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Document and Entity Information (USD $)
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12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2014
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Feb. 12, 2015
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Jun. 30, 2014
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| Document and Entity Information | |||
| Entity Registrant Name | AMERICAN INTERNATIONAL GROUP INC | ||
| Entity Central Index Key | 0000005272 | ||
| Document Type | 10-K | ||
| Document Period End Date | Dec. 31, 2014 | ||
| Amendment Flag | false | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Entity Public Float | $ 77,972,000,000 | ||
| Entity Common Stock, Shares Outstanding | 1,372,435,893 | ||
| Document Fiscal Year Focus | 2014 | ||
| Document Fiscal Period Focus | FY |
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- Details
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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| X | ||||||||||
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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| X | ||||||||||
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- Definition
The total of current income taxes and deferred income taxes. Current income taxes represent the carrying amount as of the balance sheet date of income taxes previously overpaid to tax authorities representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Deferred income taxes represent the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; net of deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. No definition available.
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| X | ||||||||||
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- Definition
Represents reinsurance assets, including amounts due from reinsurers for claims and unearned reinsurance premiums, net of an allowance for loss. No definition available.
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- Definition
Interest, dividends, rents, ancillary and other revenues earned but not yet received by the entity on its investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the sum of the carrying value of all the Assets Held-for-Sale at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of equity securities categorized neither as held-to-maturity nor as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Liability (such as a mortgage) related to a disposal group that is held for sale and anticipated to be sold in less than one year. The liability is expected to be discharged as part of the plan of sale for the asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of accrued obligation to policyholders that relates to insured events for long-duration contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after allowance and deduction of deferred interest and fees, unamortized costs and premiums and discounts from face amounts, of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Excludes loans and leases covered under loss sharing agreements and loans held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Liability as of the balance sheet date to the policyholders for funds held that are returnable under the terms of insurance contracts that were not separately reported. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The liability as of the balance sheet date to the policyholders for deposits held under the terms of insurance contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date, net of allowance for doubtful accounts, of all premiums and other types of receivables due from other persons or entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The fair value of the assets held by the Entity for the benefit of separate account policyholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of liability for variable contracts that meet specified criteria that are backed by assets held in separate accounts and carried at the fair value of those assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of investments in debt securities classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Fair value of investments in trading equity securities and other forms of trading securities that provide ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount of premiums written on insurance contracts that have not been earned as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED BALANCE SHEETS (Parenthetical - assets and liabilities) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
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Dec. 31, 2013
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|---|---|---|
| Assets: | ||
| Bonds available for sale, amortized cost | $ 243,307 | $ 248,531 |
| Common and preferred stock available for sale, cost | 1,930 | 1,726 |
| Mortgage and other loans receivable, portion measured at fair value | 6 | 0 |
| Other assets, restricted cash | 2,025 | 865 |
| Liabilities: | ||
| Long-term debt, portion measured at fair value | 5,466 | 6,747 |
| Other Policyholder Contract Deposits At Fair Value | $ 8 |
| X | ||||||||||
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- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity. The fair value of the liability as of the balance sheet date to the policyholders for deposits held under the terms of insurance contracts. No definition available.
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- Details
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| X | ||||||||||
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- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
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| X | ||||||||||
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- Definition
This item represents the cost of equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments for other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
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| X | ||||||||||
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- Definition
Fair value portion of an agreement for an unconditional promise by the maker to pay the holder a definite sum of money at a future date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED BALANCE SHEETS (Parenthetical - equity) (USD $)
In Millions, except Share data, unless otherwise specified |
Dec. 31, 2014
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Dec. 31, 2013
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|---|---|---|
| AIG shareholders' equity: | ||
| Common stock, par value (in dollars per share) | $ 2.5 | $ 2.5 |
| Common stock, shares authorized | 5,000,000,000 | 5,000,000,000 |
| Common stock, shares issued | 1,906,671,492 | 1,906,645,689 |
| Treasury stock, shares of common stock | 530,744,521 | 442,582,366 |
| Non-redeemable noncontrolling interests, associated with businesses held for sale | $ 0 | $ 100 |
| X | ||||||||||
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- Definition
The noncontrolling interest related to a disposal group that is held for sale and anticipated to be sold in less than one year. No definition available.
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| X | ||||||||||
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- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents the net realized and unrealized gains (losses), excluding impairment losses on available-for-sale securities, included in net income for the period as the result of selling or holding invested assets. This item includes the net gain or loss realized from the sale, exchange, redemption or retirement of securities and the unrealized holding gain or loss for certain invested assets. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of net income (loss) for the period allocated to noncontrolling interests, other. No definition available.
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| X | ||||||||||
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- Definition
Amount of net income (loss) for the period allocated to noncontrolling, nonvoting, callable, junior and senior preferred interests held by Federal Reserve Bank of New York and the Department of the Treasury. No definition available.
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| X | ||||||||||
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- Definition
Represents the net realized gains or (losses) on investments, including available for sale and trading securities, real estate investments, loans, and derivative instruments. Also includes other-than temporary impairment charges, the provision for loan losses, foreign currency transactions and other charges related to the valuation of these investments in the period. No definition available.
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| X | ||||||||||
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- Definition
Expenses incurred related to the lease of aircraft from outside third parties that are used in the entity's business operations. No definition available.
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| X | ||||||||||
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- Definition
The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of expense related to deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The gain (loss) resulting from the sale of a disposal group that is not a discontinued operation. It is included in income from continuing operations before income taxes in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of income (loss) from continuing operations attributable to the noncontrolling interest. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Income from agency and brokerage operations (includes sales of annuities and supplemental contracts); service charges, commissions, and fees from the sale of insurance and related services; and management fees from separate accounts, deferred annuities, and universal life products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest allocated to policyholders holding contracts under which the insurer must provide a guaranteed yield. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount by which the fair value of an investment in debt and equity securities categorized as Available-for-sale is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax of other than temporary impairment (OTTI) on investment in available-for-sale debt security, recognized in other comprehensive loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to Noncontrolling Interests, Other. No definition available.
|
| X | ||||||||||
|
- Definition
Increase of liquidation value which is attributable to noncontrolling nonvoting, callable, junior and senior preferred interests held by Federal Reserve Bank of New York. No definition available.
|
| X | ||||||||||
|
- Definition
Gross appreciation or the gross loss in value of the total of unsold fixed maturity investments other than investments which had been determined to have had an other than temporary credit impairment in fair value below its amortized cost basis at the end of an accounting period due to credit impairment, net of reclassification adjustments and taxes. No definition available.
|
| X | ||||||||||
|
- Definition
Gross appreciation or the gross loss in value of the total of unsold fixed maturity investments which had been determined to have had an other than temporary credit impairment in fair value below its amortized cost basis at the end of an accounting period, net of reclassification adjustments and taxes. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of (increase) decrease in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
CONSOLIDATED STATEMENTS OF EQUITY (USD $)
In Millions, unless otherwise specified |
Total
|
Total AIG Shareholders' Equity
|
Common Stock
|
Treasury Stock
|
Additional Paid-in Capital
|
Retained Earnings
|
Accumulated Other Comprehensive Income
|
Non redeemable Non-controlling Interests
|
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at Dec. 31, 2011 | $ 102,393 | $ 101,538 | $ 4,766 | $ (942) | $ 80,459 | $ 10,774 | $ 6,481 | $ 855 | |||||||
| Increase (Decrease) in Stockholders' Equity | |||||||||||||||
| Common stock issued under stock plans | 3 | 3 | 18 | (15) | |||||||||||
| Purchase of common stock | (13,000) | (13,000) | 0 | (13,000) | 0 | 0 | 0 | 0 | |||||||
| Net income attributable to AIG or other noncontrolling interests | 3,478 | [1] | 3,438 | [1] | 0 | 0 | 0 | 3,438 | [1] | 0 | 40 | [1] | |||
| Other comprehensive income (loss) | 6,092 | 6,093 | 0 | 0 | 0 | 0 | 6,093 | (1) | |||||||
| Deferred income taxes | (9) | (9) | 0 | 0 | (9) | 0 | 0 | 0 | |||||||
| Net decrease due to deconsolidation | (27) | 0 | 0 | 0 | 0 | 0 | 0 | (27) | |||||||
| Contributions from noncontrolling interests | 80 | 0 | 0 | 0 | 0 | 0 | 0 | 80 | |||||||
| Distributions to noncontrolling interests | (167) | 0 | 0 | 0 | 0 | 0 | 0 | (167) | |||||||
| Other | (174) | (61) | 0 | 0 | (25) | (36) | 0 | (113) | |||||||
| Balance at Dec. 31, 2012 | 98,669 | 98,002 | 4,766 | (13,924) | 80,410 | 14,176 | 12,574 | 667 | |||||||
| Increase (Decrease) in Stockholders' Equity | |||||||||||||||
| Purchase of common stock | (597) | (597) | (597) | 0 | 0 | 0 | 0 | ||||||||
| Net income attributable to AIG or other noncontrolling interests | 9,090 | [1] | 9,085 | [1] | 0 | 0 | 9,085 | [1] | 0 | [1] | 5 | [1] | |||
| Dividends | 294 | 294 | 294 | ||||||||||||
| Other comprehensive income (loss) | (6,219) | (6,214) | 0 | 0 | 0 | (6,214) | (5) | ||||||||
| Deferred income taxes | 355 | 355 | 0 | 355 | 0 | 0 | 0 | ||||||||
| Contributions from noncontrolling interests | 33 | 0 | 0 | 0 | 0 | 0 | 33 | ||||||||
| Distributions to noncontrolling interests | (81) | 0 | 0 | 0 | 0 | 0 | (81) | ||||||||
| Other | 125 | 133 | 1 | 134 | (2) | 0 | (8) | ||||||||
| Balance at Dec. 31, 2013 | 101,081 | 100,470 | 4,766 | (14,520) | 80,899 | 22,965 | 6,360 | 611 | |||||||
| Increase (Decrease) in Stockholders' Equity | |||||||||||||||
| Purchase of common stock | (4,698) | (4,698) | (4,698) | 0 | 0 | 0 | 0 | ||||||||
| Net income attributable to AIG or other noncontrolling interests | 7,524 | [1] | 7,529 | [1] | 0 | 0 | 7,529 | 0 | (5) | ||||||
| Dividends | (712) | (712) | 0 | 0 | (712) | 0 | 0 | ||||||||
| Other comprehensive income (loss) | 4,257 | 4,257 | 0 | 0 | 0 | 4,257 | 0 | ||||||||
| Deferred income taxes | (10) | (10) | 0 | (10) | 0 | 0 | 0 | ||||||||
| Net decrease due to deconsolidation | (99) | (99) | |||||||||||||
| Contributions from noncontrolling interests | 17 | 0 | 0 | 0 | 0 | 0 | 17 | ||||||||
| Distributions to noncontrolling interests | (147) | 0 | 0 | 0 | 0 | 0 | (147) | ||||||||
| Other | 59 | 62 | 0 | 69 | (7) | 0 | (3) | ||||||||
| Balance at Dec. 31, 2014 | $ 107,272 | $ 106,898 | $ 4,766 | $ (19,218) | $ 80,958 | $ 29,775 | $ 10,617 | $ 374 | |||||||
|
|||||||||||||||
| X | ||||||||||
|
- Definition
Deferred tax on component of shareholders' equity. No definition available.
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest, excluding the net gain associated with Redeemable Noncontrolling Interests. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents Other Comprehensive Income (Loss), Net of Tax, for the period. Includes deferred gains (losses) on qualifying hedges, unrealized holding gains (losses) on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of paid and unpaid common stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the reduction or elimination during the period of a noncontrolling interest resulting from the parent's loss of control and deconsolidation of the entity in which one or more outside parties had a noncontrolling interest. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of increase in noncontrolling interest from sale of a portion of the parent's controlling interest. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents movements included in the statement of changes in stockholders' equity which are not separately disclosed or provided for elsewhere in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
Equity impact of the value of treasury stock (units) reissued during the period, excluding reissuance of shares (units) held in treasury used to satisfy equity-based compensation obligations exercised by the holders of such rights. Upon reissuance of shares (units) from treasury, either the common or preferred stock (unit) reissued is outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Currency on hand as well as demand deposits with banks or financial institutions pertaining to discontinued operations. No definition available.
|
| X | ||||||||||
|
- Definition
Represents (a) changes in the carrying amount, net of allowance for doubtful accounts, of all premiums and other types of receivables due from other persons or entities and (b) changes in the carrying amount of the following combination (1) the known and estimated amounts owed to insurers under reinsurance treaties or other arrangements and (2) any reserves for outstanding life insurance and accident and health claims, net of applicable reinsurance. No definition available.
|
| X | ||||||||||
|
- Definition
The net change in the beginning and end of period of property casualty and life insurance reserve balances; shall be classified as cash flows from operating activities. No definition available.
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the amount of benefits the ceding insurer expects to recover on insurance policies ceded to other insurance entities as of the balance sheet date for all guaranteed benefit types and the change in funds held under reinsurance agreements or treaty (contract between the reinsurer and the ceding entity stipulating the manner in which insurance written on various risks is to be shared). No definition available.
|
| X | ||||||||||
|
- Definition
Net gains and losses on sales of securities available for sale and other assets. No definition available.
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) during the reporting period related to the current and deferred income taxes. No definition available.
|
| X | ||||||||||
|
- Definition
The cash flows associated with short-term investments, which consist of interest-bearing cash equivalents, time deposits, and investments with original maturities within one year from the date of purchase, such as commercial paper. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow associated with mortgage loans on real estate, policy loans and collateral, commercial and guaranteed loans. No definition available.
|
| X | ||||||||||
|
- Definition
The (gain) loss resulting from the sale of a disposal group that is not a discontinued operation; shall be classified as cash flows from operating activities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The cash inflow associated with mortgage loans on real estate, policy loans and collateral, commercial and guaranteed loans. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of trading securities that are part of the entity's investing activities. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale of trading securities that are part of the entity's investing activities. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents cash outflows for repayments of SPV preferred interest during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
The net total of all unrealized gains/losses included in earnings. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow from a segregated fund account during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The sum of adjustments which are added to or deducted from net income or loss, including the portion attributable to noncontrolling interest, to reflect cash provided by or used in operating activities, in accordance with the indirect cash flow method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash. Cash is the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the undistributed income (or loss) of equity method investments, net of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations; such investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the balance sheet value of capitalized sales costs that are associated with acquiring a new insurance customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with other investments held by the entity for investment purposes not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the cash inflow during the period from the sale of a component of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The cash inflow from other long-term borrowings not otherwise defined in the taxonomy (with maturities initially due beyond one year or the normal operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with maturities (principal being due), prepayments and calls (requests of early payments) on securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale and maturity (principal being due) of other investments, prepayment and call (request of early payment) of other investments not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale of debt and equity securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow attributable to repayments of borrowings not otherwise defined in the taxonomy (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after cash payment, of expenses associated with exit or disposal activities pursuant to an authorized plan and expenses resulting from the write-down of assets. Excludes expenses related to a business combination, a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for a segregated fund account during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplementary Disclosure of Consolidated Cash Flow Information (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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| Cash paid during the period for: | |||
| Interest | $ 3,367 | $ 3,856 | $ 4,037 |
| Taxes | 737 | 796 | 447 |
| Non-cash investing/financing activities: | |||
| Interest credited to policyholder contract deposits included in financing activities | 3,904 | 3,987 | 4,501 |
| Non-cash consideration received from sale of ILFC | $ 4,586 | ||
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- Definition
Interest credited to policyholder accounts included in financing activities. No definition available.
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The value of the noncash (or part noncash) consideration received in a transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of a transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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BASIS OF PRESENTATION
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12 Months Ended |
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Dec. 31, 2014
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| BASIS OF PRESENTATION | |
| BASIS OF PRESENTATION | 1. BASIS OF PRESENTATION American International Group, Inc. (AIG) is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG Common Stock, par value $2.50 per share (AIG Common Stock), is listed on the New York Stock Exchange (NYSE: AIG) and the Tokyo Stock Exchange. Unless the context indicates otherwise, the terms “AIG,” “we,” “us” or “our” mean American International Group, Inc. and its consolidated subsidiaries and the term “AIG Parent” means American International Group, Inc. and not any of its consolidated subsidiaries. The consolidated financial statements include the accounts of AIG Parent, our controlled subsidiaries (generally through a greater than 50 percent ownership of voting rights of a voting interest entity), and variable interest entities (VIEs) of which we are the primary beneficiary. Equity investments in entities that we do not consolidate, including corporate entities in which we have significant influence and partnership and partnership-like entities in which we have more than minor influence over operating and financial policies, are accounted for under the equity method unless we have elected the fair value option. Certain of our foreign subsidiaries included in the consolidated financial statements report on different annual fiscal year bases, in most cases ending November 30. The effect on our consolidated financial condition and results of operations of all material events occurring at these subsidiaries between such fiscal year end and December 31st for all periods presented in these consolidated financial statements has been recorded. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). All material intercompany accounts and transactions have been eliminated. Segment changes are discussed in Note 3 herein. Presentation Changes Policy fees related to features accounted for as embedded derivatives in variable annuity products, including guaranteed minimum withdrawal benefits and guaranteed minimum account value benefits, are included in the fair value measurement of embedded derivatives. Effective December 31, 2014, we reclassified fees related to these embedded derivatives to Net realized capital gains, with no effect to the fair value measurement of the embedded derivatives, Income from continuing operations, Net income attributable to AIG, or Shareholders’ equity. Accordingly, a portion of prior period policy fees have been reclassified to Net realized capital gains to conform to the current period presentation. See Note 14 herein for our accounting policy and Note 5 for a discussion of the fair value measurement of embedded policy derivatives, including policy on classification of fees. Revisions were made to change the classification of certain miscellaneous income from General operating and other expenses to Premiums and of certain broker-dealer fees from General operating and other expenses to Other income, to conform with the current period presentation, with no effect to Income from continuing operations or Net income attributable to AIG. Sale of ILFC On May 14, 2014, we completed the sale of 100 percent of the common stock of International Lease Finance Corporation (ILFC) to AerCap Ireland Limited, a wholly owned subsidiary of AerCap Holdings N.V. (AerCap), in exchange for total consideration of approximately $7.6 billion, including cash and 97.6 million newly issued AerCap common shares (the AerCap Transaction). The total value of the consideration was based in part on AerCap’s closing price per share of $47.01 on May 13, 2014. ILFC’s results of operations are reflected in Aircraft leasing revenue and Aircraft leasing expenses in the Consolidated Statements of Income through the date of the completion of the sale. ILFC’s assets and liabilities were classified as held-for-sale at December 31, 2013 in the Consolidated Balance Sheets. See Note 4 herein for further discussion. Use of Estimates The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involve a significant degree of judgment. Accounting policies that we believe are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of:
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 conditions, results of operations and cash flows could be materially affected. |
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The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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12 Months Ended |
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Dec. 31, 2014
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| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following table identifies our significant accounting policies presented in other Notes to these Consolidated Financial Statements, with a reference to the Note where a detailed description can be found: Note 4. Held-for-Sale Classification, Divested Businesses and Discontinued Operations
Note 6. Investments
Note 7. Lending Activities
Note 8. Reinsurance
Note 9. Deferred Policy Acquisition Costs
Note 11. Derivatives and Hedge Accounting
Note 12. Goodwill Note 13. Insurance Liabilities
Note 14 Variable Life and Annuity Contracts Note 15. Debt
Note 16. Contingencies, Commitments and Guarantees
Note 18. Noncontrolling Interests Note 19. Earnings Per Share Note 24. Income Taxes Other significant accounting policies Premiums for short-duration contracts are recorded as written on the inception date of the policy. Premiums are earned primarily on a pro rata basis over the term of the related coverage. Sales of extended services contracts are reflected as premiums written and earned on a pro rata basis over the term of the related coverage. In addition, certain miscellaneous income is included as premiums written and earned. The reserve for unearned premiums includes the portion of premiums written relating to the unexpired terms of coverage. Reinsurance premiums are typically earned over the same period as the underlying policies or risks covered by the contract. As a result, the earnings pattern of a reinsurance contract may extend up to 24 months, reflecting the inception dates of the underlying policies throughout the year. Reinsurance premiums ceded are recognized as a reduction in revenues over the period the reinsurance coverage is provided in proportion to the risks to which the premiums relate. Premiums for long-duration insurance products and life contingent annuities are recognized as revenues when due. Estimates for premiums due but not yet collected are accrued. Policy fees represent fees recognized from universal life and investment-type products consisting of policy charges for the cost of insurance, policy administration charges, surrender charges and amortization of unearned revenue reserves. Aircraft leasing revenue from flight equipment under operating leases, through May 14, 2014, the date of disposal of ILFC, was recognized over the life of the leases as rental payments became receivable under the provisions of the leases or, in the case of leases with varying payments, under the straight-line method over the noncancelable term of the leases. In certain cases, leases provided for additional payments contingent on usage. In those cases, rental revenue was recognized at the time such usage occurred, net of estimated future contractual aircraft maintenance reimbursements. Gains on sales of flight equipment were recognized when flight equipment was sold and the risk of ownership of the equipment passed to the new owner. Other income includes unrealized gains and losses on derivatives, including income from the Direct Investment book (DIB) unrealized market valuation gains and losses associated with the Global Capital Markets (GCM) super senior credit default swap (CDS) portfolio, advisory fee income from the Consumer Insurance broker dealer business, as well as legal settlements of $804 million, $1.2 billion and $200 million from legacy crisis and other matters in 2014, 2013 and 2012, respectively. Other income from our Corporate and Other category consists of the following:
Aircraft leasing expenses through May 14, 2014, the date of disposal of ILFC, consisted of ILFC interest expense, depreciation expense, impairment charges, fair value adjustments and lease-related charges on aircraft as well as selling, general and administrative expenses and other expenses incurred by ILFC. Cash represents cash on hand and non-interest- bearing demand deposits. Premiums and other receivables – net of allowance include premium balances receivable, amounts due from agents and brokers and policyholders, trade receivables for the DIB and GCM and other receivables. Trade receivables for GCM include cash collateral posted to derivative counterparties that is not eligible to be netted against derivative liabilities. The allowance for doubtful accounts on premiums and other receivables was $428 million and $554 million at December 31, 2014 and 2013, respectively. Other assets consist of sales inducement assets, prepaid expenses, deposits, other deferred charges, real estate, other fixed assets, capitalized software costs, goodwill, intangible assets other than goodwill, and restricted cash. We offer sales inducements which include enhanced crediting rates or bonus payments to contract holders (bonus interest) on certain annuity and investment contract products. Sales inducements provided to the contract holder are recognized in Policyholder contract deposits in the Consolidated Balance Sheets. Such amounts are deferred and amortized over the life of the contract using the same methodology and assumptions used to amortize DAC (see Note 9 herein). To qualify for such accounting treatment, the bonus interest must be explicitly identified in the contract at inception. We must also demonstrate that such amounts are incremental to amounts we credit on similar contracts without bonus interest, and are higher than the contract’s expected ongoing crediting rates for periods after the bonus period. The deferred bonus interest and other deferred sales inducement assets totaled $629 million and $703 million at December 31, 2014 and 2013, respectively. The amortization expense associated with these assets is reported within Interest credited to policyholder account balances in the Consolidated Statements of Income. Such amortization expense totaled $63 million, $102 million and $162 million for the years ended December 31, 2014, 2013 and 2012, respectively. The cost of buildings and furniture and equipment is depreciated principally on the straight-line basis over their estimated useful lives (maximum of 40 years for buildings and 10 years for furniture and equipment). Expenditures for maintenance and repairs are charged to income as incurred and expenditures for improvements are capitalized and depreciated. We periodically assess the carrying amount of our real estate for purposes of determining any asset impairment. Capitalized software costs, which represent costs directly related to obtaining, developing or upgrading internal use software, are capitalized and amortized using the straight-line method over a period generally not exceeding five years. Real estate, fixed assets and other long-lived assets are assessed for impairment when impairment indicators exist. Separate accounts represent funds for which investment income and investment gains and losses accrue directly to the policyholders who bear the investment risk. Each account has specific investment objectives and the assets are carried at fair value. The assets of each account are legally segregated and are not subject to claims that arise from any of our other businesses. The liabilities for these accounts are equal to the account assets. For a more detailed discussion of separate accounts, see Note 14 herein. Other liabilities consist of other funds on deposit, other payables, securities sold under agreements to repurchase and securities sold but not yet purchased. We have entered into certain insurance and reinsurance contracts, primarily in our Non-Life Insurance Companies segment, that do not contain sufficient insurance risk to be accounted for as insurance or reinsurance. Accordingly, the premiums received on such contracts, after deduction for certain related expenses, are recorded as deposits within Other liabilities in the Consolidated Balance Sheets. Net proceeds of these deposits are invested and generate Net investment income. As amounts are paid, consistent with the underlying contracts, the deposit liability is reduced. Also included in Other liabilities are trade payables for the DIB and GCM, which include option premiums received and payables to counterparties that relate to unrealized gains and losses on futures, forwards, and options and balances due to clearing brokers and exchanges. Trade payables for GCM also include cash collateral received from derivative counterparties that contractually cannot be netted against derivative assets. Securities sold but not yet purchased represent sales of securities not owned at the time of sale. The obligations arising from such transactions are recorded on a trade-date basis and carried at fair value. Fair values of securities sold but not yet purchased are based on current market prices. Foreign currency: Financial statement accounts expressed in foreign currencies are translated into U.S. dollars. Functional currency assets and liabilities are translated into U.S. dollars generally using rates of exchange prevailing at the balance sheet date of each respective subsidiary and the related translation adjustments are recorded as a separate component of Accumulated other comprehensive income, net of any related taxes, in Total AIG shareholders’ equity. Functional currencies are generally the currencies of the local operating environment. Financial statement accounts expressed in currencies other than the functional currency of a consolidated entity are translated into that entity’s functional currency. Income statement accounts expressed in functional currencies are translated using average exchange rates during the period. The adjustments resulting from translation of financial statements of foreign entities operating in highly inflationary economies are recorded in income. Exchange gains and losses resulting from foreign currency transactions are recorded in income. Accounting Standards Adopted During 2014 Certain Obligations Resulting from Joint and Several Liability Arrangements In February 2013, the Financial Accounting Standards Board (FASB) issued an accounting standard that requires us to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of (i) the amount we agreed to pay on the basis of our arrangement among our co-obligors and (ii) any additional amount we expect to pay on behalf of our co-obligors. We adopted the standard on its required effective date of January 1, 2014. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of an Investment within a Foreign Entity or of an Investment in a Foreign Entity In March 2013, the FASB issued an accounting standard addressing whether consolidation guidance or foreign currency guidance applies to the release of the cumulative translation adjustment into net income when a parent sells all or a part of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or net assets that are a business (other than a sale of in-substance real estate) within a foreign entity. The standard also resolves the diversity in practice for the cumulative translation adjustment treatment in business combinations achieved in stages involving foreign entities. Under the standard, the entire amount of the cumulative translation adjustment associated with the foreign entity should be released into earnings when there has been: (i) a sale of a subsidiary or group of net assets within a foreign entity and the sale represents a complete or substantially complete liquidation of the foreign entity in which the subsidiary or the net assets had resided; (ii) a loss of a controlling financial interest in an investment in a foreign entity; or (iii) a change in accounting method from applying the equity method to an investment in a foreign entity to consolidating the foreign entity. We adopted the standard on its required effective date of January 1, 2014 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Investment Company Guidance In June 2013, the FASB issued an accounting standard that amends the criteria a company must meet to qualify as an investment company, clarifies the measurement guidance, and requires new disclosures for investment companies. An entity that is regulated by the Securities and Exchange Commission under the Investment Company Act of 1940 (the 1940 Act) qualifies as an investment company. Entities that are not regulated under the 1940 Act must have certain fundamental characteristics and must consider other characteristics to determine whether they qualify as investment companies. An entity’s purpose and design must be considered when making the assessment. An entity that no longer meets the requirements to be an investment company as a result of this standard should present the change in its status as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. An entity that is an investment company should apply the standard prospectively as an adjustment to opening net assets as of the effective date. The adjustment to net assets represents both the difference between the fair value and the carrying amount of the entity’s investments and any amount previously recognized in Accumulated other comprehensive income. We adopted the standard on its required effective date of January 1, 2014 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Presentation of Unrecognized Tax Benefits In July 2013, the FASB issued an accounting standard that requires a liability related to unrecognized tax benefits to be presented as a reduction to the related deferred tax asset for a net operating loss carryforward or a tax credit carryforward. When the carryforwards are not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the applicable jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit will be presented in the financial statements as a liability and will not be combined with the related deferred tax asset. We adopted the standard on its required effective date of January 1, 2014 on a prospective basis. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Future Application of Accounting Standards Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure In January 2014, the FASB issued an accounting standard that clarifies that a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, so that the loan is derecognized and the real estate property is recognized, when either (i) the creditor obtains legal title to the residential real estate property upon completion of a foreclosure or (ii) the borrower conveys all interest in the residential real estate property to the creditor to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The standard is effective for interim and annual reporting periods beginning after December 15, 2014. Early adoption is permitted. We plan to adopt the standard on its required effective date of January 1, 2015 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Reporting Discontinued Operations In April 2014, the FASB issued an accounting standard that changes the requirements for presenting a component or group of components of an entity as a discontinued operation and requires new disclosures. Under the standard, the disposal of a component or group of components of an entity should be reported as a discontinued operation if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Disposals of equity method investments, or those reported as held-for-sale, must be presented as a discontinued operation if they meet the new definition. The standard also requires entities to provide disclosures about the disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation. The standard is effective prospectively for all disposals of components (or classification of components as held-for-sale) of an entity that occur within interim and annual periods beginning on or after December 15, 2014. Early adoption is permitted, but only for disposals (or classifications of components as held-for-sale) that have not been reported in financial statements previously issued. We plan to adopt the standard on its required effective date of January 1, 2015 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Revenue Recognition In May 2014, the FASB issued an accounting standard that supersedes most existing revenue recognition guidance. The standard excludes from its scope the accounting for insurance contracts, leases, financial instruments, and other agreements that are governed under other GAAP guidance, but affects the revenue recognition for certain of our other activities. The standard is effective for interim and annual reporting periods beginning after December 15, 2016 and may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. Early adoption is not permitted. We plan to adopt the standard on its required effective date of January 1, 2017 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In June 2014, the FASB issued an accounting standard that changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires additional disclosures about repurchase agreements and other similar transactions. The standard aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements such that they all will be accounted for as secured borrowings. The standard eliminates sale accounting for repurchase-to-maturity transactions and supersedes the standard under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement. The accounting standard and new disclosure requirements for certain transactions accounted for as sales are effective for interim and annual reporting periods beginning after December 15, 2014, while the disclosure requirements for transactions accounted for as secured borrowings are effective for annual reporting periods beginning after December 15, 2014 and for interim reporting periods beginning after March 15, 2015. Early adoption is not permitted. We plan to adopt the standard on its required effective dates and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Accounting for Share-Based Payments with Performance Targets In June 2014, the FASB issued an accounting standard that clarifies the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The standard requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. We plan to adopt the standard on its required effective date of January 1, 2016 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity In August 2014, the FASB issued an accounting standard that allows a reporting entity to measure the financial assets and financial liabilities of a qualifying consolidated collateralized financing entity using the fair value of either its financial assets or financial liabilities, whichever is more observable. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied retrospectively to all relevant prior periods presented starting with January 1, 2010 or through a cumulative effect adjustment to retained earnings at the date of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations or cash flows Consolidation: Amendments to the Consolidation Analysis In February 2015, the FASB issued an accounting standard that affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments modify the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the year of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. |
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The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SEGMENT INFORMATION
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| SEGMENT INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT INFORMATION | 3. SEGMENT INFORMATION In the fourth quarter of 2014, we completed our previously announced reorganization and modified the presentation of our financial results to reflect our new operating structure. The new operating structure includes two reportable segments – Commercial Insurance and Consumer Insurance - and a Corporate and Other category. The Corporate and Other category consists of businesses and items not allocated to our reportable segments. Prior to the fourth quarter of 2014, AIG reported its results through two reportable segments – AIG Property Casualty and AIG Life and Retirement. The AIG Property Casualty reportable segment had two operating segments – Commercial Insurance and Consumer Insurance in addition to an AIG Property Casualty Other category. The AIG Life and Retirement reportable segment had two operating segments – Retail and Institutional. We evaluate performance based on revenues and pre-tax operating income (loss). Pre-tax operating income (loss) is derived by excluding certain items from net income (loss) attributable to AIG. See the table below for the items excluded from pre-tax operating income. To align our financial reporting with the manner in which AIG’s chief operating decision makers review the businesses to assess performance and make decisions about resources to be allocated, the Commercial and Consumer reportable segments are presented as three operating segments for each reportable segment as follows: Commercial Insurance The Commercial Insurance segment is presented as three operating segments:
Property Casualty products are primarily distributed through a network of independent retail and wholesale brokers, and through an independent agency network. Mortgage Guaranty products and services are provided to mortgage lenders including mortgage banks, credit unions and finance agencies. Institutional Markets products are marketed primarily through specialized marketing and consulting firms and structured settlement brokers. Consumer Insurance The Consumer Insurance segment is presented as three operating segments:
Retirement and Life products are distributed through a unified multi-channel distribution network that includes banks, broker-dealers, independent marking organizations, financial advisors, independent insurance agents and career agents. Personal insurance products are distributed primarily through agents and brokers, as well as through direct marketing and partner organizations. Investment income is allocated between the Property Casualty and Personal Insurance operating segments based on an internal investment income allocation model. The model estimates investable funds based primarily on loss reserves and allocated capital. The run-off insurance businesses previously reported in AIG Property Casualty’s Other category are now presented in Corporate and Other. Corporate and Other Our Corporate and Other includes results from:
Certain of our management activities, such as investment management, enterprise risk management, liquidity management and capital management, and our balance sheet reporting, are conducted on a legal entity basis. We group our insurance-related legal entities into two categories: Non-Life Insurance Companies, and Life Insurance Companies. Non-Life Insurance Companies include the following major property casualty and mortgage guaranty companies: National Union Fire Insurance Company of Pittsburgh, Pa.(National Union); American Home Assurance Company (American Home); Lexington Insurance Company (Lexington); Fuji Fire and Marine Insurance Company Limited (Fuji Fire); American Home Assurance Company, Ltd. (American Home Japan); AIG Asia Pacific Insurance, Pte, Ltd.; AIG Europe Limited and United Guaranty Residential Insurance Company (UGRIC). Life Insurance Companies include the following major operating companies: American General Life Insurance Company (American General Life); The Variable Annuity Life Insurance Company (VALIC); The United States Life Insurance Company in the City of New York (U.S. Life) and AIG Fuji Life Insurance Company Limited (Fuji Life). Prior periods have been revised to conform to the current period presentation for the above segment changes. The following table presents AIG’s continuing operations by reportable segment:
* Includes Run-off Insurance Lines and Other Businesses. The following table presents AIG’s year-end identifiable assets and capital expenditures by reportable segment:
* 2013 includes Aircraft Leasing assets classified as assets held-for-sale on the Consolidated Balance Sheets. The following table presents AIG’s consolidated total revenues and real estate and other fixed assets, net of accumulated depreciation, by major geographic area:
* Revenues are generally reported according to the geographic location of the reporting unit. |
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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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HELD-FOR-SALE CLASSIFICATION, DIVESTED BUSINESSES AND DISCONTINUED OPERATIONS
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| HELD-FOR-SALE CLASSIFICATION, DIVESTED BUSINESSES AND DISCONTINUED OPERATIONS | 4. HELD-FOR-SALE CLASSIFICATION, Divested Businesses AND Discontinued Operations Held-For-Sale Classification We report a business as held for sale when management has approved or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the next 12 months and certain other specified criteria are met. A business classified as held for sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized. Depreciation and amortization expense is not recorded on assets of a business after it is classified as held for sale. Assets and liabilities related to a business classified as held for sale are segregated in the Consolidated Balance Sheets in the period in which the business is classified as held for sale. The following table summarizes the components of ILFC assets and liabilities held-for-sale on the Consolidated Balance Sheets at December 31, 2013:
International Lease Finance Corporation On May 14, 2014, we completed the sale of 100 percent of the common stock of ILFC to AerCap Ireland Limited, a wholly owned subsidiary of AerCap, in exchange for total consideration of approximately $7.6 billion, including cash and 97.6 million newly issued AerCap common shares, valued at approximately $4.6 billion based on AerCap’s closing price per share of $47.01 on May 13, 2014. Net cash proceeds to AIG were $2.4 billion after the settlement of intercompany loans, and AIG recorded pre-tax and after-tax gains of approximately $2.2 billion and $1.4 billion, respectively, for the year ended December 31, 2014. In connection with the AerCap Transaction, we entered into a five-year credit agreement for a senior unsecured revolving credit facility between AerCap Ireland Capital Limited, as borrower, and AIG Parent as lender (the Revolving Credit Facility). The Revolving Credit Facility provides for an aggregate commitment of $1.0 billion and permits loans for general corporate purposes after the closing of the AerCap Transaction. At December 31, 2014, no amounts were outstanding under the Revolving Credit Facility. As a result of the AerCap Transaction, we own approximately 46 percent of the outstanding common stock of AerCap. This common stock is subject to certain restrictions as to the amount and timing of potential sales as set forth in the Stockholders’ Agreement and Registration Rights Agreement between AIG and AerCap. We account for our interest in AerCap using the equity method of accounting. The difference between the carrying amount of our investment in AerCap common stock and our share of the underlying equity in the net assets of AerCap was approximately $1.4 billion at December 31, 2014. Approximately $0.4 billion of this difference was allocated to the assets and liabilities of AerCap based on their respective fair values and is being amortized into income over the estimated lives of the related assets and liabilities. The remainder was allocated to goodwill. ILFC’s results of operations are reflected in Aircraft leasing revenue and Aircraft leasing expenses in the Consolidated Statements of Income through the date of the completion of the sale. ILFC’s assets and liabilities were classified as held-for-sale at December 31, 2013 in the Consolidated Balance Sheets. Discontinued Operations We report the results of operations of a business as discontinued operations if the business is classified as held for sale, the operations and cash flows of the business have been or will be eliminated from our ongoing operations as a result of a disposal transaction and we will not have any significant continuing involvement in the operations of the business after the disposal transaction. The results of discontinued operations are reported in Discontinued Operations in the Consolidated Statements of Income for current and prior periods commencing in the period in which the business meets the criteria of a discontinued operation, and include any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell. The results of operations for the following business is presented as discontinued operations in our Consolidated Statements of Income. In connection with the 2010 sale of American Life Insurance Company (ALICO) to MetLife, Inc. (MetLife), we recognized the following income (loss) from discontinued operations:
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The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FAIR VALUE MEASUREMENTS
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| FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE MEASUREMENTS | 5. FAIR VALUE MEASUREMENTS Fair Value Measurements on a Recurring Basis We carry certain of our financial instruments at fair value. We define the fair value of a financial instrument as the amount that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We are responsible for the determination of the value of the investments carried at fair value and the supporting methodologies and assumptions. The degree of judgment used in measuring the fair value of financial instruments generally inversely correlates with the level of observable valuation inputs. We maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Financial instruments with quoted prices in active markets generally have more pricing observability and less judgment is used in measuring fair value. Conversely, financial instruments for which no quoted prices are available have less observability and are measured at fair value using valuation models or other pricing techniques that require more judgment. Pricing observability is affected by a number of factors, including the type of financial instrument, whether the financial instrument is new to the market and not yet established, the characteristics specific to the transaction, liquidity and general market conditions. Fair Value Hierarchy Assets and liabilities recorded at fair value in the Consolidated Balance Sheets are measured and classified in accordance with a fair value hierarchy consisting of three “levels” based on the observability of valuation inputs:
The following is a description of the valuation methodologies used for instruments carried at fair value. These methodologies are applied to assets and liabilities across the levels discussed above, and it is the observability of the inputs used that determines the appropriate level in the fair value hierarchy for the respective asset or liability. Valuation Methodologies of Financial Instruments Measured at Fair Value Incorporation of Credit Risk in Fair Value Measurements
