Investor Presentaiton
Changes to Non-GAAP Measures (continued)
(in millions)
After-tax net income (loss), including noncontrolling interests
Noncontrolling interests (income) loss
Net income (loss) attributable to AIG
Dividends on preferred stock
Net income (loss) attributable to AIG common shareholders
Adjustments to arrive at Adjusted after-tax income (loss) (amounts net of tax,
at U.S. statutory tax rate for each respective period, except where noted):
Changes in uncertain tax positions and other tax adjustments (a)
Deferred income tax valuation allowance (releases) charges (b)
Changes in fair value of securities used to hedge guaranteed living benefits
Changes in benefit reserves and DAC, VOBA and SIA related to
met realized capital gains (losses)
Changes in the fair value of equity securities
Loss (gain) on extinguishment of debt
Net investment income on Fortitude Re funds withheld assets(c)
Net realized capital (gains) losses on Fortitude Re funds withheld assets(c)
Net realized capital (gains) losses on Fortitude Re funds withheld embedded derivative(c)
Net realized capital (gains) losses (d)(e)
(Income) loss from discontinued operations and divested businesses (e)
Non-operating litigation reserves and settlements
Unfavorable (favorable) prior year development and related amortization
changes ceded under retroactive reinsurance agreements
Net loss reserve discount (benefit) charge
Integration and transaction costs associated with acquired businesses
Restructuring and other costs
Non-recurring costs related to regulatory or accounting changes
Noncontrolling interests primarily related to net realized capital gains (losses)
of Fortitude Holdings' standalone results (f)
Adjusted after-tax income (loss) attributable to AIG common shareholders
2020
(7,766)
(162)
S
(7,928)
g
$
(7,936)
◉
206
(183)
(12)
(202)
(44)
◉
(92)
(76)
661
1,250
6,756
(26)
13
3
106
11
136
571
Adjusted After-tax Income
Updated to exclude NII on Fortitude Re
FWA
Change in presentation of RCGL -
RCGL continues to be excluded from
APTI, but the Fortitude Re FWA and
embedded derivative are identified
separately
(in millions, except per common share data)
Book Value Per Common Share
Total AIG shareholders' equity
Less: Preferred equity
Adjusted Book Value per Share
2Q20
S
62,234
485
Total AIG common shareholders' equity (a)
Less: Accumulated other comprehensive income (AOCI)
61,749
9,169
Add: Cumulative unrealized gains and losses related to Fortitude Re's
Funds Withheld Assets
◉
4,215
Updated to exclude the cumulative
Total AIG common shareholders' equity, excluding AOCI adjusted for
the cumulative unrealized gains and losses related to Fortitude Re's
Funds Withheld Assets (b)
56,795
Less: Deferred tax assets (DTA)*
Total adjusted common shareholders' equity (c)
8,643
48,152
Total common shares outstanding (d)
861.4
Book value per common share (a-d)
S
71.68
unrealized gains and losses related to
Fortitude Re's FWA since these fair
value movements are economically
transferred to Fortitude Re
Book value per common share, excluding AOCI adjusted for the cumulative
unrealized gains and losses related to Fortitude Re's
Funds Withheld Assets (b-d)
Adjusted book value per common share (c+d)
65.93
55.90
AIG
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