AMERICAN INTERNATIONAL GROUP INC
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 1, 2024
Contents
Debt
AIG expects to service and repay general borrowings through maturing investments and dispositions of invested assets, future cash flows from operations, cash flows generated from invested assets, future debt or preferred stock issuances and other financing arrangements.
The following table provides the rollforward of AIG’s total debt outstanding:
| Six Months Ended June 30, 2024 | Balance,Beginningof Year | Issuances | MaturitiesandRepayments | Effect ofForeignExchange | OtherChanges | Balance,End ofPeriod |
|---|---|---|---|---|---|---|
| (in millions) | ||||||
| Debt issued or guaranteed: | ||||||
| General borrowings: | ||||||
| Notes and bonds payable | $9,079 | $— | $(460) | $(31) | $14 | $8,602 |
| Junior subordinated debt | 992 | — | (4) | (1) | — | 987 |
| AIG Japan Holdings Kabushiki Kaisha | 267 | — | — | (33) | — | 234 |
| Total general borrowings | 10,338 | — | (464) | (65) | 14 | 9,823 |
| Borrowings supported by assets: | ||||||
| Notes and bonds payable | 19 | — | — | — | — | 19 |
| Series AIGFP matched notes and bonds payable | 18 | — | — | — | — | 18 |
| Total borrowings supported by assets | 37 | — | — | — | — | 37 |
| Other subsidiaries' notes, bonds, loans and mortgages payable - not guaranteed by AIG | — | 1 | — | — | — | 1 |
| Total long-term debt | $10,375 | $1 | $(464) | $(65) | $14 | $9,861 |
| Debt of consolidated investment entities - not guaranteed by AIG(a) | $231 | $— | — | — | (152)(b) | $79 |
(a)At June 30, 2024, includes debt of consolidated investment entities primarily related to real estate investments of $79 million. At December 31, 2023, includes debt of consolidated investment entities related to real estate investments of $79 million and other securitization vehicles of $152 million.
(b)Includes the effect of consolidating previously unconsolidated partnerships.
| 98 | AIG | Second Quarter 2024 Form 10-Q |
Debt Maturities
The following table summarizes maturing long-term debt at June 30, 2024 of AIG for the next four quarters:
| ThirdQuarter · FourthQuarter · FirstQuarter · SecondQuarter | |||||
|---|---|---|---|---|---|
| (in millions) | 2024 | 2024 | 2025 | 2025 | Total |
| General borrowings | $— | $— | $234 | $146 | $380 |
The following table presents maturities of long-term debt (including unamortized original issue discount, hedge accounting valuation adjustments and fair value adjustments, when applicable):
| June 30, 2024 | Year Ending | ||||||
|---|---|---|---|---|---|---|---|
| (in millions) | Total | 2025 | 2026 | 2027 | 2028 | 2029 | Thereafter |
| Debt issued or guaranteed: | |||||||
| General borrowings: | |||||||
| Notes and bonds payable | $8,602 | $146 | $264 | $878 | $340 | $191 | $6,783 |
| Junior subordinated debt | 987 | — | — | — | — | — | 987 |
| AIG Japan Holdings Kabushiki Kaisha | 234 | 234 | — | — | — | — | — |
| Total general borrowings | 9,823 | 380 | 264 | 878 | 340 | 191 | 7,770 |
| Borrowings supported by assets: | |||||||
| Notes and bonds payable | 19 | 12 | 7 | — | — | — | — |
| Series AIGFP matched notes and bonds payable | 18 | — | — | — | — | — | 18 |
| Total borrowings supported by assets | 37 | 12 | 7 | — | — | — | 18 |
| Total debt issued or guaranteed | 9,860 | 392 | 271 | 878 | 340 | 191 | 7,788 |
| Other subsidiaries notes, bonds, loans and mortgages payable | 1 | — | — | — | 1 | — | — |
| Total* | $9,861 | $392 | $271 | $878 | $341 | $191 | $7,788 |
*Does not reflect $79 million of notes issued by consolidated investment entities, for which recourse is limited to the assets of the respective investment entities and for which there is no recourse to the general credit of AIG.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.