Fair values for fixed maturity securities based on observable market prices for identical or similar instruments implicitly incorporate counterparty credit risk. Fair values for fixed maturity securities based on internal models incorporate counterparty credit risk by using discount rates that take into consideration cash issuance spreads for similar instruments or other observable information. The cost of credit protection is determined under a discounted present value approach considering the market levels for single name CDS spreads for each specific counterparty, the mid market value of the net exposure (reflecting the amount of protection required) and the weighted average life of the net exposure. CDS spreads are provided to us by an independent third party. We utilize an interest rate based on the benchmark London Interbank Offered Rate (LIBOR) curve to derive our discount rates. While this approach does not explicitly consider all potential future behavior of the derivative transactions or potential future changes in valuation inputs, we believe this approach provides a reasonable estimate of the fair value of the assets and liabilities, including consideration of the impact of non-performance risk. Fixed Maturity Securities Whenever available, we obtain quoted prices in active markets for identical assets at the balance sheet date to measure fixed maturity securities at fair value. Market price data is generally obtained from dealer markets. We employ independent third-party valuation service providers to gather, analyze, and interpret market information to derive fair value estimates for individual investments, based upon market-accepted methodologies and assumptions. The methodologies used by these independent third-party valuation service providers are reviewed and understood by management, through periodic discussion with and information provided by the independent third-party valuation service providers. In addition, as discussed further below, control processes are applied to the fair values received from independent third-party valuation service providers to ensure the accuracy of these values. Valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of market-accepted valuation methodologies, which may utilize matrix pricing, financial models, accompanying model inputs and various assumptions, provide a single fair value measurement for individual securities. The inputs used by the valuation service providers include, but are not limited to, market prices from completed transactions for identical securities and transactions for comparable securities, benchmark yields, interest rate yield curves, credit spreads, prepayment rates, default rates, currency rates, quoted prices for similar securities and other market-observable information, as applicable. If fair value is determined using financial models, these models generally take into account, among other things, market observable information as of the measurement date as well as the specific attributes of the security being valued, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security or issuer-specific information. When market transactions or other market observable data is limited, the extent to which judgment is applied in determining fair value is greatly increased. We have control processes designed to ensure that the fair values received from independent third-party valuation service providers are accurately recorded, that their data inputs and valuation techniques are appropriate and consistently applied and that the assumptions used appear reasonable and consistent with the objective of determining fair value. We assess the reasonableness of individual security values received from independent third-party valuation service providers through various analytical techniques, and have procedures to escalate related questions internally and to the independent third-party valuation service providers for resolution. To assess the degree of pricing consensus among various valuation service providers for specific asset types, we conduct comparisons of prices received from available sources. We use these comparisons to establish a hierarchy for the fair values received from independent third-party valuation service providers to be used for particular security classes. We also validate prices for selected securities through reviews by members of management who have relevant expertise and who are independent of those charged with executing investing transactions. When our independent third-party valuation service providers are unable to obtain sufficient market observable information upon which to estimate the fair value for a particular security, fair value is determined either by requesting brokers who are knowledgeable about these securities to provide a price quote, which is generally non-binding, or by employing market accepted valuation models. Broker prices may be based on an income approach, which converts expected future cash flows to a single present value amount, with specific consideration of inputs relevant to particular security types. For structured securities, such inputs may include ratings, collateral types, geographic concentrations, underlying loan vintages, loan delinquencies and defaults, prepayments, and weighted average coupons and maturities. When the volume or level of market activity for a security is limited, certain inputs used to determine fair value may not be observable in the market. Broker prices may also be based on a market approach that considers recent transactions involving identical or similar securities. Fair values provided by brokers are subject to similar control processes to those noted above for fair values from independent third-party valuation service providers, including management reviews. For those corporate debt instruments (for example, private placements) that are not traded in active markets or that are subject to transfer restrictions, valuations reflect illiquidity and non-transferability, based on available market evidence. When observable price quotations are not available, fair value is determined based on discounted cash flow models using discount rates based on credit spreads, yields or price levels of comparable securities, adjusted for illiquidity and structure. Fair values determined internally are also subject to management review to ensure that valuation models and related inputs are reasonable. The methodology above is relevant for all fixed maturity securities including residential mortgage backed securities (RMBS), commercial mortgage backed securities (CMBS), collateralized debt obligations (CDO), other asset-backed securities (ABS) and fixed maturity securities issued by government sponsored entities and corporate entities. Equity Securities Traded in Active Markets Whenever available, we obtain quoted prices in active markets for identical assets at the balance sheet date to measure equity securities at fair value. Market price data is generally obtained from exchange or dealer markets. Mortgage and Other Loans Receivable We estimate the fair value of mortgage and other loans receivable that are measured at fair value by using dealer quotations, discounted cash flow analyses and/or internal valuation models. The determination of fair value considers inputs such as interest rate, maturity, the borrower’s creditworthiness, collateral, subordination, guarantees, past-due status, yield curves, credit curves, prepayment rates, market pricing for comparable loans and other relevant factors. Other Invested Assets We initially estimate the fair value of investments in certain hedge funds, private equity funds and other investment partnerships by reference to the transaction price. Subsequently, we generally obtain the fair value of these investments from net asset value information provided by the general partner or manager of the investments, the financial statements of which are generally audited annually. We consider observable market data and perform certain control procedures to validate the appropriateness of using the net asset value as a fair value measurement. The fair values of other investments carried at fair value, such as direct private equity holdings, are initially determined based on transaction price and are subsequently estimated based on available evidence such as market transactions in similar instruments, other financing transactions of the issuer and other available financial information for the issuer, with adjustments made to reflect illiquidity as appropriate. Short-term Investments For short-term investments that are measured at amortized cost, the carrying amounts of these assets approximate fair values because of the relatively short period of time between origination and expected realization, and their limited exposure to credit risk. Securities purchased under agreements to resell (reverse repurchase agreements) are generally treated as collateralized receivables. We report certain receivables arising from securities purchased under agreements to resell as Short-term investments in the Consolidated Balance Sheets. When these receivables are measured at fair value, we use market-observable interest rates to determine fair value. Separate Account Assets Separate account assets are composed primarily of registered and unregistered open-end mutual funds that generally trade daily and are measured at fair value in the manner discussed above for equity securities traded in active markets. Freestanding Derivatives Derivative assets and liabilities can be exchange-traded or traded over-the-counter (OTC). We generally value exchange-traded derivatives such as futures and options using quoted prices in active markets for identical derivatives at the balance sheet date. OTC derivatives are valued using market transactions and other market evidence whenever possible, including market-based inputs to models, model calibration to market clearing transactions, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. When models are used, the selection of a particular model to value an OTC derivative depends on the contractual terms of, and specific risks inherent in the instrument, as well as the availability of pricing information in the market. We generally use similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices and rates, yield curves, credit curves, measures of volatility, prepayment rates and correlations of such inputs. For OTC derivatives that trade in liquid markets, such as generic forwards, swaps and options, model inputs can generally be corroborated by observable market data by correlation or other means, and model selection does not involve significant management judgment. For certain OTC derivatives that trade in less liquid markets, where we generally do not have corroborating market evidence to support significant model inputs and cannot verify the model to market transactions, the transaction price may provide the best estimate of fair value. Accordingly, when a pricing model is used to value such an instrument, the model is adjusted so the model value at inception equals the transaction price. We will update valuation inputs in these models only when corroborated by evidence such as similar market transactions, independent third-party valuation service providers and/or broker or dealer quotations, or other empirical market data. When appropriate, valuations are adjusted for various factors such as liquidity, bid/offer spreads and credit considerations. Such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate is used. Embedded Policy Derivatives Certain variable annuity and equity-indexed annuity and life contracts contain embedded policy derivatives that we bifurcate from the host contracts and account for separately at fair value, with changes in fair value recognized in earnings. These embedded derivatives are classified within Policyholder contract deposits. We have concluded these contracts contain (i) written option guarantees on minimum accumulation value, (ii) a series of written options that guarantee withdrawals from the highest anniversary value within a specific period or for life, or (iii) equity-indexed written options that meet the criteria of derivatives that must be bifurcated. The fair value of embedded policy derivatives contained in certain variable annuity and equity-indexed annuity and life contracts is measured based on actuarial and capital market assumptions related to projected cash flows over the expected lives of the contracts. These cash flow estimates primarily include benefits and related fees assessed, when applicable, and incorporate expectations about policyholder behavior. Estimates of future policyholder behavior are subjective and based primarily on our historical experience. With respect to embedded policy derivatives in our variable annuity contracts, because of the dynamic and complex nature of the expected cash flows, risk neutral valuations are used. Estimating the underlying cash flows for these products involves judgments regarding expected market rates of return, market volatility, correlations of market variables to funds, fund performance, discount rates and policyholder behavior. The portion of fees attributable to the fair value of expected benefit payments are included within the fair value measurement of these embedded policy derivatives and related fees are classified in net realized gain/loss as collected consistent with other changes in the fair value of these embedded policy derivatives. Any additional fees not attributed to the embedded derivative are excluded from the fair value measurement and classified in policy fees as collected. With respect to embedded policy derivatives in our equity-indexed annuity and life contracts, option pricing models are used to estimate fair value, taking into account assumptions for future equity index growth rates, volatility of the equity index, future interest rates, and determinations on adjusting the participation rate and the cap on equity-indexed credited rates in light of market conditions and policyholder behavior assumptions. These methodologies incorporate an explicit risk margin to take into consideration market participant estimates of projected cash flows and policyholder behavior. We also incorporate our own risk of non-performance in the valuation of the embedded policy derivatives associated with variable annuity and equity-indexed annuity and life contracts. Expected cash flows are discounted using the interest rate swap curve (swap curve), which is commonly viewed as being consistent with the credit spreads for highly-rated financial institutions (S&P AA-rated or above). A swap curve shows the fixed-rate leg of a non-complex swap against the floating rate (for example, LIBOR) leg of a related tenor. The non-performance risk adjustment reflects a market participant’s view of our claims-paying ability by incorporating an additional spread to the swap curve used to value embedded policy derivatives. Super Senior Credit Default Swap Portfolio We value CDS transactions written on the super senior risk layers of designated pools of debt securities or loans using internal valuation models, third-party price estimates and market indices. The principal market was determined to be the market in which super senior CDSs of this type and size would be transacted, or have been transacted, with the greatest volume or level of activity. We have determined that the principal market participants, therefore, would consist of other large financial institutions who participate in sophisticated over-the-counter derivatives markets. The specific valuation methodologies vary based on the nature of the referenced obligations and availability of market prices. The valuation of the super senior credit derivatives is complex because of the limited availability of market observable information due to the lack of trading and price transparency in certain structured finance markets. These market conditions have increased the reliance on management estimates and judgments in arriving at an estimate of fair value for financial reporting purposes. Further, disparities in the valuation methodologies employed by market participants and the varying judgments reached by such participants when assessing volatile markets have increased the likelihood that the various parties to these instruments may arrive at significantly different estimates of their fair values. Our valuation methodologies for the super senior CDS portfolio have evolved over time in response to market conditions and the availability of market observable information. We have sought to calibrate the methodologies to available market information and to review the assumptions of the methodologies on a regular basis. Multi-sector CDO portfolios: We use a modified version of the Binomial Expansion Technique (BET) model to value our CDS portfolio written on super senior tranches of multi-sector CDOs of ABS. The BET model was developed in 1996 by a major rating agency to generate expected loss estimates for CDO tranches and derive a credit rating for those tranches, and remains widely used. We have adapted the BET model to estimate the price of the super senior risk layer or tranche of the CDO. We modified the BET model to imply default probabilities from market prices for the underlying securities and not from rating agency assumptions. To generate the estimate, the model uses the price estimates for the securities comprising the portfolio of a CDO as an input and converts those estimates to credit spreads over current LIBOR-based interest rates. These credit spreads are used to determine implied probabilities of default and expected losses on the underlying securities. This data is then aggregated and used to estimate the expected cash flows of the super senior tranche of the CDO. Prices for the individual securities held by a CDO are obtained in most cases from the CDO collateral managers, to the extent available. CDO collateral managers provided market prices for 49 percent and 46 percent of the underlying securities used in the valuation at December 31, 2014 and 2013. When a price for an individual security is not provided by a CDO collateral manager, we derive the price through a pricing matrix using prices from CDO collateral managers for similar securities. Matrix pricing is a mathematical technique used principally to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the relationship of the security to other benchmark quoted securities. Substantially all of the CDO collateral managers who provided prices used dealer prices for all or part of the underlying securities, in some cases supplemented by independent third-party valuation service providers. The BET model also uses diversity scores, weighted average lives, recovery rates and discount rates. We employ a Monte Carlo simulation to assist in quantifying the effect on the valuation of the CDO of the unique aspects of the CDO’s structure such as triggers that divert cash flows to the most senior part of the capital structure. The Monte Carlo simulation is used to determine whether an underlying security defaults in a given simulation scenario and, if it does, the security’s implied random default time and expected loss. This information is used to project cash flow streams and to determine the expected losses of the portfolio. In addition to calculating an estimate of the fair value of the super senior CDO security referenced in the CDSs using our internal model, we also consider the price estimates for the super senior CDO securities provided by third parties, including counterparties to these transactions, to validate the results of the model and to determine the best available estimate of fair value. In determining the fair value of the super senior CDO security referenced in the CDSs, we use a consistent process that considers all available pricing data points and eliminates the use of outlying data points. When pricing data points are within a reasonable range an averaging technique is applied. Corporate debt/Collateralized loan obligation (CLO) portfolios: For CDSs written on portfolios of investment-grade corporate debt, we use a mathematical model that produces results that are closely aligned with prices received from third parties. This methodology uses the current market credit spreads of the names in the portfolios along with the base correlations implied by the current market prices of comparable tranches of the relevant market traded credit indices as inputs. We estimate the fair value of our obligations resulting from CDSs written on CLOs to be equivalent to the par value less the current market value of the referenced obligation. Accordingly, the value is determined by obtaining third-party quotations on the underlying super senior tranches referenced under the CDS contract. Long-Term Debt The fair value of non-structured liabilities is generally determined by using market prices from exchange or dealer markets, when available, or discounting expected cash flows using the appropriate discount rate for the applicable maturity. We determine the fair value of structured liabilities and hybrid financial instruments (where performance is linked to structured interest rates, inflation or currency risks) using the appropriate derivative valuation methodology (described above) given the nature of the embedded risk profile. In addition, adjustments are made to the valuations of both non-structured and structured liabilities to reflect our own creditworthiness based on the methodology described under the caption “Incorporation of Credit Risk in Fair Value Measurements – Our Own Credit Risk” above. Borrowings under obligations of guaranteed investment agreements (GIAs), which are guaranteed by us, are recorded at fair value using discounted cash flow calculations based on interest rates currently being offered for similar contracts and our current market observable implicit credit spread rates with maturities consistent with those remaining for the contracts being valued. Obligations may be called at various times prior to maturity at the option of the counterparty. Interest rates on these borrowings are primarily fixed, vary by maturity and range up to 8.5 percent. Other Liabilities Other liabilities measured at fair value include certain securities sold under agreements to repurchase and certain securities sold but not yet purchased. Liabilities arising from securities sold under agreements to repurchase are generally treated as collateralized borrowings. We estimate the fair value of liabilities arising under these agreements by using market-observable interest rates. This methodology considers such factors as the coupon rate, yield curves and other relevant factors. Fair values for securities sold but not yet purchased are based on current market prices. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents information about assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value measurement based on the observability of the inputs used:
(a) Represents netting of derivative exposures covered by qualifying master netting agreements. (b) Effective April 1, 2014, we reclassified cross-currency swaps from Interest Rate contracts to Foreign exchange contracts. This change was applied prospectively. Transfers of Level 1 and Level 2 Assets and Liabilities Our policy is to record transfers of assets and liabilities between Level 1 and Level 2 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. Assets are transferred out of Level 1 when they are no longer transacted with sufficient frequency and volume in an active market. Conversely, assets are transferred from Level 2 to Level 1 when transaction volume and frequency are indicative of an active market. During the years ended December 31, 2014 and 2013, we transferred $590 million and $944 million, respectively, of securities issued by Non-U.S. government entities from Level 1 to Level 2, because they are no longer considered actively traded. For similar reasons, during the years ended December 31, 2014 and 2013, we transferred $107 million and $356 million, respectively, of securities issued by the U.S. government and government-sponsored entities from Level 1 to Level 2. There were no material transfers from Level 2 to Level 1 during the years ended December 31, 2014 and 2013. Changes in Level 3 Recurring Fair Value Measurements The following tables present changes during the years ended December 31, 2014 and 2013 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realized and unrealized gains (losses) related to the Level 3 assets and liabilities in the Consolidated Balance Sheets at December 31, 2014 and 2013:
* Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. Net realized and unrealized gains and losses included in income related to Level 3 assets and liabilities shown above are reported in the Consolidated Statements of Income as follows: The following table presents the gross components of purchases, sales, issues and settlements, net, shown above:
(a) There were no issuances during the years ended December 31, 2014 and 2013. (b) Includes GIAs, notes, bonds, loans and mortgages payable. Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3 in the tables above. As a result, the unrealized gains (losses) on instruments held at December 31, 2014 and 2013 may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs. Transfers of Level 3 Assets and Liabilities We record transfers of assets and liabilities into or out of Level 3 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. As a result, the Net realized and unrealized gains (losses) included in income or other comprehensive income and as shown in the table above excludes $22 million of net gains and $15 million of net losses related to assets and liabilities transferred into Level 3 during 2014 and 2013, respectively, and includes $62 million and $44 million of net gains related to assets and liabilities transferred out of Level 3 during 2014 and 2013, respectively. Transfers of Level 3 Assets During the years ended December 31, 2014 and 2013, transfers into Level 3 assets primarily included certain investments in private placement corporate debt, RMBS, CMBS, CDO/ABS, and investments in hedge funds. Transfers of private placement corporate debt and certain ABS into Level 3 assets were primarily the result of limited market pricing information that required us to determine fair value for these securities based on inputs that are adjusted to better reflect our own assumptions regarding the characteristics of a specific security or associated market liquidity. The transfers of investments in RMBS, CMBS and CDO and certain ABS into Level 3 assets were due to decreases in market transparency and liquidity for individual security types. Certain investments in hedge funds were transferred into Level 3 due to these investments now being carried at fair value and no longer being accounted for using the equity method of accounting due to a change in percentage ownership, or as a result of limited market activity due to fund-imposed redemption restrictions. During the years ended December 31, 2014 and 2013, transfers out of Level 3 assets primarily included CMBS, CDO/ABS, RMBS, certain investments in municipal securities, private placement and other corporate debt, and investments in hedge funds. Transfers of certain investments in municipal securities, corporate debt, RMBS, CMBS and CDO/ABS out of Level 3 assets were based on consideration of market liquidity as well as related transparency of pricing and associated observable inputs for these investments. Transfers of certain investments in private placement corporate debt and certain ABS out of Level 3 assets were primarily the result of using observable pricing information that reflects the fair value of those securities without the need for adjustment based on our own assumptions regarding the characteristics of a specific security or the current liquidity in the market. The transfers of certain hedge fund investments out of Level 3 assets were primarily the result of easing of certain fund-imposed redemption restrictions. Transfers of Level 3 Liabilities There were no significant transfers of derivative or other liabilities into or out of Level 3 for the years ended December 31, 2014 and 2013. Quantitative Information about Level 3 Fair Value Measurements The table below presents information about the significant unobservable inputs used for recurring fair value measurements for certain Level 3 instruments, and includes only those instruments for which information about the inputs is reasonably available to us, such as data from independent third-party valuation service providers and from internal valuation models. Because input information from third-parties with respect to certain Level 3 instruments (primarily CDO/ABS) may not be reasonably available to us, balances shown below may not equal total amounts reported for such Level 3 assets and liabilities:
(a) The unobservable inputs and ranges for the constant prepayment rate, loss severity and constant default rate relate to each of the individual underlying mortgage loans that comprise the entire portfolio of securities in the RMBS and CDO securitization vehicles and not necessarily to the securitization vehicle bonds (tranches) purchased by us. The ranges of these inputs do not directly correlate to changes in the fair values of the tranches purchased by us because there are other factors relevant to the fair values of specific tranches owned by us including, but not limited to, purchase price, position in the waterfall, senior versus subordinated position and attachment points. (b) Represents discount rates, estimates and assumptions that we believe would be used by market participants when valuing these assets and liabilities. (c) Information received from third-party valuation service providers. The ranges of reported inputs for Corporate debt, RMBS, CDO/ABS, and CMBS valued using a discounted cash flow technique consist of plus/minus one standard deviation in either direction from the value-weighted average. The preceding table does not give effect to our risk management practices that might offset risks inherent in these investments. Sensitivity to Changes in Unobservable Inputs We consider unobservable inputs to be those for which market data is not available and that are developed using the best information available to us about the assumptions that market participants would use when pricing the asset or liability. Relevant inputs vary depending on the nature of the instrument being measured at fair value. The following is a general description of sensitivities of significant unobservable inputs along with interrelationships between and among the significant unobservable inputs and their impact on the fair value measurements. The effect of a change in a particular assumption in the sensitivity analysis below is considered independently of changes in any other assumptions. In practice, simultaneous changes in assumptions may not always have a linear effect on the inputs discussed below. Interrelationships may also exist between observable and unobservable inputs. Such relationships have not been included in the discussion below. For each of the individual relationships described below, the inverse relationship would also generally apply. Corporate Debt Corporate debt securities included in Level 3 are primarily private placement issuances that are not traded in active markets or that are subject to transfer restrictions. Fair value measurements consider illiquidity and non-transferability. When observable price quotations are not available, fair value is determined based on discounted cash flow models using discount rates based on credit spreads, yields or price levels of publicly-traded debt of the issuer or other comparable securities, considering illiquidity and structure. The significant unobservable input used in the fair value measurement of corporate debt is the yield. The yield is affected by the market movements in credit spreads and U.S. Treasury yields. In addition, the migration in credit quality of a given security generally has a corresponding effect on the fair value measurement of the security. For example, a downward migration of credit quality would increase spreads. Holding U.S. Treasury rates constant, an increase in corporate credit spreads would decrease the fair value of corporate debt. RMBS and Certain CDO/ABS The significant unobservable inputs used in fair value measurements of RMBS and certain CDO/ABS valued by third-party valuation service providers are constant prepayment rates (CPR), loss severity, constant default rates (CDR), and yield. A change in the assumptions used for the probability of default will generally be accompanied by a corresponding change in the assumption used for the loss severity and an inverse change in the assumption used for prepayment rates. In general, increases in CPR, loss severity, CDR, and yield, in isolation, would result in a decrease in the fair value measurement. Changes in fair value based on variations in assumptions generally cannot be extrapolated because the relationship between the directional change of each input is not usually linear. CMBS The significant unobservable input used in fair value measurements for CMBS is the yield. Prepayment assumptions for each mortgage pool are factored into the yield. CMBS generally feature a lower degree of prepayment risk than RMBS because commercial mortgages generally contain a penalty for prepayment. In general, increases in the yield would decrease the fair value of CMBS. CDO/ABS – Direct Investment book The significant unobservable inputs used for certain CDO/ABS securities valued using the BET are recovery rates, diversity score, and the weighted average life of the portfolio. An increase in recovery rates and diversity score will increase the fair value of the portfolio. An increase in the weighted average life will decrease the fair value. Policyholder contract deposits Embedded derivatives within Policyholder contract deposits relate to guaranteed minimum withdrawal benefits (GMWB) within variable annuity products and certain enhancements to interest crediting rates based on market indices within index annuities and guaranteed investment contracts (GICs). GMWB represents our largest exposure of these embedded derivatives, although the carrying amount of the liability fluctuates based on the performance of the equity markets and therefore, at a point in time, can be low relative to the exposure. The principal unobservable input used for GMWBs and embedded derivatives in index annuities measured at fair value is equity implied volatility. For GMWBs, other significant unobservable inputs include base and dynamic lapse rates, mortality rates, and utilization rates. Lapse, mortality, and utilization rates may vary significantly depending upon age groups and duration. In general, increases in volatility and utilization rates will increase the fair value of the liability associated with GMWB, while increases in lapse rates and mortality rates will decrease the fair value of the liability. Significant unobservable inputs used in valuing embedded derivatives within GICs include long-term forward interest rates and foreign exchange rates. Generally, the embedded derivative liability for GICs will increase as interest rates decrease or if the U.S. dollar weakens compared to the euro. Derivative liabilities – credit contracts The significant unobservable inputs used for Derivatives liabilities – credit contracts are recovery rates, diversity scores, and the weighted average life of the portfolio. AIG non-performance risk is also considered in the measurement of the liability. An increase in recovery rates and diversity score will decrease the fair value of the liability. An increase in the weighted average life will increase the fair value measurement of the liability. Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share The following table includes information related to our investments in certain other invested assets, including private equity funds, hedge funds and other alternative investments that calculate net asset value per share (or its equivalent). For these investments, which are measured at fair value on a recurring basis, we use the net asset value per share as a practical expedient to measure fair value.
Private equity fund investments included above are not redeemable, as distributions from the funds will be received when underlying investments of the funds are liquidated. Private equity funds are generally expected to have 10-year lives at their inception, but these lives may be extended at the fund manager’s discretion, typically in one or two-year increments. At December 31, 2014, assuming average original expected lives of 10 years for the funds, 72 percent of the total fair value using net asset value per share (or its equivalent) presented above would have expected remaining lives of three years or less, 18 percent between four and six years and 10 percent between seven and 10 years. The hedge fund investments included above are generally redeemable monthly (14 percent), quarterly (49 percent), semi-annually (15 percent) and annually (22 percent), with redemption notices ranging from one day to 180 days. At December 31, 2014, however, investments representing approximately 43 percent of the total fair value of the hedge fund investments cannot be redeemed, either in whole or in part, because the investments include various contractual restrictions. The majority of these contractual restrictions, which may have been put in place at the fund’s inception or thereafter, have pre-defined end dates and are generally expected to be lifted by the end of 2015. The fund investments for which redemption is restricted only in part generally relate to certain hedge funds that hold at least one investment that the fund manager deems to be illiquid. Fair Value Option Under the fair value option, we may elect to measure at fair value financial assets and financial liabilities that are not otherwise required to be carried at fair value. Subsequent changes in fair value for designated items are reported in earnings. We elect the fair value option for certain hybrid securities given the complexity of bifurcating the economic components associated with the embedded derivatives. Refer to Note 11 for additional information related to embedded derivatives. Additionally, beginning in the third quarter of 2012 we elected the fair value option for certain alternative investments when such investments are eligible for this election. We believe this measurement basis is consistent with the applicable accounting guidance used by the respective investment company funds themselves. Refer to Note 6 herein for additional information. The following table presents the gains or losses recorded related to the eligible instruments for which we elected the fair value option:
(a) Includes certain hedge funds, private equity funds and other investment partnerships. (b) Includes GIAs, notes, bonds and mortgages payable. Interest income and dividend income on assets measured under the fair value option are recognized and included in Net investment income in the Consolidated Statements of Income with the exception of activity within AIG’s Corporate and Other category, which is included in Other income. Interest expense on liabilities measured under the fair value option is reported in Other Income in the Consolidated Statements of Income. See Note 6 herein for additional information about our policies for recognition, measurement, and disclosure of interest and dividend income and interest expense. During 2014, 2013 and 2012, we recognized losses of $32 million, $54 million and $641 million, respectively, attributable to the observable effect of changes in credit spreads on our own liabilities for which the fair value option was elected. We calculate the effect of these credit spread changes using discounted cash flow techniques that incorporate current market interest rates, our observable credit spreads on these liabilities and other factors that mitigate the risk of nonperformance such as cash collateral posted. The following table presents the difference between fair values and the aggregate contractual principal amounts of mortgage and other loans receivable and long-term borrowings for which the fair value option was elected:
* Includes GIAs, notes, bonds, loans and mortgages payable. There were no mortgage or other loans receivable for which the fair value option was elected that were 90 days or more past due or in non-accrual status at December 31, 2014 or 2013. FAIR VALUE MEASUREMENTS ON A NON-RECURRING BASIS We measure the fair value of certain assets on a non-recurring basis, generally quarterly, annually or when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. These assets include cost and equity-method investments, investments in life settlements, collateral securing foreclosed loans and real estate and other fixed assets, goodwill and other intangible assets. See Note 6 herein for additional information about how we test various asset classes for impairment. The following table presents assets measured at fair value on a non-recurring basis at the time of impairment and the related impairment charges recorded during the periods presented:
FAIR VALUE INFORMATION ABOUT FINANCIAL INSTRUMENTS NOT MEASURED AT FAIR VALUE Information regarding the estimation of fair value for financial instruments not carried at fair value (excluding insurance contracts and lease contracts) is discussed below:
The following table presents the carrying amounts and estimated fair values of our financial instruments not measured at fair value and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used:
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The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INVESTMENTS
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| INVESTMENTS | 6. INVESTMENTS Fixed Maturity and Equity Securities Bonds held to maturity are carried at amortized cost when we have the ability and positive intent to hold these securities until maturity. When we do not have the ability or positive intent to hold bonds until maturity, these securities are classified as available for sale or are measured at fair value at our election. None of our fixed maturity securities met the criteria for held to maturity classification at December 31, 2014 or 2013. Fixed maturity and equity securities classified as available for sale are carried at fair value. Unrealized gains and losses from available for sale investments in fixed maturity and equity securities are reported as a separate component of Accumulated other comprehensive income, net of deferred policy acquisition costs and deferred income taxes, in shareholders’ equity. Realized and unrealized gains and losses from fixed maturity and equity securities measured at fair value at our election are reflected in Net investment income (for insurance subsidiaries) or Other income (for Corporate and Other). Investments in fixed maturity and equity securities are recorded on a trade-date basis. Premiums and discounts arising from the purchase of bonds classified as available for sale are treated as yield adjustments over their estimated holding periods, until maturity, or call date, if applicable. For investments in certain RMBS, CMBS and CDO/ABS, (collectively, structured securities), recognized yields are updated based on current information regarding the timing and amount of expected undiscounted future cash flows. For high credit quality structured securities, effective yields are recalculated based on actual payments received and updated prepayment expectations, and the amortized cost is adjusted to the amount that would have existed had the new effective yield been applied since acquisition with a corresponding charge or credit to net investment income. For structured securities that are not high credit quality, effective yields are recalculated and adjusted prospectively based on changes in expected undiscounted future cash flows. For purchased credit impaired (PCI) securities, at acquisition, the difference between the undiscounted expected future cash flows and the recorded investment in the securities represents the initial accretable yield, which is to be accreted into net investment income over the securities’ remaining lives on a level-yield basis. Subsequently, effective yields recognized on PCI securities are recalculated and adjusted prospectively to reflect changes in the contractual benchmark interest rates on variable rate securities and any significant increases in undiscounted expected future cash flows arising due to reasons other than interest rate changes. Securities Available for Sale The following table presents the amortized cost or cost and fair value of our available for sale securities:
(a) Represents the amount of other-than-temporary impairment losses recognized in Accumulated other comprehensive income. Amount includes unrealized gains and losses on impaired securities relating to changes in the value of such securities subsequent to the impairment measurement date. (b) At December 31, 2014 and 2013, bonds available for sale held by us that were below investment grade or not rated totaled $35.1 billion and $32.6 billion, respectively. Securities Available for Sale in a Loss Position The following table summarizes the fair value and gross unrealized losses on our available for sale securities, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position:
At December 31, 2014, we held 6,394 and 118 individual fixed maturity and equity securities, respectively, that were in an unrealized loss position, of which 2,123 individual fixed maturity securities were in a continuous unrealized loss position for longer than 12 months. We did not recognize the unrealized losses in earnings on these fixed maturity securities at December 31, 2014, because we neither intend to sell the securities nor do we believe that it is more likely than not that we will be required to sell these securities before recovery of their amortized cost basis. For fixed maturity securities with significant declines, we performed fundamental credit analysis on a security-by-security basis, which included consideration of credit enhancements, expected defaults on underlying collateral, review of relevant industry analyst reports and forecasts and other available market data. Contractual Maturities of Fixed Maturity Securities Available for Sale The following table presents the amortized cost and fair value of fixed maturity securities available for sale by contractual maturity:
Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations with or without call or prepayment penalties. The following table presents the gross realized gains and gross realized losses from sales or maturities of our available for sale securities:
For the years ended December 31, 2014, 2013 and 2012, the aggregate fair value of available for sale securities sold was $25.3 billion, $35.9 billion and $40.3 billion, which resulted in net realized capital gains of $0.7 billion, $2.5 billion and $3.1 billion, respectively. Other Securities Measured at Fair Value The following table presents the fair value of other securities measured at fair value based on our election of the fair value option:
(a) Includes $0.9 billion and $1.0 billion of U.S. Government agency backed ABS at December 31, 2014 and 2013, respectively. Other Invested Assets The following table summarizes the carrying amounts of other invested assets:
(a) Includes hedge funds, private equity funds, affordable housing partnerships, and other investment partnerships. (b) Net of accumulated depreciation of $315 million and $513 million in 2014 and 2013, respectively. (c) Consists primarily of investments in aircraft equipment held in consolidated trusts. Other Invested Assets Carried at Fair Value Certain hedge funds, private equity funds, affordable housing partnerships and other investment partnerships for which we have elected the fair value option are reported at fair value with changes in fair value recognized in Net investment income with the exception of investments of AIG’s Corporate and Other category, for which such changes are reported in Other income. Other investments in hedge funds, private equity funds, affordable housing partnerships and other investment partnerships in which our insurance operations do not hold aggregate interests sufficient to exercise more than minor influence over the respective partnerships are reported at fair value with changes in fair value recognized as a component of Accumulated other comprehensive income. These investments are subject to other-than-temporary impairment evaluations (see discussion below on evaluating equity investments for other-than-temporary impairment). The gross unrealized loss recorded in Other comprehensive income on such investments was $56 million and $15 million at December 31, 2014 and 2013, respectively, the majority of which pertains to investments in private equity funds and hedge funds that have been in continuous unrealized loss positions for less than 12 months. Other Invested Assets – Equity Method Investments We account for hedge funds, private equity funds, affordable housing partnerships and other investment partnerships using the equity method of accounting unless our interest is so minor that we may have virtually no influence over partnership operating and financial policies, or we have elected the fair value option. Under the equity method of accounting, our carrying amount generally is our share of the net asset value of the funds or the partnerships, and changes in our share of the net asset values are recorded in Net investment income with the exception of investments of AIG’s Corporate and Other category, for which such changes are reported in Other income. In applying the equity method of accounting, we consistently use the most recently available financial information provided by the general partner or manager of each of these investments, which is one to three months prior to the end of our reporting period. The financial statements of these investees are generally audited annually. Summarized Financial Information of Equity Method Investees The following is the aggregated summarized financial information of our equity method investees, including those for which the fair value option has been elected:
The following table presents the carrying amount and ownership percentage of equity method investments at December 31, 2014 and 2013:
Summarized financial information for these equity method investees may be presented on a lag, due to the unavailability of information for the investees at our respective balance sheet dates, and is included for the periods in which we held an equity method ownership interest. Other Investments Also included in Other invested assets are real estate held for investment and aircraft asset investments held by non-Aircraft Leasing subsidiaries. These investments are reported at cost, less depreciation and are subject to impairment review, as discussed below. Investments in Life Settlements Investments in life settlements are accounted for under the investment method. Under the investment method, we recognize our initial investment in life settlements at the transaction price plus all initial direct external costs. Continuing costs to keep the policy in force, primarily life insurance premiums, increase the carrying amount of the investment. We recognize income on individual investments in life settlements when the insured dies, at an amount equal to the excess of the investment proceeds over the carrying amount of the investment at that time. These investments are subject to impairment review, as discussed below. During 2014, 2013 and 2012, income recognized on investments in life settlements was $407 million, $334 million and $253 million, respectively, and is included in Net investment income in the Consolidated Statements of Income. The following table presents further information regarding investments in life settlements:
Remaining life expectancy for year 0-1 references policies whose current life expectancy is less than 12 months as of the valuation date. Remaining life expectancy is not an indication of expected maturity. Actual maturity dates in any category may vary significantly (either earlier or later) from the remaining life expectancies reported above. At December 31, 2014, management’s best estimate of the life insurance premiums required to keep the investments in life settlements in force, payable in the 12 months ending December 31, 2015 and the four succeeding years ending December 31, 2019 are $545 million, $562 million, $584 million, $607 million and $627 million, respectively. Net Investment Income Net investment income represents income primarily from the following sources:
The following table presents the components of Net investment income:
* Includes hedge funds, private equity funds, affordable housing partnerships, investments in life settlements and other investment partnerships. Net Realized Capital Gains and Losses Net realized capital gains and losses are determined by specific identification. The net realized capital gains and losses are generated primarily from the following sources:
The following table presents the components of Net realized capital gains (losses):
Change in Unrealized Appreciation (Depreciation) of Investments The following table presents the increase (decrease) in unrealized appreciation (depreciation) of our available for sale securities and other investments:
* Excludes net unrealized gains attributable to businesses held for sale. Evaluating Investments for Other-Than-Temporary Impairments Fixed Maturity Securities If we intend to sell a fixed maturity security or it is more likely than not that we will be required to sell a fixed maturity security before recovery of its amortized cost basis and the fair value of the security is below amortized cost, an other-than-temporary impairment has occurred and the amortized cost is written down to current fair value, with a corresponding charge to realized capital losses. When assessing our intent to sell a fixed maturity security, or whether it is more likely than not that we will be required to sell a fixed maturity security before recovery of its amortized cost basis, management evaluates relevant facts and circumstances including, but not limited to, decisions to reposition our investment portfolio, sales of securities to meet cash flow needs and sales of securities to take advantage of favorable pricing. For fixed maturity securities for which a credit impairment has occurred, the amortized cost is written down to the estimated recoverable value with a corresponding charge to realized capital losses. The estimated recoverable value is the present value of cash flows expected to be collected, as determined by management. The difference between fair value and amortized cost that is not related to a credit impairment is presented in unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were recognized (a separate component of accumulated other comprehensive income). When estimating future cash flows for structured fixed maturity securities (e.g., RMBS, CMBS, CDO, ABS) management considers historical performance of underlying assets and available market information as well as bond-specific structural considerations, such as credit enhancement and priority of payment structure of the security. In addition, the process of estimating future cash flows includes, but is not limited to, the following critical inputs, which vary by asset class:
For corporate, municipal and sovereign fixed maturity securities determined to be credit impaired, management considers the fair value as the recoverable value when available information does not indicate that another value is more relevant or reliable. When management identifies information that supports a recoverable value other than the fair value, the determination of a recoverable value considers scenarios specific to the issuer and the security, and may be based upon estimates of outcomes of corporate restructurings, political and macroeconomic factors, stability and financial strength of the issuer, the value of any secondary sources of repayment and the disposition of assets. We consider severe price declines in our assessment of potential credit impairments. We may also modify our model inputs when we determine that price movements in certain sectors are indicative of factors not captured by the cash flow models. In periods subsequent to the recognition of an other-than-temporary impairment charge for available for sale fixed maturity securities that is not foreign exchange related, we prospectively accrete into earnings the difference between the new amortized cost and the expected undiscounted recoverable value over the remaining expected holding period of the security. Credit Impairments The following table presents a rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings for available for sale fixed maturity securities:
* Represents both accretion recognized due to changes in cash flows expected to be collected over the remaining expected term of the credit impaired securities and the accretion due to the passage of time. Equity Securities We evaluate our available for sale equity securities for impairment by considering such securities as candidates for other-than-temporary impairment if they meet any of the following criteria:
The determination that an equity security is other-than-temporarily impaired requires the judgment of management and consideration of the fundamental condition of the issuer, its near-term prospects and all the relevant facts and circumstances. In addition to the above criteria, all equity securities that have been in a continuous decline in value below cost over twelve months are impaired. We also consider circumstances of a rapid and severe market valuation decline (50 percent or more) discount to cost, in which we could not reasonably assert that the impairment period would be temporary (severity losses). Other Invested Assets Our equity and cost method investments in private equity funds, hedge funds and other entities are evaluated for impairment similar to the evaluation of equity securities for impairments as discussed above. Such evaluation considers market conditions, events and volatility that may impact the recoverability of the underlying investments within these private equity funds and hedge funds and is based on the nature of the underlying investments and specific inherent risks. Such risks may evolve based on the nature of the underlying investments. Our investments in life settlements are monitored for impairment on a contract-by-contract basis quarterly. An investment in life settlements is considered impaired if the undiscounted cash flows resulting from the expected proceeds from the investment in life settlements would not be sufficient to recover our estimated future carrying amount of the investment in life settlements, which is the current carrying amount for the investment in life settlements plus anticipated undiscounted future premiums and other capitalizable future costs, if any. Impaired investments in life settlements are written down to their estimated fair value which is determined on a discounted cash flow basis, incorporating current market longevity assumptions and market yields. In general, fair value estimates for the investments in life settlements are calculated using cash flows based on medical underwriting ratings of the policies from a third-party underwriter, applied to an industry mortality table. Our mortality assumptions are based on an industry table as supplemented with proprietary data on the older age mortality of U.S. insured lives. Mortality improvement factors are applied to these assumptions based on our view of future mortality improvements likely to apply to the U.S. insured lives population. Our mortality assumptions coupled with the mortality improvement rates are used in our estimate of future net cash flows from the investments in life settlements. Our investments in aircraft assets and real estate are periodically evaluated for recoverability whenever changes in circumstances indicate the carrying amount of an asset may be impaired. When impairment indicators are present, we compare expected investment cash flows to carrying amount. When the expected cash flows are less than the carrying amount, the investments are written down to fair value with a corresponding charge to earnings. Purchased Credit Impaired (PCI) Securities We purchase certain RMBS securities that have experienced deterioration in credit quality since their issuance. We determine, based on our expectations as to the timing and amount of cash flows expected to be received, whether it is probable at acquisition that we will not collect all contractually required payments for these PCI securities, including both principal and interest after considering the effects of prepayments. At acquisition, the timing and amount of the undiscounted future cash flows expected to be received on each PCI security is determined based on our best estimate using key assumptions, such as interest rates, default rates and prepayment speeds. At acquisition, the difference between the undiscounted expected future cash flows of the PCI securities and the recorded investment in the securities represents the initial accretable yield, which is accreted into Net investment income over their remaining lives on a level-yield basis. Additionally, the difference between the contractually required payments on the PCI securities and the undiscounted expected future cash flows represents the non-accretable difference at acquisition. The accretable yield and the non-accretable difference will change over time, based on actual payments received and changes in estimates of undiscounted expected future cash flows, which are discussed further below. On a quarterly basis, the undiscounted expected future cash flows associated with PCI securities are re-evaluated based on updates to key assumptions. Declines in undiscounted expected future cash flows due to further credit deterioration as well as changes in the expected timing of the cash flows can result in the recognition of an other-than-temporary impairment charge, as PCI securities are subject to our policy for evaluating investments for other-than-temporary impairment. Changes to undiscounted expected future cash flows due solely to the changes in the contractual benchmark interest rates on variable rate PCI securities will change the accretable yield prospectively. Significant increases in undiscounted expected future cash flows for reasons other than interest rate changes are recognized prospectively as adjustments to the accretable yield. The following tables present information on our PCI securities, which are included in bonds available for sale:
* Represents undiscounted expected cash flows, including both principal and interest.
