3 us-gaap Other Policyholder Funds
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5115000000 USD
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
90000000 USD
us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest Availableforsale Securities
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17000000 USD
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
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107000000 USD
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2250000000 USD
CY2013Q3 us-gaap Other Income
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1004000000 USD
us-gaap Other Income
OtherIncome
4498000000 USD
CY2013Q3 us-gaap Policyholder Benefits And Claims Incurred Net
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7416000000 USD
CY2013Q3 us-gaap Interest Credited To Policyholders Account Balances
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924000000 USD
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1220000000 USD
CY2013Q3 us-gaap Selling General And Administrative Expense
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PolicyholderBenefitsAndClaimsIncurredNet
22234000000 USD
us-gaap Interest Credited To Policyholders Account Balances
InterestCreditedToPolicyholdersAccountBalances
2913000000 USD
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
3859000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6734000000 USD
us-gaap Other Expenses
OtherExpenses
3044000000 USD
CY2013Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.10
CY2013Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount
1000000000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
192000000 USD
CY2013Q3 us-gaap Other Investments
OtherInvestments
29168000000 USD
CY2013Q3 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
3008000000 USD
CY2013Q3 us-gaap Premiums And Other Receivables Net
PremiumsAndOtherReceivablesNet
13715000000 USD
CY2013Q3 aig Reinsurance Assets Net Of Allowance
ReinsuranceAssetsNetOfAllowance
26264000000 USD
CY2013Q3 aig Current And Deferred Income Taxes
CurrentAndDeferredIncomeTaxes
21671000000 USD
CY2013Q3 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
9188000000 USD
CY2013Q3 us-gaap Common Stock Value
CommonStockValue
4766000000 USD
CY2013Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
80497000000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
21136000000 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
6509000000 USD
aig Change In Premiums And Insurance Balances Receivable And Payable Net
ChangeInPremiumsAndInsuranceBalancesReceivableAndPayableNet
137000000 USD
aig Change In Reinsurance Assets And Funds Held Under Reinsurance Treaties
ChangeInReinsuranceAssetsAndFundsHeldUnderReinsuranceTreaties
336000000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
4412000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
236000000 USD
aig Proceeds From Sale Of Trading Securities In Investing Activities
ProceedsFromSaleOfTradingSecuritiesInInvestingActivities
4174000000 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
3942000000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
19907000000 USD
aig Payments Received On Mortgage And Other Loans Receivable
PaymentsReceivedOnMortgageAndOtherLoansReceivable
2688000000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
50639000000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
3585000000 USD
aig Mortgage And Other Loans Receivable Issued
MortgageAndOtherLoansReceivableIssued
3109000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
869000000 USD
CY2013Q3 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Asset
EmbeddedDerivativeFairValueOfEmbeddedDerivativeAsset
4000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
192000000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
147000000 USD
aig Other Comprehensive Income Loss Excluding Amount Attributable To Redeemable Noncontrolling Interests
OtherComprehensiveIncomeLossExcludingAmountAttributableToRedeemableNoncontrollingInterests
-6071000000 USD
aig Noncontrolling Interest Increase From Deconsolidation
NoncontrollingInterestIncreaseFromDeconsolidation
1000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-91000000 USD
CY2013Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4000000 shares
CY2013Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
192000000 USD
CY2012Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
200000000 USD

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