AIG General Insurance and Life & Retirement Earnings
Non-GAAP Reconciliations
Adjusted Pre-tax and After-tax Income - Consolidated
(in millions)
Pre-tax income (loss) from continuing operations
Adjustments to arrive at Adjusted pre-tax income
Changes in fair value of securities used to hedge guaranteed living benefits
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized gains (losses)
Changes in the fair value of equity securities
Loss on extinguishment of debt
Net investment income on Fortitude Re funds withheld assets
Net realized gains on Fortitude Re funds withheld assets
Net realized losses on Fortitude Re funds withheld
embedded derivative
Net realized losses (a)
Loss from divested businesses
Favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements
Net loss reserve discount charge
Integration and transaction costs associated with acquiring or divesting
businesses
Restructuring and other costs
Non-recurring costs related to regulatory or accounting changes
Adjusted pre-tax income
Quarterly
2Q20
2Q21
(9,661) $
147
(16)
(13)
(255)
(120)
(56)
13
106
(116)
(507)
(96)
(173)
837
2,056
1,607
59
8,412
1
(33)
16
(65)
22
4
35
134
126
14
21
$
791
$
1.708
(a) Includes all net realized gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying
AIG (economic) hedging or for asset replication and net realized gains and losses on Fortitude Re funds withheld assets.
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