The following table presents activity for the accretable yield on PCI securities:
Pledged Investments Secured Financing and Similar Arrangements We enter into secured financing transactions whereby certain securities are sold under agreements to repurchase (repurchase agreements), in which we transfer securities in exchange for cash, with an agreement by us to repurchase the same or substantially similar securities. In the majority of these repurchase agreements, the securities transferred by us may be sold or repledged by the counterparties. Repurchase agreements entered into by the DIB are carried at fair value based on market-observable interest rates. All other repurchase agreements are recorded at their contracted repurchase amounts plus accrued interest. At December 31, 2013, our secured financing transactions also included those that involve the transfer of securities to financial institutions in exchange for cash or other liquid collateral. Securities transferred by us under these financing transactions may be sold or repledged by the counterparties. As collateral for the securities transferred by us, counterparties transfer assets to us, such as cash or high quality fixed maturity securities. Collateral levels are monitored daily and are generally maintained at an agreed-upon percentage of the fair value of the transferred securities during the life of the transactions. When we receive fixed maturity securities as collateral, we do not have the right to sell or repledge this collateral unless an event of default occurs by the counterparties. At the termination of the transactions, we and our counterparties are obligated to return the collateral provided and the securities transferred, respectively. The following table presents the fair value of securities pledged to counterparties under secured financing transactions:
We also enter into agreements in which securities are purchased by us under agreements to resell (reverse repurchase agreements), which are accounted for as secured financing transactions and reported as Short-term investments or Other assets, depending on their terms. These agreements are recorded at their contracted resale amounts plus accrued interest, other than those that are accounted for at fair value. Such agreements entered into by the DIB are carried at fair value based on market observable interest rates. In all reverse repurchase transactions, we take possession of or obtain a security interest in the related securities, and we have the right to sell or repledge this collateral received. The following table presents information on the fair value of securities pledged to us under reverse repurchase agreements:
Insurance – Statutory and Other Deposits Total carrying amounts of cash and securities deposited by our insurance subsidiaries under requirements of regulatory authorities or other insurance-related arrangements, including certain annuity-related obligations and certain reinsurance agreements, were $5.9 billion and $6.7 billion at December 31, 2014 and 2013, respectively. Other Pledges Certain of our subsidiaries are members of Federal Home Loan Banks (FHLBs) and such membership requires the members to own stock in these FHLBs. We owned an aggregate of $44 million and $57 million of stock in FHLBs at December 31, 2014 and 2013, respectively. To the extent an AIG subsidiary borrows from the FHLB, its ownership interest in the stock of FHLBs will be pledged to the FHLB. In addition, our subsidiaries have pledged securities available for sale with a fair value of $535 million and $80 million at December 31, 2014 and 2013, respectively, associated with advances from the FHLBs. Certain GIAs have provisions that require collateral to be posted or payments to be made by us upon a downgrade of our long-term debt ratings. The actual amount of collateral required to be posted to the counterparties in the event of such downgrades, and the aggregate amount of payments that we could be required to make, depend on market conditions, the fair value of outstanding affected transactions and other factors prevailing at and after the time of the downgrade. The fair value of securities pledged as collateral with respect to these obligations approximated $3.5 billion and $4.2 billion at December 31, 2014 and 2013, respectively. This collateral primarily consists of securities of the U.S. government and government sponsored entities and generally cannot be repledged or resold by the counterparties. |
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The entire disclosure for investments in certain debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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LENDING ACTIVITIES
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Dec. 31, 2014
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| LENDING ACTIVITIES | 7. LENDING ACTIVITIES Mortgage and other loans receivable include commercial mortgages, life insurance policy loans, commercial loans, and other loans and notes receivable. Commercial mortgages, commercial loans, and other loans and notes receivable are carried at unpaid principal balances less credit allowances and plus or minus adjustments for the accretion or amortization of discount or premium. Interest income on such loans is accrued as earned. Direct costs of originating commercial mortgages, commercial loans, and other loans and notes receivable, net of nonrefundable points and fees, are deferred and included in the carrying amount of the related receivables. The amount deferred is amortized to income as an adjustment to earnings using the interest method. Life insurance policy loans are carried at unpaid principal amount. There is no allowance for policy loans because these loans serve to reduce the death benefit paid when the death claim is made and the balances are effectively collateralized by the cash surrender value of the policy. The following table presents the composition of Mortgages and other loans receivable:
* Commercial mortgages primarily represent loans for apartments, offices, retail and industrial properties, with exposures in California and New York representing the largest geographic concentrations (14 percent and 18 percent, respectively, at December 31, 2014 and 18 percent and 17 percent, respectively, at December 31, 2013). The following table presents the credit quality indicators for commercial mortgage loans:
(a) Loans that have been modified in troubled debt restructurings and are performing according to their restructured terms. See discussion of troubled debt restructurings below. (b) Does not reflect allowance for losses. (c) Over 99 percent of the commercial mortgages held at such respective dates were current as to payments of principal and interest. Methodology Used to Estimate the Allowance for Losses Mortgage and other loans receivable are considered impaired when collection of all amounts due under contractual terms is not probable. Impairment is measured using either i) the present value of expected future cash flows discounted at the loan’s effective interest rate, ii) the loan’s observable market price, if available, or iii) the fair value of the collateral if the loan is collateral dependent. Impairment of commercial mortgages is typically determined using the fair value of collateral while impairment of other loans is typically determined using the present value of cash flows or the loan’s observable market price. An allowance is typically established for the difference between the impaired value of the loan and its current carrying amount. Additional allowance amounts are established for incurred but not specifically identified impairments, based on the analysis of internal risk ratings and current loan values. Internal risk ratings are assigned based on the consideration of risk factors including past due status, debt service coverage, loan-to-value ratio, property occupancy, profile of the borrower and of the major property tenants, economic trends in the market where the property is located, and condition of the property. These factors and the resulting risk ratings also provide a basis for determining the level of monitoring performed at both the individual loan and the portfolio level. When all or a portion of a loan is deemed uncollectible, the uncollectible portion of the carrying amount of the loan is charged off against the allowance. Interest income on impaired loans is recognized as cash is received. For impaired loans where it has been determined that not all of the contractual principal due will be collected, any cash received is recorded as a reduction of the current carrying amount of the loan. A significant majority of commercial mortgage loans in the portfolio are non-recourse loans and, accordingly, the only guarantees are for specific items that are exceptions to the non-recourse provisions. It is therefore extremely rare for us to have cause to enforce the provisions of a guarantee on a commercial real estate or mortgage loan. The following table presents a rollforward of the changes in the allowance for losses on Mortgage and other loans receivable:
* Of the total allowance at the end of the year, $55 million and $93 million relates to individually assessed credit losses on $192 million and $264 million of commercial mortgage loans as of December 31, 2014 and 2013, respectively. Troubled Debt Restructurings We modify loans to optimize their returns and improve their collectability, among other things. When we undertake such a modification with a borrower that is experiencing financial difficulty and the modification involves us granting a concession to the troubled debtor, the modification is a troubled debt restructuring (TDR). We assess whether a borrower is experiencing financial difficulty based on a variety of factors, including the borrower’s current default on any of its outstanding debt, the probability of a default on any of its debt in the foreseeable future without the modification, the insufficiency of the borrower’s forecasted cash flows to service any of its outstanding debt (including both principal and interest), and the borrower’s inability to access alternative third-party financing at an interest rate that would be reflective of current market conditions for a non-troubled debtor. Concessions granted may include extended maturity dates, interest rate changes, principal or interest forgiveness, payment deferrals and easing of loan covenants. During 2014 and 2013, loans with a carrying value of $218 million and $91 million were modified in TDRs, respectively. |
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The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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REINSURANCE
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Dec. 31, 2014
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| REINSURANCE | 8. REINSURANCE In the ordinary course of business, our insurance companies may use both treaty and facultative reinsurance to minimize their net loss exposure to any single catastrophic loss event or to an accumulation of losses from a number of smaller events or to provide greater diversification of our businesses. In addition, our general insurance subsidiaries assume reinsurance from other insurance companies. We determine the portion of the incurred but not reported (IBNR) loss that will be recoverable under our reinsurance contracts by reference to the terms of the reinsurance protection purchased. This determination is necessarily based on the estimate of IBNR and accordingly, is subject to the same uncertainties as the estimate of IBNR. Reinsurance assets include the balances due from reinsurance and insurance companies under the terms of our reinsurance agreements for paid and unpaid losses and loss adjustment expenses incurred, ceded unearned premiums and ceded future policy benefits for life and accident and health insurance contracts and benefits paid and unpaid. Amounts related to paid and unpaid losses and benefits and loss expenses with respect to these reinsurance agreements are substantially collateralized. We remain liable to the extent that our reinsurers do not meet their obligation under the reinsurance contracts, and as such, we regularly evaluate the financial condition of our reinsurers and monitor concentration of our credit risk. The estimation of the allowance for doubtful accounts requires judgment for which key inputs typically include historical trends regarding uncollectible balances, disputes and credit events as well as specific reviews of balances in dispute or subject to credit impairment. The allowance for doubtful accounts on reinsurance assets was $258 million and $276 million at December 31, 2014 and 2013, respectively. Changes in the allowance for doubtful accounts on reinsurance assets are reflected in Policyholder benefits and losses incurred within the Consolidated Statements of Income. The following table provides supplemental information for loss and benefit reserves, gross and net of ceded reinsurance:
(a) In 2014 and 2013, the Net of Reinsurance amount reflects the cession under the June 17, 2011 transaction with National Indemnity Company (NICO) of $1.5 billion and $1.6 billion, respectively. (b) Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses. Short-Duration Reinsurance Short-duration reinsurance is affected under reinsurance treaties and by negotiation on individual risks. Certain of these reinsurance arrangements consist of excess of loss contracts that protect us against losses above stipulated amounts. Ceded premiums are considered prepaid reinsurance premiums and are recognized as a reduction of premiums earned over the contract period in proportion to the protection received. Amounts recoverable from reinsurers on short-duration contracts are estimated in a manner consistent with the claims liabilities associated with the reinsurance and presented as a component of Reinsurance assets. Assumed reinsurance premiums are earned primarily on a pro-rata basis over the terms of the reinsurance contracts and the portion of premiums relating to the unexpired terms of coverage is included in the reserve for unearned premiums. For both ceded and assumed reinsurance, risk transfer requirements must be met for reinsurance accounting to apply. If risk transfer requirements are not met, the contract is accounted for as a deposit, resulting in the recognition of cash flows under the contract through a deposit asset or liability and not as revenue or expense. To meet risk transfer requirements, a reinsurance contract must include both insurance risk, consisting of both underwriting and timing risk, and a reasonable possibility of a significant loss for the assuming entity. Similar risk transfer criteria are used to determine whether directly written insurance contracts should be accounted for as insurance or as a deposit. The following table presents short-duration insurance premiums written and earned:
For the years ended December 31, 2014, 2013 and 2012, reinsurance recoveries, which reduced losses and loss adjustment expenses incurred, amounted to $2.6 billion, $3.3 billion and $4.5 billion, respectively. Long-Duration Reinsurance Long-duration reinsurance is effected principally under yearly renewable term treaties. The premiums with respect to these treaties are earned over the contract period in proportion to the protection provided. Amounts recoverable from reinsurers on long-duration contracts are estimated in a manner consistent with the assumptions used for the underlying policy benefits and are presented as a component of Reinsurance assets. The following table presents premiums for our long-duration insurance and retirement services operations:
Long-duration reinsurance recoveries, which reduced Policyholder benefits and losses incurred, were approximately $731 million, $714 million and $758 million, respectively, for the years ended December 31, 2014, 2013 and 2012. The following table presents long-duration insurance in-force ceded to other insurance companies:
* Excludes amounts related to held-for-sale entities. Long-duration insurance in force assumed represented 0.04 percent of gross long-duration insurance in force at December 31, 2014, 0.05 percent at December 31, 2013 and 0.05 percent at December 31, 2012, and premiums assumed by the Life Insurance Companies represented 0.5 percent, 0.3 percent and 0.4 percent of gross premiums for the years ended December 31, 2014, 2013 and 2012, respectively. The domestic Life Insurance Companies utilize internal and third-party reinsurance relationships to manage insurance risks and to facilitate capital management strategies, which allows them to minimize the use of letters of credit and utilize capital more efficiently. Pools of highly-rated third-party reinsurers are utilized to manage net amounts at risk in excess of retention limits. The domestic Life Insurance Companies manage the capital impact on their statutory reserve requirements under the NAIC Model Regulation “Valuation of Life Insurance Policies” (Regulation XXX) and NAIC Actuarial Guideline 38 (Guideline AXXX) through intercompany reinsurance transactions. Under GAAP, these intercompany reinsurance transactions are eliminated in consolidation. Under one arrangement, one of the domestic Life Insurance Companies obtains letters of credit to support statutory recognition of the ceded reinsurance. As of December 31, 2014, the domestic Life Insurance Companies had two bilateral letters of credit totaling $450 million with AIG entities, which were issued on February 7, 2014 and expire on February 7, 2019, but will be automatically extended without amendment by one year on each anniversary of the issuance date, unless the issuer provides notice of non-renewal. See Note 20 for additional information on the use of affiliated reinsurance for Regulation XXX and Guideline AXXX reserves. Reinsurance Security Our third-party reinsurance arrangements do not relieve us from our direct obligations to our beneficiaries. Thus, a credit exposure exists with respect to both short-duration and long-duration reinsurance ceded to the extent that any reinsurer fails to meet the obligations assumed under any reinsurance agreement. We hold substantial collateral as security under related reinsurance agreements in the form of funds, securities, and/or letters of credit. A provision has been recorded for estimated unrecoverable reinsurance. |
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The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DEFERRED POLICY ACQUISITION COSTS
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Dec. 31, 2014
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| DEFERRED POLICY ACQUISITION COSTS | 9. DEFERRED POLICY ACQUISITION COSTS Deferred policy acquisition costs (DAC) represent those costs that are incremental and directly related to the successful acquisition of new or renewal of existing insurance contracts. We defer incremental costs that result directly from, and are essential to, the acquisition or renewal of an insurance contract. Such deferred policy acquisition costs generally include agent or broker commissions and bonuses, premium taxes, and medical and inspection fees that would not have been incurred if the insurance contract had not been acquired or renewed. Each cost is analyzed to assess whether it is fully deferrable. We partially defer costs, including certain commissions, when we do not believe that the entire cost is directly related to the acquisition or renewal of insurance contracts. We also defer a portion of employee total compensation and payroll-related fringe benefits directly related to time spent performing specific acquisition or renewal activities, including costs associated with the time spent on underwriting, policy issuance and processing, and sales force contract selling. The amounts deferred are derived based on successful efforts for each distribution channel and/or cost center from which the cost originates. Short-duration insurance contracts: Policy acquisition costs are deferred and amortized over the period in which the related premiums written are earned, generally 12 months. DAC is grouped consistent with the manner in which the insurance contracts are acquired, serviced and measured for profitability and is reviewed for recoverability based on the profitability of the underlying insurance contracts. Investment income is anticipated in assessing the recoverability of DAC. We assess the recoverability of DAC on an annual basis or more frequently if circumstances indicate an impairment may have occurred. This assessment is performed by comparing recorded net unearned premiums and anticipated investment income on in-force business to the sum of expected losses and loss adjustment expenses incurred, unamortized DAC and maintenance costs. If the sum of these costs exceeds the amount of recorded net unearned premiums and anticipated investment income, the excess is recognized as an offset against the asset established for DAC. This offset is referred to as a premium deficiency charge. Increases in expected losses and loss adjustment expenses incurred can have a significant impact on the likelihood and amount of a premium deficiency charge. Long-duration insurance contracts: Policy acquisition costs for participating life, traditional life and accident and health insurance products are generally deferred and amortized, with interest, over the premium paying period. The assumptions used to calculate the benefit liabilities and DAC for these traditional products are set when a policy is issued and do not change with changes in actual experience, unless a loss recognition event occurs. These “locked-in” assumptions include mortality, morbidity, persistency, maintenance expenses and investment returns, and include margins for adverse deviation to reflect uncertainty given that actual experience might deviate from these assumptions. A loss recognition event occurs when there is a shortfall between the carrying amounts of future policy benefit liabilities net of DAC and the amount the future policy benefit liabilities net of DAC would be when applying updated current assumptions. When we determine a loss recognition event has occurred, we first reduce any DAC related to that block of business through amortization of acquisition expense, and after DAC is depleted, we record additional liabilities through a charge to Policyholder benefits and losses incurred. Groupings for loss recognition testing are consistent with our manner of acquiring and servicing the business and applied by product groupings. We perform separate loss recognition tests for traditional life products, payout annuities and long-term care products. Once loss recognition has been recorded for a block of business, the old assumption set is replaced and the assumption set used for the loss recognition would then be subject to the lock-in principle. Investment-oriented contracts: Policy acquisition costs and policy issuance costs related to universal life and investment-type products (collectively, investment-oriented products) are deferred and amortized, with interest, in relation to the incidence of estimated gross profits to be realized over the estimated lives of the contracts. Estimated gross profits include net investment income and spreads, net realized investment gains and losses, fees, surrender charges, expenses, and mortality gains and losses. In each reporting period, current period amortization expense is adjusted to reflect actual gross profits. If estimated gross profits change significantly, DAC is recalculated using the new assumptions, and any resulting adjustment is included in income. If the new assumptions indicate that future estimated gross profits are higher than previously estimated, DAC will be increased resulting in a decrease in amortization expense and increase in income in the current period; if future estimated gross profits are lower than previously estimated, DAC will be decreased resulting in an increase in amortization expense and decrease in income in the current period. Updating such assumptions may result in acceleration of amortization in some products and deceleration of amortization in other products. DAC is grouped consistent with the manner in which the insurance contracts are acquired, serviced and measured for profitability and is reviewed for recoverability based on the current and projected future profitability of the underlying insurance contracts. To estimate future estimated gross profits for variable annuity products, a long-term annual asset growth assumption is applied to determine the future growth in assets and related asset-based fees. In determining the asset growth rate, the effect of short-term fluctuations in the equity markets is partially mitigated through the use of a “reversion to the mean” methodology whereby short-term asset growth above or below long-term annual rate assumptions impact the growth assumption applied to the five-year period subsequent to the current balance sheet date. The reversion to the mean methodology allows us to maintain our long-term growth assumptions, while also giving consideration to the effect of actual investment performance. When actual performance significantly deviates from the annual long-term growth assumption, as evidenced by growth assumptions in the five-year reversion to the mean period falling below a certain rate (floor) or above a certain rate (cap) for a sustained period, judgment may be applied to revise or “unlock” the growth rate assumptions to be used for both the five-year reversion to the mean period as well as the long-term annual growth assumption applied to subsequent periods. Shadow DAC and Shadow Loss Recognition: DAC related to investment-oriented products is also adjusted to reflect the effect of unrealized gains or losses on fixed maturity and equity securities available for sale on estimated gross profits, with related changes recognized through Other comprehensive income (shadow DAC). The adjustment is made at each balance sheet date, as if the securities had been sold at their stated aggregate fair value and the proceeds reinvested at current yields. Similarly, for long-duration traditional insurance contracts, if the assets supporting the liabilities maintain a temporary net unrealized gain position at the balance sheet date, loss recognition testing assumptions are updated to exclude such gains from future cash flows by reflecting the impact of reinvestment rates on future yields. If a future loss is anticipated under this basis, any additional shortfall indicated by loss recognition tests is recognized as a reduction in accumulated other comprehensive income (shadow loss recognition). Similar to other loss recognition on long-duration insurance contracts, such shortfall is first reflected as a reduction in DAC and secondly as an increase in liabilities for future policy benefits. The change in these adjustments, net of tax, is included with the change in net unrealized appreciation of investments that is credited or charged directly to Other comprehensive income. Internal Replacements of Long-duration and Investment-oriented Products: For some products, policyholders can elect to modify product benefits, features, rights or coverages by exchanging a contract for a new contract or by amendment, endorsement, or rider to a contract, or by the election of a feature or coverage within a contract. These transactions are known as internal replacements. If the modification does not substantially change the contract, we do not change the accounting and amortization of existing DAC and related actuarial balances. If an internal replacement represents a substantial change, the original contract is considered to be extinguished and any related DAC or other policy balances are charged or credited to income, and any new deferrable costs associated with the replacement contract are deferred. Value of Business Acquired (VOBA) is determined at the time of acquisition and is reported in the Consolidated Balance Sheets with DAC. This value is based on the present value of future pre-tax profits discounted at yields applicable at the time of purchase. For participating life, traditional life and accident and health insurance products, VOBA is amortized over the life of the business in a manner similar to that for DAC based on the assumptions at purchase. For investment-oriented products, VOBA is amortized in relation to estimated gross profits and adjusted for the effect of unrealized gains or losses on fixed maturity and equity securities available for sale in a manner similar to DAC. The following table presents a rollforward of DAC and VOBA:
* Net of reductions in DAC of $1.4 billion, $1.1 billion, and $1.8 billion for Life Insurance Companies at December 31, 2014, 2013 and 2012, respectively, related to the effect of net unrealized gains and losses on available for sale securities (shadow DAC). The percentage of the unamortized balance of VOBA at December 31, 2014 expected to be amortized in 2015 through 2019 by year is: 10.1 percent, 8.9 percent, 7.9 percent, 7.2 percent and 6.7 percent, respectively, with 59.2 percent being amortized after five years. These projections are based on current estimates for investment income and spreads, persistency, mortality and morbidity assumptions. DAC, VOBA and SIA for insurance-oriented and investment-oriented products are reviewed for recoverability, which involves estimating the future profitability of current business. This review involves significant management judgment. If actual future profitability is substantially lower than estimated, AIG’s DAC, VOBA and SIA may be subject to an impairment charge and AIG’s results of operations could be significantly affected in future periods. |
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| VARIABLE INTEREST ENTITIES | 10. VARIABLE INTEREST ENTITIES A variable interest entity (VIE) is a legal entity that does not have sufficient equity at risk to finance its activities without additional subordinated financial support or is structured such that equity investors lack the ability to make significant decisions relating to the entity’s operations through voting rights or do not substantively participate in the gains and losses of the entity. Consolidation of a VIE by its primary beneficiary is not based on majority voting interest, but is based on other criteria discussed below. We enter into various arrangements with VIEs in the normal course of business and consolidate the VIEs when we determine we are the primary beneficiary. This analysis includes a review of the VIE’s capital structure, related contractual relationships and terms, nature of the VIE’s operations and purpose, nature of the VIE’s interests issued and our involvement with the entity. When assessing the need to consolidate a VIE, we evaluate the design of the VIE as well as the related risks the entity was designed to expose the variable interest holders to. For VIEs with attributes consistent with that of an investment company or a money market fund, the primary beneficiary is the party or group of related parties that absorbs a majority of the expected losses of the VIE, receives the majority of the expected residual returns of the VIE, or both. For all other VIEs, the primary beneficiary is the entity that has both (1) the power to direct the activities of the VIE that most significantly affect the entity’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. While also considering these factors, the consolidation conclusion depends on the breadth of our decision-making ability and our ability to influence activities that significantly affect the economic performance of the VIE. Balance Sheet Classification and Exposure to Loss The following table presents the total assets and total liabilities associated with our variable interests in consolidated VIEs, as classified in the Consolidated Balance Sheets:
(a) Comprised primarily of Short-term investments, Premiums and other receivables and Other assets at both December 31, 2014 and 2013. (b) The assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other liabilities and Derivative liabilities, at fair value, at both December 31, 2014 and 2013. (d) At December 31, 2014 and 2013, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $56.4 million and $50.8 million, respectively. We calculate our maximum exposure to loss to be (i) the amount invested in the debt or equity of the VIE, (ii) the notional amount of VIE assets or liabilities where we have also provided credit protection to the VIE with the VIE as the referenced obligation, and (iii) other commitments and guarantees to the VIE. Interest holders in VIEs sponsored by us generally have recourse only to the assets and cash flows of the VIEs and do not have recourse to us, except in limited circumstances when we have provided a guarantee to the VIE’s interest holders. The following table presents total assets of unconsolidated VIEs in which we hold a variable interest, as well as our maximum exposure to loss associated with these VIEs:
* At December 31, 2014 and 2013, $3.2 billion and $2.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets. Real Estate and Investment Entities Through our insurance operations and AIG Global Real Estate, we are an investor in various real estate investment entities, some of which are VIEs. These investments are typically with unaffiliated third-party developers via a partnership or limited liability company structure. The VIEs’ activities consist of the development or redevelopment of commercial, industrial and residential real estate. Our involvement varies from being a passive equity investor or finance provider to actively managing the activities of the VIEs. Our insurance operations participate as passive investors in the equity issued by certain third-party-managed hedge and private equity funds that are VIEs. Our insurance operations typically are not involved in the design or establishment of these VIEs, nor do they actively participate in the management of the VIEs. Securitization Vehicles We created certain VIEs that hold investments, primarily in investment-grade debt securities and loans, and issued beneficial interests in these investments. The majority of these beneficial interests are owned by our insurance operations and we maintain the power to direct the activities of the VIEs that most significantly impact their economic performance and bear the obligation to absorb losses or receive benefits from the entities that could potentially be significant to the entities. Accordingly, we consolidate these entities and those beneficial interests issued to third-parties are reported as Long-term debt. We also created VIEs for the purpose of acquiring, owning, leasing, maintaining, operating and selling aircraft. We hold beneficial interests, including all the equity interests, in these entities. Other beneficial interests include passive investments by our insurance operations in the majority of the debt issued by these entities. We maintain the power to direct the activities of the VIEs that most significantly impact the entities’ economic performance and bear the obligation to absorb economic losses or receive economic benefits that could potentially be significant to the VIEs. As a result, we consolidate the assets and liabilities of these entities. Structured Investment Vehicle Through DIB, we sponsor Nightingale Finance Ltd., a structured investment vehicle (SIV), which is a VIE. Nightingale Finance Ltd. invests in variable rate, investment-grade debt securities, the majority of which are ABS. We have no equity interest in the SIV, but we maintain the power to direct the activities of the SIV that most significantly impact the entity’s economic performance and bear the obligation to absorb economic losses that could potentially be significant to the SIV. We are the primary beneficiary and consolidate the SIV. Affordable Housing Partnerships SunAmerica Affordable Housing Partners, Inc. (SAAHP) organizes and invests in limited partnerships that develop and operate affordable housing qualifying for federal tax credits, in addition to a few market rate properties across the United States. The operating partnerships are VIEs, whose debt is generally non-recourse in nature, and the general partners of which are mostly unaffiliated third-party developers. We do not consolidate an operating partnership if the general partner is an unaffiliated entity and we do not have the power to direct activities that most significantly impact the entities’ economic performance. Through approximately 900 partnerships, SAAHP has limited partnership investments in developments with approximately 110,000 apartment units nationwide, and as of December 31, 2014, has syndicated approximately $7.7 billion in partnership equity to other investors who will receive, among other benefits, tax credits under certain sections of the Internal Revenue Code. The pre-tax income of SAAHP is reported as a component of the Consumer Insurance segment. RMBS, CMBS, Other ABS and CDOs Primarily through our insurance operations, we are a passive investor in RMBS, CMBS, other ABS and CDOs, the majority of which are issued by domestic special purpose entities. We generally do not sponsor or transfer assets to, or act as the servicer to these asset-backed structures, and were not involved in the design of these entities. Through the DIB, we also invest in CDOs and similar structures, which can be cash-based or synthetic and are managed by third parties. The role of DIB is generally limited to that of a passive investor in structures we do not manage. Our maximum exposure in these types of structures is limited to our investment in securities issued by these entities. Based on the nature of our investments and our passive involvement in these types of structures, we have determined that we are not the primary beneficiary of these entities. We have not included these entities in the above tables; however, the fair values of our investments in these structures are reported in Notes 5 and 6 herein. |
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Disclosure of the entity's involvement with variable interest entities, distinguishing between those that are consolidated and those that are not consolidated. No definition available.
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| DERIVATIVES AND HEDGE ACCOUNTING | 11. DERIVATIVES AND HEDGE ACCOUNTING We use derivatives and other financial instruments as part of our financial risk management programs and as part of our investment operations. Interest rate, currency, equity and commodity swaps, credit contracts (including the super senior credit default swap portfolio), swaptions, options and forward transactions are accounted for as derivatives, recorded on a trade-date basis and carried at fair value. Unrealized gains and losses are reflected in income, when appropriate. In certain instances, a contract’s transaction price is the best indication of initial fair value. Aggregate asset or liability positions are netted on the Consolidated Balance Sheets only to the extent permitted by qualifying master netting arrangements in place with each respective counterparty. Cash collateral posted with counterparties in conjunction with transactions supported by qualifying master netting arrangements is reported as a reduction of the corresponding net derivative liability, while cash collateral received in conjunction with transactions supported by qualifying master netting arrangements is reported as a reduction of the corresponding net derivative asset. Derivatives, with the exception of bifurcated embedded derivatives, are reflected in the Consolidated Balance Sheets in Derivative assets, at fair value and Derivative liabilities, at fair value. A bifurcated embedded derivative is measured at fair value and accounted for in the same manner as a free standing derivative contract. The corresponding host contract is accounted for according to the accounting guidance applicable for that instrument. A bifurcated embedded derivative is generally presented with the host contract in the Consolidated Balance Sheets. See Notes 5 and 14 herein for additional information on embedded policy derivatives. Effective April 1, 2014, we reclassified cross-currency swaps from Interest rate contracts to Foreign exchange contracts. This change was applied prospectively. The following table presents the notional amounts and fair values of our derivative instruments:
(a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b) There were no derivative assets or notionals related to bifurcated embedded derivatives at December 31, 2014. Notional amount of derivative assets and fair value of derivative assets include $23.2 billion and $107 million at December 31, 2013 related to bifurcated embedded derivatives. Notional amount of derivative liabilities and fair values of derivative liabilities include $39.3 billion and $1.5 billion, respectively, at December 31, 2014 and $6.7 billion and $424 million, respectively at December 31, 2013 related to bifurcated embedded derivatives. A bifurcated embedded derivative is generally presented with the host contract in the Consolidated Balance Sheets. (c) Consists primarily of contracts with multiple underlying exposures. The following table presents the fair values of derivative assets and liabilities in the Consolidated Balance Sheets:
(a) Represents derivatives used to hedge the foreign currency and interest rate risk associated with insurance as well as embedded derivatives included in insurance contracts. Assets and liabilities include bifurcated embedded derivatives, which are recorded in Policyholder contract deposits. (b) Represents netting of derivative exposures covered by a qualifying master netting agreement. (c) Represents cash collateral posted and received that is eligible for netting. Collateral We engage in derivative transactions that are not subject to a clearing requirement directly with unaffiliated third parties, in most cases, under International Swaps and Derivatives Association, Inc. (ISDA) agreements. Many of the ISDA agreements also include Credit Support Annex (CSA) provisions, which provide for collateral postings that may vary at various ratings and threshold levels. We attempt to reduce our risk with certain counterparties by entering into agreements that enable collateral to be obtained from a counterparty on an upfront or contingent basis. We minimize the risk that counterparties to transactions might be unable to fulfill their contractual obligations by monitoring counterparty credit exposure and collateral value and may require additional collateral to be posted upon the occurrence of certain events or circumstances. In addition, certain derivative transactions have provisions that require collateral to be posted upon a downgrade of our long-term debt ratings or give the counterparty the right to terminate the transaction. In the case of some of the derivative transactions, upon a downgrade of our long-term debt ratings, as an alternative to posting collateral and subject to certain conditions, we may assign the transaction to an obligor with higher debt ratings or arrange for a substitute guarantee of our obligations by an obligor with higher debt ratings or take other similar action. The actual amount of collateral required to be posted to counterparties in the event of such downgrades, or the aggregate amount of payments that we could be required to make, depends on market conditions, the fair value of outstanding affected transactions and other factors prevailing at and after the time of the downgrade. Collateral posted by us to third parties for derivative transactions was $3.3 billion and $3.2 billion at December 31, 2014 and 2013, respectively. In the case of collateral posted under derivative transactions that are not subject to clearing, this collateral can generally be repledged or resold by the counterparties. Collateral provided to us from third parties for derivative transactions was $1.3 billion and $1.0 billion at December 31, 2014 and 2013, respectively. We generally can repledge or resell collateral posted under derivative transactions that are not subject to clearing. Offsetting We have elected to present all derivative receivables and derivative payables, and the related cash collateral received and paid, on a net basis on our Consolidated Balance Sheets when a legally enforceable ISDA Master Agreement exists between us and our derivative counterparty. An ISDA Master Agreement is an agreement between two counterparties, which may have multiple derivative transactions with each other governed by such agreement, and such ISDA Master Agreement generally provides for the net settlement of all or a specified group of these derivative transactions, as well as pledged collateral, through a single payment, in a single currency, in the event of a default on, or affecting any, one derivative transaction or a termination event affecting all, or a specified group of, derivative transactions. Hedge Accounting We designated certain derivatives entered into by GCM with third parties as fair value hedges of available-for-sale investment securities held by our insurance subsidiaries. The fair value hedges include foreign currency forwards designated as hedges of the change in fair value of foreign currency denominated available-for-sale securities attributable to changes in foreign exchange rates. We previously designated certain interest rate swaps entered into by GCM with third parties as cash flow hedges of certain floating rate debt issued by ILFC, specifically to hedge the changes in cash flows on floating rate debt attributable to changes in the benchmark interest rate. We de-designated such derivatives as cash flow hedges in December 2012 in connection with ILFC being classified as held-for-sale. We use foreign currency denominated debt and cross-currency swaps as hedging instruments in net investment hedge relationships to mitigate the foreign exchange risk associated with our non-U.S. dollar functional currency foreign subsidiaries. We assess the hedge effectiveness and measure the amount of ineffectiveness for these hedge relationships based on changes in spot exchange rates. For the years ended December 31, 2014, 2013, and 2012 we recognized gain of $156 million, and losses of $38 million and $74 million, respectively, included in Change in foreign currency translation adjustments in Other comprehensive income related to the net investment hedge relationships. A qualitative methodology is utilized to assess hedge effectiveness for net investment hedges, while regression analysis is employed for all other hedges. The following table presents the gain (loss) recognized in earnings on our derivative instruments in fair value hedging relationships in the Consolidated Statements of Income:
(a) The amounts presented do not include the periodic net coupon settlements of the derivative contract or the coupon income (expense) related to the hedged item. (b) Represents accretion/amortization of opening fair value of the hedged item at inception of hedge relationship, amortization of basis adjustment on hedged item following the discontinuation of hedge accounting, and the release of debt basis adjustment following the repurchase of issued debt that was part of previously-discontinued fair value hedge relationship. The following table presents the effect of our derivative instruments in cash flow hedging relationships in the Consolidated Statements of Income:
(a) Hedge accounting was discontinued in December 2012 in connection with ILFC being classified as held-for-sale. Gains and losses recognized in earnings are recorded in Income from continuing operations. Previously the effective portion of the change in fair value of a derivative qualifying as a cash flow hedge was recorded in Accumulated other comprehensive income until earnings were affected by the variability of cash flows in the hedged item. Gains and losses reclassified from Accumulated other comprehensive income were previously recorded in Other income. Gains or losses recognized in earnings on derivatives for the ineffective portion were previously recorded in Net realized capital gains (losses). (b) Includes $19 million for the year ended December 2012, representing the reclassification from Accumulated other comprehensive income into earnings following the discontinuation of cash flow hedges of ILFC debt. Derivatives Not Designated as Hedging Instruments The following table presents the effect of our derivative instruments not designated as hedging instruments in the Consolidated Statements of Income:
(a) Includes cross currency swaps. (b) Includes embedded derivative gains (losses) of $(837) million, $1.2 billion and $(170) million for the years ended December 31, 2014, 2013 and 2012, respectively. Global Capital Markets Derivatives Derivative transactions between AIG and its subsidiaries and third parties are generally centralized through GCM, specifically AIG Markets. The derivatives portfolio of AIG Markets consists primarily of interest rate and currency derivatives and also includes legacy credit derivatives that have been novated from AIGFP. AIGFP also enters into derivatives to mitigate market risk in its exposures (interest rates, currencies, credit, commodities and equities) arising from its portfolio of remaining transactions. GCM follows a policy of minimizing interest rate, currency, commodity, and equity risks associated with investment securities by entering into offsetting positions, thereby offsetting a significant portion of the unrealized appreciation and depreciation. Super Senior Credit Default Swaps Credit default swap transactions were entered into by AIGFP with the intention of earning revenue on credit exposure. In the majority of these transactions, we sold credit protection on a designated portfolio of loans or debt securities. Generally, such credit protection was provided on a “second loss” basis, meaning we would incur credit losses only after a shortfall of principal and/or interest, or other credit events, in respect of the protected loans and debt securities, exceeded a specified threshold amount or level of “first losses.” The following table presents the net notional amount (net of all structural subordination below the covered tranches), fair value of derivative liability before the effects of counterparty netting adjustments and offsetting cash collateral and unrealized market valuation gain of the super senior credit default swap portfolio by asset class:
(a) During 2014, we paid $67 million to counterparties with respect to multi-sector CDOs, which was previously included in the fair value of the derivative liability as an unrealized market valuation loss. Collateral postings with regards to multi-sector CDOs were $852 million and $1.1 billion at December 31, 2014 and 2013, respectively. (b) Corporate debt/Collateralized Loan Obligations (CLOs) include $555 million and $1.0 billion in net notional amount of credit default swaps written on the super senior tranches of CLOs at December 31, 2014 and 2013, respectively. Collateral postings with regards to corporate debt/CLOs were $147 million and $353 million at December 31, 2014 and 2013, respectively. (c) On July 17, 2014, AIGFP terminated Corporate Debt Super Senior CDSs with a notional amount of $8.8 billion. The expected weighted average maturity of the super senior credit derivative portfolios as of December 31, 2014 was five years for the multi-sector CDO arbitrage portfolio and three years for the corporate debt/CLO portfolio. Because of long-term maturities of the CDSs in the arbitrage portfolio, we are unable to make reasonable estimates of the periods during which any payments would be made. However, the net notional amount represents the maximum exposure to loss on the super senior credit default swap portfolio. Written Single Name Credit Default Swaps We have legacy credit default swap contracts referencing single-name exposures written on corporate, index and asset-backed credits with the intention of earning spread income on credit exposure. Some of these transactions were entered into as part of a long-short strategy to earn the net spread between CDSs written and purchased. At December 31, 2014 and 2013, the net notional amounts of these written CDS contracts were $190 million and $373 million, respectively, including ABS CDS transactions purchased from a liquidated multi-sector super senior CDS transaction. These exposures were partially hedged by purchasing offsetting CDS contracts of $5 million and $50 million in net notional amounts at December 31, 2014 and 2013, respectively. The net unhedged positions of $185 million and $323 million at December 31, 2014 and 2013, respectively, represent the maximum exposure to loss on these CDS contracts. The average maturity of the written CDS contracts was two years and three years at December 31, 2014 and 2013, respectively. At December 31, 2014 and 2013, the fair values of derivative liabilities (which represents the carrying amount) of the portfolio of CDS was $25 million and $32 million, respectively. Upon a triggering event (e.g., a default) with respect to the underlying reference obligations, settlement is generally effected through the payment of the notional amount of the contract to the counterparty in exchange for the related principal amount of securities issued by the underlying credit obligor (physical settlement) or, in some cases, payment of an amount associated with the value of the notional amount of the reference obligations through a market quotation process (cash settlement). These CDS contracts were written under ISDA Master Agreements. The majority of these ISDA Master Agreements include credit support annexes (CSAs) that provide for collateral postings that may vary at various ratings and threshold levels. At December 31, 2014 and 2013, net collateral posted by us under these contracts was $30 million and $38 million, respectively, prior to offsets for other transactions. All Other Derivatives Our businesses, other than GCM, also use derivatives and other instruments as part of their financial risk management. Interest rate derivatives (such as interest rate swaps) are used to manage interest rate risk associated with embedded derivatives contained in insurance contract liabilities, fixed maturity securities, outstanding medium- and long-term notes as well as other interest rate sensitive assets and liabilities. Foreign exchange derivatives (principally foreign exchange forwards and options) are used to economically mitigate risk associated with non-U.S. dollar denominated debt, net capital exposures, and foreign currency transactions. Equity derivatives are used to mitigate financial risk embedded in certain insurance liabilities. The derivatives are effective economic hedges of the exposures that they are meant to offset. In addition to hedging activities, we also enter into derivative instruments with respect to investment operations, which include, among other things, credit default swaps and purchasing investments with embedded derivatives, such as equity-linked notes and convertible bonds. Credit Risk-Related Contingent Features The aggregate fair value of our derivative instruments that contain credit risk-related contingent features that were in a net liability position at December 31, 2014 and 2013, was approximately $2.5 billion and $2.6 billion, respectively. The aggregate fair value of assets posted as collateral under these contracts at December 31, 2014 and 2013, was $2.7 billion and $3.1 billion, respectively. We estimate that at December 31, 2014, based on our outstanding financial derivative transactions, a one-notch downgrade of our long-term senior debt ratings to BBB+ by Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. (S&P), would permit counterparties to make additional collateral calls and permit certain counterparties to elect early termination of contracts, resulting in a negligible amount of corresponding collateral postings and termination payments; a one-notch downgrade to Baa2 by Moody’s Investors’ Service, Inc. (Moody’s) and an additional one-notch downgrade to BBB by S&P would result in approximately $46 million in additional collateral postings and termination payments, and a further one-notch downgrade to Baa3 by Moody’s and BBB- by S&P would result in approximately $153 million in additional collateral postings and termination payments. Additional collateral postings upon downgrade are estimated based on the factors in the individual collateral posting provisions of the CSA with each counterparty and current exposure as of December 31, 2014. Factors considered in estimating the termination payments upon downgrade include current market conditions, the complexity of the derivative transactions, historical termination experience and other observable market events such as bankruptcy and downgrade events that have occurred at other companies. Our estimates are also based on the assumption that counterparties will terminate based on their net exposure to us. The actual termination payments could significantly differ from our estimates given market conditions at the time of downgrade and the level of uncertainty in estimating both the number of counterparties who may elect to exercise their right to terminate and the payment that may be triggered in connection with any such exercise. Hybrid Securities with Embedded Credit Derivatives We invest in hybrid securities (such as credit-linked notes) with the intent of generating income, and not specifically to acquire exposure to embedded derivative risk. As is the case with our other investments in RMBS, CMBS, CDOs and ABS, our investments in these hybrid securities are exposed to losses only up to the amount of our initial investment in the hybrid security. Other than our initial investment in the hybrid securities, we have no further obligation to make payments on the embedded credit derivatives in the related hybrid securities. We elect to account for our investments in these hybrid securities with embedded written credit derivatives at fair value, with changes in fair value recognized in Net investment income and Other income. Our investments in these hybrid securities are reported as Other bond securities in the Consolidated Balance Sheets. The fair values of these hybrid securities were $6.1 billion and $6.4 billion at December 31, 2014 and 2013, respectively. These securities have par amounts of $12.3 billion and $13.4 billion at December 31, 2014 and 2013, respectively, and both have remaining stated maturity dates that extend to 2052. |
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The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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GOODWILL
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| GOODWILL | 12. GOODWILL Goodwill represents the future economic benefits arising from assets acquired in a business combination that are not individually identified and separately recognized. Goodwill is tested for impairment annually or more frequently if circumstances indicate an impairment may have occurred. We assess goodwill for impairment at one level below our reportable segments. At December 31, 2014, in consideration of the 2014 segment changes, our reporting units with goodwill are Commercial Insurance - Property Casualty, Consumer Insurance - Personal Insurance, and Consumer Insurance - Life. When a business is transferred from one reporting unit to another, as occurred with the transfer of a portion of the Consumer Insurance - Personal Insurance to Consumer Insurance – Life, as part of the 2014 segment changes, goodwill at the original reporting unit is allocated among reporting units based on the fair value of business transferred, relative to business retained by a reporting unit. The impairment assessment involves an option to first assess qualitative factors to determine whether events or circumstances exist that lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the qualitative assessment is not performed, or after assessing the totality of the events or circumstances, we determine it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the impairment assessment involves a two-step process in which a quantitative assessment for potential impairment is performed. If the qualitative test is not performed or if the test indicates a potential impairment is present, we estimate the fair value of each reporting unit and compare the estimated fair value with the carrying amount of the reporting unit, including allocated goodwill. The estimate of a reporting unit’s fair value involves management judgment and is based on one or a combination of approaches including discounted expected future cash flows, market-based earnings multiples of the unit’s peer companies, external appraisals or, in the case of reporting units being considered for sale, third-party indications of fair value, if available. We consider one or more of these estimates when determining the fair value of a reporting unit to be used in the impairment test. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill is not impaired. If the carrying value of a reporting unit exceeds its estimated fair value, goodwill associated with that reporting unit potentially is impaired. The amount of impairment, if any, is measured as the excess of the carrying value of the goodwill over the implied fair value of the goodwill. The implied fair value of the goodwill is measured as the excess of the fair value of the reporting unit over the amounts that would be assigned to the reporting unit’s assets and liabilities in a hypothetical business combination. An impairment charge is recognized in earnings to the extent of the excess of carrying value over fair value. Goodwill was not impaired at December 31, 2014 based on the results of the goodwill impairment test. The following table presents the changes in goodwill by reportable segment:
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The entire disclosure for goodwill. No definition available.
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INSURANCE LIABILITIES
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| LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS | 13. INSURANCE LIABILITIES Liability for Unpaid Losses and Loss Adjustment Expenses The liability for unpaid losses and loss adjustment expenses represents the accumulation of estimates of unpaid claims, including estimates for claims incurred but not reported and claim adjustments expenses, less applicable discount for future investment income. We continually review and update the methods used to determine loss reserve estimates and to establish the resulting reserves. Any adjustments resulting from this review are reflected currently in pre-tax income. Because these estimates are subject to the outcome of future events, changes in estimates are common given that loss trends vary and time is often required for changes in trends to be recognized and confirmed. Reserve changes that increase previous estimates of ultimate cost are referred to as unfavorable or adverse development or reserve strengthening. Reserve changes that decrease previous estimates of ultimate cost are referred to as favorable development. Our gross loss reserves before reinsurance and discount are net of contractual deductible recoverable amounts due from policyholders of approximately $12.4 billion and $12.0 billion at December 31, 2014 and 2013, respectively. These recoverable amounts are related to certain policies with high deductibles (primarily for U.S. commercial casualty business) where we manage and pay the entire claim on behalf of the insured and are reimbursed by the insured for the deductible portion of the claim. At December 31, 2014 and 2013, we held collateral totaling $9.4 billion and $9.0 billion, respectively, for these deductible recoverable amounts, consisting primarily of letters of credit and trust agreements. The following table presents the reconciliation of activity in the Liability for unpaid losses and loss adjustment expenses:
(a) For the 2012 amounts, $847 million was reclassified from "Foreign exchange effect" to "Losses and loss adjustment expenses paid (current year)". The impact of this reclassification was a decrease of $847 million for foreign exchange and loss expenses paid (current year), with no income statement or balance sheet impact. (b) In 2014, included $545 million, $381 million, $(195) million, $135 million and $109 million related to primary casualty, environmental and asbestos, natural catastrophes, financial lines and healthcare, respectively. In 2013, included $(144) million, $269 million, $498 million and $(54) million related to excess casualty, environmental and pollution, primary casualty and healthcare, respectively. In 2012, includes $157 million, $200 million, $531 million and $68 million related to excess casualty, environmental and pollution, primary casualty and healthcare, respectively. (c) Includes amounts related to dispositions through the date of disposition. The net adverse development includes loss-sensitive business, for which we recognized $105 million, $89 million and $54 million loss-sensitive premium adjustments for the years ended December 31, 2014, 2013 and 2012, respectively. Discounting of Reserves At December 31, 2014, the liability for unpaid losses and loss adjustment expenses reflects a net loss reserve discount of $3.1 billion, including tabular and non-tabular calculations based upon the following assumptions:
The discount consists of the following: $852 million of tabular discount for workers’ compensation in the domestic operations of Non-Life Insurance Companies and $2.2 billion of non-tabular discount for workers’ compensation in the domestic operations of Non-Life Insurance Companies; and $11 million — non-tabular discount for asbestos for Non-Life Insurance Companies. Future Policy Benefits Future policy benefits primarily include reserves for traditional life and annuity payout contracts, which represent an estimate of the present value of future benefits less the present value of future net premiums. Included in Future policy benefits are liabilities for annuities issued in structured settlement arrangements whereby a claimant has agreed to settle a general insurance claim in exchange for fixed payments over a fixed determinable period of time with a life contingency feature. Future policy benefits also include certain guaranteed benefits of variable annuity products that are not considered embedded derivatives, primarily guaranteed minimum death benefits. See Note 14 for additional information on guaranteed death benefits. The liability for long-duration future policy benefits has been established including assumptions for interest rates which vary by year of issuance and product, and range from approximately 1 percent to 12 percent. Mortality and surrender rate assumptions are generally based on actual experience when the liability is established. For universal life policies with secondary guarantees, we recognize a future policy benefit reserve, in addition to policyholder contract deposits, based on a benefit ratio of (a) the present value of total expected payments, in excess of the account value, over the life of the contract, divided by (b) the present value of total expected assessments over the life of the contract. For universal life policies without secondary guarantees, for which profits followed by losses are first expected after contract inception, we establish future policy benefit reserves, in addition to policyholder contract deposits, so that expected future losses are recognized in proportion to the emergence of profits in the earlier (profitable) years. Policyholder Contract Deposits The liability for Policyholder contract deposits is primarily recorded at accumulated value (deposits received and net transfers from separate accounts, plus accrued interest credited at rates ranging from 0.3% to 8.4% at December 31, 2014, less withdrawals and assessed fees). Deposits collected on investment-oriented products are not reflected as revenues, because they are recorded directly to Policyholder contract deposits upon receipt. Amounts assessed against the contract holders for mortality, administrative, and other services are included in revenues. In addition to liabilities for universal life, fixed annuities, fixed options within variable annuities, annuities without life contingencies, funding agreements and GICs, policyholder contract deposits also include our liability for (a) certain guaranteed benefits and indexed features accounted for as embedded derivatives at fair value, (b) annuities issued in a structured settlement arrangement with no life contingency and (c) certain contracts we have elected to account for at fair value. See Note 14 herein for additional information on guaranteed benefits accounted for as embedded derivatives. Under a funding agreement-backed notes issuance program, an unaffiliated, non-consolidated statutory trust issues medium-term notes to investors, which are secured by GICs issued to the trust by one of our Life Insurance Companies through our Institutional Markets operating segment. During the year ended December 31, 2014, a $450 million GIC was issued in conjunction with the funding agreement-backed notes program. The following table presents Policyholder contract deposits of the domestic Life Insurance Companies by product line:
Other Policyholder Funds Other policyholder funds include unearned revenue reserves (URR). URR consists of front-end loads on investment-oriented contracts, representing those policy loads that are non-level and typically higher in initial policy years than in later policy years. URR for investment-oriented contracts are generally deferred and amortized, with interest, in relation to the incidence of estimated gross profits (EGPs) to be realized over the estimated lives of the contracts and are subject to the same adjustments due to changes in the assumptions underlying EGPs as DAC. Amortization of URR is recorded in Policy Fees. Other policyholder funds also include provisions for future dividends to participating policyholders, accrued in accordance with all applicable regulatory or contractual provisions. Participating life business represented approximately 1.9 percent of the gross insurance in force at December 31, 2014 and 3.7 percent of gross Premiums and other considerations in 2014. The amount of annual dividends to be paid is approved locally by the boards of directors of the insurance companies. Provisions for future dividend payments are computed by jurisdiction, reflecting local regulations. The portions of current and prior net income and of current unrealized appreciation of investments that can inure to our benefit are restricted in some cases by the insurance contracts and by the local insurance regulations of the jurisdictions in which the policies are in force. Certain products are subject to experience adjustments. These include group life and group medical products, credit life contracts, accident and health insurance contracts/riders attached to life policies and, to a limited extent, reinsurance agreements with other direct insurers. Ultimate premiums from these contracts are estimated and recognized as revenue with the unearned portions of the premiums recorded as liabilities in Other policyholder funds. Experience adjustments vary according to the type of contract and the territory in which the policy is in force and are subject to local regulatory guidance. |
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The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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VARIABLE LIFE AND ANNUITY CONTRACTS
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| VARIABLE LIFE AND ANNUITY CONTRACTS | 14. VARIABLE LIFE AND ANNUITY CONTRACTS We report variable contracts within the separate accounts when investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder and the separate account meets additional accounting criteria to qualify for separate account treatment. The assets supporting the variable portion of variable annuity and variable universal life contracts that qualify for separate account treatment are carried at fair value and reported as separate account assets, with an equivalent summary total reported as separate account liabilities. Policy values for variable products and investment contracts are expressed in terms of investment units. Each unit is linked to an asset portfolio. The value of a unit increases or decreases based on the value of the linked asset portfolio. The current liability at any time is the sum of the current unit value of all investment units in the separate accounts, plus any liabilities for guaranteed minimum death benefits or guaranteed minimum withdrawal benefits included in Future policy benefits or Policyholder contract deposits, respectively. Amounts assessed against the contract holders for mortality, administrative and other services are included in revenue. Net investment income, net investment gains and losses, changes in fair value of assets, and policyholder account deposits and withdrawals related to separate accounts are excluded from the Consolidated Statements of Income, Comprehensive Income (Loss) and Cash Flows. Variable annuity contracts may include certain contractually guaranteed benefits to the contract holder. These guaranteed features include guaranteed minimum death benefits (GMDB) that are payable in the event of death, and living benefits that are payable in the event of annuitization, or, in other instances, at specified dates during the accumulation period. Living benefits include guaranteed minimum income benefits (GMIB), guaranteed minimum withdrawal benefits (GMWB) and guaranteed minimum account value benefits (GMAV). A variable annuity contract may include more than one type of guaranteed benefit feature; for example, it may have both a GMDB and a GMWB. However, a policyholder can only receive payout from one guaranteed feature on a contract containing a death benefit and a living benefit, i.e. the features are mutually exclusive. A policyholder cannot purchase more than one living benefit on one contract. The net amount at risk for each feature is calculated irrespective of the existence of other features; as a result, the net amount at risk for each feature is not additive to that of other features. Account balances of variable annuity contracts with guarantees were invested in separate account investment options as follows:
GMDB and GMIB Depending on the contract, the GMDB feature may provide a death benefit of either (a) total deposits made to the contract less any partial withdrawals plus a minimum return (and in rare instances, no minimum return) or (b) the highest contract value attained, typically on any anniversary date minus any subsequent withdrawals following the contract anniversary. GMIB guarantees a minimum level of periodic income payments upon annuitization. GMDB is our most widely offered benefit; our contracts also include GMIB to a lesser extent. The liabilities for GMDB and GMIB, which are recorded in Future policyholder benefits, represent the expected value of benefits in excess of the projected account value, with the excess recognized ratably over the accumulation period based on total expected assessments, through Policyholder benefits and losses incurred. The net amount at risk for GMDB represents the amount of benefits in excess of account value if death claims were filed on all contracts on the balance sheet date. The following table presents details concerning our GMDB exposures, by benefit type:
The following summarizes GMDB and GMIB liabilities related to variable annuity contracts:
We regularly evaluate estimates used to determine the GMDB liability and adjust the additional liability balance, with a related charge or credit to Policyholder benefits and losses incurred, if actual experience or other evidence suggests that earlier assumptions should be revised. The following assumptions and methodology were used to determine the GMDB liability at December 31, 2014:
GMWB and GMAV Certain of our variable annuity contracts contain optional GMWB benefits and, to a lesser extent, GMAV benefits, which are not currently offered. With a GMWB, the contract holder can monetize the excess of the guaranteed amount over the account value of the contract only through a series of withdrawals that do not exceed a specific percentage per year of the guaranteed amount. If, after the series of withdrawals, the account value is exhausted, the contract holder will receive a series of annuity payments equal to the remaining guaranteed amount, and, for lifetime GMWB products, the annuity payments continue as long as the covered person(s) is living. With a GMAV benefit, the contract holder can monetize the excess of the guaranteed amount over the account value of the contract, provided the contract holder persists until the maturity date. The liabilities for GMWB and GMAV, which are recorded in Policyholder contract deposits, are accounted for as embedded derivatives measured at fair value, with changes in the fair value of the liabilities recorded in Other net realized capital gains (losses). The fair value of these embedded derivatives was a net liability of $957 million at December 31, 2014 and a net asset of $37 million at December 31, 2013. See Note 5 herein for discussion of the fair value measurement of guaranteed benefits that are accounted for as embedded derivatives. We had account values subject to GMWB and GMAV that totaled $35 billion and $28.6 billion at December 31, 2014 and 2013, respectively. The net amount at risk for GMWB represents the present value of minimum guaranteed withdrawal payments, in accordance with contract terms, in excess of account value, assuming no lapses. The net amount at risk for GMAV represents the present value of minimum guaranteed account value in excess of the current account balance, assuming no lapses. The net amount at risk related to these guarantees was $414 million and $63 million at December 31, 2014 and 2013, respectively. The increase in 2014 was primarily due to a decrease in interest rates. We use derivative instruments and other financial instruments to mitigate a portion of our exposure that arises from GMWB and GMAV benefits. See Note 1 for discussion of presentation changes for policy fees that are related primarily to GMWB embedded derivatives. |
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| DEBT | 15. DEBT Our long-term debt is denominated in various currencies, with both fixed and variable interest rates. Long-term debt is carried at the principal amount borrowed, including unamortized discounts, hedge accounting valuation adjustments and fair value adjustments, when applicable. The interest rates presented in the following table reflect the range of contractual rates in effect at December 31, 2014, including fixed and variable rate issuances. The following table lists our total debt outstanding at December 31, 2014 and 2013. The interest rates presented in the following table are the range of contractual rates in effect at December 31, 2014, including fixed and variable-rates:
(a) AIG Parent guarantees all DIB debt, except for MIP notes payable and Series AIGFP matched notes and bonds payable, which are direct obligations of AIG Parent. (b) At December 31, 2014, includes debt of consolidated investments held through AIG Global Real Estate Investment Corp., AIG Credit Corp., AIGLH and AIG Property Casualty Inc. of $2.0 billion, $54 million, $1.5 billion and $122 million, respectively. At December 31, 2013, includes debt of consolidated investments held through AIG Global Real Estate Investment Corp., AIG Credit Corp., AIGLH and AIG Property Casualty Inc. of $1.5 billion, $111 million, $696 million and $58 million, respectively. (c) At December 31, 2013, excludes $21.4 billion related to ILFC as it is classified as a held-for-sale business. The following table presents maturities of long-term debt (including unamortized original issue discount, hedge accounting valuation adjustments and fair value adjustments, when applicable), excluding $3.7 billion in borrowings of debt of consolidated investments:
Uncollateralized and collateralized notes, bonds, loans and mortgages payable consisted of the following:
* AIG does not guarantee any of these borrowings. Junior Subordinated Debt In August 2012, we entered into new replacement capital covenants (the New RCCs) for the initial benefit of the holders of our 2.375% Subordinated Notes due 2015 (the Subordinated Notes), in connection with our 5.75% Series A-2 Junior Subordinated Debentures and our 4.875% Series A-3 Junior Subordinated Debentures. We covenanted in each New RCC that, subject to certain exceptions, we would not repay, redeem or purchase, and that none of our subsidiaries would purchase, the applicable series of junior subordinated debentures prior to the scheduled termination date of that New RCC, unless since the date 360 days prior to the date of that repayment, redemption or purchase, we have received a specified amount of net cash proceeds from the sale of common stock or certain other qualifying securities that have certain characteristics that are at least as equity-like as the applicable characteristics of the applicable series of junior subordinated debentures, or we or our subsidiaries have issued a specified amount of common stock in connection with the conversion or exchange of certain convertible or exchangeable securities. In the first quarter of 2013, our obligations under the New RCCs were effectively terminated because one of the termination provisions set forth in the New RCCs was triggered when it was determined that neither series of junior subordinated debentures received equity credit any longer for rating agency purposes. In 2014, we repurchased approximately $2.4 billion aggregate principal amount of our 8.175% Series A-6 Junior Subordinated Debentures. AIGLH Junior Subordinated Debentures (Formerly, Liabilities Connected To Trust Preferred Stock) In connection with our acquisition of AIG Life Holdings, Inc. (AIGLH) in 2001, we entered into arrangements with AIGLH with respect to outstanding AIGLH capital securities. In 1996, AIGLH issued capital securities through a trust to institutional investors and funded the trust with AIGLH junior subordinated debentures issued to the trust with the same terms as the capital securities. On July 11, 2013, the AIGLH junior subordinated debentures were distributed to holders of the capital securities, the capital securities were cancelled and the trusts were dissolved. At December 31, 2014, the junior subordinated debentures outstanding consisted of $155 million of 8.5 percent junior subordinated debentures due July 2030, $245 million of 8.125 percent junior subordinated debentures due March 2046 and $136 million of 7.57 percent junior subordinated debentures due December 2045, each guaranteed by AIG Parent. Credit Facilities The five-year syndicated credit facility that we entered into on June 19, 2014 (the Five-Year Facility) provides for $4.0 billion of unsecured revolving loans and/or standby letters of credit without any limits on the type of borrowings. As of December 31, 2014, a total of $4 billion remains available under the Five-Year Facility. We expect we may draw down on the Five-Year Facility from time to time, and may use the proceeds for general corporate purposes. The Five-Year Facility is summarized in the following table.
