Investor Presentaiton
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 (loss)
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 capital gains (losses)
Changes in the fair value of equity securities
Loss on extinguishment of debt
Net investment income on Fortitude Re funds withheld assets (a)
Net realized capital (gains) losses on Fortitude Re funds withheld assets (a)
Net realized capital (gains) losses on Fortitude Re funds withheld embedded derivative (a)
Net realized capital (gains) losses (b)
Loss from divested businesses
Non-operating litigation reserves and settlements
Favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements
Net loss reserve discount charge
Integration and transaction costs associated with acquired businesses
Restructuring and other costs
Non-recurring costs related to regulatory or accounting changes
Adjusted pre-tax income
AIG
Quarterly
2Q19
2Q20
$
1,837 $
(9,661)
(75)
(16)
22
22
73
(255)
(56)
15
(116)
(96)
837
(351)
1,619
1
8,412
(125)
(33)
212
16
6
4
60
134
2
14
$
1.677
$
803
(a) Represents activity subsequent to the deconsolidation of Fortitude Re on June 2, 2020.
(b) Includes all net realized capital gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication and net realized
gains and losses on Fortitude Re funds withheld assets.
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