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| CONTINGENCIES, COMMITMENTS AND GUARANTEES | 16. CONTINGENCIES, COMMITMENTS AND GUARANTEES In the normal course of business, various contingent liabilities and commitments are entered into by AIG and our subsidiaries. In addition, AIG Parent guarantees various obligations of certain subsidiaries. Although AIG cannot currently quantify its ultimate liability for unresolved litigation and investigation matters, including those referred to below, it is possible that such liability could have a material adverse effect on AIG’s consolidated financial condition or its consolidated results of operations or consolidated cash flows for an individual reporting period. Legal Contingencies Overview. In the normal course of business, AIG and our subsidiaries are, like others in the insurance and financial services industries in general, subject to litigation, including claims for punitive damages. In our insurance and mortgage guaranty operations, litigation arising from claims settlement activities is generally considered in the establishment of our liability for unpaid losses and loss adjustment expenses. However, the potential for increasing jury awards and settlements makes it difficult to assess the ultimate outcome of such litigation. AIG is also subject to derivative, class action and other claims asserted by its shareholders and others alleging, among other things, breach of fiduciary duties by its directors and officers and violations of insurance laws and regulations, as well as federal and state securities laws. In the case of any derivative action brought on behalf of AIG, any recovery would accrue to the benefit of AIG. Various regulatory and governmental agencies have been reviewing certain transactions and practices of AIG and our subsidiaries in connection with industry-wide and other inquiries into, among other matters, certain business practices of current and former operating insurance subsidiaries. We have cooperated, and will continue to cooperate, in producing documents and other information in response to subpoenas and other requests. AIG’s Subprime Exposure, AIGFP Credit Default Swap Portfolio and Related Matters AIG, AIGFP and certain directors and officers of AIG, AIGFP and other AIG subsidiaries have been named in various actions relating to our exposure to the U.S. residential subprime mortgage market, unrealized market valuation losses on AIGFP’s super senior credit default swap portfolio, losses and liquidity constraints relating to our securities lending program and related disclosure and other matters (Subprime Exposure Issues). Consolidated 2008 Securities Litigation. Between May 21, 2008 and January 15, 2009, eight purported securities class action complaints were filed against AIG and certain directors and officers of AIG and AIGFP, AIG’s outside auditors, and the underwriters of various securities offerings in the United States District Court for the Southern District of New York (the Southern District of New York), alleging claims under the Securities Exchange Act of 1934, as amended (the Exchange Act), or claims under the Securities Act of 1933, as amended (the Securities Act). On March 20, 2009, the Court consolidated all eight of the purported securities class actions as In re American International Group, Inc. 2008 Securities Litigation (the Consolidated 2008 Securities Litigation). On May 19, 2009, the lead plaintiff in the Consolidated 2008 Securities Litigation filed a consolidated complaint on behalf of purchasers of AIG Common Stock during the alleged class period of March 16, 2006 through September 16, 2008, and on behalf of purchasers of various AIG securities offered pursuant to AIG’s shelf registration statements. The consolidated complaint alleges that defendants made statements during the class period in press releases, AIG’s quarterly and year-end filings, during conference calls, and in various registration statements and prospectuses in connection with the various offerings that were materially false and misleading and that artificially inflated the price of AIG Common Stock. The alleged false and misleading statements relate to, among other things, the Subprime Exposure Issues. The consolidated complaint alleges violations of Sections 10(b) and 20(a) of the Exchange Act and Sections 11, 12(a)(2), and 15 of the Securities Act. On August 5, 2009, defendants filed motions to dismiss the consolidated complaint, and on September 27, 2010, the Court denied the motions to dismiss. On April 26, 2013, the Court dismissed all claims against the outside auditors in their entirety, and it also reduced the scope of the Securities Act claims against AIG and defendants other than the outside auditors. On July 15, 2014, lead plaintiffs and all defendants except AIG’s outside auditors accepted a mediator’s proposal to settle the Consolidated 2008 Securities Litigation for a cash payment by AIG of $960 million (the AIG Settlement). On August 1, 2014, lead plaintiff and AIG’s outside auditors accepted a mediator’s proposal to resolve the Consolidated 2008 Securities Litigation for a cash payment by the outside auditors (the Auditor Settlement and, collectively with the AIG Settlement, the Settlement). On October 7, 2014, the Court granted lead plaintiff’s Motion for Preliminary Approval of Settlement and Approval of Notice to the Class and scheduled a final settlement approval hearing for March 20, 2015. The deadline for parties to exclude themselves from the Settlement passed on January 5, 2015. The Settlement remains subject to final approval by the Court. On October 22, 2014, AIG made a cash payment of $960 million, which is being held in escrow pending final approval of the AIG Settlement and which will be returned if the AIG Settlement is not approved. The AIG Settlement amount has been accrued. Individual Securities Litigations. Between November 18, 2011 and September 16, 2013, nine separate, though similar, securities actions were filed asserting claims substantially similar to those in the Consolidated 2008 Securities Litigation against AIG and certain directors and officers of AIG and AIGFP (one such action also names as defendants AIG’s outside auditor and the underwriters of various securities offerings). Two such actions have been voluntarily dismissed; the remainder are now pending in the Southern District of New York. On January 20, 2015, AIG and other defendants filed motions to dismiss some or all of the claims asserted in all such actions pending as of that date. On February 2, 2015, and February 9, 2015, two additional securities actions were filed in the Southern District of New York asserting claims substantially similar to those in the Consolidated 2008 Securities Litigation against AIG (one of the two actions also names as defendants certain directors and officers of AIG and AIGFP, and AIG’s outside auditor and certain of AIG’s underwriters during the relevant period). We have accrued our current estimate of probable loss with respect to the pending litigations and other potential related litigations. ERISA Actions – Southern District of New York. Between June 25, 2008 and November 25, 2008, AIG, certain directors and officers of AIG, and members of AIG’s Retirement Board and Investment Committee were named as defendants in eight purported class action complaints asserting claims on behalf of participants in certain pension plans sponsored by AIG or its subsidiaries. The Court subsequently consolidated these eight actions as In re American International Group, Inc. ERISA Litigation II. On December 19, 2014, lead plaintiffs’ counsel filed under seal a third consolidated amended complaint. The action purports to be brought as a class action under the Employee Retirement Income Security Act of 1974, as amended (ERISA), on behalf of all participants in or beneficiaries of certain benefit plans of AIG and its subsidiaries that offered shares of AIG Common Stock. In the third consolidated amended complaint, plaintiffs allege, among other things, that the defendants breached their fiduciary responsibilities to plan participants and their beneficiaries under ERISA, by continuing to offer the AIG Stock Fund as an investment option in the plans after it allegedly became imprudent to do so. The alleged ERISA violations relate to, among other things, the defendants’ purported failure to monitor and/or disclose certain matters, including the Subprime Exposure Issues. On January 6, 2015, the parties informed the Court that they had accepted a mediator’s proposal to settle the action for $40 million. On January 7, 2015, the Court removed all previously scheduled deadlines from the Court’s calendar, subject to the parties’ submission of settlement papers to the Court seeking an order preliminarily approving the proposed settlement and providing for notice to the class and a final settlement hearing. The entirety of the $40 million settlement is expected to be paid by AIG’s fiduciary liability insurance carriers. Canadian Securities Class Action – Ontario Superior Court of Justice. On November 12, 2008, an application was filed in the Ontario Superior Court of Justice for leave to bring a purported class action against AIG, AIGFP, certain directors and officers of AIG and Joseph Cassano, the former Chief Executive Officer of AIGFP, pursuant to the Ontario Securities Act. If the Court grants the application, a class plaintiff will be permitted to file a statement of claim against defendants. The proposed statement of claim would assert a class period of March 16, 2006 through September 16, 2008 and would allege that during this period defendants made false and misleading statements and omissions in quarterly and annual reports and during oral presentations in violation of the Ontario Securities Act. On April 17, 2009, defendants filed a motion record in support of their motion to stay or dismiss for lack of jurisdiction and forum non conveniens. On July 12, 2010, the Court adjourned a hearing on the motion pending a decision by the Supreme Court of Canada in a pair of actions captioned Club Resorts Ltd. v. Van Breda 2012 SCC 17. On April 18, 2012, the Supreme Court of Canada clarified the standard for determining jurisdiction over foreign and out-of-province defendants, such as AIG, by holding that a defendant must have some form of “actual,” as opposed to a merely “virtual,” presence to be deemed to be “doing business” in the jurisdiction. The Supreme Court of Canada also suggested that in future cases, defendants may contest jurisdiction even when they are found to be doing business in a Canadian jurisdiction if their business activities in the jurisdiction are unrelated to the subject matter of the litigation. The matter has been stayed pending further developments in the Consolidated 2008 Securities Litigation. Plaintiff has not yet moved to lift the stay. In plaintiff’s proposed statement of claim, plaintiff alleged general and special damages of $500 million and punitive damages of $50 million plus prejudgment interest or such other sums as the Court finds appropriate. As of February 20, 2015, the Court has not determined whether it has jurisdiction or granted plaintiff’s application to file a statement of claim, no merits discovery has occurred and the action has been stayed. As a result, we are unable to reasonably estimate the possible loss or range of losses, if any, arising from the litigation. Starr International Litigation On November 21, 2011, Starr International Company, Inc. (SICO) filed a complaint against the United States in the United States Court of Federal Claims (the Court of Federal Claims), bringing claims, both individually and on behalf of the classes defined below and derivatively on behalf of AIG (the SICO Treasury Action). The complaint challenges the government’s assistance of AIG, pursuant to which AIG entered into a credit facility with the Federal Reserve Bank of New York (the FRBNY, and such credit facility, the FRBNY Credit Facility) and the United States received an approximately 80 percent ownership in AIG. The complaint alleges that the interest rate imposed on AIG and the appropriation of approximately 80 percent of AIG’s equity was discriminatory, unprecedented, and inconsistent with liquidity assistance offered by the government to other comparable firms at the time and violated the Equal Protection, Due Process, and Takings Clauses of the U.S. Constitution. In rulings dated July 2, 2012 and September 17, 2012, the Court of Federal Claims largely denied the United States’ motion to dismiss in the SICO Treasury Action. In the SICO Treasury Action, the only claims naming AIG as a party (as a nominal defendant) are derivative claims on behalf of AIG. On September 21, 2012, SICO made a pre-litigation demand on our Board demanding that we pursue the derivative claims or allow SICO to pursue the claims on our behalf. On January 9, 2013, our Board unanimously refused SICO’s demand in its entirety and on January 23, 2013, counsel for the Board sent a letter to counsel for SICO describing the process by which our Board considered and refused SICO’s demand and stating the reasons for our Board’s determination. On March 11, 2013, SICO filed a second amended complaint in the SICO Treasury Action alleging that its demand was wrongfully refused. On June 26, 2013, the Court of Federal Claims granted AIG’s and the United States’ motions to dismiss SICO’s derivative claims in the SICO Treasury Action and denied the United States’ motion to dismiss SICO’s direct claims. On March 11, 2013, the Court of Federal Claims in the SICO Treasury Action granted SICO’s motion for class certification of two classes with respect to SICO’s non-derivative claims: (1) persons and entities who held shares of AIG Common Stock on or before September 16, 2008 and who owned those shares on September 22, 2008; and (2) persons and entities who owned shares of AIG Common Stock on June 30, 2009 and were eligible to vote those shares at AIG’s June 30, 2009 annual meeting of shareholders. SICO has provided notice of class certification to potential members of the classes, who, pursuant to a court order issued on April 25, 2013, had to return opt-in consent forms by September 16, 2013 to participate in either class. 286,908 holders of AIG Common Stock during the two class periods have opted into the classes. Trial in the SICO Treasury Action began in the Court of Federal Claims on September 29, 2014, and witness testimony concluded on November 24, 2014. SICO argued during trial that the two classes are entitled to a total of approximately $40 billion in damages, plus interest. The parties are in the process of post-trial briefing. While AIG is no longer a party to the SICO Treasury Action, the United States has alleged, as an affirmative defense in its answer, that AIG is obligated to indemnify the FRBNY and its representatives, including the Federal Reserve Board of Governors and the United States (as the FRBNY’s principal), for any recovery in the SICO Treasury Action, and seeks a contingent offset or recoupment for the value of net operating loss benefits the United States alleges that we received as a result of the government’s assistance. On November 8, 2013, the Court denied a motion by SICO to strike the United States’ affirmative defenses of indemnification and contingent offset or recoupment. AIG believes that any such indemnification obligation would arise only if: (a) SICO prevails on its claims at trial and receives an award of damages and prevails through any appellate process; (b) the United States commences an action against AIG seeking indemnification; and (c) the United States is successful in such an action through any appellate process. If SICO prevails on its claims and the United States seeks indemnification from AIG, AIG intends to assert defenses thereto. A final determination that the United States is liable for damages, together with a final determination that AIG is obligated to indemnify the United States for any such damages, could have a material adverse effect on our business, consolidated financial condition and results of operations. False Claims Act Complaint On February 25, 2010, a complaint was filed in the United States District Court for the Southern District of California by two individuals (Relators) seeking to assert claims on behalf of the United States against AIG and certain other defendants, including Goldman Sachs and Deutsche Bank, under the False Claims Act. Relators filed a first amended complaint on September 30, 2010, adding certain additional defendants, including Bank of America and Société Générale. The first amended complaint alleged that defendants engaged in fraudulent business practices in respect of their activities in the over-the-counter market for collateralized debt obligations, and submitted false claims to the United States in connection with the FRBNY Credit Facility and Maiden Lane II LLC (ML II) and Maiden Lane III LLC entities (the Maiden Lane Interests) through, among other things, misrepresenting AIG’s ability and intent to repay amounts drawn on the FRBNY Credit Facility, and misrepresenting the value of the securities that the Maiden Lane Interests acquired from AIG and certain of its counterparties. The first amended complaint sought unspecified damages pursuant to the False Claims Act in the amount of three times the damages allegedly sustained by the United States as well as interest, attorneys’ fees, costs and expenses. The complaint and the first amended complaint were initially filed and maintained under seal while the United States considered whether to intervene in the action. On or about April 28, 2011, after the United States declined to intervene, the District Court lifted the seal, and Relators served the first amended complaint on AIG on July 11, 2011. On April 19, 2013, the Court granted AIG’s motion to dismiss, dismissing the first amended complaint in its entirety, without prejudice, giving the Relators the opportunity to file a second amended complaint. On May 24, 2013, the Relators filed a second amended complaint, which attempted to plead the same claims as the prior complaints and did not specify an amount of alleged damages. AIG and its co-defendants filed motions to dismiss the second amended complaint on August 9, 2013. On March 29, 2014, the Court dismissed the second amended complaint with prejudice. On April 30, 2014, the Relators filed a Notice of Appeal to the Ninth Circuit. We are unable to reasonably estimate the possible loss or range of losses, if any, arising from the litigation. Litigation Matters Relating to AIG’s Insurance Operations Caremark. AIG and certain of its subsidiaries have been named defendants in two putative class actions in state court in Alabama that arise out of the 1999 settlement of class and derivative litigation involving Caremark Rx, Inc. (Caremark). The plaintiffs in the second-filed action intervened in the first-filed action, and the second-filed action was dismissed. An excess policy issued by a subsidiary of AIG with respect to the 1999 litigation was expressly stated to be without limit of liability. In the current actions, plaintiffs allege that the judge approving the 1999 settlement was misled as to the extent of available insurance coverage and would not have approved the settlement had he known of the existence and/or unlimited nature of the excess policy. They further allege that AIG, its subsidiaries, and Caremark are liable for fraud and suppression for misrepresenting and/or concealing the nature and extent of coverage. The complaints filed by the plaintiffs and the intervenors request compensatory damages for the 1999 class in the amount of $3.2 billion, plus punitive damages. AIG and its subsidiaries deny the allegations of fraud and suppression, assert that information concerning the excess policy was publicly disclosed months prior to the approval of the settlement, that the claims are barred by the statute of limitations, and that the statute cannot be tolled in light of the public disclosure of the excess coverage. The plaintiffs and intervenors, in turn, have asserted that the disclosure was insufficient to inform them of the nature of the coverage and did not start the running of the statute of limitations. On August 15, 2012, the trial court entered an order granting plaintiffs’ motion for class certification, and on September 12, 2014, the Alabama Supreme Court affirmed that order. AIG and the other defendants have petitioned for rehearing of that decision. Absent further review of the class certification order, the matter will return to the trial court for general discovery (which has not yet commenced) and adjudication of the merits. AIG is unable to reasonably estimate the possible loss or range of losses, if any, arising from the litigation. Regulatory and Related Matters In April 2007, the National Association of Insurance Commissioners (NAIC) formed a Settlement Review Working Group, directed by the State of Indiana, to review the Workers’ Compensation Residual Market Assessment portion of the settlement between AIG, the Office of the New York Attorney General, and the New York State Department of Insurance. In late 2007, the Settlement Review Working Group, under the direction of Indiana, Minnesota and Rhode Island, recommended that a multi-state targeted market conduct examination focusing on workers’ compensation insurance be commenced under the direction of the NAIC’s Market Analysis Working Group. AIG was informed of the multi-state targeted market conduct examination in January 2008. The lead states in the multi-state examination were Delaware, Florida, Indiana, Massachusetts, Minnesota, New York, Pennsylvania and Rhode Island. All other states (and the District of Columbia) agreed to participate in the multi-state examination. The examination focused on legacy issues related to certain AIG entities’ writing and reporting of workers compensation insurance between 1985 and 1996. On December 17, 2010, AIG and the lead states reached an agreement to settle all regulatory liabilities arising out of the subjects of the multistate examination. This regulatory settlement agreement, which was agreed to by all 50 states and the District of Columbia, included, among other terms, (i) AIG’s payment of $100 million in regulatory fines and penalties; (ii) AIG’s payment of $46.5 million in outstanding premium taxes and assessments; (iii) AIG’s agreement to enter into a compliance plan describing agreed-upon specific steps and standards for evaluating AIG’s ongoing compliance with state regulations governing the setting of workers’ compensation insurance premium rates and the reporting of workers compensation premiums; and (iv) AIG’s agreement to pay up to $150 million in contingent fines in the event that AIG fails to comply substantially with the compliance plan requirements. In furtherance of the compliance plan, the agreement provided for a monitoring period from May 29, 2012 to May 29, 2014 leading up to a compliance plan examination. After the close of the monitoring period, as part of preparation for the actual conduct of the compliance plan examination, on or about October 1, 2014, AIG and the lead states agreed upon corrective action plans to address particular issues identified during the monitoring period. The compliance plan examination is ongoing. There can be no assurance that the result of the compliance plan examination will not result in a fine, have a material adverse effect on AIG’s ongoing operations or lead to civil litigation. In connection with a multi-state examination of certain accident and health products, including travel products, issued by National Union Fire Insurance Company of Pittsburgh, Pa. (National Union), AIG Property Casualty Inc. (formerly Chartis Inc.), on behalf of itself, National Union, and certain of AIG Property Casualty Inc.’s insurance and non-insurance companies (collectively, the AIG PC parties) entered into a Regulatory Settlement Agreement with regulators from 50 U.S. jurisdictions effective November 29, 2012. Under the agreement, and without admitting any liability for the issues raised in the examination, the AIG PC parties (i) paid a civil penalty of $50 million, (ii) entered into a corrective action plan describing agreed-upon specific steps and standards for evaluating the AIG PC parties’ ongoing compliance with laws and regulations governing the issues identified in the examination, and (iii) agreed to pay a contingent fine in the event that the AIG PC parties fail to satisfy certain terms of the corrective action plan. National Union and other AIG companies are also currently subject to civil litigation relating to the conduct of their accident and health business, and may be subject to additional litigation relating to the conduct of such business from time to time in the ordinary course. There can be no assurance that any regulatory action resulting from the issues identified will not have a material adverse effect on our ongoing operations of the business subject to the agreement, or on similar business written by other AIG carriers. Industry-wide examinations conducted by the Minnesota Department of Insurance and the Department of Housing and Urban Development (HUD) on captive reinsurance practices by lenders and mortgage insurance companies, including UGC, have been ongoing for several years. In 2011, the Consumer Financial Protection Bureau (CFPB) assumed responsibility for violations of the Real Estate Settlement Procedures Act from HUD, and assumed HUD’s aforementioned ongoing investigation. UGC and the CFPB reached a settlement, entered on April 8, 2013 by the United States District Court for the Southern District of Florida, where UGC consented to discontinue its remaining captive reinsurance practices and to pay a civil monetary penalty of $4.5 million to the CFPB. The settlement includes a release for all liability related to UGC’s captive reinsurance practices and resolves the CFPB’s investigation. On January 31, 2014, PHH Corp. and various affiliates (all non-parties to the action and the consent order) filed a motion to reopen the case and to intervene therein for the limited purpose of obtaining a declaratory judgment enforcing the consent order. UGC opposed this request, and on March 10, 2014, the Court denied PHH Corp.’s motion. PHH Corp. has appealed to the Eleventh Circuit. UGC has received a proposed consent order from the Minnesota Commissioner of Commerce (the MN Commissioner) which alleges that UGC violated the Real Estate Settlement Procedures Act and other state laws in connection with its practices with captive reinsurance companies owned by lenders. UGC is engaged in discussions with the MN Commissioner with respect to the terms of the proposed consent order. UGC cannot predict if or when a consent order may be entered into or, if entered into, what the terms of the final consent order will be. UGC has been subject to civil litigation relating to its placement of reinsurance with captives owned by lenders, and may be subject to additional litigation relating to the conduct of such business from time to time in the ordinary course. AIG is responding to subpoenas from the New York Department of Financial Services (NYDFS) and the Manhattan District Attorney’s Office (NYDA) relating to AIG’s formerly wholly owned subsidiaries, ALICO and Delaware American Life Insurance Company (DelAm), and other related business units, which were sold by AIG to MetLife in November 2010. The inquiries relate to whether ALICO, DelAm and their representatives conducted insurance business in New York over an extended period of time without a license, and whether certain representations by ALICO concerning its activities in New York were accurate. On or about March 31, 2014, a consent order between MetLife and the NYDFS, whereby MetLife agreed to pay $50 million, and a deferred prosecution agreement with the NYDA, whereby MetLife agreed to pay $10 million, were announced. AIG was not a party to either settlement. The consent order between the NYDFS and MetLife made certain findings, including that former AIG subsidiaries and affiliates conducted insurance business in New York without a license and that ALICO, while operating as a subsidiary of AIG, made misrepresentations and omissions concerning its insurance business activities in New York to NYDFS’s predecessor agency, the New York State Department of Insurance. The NYDFS also found in the consent order that AIG had violated the New York Insurance Law. On April 3, 2014, AIG filed a complaint against the NYDFS and NYDFS Superintendent Benjamin Lawsky in the Southern District of New York, seeking declaratory and injunctive relief on the basis that the NYDFS’s interpretation of the New York Insurance Law is unconstitutional under the Due Process and Commerce Clauses, as well as the First Amendment, of the U.S. Constitution. Defendants filed a motion to dismiss the federal complaint on May 16, 2014. On October 31, 2014, AIG and NYDFS entered into a Consent Order, whereby AIG agreed to pay $35 million and dismiss the federal lawsuit in exchange for NYDFS’s agreement to discontinue its inquiry. On May 12, 2010, a complaint was filed under seal in the Southern District of New York by an individual (Relator) seeking to assert claims on behalf of the United States against AIG under the False Claims Act. The Relator filed also under seal a first amended complaint on July 28, 2011. The complaint and the first amended complaint were initially filed and maintained under seal while the United States considered whether to intervene in the action, and on or about October 29, 2013, after the United States declined to intervene, the District Court ordered the complaint be unsealed 30 days after the entry of the order. The case, however, was not unsealed until May 9, 2014. The Relator thereafter served his second amended complaint on AIG on May 23, 2014. The second amended complaint alleges that AIG made false statements relevant to the valuation of two of its former subsidiaries, ALICO and American International Assurance Limited (AIA), in connection with agreements under which interests in those subsidiaries were transferred to the FRBNY in exchange for a $25 billion decrease in the amount owed to the FRBNY under the FRBNY Credit Facility. Specifically, it alleges that AIG falsely told the federal government that ALICO and AIA had the licenses they needed to conduct their business and were in compliance with applicable laws and regulations. AIG moved to dismiss the Relator’s second amended complaint on December 22, 2014. As previously disclosed in prior quarters, a state regulatory agency has requested additional information relating to the unwinding of a position on which we realized gains of $196 million for the year ended December 31, 2014. Legal Reserves We recorded increases in our legal reserve liability of $507 million and $391 million in the years ended December 31, 2014 and 2013, respectively. Other Contingencies Liability for unpaid losses and loss adjustment expenses Although we regularly review the adequacy of the established Liability for unpaid losses and loss adjustment expenses, there can be no assurance that our loss reserves will not develop adversely and have a material adverse effect on our results of operations. Estimation of ultimate net losses, loss expenses and loss reserves is a complex process, particularly for long-tail casualty lines of business, which include, but are not limited to, general liability, commercial automobile liability, environmental, workers’ compensation, excess casualty and crisis management coverages, insurance and risk management programs for large corporate customers and other customized structured insurance products, as well as excess and umbrella liability, directors and officers and products liability. Generally, actual historical loss development factors are used to project future loss development. However, there can be no assurance that future loss development patterns will be the same as in the past. Moreover, any deviation in loss cost trends or in loss development factors might not be identified for an extended period of time subsequent to the recording of the initial loss reserve estimates for any accident year. Reserves with respect to a number of years may be significantly affected by changes in loss cost trends or loss development factors that were relied upon in setting the reserves. These changes in loss cost trends or loss development factors could be attributable to changes in global economic conditions, changes in the legal, regulatory, judicial and social environment, changes in medical cost trends (for example, inflation, intensity and utilization of medical services), underlying policy pricing, terms and conditions, and claims handling practices. Commitments We occupy leased space in many locations under various long-term leases and have entered into various leases covering the long-term use of data processing equipment. The following table presents the future minimum lease payments under operating leases at December 31, 2014:
Rent expense was $471 million, $414 million and $445 million for the years ended December 31, 2014, 2013 and 2012, respectively. These amounts include $7 million for the year ended December 31, 2014 related to ILFC prior to the sale in 2014, and $15 million and $16 million attributable to businesses held for sale for the years ended December 31, 2013 and 2012, respectively. Other Commitments In the normal course of business, we enter into commitments to invest in limited partnerships, private equity funds and hedge funds and to purchase and develop real estate in the U.S. and abroad. These commitments totaled $2.5 billion at December 31, 2014. Guarantees Subsidiaries We have issued unconditional guarantees with respect to the prompt payment, when due, of all present and future payment obligations and liabilities of AIGFP and those arising from transactions entered into by AIG Markets. In connection with AIGFP’s business activities, AIGFP has issued, in a limited number of transactions, standby letters of credit or similar facilities to equity investors of structured leasing transactions in an amount equal to the termination value owing to the equity investor by the lessee in the event of a lessee default (the equity termination value) that are not otherwise satisfied by other arrangements. The total amount outstanding under these facilities at December 31, 2014 was $214 million. In those transactions, AIGFP has agreed to pay the equity termination value if the lessee fails to pay. The amount payable by AIGFP is, in certain cases, partially offset by amounts payable under other instruments typically equal to the present value of scheduled payments to be made by AIGFP. In the event that AIGFP is required to make a payment to the equity investor, the lessee is unconditionally obligated to reimburse AIGFP. To the extent that the equity investor is paid the equity termination value from the standby letter of credit and/or other sources, including payments by the lessee, AIGFP takes an assignment of the equity investor’s rights under the lease of the underlying property. Because the obligations of the lessee under the lease transactions are generally economically defeased, lessee bankruptcy is the most likely circumstance in which AIGFP would be required to pay without reimbursement. Asset Dispositions General We are subject to financial guarantees and indemnity arrangements in connection with the sales of businesses that occurred pursuant to our asset disposition plan. The various arrangements may be triggered by, among other things, declines in asset values, the occurrence of specified business contingencies, the realization of contingent liabilities, developments in litigation or breaches of representations, warranties or covenants made by us. These arrangements are typically subject to various time limitations, defined by the contract or by operation of law, such as statutes of limitation. In some cases, the maximum potential obligation is subject to contractual limitations, while in other cases such limitations are not specified or are not applicable. We are unable to develop a reasonable estimate of the maximum potential liability under certain of these arrangements. Overall, we believe that it is unlikely we will have to make any material payments related to the sales subject to these arrangements, and no material liabilities related to these arrangements have been recorded in the Consolidated Balance Sheets. See Note 4 herein for additional information on sales of businesses and asset dispositions. Other
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The entire disclosure for commitments, contingencies, and guarantees. No definition available.
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| EQUITY | 17. Equity Shares Outstanding The following table presents a rollforward of outstanding shares:
Dividends Payment of future dividends to our shareholders and repurchases of AIG Common Stock depends in part on the regulatory framework that we are currently subject to and that will ultimately be applicable to us, including as a nonbank systemically important financial institution under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd Frank) and a global systemically important insurer. In addition, dividends are payable on AIG Common Stock only when, as and if declared by our Board of Directors in its discretion, from funds legally available therefor. In considering whether to pay a dividend or purchase shares of AIG Common Stock, our Board of Directors considers such matters as the performance of our businesses, our consolidated financial condition, results of operations and liquidity, available capital, the existence of investment opportunities, contractual, legal and regulatory restrictions on the payment of dividends by our subsidiaries, rating agency considerations, including the potential effect on our debt ratings, and such other factors as our Board of Directors may deem relevant. On March 25, 2014, AIG paid a dividend of $0.125 per share on AIG Common Stock to shareholders of record on March 11, 2014. On June 24, 2014, AIG paid a dividend of $0.125 per share on AIG Common Stock to shareholders of record on June 10, 2014. On September 25, 2014, AIG paid a dividend of $0.125 per share on AIG Common Stock to shareholders of record on September 11, 2014. On December 18, 2014, AIG paid a dividend of $0.125 per share on AIG Common Stock to shareholders of record on December 4, 2014. Repurchase of AIG Common Stock in 2014 and 2013 On August 1, 2013, our Board of Directors authorized the repurchase of shares of AIG Common Stock, with an aggregate purchase price of up to $1.0 billion, from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise. For the year ended December 31, 2013, we repurchased approximately 12 million shares of AIG Common Stock for an aggregate purchase price of approximately $597 million pursuant to this authorization. On February 13, 2014, June 5, 2014 and October 31, 2014, our Board of Directors authorized increases to the August 1, 2013 repurchase authorization of AIG Common Stock of an aggregate of $4.5 billion. For the year ended December 31, 2014, we repurchased approximately 88 million shares of AIG Common Stock for an aggregate purchase price of approximately $4.9 billion. In the second, third and fourth quarters of 2014, we executed five accelerated stock repurchase (ASR) agreements with third-party financial institutions. The total number of shares of AIG Common Stock repurchased in the twelve-month period ended December 31, 2014, and the aggregate purchase price of those shares, each as set forth above, reflect our payment of approximately $3.1 billion in the aggregate under the ASR agreements and the receipt of approximately 53 million shares of AIG Common Stock in the aggregate, including the initial receipt of 70 percent of the total notional share equivalent, or approximately 9.2 million shares of AIG Common Stock, under an ASR agreement executed in December 2014. That ASR agreement settled in January 2015, at which time we received approximately 3.5 million additional shares of AIG Common Stock based on a formula specified by the terms of the ASR agreement. The timing of any future repurchases will depend on market conditions, our financial condition, results of operations, liquidity and other factor AIG Common Stock Offerings by the Department of the Treasury and AIG Purchases of AIG Common Stock in 2012 Through registered public offerings, the Department of the Treasury disposed of all of its ownership of AIG Common Stock as of December 31, 2012, from ownership of approximately 92 percent (1.7 billion shares) prior to the completion of the first registered public offering initiated by the Department of the Treasury as selling shareholder in May 2011. During 2012, the Department of the Treasury, as selling shareholder, completed registered public offerings of AIG Common Stock on March 13 (the March Offering), May 10 (the May Offering), August 8 (the August Offering), September 14 (the September Offering) and December 14 (the December Offering). We participated as a purchaser in the first four 2012 offerings. Each of these purchases was authorized by our Board of Directors. The following table presents certain information relating to these offerings:
* Shares purchased by us in each of the 2012 offerings were purchased pursuant to AIG Board of Directors authorization. Accumulated Other Comprehensive Income The following table presents a rollforward of Accumulated other comprehensive income:
* The adjustment to policyholder benefit reserves assumes that the unrealized appreciation on available for sale securities is actually realized and that the proceeds are reinvested at lower yields. The following table presents the other comprehensive income (loss) reclassification adjustments for the years ended December 31, 2014, 2013 and 2012:
The following table presents the effect of the reclassification of significant items out of Accumulated other comprehensive income on the respective line items in the Consolidated Statements of Income:
* These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 22 to the Consolidated Financial Statements. |
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The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NONCONTROLLING INTERESTS
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Dec. 31, 2014
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| NONCONTROLLING INTERESTS | 18. NONCONTROLLING INTERESTS The following table presents a rollforward of noncontrolling interests:
Redeemable noncontrolling interest Nonvoting, callable, junior preferred interests held by the Department of Treasury represented preferred interests in the AIA SPV and ALICO SPV. In connection with the execution of our orderly asset disposition plan, as well as the repayment of the FRBNY Credit Facility, we transferred two of our wholly-owned businesses, AIA and ALICO, to two newly created SPVs in exchange for all the common and preferred interests (the SPV Preferred Interests) of those SPVs. On December 1, 2009, AIG transferred the SPV Preferred Interests to the FRBNY in consideration for a $25 billion reduction of the outstanding loan balance and of the maximum amount of credit available under the FRBNY Credit Facility and amended the terms of the FRBNY Credit Facility. As part of the closing of the Recapitalization, the remaining SPV Preferred Interests, with an aggregate liquidation preference of approximately $20.3 billion at January 14, 2011, were purchased from the FRBNY by AIG and transferred to the Department of the Treasury as part of the consideration for the exchange of our Series F Preferred Stock. The common interests, which we retained, entitled us to 100 percent of the voting power of the SPVs. The voting power allowed us to elect the boards of managers of the SPVs, who oversaw the management and operation of the SPVs. Primarily due to the substantive participation rights of the SPV Preferred Interests, the SPVs were determined to be VIEs. As the primary beneficiary of the SPVs, we consolidated the SPVs. As a result of the closing of the Recapitalization on January 14, 2011, the SPV Preferred Interests held by the Department of the Treasury were no longer considered permanent equity on our Consolidated Balance Sheets, and were classified as redeemable noncontrolling interests. As part of the Recapitalization, we used approximately $6.1 billion of the cash proceeds from the sale of ALICO to pay down a portion of the liquidation preference of the SPV Preferred Interests. The liquidation preference of the SPV Preferred Interests was further reduced by approximately $12.4 billion using proceeds from the sale of AIG Star, AIG Edison, Nan Shan, and MetLife securities received in the sale of ALICO. During the first quarter of 2011, the remaining liquidation preference of the ALICO SPV Preferred Interests was paid in full. The SPV Preferred Interests were measured at fair value on their issuance date. The SPV Preferred Interests initially had a liquidation preference of $25 billion and had a preferred return of five percent per year compounded quarterly through September 22, 2013 and nine percent thereafter. The preferred return is reflected in Net income from continuing operations attributable to noncontrolling interests - Nonvoting, callable, junior and senior preferred interests in the Consolidated Statements of Income. The difference between the SPV Preferred Interests’ fair value and the initial liquidation preference was amortized and included in Net income from continuing operations attributable to noncontrolling interests - Nonvoting, callable, junior and senior preferred interests. During the first quarter of 2012, the liquidation preference of the AIA SPV Preferred Interests was paid down in full. Non-redeemable noncontrolling interests Non-redeemable noncontrolling interests include the equity interests of third-party shareholders in our consolidated subsidiaries and includes the preferred shareholders’ equity in outstanding preferred stock of ILFC, a wholly-owned subsidiary that was held for sale at December 31, 2013 and 2012. The preferred stock in ILFC consisted of 1,000 shares of market auction preferred stock (MAPS) in two series (Series A and B) of 500 shares each. Each of the MAPS shares had a liquidation value of $100,000 per share and was not convertible. Dividends on the MAPS were accounted for as a reduction of the noncontrolling interest. The dividend rate, other than the initial rate, for each dividend period for each series was reset approximately every seven weeks (49 days) on the basis of orders placed in an auction, provided such auctions were able to occur. The MAPS were transferred as part of the sale of ILFC. On May 14, 2014, we completed the sale of International Lease Finance Corporation (ILFC) to AerCap Ireland Limited, a wholly owned subsidiary of AerCap Holdings N.V. (AerCap). See Note 4 – Held-For-Sale Classification and Discontinued Operations for further discussion. For the years ended December 31, 2014 and 2013, the Noncontrolling interests balance declined by $237 million and $56 million, respectively, primarily caused by distributions to noncontrolling interest |
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The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EARNINGS PER SHARE (EPS)
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Dec. 31, 2014
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| EARNINGS PER SHARE (EPS) | 19. EARNINGS PER SHARE (EPS) The basic EPS computation is based on the weighted average number of common shares outstanding, adjusted to reflect all stock dividends and stock splits. The diluted EPS computation is based on those shares used in the basic EPS computation plus shares that would have been outstanding assuming issuance of common shares for all dilutive potential common shares outstanding and adjusted to reflect all stock dividends and stock splits. The following table presents the computation of basic and diluted EPS:
* Dilutive shares primarily result from share-based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of the recapitalization in January 2011. The number of shares excluded from diluted shares outstanding were 0.3 million, 38 million and 78 million for the years ended December 31, 2014, 2013 and 2012, respectively, because the effect of including those shares in the calculation would have been anti-dilutive. |
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STATUTORY FINANCIAL DATA AND RESTRICTIONS
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Dec. 31, 2014
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| STATUTORY FINANCIAL DATA AND RESTRICTIONS | 20. STATUTORY FINANCIAL DATA AND RESTRICTIONS The following table presents statutory net income (loss) and capital and surplus for our Non-Life Insurance Companies and our Life Insurance Companies in accordance with statutory accounting practices:
(a) Excludes discontinued operations and other divested businesses. Statutory capital and surplus and net income (loss) with respect to foreign operations are as of November 30. (b) Non-Life Insurance Companies did not recognize material statutory gains related to legal entity simplification (restructuring) in 2014. Non-Life Insurance Companies include approximately $8.0 billion of recognized statutory gains related to legal entity simplification (restructuring) in 2013. These recognized gains were largely offset by reductions in unrealized gains; therefore, there was no material impact to total surplus. (c) In aggregate, the 2013 Non-Life Insurance Companies and Life Insurance Companies statutory net income (loss) and statutory capital and surplus amounts increased by $1.1 billion and $557 million, respectively, compared to the amounts previously reported in our Annual Report on Form 10-K for the year ended December 31, 2013, due to finalization of statutory filings. Our insurance subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by domestic and foreign insurance regulatory authorities. The principal differences between statutory financial statements and financial statements prepared in accordance with U.S. GAAP for domestic companies are that statutory financial statements do not reflect DAC, some bond portfolios may be carried at amortized cost, investment impairments are determined in accordance with statutory accounting practices, assets and liabilities are presented net of reinsurance, policyholder liabilities are generally valued using more conservative assumptions and certain assets are non-admitted. For domestic insurance subsidiaries, aggregate minimum required statutory capital and surplus is based on the greater of the RBC level that would trigger regulatory action or minimum requirements per state insurance regulation. Capital and surplus requirements of our foreign subsidiaries differ from those prescribed in the U.S., and can vary significantly by jurisdiction. At both December 31, 2014 and 2013, all domestic and foreign insurance subsidiaries individually exceeded the minimum required statutory capital and surplus requirements and all domestic insurance subsidiaries individually exceeded RBC minimum required levels. At December 31, 2014 and 2013, the use of prescribed or permitted statutory accounting practices by our domestic and foreign insurance subsidiaries did not result in reported statutory surplus or risk-based capital that is significantly different from the statutory surplus or risk-based capital that would have been reported had NAIC statutory accounting practices or the prescribed regulatory accounting practices of their respective foreign regulatory authority been followed in all respects for domestic and foreign insurance entities. As described in Note 13, our domestic insurance subsidiaries domiciled in New York and Pennsylvania discount non-tabular workers’ compensation reserves based on the prescribed or approved regulations in each of those states. While these practices differ from applicable NAIC statutory accounting practices, such practices do not have a material impact on our statutory surplus and statutory net income (loss) or risk based capital. The NAIC Model Regulation “Valuation of Life Insurance Policies” (Regulation XXX) requires U.S. life insurers to establish additional statutory reserves for term life insurance policies with long-term premium guarantees and universal life policies with secondary guarantees (ULSGs). In addition, NAIC Actuarial Guideline 38 (Guideline AXXX) clarifies the application of Regulation XXX as to these guarantees, including certain ULSGs. Domestic insurance subsidiaries manage the capital impact of statutory reserve requirements under Regulation XXX and Guideline AXXX through intercompany reinsurance transactions. The affiliated life insurers providing reinsurance capacity for such transactions are fully licensed insurance companies and are not formed under captive insurance laws. Under one of these intercompany reinsurance arrangements, certain Regulation XXX and Guideline AXXX reserves related to new and in-force business are ceded to an affiliated U.S. life insurer, which is a licensed life insurer in the state of Missouri and an accredited reinsurer in the state of Texas. As an accredited reinsurer, this affiliated life insurer is not required to post any collateral such as letters of credit or assets in trust. Under the other intercompany reinsurance arrangement, certain Regulation XXX and Guideline AXXX reserves related to a closed block of in-force business are ceded to an affiliated off-shore life insurer, which is licensed as a class E insurer under Bermuda law. Bermuda law permits the off-shore life insurer to record an asset that effectively reduces the statutory reserves for the assumed reinsurance to the level that would be required under U.S. GAAP. Letters of credit are used to support the credit for reinsurance provided by the affiliated off-shore life insurer. The letters of credit are subject to reimbursement by AIG Parent in the event of a drawdown. See Note 8 for additional information regarding these letters of credit. Subsidiary Dividend Restrictions Payments of dividends to us by our insurance subsidiaries are subject to certain restrictions imposed by regulatory authorities. With respect to our domestic insurance subsidiaries, the payment of any dividend requires formal notice to the insurance department in which the particular insurance subsidiary is domiciled. For example, unless permitted by the Superintendent of Financial Services, property casualty companies domiciled in New York generally may not pay dividends to shareholders that, in any 12-month period, exceed the lesser of 10 percent of such company’s statutory policyholders’ surplus or 100 percent of its “adjusted net investment income,” for the previous year, as defined. Generally, less severe restrictions applicable to both property casualty and life insurance companies exist in most of the other states in which our insurance subsidiaries are domiciled. Under the laws of many states, an insurer may pay a dividend without prior approval of the insurance regulator when the amount of the dividend is below certain regulatory thresholds. Other foreign jurisdictions may restrict the ability of our foreign insurance subsidiaries to pay dividends. Various other regulatory restrictions also limit cash loans and advances to us by our subsidiaries. Largely as a result of these restrictions, approximately $45.8 billion of the statutory capital and surplus of our consolidated insurance subsidiaries were restricted from transfer to AIG Parent without prior approval of state insurance regulators at December 31, 2014. To our knowledge, no AIG insurance company is currently on any regulatory or similar “watch list” with regard to solvency. Parent Company Dividend Restrictions Our ability to pay dividends has not been subject to any contractual restrictions since the cancellation of our Series G Preferred Stock in May 2011. See Note 17 herein for additional information about our ability to pay dividends to our shareholders. |
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Entire disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority. No definition available.
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SHARE-BASED AND OTHER COMPENSATION PLANS
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| SHARE-BASED AND OTHER COMPENSATION PLANS | 21. SHARE-BASED AND OTHER COMPENSATION PLANS The following table presents our share-based compensation expense:
* For the years ended December 31, 2014, 2013 and 2012, $86 million, $315 million and $286 million of pre-tax compensation expense was attributed to unsettled liability-classified awards, the values of which are based on our share price at the reporting date. Our share price was $56.01, $51.05 and $35.30 at December 31, 2014, 2013 and 2012, respectively. In addition, we recognized $120 million and $101 million for immediately vested stock-settled awards issued to retirement eligible employees in 2014 and 2013, respectively. Employee Plans During 2014 and 2013, our employees were issued awards under the 2013 Long Term Incentive Plan, which is governed by the AIG 2013 Omnibus Incentive Plan (2013 Plan). The 2013 Plan replaced the AIG 2010 Stock Incentive Plan (2010 Plan) as of May 15, 2013, but does not affect the terms or conditions of any award issued under the 2010 Plan. The 2013 Plan is currently the only plan under which share-based awards can be made. As of December 31, 2014, the Starr International Company, Inc. Deferred Compensation Profit Participation Plans (the SICO Plans) are the only legacy plans for which share-settled awards remain unvested. Our share-settled awards are settled with previously acquired shares held in AIG’s treasury. Share awards made by SICO are settled by SICO. AIG 2013 Omnibus Incentive Plan The 2013 Plan was adopted at the 2013 Annual Meeting of Shareholders and provides for the grants of share-based awards to our employees and non-employee directors. The total number of shares that may be granted under the 2013 Plan (the reserve) is the sum of 1) 45 million shares of AIG Common Stock, plus 2) the number of authorized shares that remained available for issuance under the 2010 Plan when the 2013 Plan became effective, plus 3) the number of shares of AIG Common Stock relating to outstanding awards under the 2010 Plan at the time the 2013 Plan became effective that subsequently are forfeited, expired, terminated or otherwise lapse or are settled in cash. Each share-based unit granted under the 2013 Plan reduces the number of shares available for future grants by one share. However, shares with respect to awards that are forfeited, expired or settled for cash, and shares withheld for taxes on awards (other than options and stock appreciation rights (SARs) awards) are returned to the reserve. During 2014, performance share units (PSUs) and deferred stock units (DSUs) were granted under the 2013 Plan and 50,206,557 shares are available for future grants as of December 31, 2014. PSUs were issued for off-cycle grants, which are made from time to time during the year as sign-on awards to new hires or as a result of a change in employee status. AIG 2010 Stock Incentive Plan The 2010 Plan was adopted at the 2010 Annual Meeting of Shareholders. The total number of shares of AIG Common Stock that could be granted under the 2010 Plan was 60 million. During 2013 and 2012, we granted PSUs, DSUs, and restricted stock units (RSUs), under the 2010 Plan. Each PSU, DSU, and RSU, awarded reduced the number of shares available for future grants by one share. Subsequent to the adoption of the 2013 Plan in May 2013, no additional grants were made under the 2010 Plan. Share-settled Awards AIG 2013 Long Term Incentive Plan The 2013 Long Term Incentive Plan (2013 LTIP), adopted in March 2013, provides for the annual grant of PSUs to certain employees, including our senior executive officers and other highly compensated employees. Each recipient of an award is granted a number of PSUs (the target) that provides the opportunity to receive shares of AIG Common Stock based on AIG achieving specified performance goals at the end of a three-year performance period. These performance goals are pre-established by AIG’s Compensation and Management Resources Committee for each annual grant and may differ from year to year. The actual number of PSUs earned can vary from zero to 150 percent of the target depending on AIG’s performance relative to a specified peer group. Vesting occurs in three equal installments beginning on January 1 of the year immediately following the end of a performance period and January 1 of each of the next two years. Dividends do not accrue on unvested PSUs or underlying shares. Recipients must be employed at each vesting date to be entitled to share delivery, except upon the occurrence of an accelerated vesting event, such as an involuntary termination without cause, disability, or retirement during the vesting period. SICO Plans The SICO Plans provide that shares of AIG Common Stock currently held by SICO are set aside for the benefit of the participant and distributed upon retirement. The SICO Board of Directors currently may permit an early payout of shares under certain circumstances. Prior to payout, the participant is not entitled to vote, dispose of or receive dividends with respect to such shares, and shares are subject to forfeiture under certain conditions, including but not limited to the participant’s termination of employment with us prior to normal retirement age. A significant portion of the awards under the SICO Plans vest the year after the participant reaches age 65, provided that the participant remains employed by us through age 65. The portion of the awards for which early payout is available vests on the applicable payout date. SICO Plan awards issued in the form of restricted stock were valued based on the closing price of AIG’s Common Stock on the grant date. Although none of the costs of the various benefits provided under the SICO Plans have been paid by us, we have recorded compensation expense for the deferred compensation amounts payable to our employees by SICO, with an offsetting amount credited to Additional paid-in capital reflecting amounts deemed contributed by SICO. Non-Employee Plans Our non-employee directors, who serve on our Board of Directors, receive share-based compensation in the form of fully vested deferred stock units (DSUs) with delivery deferred until retirement from the Board. In 2014 and 2013, we granted to non-employee directors 28,477 and 25,735 DSUs, respectively, under the 2013 Plan and recognized expense of $1.5 million and $1.2 million, respectively; in 2012, we granted 19,434 DSUs, under the 2010 Plan and recognized $0.6 million of expense. Performance Share Unit Valuation The performance goals for long-term incentive awards granted in 2014 are AIG’s total shareholder return (TSR) and change in credit default swap (CDS) spread, weighted 75 percent and 25 percent, respectively, in each case relative to a specified peer group. The goals for the 2013 awards are AIG’s growth in tangible book value per share (TBVPS) (excluding accumulated other comprehensive income) and TSR, weighted 50 percent each, in each case relative to a specified peer group. The fair value of PSUs to be earned based on AIG’s achieving growth in TBVPS and change in CDS spreads was based on the closing price of AIG Common Stock on the grant date, discounted by the present value of estimated dividends to be paid during the respective vesting periods. The fair value of PSUs to be earned based on AIG’s TSR relative to a specified peer group was determined on the grant date using a Monte Carlo simulation. The following table presents the assumptions used to estimate the fair value of PSUs based on AIG’s TSR:
(a) The dividend yield is the projected annualized AIG dividend yield estimated by Bloomberg Professional service as of the valuation date. (b) The expected volatility is based on the implied volatilities of actively traded stock options from the valuation date through the end of the PSU performance period as estimated by Bloomberg Professional service. (c) The risk-free interest rate is the continuously compounded interest rate for the term between the valuation date and the end of the performance period that is assumed to be constant and equal to the interpolated value between the closest data points on the U.S. dollar LIBOR-swap curve as of the valuation date The following table summarizes outstanding share-settled awards(a):
(a) Excludes DSUs and options, which are discussed under the Non-Employee Plans and Stock Options sections, respectively. (b) Represents target number of PSUs granted, and does not reflect potential increases or decreases that could result from the final outcome of the performance goals to be determined after the applicable performance period ends. At December 31, 2014, the total unrecognized compensation cost (net of expected forfeitures) for the unvested PSUs and unvested restricted stock was $185 million and $19 million, respectively, and the weighted-average and expected period of years over which those costs are expected to be recognized are 1.28 years and 4 years for the PSUs, and 5.28 years and 25 years for the restricted stock, respectively. Stock Options Options granted under the AIG 2007 Stock Incentive Plan and the 1999 Stock Option Plan generally vested over four years (25 percent vesting per year) and expire 10 years from the date of grant. All outstanding options are vested and out of the money at December 31, 2014. There were no stock options granted since 2008. The aggregate intrinsic value for all unexercised options is zero. The following table provides a roll forward of stock option activity:
Cash-settled Awards Share-based cash-settled awards are recorded as liabilities until the final payout is made or the award is replaced with a stock-settled award. Compensation expense is recognized over the vesting periods, unless the award is fully vested on the grant date in which case the entire award value is immediately recognized as expense. Unlike stock-settled awards, which generally have a fixed grant-date fair value (unless the award is subsequently modified), the fair value of unsettled or unvested cash-settled awards is remeasured at the end of each reporting period based on the change in fair value of one share of AIG Common Stock. The liability and corresponding expense are adjusted accordingly until the award is settled. During the period we were subject to Troubled Asset Relief Program (TARP) restrictions, we issued various cash-settled share-based grants, including Stock Salary, TARP RSU awards, and other cash-settled RSU awards, to certain of our most highly compensated employees and executive officers in the form of restricted stock units that were either fully vested with payment deferred, or subject to specified service and performance conditions. After the repayment of our TARP obligations in December 2012, all performance conditions were satisfied; as a result, we no longer issue awards that are subject to TARP restrictions. Restricted Stock Units Stock Salary Awards Stock Salary was earned and accrued at the same time or times as the salary would otherwise be paid in cash and is generally settled in installments on the first, second or third anniversary of grant in accordance with the terms of an employee’s award. Stock Salary grants were generally issued in the form of fully vested RSUs and are settled in cash based on the value of AIG Common Stock on the applicable settlement date. During 2014, 2013 and 2012, we paid $89 million, $180 million and $111 million, respectively, to settle awards. For those awards that were vested and unsettled at the end of each year, we recognized charges of $7 million, $73 million and $173 million in compensation expense for the years ended December 31, 2014, 2013 and 2012, respectively, to reflect fluctuations in the value of AIG Common Stock. At December 31, 2014, the number of vested but unsettled RSUs totaled 742,317. TARP and Other RSUs TARP RSUs awarded require the achievement of objective performance metrics as a condition to entitlement. An award would have been settled in 25 percent installments in proportion to the repayment of our TARP obligations. As a result of the repayment of our TARP obligations in December 2012, outstanding awards vest and settle in two 50 percent installments on the second and third anniversary of the date of grant, along with other cash-settled RSUs granted and issued in March 2013 and 2012. Long Term Incentive Plans Certain employees were provided the opportunity to receive additional compensation in the form of cash and cash-settled SARs under the 2011 LTIP or 100 percent cash for the 2012 LTIP if certain performance measures were met. The ultimate value of these awards was contingent on AIG achieving performance measures over a two-year performance period and such value could range from zero to twice the target amount. Subsequent to the performance period, the earned awards were subject to an additional time-vesting period. This results in a graded vesting schedule for the cash portion of up to two years, while the SARs portion cliff-vests two years after the end of performance period. The cash portion of the awards expensed in 2014, 2013 and 2012 totaled approximately $57 million, $249 million, and $189 million, respectively. The following table presents a roll forward of SARs and cash-settled RSUs (excluding stock salary) as well as the related expenses:
(a) Total unrecognized compensation and the weighted-average period for which it will be recognized is $3 million and 0.55 year, respectively. (b) Total unrecognized compensation and the weighted-average period for which it will be recognized is $13 million and 0.61 year, respectively. (c) Also includes SARs for which vesting was accelerated for employees who became retirement eligible or were deceased. (d) The ending balance represents awards granted under the 2011 LTIP that vested on January 1, 2015 and were automatically exercised. The value of a SAR as of December 31, 2014 was determined based on the excess of the fair value (as defined) of one share of AIG Common Stock over the strike price of $37.40; the fair value was $55.29 based on the average of the closing sale prices on each trading day during the month of December 2014 in accordance with the plan provisions. No SARs are outstanding after January 1, 2015. |
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The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| EMPLOYEE BENEFITS | 22. EMPLOYEE BENEFITS Pension Plans We offer various defined benefit plans to eligible employees. The U.S. AIG Retirement Plan (the qualified plan) is a noncontributory defined benefit plan, that is subject to the provisions of ERISA. U.S. salaried employees who are employed by a participating company and who have completed 12 months of continuous service are eligible to participate in the plan. Effective April 1, 2012, the qualified plan was converted to a cash balance formula comprised of pay credits based on six percent of a plan participant’s annual compensation (subject to IRS limitations) and annual interest credits. In addition, employees can take their vested benefits when they leave AIG as a lump sum or an annuity option after completing at least three years of service. However, employees satisfying certain age and service requirements (i.e. grandfathered employees) remain covered under the old plan formula, which is based upon a percentage of final average compensation multiplied by years of credited service, up to 44 years. Grandfathered employees will receive the higher of the benefits under the cash balance or final average pay formula at retirement. Non-U.S. defined benefit plans are generally either based on the employee’s years of credited service and compensation in the years preceding retirement or on points accumulated based on the employee’s job grade and other factors during each year of service. In the U.S. we also sponsor several non-qualified unfunded defined benefit plans for certain employees, including key executives, designed to supplement pension benefits provided by the qualified plan. These include the AIG Non-Qualified Retirement Income Plan (AIG NQRIP), which provides a benefit equal to the reduction in benefits under the qualified plan as a result of federal tax limitations on compensation and benefits payable, and the Supplemental Executive Retirement Plan (SERP), which provides additional retirement benefits to designated executives. Under the SERP, an annual benefit accrues at a percentage of final average pay multiplied by each year of credited service, not greater than 60 percent of final average pay, reduced by any benefits from the current and any predecessor retirement plans (including the AIG NQRIP), Social Security, and any benefits accrued under a Company sponsored foreign deferred compensation plan. Postretirement Plans We also provide postretirement medical care and life insurance benefits in the U.S. and in certain non-U.S. countries. Eligibility in the various plans is generally based upon completion of a specified period of eligible service and attaining a specified age. Overseas, benefits vary by geographic location. U.S. postretirement medical and life insurance benefits are based upon the employee attaining the age of 55 and having a minimum of ten years of service. Eligible employees who have medical coverage can enroll in retiree medical upon termination of employment. Medical benefits are contributory, while the life insurance benefits are generally non-contributory. Retiree medical contributions vary from none for pre-1989 retirees to actual premium payments reduced by certain subsidies for post-1992 retirees. These contributions are subject to adjustment annually. Other cost sharing features of the medical plan include deductibles, coinsurance and Medicare coordination. Effective April 1, 2012, the retiree medical employer subsidy for the AIG Postretirement plan was eliminated for employees who were not grandfathered. Additionally, new employees hired after December 31, 2012 are not eligible for retiree life insurance. The following table presents the funded status of the plans reconciled to the amount reported in the Consolidated Balance Sheets. The measurement date for most of the non-U.S. defined benefit pension and postretirement plans is November 30, consistent with the fiscal year end of the sponsoring companies. For all other plans, measurement occurs as of December 31.
(a) We do not currently fund postretirement benefits. (b) Includes non-qualified unfunded plans of which the aggregate projected benefit obligation was $325 million and $276 million for the U.S. and $295 million and $265 million for the non-U.S. at December 31, 2014 and 2013, respectively. The following table presents the accumulated benefit obligations for U.S. and non-U.S. pension benefit plans:
Defined benefit plan obligations in which the projected benefit obligation was in excess of the related plan assets and the accumulated benefit obligation was in excess of the related plan assets were as follows:
The following table presents the components of net periodic benefit cost with respect to pensions and other postretirement benefits:
The estimated net loss and prior service credit that will be amortized from Accumulated other comprehensive income into net periodic benefit cost over the next fiscal year are $141 million and $35 million, respectively, for our combined defined benefit pension plans. For the defined benefit postretirement plans, the estimated amortization from Accumulated other comprehensive income for net loss and prior service credit that will be amortized into net periodic benefit cost over the next fiscal year is a $10 million credit in the aggregate. The annual pension expense in 2015 for the AIG U.S. and non-U.S. defined benefit pension plans is expected to be approximately $289 million. A 100 basis point increase in the discount rate or expected long-term rate of return would decrease the 2015 expense by approximately $95 million and $47 million, respectively, with all other items remaining the same. Conversely, a 100 basis point decrease in the discount rate or expected long-term rate of return would increase the 2015 expense by approximately $104 million and $47 million, respectively, with all other items remaining the same. Assumptions The following table summarizes the weighted average assumptions used to determine the benefit obligations:
* The non-U.S. plans reflect those assumptions that were most appropriate for the local economic environments of each of the subsidiaries providing such benefits. The following table summarizes assumed health care cost trend rates for the U.S. plans:
A one percent point change in the assumed healthcare cost trend rate would have the following effect on our postretirement benefit obligations:
Our postretirement plans provide benefits primarily in the form of defined employer contributions rather than defined employer benefits. Changes in the assumed healthcare cost trend rate have a minimal impact for U.S. plans because for post-1992 retirees, benefits are fixed dollar amounts based on service at retirement. Our non-U.S. postretirement plans are not subject to caps. The following table presents the weighted average assumptions used to determine the net periodic benefit costs:
* The non-U.S. plans reflect those assumptions that were most appropriate for the local economic environments of the subsidiaries providing such benefits. Discount Rate Methodology The projected benefit cash flows under the U.S. AIG Retirement plan were discounted using the spot rates derived from the Mercer Pension Discount Yield Curve at December 31, 2014 and 2013, which resulted in a single discount rate that would produce the same liability at the respective measurement dates. The discount rates were 3.95 percent at December 31, 2014 and 4.84 percent at December 31, 2013. The methodology was consistently applied for the respective years in determining the discount rates for the other U.S. plans. In general, the discount rates for non-U.S. pension plans were developed based on the duration of liabilities on a plan by plan basis and were selected by reference to high quality corporate bonds in developed markets or local government bonds where developed markets are not as robust or are nonexistent. The projected benefit obligation for Japan represents approximately 47 percent and 51 percent of the total projected benefit obligations for our non-U.S. pension plans at December 31, 2014 and 2013, respectively. The weighted average discount rate of 1.22 percent and 1.39 percent at December 31, 2014 and 2013 respectively for Japan was selected by reference to the AA rated corporate bonds reported by Rating and Investment Information, Inc. based on the duration of the plans’ liabilities. Plan Assets The investment strategy with respect to assets relating to our U.S. and non-U.S. pension plans is designed to achieve investment returns that will (a) provide for the benefit obligations of the plans over the long term (b) limit the risk of short-term funding shortfalls and (c) maintain liquidity sufficient to address cash needs. Accordingly, the asset allocation strategy is designed to maximize the investment rate of return while managing various risk factors, including but not limited to, volatility relative to the benefit obligations, diversification and concentration, and the risk and rewards profile applicable to each asset class. The assessment of the expected rate of return for all our plans is long-term and thus is not expected to change annually; however, significant changes in investment strategy or economic conditions may warrant such a change. There were no shares of AIG Common Stock included in the U.S. and non-U.S. pension plans assets at December 31, 2014 or 2013. U.S. Pension Plan The long-term strategic asset allocation is reviewed and revised approximately every three years. The plan’s assets are monitored by the investment committee and actively managed by the investment managers, which includes allocating the plan’s assets among approved asset classes within pre-approved ranges permitted by the strategic allocation. The following table presents the asset allocation percentage by major asset class for the U.S. qualified plan and the target allocation:
The expected long-term rate of return for the plan was 7.25 percent for both 2014 and 2013. The expected rate of return is an aggregation of expected returns within each asset class category and incorporates the current and target asset allocations. The combination of the expected asset return and any contributions made by us are expected to maintain the plan’s ability to meet all required benefit obligations. The expected asset return for each asset class was developed based on an approach that considers key fundamental drivers of the asset class returns in addition to historical returns, current market conditions, asset volatility and the expectations for future market returns. Non-U.S. Pension Plans The assets of the non-U.S. pension plans are held in various trusts in multiple countries and are invested primarily in equities and fixed maturity securities to maximize the long-term return on assets for a given level of risk. The following table presents the asset allocation percentage by major asset class for Non-U.S. pension plans and the target allocation:
The assets of AIG’s Japan pension plans represent approximately 55 percent and 60 percent of total non-U.S. assets at December 31, 2014 and 2013 respectively. The expected long term rate of return was 1.24 percent and 1.15 percent, for 2014 and 2013, respectively, and is evaluated by the Japanese Pension Investment Committee on a quarterly and annual basis along with various investment managers, and is revised to achieve the optimal allocation to meet targeted funding levels if necessary. In addition, the funding policy is revised in accordance with local regulation every five years. The expected weighted average long-term rate of return for all our non-U.S. pension plans was 2.93 percent and 2.60 percent for the years ended December 31, 2014 and 2013, respectively. It is an aggregation of expected returns within each asset class that was generally developed based on the building block approach that considers historical returns, current market conditions, asset volatility and the expectations for future market returns. Assets Measured at Fair Value The following table presents information about our plan assets and indicates the level of the fair value measurement based on the observability of the inputs used. The inputs and methodology used in determining the fair value of these assets are consistent with those used to measure our assets as discussed in Note 5 herein.
(a) Includes index funds that primarily track several indices including S&P 500 and S&P Small Cap 600 as well as other actively managed accounts composed of investments in large cap companies. (b) Includes investments in companies in emerging and developed markets. (c) Represents investments in U.S. and non-U.S. government issued bonds, U.S. government agency or sponsored agency bonds, and investment grade corporate bonds. (d) Consists primarily of investments in securities or debt obligations that have a rating below investment grade. (e) Comprised primarily of investments in U.S. government agency or U.S. government sponsored agency bonds. (f) Includes funds composed of macro, event driven, long/short equity, and controlled risk hedge fund strategies and a separately managed controlled risk strategy. (g) Includes funds that are diverse by geography, investment strategy, sector and vintage year. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. Based on our investment strategy, we had no significant concentrations of risks at December 31, 2014. The U.S. pension plan holds a group annuity contract with U.S. Life, one of our subsidiaries, which totaled $26 million and $27 million at December 31, 2014 and 2013, respectively. Changes in Level 3 fair value measurements The following table presents changes in our U.S. and non-U.S. Level 3 plan assets measured at fair value:
Transfers of Level 1 and Level 2 Assets Our policy is to record transfers of assets between Level 1 and Level 2 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. Assets are transferred out of Level 1 when they are no longer transacted with sufficient frequency and volume in an active market. Conversely, assets are transferred from Level 2 to Level 1 when transaction volume and frequency are indicative of an active market. We had no transfers between Level 1 and Level 2 during the years ended December 31, 2014 and 2013. Transfers of Level 3 Assets We record transfers of assets into or out of Level 3 at their fair values as of the end of each reporting period, consistent with the date of the determination of fair value. During the year ended December 31, 2014, we transferred certain investments in hedge funds into Level 3 as a result of limited market activity due to fund-imposed redemption restrictions. Expected Cash Flows Funding for the U.S. pension plan ranges from the minimum amount required by ERISA to the maximum amount that would be deductible for U.S. tax purposes. Contributed amounts in excess of the minimum amounts are deemed voluntary. Amounts in excess of the maximum amount would be subject to an excise tax and may not be deductible under the Internal Revenue Code. There are no minimum required cash contributions in 2015 for the AIG Retirement Plan. SERP, AIG NQRIP, and postretirement plan payments are deductible when paid to participants. Our annual pension contribution in 2015 is expected to be approximately $173 million for our U.S. and non-U.S. plans, including a $100 million contribution to the AIG Retirement Plan. These estimates are subject to change, since contribution decisions are affected by various factors including our liquidity, market performance and management’s discretion. The expected future benefit payments, net of participants’ contributions, with respect to the defined benefit pension plans and other postretirement benefit plans, are as follows:
Defined Contribution Plans We sponsor several defined contribution plans for U.S. employees that provide for pre-tax salary reduction contributions by employees. The most significant plan is the AIG Incentive Savings Plan, for which the Company’s matching contribution is 100 percent of the first six percent of a participant’s contributions, subject to the IRS-imposed limitations. Our pre-tax expenses associated with these plans were $156 million, $155 million and $133 million in 2014, 2013 and 2012 respectively. |
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OWNERSHIP
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| OWNERSHIP | 23. OWNERSHIP A Schedule 13G/A filed February 17, 2015 reports aggregate ownership of 75,755,659 shares, or approximately 5.3 percent (based on the AIG Common Stock outstanding, as adjusted to reflect the warrants owned), of AIG Common Stock and warrants (51,283,896 shares plus 24,471,763 warrants) as of December 31, 2014, including securities beneficially owned, in the aggregate, by Bruce R. Berkowitz and various investment vehicles managed by Fairholme Capital Management, L.L.C. A Schedule 13G/A filed on February 9, 2015 reports aggregate ownership of 87,211,630 shares, or approximately 6.2 percent (based on the AIG Common Stock outstanding) of AIG Common Stock as of December 31, 2014, by various subsidiaries of Blackrock, Inc. A Schedule 13G filed on February 11, 2015 reports aggregate ownership of 71,820,823 shares, or approximately 5.1 percent (based on the AIG Common Stock outstanding) of AIG Common Stock as of December 31, 2014, by The Vanguard Group, Inc. and various subsidiaries thereof. The calculation of ownership interest for purposes of the AIG Tax Asset Protection Plan and Article 13 of our Restated Certificate of Incorporation is different than beneficial ownership for Schedule 13G. |
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The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INCOME TAXES
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| INCOME TAXES | 24. INCOME TAXES The following table presents income (loss) from continuing operations before income tax expense (benefit) by U.S. and foreign location in which such pre-tax income (loss) was earned or incurred.
The following table presents the income tax expense (benefit) attributable to pre-tax income (loss) from continuing operations:
Our actual income tax (benefit) expense differs from the statutory U.S. federal amount computed by applying the federal income tax rate due to the following:
For the year ended December 31, 2014, the effective tax rate on income from continuing operations was 27.9 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits of $236 million associated with tax exempt interest income, $209 million related to a decrease in the U.S. Life Insurance Companies’ capital loss carryforward valuation allowance, $182 million of income excludible from gross income related to the global resolution of certain residential mortgage-related disputes and $68 million associated with effect of foreign operations. For the year ended December 31, 2013, the effective tax rate on income from continuing operations was 3.8 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to tax benefits of $2.8 billion related to a decrease in the U.S. Life Insurance Companies’ capital loss carryforward valuation allowance, $396 million related to a decrease in certain other valuation allowances associated with foreign jurisdictions and $298 million associated with tax exempt interest income. These items were partially offset by charges of $632 million related to uncertain tax positions. For the year ended December 31, 2012, the effective tax rate on income from continuing operations was (27.9) percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 35 percent primarily due to decreases in the U.S. Life Insurance Companies’ capital loss carryforward valuation allowance of $1.9 billion related to the actual and projected gains from the U.S. Life Insurance Companies’ available-for-sale securities, and tax effects associated with tax exempt interest income of $302 million. These items were partially offset by changes in uncertain tax positions of $446 million The following table presents the components of the net deferred tax assets (liabilities):
The following table presents our U.S. consolidated income tax group tax losses and credits carryforwards as of December 31, 2014 on a tax return basis.
Assessment of Deferred Tax Asset Valuation Allowance The evaluation of the recoverability of the deferred tax asset and the need for a valuation allowance requires us to weigh all positive and negative evidence to reach a conclusion that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The weight given to the evidence is commensurate with the extent to which it can be objectively verified. The more negative evidence that exists, the more positive evidence is necessary and the more difficult it is to support a conclusion that a valuation allowance is not needed. Our framework for assessing the recoverability of deferred tax assets requires us to consider all available evidence, including:
As a result of sales in the ordinary course of business to manage the investment portfolio and other transactions during the year ended December 31, 2014, remaining U.S. Life Insurance Companies capital loss carryforwards were realized prior to their expiration. This, together with the changes in market conditions, resulted in a conclusion that deferred tax assets related to unrealized tax losses in the U.S. Life Insurance Companies’ available for sale portfolio will more-likely-than-not be realized. Accordingly, the related deferred tax asset valuation allowance was released. Therefore, for the year ended December 31, 2014, we recognized a decrease of $1.8 billion in the capital loss carryforward valuation allowance associated with the U.S. Life Insurance Companies, of which $209 million was allocated to income from continuing operations and $1.6 billion was allocated to other comprehensive income. Included in the $1.8 billion was a decrease in the capital loss carryforward valuation allowance of $314 million related to a portion of the U.S. Life Insurance Companies’ capital loss carryforward previously treated as expired that was restored and utilized in 2014. During the year ended December 31, 2014, we also recognized a $325 million decrease in our deferred tax asset valuation allowance associated with certain state, local and foreign jurisdictions, primarily attributable to a corresponding reduction in state and local deferred tax assets. The following table presents the net deferred tax assets (liabilities) at December 31, 2014 and 2013 on a U.S. GAAP basis:
Deferred Tax Asset Valuation Allowance of U.S. Consolidated Income Tax Group At December 31, 2014, and 2013, our U.S. consolidated income tax group had net deferred tax assets after valuation allowance of $18.9 billion and $21.3 billion, respectively. At December 31, 2014, and 2013, our U.S. consolidated income tax group had valuation allowances of $129 million and $1.7 billion, respectively. Deferred Tax Liability — Foreign, State and Local At December 31, 2014 and 2013, we had net deferred tax liabilities of $159 million and $116 million, respectively, related to foreign subsidiaries, state and local tax jurisdictions, and certain domestic subsidiaries that file separate tax returns. At December 31, 2014 and 2013, we had deferred tax asset valuation allowances of $1.6 billion and $2.0 billion, respectively, related to foreign subsidiaries, state and local tax jurisdictions, and certain domestic subsidiaries that file separate tax returns. We maintained these valuation allowances following our conclusion that we could not demonstrate that it was more likely than not that the related deferred tax assets will be realized. This was primarily due to factors such as cumulative losses in recent years and the inability to demonstrate profits within the specific jurisdictions over the relevant carryforward periods. Tax Examinations and Litigation We file a consolidated U.S. federal income tax return with our eligible U.S. subsidiaries. Several U.S. subsidiaries included in the consolidated financial statements previously filed separate U.S. federal income tax returns and were not part of our U.S. consolidated income tax group. Income earned by subsidiaries operating outside the U.S. is taxed, and income tax expense is recorded, based on applicable U.S. and foreign law. The statute of limitations for all tax years prior to 2000 has expired for our consolidated federal income tax return. We are currently under examination for the tax years 2000 through 2006. On March 20, 2008, we received a Statutory Notice of Deficiency (Notice) from the IRS for years 1997 to 1999. The Notice asserted that we owe additional taxes and penalties for these years primarily due to the disallowance of foreign tax credits associated with cross-border financing transactions. The transactions that are the subject of the Notice extend beyond the period covered by the Notice, and the IRS is challenging the later periods. It is also possible that the IRS will consider other transactions to be similar to these transactions. We have paid the assessed tax plus interest and penalties for 1997 to 1999. On February 26, 2009, we filed a complaint in the United States District Court for the Southern District of New York seeking a refund of approximately $306 million in taxes, interest and penalties paid with respect to its 1997 taxable year. We allege that the IRS improperly disallowed foreign tax credits and that our taxable income should be reduced as a result of the 2005 restatement of our consolidated financial statements. We also filed an administrative refund claim on September 9, 2010 for our 1998 and 1999 tax years. On March 29, 2011, the U.S. District Court for the Southern District of New York, ruled on a motion for partial summary judgment that we filed on July 30, 2010 related to the disallowance of foreign tax credits associated with cross-border financing transactions. The court denied our motion with leave to renew. On August 1, 2012, we filed a motion for partial summary judgment related to the disallowance of foreign tax credits associated with cross border financing transactions. On March 29, 2013, the U.S District Court for the Southern District of New York denied our motion for partial summary judgment related to the disallowance of foreign tax credits associated with cross border financing transactions. On March 17, 2014, the U.S. Court of Appeals for the Second Circuit (the Second Circuit) granted our petition for an immediate appeal of the partial summary judgment decision. Accordingly, we are presenting our position to the Second Circuit. We will vigorously defend our position and continue to believe that we have adequate reserves for any liability that could result from the IRS actions. We continue to monitor legal and other developments in this area and evaluate the effect, if any, on our position, including recent decisions adverse to other taxpayers. Accounting For Uncertainty in Income Taxes The following table presents a reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits:
At December 31, 2014, 2013 and 2012, our unrecognized tax benefits, excluding interest and penalties, were $4.4 billion, $4.3 billion and $4.4 billion, respectively. At December 31, 2014, 2013 and 2012, our unrecognized tax benefits related to tax positions that, if recognized, would not affect the effective tax rate because they relate to such factors as the timing, rather than the permissibility, of the deduction were $0.3 billion, $0.1 billion and $0.2 billion, respectively. Accordingly, at December 31, 2014, 2013 and 2012, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $4.1 billion, $4.2 billion and $4.2 billion, respectively. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At both December 31, 2014 and 2013, we had accrued liabilities of $1.1 billion for the payment of interest (net of the federal benefit) and penalties. For the years ended December 31, 2014, 2013 and 2012, we accrued expense (benefits) of $21 million, $142 million and $192 million, respectively, for the payment of interest (net of the federal benefit) and penalties. We regularly evaluate adjustments proposed by taxing authorities. At December 31, 2014, such proposed adjustments would not have resulted in a material change to our consolidated financial condition, although it is possible that the effect could be material to our consolidated results of operations for an individual reporting period. Although it is reasonably possible that a change in the balance of unrecognized tax benefits may occur within the next 12 months, based on the information currently available, we do not expect any change to be material to our consolidated financial condition. Listed below are the tax years that remain subject to examination by major tax jurisdictions:
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- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | 25. QUARTERLY FINANCIAL INFORMATION (UNAUDITED) Consolidated Statements of Income (Loss)
* Net income attributable to AIG for the three-month period ended December 31, 2013 includes $327 million of net charges primarily related to income taxes to correct prior 2013 quarters presented. Such amounts are not material to any period presented. The following tables present amounts previously reported and adjusted amounts presented in the above table. See Note 1 herein for a description of the changes.
* The changes in the previously and currently reported total revenues did not have an impact on Net income or Earnings (loss) per common share attributable to AIG common shareholders. |
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- Definition
The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT | 26. INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT The following condensed consolidating financial statements reflect the results of AIG Life Holdings, Inc. (AIGLH), a holding company and a wholly owned subsidiary of AIG. AIG provides a full and unconditional guarantee of all outstanding debt of AIGLH. Condensed Consolidating Balance Sheets
(a) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment. (b) Eliminated in consolidation. (c) For December 31, 2014 and 2013, includes intercompany tax payable of $0.3 billion and $1.4 billion, respectively, and intercompany derivative liabilities of $275 million and $249 million, respectively, for American International Group, Inc. (As Guarantor) and intercompany tax receivable of $3 million and $98 million, respectively, for AIGLH. Condensed Consolidating Statements of Income (Loss)
* Eliminated in consolidation. Condensed Consolidating Statements of Comprehensive Income (Loss)
Condensed Consolidating Statements of Cash Flows
* Supplementary Disclosure of Condensed Consolidating Cash Flow Information
* The Other Subsidiaries and Reclassifications and Eliminations amounts were disclosed together in prior periods. The new presentation had no impact on the Consolidated AIG amounts. American International Group, Inc. (As Guarantor) supplementary disclosure of non-cash activities:
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The entire disclosure for condensed financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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12 Months Ended |
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Dec. 31, 2014
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| SUBSEQUENT EVENTS | |
| SUBSEQUENT EVENTS | 27. Subsequent events Debt Offering On January 15, 2015, we issued $1.2 billion aggregate principal amount of 3.875% Notes due 2035 and $800 million aggregate principal amount of 4.375% Notes due 2055. Dividends Declared and Share Repurchase Authorization On February 12, 2015, our Board of Directors declared a cash dividend on AIG Common Stock of $0.125 per share, payable on March 26, 2015 to shareholders of record on March 12, 2015. On February 12, 2015, our Board of Directors authorized an additional increase to the August 1, 2013 repurchase authorization of AIG Common Stock of $2.5 billion, resulting in an aggregate remaining authorization on such date of approximately $2.5 billion. |
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| X | ||||||||||
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Schedule I Summary of Investments - Other than Investments in Related Parties
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| Schedule I Summary of Investments - Other than Investments in Related Parties | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule I Summary of Investments - Other than Investments in Related Parties | Summary of Investments — Other than Investments in Related Parties
* Original cost of equity securities and fixed maturities is reduced by other-than-temporary impairment charges, and, as to fixed maturity securities, reduced by repayments and adjusted for amortization of premiums or accretion of discounts. |
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Schedule II Condensed Financial Information of Registrant - Parent Company Only
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| Schedule II Condensed Financial Information of Registrant - Parent Company Only | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule II Condensed Financial Information of Registrant - Parent Company Only | Condensed Financial Information of Registrant Balance Sheets — Parent Company Only
* Eliminated in consolidation. See Accompanying Notes to Condensed Financial Information of Registrant.
Notes to Condensed Financial Information of Registrant American International Group, Inc.’s (the Registrant) investments in consolidated subsidiaries are stated at cost plus equity in undistributed income of consolidated subsidiaries. The accompanying condensed financial statements of the Registrant should be read in conjunction with the consolidated financial statements and notes thereto of American International Group, Inc. and subsidiaries included in the Registrant’s 2014 Annual Report on Form 10-K for the year ended December 31, 2014 (2014 Annual Report on Form 10-K) filed with the Securities and Exchange Commission on February 20, 2015. The Registrant includes in its Statement of Income dividends from its subsidiaries and equity in undistributed income (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries. Certain prior period amounts have been reclassified to conform to the current period presentation. The five-year debt maturity schedule is incorporated by reference from Note 15 to Consolidated Financial Statements. The Registrant files a consolidated federal income tax return with certain subsidiaries and acts as an agent for the consolidated tax group when making payments to the Internal Revenue Service. The Registrant and its subsidiaries have adopted, pursuant to a written agreement, a method of allocating consolidated Federal income taxes. Amounts allocated to the subsidiaries under the written agreement are included in Due from affiliates in the accompanying Condensed Balance Sheets. Income taxes in the accompanying Condensed Balance Sheets are composed of the Registrant’s current and deferred tax assets, the consolidated group’s current income tax receivable, deferred taxes related to tax attribute carryforwards of AIG’s U.S. consolidated income tax group and a valuation allowance to reduce the consolidated deferred tax asset to an amount more likely than not to be realized. See Note 24 to the Consolidated Financial Statements for additional information. The consolidated U.S. deferred tax asset for net operating loss, capital loss and tax credit carryforwards and valuation allowance are recorded by the Parent Company, which files the consolidated U.S. Federal income tax return, and are not allocated to its subsidiaries. Generally, as, and if, the consolidated net operating losses and other tax attribute carryforwards are utilized, the intercompany tax balance will be settled with the subsidiaries. |
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Schedule III Supplementary Insurance Information
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| Schedule III Supplementary Insurance Information | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule III Supplementary Insurance Information | Supplementary Insurance Information
(a) Includes consolidation and elimination entries. (b) Balances reflect the segment changes discussed in Note 3 – Segment Information to the Consolidated Financial Statements. |
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| X | ||||||||||
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- Definition
The entire disclosure for required supplementary insurance information giving segment detail in support of various balance sheet and income statement captions. The balance sheet information generally is presented as of the date of each audited balance sheet filed, and the income statement information generally is presented for each period for which an audited income statement is required to be filed. Supplementary insurance information table includes segment name; deferred policy acquisition costs; future policy benefits, losses, claims and loss expenses; unearned premiums; other policy claims and benefits payable; premium revenue; net investment income; benefits, claims, losses and settlement expenses; amortization of deferred policy acquisition costs; other operating expenses; and premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Schedule IV Reinsurance
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Dec. 31, 2014
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| Schedule IV Reinsurance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule IV Reinsurance | Reinsurance
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for the supplemental schedule of reinsurance information. Reinsurance schedule includes, but is not limited to, the type of insurance, gross amount of premiums, premiums ceded to other entities, premiums assumed from other entities, net amount of premium revenue, and the percentage of the premiums assumed to net premium revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Schedule V Valuation and Qualifying Accounts
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule V Valuation and Qualifying Accounts | Valuation and Qualifying Accounts
* Includes recoveries of amounts previously charged off and reclassifications to/from other accounts. |
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- Definition
The entire disclosure for any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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BASIS OF PRESENTATION (Policies)
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12 Months Ended |
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Dec. 31, 2014
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| BASIS OF PRESENTATION | |
| Sale of ILFC | Sale of ILFC On May 14, 2014, we completed the sale of 100 percent of the common stock of International Lease Finance Corporation (ILFC) to AerCap Ireland Limited, a wholly owned subsidiary of AerCap Holdings N.V. (AerCap), in exchange for total consideration of approximately $7.6 billion, including cash and 97.6 million newly issued AerCap common shares (the AerCap Transaction). The total value of the consideration was based in part on AerCap’s closing price per share of $47.01 on May 13, 2014. ILFC’s results of operations are reflected in Aircraft leasing revenue and Aircraft leasing expenses in the Consolidated Statements of Income through the date of the completion of the sale. ILFC’s assets and liabilities were classified as held-for-sale at December 31, 2013 in the Consolidated Balance Sheets. See Note 4 herein for further discussion. |
| Use of Estimates | Use of Estimates The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involve a significant degree of judgment. Accounting policies that we believe are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of:
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 conditions, results of operations and cash flows could be materially affected. |
| Presentation and Segment Changes | Presentation Changes Policy fees related to features accounted for as embedded derivatives in variable annuity products, including guaranteed minimum withdrawal benefits and guaranteed minimum account value benefits, are included in the fair value measurement of embedded derivatives. Effective December 31, 2014, we reclassified fees related to these embedded derivatives to Net realized capital gains, with no effect to the fair value measurement of the embedded derivatives, Income from continuing operations, Net income attributable to AIG, or Shareholders’ equity. Accordingly, a portion of prior period policy fees have been reclassified to Net realized capital gains to conform to the current period presentation. See Note 14 herein for our accounting policy and Note 5 for a discussion of the fair value measurement of embedded policy derivatives, including policy on classification of fees. Revisions were made to change the classification of certain miscellaneous income from General operating and other expenses to Premiums and of certain broker-dealer fees from General operating and other expenses to Other income, to conform with the current period presentation, with no effect to Income from continuing operations or Net income attributable to AIG. |
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- Definition
Disclosure of change in presentation. No definition available.
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- Definition
Disclosure of accounting policy for investments in debt and equity securities that are classified as available-for-sale. This policy also may describe the entity's accounting treatment for transfers between investment categories, how the entity determines whether impairments of available-for-sale securities are other than temporary, and how the fair values of such securities are determined. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
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Dec. 31, 2014
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| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Held-for-Sale Classification, Divested Businesses and Discontinued Operations | Held-For-Sale Classification We report a business as held for sale when management has approved or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the next 12 months and certain other specified criteria are met. A business classified as held for sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized. Depreciation and amortization expense is not recorded on assets of a business after it is classified as held for sale. Assets and liabilities related to a business classified as held for sale are segregated in the Consolidated Balance Sheets in the period in which the business is classified as held for sale. Discontinued Operations We report the results of operations of a business as discontinued operations if the business is classified as held for sale, the operations and cash flows of the business have been or will be eliminated from our ongoing operations as a result of a disposal transaction and we will not have any significant continuing involvement in the operations of the business after the disposal transaction. The results of discontinued operations are reported in Discontinued Operations in the Consolidated Statements of Income for current and prior periods commencing in the period in which the business meets the criteria of a discontinued operation, and include any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell. The results of operations for the following business is presented as discontinued operations in our Consolidated Statements of Income. |
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| Investments | Fixed Maturity and Equity Securities Bonds held to maturity are carried at amortized cost when we have the ability and positive intent to hold these securities until maturity. When we do not have the ability or positive intent to hold bonds until maturity, these securities are classified as available for sale or are measured at fair value at our election. None of our fixed maturity securities met the criteria for held to maturity classification at December 31, 2014 or 2013. Fixed maturity and equity securities classified as available for sale are carried at fair value. Unrealized gains and losses from available for sale investments in fixed maturity and equity securities are reported as a separate component of Accumulated other comprehensive income, net of deferred policy acquisition costs and deferred income taxes, in shareholders’ equity. Realized and unrealized gains and losses from fixed maturity and equity securities measured at fair value at our election are reflected in Net investment income (for insurance subsidiaries) or Other income (for Corporate and Other). Investments in fixed maturity and equity securities are recorded on a trade-date basis. Premiums and discounts arising from the purchase of bonds classified as available for sale are treated as yield adjustments over their estimated holding periods, until maturity, or call date, if applicable. For investments in certain RMBS, CMBS and CDO/ABS, (collectively, structured securities), recognized yields are updated based on current information regarding the timing and amount of expected undiscounted future cash flows. For high credit quality structured securities, effective yields are recalculated based on actual payments received and updated prepayment expectations, and the amortized cost is adjusted to the amount that would have existed had the new effective yield been applied since acquisition with a corresponding charge or credit to net investment income. For structured securities that are not high credit quality, effective yields are recalculated and adjusted prospectively based on changes in expected undiscounted future cash flows. For purchased credit impaired (PCI) securities, at acquisition, the difference between the undiscounted expected future cash flows and the recorded investment in the securities represents the initial accretable yield, which is to be accreted into net investment income over the securities’ remaining lives on a level-yield basis. Subsequently, effective yields recognized on PCI securities are recalculated and adjusted prospectively to reflect changes in the contractual benchmark interest rates on variable rate securities and any significant increases in undiscounted expected future cash flows arising due to reasons other than interest rate changes. Other Invested Assets Carried at Fair Value Certain hedge funds, private equity funds, affordable housing partnerships and other investment partnerships for which we have elected the fair value option are reported at fair value with changes in fair value recognized in Net investment income with the exception of investments of AIG’s Corporate and Other category, for which such changes are reported in Other income. Other investments in hedge funds, private equity funds, affordable housing partnerships and other investment partnerships in which our insurance operations do not hold aggregate interests sufficient to exercise more than minor influence over the respective partnerships are reported at fair value with changes in fair value recognized as a component of Accumulated other comprehensive income. These investments are subject to other-than-temporary impairment evaluations (see discussion below on evaluating equity investments for other-than-temporary impairment). The gross unrealized loss recorded in Other comprehensive income on such investments was $56 million and $15 million at December 31, 2014 and 2013, respectively, the majority of which pertains to investments in private equity funds and hedge funds that have been in continuous unrealized loss positions for less than 12 months. Other Invested Assets – Equity Method Investments We account for hedge funds, private equity funds, affordable housing partnerships and other investment partnerships using the equity method of accounting unless our interest is so minor that we may have virtually no influence over partnership operating and financial policies, or we have elected the fair value option. Under the equity method of accounting, our carrying amount generally is our share of the net asset value of the funds or the partnerships, and changes in our share of the net asset values are recorded in Net investment income with the exception of investments of AIG’s Corporate and Other category, for which such changes are reported in Other income. In applying the equity method of accounting, we consistently use the most recently available financial information provided by the general partner or manager of each of these investments, which is one to three months prior to the end of our reporting period. The financial statements of these investees are generally audited annually. Other Investments Also included in Other invested assets are real estate held for investment and aircraft asset investments held by non-Aircraft Leasing subsidiaries. These investments are reported at cost, less depreciation and are subject to impairment review, as discussed below. Investments in Life Settlements Investments in life settlements are accounted for under the investment method. Under the investment method, we recognize our initial investment in life settlements at the transaction price plus all initial direct external costs. Continuing costs to keep the policy in force, primarily life insurance premiums, increase the carrying amount of the investment. We recognize income on individual investments in life settlements when the insured dies, at an amount equal to the excess of the investment proceeds over the carrying amount of the investment at that time. These investments are subject to impairment review, as discussed below. Net Investment Income Net investment income represents income primarily from the following sources:
Net Realized Capital Gains and Losses Net realized capital gains and losses are determined by specific identification. The net realized capital gains and losses are generated primarily from the following sources:
Evaluating Investments for Other-Than-Temporary Impairments Fixed Maturity Securities If we intend to sell a fixed maturity security or it is more likely than not that we will be required to sell a fixed maturity security before recovery of its amortized cost basis and the fair value of the security is below amortized cost, an other-than-temporary impairment has occurred and the amortized cost is written down to current fair value, with a corresponding charge to realized capital losses. When assessing our intent to sell a fixed maturity security, or whether it is more likely than not that we will be required to sell a fixed maturity security before recovery of its amortized cost basis, management evaluates relevant facts and circumstances including, but not limited to, decisions to reposition our investment portfolio, sales of securities to meet cash flow needs and sales of securities to take advantage of favorable pricing. For fixed maturity securities for which a credit impairment has occurred, the amortized cost is written down to the estimated recoverable value with a corresponding charge to realized capital losses. The estimated recoverable value is the present value of cash flows expected to be collected, as determined by management. The difference between fair value and amortized cost that is not related to a credit impairment is presented in unrealized appreciation (depreciation) of fixed maturity securities on which other-than-temporary credit impairments were recognized (a separate component of accumulated other comprehensive income). When estimating future cash flows for structured fixed maturity securities (e.g., RMBS, CMBS, CDO, ABS) management considers historical performance of underlying assets and available market information as well as bond-specific structural considerations, such as credit enhancement and priority of payment structure of the security. In addition, the process of estimating future cash flows includes, but is not limited to, the following critical inputs, which vary by asset class:
For corporate, municipal and sovereign fixed maturity securities determined to be credit impaired, management considers the fair value as the recoverable value when available information does not indicate that another value is more relevant or reliable. When management identifies information that supports a recoverable value other than the fair value, the determination of a recoverable value considers scenarios specific to the issuer and the security, and may be based upon estimates of outcomes of corporate restructurings, political and macroeconomic factors, stability and financial strength of the issuer, the value of any secondary sources of repayment and the disposition of assets. We consider severe price declines in our assessment of potential credit impairments. We may also modify our model inputs when we determine that price movements in certain sectors are indicative of factors not captured by the cash flow models. In periods subsequent to the recognition of an other-than-temporary impairment charge for available for sale fixed maturity securities that is not foreign exchange related, we prospectively accrete into earnings the difference between the new amortized cost and the expected undiscounted recoverable value over the remaining expected holding period of the security. Credit Impairments The following table presents a rollforward of the cumulative credit losses in other-than-temporary impairments recognized in earnings for available for sale fixed maturity securities:
* Represents both accretion recognized due to changes in cash flows expected to be collected over the remaining expected term of the credit impaired securities and the accretion due to the passage of time. Equity Securities We evaluate our available for sale equity securities for impairment by considering such securities as candidates for other-than-temporary impairment if they meet any of the following criteria:
The determination that an equity security is other-than-temporarily impaired requires the judgment of management and consideration of the fundamental condition of the issuer, its near-term prospects and all the relevant facts and circumstances. In addition to the above criteria, all equity securities that have been in a continuous decline in value below cost over twelve months are impaired. We also consider circumstances of a rapid and severe market valuation decline (50 percent or more) discount to cost, in which we could not reasonably assert that the impairment period would be temporary (severity losses). Other Invested Assets Our equity and cost method investments in private equity funds, hedge funds and other entities are evaluated for impairment similar to the evaluation of equity securities for impairments as discussed above. Such evaluation considers market conditions, events and volatility that may impact the recoverability of the underlying investments within these private equity funds and hedge funds and is based on the nature of the underlying investments and specific inherent risks. Such risks may evolve based on the nature of the underlying investments. Our investments in life settlements are monitored for impairment on a contract-by-contract basis quarterly. An investment in life settlements is considered impaired if the undiscounted cash flows resulting from the expected proceeds from the investment in life settlements would not be sufficient to recover our estimated future carrying amount of the investment in life settlements, which is the current carrying amount for the investment in life settlements plus anticipated undiscounted future premiums and other capitalizable future costs, if any. Impaired investments in life settlements are written down to their estimated fair value which is determined on a discounted cash flow basis, incorporating current market longevity assumptions and market yields. In general, fair value estimates for the investments in life settlements are calculated using cash flows based on medical underwriting ratings of the policies from a third-party underwriter, applied to an industry mortality table. Our mortality assumptions are based on an industry table as supplemented with proprietary data on the older age mortality of U.S. insured lives. Mortality improvement factors are applied to these assumptions based on our view of future mortality improvements likely to apply to the U.S. insured lives population. Our mortality assumptions coupled with the mortality improvement rates are used in our estimate of future net cash flows from the investments in life settlements. Our investments in aircraft assets and real estate are periodically evaluated for recoverability whenever changes in circumstances indicate the carrying amount of an asset may be impaired. When impairment indicators are present, we compare expected investment cash flows to carrying amount. When the expected cash flows are less than the carrying amount, the investments are written down to fair value with a corresponding charge to earnings. We also enter into agreements in which securities are purchased by us under agreements to resell (reverse repurchase agreements), which are accounted for as secured financing transactions and reported as Short-term investments or Other assets, depending on their terms. These agreements are recorded at their contracted resale amounts plus accrued interest, other than those that are accounted for at fair value. Such agreements entered into by the DIB are carried at fair value based on market observable interest rates. In all reverse repurchase transactions, we take possession of or obtain a security interest in the related securities, and we have the right to sell or repledge this collateral received. Mortgage and other loans receivable include commercial mortgages, life insurance policy loans, commercial loans, and other loans and notes receivable. Commercial mortgages, commercial loans, and other loans and notes receivable are carried at unpaid principal balances less credit allowances and plus or minus adjustments for the accretion or amortization of discount or premium. Interest income on such loans is accrued as earned. Direct costs of originating commercial mortgages, commercial loans, and other loans and notes receivable, net of nonrefundable points and fees, are deferred and included in the carrying amount of the related receivables. The amount deferred is amortized to income as an adjustment to earnings using the interest method. Life insurance policy loans are carried at unpaid principal amount. There is no allowance for policy loans because these loans serve to reduce the death benefit paid when the death claim is made and the balances are effectively collateralized by the cash surrender value of the policy. Methodology Used to Estimate the Allowance for Losses Mortgage and other loans receivable are considered impaired when collection of all amounts due under contractual terms is not probable. Impairment is measured using either i) the present value of expected future cash flows discounted at the loan’s effective interest rate, ii) the loan’s observable market price, if available, or iii) the fair value of the collateral if the loan is collateral dependent. Impairment of commercial mortgages is typically determined using the fair value of collateral while impairment of other loans is typically determined using the present value of cash flows or the loan’s observable market price. An allowance is typically established for the difference between the impaired value of the loan and its current carrying amount. Additional allowance amounts are established for incurred but not specifically identified impairments, based on the analysis of internal risk ratings and current loan values. Internal risk ratings are assigned based on the consideration of risk factors including past due status, debt service coverage, loan-to-value ratio, property occupancy, profile of the borrower and of the major property tenants, economic trends in the market where the property is located, and condition of the property. These factors and the resulting risk ratings also provide a basis for determining the level of monitoring performed at both the individual loan and the portfolio level. When all or a portion of a loan is deemed uncollectible, the uncollectible portion of the carrying amount of the loan is charged off against the allowance. Interest income on impaired loans is recognized as cash is received. For impaired loans where it has been determined that not all of the contractual principal due will be collected, any cash received is recorded as a reduction of the current carrying amount of the loan. A significant majority of commercial mortgage loans in the portfolio are non-recourse loans and, accordingly, the only guarantees are for specific items that are exceptions to the non-recourse provisions. It is therefore extremely rare for us to have cause to enforce the provisions of a guarantee on a commercial real estate or mortgage loan. |
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| Reinsurance | In the ordinary course of business, our insurance companies may use both treaty and facultative reinsurance to minimize their net loss exposure to any single catastrophic loss event or to an accumulation of losses from a number of smaller events or to provide greater diversification of our businesses. In addition, our general insurance subsidiaries assume reinsurance from other insurance companies. We determine the portion of the incurred but not reported (IBNR) loss that will be recoverable under our reinsurance contracts by reference to the terms of the reinsurance protection purchased. This determination is necessarily based on the estimate of IBNR and accordingly, is subject to the same uncertainties as the estimate of IBNR. Reinsurance assets include the balances due from reinsurance and insurance companies under the terms of our reinsurance agreements for paid and unpaid losses and loss adjustment expenses incurred, ceded unearned premiums and ceded future policy benefits for life and accident and health insurance contracts and benefits paid and unpaid. Amounts related to paid and unpaid losses and benefits and loss expenses with respect to these reinsurance agreements are substantially collateralized. We remain liable to the extent that our reinsurers do not meet their obligation under the reinsurance contracts, and as such, we regularly evaluate the financial condition of our reinsurers and monitor concentration of our credit risk. The estimation of the allowance for doubtful accounts requires judgment for which key inputs typically include historical trends regarding uncollectible balances, disputes and credit events as well as specific reviews of balances in dispute or subject to credit impairment. The allowance for doubtful accounts on reinsurance assets was $258 million and $276 million at December 31, 2014 and 2013, respectively. Changes in the allowance for doubtful accounts on reinsurance assets are reflected in Policyholder benefits and losses incurred within the Consolidated Statements of Income. |
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| Deferred Policy Acquisition Costs | Deferred policy acquisition costs (DAC) represent those costs that are incremental and directly related to the successful acquisition of new or renewal of existing insurance contracts. We defer incremental costs that result directly from, and are essential to, the acquisition or renewal of an insurance contract. Such deferred policy acquisition costs generally include agent or broker commissions and bonuses, premium taxes, and medical and inspection fees that would not have been incurred if the insurance contract had not been acquired or renewed. Each cost is analyzed to assess whether it is fully deferrable. We partially defer costs, including certain commissions, when we do not believe that the entire cost is directly related to the acquisition or renewal of insurance contracts. We also defer a portion of employee total compensation and payroll-related fringe benefits directly related to time spent performing specific acquisition or renewal activities, including costs associated with the time spent on underwriting, policy issuance and processing, and sales force contract selling. The amounts deferred are derived based on successful efforts for each distribution channel and/or cost center from which the cost originates. Short-duration insurance contracts: Policy acquisition costs are deferred and amortized over the period in which the related premiums written are earned, generally 12 months. DAC is grouped consistent with the manner in which the insurance contracts are acquired, serviced and measured for profitability and is reviewed for recoverability based on the profitability of the underlying insurance contracts. Investment income is anticipated in assessing the recoverability of DAC. We assess the recoverability of DAC on an annual basis or more frequently if circumstances indicate an impairment may have occurred. This assessment is performed by comparing recorded net unearned premiums and anticipated investment income on in-force business to the sum of expected losses and loss adjustment expenses incurred, unamortized DAC and maintenance costs. If the sum of these costs exceeds the amount of recorded net unearned premiums and anticipated investment income, the excess is recognized as an offset against the asset established for DAC. This offset is referred to as a premium deficiency charge. Increases in expected losses and loss adjustment expenses incurred can have a significant impact on the likelihood and amount of a premium deficiency charge. Long-duration insurance contracts: Policy acquisition costs for participating life, traditional life and accident and health insurance products are generally deferred and amortized, with interest, over the premium paying period. The assumptions used to calculate the benefit liabilities and DAC for these traditional products are set when a policy is issued and do not change with changes in actual experience, unless a loss recognition event occurs. These “locked-in” assumptions include mortality, morbidity, persistency, maintenance expenses and investment returns, and include margins for adverse deviation to reflect uncertainty given that actual experience might deviate from these assumptions. A loss recognition event occurs when there is a shortfall between the carrying amounts of future policy benefit liabilities net of DAC and the amount the future policy benefit liabilities net of DAC would be when applying updated current assumptions. When we determine a loss recognition event has occurred, we first reduce any DAC related to that block of business through amortization of acquisition expense, and after DAC is depleted, we record additional liabilities through a charge to Policyholder benefits and losses incurred. Groupings for loss recognition testing are consistent with our manner of acquiring and servicing the business and applied by product groupings. We perform separate loss recognition tests for traditional life products, payout annuities and long-term care products. Once loss recognition has been recorded for a block of business, the old assumption set is replaced and the assumption set used for the loss recognition would then be subject to the lock-in principle. Investment-oriented contracts: Policy acquisition costs and policy issuance costs related to universal life and investment-type products (collectively, investment-oriented products) are deferred and amortized, with interest, in relation to the incidence of estimated gross profits to be realized over the estimated lives of the contracts. Estimated gross profits include net investment income and spreads, net realized investment gains and losses, fees, surrender charges, expenses, and mortality gains and losses. In each reporting period, current period amortization expense is adjusted to reflect actual gross profits. If estimated gross profits change significantly, DAC is recalculated using the new assumptions, and any resulting adjustment is included in income. If the new assumptions indicate that future estimated gross profits are higher than previously estimated, DAC will be increased resulting in a decrease in amortization expense and increase in income in the current period; if future estimated gross profits are lower than previously estimated, DAC will be decreased resulting in an increase in amortization expense and decrease in income in the current period. Updating such assumptions may result in acceleration of amortization in some products and deceleration of amortization in other products. DAC is grouped consistent with the manner in which the insurance contracts are acquired, serviced and measured for profitability and is reviewed for recoverability based on the current and projected future profitability of the underlying insurance contracts. To estimate future estimated gross profits for variable annuity products, a long-term annual asset growth assumption is applied to determine the future growth in assets and related asset-based fees. In determining the asset growth rate, the effect of short-term fluctuations in the equity markets is partially mitigated through the use of a “reversion to the mean” methodology whereby short-term asset growth above or below long-term annual rate assumptions impact the growth assumption applied to the five-year period subsequent to the current balance sheet date. The reversion to the mean methodology allows us to maintain our long-term growth assumptions, while also giving consideration to the effect of actual investment performance. When actual performance significantly deviates from the annual long-term growth assumption, as evidenced by growth assumptions in the five-year reversion to the mean period falling below a certain rate (floor) or above a certain rate (cap) for a sustained period, judgment may be applied to revise or “unlock” the growth rate assumptions to be used for both the five-year reversion to the mean period as well as the long-term annual growth assumption applied to subsequent periods. Shadow DAC and Shadow Loss Recognition: DAC related to investment-oriented products is also adjusted to reflect the effect of unrealized gains or losses on fixed maturity and equity securities available for sale on estimated gross profits, with related changes recognized through Other comprehensive income (shadow DAC). The adjustment is made at each balance sheet date, as if the securities had been sold at their stated aggregate fair value and the proceeds reinvested at current yields. Similarly, for long-duration traditional insurance contracts, if the assets supporting the liabilities maintain a temporary net unrealized gain position at the balance sheet date, loss recognition testing assumptions are updated to exclude such gains from future cash flows by reflecting the impact of reinvestment rates on future yields. If a future loss is anticipated under this basis, any additional shortfall indicated by loss recognition tests is recognized as a reduction in accumulated other comprehensive income (shadow loss recognition). Similar to other loss recognition on long-duration insurance contracts, such shortfall is first reflected as a reduction in DAC and secondly as an increase in liabilities for future policy benefits. The change in these adjustments, net of tax, is included with the change in net unrealized appreciation of investments that is credited or charged directly to Other comprehensive income. Internal Replacements of Long-duration and Investment-oriented Products: For some products, policyholders can elect to modify product benefits, features, rights or coverages by exchanging a contract for a new contract or by amendment, endorsement, or rider to a contract, or by the election of a feature or coverage within a contract. These transactions are known as internal replacements. If the modification does not substantially change the contract, we do not change the accounting and amortization of existing DAC and related actuarial balances. If an internal replacement represents a substantial change, the original contract is considered to be extinguished and any related DAC or other policy balances are charged or credited to income, and any new deferrable costs associated with the replacement contract are deferred. Value of Business Acquired (VOBA) is determined at the time of acquisition and is reported in the Consolidated Balance Sheets with DAC. This value is based on the present value of future pre-tax profits discounted at yields applicable at the time of purchase. For participating life, traditional life and accident and health insurance products, VOBA is amortized over the life of the business in a manner similar to that for DAC based on the assumptions at purchase. For investment-oriented products, VOBA is amortized in relation to estimated gross profits and adjusted for the effect of unrealized gains or losses on fixed maturity and equity securities available for sale in a manner similar to DAC. |
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| Derivatives and Hedge Accounting | We use derivatives and other financial instruments as part of our financial risk management programs and as part of our investment operations. Interest rate, currency, equity and commodity swaps, credit contracts (including the super senior credit default swap portfolio), swaptions, options and forward transactions are accounted for as derivatives, recorded on a trade-date basis and carried at fair value. Unrealized gains and losses are reflected in income, when appropriate. In certain instances, a contract’s transaction price is the best indication of initial fair value. Aggregate asset or liability positions are netted on the Consolidated Balance Sheets only to the extent permitted by qualifying master netting arrangements in place with each respective counterparty. Cash collateral posted with counterparties in conjunction with transactions supported by qualifying master netting arrangements is reported as a reduction of the corresponding net derivative liability, while cash collateral received in conjunction with transactions supported by qualifying master netting arrangements is reported as a reduction of the corresponding net derivative asset. Derivatives, with the exception of bifurcated embedded derivatives, are reflected in the Consolidated Balance Sheets in Derivative assets, at fair value and Derivative liabilities, at fair value. A bifurcated embedded derivative is measured at fair value and accounted for in the same manner as a free standing derivative contract. The corresponding host contract is accounted for according to the accounting guidance applicable for that instrument. A bifurcated embedded derivative is generally presented with the host contract in the Consolidated Balance Sheets. See Notes 5 and 14 herein for additional information on embedded policy derivatives. |
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| Liability for unpaid claims and claims adjustment expense | Liability for Unpaid Losses and Loss Adjustment Expenses The liability for unpaid losses and loss adjustment expenses represents the accumulation of estimates of unpaid claims, including estimates for claims incurred but not reported and claim adjustments expenses, less applicable discount for future investment income. We continually review and update the methods used to determine loss reserve estimates and to establish the resulting reserves. Any adjustments resulting from this review are reflected currently in pre-tax income. Because these estimates are subject to the outcome of future events, changes in estimates are common given that loss trends vary and time is often required for changes in trends to be recognized and confirmed. Reserve changes that increase previous estimates of ultimate cost are referred to as unfavorable or adverse development or reserve strengthening. Reserve changes that decrease previous estimates of ultimate cost are referred to as favorable development. |
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| Future policy benefits for life and accident and health insurance contracts and policyholder contract deposits | Future Policy Benefits Future policy benefits primarily include reserves for traditional life and annuity payout contracts, which represent an estimate of the present value of future benefits less the present value of future net premiums. Included in Future policy benefits are liabilities for annuities issued in structured settlement arrangements whereby a claimant has agreed to settle a general insurance claim in exchange for fixed payments over a fixed determinable period of time with a life contingency feature. Future policy benefits also include certain guaranteed benefits of variable annuity products that are not considered embedded derivatives, primarily guaranteed minimum death benefits. See Note 14 for additional information on guaranteed death benefits. Policyholder Contract Deposits The liability for Policyholder contract deposits is primarily recorded at accumulated value (deposits received and net transfers from separate accounts, plus accrued interest credited at rates ranging from 0.3% to 8.4% at December 31, 2014, less withdrawals and assessed fees). Deposits collected on investment-oriented products are not reflected as revenues, because they are recorded directly to Policyholder contract deposits upon receipt. Amounts assessed against the contract holders for mortality, administrative, and other services are included in revenues. In addition to liabilities for universal life, fixed annuities, fixed options within variable annuities, annuities without life contingencies, funding agreements and GICs, policyholder contract deposits also include our liability for (a) certain guaranteed benefits and indexed features accounted for as embedded derivatives at fair value, (b) annuities issued in a structured settlement arrangement with no life contingency and (c) certain contracts we have elected to account for at fair value. See Note 14 herein for additional information on guaranteed benefits accounted for as embedded derivatives. Under a funding agreement-backed notes issuance program, an unaffiliated, non-consolidated statutory trust issues medium-term notes to investors, which are secured by GICs issued to the trust by one of our Life Insurance Companies through our Institutional Markets operating segment. During the year ended December 31, 2014, a $450 million GIC was issued in conjunction with the funding agreement-backed notes program. |
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| Debt | Our long-term debt is denominated in various currencies, with both fixed and variable interest rates. Long-term debt is carried at the principal amount borrowed, including unamortized discounts, hedge accounting valuation adjustments and fair value adjustments, when applicable. The interest rates presented in the following table reflect the range of contractual rates in effect at December 31, 2014, including fixed and variable rate issuances. |
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| Contingencies, Commitments and Guarantees | In the normal course of business, various contingent liabilities and commitments are entered into by AIG and our subsidiaries. In addition, AIG Parent guarantees various obligations of certain subsidiaries. Although AIG cannot currently quantify its ultimate liability for unresolved litigation and investigation matters, including those referred to below, it is possible that such liability could have a material adverse effect on AIG’s consolidated financial condition or its consolidated results of operations or consolidated cash flows for an individual reporting period. Legal Contingencies Overview. In the normal course of business, AIG and our subsidiaries are, like others in the insurance and financial services industries in general, subject to litigation, including claims for punitive damages. In our insurance and mortgage guaranty operations, litigation arising from claims settlement activities is generally considered in the establishment of our liability for unpaid losses and loss adjustment expenses. However, the potential for increasing jury awards and settlements makes it difficult to assess the ultimate outcome of such litigation. AIG is also subject to derivative, class action and other claims asserted by its shareholders and others alleging, among other things, breach of fiduciary duties by its directors and officers and violations of insurance laws and regulations, as well as federal and state securities laws. In the case of any derivative action brought on behalf of AIG, any recovery would accrue to the benefit of AIG. |
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| Noncontrolling Interests | Redeemable noncontrolling interest Nonvoting, callable, junior preferred interests held by the Department of Treasury represented preferred interests in the AIA SPV and ALICO SPV. In connection with the execution of our orderly asset disposition plan, as well as the repayment of the FRBNY Credit Facility, we transferred two of our wholly-owned businesses, AIA and ALICO, to two newly created SPVs in exchange for all the common and preferred interests (the SPV Preferred Interests) of those SPVs. On December 1, 2009, AIG transferred the SPV Preferred Interests to the FRBNY in consideration for a $25 billion reduction of the outstanding loan balance and of the maximum amount of credit available under the FRBNY Credit Facility and amended the terms of the FRBNY Credit Facility. As part of the closing of the Recapitalization, the remaining SPV Preferred Interests, with an aggregate liquidation preference of approximately $20.3 billion at January 14, 2011, were purchased from the FRBNY by AIG and transferred to the Department of the Treasury as part of the consideration for the exchange of our Series F Preferred Stock. The common interests, which we retained, entitled us to 100 percent of the voting power of the SPVs. The voting power allowed us to elect the boards of managers of the SPVs, who oversaw the management and operation of the SPVs. Primarily due to the substantive participation rights of the SPV Preferred Interests, the SPVs were determined to be VIEs. As the primary beneficiary of the SPVs, we consolidated the SPVs. As a result of the closing of the Recapitalization on January 14, 2011, the SPV Preferred Interests held by the Department of the Treasury were no longer considered permanent equity on our Consolidated Balance Sheets, and were classified as redeemable noncontrolling interests. As part of the Recapitalization, we used approximately $6.1 billion of the cash proceeds from the sale of ALICO to pay down a portion of the liquidation preference of the SPV Preferred Interests. The liquidation preference of the SPV Preferred Interests was further reduced by approximately $12.4 billion using proceeds from the sale of AIG Star, AIG Edison, Nan Shan, and MetLife securities received in the sale of ALICO. During the first quarter of 2011, the remaining liquidation preference of the ALICO SPV Preferred Interests was paid in full. The SPV Preferred Interests were measured at fair value on their issuance date. The SPV Preferred Interests initially had a liquidation preference of $25 billion and had a preferred return of five percent per year compounded quarterly through September 22, 2013 and nine percent thereafter. The preferred return is reflected in Net income from continuing operations attributable to noncontrolling interests - Nonvoting, callable, junior and senior preferred interests in the Consolidated Statements of Income. The difference between the SPV Preferred Interests’ fair value and the initial liquidation preference was amortized and included in Net income from continuing operations attributable to noncontrolling interests - Nonvoting, callable, junior and senior preferred interests. During the first quarter of 2012, the liquidation preference of the AIA SPV Preferred Interests was paid down in full. Non-redeemable noncontrolling interests Non-redeemable noncontrolling interests include the equity interests of third-party shareholders in our consolidated subsidiaries and includes the preferred shareholders’ equity in outstanding preferred stock of ILFC, a wholly-owned subsidiary that was held for sale at December 31, 2013 and 2012. The preferred stock in ILFC consisted of 1,000 shares of market auction preferred stock (MAPS) in two series (Series A and B) of 500 shares each. Each of the MAPS shares had a liquidation value of $100,000 per share and was not convertible. Dividends on the MAPS were accounted for as a reduction of the noncontrolling interest. The dividend rate, other than the initial rate, for each dividend period for each series was reset approximately every seven weeks (49 days) on the basis of orders placed in an auction, provided such auctions were able to occur. The MAPS were transferred as part of the sale of ILFC. On May 14, 2014, we completed the sale of International Lease Finance Corporation (ILFC) to AerCap Ireland Limited, a wholly owned subsidiary of AerCap Holdings N.V. (AerCap). See Note 4 – Held-For-Sale Classification and Discontinued Operations for further discussion. |
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| Earnings Per Share | The basic EPS computation is based on the weighted average number of common shares outstanding, adjusted to reflect all stock dividends and stock splits. The diluted EPS computation is based on those shares used in the basic EPS computation plus shares that would have been outstanding assuming issuance of common shares for all dilutive potential common shares outstanding and adjusted to reflect all stock dividends and stock splits. |
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| Income Taxes | Assessment of Deferred Tax Asset Valuation Allowance The evaluation of the recoverability of the deferred tax asset and the need for a valuation allowance requires us to weigh all positive and negative evidence to reach a conclusion that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The weight given to the evidence is commensurate with the extent to which it can be objectively verified. The more negative evidence that exists, the more positive evidence is necessary and the more difficult it is to support a conclusion that a valuation allowance is not needed. Our framework for assessing the recoverability of deferred tax assets requires us to consider all available evidence, including:
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| Revenues and expenses | Premiums for short-duration contracts are recorded as written on the inception date of the policy. Premiums are earned primarily on a pro rata basis over the term of the related coverage. Sales of extended services contracts are reflected as premiums written and earned on a pro rata basis over the term of the related coverage. In addition, certain miscellaneous income is included as premiums written and earned. The reserve for unearned premiums includes the portion of premiums written relating to the unexpired terms of coverage. Reinsurance premiums are typically earned over the same period as the underlying policies or risks covered by the contract. As a result, the earnings pattern of a reinsurance contract may extend up to 24 months, reflecting the inception dates of the underlying policies throughout the year. Reinsurance premiums ceded are recognized as a reduction in revenues over the period the reinsurance coverage is provided in proportion to the risks to which the premiums relate. Premiums for long-duration insurance products and life contingent annuities are recognized as revenues when due. Estimates for premiums due but not yet collected are accrued. Policy fees represent fees recognized from universal life and investment-type products consisting of policy charges for the cost of insurance, policy administration charges, surrender charges and amortization of unearned revenue reserves. Aircraft leasing revenue from flight equipment under operating leases, through May 14, 2014, the date of disposal of ILFC, was recognized over the life of the leases as rental payments became receivable under the provisions of the leases or, in the case of leases with varying payments, under the straight-line method over the noncancelable term of the leases. In certain cases, leases provided for additional payments contingent on usage. In those cases, rental revenue was recognized at the time such usage occurred, net of estimated future contractual aircraft maintenance reimbursements. Gains on sales of flight equipment were recognized when flight equipment was sold and the risk of ownership of the equipment passed to the new owner. Other income includes unrealized gains and losses on derivatives, including income from the Direct Investment book (DIB) unrealized market valuation gains and losses associated with the Global Capital Markets (GCM) super senior credit default swap (CDS) portfolio, advisory fee income from the Consumer Insurance broker dealer business, as well as legal settlements of $804 million, $1.2 billion and $200 million from legacy crisis and other matters in 2014, 2013 and 2012, respectively. Other income from our Corporate and Other category consists of the following:
Aircraft leasing expenses through May 14, 2014, the date of disposal of ILFC, consisted of ILFC interest expense, depreciation expense, impairment charges, fair value adjustments and lease-related charges on aircraft as well as selling, general and administrative expenses and other expenses incurred by ILFC. |
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| Cash | Cash represents cash on hand and non-interest- bearing demand deposits. |
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| Premiums and other receivables - net | Premiums and other receivables – net of allowance include premium balances receivable, amounts due from agents and brokers and policyholders, trade receivables for the DIB and GCM and other receivables. Trade receivables for GCM include cash collateral posted to derivative counterparties that is not eligible to be netted against derivative liabilities. The allowance for doubtful accounts on premiums and other receivables was $428 million and $554 million at December 31, 2014 and 2013, respectively. |
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| Other assets | Other assets consist of sales inducement assets, prepaid expenses, deposits, other deferred charges, real estate, other fixed assets, capitalized software costs, goodwill, intangible assets other than goodwill, and restricted cash. We offer sales inducements which include enhanced crediting rates or bonus payments to contract holders (bonus interest) on certain annuity and investment contract products. Sales inducements provided to the contract holder are recognized in Policyholder contract deposits in the Consolidated Balance Sheets. Such amounts are deferred and amortized over the life of the contract using the same methodology and assumptions used to amortize DAC (see Note 9 herein). To qualify for such accounting treatment, the bonus interest must be explicitly identified in the contract at inception. We must also demonstrate that such amounts are incremental to amounts we credit on similar contracts without bonus interest, and are higher than the contract’s expected ongoing crediting rates for periods after the bonus period. The deferred bonus interest and other deferred sales inducement assets totaled $629 million and $703 million at December 31, 2014 and 2013, respectively. The amortization expense associated with these assets is reported within Interest credited to policyholder account balances in the Consolidated Statements of Income. Such amortization expense totaled $63 million, $102 million and $162 million for the years ended December 31, 2014, 2013 and 2012, respectively. The cost of buildings and furniture and equipment is depreciated principally on the straight-line basis over their estimated useful lives (maximum of 40 years for buildings and 10 years for furniture and equipment). Expenditures for maintenance and repairs are charged to income as incurred and expenditures for improvements are capitalized and depreciated. We periodically assess the carrying amount of our real estate for purposes of determining any asset impairment. Capitalized software costs, which represent costs directly related to obtaining, developing or upgrading internal use software, are capitalized and amortized using the straight-line method over a period generally not exceeding five years. Real estate, fixed assets and other long-lived assets are assessed for impairment when impairment indicators exist. |
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| Goodwill | Goodwill represents the future economic benefits arising from assets acquired in a business combination that are not individually identified and separately recognized. Goodwill is tested for impairment annually or more frequently if circumstances indicate an impairment may have occurred. We assess goodwill for impairment at one level below our reportable segments. At December 31, 2014, in consideration of the 2014 segment changes, our reporting units with goodwill are Commercial Insurance - Property Casualty, Consumer Insurance - Personal Insurance, and Consumer Insurance - Life. When a business is transferred from one reporting unit to another, as occurred with the transfer of a portion of the Consumer Insurance - Personal Insurance to Consumer Insurance – Life, as part of the 2014 segment changes, goodwill at the original reporting unit is allocated among reporting units based on the fair value of business transferred, relative to business retained by a reporting unit. The impairment assessment involves an option to first assess qualitative factors to determine whether events or circumstances exist that lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the qualitative assessment is not performed, or after assessing the totality of the events or circumstances, we determine it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the impairment assessment involves a two-step process in which a quantitative assessment for potential impairment is performed. If the qualitative test is not performed or if the test indicates a potential impairment is present, we estimate the fair value of each reporting unit and compare the estimated fair value with the carrying amount of the reporting unit, including allocated goodwill. The estimate of a reporting unit’s fair value involves management judgment and is based on one or a combination of approaches including discounted expected future cash flows, market-based earnings multiples of the unit’s peer companies, external appraisals or, in the case of reporting units being considered for sale, third-party indications of fair value, if available. We consider one or more of these estimates when determining the fair value of a reporting unit to be used in the impairment test. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill is not impaired. If the carrying value of a reporting unit exceeds its estimated fair value, goodwill associated with that reporting unit potentially is impaired. The amount of impairment, if any, is measured as the excess of the carrying value of the goodwill over the implied fair value of the goodwill. The implied fair value of the goodwill is measured as the excess of the fair value of the reporting unit over the amounts that would be assigned to the reporting unit’s assets and liabilities in a hypothetical business combination. An impairment charge is recognized in earnings to the extent of the excess of carrying value over fair value. Goodwill was not impaired at December 31, 2014 based on the results of the goodwill impairment test. The following table presents the changes in goodwill by reportable segment:
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| Separate accounts | Separate accounts represent funds for which investment income and investment gains and losses accrue directly to the policyholders who bear the investment risk. Each account has specific investment objectives and the assets are carried at fair value. The assets of each account are legally segregated and are not subject to claims that arise from any of our other businesses. The liabilities for these accounts are equal to the account assets. For a more detailed discussion of separate accounts, see Note 14 herein. |
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| Other policyholder funds | Other policyholder funds are reported at cost and include any policyholder funds on deposit that encompass premium deposits and similar items, including liabilities for dividends arising out of participating business, reserves for experience-rated group products and unearned revenue reserves (URR). URR consist of front end loads on interest-sensitive contracts, representing those policy loads that are non-level and typically higher in initial policy years than in later policy years. URR for interest-sensitive life insurance policies are generally deferred and amortized, with interest, in relation to the incidence of estimated gross profits (EGPs) - to be realized over the estimated lives of the contracts and are subject to the same adjustments due to changes in the assumptions underlying EGPs as DAC. |
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| Other liabilities | Other liabilities consist of other funds on deposit, other payables, securities sold under agreements to repurchase and securities sold but not yet purchased. We have entered into certain insurance and reinsurance contracts, primarily in our Non-Life Insurance Companies segment, that do not contain sufficient insurance risk to be accounted for as insurance or reinsurance. Accordingly, the premiums received on such contracts, after deduction for certain related expenses, are recorded as deposits within Other liabilities in the Consolidated Balance Sheets. Net proceeds of these deposits are invested and generate Net investment income. As amounts are paid, consistent with the underlying contracts, the deposit liability is reduced. Also included in Other liabilities are trade payables for the DIB and GCM, which include option premiums received and payables to counterparties that relate to unrealized gains and losses on futures, forwards, and options and balances due to clearing brokers and exchanges. Trade payables for GCM also include cash collateral received from derivative counterparties that contractually cannot be netted against derivative assets. Securities sold but not yet purchased represent sales of securities not owned at the time of sale. The obligations arising from such transactions are recorded on a trade-date basis and carried at fair value. Fair values of securities sold but not yet purchased are based on current market prices. |
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| Foreign currency | Foreign currency: Financial statement accounts expressed in foreign currencies are translated into U.S. dollars. Functional currency assets and liabilities are translated into U.S. dollars generally using rates of exchange prevailing at the balance sheet date of each respective subsidiary and the related translation adjustments are recorded as a separate component of Accumulated other comprehensive income, net of any related taxes, in Total AIG shareholders’ equity. Functional currencies are generally the currencies of the local operating environment. Financial statement accounts expressed in currencies other than the functional currency of a consolidated entity are translated into that entity’s functional currency. Income statement accounts expressed in functional currencies are translated using average exchange rates during the period. The adjustments resulting from translation of financial statements of foreign entities operating in highly inflationary economies are recorded in income. Exchange gains and losses resulting from foreign currency transactions are recorded in income. |
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| Future Application of Accounting Standards | Future Application of Accounting Standards Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure In January 2014, the FASB issued an accounting standard that clarifies that a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, so that the loan is derecognized and the real estate property is recognized, when either (i) the creditor obtains legal title to the residential real estate property upon completion of a foreclosure or (ii) the borrower conveys all interest in the residential real estate property to the creditor to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The standard is effective for interim and annual reporting periods beginning after December 15, 2014. Early adoption is permitted. We plan to adopt the standard on its required effective date of January 1, 2015 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Reporting Discontinued Operations In April 2014, the FASB issued an accounting standard that changes the requirements for presenting a component or group of components of an entity as a discontinued operation and requires new disclosures. Under the standard, the disposal of a component or group of components of an entity should be reported as a discontinued operation if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Disposals of equity method investments, or those reported as held-for-sale, must be presented as a discontinued operation if they meet the new definition. The standard also requires entities to provide disclosures about the disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation. The standard is effective prospectively for all disposals of components (or classification of components as held-for-sale) of an entity that occur within interim and annual periods beginning on or after December 15, 2014. Early adoption is permitted, but only for disposals (or classifications of components as held-for-sale) that have not been reported in financial statements previously issued. We plan to adopt the standard on its required effective date of January 1, 2015 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Revenue Recognition In May 2014, the FASB issued an accounting standard that supersedes most existing revenue recognition guidance. The standard excludes from its scope the accounting for insurance contracts, leases, financial instruments, and other agreements that are governed under other GAAP guidance, but affects the revenue recognition for certain of our other activities. The standard is effective for interim and annual reporting periods beginning after December 15, 2016 and may be applied retrospectively or through a cumulative effect adjustment to retained earnings at the date of adoption. Early adoption is not permitted. We plan to adopt the standard on its required effective date of January 1, 2017 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In June 2014, the FASB issued an accounting standard that changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires additional disclosures about repurchase agreements and other similar transactions. The standard aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements such that they all will be accounted for as secured borrowings. The standard eliminates sale accounting for repurchase-to-maturity transactions and supersedes the standard under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement. The accounting standard and new disclosure requirements for certain transactions accounted for as sales are effective for interim and annual reporting periods beginning after December 15, 2014, while the disclosure requirements for transactions accounted for as secured borrowings are effective for annual reporting periods beginning after December 15, 2014 and for interim reporting periods beginning after March 15, 2015. Early adoption is not permitted. We plan to adopt the standard on its required effective dates and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Accounting for Share-Based Payments with Performance Targets In June 2014, the FASB issued an accounting standard that clarifies the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The standard requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. We plan to adopt the standard on its required effective date of January 1, 2016 and do not expect the adoption of the standard to have a material effect on our consolidated financial condition, results of operations or cash flows. Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity In August 2014, the FASB issued an accounting standard that allows a reporting entity to measure the financial assets and financial liabilities of a qualifying consolidated collateralized financing entity using the fair value of either its financial assets or financial liabilities, whichever is more observable. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The standard may be applied retrospectively to all relevant prior periods presented starting with January 1, 2010 or through a cumulative effect adjustment to retained earnings at the date of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations or cash flows Consolidation: Amendments to the Consolidation Analysis In February 2015, the FASB issued an accounting standard that affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments modify the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The standard is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the year of adoption. We plan to adopt the standard on its required effective date of January 1, 2016 and are assessing the impact of the standard on our consolidated financial condition, results of operations and cash flows. |
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| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Standards Adopted | Accounting Standards Adopted During 2014 Certain Obligations Resulting from Joint and Several Liability Arrangements In February 2013, the Financial Accounting Standards Board (FASB) issued an accounting standard that requires us to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of (i) the amount we agreed to pay on the basis of our arrangement among our co-obligors and (ii) any additional amount we expect to pay on behalf of our co-obligors. We adopted the standard on its required effective date of January 1, 2014. The adoption of this standard had no material effect on our consolidated financial condition, results of operations or cash flows. Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of an Investment within a Foreign Entity or of an Investment in a Foreign Entity |
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Disclosure of accounting policy for cash. No definition available.
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Disclosure of accounting policy for noncontrolling interests. No definition available.
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Disclosure of accounting policy for assets which includes funds on deposit and other payables. No definition available.
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- Definition
Disclosure of accounting policy for other liabilities which includes other funds on deposit and other payables not described elsewhere in the taxonomy. No definition available.
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- Definition
Disclosure of accounting policy for other policyholder funds including funds on deposit that encompass premium deposits and similar items. No definition available.
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Disclosure of recent accounting standards issued, but not yet adopted, and the entity's assessment of the impact on its financial statements, if known. No definition available.
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- Definition
Disclosure of accounting policy for recognition of revenue and expenses. No definition available.
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- Definition
Disclosure of accounting policy for deferred policy acquisition costs, including the nature, type, and amount of capitalized costs incurred to write or acquire insurance contracts, and the basis for and methodologies applied in capitalizing and amortizing such costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for the claims loss reserve for insurance contracts with a life contingency (permanent life, some term life, accident and health, some annuities), describing the loss exposures and bases and methodologies for making the relevant accounting estimates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for costs incurred to obtain or issue debt, the effects of refinancings, method of amortizing deferred financing costs and original issue discount, and classifications of debt on the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for any discontinued operations. The results of operations of a component of an entity that either has been disposed of or is classified as held for sale is reported in discontinued operations if both: (a) the operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction and (b) the entity will not have any significant continuing involvement in the operations of the component after the disposal transaction. If the entity elects to allocate interest expense to a discontinued operation, it may disclose its accounting policy for this election and describe its method of allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for an insurance entity's net liability for future benefits (for example, death, cash surrender value) to be paid to or on behalf of policyholders, describing the bases, methodologies and components of the reserve, and assumptions regarding estimates of expected investment yields, mortality, morbidity, terminations and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for goodwill. This accounting policy also may address how an entity assesses and measures impairment of goodwill, how reporting units are determined, how goodwill is allocated to such units, and how the fair values of the reporting units are determined. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition
Disclosure of accounting policy for contracts reported in separate accounts, including the extent and terms of minimum guarantees, basis of presentation for separate account assets and liabilities and related separate account activity, the liability valuation method and assumptions used in valuing each type of policyholder and contract holder account maintained by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of reinsurance accounting policy, for example, but not limited to, description of the methodologies and assumptions underlying determination of reinsurance recoverables, reinsurance payables and retention policy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables. If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for estimating the ultimate cost of settling insurance claims relating to insured events that have occurred on or before a particular date (ordinarily, the statement of financial position date). The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claims adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of changes in goodwill by reportable segment |
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- Definition
Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SEGMENT INFORMATION (Tables)
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Dec. 31, 2014
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| SEGMENT INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of continuing operations by reportable segment |
* Includes Run-off Insurance Lines and Other Businesses. |
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| Schedule of year-end identifiable assets and capital expenditures by reportable segment |
* 2013 includes Aircraft Leasing assets classified as assets held-for-sale on the Consolidated Balance Sheets. |
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| Schedule of entity's consolidated operations and long-lived assets by major geographic area |
* Revenues are generally reported according to the geographic location of the reporting unit. |
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- Definition
Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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HELD-FOR-SALE CLASSIFICATION, DIVESTED BUSINESSES AND DISCONTINUED OPERATIONS (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| HELD-FOR-SALE CLASSIFICATION, DIVESTED BUSINESSES AND DISCONTINUED OPERATIONS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of assets and liabilities held for sale |
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| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of income (loss) from discontinued operations |
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- Definition
Tabular disclosure of assets and liabilities held for sale. Disclosure may include the description of facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss). No definition available.
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- Details
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- Details
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- Definition
Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FAIR VALUE MEASUREMENTS (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets and liabilities measured at fair value on a recurring basis |
(a) Represents netting of derivative exposures covered by qualifying master netting agreements. (b) Effective April 1, 2014, we reclassified cross-currency swaps from Interest Rate contracts to Foreign exchange contracts. This change was applied prospectively. |
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| Changes in Level 3 recurring fair value measurements |
* Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. |
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| Schedule of net realized and unrealized gains and losses related to Level 3 items |
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| Gross components of purchases, sales, issues and settlements, net |
(a) There were no issuances during the years ended December 31, 2014 and 2013. (b) Includes GIAs, notes, bonds, loans and mortgages payable. |
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| Significant unobservable inputs used for recurring fair value measurements |
(a) The unobservable inputs and ranges for the constant prepayment rate, loss severity and constant default rate relate to each of the individual underlying mortgage loans that comprise the entire portfolio of securities in the RMBS and CDO securitization vehicles and not necessarily to the securitization vehicle bonds (tranches) purchased by us. The ranges of these inputs do not directly correlate to changes in the fair values of the tranches purchased by us because there are other factors relevant to the fair values of specific tranches owned by us including, but not limited to, purchase price, position in the waterfall, senior versus subordinated position and attachment points. (b) Represents discount rates, estimates and assumptions that we believe would be used by market participants when valuing these assets and liabilities. (c) Information received from third-party valuation service providers. |
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| Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share |
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| Gains or losses related to the eligible instruments for which AIG elected the fair value option |
(a) Includes certain hedge funds, private equity funds and other investment partnerships. (b) Includes GIAs, notes, bonds and mortgages payable. |
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| Difference between fair values and aggregate contractual principal amounts, fair value option |
* Includes GIAs, notes, bonds, loans and mortgages payable. |
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| Fair value assets measured on nonrecurring basis and impairment charges |
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| Carrying values and estimated fair values of AIG's financial instruments |
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- Definition
Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets and liabilities) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets and liabilities) are reported in the statement of income (or activities); (2) purchases, sales, issuances and settlements (each type disclosed separately); and (3) transfers in and transfers out of level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset and liability. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset and liability. No definition available.
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- Definition
Tabular disclosure regarding gross purchases, sales, issuances, and settlements (net) which have taken place during the period in relation to assets and liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3). No definition available.
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- Definition
Disclosure of the difference between fair values and the aggregate contractual principal amounts of mortgage and other loans receivable and long-term borrowings, for which the fair value option was elected. No definition available.
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- Definition
Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Tabular disclosure of the fair value of investees that calculate net asset value per share (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments), whether measured at fair value on a recurring or nonrecurring basis, by major category of assets and liabilities (as defined), including, for example, (i) fair value measurements at the reporting date, (ii) the level within the fair value hierarchy in which the fair value measurements fall, (iii) a reconciliation of beginning and ending balances for those alternative investments that are measured at fair value using unobservable inputs (Level 3 - fair value hierarchy fair value measurement inputs), (iv) the inputs and valuation techniques used to measure fair value, (v) a discussion of changes to valuation techniques and inputs, if any, during the period, (vi) a description of the nature and risk associated with the alternative investments, and (vii) a discussion of the probability that any of the alternative investments are to be sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INVESTMENTS (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| INVESTMENTS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The amortized cost or cost and fair value of AIG's available for sale securities and other invested assets carried at fair value |
(a) Represents the amount of other-than-temporary impairment losses recognized in Accumulated other comprehensive income. Amount includes unrealized gains and losses on impaired securities relating to changes in the value of such securities subsequent to the impairment measurement date. (b) At December 31, 2014 and 2013, bonds available for sale held by us that were below investment grade or not rated totaled $35.1 billion and $32.6 billion, respectively. |
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| The fair value and gross unrealized losses on AIG's available for sale securities, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position |
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| The amortized cost and fair value of fixed maturity securities available for sale by contractual maturity |
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| The gross realized gains and gross realized losses from sales of AIG's available for sale securities |
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| The fair value of AIG's other securities |
(a) Includes $0.9 billion and $1.0 billion of U.S. Government agency backed ABS at December 31, 2014 and 2013, respectively. |
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| Components of other invested assets |
(a) Includes hedge funds, private equity funds, affordable housing partnerships, and other investment partnerships. (b) Net of accumulated depreciation of $315 million and $513 million in 2014 and 2013, respectively. (c) Consists primarily of investments in aircraft equipment held in consolidated trusts. |
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| The carrying value and ownership percentage of AIA and equity method investments |
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| Schedule of information regarding investments in life settlements |
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| Components of net investment income |
* Includes hedge funds, private equity funds, affordable housing partnerships, investments in life settlements and other investment partnerships. |
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| Components of net realized capital gains (losses) |
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| Schedule of increase (decrease) in unrealized appreciation (depreciation) of available for sale securities and other investments |
* Excludes net unrealized gains attributable to businesses held for sale. |
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| Credit impairments recognized in earnings for available for sale fixed maturity securities |
* Represents both accretion recognized due to changes in cash flows expected to be collected over the remaining expected term of the credit impaired securities and the accretion due to the passage of time. |
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| Schedule of Purchased Credit Impaired (PCI) Securities, at acquisition date |
* Represents undiscounted expected cash flows, including both principal and interest. |
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| Schedule of Purchased Credit Impaired (PCI) Securities, at reporting date |
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| Activity for accretable yield on Purchased Credit Impaired (PCI) Securities |
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| Schedule of fair value of securities pledged to counterparties under secured financing transactions |
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| Schedule of fair value of securities pledged to the entity under reverse repurchase agreements |
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| Investment [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summarized financial information of AIG's equity method investees |
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| X | ||||||||||
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- Definition
Tabular disclosure of summarized financial information for investments accounted for using the equity method of accounting. No definition available.
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| X | ||||||||||
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- Definition
This item represents the disclosure related to net realized gains or losses on investments during the period of Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities categorized according to their contractual maturity. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the fair value and gross unrealized loss of the entity's fixed maturity and equity securities in an unrealized loss position, aggregated by major investment category and by length of time that the securities have been in a continuous unrealized loss position. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the reconciliation of available-for-sale securities, private equity and hedge fund investments from cost basis to fair value. No definition available.
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| X | ||||||||||
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- Definition
Tabular rollforward of accretable yield on purchased credit impaired (PCI) securities. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of purchased credit impaired (PCI) securities which had experienced deterioration in credit quality since their origination. The disclosure includes contractually required payments, cash flows expected to be collected, and recorded investments in acquired securities at the acquisition date. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of purchased credit impaired (PCI) securities which had experienced deterioration in credit quality since their origination. The disclosure the outstanding principal balance, amortized cost and fair value of the PCI securities at the reporting date. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of investment income, including unrealized gains and trading gains, net of investment expenses. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
A table of investments, shown as a text block. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of realized gains and losses on investments reported in the statement of income. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of financial instruments held by the entity for its own account for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Description may include equity, fixed income, debt or other securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of life settlement contracts based on the remaining life expectancy for each of the first five succeeding years from the date of the statement of financial position and thereafter, as well as in the aggregate including: (a) the number of life settlement contracts, (b) the carrying value of the life settlement contracts, and (c) the face value (death benefits) of the life insurance policies underlying the contracts, and (d) the life insurance premiums anticipated to be paid for each of the five succeeding fiscal years to keep the life settlement contracts in force as of the date of the most recent statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of securities financing transactions including resale and repurchase agreements, securities borrowed and lending transactions, securities received as collateral and obligations to return securities received as collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of investments in trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of unrealized gains and losses on investments. No definition available.
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LENDING ACTIVITIES (Tables)
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Dec. 31, 2014
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| LENDING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Composition of Mortgages and other loans receivable |
* Commercial mortgages primarily represent loans for apartments, offices, retail and industrial properties, with exposures in California and New York representing the largest geographic concentrations (14 percent and 18 percent, respectively, at December 31, 2014 and 18 percent and 17 percent, respectively, at December 31, 2013). |
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| Schedule of credit quality indicators for the commercial mortgage loans |
(a) Loans that have been modified in troubled debt restructurings and are performing according to their restructured terms. See discussion of troubled debt restructurings below. (b) Does not reflect allowance for losses. (c) Over 99 percent of the commercial mortgages held at such respective dates were current as to payments of principal and interest. |
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| Schedule of changes in the allowance for losses on Mortgage and other loans receivable |
* Of the total allowance at the end of the year, $55 million and $93 million relates to individually assessed credit losses on $192 million and $264 million of commercial mortgage loans as of December 31, 2014 and 2013, respectively. |
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| X | ||||||||||
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- Definition
Tabular disclosure of commercial mortgage loans by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the activity in the total allowance for credit losses related to financing receivables (such as loans or lease receivables) for entities that have an unclassified balance sheet, including the balance in the allowance at the beginning and end of each period, additions charged to operations, direct write-downs charged against the allowance, and recoveries of amounts previously charged off. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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REINSURANCE (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| Effects of Reinsurance [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental information for gross loss and benefit reserves net of ceded reinsurance |
(a) In 2014 and 2013, the Net of Reinsurance amount reflects the cession under the June 17, 2011 transaction with National Indemnity Company (NICO) of $1.5 billion and $1.6 billion, respectively. (b) Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses. |
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| Schedule of long-duration insurance in force ceded to other insurance companies |
* Excludes amounts related to held-for-sale entities. |
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Short-Duration Reinsurance
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| Effects of Reinsurance [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of insurance premiums written and earned |
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Long-Duration Reinsurance
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| Effects of Reinsurance [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of insurance premiums written and earned |
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| X | ||||||||||
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- Definition
Tabular disclosure of effect of reinsurance on insurance reserves. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of life insurance in force ceded to other insurance companies. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DEFERRED POLICY ACQUISITION COSTS (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| DEFERRED POLICY ACQUISITION COSTS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rollforward of DAC |
* Net of reductions in DAC of $1.4 billion, $1.1 billion, and $1.8 billion for Life Insurance Companies at December 31, 2014, 2013 and 2012, respectively, related to the effect of net unrealized gains and losses on available for sale securities (shadow DAC). |
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the movement in deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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VARIABLE INTEREST ENTITIES (Tables)
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Dec. 31, 2014
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| VARIABLE INTEREST ENTITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Consolidated Variable Interest Entities |
(a) Comprised primarily of Short-term investments, Premiums and other receivables and Other assets at both December 31, 2014 and 2013. (b) The assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other liabilities and Derivative liabilities, at fair value, at both December 31, 2014 and 2013. (d) At December 31, 2014 and 2013, off-balance sheet exposure primarily consisting of commitments to real estate and investment entities was $56.4 million and $50.8 million, respectively. |
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| Schedule of Unconsolidated Variable Interest Entities |
* At December 31, 2014 and 2013, $3.2 billion and $2.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets. |
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- Definition
Disclosure of the assets, liabilities and off-balance sheet exposure of variable interest entities that are consolidated in the entity's financial statements. No definition available.
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| X | ||||||||||
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- Definition
Disclosure of assets and maximum exposure to loss (including that recorded on the balance sheet and that which is not recorded) for variable interest entities that are not consolidated in the entity's financial statements. No definition available.
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| X | ||||||||||
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- Details
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DERIVATIVES AND HEDGE ACCOUNTING (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| DERIVATIVES AND HEDGE ACCOUNTING | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notional amounts and fair values of derivative instruments |
(a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b) There were no derivative assets or notionals related to bifurcated embedded derivatives at December 31, 2014. Notional amount of derivative assets and fair value of derivative assets include $23.2 billion and $107 million at December 31, 2013 related to bifurcated embedded derivatives. Notional amount of derivative liabilities and fair values of derivative liabilities include $39.3 billion and $1.5 billion, respectively, at December 31, 2014 and $6.7 billion and $424 million, respectively at December 31, 2013 related to bifurcated embedded derivatives. A bifurcated embedded derivative is generally presented with the host contract in the Consolidated Balance Sheets. (c) Consists primarily of contracts with multiple underlying exposures. |
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| Fair values of derivative assets and liabilities in the Consolidated Balance Sheets |
(a) Represents derivatives used to hedge the foreign currency and interest rate risk associated with insurance as well as embedded derivatives included in insurance contracts. Assets and liabilities include bifurcated embedded derivatives, which are recorded in Policyholder contract deposits. (b) Represents netting of derivative exposures covered by a qualifying master netting agreement. (c) Represents cash collateral posted and received that is eligible for netting. |
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| Gain (loss) recognized in earnings on AIG's derivative instruments in fair value hedging relationships in the Consolidated Statements of Income |
(a) The amounts presented do not include the periodic net coupon settlements of the derivative contract or the coupon income (expense) related to the hedged item. (b) Represents accretion/amortization of opening fair value of the hedged item at inception of hedge relationship, amortization of basis adjustment on hedged item following the discontinuation of hedge accounting, and the release of debt basis adjustment following the repurchase of issued debt that was part of previously-discontinued fair value hedge relationship. |
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| Effect of AIG's derivative instruments in cash flow hedging relationships in the Consolidated Statement of Income |
(a) Hedge accounting was discontinued in December 2012 in connection with ILFC being classified as held-for-sale. Gains and losses recognized in earnings are recorded in Income from continuing operations. Previously the effective portion of the change in fair value of a derivative qualifying as a cash flow hedge was recorded in Accumulated other comprehensive income until earnings were affected by the variability of cash flows in the hedged item. Gains and losses reclassified from Accumulated other comprehensive income were previously recorded in Other income. Gains or losses recognized in earnings on derivatives for the ineffective portion were previously recorded in Net realized capital gains (losses). (b) Includes $19 million for the year ended December 2012, representing the reclassification from Accumulated other comprehensive income into earnings following the discontinuation of cash flow hedges of ILFC debt. |
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| Effect of AIG's derivative instruments not designated as hedging instruments in the Consolidated Statements of Income |
(a) Includes cross currency swaps. (b) Includes embedded derivative gains (losses) of $(837) million, $1.2 billion and $(170) million for the years ended December 31, 2014, 2013 and 2012, respectively. |
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| Net notional amount, fair value of derivative (asset) liability and unrealized market valuation gain (loss) |
(a) During 2014, we paid $67 million to counterparties with respect to multi-sector CDOs, which was previously included in the fair value of the derivative liability as an unrealized market valuation loss. Collateral postings with regards to multi-sector CDOs were $852 million and $1.1 billion at December 31, 2014 and 2013, respectively. (b) Corporate debt/Collateralized Loan Obligations (CLOs) include $555 million and $1.0 billion in net notional amount of credit default swaps written on the super senior tranches of CLOs at December 31, 2014 and 2013, respectively. Collateral postings with regards to corporate debt/CLOs were $147 million and $353 million at December 31, 2014 and 2013, respectively. (c) On July 17, 2014, AIGFP terminated Corporate Debt Super Senior CDSs with a notional amount of $8.8 billion. |
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of credit derivatives which includes information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, but not limited to, a credit-linked note). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
GOODWILL (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| Goodwill Disclosure | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of changes in goodwill by reportable segment |
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
INSURANCE LIABILITIES (Tables)
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Dec. 31, 2014
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| LIABILITY FOR UNPAID CLAIMS AND CLAIMS ADJUSTMENT EXPENSE, FUTURE POLICY BENEFITS FOR LIFE AND ACCIDENT AND HEALTH INSURANCE CONTRACTS, AND POLICYHOLDER CONTRACT DEPOSITS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of reconciliation of activity in the liability for unpaid claims and claims adjustment expense |
(a) For the 2012 amounts, $847 million was reclassified from "Foreign exchange effect" to "Losses and loss adjustment expenses paid (current year)". The impact of this reclassification was a decrease of $847 million for foreign exchange and loss expenses paid (current year), with no income statement or balance sheet impact. (b) In 2014, included $545 million, $381 million, $(195) million, $135 million and $109 million related to primary casualty, environmental and asbestos, natural catastrophes, financial lines and healthcare, respectively. In 2013, included $(144) million, $269 million, $498 million and $(54) million related to excess casualty, environmental and pollution, primary casualty and healthcare, respectively. In 2012, includes $157 million, $200 million, $531 million and $68 million related to excess casualty, environmental and pollution, primary casualty and healthcare, respectively. (c) Includes amounts related to dispositions through the date of disposition. |
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| Schedule of Policyholder contract deposits by product type |
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- Definition
Tabular disclosure of liability as of the balance sheet date to the policyholders for deposits held under the terms of insurance contracts. No definition available.
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- Details
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- Definition
Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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VARIABLE LIFE AND ANNUITY CONTRACTS (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| VARIABLE LIFE AND ANNUITY CONTRACTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Account balances of variable annuity contracts with guarantees were invested in separate account investment |
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| Schedule of details concerning entity's GMDB exposures, by benefit type |
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| Schedule of changes in GMDB and GMIB liabilities for guarantees on variable contracts reflected in the general account |
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- Details
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- Definition
Tabular disclosure of the fair value of assets, by major investment asset category, supporting separate accounts with additional insurance benefits and minimum investment return guarantees as of each date for which a statement of financial position is presented. The taxonomy for investment disclosures is utilized to tag elements that represent more detailed breakdowns of the major investment categories specified in reporting regulations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of minimum guaranteed benefits to policyholders and contract holders, such as guaranteed minimum death benefit, guaranteed minimum income benefit, and guaranteed annuitization benefits, discloses the amount of liability reported for additional insurance benefits, annuitization benefits and other minimum guarantees, by type of benefit, for the most recent balance sheet date and the incurred and paid amounts for periods presented for traditional and nontraditional products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the guaranteed benefits in excess of the current account balance, quantifies such excesses (the net amounts at risk) and includes other relevant, pertinent information as of the most recent balance sheet date by product type. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DEBT (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| DEBT | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of total debt outstanding |
(a) AIG Parent guarantees all DIB debt, except for MIP notes payable and Series AIGFP matched notes and bonds payable, which are direct obligations of AIG Parent. (b) At December 31, 2014, includes debt of consolidated investments held through AIG Global Real Estate Investment Corp., AIG Credit Corp., AIGLH and AIG Property Casualty Inc. of $2.0 billion, $54 million, $1.5 billion and $122 million, respectively. At December 31, 2013, includes debt of consolidated investments held through AIG Global Real Estate Investment Corp., AIG Credit Corp., AIGLH and AIG Property Casualty Inc. of $1.5 billion, $111 million, $696 million and $58 million, respectively. (c) At December 31, 2013, excludes $21.4 billion related to ILFC as it is classified as a held-for-sale business. |
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| Maturities of long-term debt, excluding borrowings of debt of consolidated investments |
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| Schedule of detail for uncollateralized and collateralized notes, bonds, loans and mortgages payable |
* AIG does not guarantee any of these borrowings. |
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| Summary of the Four-Year Facility |
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- Definition
Tabular disclosure that presents detail for the entity's Notes, Bonds, Loans and Mortgages payable. No definition available.
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- Details
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- Definition
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONTINGENCIES, COMMITMENTS AND GUARANTEES (Tables)
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Dec. 31, 2014
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| CONTINGENCIES, COMMITMENTS AND GUARANTEES | |||||||||||||||||||||||||
| Future minimum lease payments under operating leases |
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- Details
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- Definition
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EQUITY (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rollforward of common stock outstanding |
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| Summarizes information of public offerings of common stock by Department of the Treasury, as selling shareholder |
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| Accumulated Other Comprehensive Income (Loss) |
* The adjustment to policyholder benefit reserves assumes that the unrealized appreciation on available for sale securities is actually realized and that the proceeds are reinvested at lower yields. |
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| Other comprehensive income (loss) reclassification adjustments |
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| Schedule of effect of the reclassification of significant items out of Accumulated other comprehensive income on the respective line items in the Consolidated Statements of Income |
* These Accumulated other comprehensive income components are included in the computation of net periodic pension cost. See Note 22 to the Consolidated Financial Statements. |
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- Definition
Tabular disclosure of the components of other comprehensive income (loss) reclassification adjustments. No definition available.
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- Definition
Represents the sale of common stock of an entity by the Department of the Treasury in public offerings and the repurchase of common stock by the same entity in such offerings. No definition available.
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- Definition
Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). No definition available.
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- Definition
Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NONCONTROLLING INTERESTS (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| NONCONTROLLING INTERESTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rollforward of noncontrolling interests |
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- Definition
A reconciliation of the beginning and ending balance of redeemable noncontrolling interests and non-redeemable noncontrolling interests. No definition available.
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| X | ||||||||||
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- Details
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EARNINGS PER SHARE (EPS) (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| EARNINGS PER SHARE (EPS) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Computation of basic and diluted EPS |
* Dilutive shares primarily result from share-based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of the recapitalization in January 2011. The number of shares excluded from diluted shares outstanding were 0.3 million, 38 million and 78 million for the years ended December 31, 2014, 2013 and 2012, respectively, because the effect of including those shares in the calculation would have been anti-dilutive. |
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- Details
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- Definition
Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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STATUTORY FINANCIAL DATA AND RESTRICTIONS (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| STATUTORY FINANCIAL DATA AND RESTRICTIONS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of statutory capital and surplus and net income (loss) for AIG property casualty and AIG life and retirement operations in accordance with statutory accounting practices |
(a) Excludes discontinued operations and other divested businesses. Statutory capital and surplus and net income (loss) with respect to foreign operations are as of November 30. (b) Non-Life Insurance Companies did not recognize material statutory gains related to legal entity simplification (restructuring) in 2014. Non-Life Insurance Companies include approximately $8.0 billion of recognized statutory gains related to legal entity simplification (restructuring) in 2013. These recognized gains were largely offset by reductions in unrealized gains; therefore, there was no material impact to total surplus. (c) In aggregate, the 2013 Non-Life Insurance Companies and Life Insurance Companies statutory net income (loss) and statutory capital and surplus amounts increased by $1.1 billion and $557 million, respectively, compared to the amounts previously reported in our Annual Report on Form 10-K for the year ended December 31, 2013, due to finalization of statutory filings. |
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- Details
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- Definition
Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SHARE-BASED AND OTHER COMPENSATION PLANS (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| SHARE-BASED AND OTHER COMPENSATION PLANS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of share-based compensation expense recognized in Consolidated Statements of Income |
* For the years ended December 31, 2014, 2013 and 2012, $86 million, $315 million and $286 million of pre-tax compensation expense was attributed to unsettled liability-classified awards, the values of which are based on our share price at the reporting date. Our share price was $56.01, $51.05 and $35.30 at December 31, 2014, 2013 and 2012, respectively. In addition, we recognized $120 million and $101 million for immediately vested stock-settled awards issued to retirement eligible employees in 2014 and 2013, respectively. |
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| Schedule of assumptions used to estimate the fair value of PSUs based on AIG's TSR |
(a) The dividend yield is the projected annualized AIG dividend yield estimated by Bloomberg Professional service as of the valuation date. (b) The expected volatility is based on the implied volatilities of actively traded stock options from the valuation date through the end of the PSU performance period as estimated by Bloomberg Professional service. (c) The risk-free interest rate is the continuously compounded interest rate for the term between the valuation date and the end of the performance period that is assumed to be constant and equal to the interpolated value between the closest data points on the U.S. dollar LIBOR-swap curve as of the valuation date |
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| Summary of outstanding share-settled awards |
(a) Excludes DSUs and options, which are discussed under the Non-Employee Plans and Stock Options sections, respectively. (b) Represents target number of PSUs granted, and does not reflect potential increases or decreases that could result from the final outcome of the performance goals to be determined after the applicable performance period ends. |
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| Schedule of stock option activity |
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| Summary of SARs (based on target amounts) and cash-settled RSUs (excluding stock salary) including the related expenses |
(a) Total unrecognized compensation and the weighted-average period for which it will be recognized is $3 million and 0.55 year, respectively. (b) Total unrecognized compensation and the weighted-average period for which it will be recognized is $13 million and 0.61 year, respectively. (c) Also includes SARs for which vesting was accelerated for employees who became retirement eligible or were deceased. (d) The ending balance represents awards granted under the 2011 LTIP that vested on January 1, 2015 and were automatically exercised. The value of a SAR as of December 31, 2014 was determined based on the excess of the fair value (as defined) of one share of AIG Common Stock over the strike price of $37.40; the fair value was $55.29 based on the average of the closing sale prices on each trading day during the month of December 2014 in accordance with the plan provisions. No SARs are outstanding after January 1, 2015. |
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- Definition
Tabular disclosure of the changes in outstanding nonvested SARs and cash-settled RSUs as well as the related expenses. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the significant assumptions used during the year to estimate the fair value of performance share unit , including, but not limited to: (a) expected term of awards and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, and (d) risk-free rate(s). No definition available.
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- Definition
Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the changes in outstanding nonvested shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EMPLOYEE BENEFITS (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of funded status of the plans reconciled to the amount reported in the balance sheets |
(a) We do not currently fund postretirement benefits. (b) Includes non-qualified unfunded plans of which the aggregate projected benefit obligation was $325 million and $276 million for the U.S. and $295 million and $265 million for the non-U.S. at December 31, 2014 and 2013, respectively. |
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| Schedule of components of net periodic benefit cost |
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| Schedule of weighted average assumptions used to determine the benefit obligations |
* The non-U.S. plans reflect those assumptions that were most appropriate for the local economic environments of each of the subsidiaries providing such benefits. |
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| Schedule of weighted average assumptions used to determine the net periodic benefit costs |
* The non-U.S. plans reflect those assumptions that were most appropriate for the local economic environments of the subsidiaries providing such benefits. |
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| Schedule of plan assets based on the level within the fair value hierarchy in which the fair value measurement falls |
(a) Includes index funds that primarily track several indices including S&P 500 and S&P Small Cap 600 as well as other actively managed accounts composed of investments in large cap companies. (b) Includes investments in companies in emerging and developed markets. (c) Represents investments in U.S. and non-U.S. government issued bonds, U.S. government agency or sponsored agency bonds, and investment grade corporate bonds. (d) Consists primarily of investments in securities or debt obligations that have a rating below investment grade. (e) Comprised primarily of investments in U.S. government agency or U.S. government sponsored agency bonds. (f) Includes funds composed of macro, event driven, long/short equity, and controlled risk hedge fund strategies and a separately managed controlled risk strategy. (g) Includes funds that are diverse by geography, investment strategy, sector and vintage year. |
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| Schedule of changes in Level 3 plan assets measured at fair value |
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| Schedule of expected future benefit payments, net of participants' contributions |
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Pensions
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| Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of accumulated benefit obligations |
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| Schedule of projected benefit obligation in excess of the plan assets and the accumulated benefit obligation in excess of the plan assets |
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U.S. Pension Plans
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| Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of asset allocation percentage by major asset class and target allocation |
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Non U.S. Pension Plans
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| Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of asset allocation percentage by major asset class and target allocation |
|
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|
Postretirement Plans
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| Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of A one percent point change in the assumed healthcare cost trend rate |
|
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U.S. Postretirement Plans
|
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| Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of assumed health care cost trend rates |
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of the assumptions used to determine the pension plan benefit obligation, including assumed discount rates, and increases in compensation rates. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the assumptions used to determine the pension net benefit cost, including assumed discount rates, increases in compensation rates, and the expected long-term rates of return on plan assets. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of benefit obligations and accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the benefit obligation and accumulated benefit obligation exceeds the fair value of plan assets. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the asset allocation percentage by major asset class and the target allocation of defined benefit plan assets. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the components of net benefit costs and amounts recognized in accumulated other comprehensive income (loss) for pension plans. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the funded status of the plans, reconciled to the amount reported in the balance sheet. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of benefit obligations including accumulated benefit obligation and projected benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the effect of a one-percentage-point increase and the effect of a one-percentage-point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs and the accumulated postretirement benefit obligation for health care benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INCOME TAXES (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
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| INCOME TAXES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of income (loss) from continuing operations before income tax expense (benefit) by U.S. and foreign location |
|
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| Schedule of income tax expense (benefit) attributable to pre-tax income (loss) from continuing operations |
|
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| Schedule of reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate |
|
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| Schedule of components of the net deferred tax asset |
|
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| Schedule of consolidated income tax group tax losses and credits carryforwards |
|
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| Schedule of net deferred tax assets (liabilities) |
|
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| Schedule of reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits |
|
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| Schedule of tax years that remain subject to examination by major tax jurisdictions |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
A description of tax years that remain subject to examination by major tax jurisdictions. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including current tax expense (benefit) and deferred tax expense (benefit) split between domestic and foreign jurisdictions. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the deferred tax asset or liability recognized by the entity on a jurisdictional basis, including the impact to other comprehensive income and valuation allowance. The jurisdictional basis is comprised of U.S. domestic and a combined foreign, state and local presentation. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; and (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of net operating losses and after tax attributes on a gross and tax effected basis, as determined under U.S. federal income tax laws. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of income before income tax between domestic and foreign jurisdictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consolidated Statements of Income (Loss) |
* Net income attributable to AIG for the three-month period ended December 31, 2013 includes $327 million of net charges primarily related to income taxes to correct prior 2013 quarters presented. Such amounts are not material to any period presented. |
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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| INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Consolidating Balance Sheets |
(a) Includes intercompany derivative positions, which are reported at fair value before credit valuation adjustment. (b) Eliminated in consolidation. (c) For December 31, 2014 and 2013, includes intercompany tax payable of $0.3 billion and $1.4 billion, respectively, and intercompany derivative liabilities of $275 million and $249 million, respectively, for American International Group, Inc. (As Guarantor) and intercompany tax receivable of $3 million and $98 million, respectively, for AIGLH. |
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| Condensed Consolidating Statements of Income (Loss) |
* Eliminated in consolidation. |
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| Condensed Consolidating Statements of Comprehensive Income (Loss) |
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| Condensed Consolidating Statements of Cash Flows |
* |
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| Supplementary Disclosure of Condensed Consolidating Cash Flow Information |
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| Supplementary disclosure of non-cash activities |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of supplementary cash flow information for the periods presented. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure that encapsulates the detailed table comprising the condensed consolidating statement of comprehensive income (loss). No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of all or some of the information related to other significant noncash investing and financing activities that occurred during the accounting period and are not otherwise listed in the existing taxonomy. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of a transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
BASIS OF PRESENTATION (Details) (USD $)
In Billions, except Share data in Millions, unless otherwise specified |
12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
May 14, 2014
ILFC
|
Dec. 31, 2014
Maximum
|
Dec. 31, 2014
Minimum
item
|
May 14, 2014
ILFC
|
May 14, 2014
AerCap
|
May 13, 2014
AerCap
|
Dec. 31, 2014
AerCap
ILFC
|
|
| Basis of Presentation [Line Items] | ||||||||||
| Number of Countries in which the entity operates | 100 | |||||||||
| Common stock, par value (in dollars per share) | $ 2.5 | $ 2.5 | ||||||||
| Percentage ownership of voting rights of a variable interest entities | 50.00% | |||||||||
| Percentage of common stock agreed to be sold | 100.00% | |||||||||
| Consideration in cash | $ 7.6 | |||||||||
| Percentage of common stock held after closing of transaction | 100.00% | 46.00% | ||||||||
| Closing price per share (in dollars per share) | $ 56.01 | $ 51.05 | $ 35.3 | $ 47.01 | ||||||
| Number of shares received | 97.6 | |||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For disposal group including discontinued operations, represents the percentage of common stock agreed to be sold. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of shares of stock of the acquirer received as noncash consideration for the disposal of a disposal group. No definition available.
|
| X | ||||||||||
|
- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of countries in which the entity operates as of balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of subsidiary's or equity method investee's stock owned by parent immediately after all stock transactions. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of the Variable Interest Entity's (VIE) voting interest owned by (or beneficial interest in) the reporting entity (directly or indirectly). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Other significant accounting policies) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Summary of Significant Accounting Policies [Line Items] | |||
| Earning pattern of a quota share reinsurance contract | 24 months | ||
| Other income | |||
| Proceeds from legal settlements | $ 804 | $ 1,200 | $ 200 |
| Premiums and other receivables | |||
| Allowance for doubtful accounts on premiums and other receivables | $ 428 | $ 554 | |
| X | ||||||||||
|
- Definition
The maximum number of months premiums are earned on a quota share reinsurance contract. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The valuation allowance as of the balance sheet date to reduce the gross amount of receivables to estimated net realizable value, which would be presented in parentheses on the face of the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Cash received for the settlement of litigation during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Other Assets and PPE) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Other assets | |||
| Deferred bonus interest and deferred sales inducement assets | $ 629 | $ 703 | |
| Amortization expense associated with deferred bonus interest and deferred sales inducement assets | $ 63 | $ 102 | $ 162 |
|
Buildings | Maximum
|
|||
| Property, Plant and Equipment [Line Items] | |||
| Estimated useful life | 40 years | ||
|
Furniture and equipment | Maximum
|
|||
| Property, Plant and Equipment [Line Items] | |||
| Estimated useful life | 10 years | ||
|
Software Development | Maximum
|
|||
| Property, Plant and Equipment [Line Items] | |||
| Estimated useful life | 5 years | ||
| X | ||||||||||
|
- Definition
Represents the unamortized amount of deferred bonus interest and deferred sales inducement assets. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amortization expense recognized in the current period that reflects the allocation of capitalized costs associated with deferred bonus interest and deferred sales inducement assets. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
SEGMENT INFORMATION (Details - Consolidated operations and long-lived assets by major geographic area) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total Revenues | $ 64,406 | $ 68,874 | $ 71,214 |
| Real Estate and Other Fixed Assets, Net of Accumulated Depreciation | 2,700 | 2,315 | 2,213 |
|
U.S.
|
|||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total Revenues | 44,274 | 46,078 | 47,406 |
| Real Estate and Other Fixed Assets, Net of Accumulated Depreciation | 1,886 | 1,606 | 1,391 |
|
Asia Pacific
|
|||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total Revenues | 7,523 | 8,804 | 9,498 |
| Real Estate and Other Fixed Assets, Net of Accumulated Depreciation | 521 | 448 | 516 |
|
Other Foreign
|
|||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total Revenues | 12,609 | 13,992 | 14,310 |
| Real Estate and Other Fixed Assets, Net of Accumulated Depreciation | $ 293 | $ 261 | $ 306 |
| X | ||||||||||
|
- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the amount of accrued losses on assets held for sale, at the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the sum of the carrying value of all the Assets Held-for-Sale at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Current assets (normally turning over within one year or one business cycle if longer) that are held for sale apart from normal operations and anticipated to be sold within one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of equity securities categorized neither as held-to-maturity nor as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount of long-lived, depreciable flight assets used in the entity's principle business operations, including owned aircraft and on capital lease, as well as capitalized improvements. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Liability (such as a mortgage) related to a disposal group that is held for sale and anticipated to be sold in less than one year. The liability is expected to be discharged as part of the plan of sale for the asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, net of allowance for doubtful accounts, of all premiums and other types of receivables due from other persons or entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
HELD-FOR-SALE CLASSIFICATION, DIVESTED BUSINESSES AND DISCONTINUED OPERATIONS (Details - International Lease Finance Corporation) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified |
12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
May 14, 2014
AerCap
|
Dec. 31, 2014
AerCap
|
May 13, 2014
AerCap
|
May 14, 2014
International Lease Finance Corporation (ILFC)
|
Dec. 31, 2014
International Lease Finance Corporation (ILFC)
|
May 14, 2014
International Lease Finance Corporation (ILFC)
|
Dec. 31, 2014
International Lease Finance Corporation (ILFC)
AerCap
|
Dec. 31, 2014
ALICO
MetLife Inc. (MetLife)
|
Dec. 31, 2013
ALICO
MetLife Inc. (MetLife)
|
Dec. 31, 2012
ALICO
MetLife Inc. (MetLife)
|
|
| International Lease Finance Corporation | |||||||||||||
| Percentage of common stock agreed to be sold | 100.00% | ||||||||||||
| Consideration in cash | $ 7,600,000,000 | ||||||||||||
| Number of shares received | 97.6 | ||||||||||||
| Aggregate stated value of consideration | 4,600,000,000 | ||||||||||||
| Closing price per share (in dollars per share) | $ 56.01 | $ 51.05 | $ 35.3 | $ 47.01 | |||||||||
| Aggregate commitment under revolving credit facility | 1,000,000,000 | ||||||||||||
| Percentage of common stock held after closing of transaction | 100.00% | 46.00% | |||||||||||
| Proceeds from divested businesses, net | 2,348,000,000 | 2,400,000,000 | |||||||||||
| Pre-tax gain (loss) on discontinued operations | 2,200,000,000 | 23,000,000 | 150,000,000 | 1,000,000 | |||||||||
| After-tax gain on sale of business | 1,400,000,000 | ||||||||||||
| Difference between carrying amount and equity AerCap | 1,400,000,000 | ||||||||||||
| Difference between carrying amount and equity of AerCap amortized into income based on estimated lives of assets and liabilities | $ 400,000,000 | ||||||||||||
| X | ||||||||||
|
- Definition
Represents the aggregate commitment under revolving credit facility issued by the entity to the borrower. No definition available.
|
| X | ||||||||||
|
- Definition
For disposal group including discontinued operations, represents the percentage of common stock agreed to be sold. No definition available.
|
| X | ||||||||||
|
- Definition
Difference between amount at which an investment accounted for under the equity method of accounting is carried (reported) on the balance sheet and amount of underlying equity in net assets the reporting Entity has in the investee. No definition available.
|
| X | ||||||||||
|
- Definition
Difference between amount at which an investment accounted for under the equity method of accounting is carried (reported) on the balance sheet and amount of underlying equity in net assets the reporting Entity has in the investee that is amortized into income based on estimated lives of assets and liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of shares of stock of the acquirer received as noncash consideration for the disposal of a disposal group. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of gain (loss), before tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of noncash consideration received for selling an asset or business through a noncash (or part noncash) transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the cash inflow during the period from the sale of a component of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of subsidiary's or equity method investee's stock owned by parent immediately after all stock transactions. No definition available.
|
|
HELD-FOR-SALE CLASSIFICATION, DIVESTED BUSINESSES AND DISCONTINUED OPERATIONS (Details - Income (loss) from divested businesses or discontinued operations) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Sep. 30, 2014
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Income (loss) from divested businesses or discontinued operations: | |||||||||||
| Income (loss) from discontinued operations | $ (35) | $ 2 | $ 30 | $ (47) | $ 11 | $ (18) | $ 18 | $ 73 | $ (50) | $ 84 | $ 1 |
|
ALICO [Member] | Met Life Inc [Member]
|
|||||||||||
| Income (loss) from divested businesses or discontinued operations: | |||||||||||
| Gain (loss) on sale | 23 | 150 | 1 | ||||||||
| Income (loss) from discontinued operations, before tax expense (benefit) | 23 | 150 | 1 | ||||||||
| Income tax expense (benefit) | 73 | 66 | 0 | ||||||||
| Income (loss) from discontinued operations | $ (50) | $ 84 | $ 1 | ||||||||
| X | ||||||||||
|
- Definition
Amount of gain (loss), before tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Overall income (loss) from a disposal group that is classified as a component of the entity, before income tax, reported as a separate component of income before extraordinary items. Includes the following (before income tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
FAIR VALUE MEASUREMENTS (Details - Super Senior Credit Default Swap Portfolio) (Borrowings supported by assets, GIAs)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2014
|
|
|
Borrowings supported by assets | GIAs
|
|
| Debt Instrument [Line Items] | |
| Range of guaranteed minimum return rates (as a percent) | 8.50% |
| X | ||||||||||
|
- Definition
Maximum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amounts of transfers of assets measured on a recurring basis out of Level 1 of the fair value hierarchy into Level 2. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity. The fair value of investments not otherwise specified in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity. The fair value of mortgage loans on real estate, policy loans and collateral, commercial and guaranteed loans. Mortgage loans on real estate and collateral, commercial and guaranteed loans are carried at unpaid principal balances less credit allowances and plus or minus adjustments for the accretion or amortization of discount or premium. Policy loans are carried at unpaid principal amount. There is no allowance for policy loans because these loans serve to reduce the death benefit paid when the death claim is made and the balances are effectively collateralized by the cash surrender value of the policy. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity. The fair value of the liability as of the balance sheet date to the policyholders for deposits held under the terms of insurance contracts. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity. The fair value of other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity. The fair value of the liability as of the balance sheet date to the policyholders for deposits held under the terms of insurance contracts. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a recurring basis by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of equity securities categorized neither as held-to-maturity nor as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of transfers of assets measured on a recurring basis out of Level 2 of the fair value hierarchy into Level 1. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of financial and nonfinancial obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value portion of other assets. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value portion of other liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the assets held by the Entity for the benefit of separate account policyholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of investments in debt securities classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of investments in trading equity securities and other forms of trading securities that provide ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
FAIR VALUE MEASUREMENTS (Details - Changes in Level 3 Recurring Fair Value Measurements) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2014
Trading Revenue
|
Dec. 31, 2013
Trading Revenue
|
Dec. 31, 2014
Liabilities
|
Dec. 31, 2013
Liabilities
|
Dec. 31, 2014
Liabilities
Trading Revenue
|
Dec. 31, 2013
Liabilities
Trading Revenue
|
Dec. 31, 2014
Policyholder contract deposits
|
Dec. 31, 2013
Policyholder contract deposits
|
Dec. 31, 2014
Policyholder contract deposits
Trading Revenue
|
Dec. 31, 2013
Policyholder contract deposits
Trading Revenue
|
Dec. 31, 2014
Derivative liabilities, net
|
Dec. 31, 2013
Derivative liabilities, net
|
Dec. 31, 2014
Derivative liabilities, net
Trading Revenue
|
Dec. 31, 2013
Derivative liabilities, net
Trading Revenue
|
Dec. 31, 2014
Interest rate contracts
|
Dec. 31, 2013
Interest rate contracts
|
Dec. 31, 2014
Interest rate contracts
Trading Revenue
|
Dec. 31, 2013
Interest rate contracts
Trading Revenue
|
Dec. 31, 2014
Foreign exchange contracts
|
Dec. 31, 2014
Foreign exchange contracts
Trading Revenue
|
Dec. 31, 2014
Equity contracts
|
Dec. 31, 2013
Equity contracts
|
Dec. 31, 2014
Equity contracts
Trading Revenue
|
Dec. 31, 2013
Equity contracts
Trading Revenue
|
Dec. 31, 2014
Commodity contracts
|
Dec. 31, 2012
Commodity contracts
|
Dec. 31, 2014
Commodity contracts
Trading Revenue
|
Dec. 31, 2013
Commodity contracts
Trading Revenue
|
Dec. 31, 2014
Credit contracts
|
Dec. 31, 2013
Credit contracts
|
Dec. 31, 2014
Credit contracts
Trading Revenue
|
Dec. 31, 2013
Credit contracts
Trading Revenue
|
Dec. 31, 2014
Other contracts
|
Dec. 31, 2013
Other contracts
|
Dec. 31, 2014
Other contracts
Trading Revenue
|
Dec. 31, 2013
Other contracts
Trading Revenue
|
Dec. 31, 2014
Long-term debt
|
Dec. 31, 2013
Long-term debt
|
Dec. 31, 2014
Long-term debt
Trading Revenue
|
Dec. 31, 2013
Long-term debt
Trading Revenue
|
Dec. 31, 2014
Bonds available for sale
|
Dec. 31, 2013
Bonds available for sale
|
Dec. 31, 2014
Bonds available for sale
Obligations of states, municipalities and political subdivisions
|
Dec. 31, 2013
Bonds available for sale
Obligations of states, municipalities and political subdivisions
|
Dec. 31, 2014
Bonds available for sale
Non-U.S. government
|
Dec. 31, 2013
Bonds available for sale
Non-U.S. government
|
Dec. 31, 2014
Bonds available for sale
Corporate debt
|
Dec. 31, 2013
Bonds available for sale
Corporate debt
|
Dec. 31, 2014
Bonds available for sale
Residential mortgage-backed securities (RMBS)
|
Dec. 31, 2013
Bonds available for sale
Residential mortgage-backed securities (RMBS)
|
Dec. 31, 2014
Bonds available for sale
Commercial mortgage-backed securities (CMBS)
|
Dec. 31, 2013
Bonds available for sale
Commercial mortgage-backed securities (CMBS)
|
Dec. 31, 2014
Bonds available for sale
Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
|
Dec. 31, 2013
Bonds available for sale
Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
|
Dec. 31, 2014
Other bond securities
|
Dec. 31, 2013
Other bond securities
|
Dec. 31, 2014
Other bond securities
Trading Revenue
|
Dec. 31, 2013
Other bond securities
Trading Revenue
|
Dec. 31, 2014
Other bond securities
Residential mortgage-backed securities (RMBS)
|
Dec. 31, 2013
Other bond securities
Residential mortgage-backed securities (RMBS)
|
Dec. 31, 2014
Other bond securities
Residential mortgage-backed securities (RMBS)
Trading Revenue
|
Dec. 31, 2013
Other bond securities
Residential mortgage-backed securities (RMBS)
Trading Revenue
|
Dec. 31, 2014
Other bond securities
Commercial mortgage-backed securities (CMBS)
|
Dec. 31, 2013
Other bond securities
Commercial mortgage-backed securities (CMBS)
|
Dec. 31, 2014
Other bond securities
Commercial mortgage-backed securities (CMBS)
Trading Revenue
|
Dec. 31, 2013
Other bond securities
Commercial mortgage-backed securities (CMBS)
Trading Revenue
|
Dec. 31, 2014
Other bond securities
Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
|
Dec. 31, 2013
Other bond securities
Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
|
Dec. 31, 2014
Other bond securities
Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Trading Revenue
|
Dec. 31, 2013
Other bond securities
Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)
Trading Revenue
|
Dec. 31, 2014
Equity securities available for sale
|
Dec. 31, 2013
Equity securities available for sale
|
Dec. 31, 2014
Equity securities available for sale
Common Stock
|
Dec. 31, 2013
Equity securities available for sale
Common Stock
|
Dec. 31, 2013
Equity securities available for sale
Preferred Stock
|
Dec. 31, 2014
Equity securities available for sale
Mutual Funds
|
Dec. 31, 2014
Other invested assets
|
Dec. 31, 2013
Other invested assets
|
|
| Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance Beginning of Period | $ 46,547 | $ 39,353 | $ 30,001 | $ 24,152 | $ 1,080 | $ 1,024 | $ 16 | $ 14 | $ 1,255 | $ 1,487 | $ 14,941 | $ 11,662 | $ 5,735 | $ 5,124 | $ 6,974 | $ 4,841 | $ 10,615 | $ 9,744 | $ 937 | $ 396 | $ 844 | $ 812 | $ 8,834 | $ 8,536 | $ 1 | $ 68 | $ 1 | $ 24 | $ 44 | $ 5,930 | $ 5,389 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Net Realized and Unrealized Gains (Losses) Included in Income | 2,462 | 2,964 | 1,180 | 1,089 | 29 | 1 | 12 | 8 | 1,012 | 867 | 69 | 24 | 86 | 161 | 1,132 | 1,660 | 40 | 66 | (6) | 67 | 1,098 | 1,527 | 7 | 7 | 150 | 208 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Income (Loss) | 907 | 612 | 509 | 380 | 233 | (175) | (1) | (1) | 19 | (19) | 53 | 466 | 243 | 100 | (38) | 9 | (5) | (8) | 3 | 398 | 237 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Purchases, Sales, Issues and Settlements, Net | 1,165 | 2,328 | 3,092 | 4,369 | 914 | 403 | 9 | 3 | (257) | (176) | 796 | 1,818 | 85 | 375 | 1,545 | 1,946 | (1,849) | (2,036) | 97 | 208 | (141) | (200) | (1,805) | (2,044) | (1) | (69) | (1) | (22) | (47) | (83) | 64 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Gross Transfers in, assets | 4,797 | 3,432 | 4,181 | 1,699 | 119 | 8 | 1 | 1,363 | 450 | 120 | 186 | 83 | 161 | 2,488 | 901 | 446 | 1,389 | 51 | 267 | 124 | 279 | 271 | 843 | 3 | 2 | 1 | 167 | 344 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gross Transfers out, assets | 11,615 | 2,142 | 9,280 | 1,688 | 187 | 201 | 3 | 1 | 509 | 495 | 117 | 58 | 3,519 | 49 | 4,945 | 884 | 1,421 | 142 | 20 | 452 | 114 | 949 | 28 | 2 | 1 | 1 | 912 | 312 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance End of Period | 44,263 | 46,547 | 29,683 | 30,001 | 2,159 | 1,080 | 30 | 16 | 1,883 | 1,255 | 16,805 | 14,941 | 2,696 | 5,735 | 6,110 | 6,974 | 8,923 | 10,615 | 1,105 | 937 | 369 | 844 | 7,449 | 8,834 | 1 | 1 | 1 | 1 | 5,650 | 5,930 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets | 298 | 708 | 298 | 708 | (13) | (2) | (7) | 29 | 318 | 681 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance at the Beginning of the Period | (2,121) | (2,974) | (312) | (1,257) | (1,439) | (1,373) | (100) | 732 | 49 | 47 | 1 | 1 | (1,280) | (1,991) | (109) | (162) | (370) | (344) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Realized and Unrealized Gains (Losses) Included in Income | (659) | 1,309 | (1,127) | 744 | 374 | 702 | (10) | 19 | 2 | 21 | 74 | (1) | 263 | 567 | 99 | 42 | 94 | (137) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Income (loss) | (1) | 14 | (54) | (1) | 53 | 15 | 53 | 15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Purchases, Sales, Issues and Settlements-Net | (32) | (489) | (16) | 202 | (53) | (729) | 39 | (851) | (10) | (18) | (20) | 39 | 144 | (103) | (2) | 37 | 38 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gross Transfers in, liabilities | 21 | 3 | (49) | 1 | (48) | (1) | (1) | 2 | 70 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gross Transfers out, liabilities | 40 | 22 | (56) | (53) | (3) | (53) | (53) | 96 | 75 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance at the End of the Period | (2,794) | (2,121) | (1,509) | (312) | (1,072) | (1,439) | (74) | (100) | (8) | 47 | 49 | 1 | (978) | (1,280) | (59) | (109) | (213) | (370) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, liabilities | $ 152 | $ 856 | $ (218) | $ 104 | $ 355 | $ 782 | $ (10) | $ 35 | $ 3 | $ 13 | $ 30 | $ (1) | $ (1) | $ 268 | $ 711 | $ 82 | $ 7 | $ 15 | $ (30) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of unrealized (holding) gain (loss) which is included in the statement of income (or changes in net assets) related to those assets still held at the reporting date for which fair value is measured on a recurring basis using significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of unrealized (holding) gain (loss) which is included in the statement of income (or changes in net assets) related to those liabilities still held at the reporting date for which fair value is measured on a recurring basis using significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of transfers of financial instrument classified as a liability into level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of transfers of financial instrument classified as a liability out of level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) recognized in the income statement for financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) recognized in other comprehensive income (loss) for financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of purchases, (sales), issuances and (settlements) of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of transfer of financial instrument classified as an asset into level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of transfers of financial instrument classified as an asset out of level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) recognized on the income statement for financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) recognized in other comprehensive income (loss) for financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of purchases, (sales), issuances and (settlements) of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) recognized in the income statement for financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) recognized on the income statement for financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Net gains or losses for the period (realized and unrealized) related to assets and liabilities transferred into Level 3 at fair value at the end of the reporting period and are therefore not reflected in realized and unrealized gains and losses related to Level 3 for the period. No definition available.
|
| X | ||||||||||
|
- Definition
Net gains or losses for the period (realized and unrealized) related to assets and liabilities transferred out of Level 3 at fair value at the end of the reporting period and are therefore not reflected in realized and unrealized gains and losses related to Level 3 for the period. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of issuances of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of purchases of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of purchases, (sales), issuances and (settlements) of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of sale of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of settlement of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of purchases of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of purchases, (sales), issuances and (settlements) of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of sales of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of settlements of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Assets)) (Level 3, USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
|
Corporate debt
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Fair Value | $ 1,145 | $ 788 |
|
Corporate debt | Discounted cash flow | Minimum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 3.46% | 0.00% |
|
Corporate debt | Discounted cash flow | Maximum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 8.75% | 14.29% |
|
Corporate debt | Discounted cash flow | Weighted-average
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 6.10% | 6.64% |
|
Residential mortgage-backed securities
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Fair Value | 17,353 | 14,419 |
|
Residential mortgage-backed securities | Discounted cash flow | Minimum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 2.67% | 2.54% |
| Constant prepayment rate | 0.59% | 0.00% |
| Loss severity | 46.04% | 42.60% |
| Constant default rate | 3.67% | 3.98% |
|
Residential mortgage-backed securities | Discounted cash flow | Maximum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 6.64% | 7.40% |
| Constant prepayment rate | 9.35% | 10.35% |
| Loss severity | 79.56% | 79.07% |
| Constant default rate | 9.96% | 12.22% |
|
Residential mortgage-backed securities | Discounted cash flow | Weighted-average
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 4.65% | 4.97% |
| Constant prepayment rate | 4.97% | 4.97% |
| Loss severity | 62.80% | 60.84% |
| Constant default rate | 6.82% | 8.10% |
|
Certain CDO/ABS
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Fair Value | 5,282 | 5,414 |
|
Certain CDO/ABS | Discounted cash flow | Minimum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 4.70% | 5.20% |
| Constant prepayment rate | 6.40% | 5.20% |
| Loss severity | 42.90% | 48.60% |
| Constant default rate | 2.50% | 3.20% |
|
Certain CDO/ABS | Discounted cash flow | Maximum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 9.70% | 11.50% |
| Constant prepayment rate | 12.80% | 10.80% |
| Loss severity | 60.30% | 63.40% |
| Constant default rate | 14.70% | 16.20% |
|
Certain CDO/ABS | Discounted cash flow | Weighted-average
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 7.10% | 9.40% |
| Constant prepayment rate | 9.20% | 8.20% |
| Loss severity | 51.90% | 56.40% |
| Constant default rate | 7.80% | 9.00% |
|
Commercial mortgage backed securities
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Fair Value | 2,687 | 5,847 |
|
Commercial mortgage backed securities | Discounted cash flow | Minimum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 0.00% | 0.00% |
|
Commercial mortgage backed securities | Discounted cash flow | Maximum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 17.29% | 14.69% |
|
Commercial mortgage backed securities | Discounted cash flow | Weighted-average
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 6.06% | 5.58% |
|
CDO/ABS - Direct Investment book
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Fair Value | 279 | 557 |
|
CDO/ABS - Direct Investment book | Binomial Expansion Technique (BET) | Minimum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Recovery rates | 7.00% | 6.00% |
| Diversity score | 5 | 5 |
| Weighted average life | 0 years 3 months | 1 year 0 months 25 days |
|
CDO/ABS - Direct Investment book | Binomial Expansion Technique (BET) | Maximum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Recovery rates | 36.00% | 63.00% |
| Diversity score | 27 | 35 |
| Weighted average life | 10 years 5 months 26 days | 9 years 5 months 19 days |
|
CDO/ABS - Direct Investment book | Binomial Expansion Technique (BET) | Weighted-average
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Recovery rates | 21.00% | 25.00% |
| Diversity score | 12 | 12 |
| Weighted average life | 3 years 11 months 5 days | 4 years 10 months 10 days |
|
Obligations of states, municipalities and political subdivisions
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Fair Value | $ 1,178 | $ 920 |
|
Obligations of states, municipalities and political subdivisions | Discounted cash flow | Minimum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 3.90% | 4.94% |
|
Obligations of states, municipalities and political subdivisions | Discounted cash flow | Maximum
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 4.62% | 5.86% |
|
Obligations of states, municipalities and political subdivisions | Discounted cash flow | Weighted-average
|
||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Yield | 4.26% | 5.40% |
| X | ||||||||||
|
- Definition
Represents the constant default rate, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the diversity score used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the recovery rate, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the weighted average life, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the yield, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Loss, including interest and principal, incurred on a defaulted security, expressed as a percentage of the original principal balance, used as an input to measure fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Rate at which loans or a loan portfolio are expected to prepay principal balances, used as an input to measure fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
FAIR VALUE MEASUREMENTS (Details - Quantitative Information about Level 3 Fair Value Measurements, Liabilities) (Level 3, USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
|
Policyholder contract deposits - GMWB
|
||
| Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
| Fair value | $ 1,509 | $ 312 |
|
Policyholder contract deposits - GMWB | Discounted cash flow | Minimum
|
||
| Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
| Equity implied volatility | 6.00% | 6.00% |
| Base lapse rates | 1.00% | 1.00% |
| Dynamic lapse rates | 0.20% | 0.20% |
| Mortality rates | 0.10% | 0.50% |
| Utilization rates | 0.50% | 0.50% |
|
Policyholder contract deposits - GMWB | Discounted cash flow | Maximum
|
||
| Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
| Equity implied volatility | 39.00% | 39.00% |
| Base lapse rates | 40.00% | 40.00% |
| Dynamic lapse rates | 60.00% | 60.00% |
| Mortality rates | 35.00% | 40.00% |
| Utilization rates | 30.00% | 25.00% |
|
Derivative Liabilities - Credit contracts
|
||
| Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
| Fair value | $ 791 | $ 996 |
|
Derivative Liabilities - Credit contracts | BET | Minimum
|
||
| Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
| Recovery rates | 5.00% | 5.00% |
| Diversity score | 8 | 9 |
| Weighted average life | 2 years 8 months 1 day | 4 years 6 months |
|
Derivative Liabilities - Credit contracts | BET | Maximum
|
||
| Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
| Recovery rates | 23.00% | 34.00% |
| Diversity score | 25 | 32 |
| Weighted average life | 10 years 5 months 26 days | 9 years 5 months 19 days |
|
Derivative Liabilities - Credit contracts | BET | Weighted-average
|
||
| Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
| Recovery rates | 13.00% | 17.00% |
| Diversity score | 13 | 13 |
| Weighted average life | 4 years 7 months 24 days | 5 years 7 months 17 days |
| X | ||||||||||
|
- Definition
Represents the constant base lapse rates, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the diversity score used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the constant dynamic lapse rates, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the constant implied volatility, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the constant mortality rates, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the recovery rate, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the constant utilization rates, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the weighted average life, used as an input to measure fair value. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value of financial and nonfinancial obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the percentage of investment subject to annual redemption. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the percentage of investment subject to monthly redemption. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the percentage of investment subject to quarterly redemption. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the percentage of investment subject to semi-annual redemption. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of investments in certain entities that calculate net asset value per share, including, but not limited to, by unit, membership interest, or other ownership interest. Investments include, but are not limited to, investments in certain hedge funds, venture capital funds, private equity funds, real estate partnerships or funds. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
States the notice requirement (for example, 30 to 60 days) the entity is required to deliver before it can redeem its investment, or portion thereof, for each of those certain investments for which net asset value per share is calculated (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments), by major category. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The percentage of the total value of investments that cannot be redeemed because of a redemption restriction as of the statement of financial position date. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of unfunded commitments for which the entity is obligated, to those certain investments for which net asset value per share is calculated (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For each line item in the statement of financial position, the amounts of gains and losses from fair value changes included in earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk of liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Minimum period for past due mortgage or other loans receivable for which the fair value option is elected. No definition available.
|
| X | ||||||||||
|
- Definition
Includes the outstanding principal amount of mortgage loans on real estate, policy loans and collateral, commercial and guaranteed loans. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents the difference between the aggregate fair value and the aggregate unpaid principal balance of loans and long-term receivables (other than securities categorized as trading, available-for-sale or held-to-maturity) that have contractual principal amounts and for which the fair value option has been elected. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the difference between the aggregate fair value and the aggregate unpaid principal balance of long-term debt instruments that have contractual principal amounts and for which the fair value option has been elected. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of loans held as assets that are 90 days or more past due for which the fair value option has been elected. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of loans held as assets that are in nonaccrual status for which the fair value option has been elected, if the entity's policy is to recognize interest income separately from other changes in fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value portion of an agreement for an unconditional promise by the maker to pay the holder a definite sum of money at a future date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a nonrecurring basis by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. No definition available.
|
| X | ||||||||||
|
- Definition
Other investments excluding aircraft asset investments held by subsidiaries. No definition available.
|
| X | ||||||||||
|
- Definition
The liability to the policyholders for deposits associated with investment-type insurance contracts. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after allowance and deduction of deferred interest and fees, unamortized costs and premiums and discounts from face amounts, of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Excludes loans and leases covered under loss sharing agreements and loans held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of accumulated unrealized gain before deducting unrealized loss on investments in available-for-sale securities impacting investments. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of accumulated unrealized loss before deducting unrealized gain on investments in available-for-sale securities impacting investments. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of Available-for-sale Securities that are below investment grade or not rated. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount before tax of increase (decrease) in accumulated in equity from transactions and other events and circumstances from non-owner sources. Excludes net income (loss), and accumulated changes in equity from transactions resulting from investments by owners (distributions to owners). No definition available.
|
| X | ||||||||||
|
- Definition
Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the cost of debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of accumulated unrealized loss on securities classified as available-for-sale securities that have been in a loss position for twelve months or longer impacting investments. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of accumulated unrealized loss on securities classified as available-for-sale securities, impacting investments. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of accumulated unrealized loss on securities classified as available-for-sale securities that have been in a loss position for less than twelve months impacting investments. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities in an unrealized loss position which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for less than twelve months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for twelve months or longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of investment positions in available-for-sale investments in a continuous unrealized loss position for which an other-than-temporary impairment (OTTI) has not been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of investment positions in available-for-sale investments that have been in a continuous unrealized loss position for greater than or equal to a year for which an other-than-temporary impairment (OTTI) has not been recognized in the income statement. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the cost of debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the next rolling twelve months following the latest balance sheet presented. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value maturing in the next rolling twelve months following the latest balance sheet presented. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing after the tenth rolling twelve months following the latest balance sheet presented. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value maturing after the tenth rolling twelve months following the latest balance sheet presented. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the sixth rolling twelve months through the tenth rolling twelve months following the latest balance sheet presented. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value maturing in the sixth rolling twelve months through the tenth rolling twelve months following the latest balance sheet presented. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the second rolling twelve months through the fifth rolling twelve months following the latest balance sheet presented. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value maturing in the second rolling twelve months through the fifth rolling twelve months following the latest balance sheet presented. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, that do not have a single maturity date and which the entity has decided to disclose separately rather than allocating the cost over several maturity groupings. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value that do not have a single maturity date and which the entity has decided to disclose separately rather than allocating the fair value over several maturity groupings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
INVESTMENTS (Details - Realized gains and gross realized losses from sales or maturities) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Schedule of Available-for-sale Securities [Line Items] | |||
| Gross Realized Gains | $ 838,000,000 | $ 2,764,000,000 | $ 3,293,000,000 |
| Gross Realized Losses | 142,000,000 | 221,000,000 | 202,000,000 |
| Aggregate fair value of available for sale securities sold | 25,300,000,000 | 35,900,000,000 | 40,300,000,000 |
| Net realized capital gains (losses) | 700,000,000 | 2,500,000,000 | 3,100,000,000 |
|
Fixed maturity securities
|
|||
| Schedule of Available-for-sale Securities [Line Items] | |||
| Gross Realized Gains | 703,000,000 | 2,634,000,000 | 2,778,000,000 |
| Gross Realized Losses | 118,000,000 | 202,000,000 | 171,000,000 |
|
Equity securities available for sale
|
|||
| Schedule of Available-for-sale Securities [Line Items] | |||
| Gross Realized Gains | 135,000,000 | 130,000,000 | 515,000,000 |
| Gross Realized Losses | $ 24,000,000 | $ 19,000,000 | $ 31,000,000 |
| X | ||||||||||
|
- Definition
This element represents the aggregate fair value of Available-for-sale securities sold during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the gross profit realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the gross loss realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the percentage of the total fair value of trading securities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of investments in debt and equity securities and other forms of securities that provide ownership interests classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INVESTMENTS (Details - Carrying values of other invested assets) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
|---|---|---|
| Investment [Line Items] | ||
| Other invested assets | $ 34,518 | $ 28,659 |
| Other invested assets, gross unrealized losses | 56 | 15 |
|
Alternative investments
|
||
| Investment [Line Items] | ||
| Other invested assets | 19,656 | 19,709 |
|
Mutual Funds
|
||
| Investment [Line Items] | ||
| Other invested assets | 85 | |
|
Investment real estate
|
||
| Investment [Line Items] | ||
| Other invested assets | 3,612 | 3,113 |
| Net of accumulated depreciation on investment in real estate | 315 | 513 |
|
Aircraft asset investments
|
||
| Investment [Line Items] | ||
| Other invested assets | 651 | 763 |
|
Investment In Aer Cap [Member]
|
||
| Investment [Line Items] | ||
| Other invested assets | 4,972 | |
|
Investments in life settlements
|
||
| Investment [Line Items] | ||
| Other invested assets | 3,753 | 3,601 |
|
All other investments
|
||
| Investment [Line Items] | ||
| Other invested assets | $ 1,874 | $ 1,388 |
| X | ||||||||||
|
- Definition
This item represents the gross unrealized losses for other invested assets, at a point in time. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INVESTMENTS (Details - Equity method investments)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2014
|
|
|
Minimum
|
|
| Other Invested Assets - Equity Method Investments | |
| Investee's reporting period prior to the end of entity's reporting period | 1 month |
|
Maximum
|
|
| Other Invested Assets - Equity Method Investments | |
| Investee's reporting period prior to the end of entity's reporting period | 3 months |
| X | ||||||||||
|
- Definition
Represents the investee's reporting period prior to the end of the entity's reporting period. No definition available.
|
| X | ||||||||||
|
- Details
|
|
INVESTMENTS (Details - AIA IPO) (USD $)
|
12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 20, 2012
AIA Group Limited (AIA)
|
Sep. 11, 2012
AIA Group Limited (AIA)
|
Mar. 07, 2012
AIA Group Limited (AIA)
|
Oct. 29, 2010
AIA Group Limited (AIA)
|
Dec. 31, 2013
AIA Group Limited (AIA)
|
Dec. 31, 2012
AIA Group Limited (AIA)
|
Dec. 31, 2011
AIA Group Limited (AIA)
|
|
| Subsidiary, Sale of Stock [Line Items] | ||||||||||
| Ordinary shares issued through IPO | 0 | |||||||||
| Gross proceeds from ordinary shares issued through IPO | $ 0 | |||||||||
| Percentage of voting interest owned | 0.00% | |||||||||
| Pre-tax gain (loss) on deconsolidation | 0 | |||||||||
| Subsequent sale of ordinary shares | 41,551 | 58,787 | 729,308 | 0 | 0 | 0 | ||||
| Gross proceeds from subsequent shares sold | 0 | 0 | 0 | |||||||
| Fair value option gain (loss) | $ 0 | $ 0 | ||||||||
| X | ||||||||||
|
- Definition
For each line item in the statement of financial position, the amounts of gains and losses from fair value changes included in earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) on sale or disposal of equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares issued or sold by the subsidiary or equity method investee per stock transaction. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of subsidiary's or equity investee's stock owned by parent company after stock transaction. No definition available.
|
| X | ||||||||||
|
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
INVESTMENTS (Details - Summarized financial information of equity method investees) (All other equity method investments, USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
|
All other equity method investments
|
|||
| Operating results: | |||
| Total revenues | $ 29,579 | $ 19,181 | $ 9,438 |
| Total expenses | (7,828) | (5,515) | (5,183) |
| Net income | 21,751 | 13,666 | 4,255 |
| Balance sheet: | |||
| Total assets | 207,994 | 150,586 | |
| Total liabilities | (67,346) | (25,134) | |
| Equity method investments, Carrying Value | $ 18,951 | $ 12,921 | |
| X | ||||||||||
|
- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in an equity method investee. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of the total expenses reported by an equity method investment of the entity. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of the total revenues reported by an equity method investment of the entity. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of assets reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of liabilities reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) reported by an equity method investment of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the income recognized on life settlement contracts. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of life settlement contracts accounted for under the investment method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of life settlement contracts accounted for under the investment method maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of life settlement contracts accounted for under the investment method maturing in the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of life settlement contracts accounted for under the investment method maturing in the fourth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of life settlement contracts accounted for under the investment method maturing in the third fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of life settlement contracts accounted for under the investment method maturing in the second fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face value (death benefits) of the life insurance policies underlying the life settlement contracts accounted for under the investment method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Face value (death benefits) of the life insurance policies underlying the life settlement contracts accounted for under the investment method maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face value (death benefits) of the life insurance policies underlying the life settlement contracts accounted for under the investment method maturing in the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face value (death benefits) of the life insurance policies underlying the life settlement contracts accounted for under the investment method maturing in the fourth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face value (death benefits) of the life insurance policies underlying the life settlement contracts accounted for under the investment method maturing in the third fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face value (death benefits) of the life insurance policies underlying the life settlement contracts accounted for under the investment method maturing in the second fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of life settlement contracts accounted for under the investment method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of life settlement contracts accounted for under the investment method maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of life settlement contracts accounted for under the investment method maturing in the next fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of life settlement contracts accounted for under the investment method maturing in the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of life settlement contracts accounted for under the investment method maturing in the fourth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of life settlement contracts accounted for under the investment method maturing in the third fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of life settlement contracts accounted for under the investment method maturing in the second fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of life insurance premiums anticipated to be paid in the next fiscal year following the latest fiscal year to keep the life settlement contracts accounted for under the investment method in force. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of life insurance premiums anticipated to be paid in the fifth fiscal year following the latest fiscal year to keep the life settlement accounted for under the investment method contracts in force. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of life insurance premiums anticipated to be paid in the fourth fiscal year following the latest fiscal year to keep the life settlement contracts accounted for under the investment method in force. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of life insurance premiums anticipated to be paid in the third fiscal year following the latest fiscal year to keep the life settlement contracts accounted for under the investment method in force. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of life insurance premiums anticipated to be paid in the second fiscal year following the latest fiscal year to keep the life settlement contracts accounted for under the investment method in force. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INVESTMENTS (Details - Components of Net investment income) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Investment [Line Items] | |||
| Total investment income | $ 16,596 | $ 16,358 | $ 20,947 |
| Investment expenses | 517 | 548 | 604 |
| Net investment income | 16,079 | 15,810 | 20,343 |
|
AIA Group Limited (AIA)
|
|||
| Investment [Line Items] | |||
| Total investment income | 0 | 2,069 | |
|
Maiden Lane II
|
|||
| Investment [Line Items] | |||
| Total investment income | 0 | 246 | |
|
Maiden Lane III
|
|||
| Investment [Line Items] | |||
| Total investment income | 0 | 2,888 | |
|
MetLife Inc. (MetLife)
|
|||
| Investment [Line Items] | |||
| Total investment income | 0 | ||
|
Fixed maturity securities, including short-term investments
|
|||
| Investment [Line Items] | |||
| Total investment income | 12,322 | 12,044 | 12,592 |
|
Equity securities
|
|||
| Investment [Line Items] | |||
| Total investment income | 221 | 178 | 162 |
|
Interest on mortgage and other loans
|
|||
| Investment [Line Items] | |||
| Total investment income | 1,272 | 1,144 | 1,083 |
|
Alternative investments
|
|||
| Investment [Line Items] | |||
| Total investment income | 2,624 | 2,803 | 1,769 |
|
Real estate
|
|||
| Investment [Line Items] | |||
| Total investment income | 110 | 128 | 127 |
|
Other investments
|
|||
| Investment [Line Items] | |||
| Total investment income | $ 47 | $ 61 | $ 11 |
| X | ||||||||||
|
- Definition
Amount, before investment expense, of income (loss) earned from investments. Includes unrealized and realized gains (losses). No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of expenses related to the generation of investment income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INVESTMENTS (Details - Components of Net realized capital gains (losses)) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Other-than-temporary impairments: | |||
| Severity | $ (3) | $ (6) | $ (44) |
| Change in intent | (40) | (48) | (62) |
| Foreign currency declines | (19) | (1) | (8) |
| Issuer-specific credit events | (169) | (170) | (931) |
| Adverse projected cash flows | (16) | (7) | (5) |
| Provision for loan losses | (1) | (26) | 104 |
| Foreign exchange transactions | 598 | 151 | (233) |
| Derivative instruments | (177) | 287 | (529) |
| Impairments of investments in life settlements | (201) | (971) | (309) |
| Other | 71 | 187 | 13 |
| Total net realized capital gains | 739 | 1,939 | 1,087 |
|
MetLife
|
|||
| Other-than-temporary impairments: | |||
| Total net realized capital gains | 0 | ||
|
Fixed maturity securities
|
|||
| Gain (Loss) on Investments [Line Items] | |||
| Sale of fixed maturity securities | 585 | 2,432 | 2,607 |
|
Equity securities
|
|||
| Gain (Loss) on Investments [Line Items] | |||
| Sale of fixed maturity securities | $ 111 | $ 111 | $ 484 |
| X | ||||||||||
|
- Definition
Represents amount of impairments on life settlement contracts. No definition available.
|
| X | ||||||||||
|
- Definition
Represents other investment charges not specified in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the other than temporary impairments due to change in intent. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the other than temporary impairments due to change in adverse projected cash flows. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the other than temporary impairments due to foreign currency declines. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the other than temporary impairments due to issuer-specific credit events. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the other than temporary impairments due to severity. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the net realized gains or (losses) on investments, including available for sale and trading securities, real estate investments, loans, and derivative instruments. Also includes other-than temporary impairment charges, the provision for loan losses, foreign currency transactions and other charges related to the valuation of these investments in the period. No definition available.
|
| X | ||||||||||
|
- Definition
Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the book value and the sale price of options, swaps, futures, forward contracts, and other derivative instruments. This element refers to the gain (loss) included in earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the total realized gain (loss) included in earnings for the period as a result of selling marketable securities categorized as trading, available-for-sale, or held-to-maturity. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of expense related to loss from loan transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
INVESTMENTS (Details - Increase (decrease) in unrealized appreciation (depreciation)) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
| Schedule of Available-for-sale Securities [Line Items] | ||
| Increase (decrease) in unrealized appreciation (depreciation) of investments | $ 7,720 | $ (13,605) |
|
Fixed maturity securities
|
||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Increase (decrease) in unrealized appreciation (depreciation) of investments | 6,809 | (14,066) |
|
Equity securities
|
||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Increase (decrease) in unrealized appreciation (depreciation) of investments | 535 | 360 |
|
Other investments
|
||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Increase (decrease) in unrealized appreciation (depreciation) of investments | $ 376 | $ 101 |
| X | ||||||||||
|
- Definition
This item represents the pretax change in net unrealized holding gain (loss) on available-for-sale securities that has been included in accumulated other comprehensive income, a separate component of shareholders' equity, during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents an increase or (decrease) to the cumulative amount of credit losses recognized in earnings for an other than temporary impairment (OTTI) of a debt security for other reasons not otherwise specified in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
Represents one of the criteria for considering impairment of securities, the period of time at which a security has traded at a discount. No definition available.
|
| X | ||||||||||
|
- Definition
Represents one of the criteria for considering impairment of securities, the period over which securities have been in a continuous decline in a value below cost. No definition available.
|
| X | ||||||||||
|
- Definition
The rapid and severe market valuation decline percentage discount criterion (or more) to cost by which a security is determined to be traded at a significant discount to cost for an extended period of time (nine consecutive months or longer) and, therefore, is considered a candidate for other-than-temporary impairment. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage discount criterion (or more) to cost by which a security is determined to be traded at a significant discount to cost for an extended period of time (nine consecutive months or longer) and, therefore, is considered a candidate for other-than-temporary impairment. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents an increase to the cumulative amount of credit losses recognized in earnings for an other than temporary impairment (OTTI) of a debt security held for which a previous OTTI was recognized and the investor does not intend to sell the debt security and it is not more likely than not that the investor will be required to sell the debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents an increase to the cumulative amount of credit losses recognized in earnings for an other than temporary impairment (OTTI) of a debt security held for which no such other than temporary impairment (OTTI) was previously recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of credit losses recognized in earnings related to debt securities held for which a portion of an other than temporary impairment (OTTI) was recognized in other comprehensive income (a component of shareholders' equity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents reductions in the cumulative amount of credit losses recognized in earnings for an other than temporary impairment (OTTI) of a debt security held due to increases in cash flows expected to be collected and recognized over the remaining life of the security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents reductions in the amount of cumulative losses recognized in earnings for other than temporary impairments (OTTI) for which a portion of the impairment had been recognized in other comprehensive income (a component of shareholders' equity) due to a change in status of the impaired security because of a change in the entity's intent to either sell the impaired security or it has become more likely than not that the entity will be required to sell the security before recovery of its cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents reductions in the cumulative amount of credit losses recognized in earnings for an other than temporary impairment (OTTI) of a debt security because of the sale of impaired securities during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
INVESTMENTS (Details - Purchased Credit Impaired (PCI) Securities) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
| Schedule of Available-for-sale Securities [Line Items] | ||
| Amortized cost | $ 243,307 | $ 248,531 |
| Fair value | 264,254 | 261,930 |
|
Purchased Credit Impaired (PCI) Securities
|
||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Contractually required payments (principal and interest) | 30,520 | |
| Cash flows expected to be collected | 24,561 | |
| Recorded investment in acquired securities | 16,311 | |
| Outstanding principal balance | 16,962 | 14,741 |
| Amortized cost | 12,216 | 10,110 |
| Fair value | 13,462 | 11,338 |
| Changes in activity for the accretable yield on PCI securities: | ||
| Balance, beginning of year | 6,940 | 4,766 |
| Newly purchased PCI securities | 1,289 | 1,773 |
| Disposals | 0 | (60) |
| Accretion | (880) | (719) |
| Effect of changes in interest rate indices | (542) | 302 |
| Net reclassification from non-accretable difference, including effects of prepayments | 58 | 878 |
| Balance, end of year | $ 6,865 | $ 6,940 |
| X | ||||||||||
|
- Definition
Change in the estimate of cash flows expected to be collected, which results in an increase or decrease in accretable yield, due to effect of changes in interest rate indices. This relates to a loan accounted for as an available-for-sale debt security, with evidence of deterioration of credit quality since origination that was acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. No definition available.
|
| X | ||||||||||
|
- Definition
The change in the estimate of cash flows expected to be collected, which results in an increase or decrease in accretable yield. This relates to a loan accounted for as an available-for-sale debt security, with evidence of deterioration of credit quality since origination that was acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. No definition available.
|
| X | ||||||||||
|
- Definition
The recorded investment of the securities at the acquisition date. This relates to securities accounted for as available-for-sale debt securities, with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. No definition available.
|
| X | ||||||||||
|
- Definition
This represents the outstanding principal of securities outstanding at the reporting date. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate excess of a loan's cash flows expected to be collected over the investor's initial investment in the loan. This relates to loans accounted for as available-for-sale debt securities, with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Current period recognition of the accretion of the excess of a loan's cash flows expected to be collected over the investor's initial investment in the loan. This element relates to loans accounted for as available-for-sale debt securities, with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Increases in the aggregate excess of a loan's cash flows expected to be collected over the investor's initial investment in the loan. This relates to loans accounted for as available-for-sale debt securities, with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sale or transfer of a loan during the period resulting in a reduction in the excess of a loan's cash flows expected to be collected over the investor's initial investment. This relates to a loan accounted for as an available-for-sale debt security, with evidence of deterioration of credit quality since origination that was acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash flows expected to be collected at acquisition of acquired loans accounted for as available-for-sale debt securities with evidence of deterioration of credit quality. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of contractually required payments receivable at acquisition of acquired loans accounted for as available-for-sale debt securities with evidence of deterioration of credit quality. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the amount of collateral posted by the entity for the securities sold under the agreements to be repledged by the counterparties. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. The amount of securities that an institution sells and agrees to repurchase (seller-borrower) at a specified date for a specified price, net of any reductions or offsets. Most repurchase agreements involve obligations of the federal government or its agencies, but other financial instruments, such as commercial paper, banker's acceptances, and negotiable certificates of deposit (CDs), are sometimes used in repurchase agreements. A repurchase agreement is similar to the seller-borrower's borrowing funds equal to the sales price of the related securities with the securities as collateral. Maturities of such agreements are flexible and generally vary from one day to 270 days. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the threshold value of collateral received as a percentage of the cost of purchasing identical replacement securities which is used to determine whether a transaction is classified as a sale. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of cash and investment securities on deposit with state regulatory authorities in connection with capital requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fair value of available-for-sale securities that serve as collateral for borrowings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of interest-bearing funds deposited into another Federal Home Loan Banks (FHLBanks). No definition available.
|
| X | ||||||||||
|
- Definition
Fair value portion of securities that an entity sells and agrees to repurchase at a specified date for a specified price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fair value of trading securities that serve as collateral for borrowings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
LENDING ACTIVITIES (Details - Composition of Mortgages and other loans receivable) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2014
Commercial mortgages
|
Dec. 31, 2013
Commercial mortgages
|
Dec. 31, 2012
Commercial mortgages
|
Dec. 31, 2011
Commercial mortgages
|
Dec. 31, 2014
Commercial mortgages
California
|
Dec. 31, 2013
Commercial mortgages
California
|
Dec. 31, 2014
Commercial mortgages
New York
|
Dec. 31, 2013
Commercial mortgages
New York
|
Dec. 31, 2014
Life insurance policy loans
|
Dec. 31, 2013
Life insurance policy loans
|
Dec. 31, 2014
Commercial loans, other loans and notes receivable
|
Dec. 31, 2013
Commercial loans, other loans and notes receivable
|
|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||
| Total mortgage and other loans receivable | $ 25,261 | $ 21,077 | $ 18,909 | $ 16,195 | $ 2,710 | $ 2,830 | $ 3,642 | $ 2,052 | ||||||||
| Allowance for losses | (271) | (312) | (405) | (740) | (159) | (201) | (159) | (305) | ||||||||
| Mortgage and other loans receivable, net | $ 24,990 | $ 20,765 | ||||||||||||||
| Percentage of mortgage loans in geographic area | 14.00% | 18.00% | 18.00% | 17.00% | ||||||||||||
| X | ||||||||||
|
- Definition
Includes gross mortgage loans on real estate, policy loans and commercial loans. Such amount may include an accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of allowance to cover probable credit losses on loans and leases. Includes carryover of or adjustments to the allowance for loan losses in connection with business combinations. Excludes allowance for loans and leases covered under loss sharing agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after allowance and deduction of deferred interest and fees, unamortized costs and premiums and discounts from face amounts, of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Excludes loans and leases covered under loss sharing agreements and loans held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
LENDING ACTIVITIES (Details - Credit quality indicators for commercial mortgage loans) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2014
Apartments
|
Dec. 31, 2013
Apartments
|
Dec. 31, 2014
Offices
|
Dec. 31, 2013
Offices
|
Dec. 31, 2014
Retail
|
Dec. 31, 2013
Retail
|
Dec. 31, 2014
Industrial
|
Dec. 31, 2013
Industrial
|
Dec. 31, 2014
Hotel
|
Dec. 31, 2013
Hotel
|
Dec. 31, 2014
Others
|
Dec. 31, 2013
Others
|
Dec. 31, 2014
Commercial mortgages
loan
|
Dec. 31, 2013
Commercial mortgages
loan
|
|
| Commercial Mortgage Recorded Investment [Line Items] | ||||||||||||||||||
| Number of loans in good standing | 1,007 | 978 | ||||||||||||||||
| Number of loans restructured | 7 | 9 | ||||||||||||||||
| Number of loans 90 days or less delinquent | 6 | 2 | ||||||||||||||||
| Number of loans greater than 90 days delinquent or in process of foreclosure | 4 | 6 | ||||||||||||||||
| Number of Loans | 1,024 | 995 | ||||||||||||||||
| In good standing | $ 3,384 | $ 2,786 | $ 6,100 | $ 4,636 | $ 3,807 | $ 3,364 | $ 1,689 | $ 1,607 | $ 1,660 | $ 1,431 | $ 1,812 | $ 1,970 | $ 18,452 | $ 15,794 | ||||
| Restructured | 0 | 53 | 343 | 210 | 7 | 6 | 0 | 0 | 17 | 0 | 0 | 85 | 367 | 354 | ||||
| 90 days or less delinquent | 0 | 0 | 0 | 0 | 10 | 5 | 0 | 0 | 0 | 0 | 5 | 0 | 15 | 5 | ||||
| Greater than 90 days delinquent or in process of foreclosure | 0 | 0 | 75 | 42 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75 | 42 | ||||
| Mortgage and other loans receivable, net | 24,990 | 20,765 | 3,384 | 2,839 | 6,518 | 4,888 | 3,824 | 3,375 | 1,689 | 1,607 | 1,677 | 1,431 | 1,817 | 2,055 | 18,909 | 16,195 | ||
| Allowance for losses | $ 271 | $ 312 | $ 405 | $ 740 | $ 3 | $ 10 | $ 86 | $ 109 | $ 28 | $ 9 | $ 22 | $ 19 | $ 6 | $ 3 | $ 14 | $ 51 | $ 159 | $ 201 |
| Percentage of loans that are current as to payments of principal and interest | 98.00% | 98.00% | ||||||||||||||||
| Percentage restructured | 2.00% | 2.00% | ||||||||||||||||
| Percentage greater than 90 days delinquent or in foreclosure | 0.00% | |||||||||||||||||
| Percentage Total | 100.00% | 100.00% | ||||||||||||||||
| Percentage of loans with allowance for losses | 1.00% | 1.00% | ||||||||||||||||
| Percentage of current commercial mortgages held | 99.00% | |||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the percentage of current commercial mortgages held at respective dates. No definition available.
|
| X | ||||||||||
|
- Definition
Indicates the number of financing receivables under each classification. No definition available.
|
| X | ||||||||||
|
- Definition
Indicates the number of 90 days or less past due financing receivables under each classification. No definition available.
|
| X | ||||||||||
|
- Definition
Indicates the number of financing receivables under each classification. No definition available.
|
| X | ||||||||||
|
- Definition
Indicates the number of greater than 90 days past due financing receivables or in the process of foreclosure under each classification. No definition available.
|
| X | ||||||||||
|
- Definition
Indicates the number of restructured financing receivables under each classification. No definition available.
|
| X | ||||||||||
|
- Definition
Financing receivables that are 90 days or less past due. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage of financing receivables that are current. No definition available.
|
| X | ||||||||||
|
- Definition
Financing receivables that are restructured, which may involve extending the maturity of a loan or otherwise changing the interest rate or other terms of a loan. No definition available.
|
| X | ||||||||||
|
- Definition
Financing receivables that are greater than 90 days past due or in the process of foreclosure. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage of financing receivables that are greater than 90 days past due or in the process of foreclosure. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage of total financing receivables. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage of financing receivables that are restructured. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage of financing receivables that have a valuation allowance established. No definition available.
|
| X | ||||||||||
|
- Definition
Financing receivables that are current. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of allowance to cover probable credit losses on loans and leases. Includes carryover of or adjustments to the allowance for loan losses in connection with business combinations. Excludes allowance for loans and leases covered under loss sharing agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after allowance and deduction of deferred interest and fees, unamortized costs and premiums and discounts from face amounts, of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Excludes loans and leases covered under loss sharing agreements and loans held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reflects the amount added to reserve for credit losses pursuant to discontinued operations. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of other addition (reduction) in allowance reserve for credit loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of loans and leases that have been written off from both loan receivables and allowance reserve for credit loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after recoveries, of loans and leases that have been written-off. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of recovery of loans and lease receivables which had previously been fully or partially written-off as bad debts. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of valuation allowance for financing receivables that are expected to be uncollectible that were individually evaluated for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The balance of financing receivables that were individually evaluated for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the outstanding recorded investment related to financing receivables that have been modified by troubled debt restructurings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of allowance to cover probable credit losses on loans and leases. Includes carryover of or adjustments to the allowance for loan losses in connection with business combinations. Excludes allowance for loans and leases covered under loss sharing agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of expense related to estimated loss from loan and lease transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the valuation allowance for doubtful accounts on reinsurance assets as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the liability for future policy benefits for life and accident and health insurance contracts, net of reinsurance. No definition available.
|
| X | ||||||||||
|
- Definition
Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount of premiums written on insurance contracts that have not been earned, net of reinsurance, as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to casualty insurance insured events that have occurred on or before a particular date (ordinarily, the balance sheet date) and the amount needed to provide for the estimated ultimate cost required to investigate and settle claims relating to insured events that have occurred on or before a particular date (ordinarily, the balance sheet date), whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of accrued obligation to policyholders that relates to insured events for long-duration contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Liability as of the balance sheet date for amounts representing estimated cost of settling unpaid claims under the terms of the underlying insurance policies, less estimated reinsurance recoveries on such claims. This includes an estimate for claims which have been incurred but not reported. Claim adjustment expenses represent the costs estimated to be incurred in the settlement of unpaid claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of premiums written on insurance contracts that have not been earned as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
REINSURANCE (Details - Short-Duration Reinsurance) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |||
|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Premiums Written | ||||
| Direct | $ 43,425 | $ 43,984 | $ 44,604 | |
| Assumed | 3,419 | 4,319 | 4,917 | |
| Ceded | (8,979) | (10,134) | (11,635) | |
| Net Amount | 37,865 | 38,169 | 37,886 | |
| Premiums earned: | ||||
| Net | 37,254 | 37,499 | 38,189 | |
| Reinsurance recoveries, which reduced policyholder benefits and claims incurred | 15,648 | 17,231 | 19,209 | 20,320 |
|
Short-duration insurance
|
||||
| Premiums Written | ||||
| Direct | 40,362 | 40,794 | 41,506 | |
| Assumed | 3,400 | 3,655 | 4,993 | |
| Ceded | (8,319) | (8,863) | (11,148) | |
| Net Amount | 35,443 | 35,586 | 35,351 | |
| Premiums earned: | ||||
| Direct | 39,701 | 39,980 | 41,847 | |
| Assumed | 3,258 | 3,516 | 3,129 | |
| Ceded | (8,140) | (8,585) | (9,371) | |
| Net | 34,819 | 34,911 | 35,605 | |
| Reinsurance recoveries, which reduced policyholder benefits and claims incurred | 2,600 | 3,300 | 4,500 | |
|
Reportable Segments | Total AIG Property Casualty
|
||||
| Premiums Written | ||||
| Direct | 39,375 | 39,833 | 40,647 | |
| Assumed | 3,399 | 4,306 | 4,900 | |
| Ceded | (8,318) | (9,514) | (11,054) | |
| Net Amount | 34,456 | 34,625 | 34,493 | |
|
Reportable Segments | Total AIG Property Casualty | Short-duration insurance
|
||||
| Premiums Written | ||||
| Direct | 39,375 | 39,833 | 40,647 | |
| Assumed | 3,399 | 4,306 | 4,900 | |
| Ceded | (8,318) | (9,514) | (11,054) | |
| Net Amount | 34,456 | 34,625 | 34,493 | |
| Premiums earned: | ||||
| Direct | 38,707 | 39,018 | 41,028 | |
| Assumed | 3,258 | 3,516 | 3,133 | |
| Ceded | (8,140) | (8,585) | (9,375) | |
| Net | 33,825 | 33,949 | 34,786 | |
|
Eliminations | Short-duration insurance
|
||||
| Premiums Written | ||||
| Assumed | (2) | 3 | 7 | |
| Ceded | 2 | (3) | (7) | |
| Premiums earned: | ||||
| Assumed | 4 | (18) | (30) | |
| Ceded | $ (4) | $ 18 | $ 30 | |
| X | ||||||||||
|
- Definition
Amount of earned premiums assumed from other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of written premiums assumed from other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of earned premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of written premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, before premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, before premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after valuation allowance recoverable including premium paid under reinsurance contracts. Examples include, but are not limited to, settled and unsettled claims, incurred but not reported losses, loss adjustment expense, premium paid, policy benefits and policy reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
REINSURANCE (Details - Long-Duration Reinsurance) (USD $)
In Millions, unless otherwise specified |
0 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Feb. 07, 2014
New letter of credit
|
Feb. 07, 2014
New letter of credit
item
|
Dec. 31, 2014
Long-duration insurance in force
|
Dec. 31, 2013
Long-duration insurance in force
|
Dec. 31, 2012
Long-duration insurance in force
|
Dec. 31, 2014
Divested Businesses
Long-duration insurance in force
|
Dec. 31, 2013
Divested Businesses
Long-duration insurance in force
|
Dec. 31, 2012
Divested Businesses
Long-duration insurance in force
|
Dec. 31, 2014
Life and Retirement
Long-duration insurance in force
|
Dec. 31, 2013
Life and Retirement
Long-duration insurance in force
|
Dec. 31, 2012
Life and Retirement
Long-duration insurance in force
|
|
| Premiums earned: | |||||||||||||||
| Direct | $ 4,070 | $ 4,164 | $ 3,974 | $ 11 | $ 9 | $ 11 | $ 4,059 | $ 4,155 | $ 3,963 | ||||||
| Ceded | (661) | (620) | (581) | 0 | 0 | 0 | (661) | (620) | (581) | ||||||
| Net | 3,409 | 3,544 | 3,393 | 11 | 9 | 11 | 3,398 | 3,535 | 3,382 | ||||||
| Reinsurance recoveries, which reduced policyholder benefits and claims incurred | 15,648 | 17,231 | 19,209 | 20,320 | 731,000 | 714 | 758 | ||||||||
| Life insurance ratios | |||||||||||||||
| Long-duration insurance in force ceded | 180,178 | 122,012 | 129,159 | ||||||||||||
| Assumed insurance as a percentage of gross long-duration insurance in force | 0.04% | 0.05% | 0.05% | ||||||||||||
| Assumed insurance as a percent of gross premiums | 0.50% | 0.30% | 0.40% | ||||||||||||
| Letters of credit | |||||||||||||||
| Syndicated letter of credit facility outstanding related to long-duration intercompany reinsurance transactions | 260 | ||||||||||||||
| Letters of credit obtained on a bilateral basis related to long-duration intercompany reinsurance transactions | 450 | 190 | |||||||||||||
| Letter of credit outstanding | $ 450 | ||||||||||||||
| Number of new bilateral letters of credit | 2 | ||||||||||||||
| Automatic extension period | 1 year | ||||||||||||||
| X | ||||||||||
|
- Definition
Represents the automatic extension period of the letters of credit, unless the issuer provides notice of non-renewal. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of contingent obligation under bilateral letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the number of new bilateral letter of credit. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of contingent obligation under syndicated letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of earned premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, before premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Definition
Ratio of life insurance assumed from another insurer to gross life insurance in force. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Ratio with total life insurance premiums in numerator and total GAAP premiums in the denominator. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the participating business in force. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of life premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after valuation allowance recoverable including premium paid under reinsurance contracts. Examples include, but are not limited to, settled and unsettled claims, incurred but not reported losses, loss adjustment expense, premium paid, policy benefits and policy reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
REINSURANCE (Details - Reinsurance Security) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
|---|---|---|
| Reinsurance Security | ||
| Reinsurance assets | $ 19,676 | $ 21,686 |
|
Secured
|
||
| Reinsurance Security | ||
| Reinsurance assets | 6,200 | 6,000 |
|
Unsecured
|
||
| Reinsurance Security | ||
| Reinsurance assets | $ 3,300 | $ 0 |
| X | ||||||||||
|
- Definition
Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the increase (decrease) in deferred policy acquisition costs due to net unrealized gains and losses on available for sale securities. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the increase (decrease) in deferred policy acquisition costs due to foreign currency translation during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the increase (decrease) in deferred policy acquisition costs due to foreign currency translation and other adjustments during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the unamortized portion as of the balance sheet date of capitalized acquisition costs that are related directly to the successful acquisition of new and renewal insurance contracts before considering consolidation and eliminations. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the increase (decrease) in deferred policy acquisition costs due to other adjustments not otherwise defined in the taxonomy during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Estimated percentage of the remaining ending balance as of the most recent fiscal year-end of the intangible assets arising from insurance contracts acquired in a business combination to be amortized after the fifth year following the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of expense related to deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization of deferred policy acquisition costs due to unrealized investment gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total amount of policy acquisition costs capitalized during the income statement period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of the intangible assets from insurance contracts acquired in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Estimated percentage of the remaining ending balance as of the most recent fiscal year-end of the intangible assets arising from insurance contracts acquired in a business combination to be amortized in the fifth year following that balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Estimated percentage of the remaining ending balance as of the most recent fiscal year-end of the intangible assets arising from insurance contracts acquired in a business combination to be amortized in the fourth year following that balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Estimated percentage of the remaining balance as of the most recent fiscal year-end of the intangible assets arising from insurance contracts acquired in a business combination to be amortized in the first year following that balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Estimated percentage of the remaining ending balance as of the most recent fiscal year-end of the intangible assets arising from insurance contracts acquired in a business combination to be amortized in the third year following that balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Estimated percentage of the remaining ending balance as of the most recent fiscal year-end of the intangible assets arising from insurance contracts acquired in a business combination to be amortized in the second year following that balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total increase or decrease in carrying amount for the period of the intangible assets arising from insurance contracts acquired in a business combination. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of the intangible assets arising from insurance contracts acquired in a business combination that was amortized during the period, generally in proportion to related revenue earned, estimated gross profits, or over the customer relationship or some other period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
|
VARIABLE INTEREST ENTITIES (Details) (USD $)
|
12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2014
Real Estate and Investment Funds
|
Dec. 31, 2013
Real Estate and Investment Funds
|
Dec. 31, 2014
Structured Investment Vehicles
Minimum
|
Dec. 31, 2013
Structured Investment Vehicles
Minimum
|
Dec. 31, 2014
Affordable Housing Partnerships
SunAmerica Affordable Housing Partners, Inc.
item
|
Dec. 31, 2014
Commercial loans vehicles VIE
SunAmerica Affordable Housing Partners, Inc.
|
Dec. 31, 2013
Commercial loans vehicles VIE
SunAmerica Affordable Housing Partners, Inc.
|
Dec. 31, 2014
Consolidated VIE
|
Dec. 31, 2013
Consolidated VIE
|
Dec. 31, 2014
Consolidated VIE
Real Estate and Investment Funds
|
Dec. 31, 2013
Consolidated VIE
Real Estate and Investment Funds
|
Dec. 31, 2014
Consolidated VIE
Securitization Vehicles
|
Dec. 31, 2013
Consolidated VIE
Securitization Vehicles
|
Dec. 31, 2014
Consolidated VIE
Structured Investment Vehicles
|
Dec. 31, 2013
Consolidated VIE
Structured Investment Vehicles
|
Dec. 31, 2014
Consolidated VIE
Affordable Housing Partnerships
|
Dec. 31, 2013
Consolidated VIE
Affordable Housing Partnerships
|
Dec. 31, 2014
Consolidated VIE
Other
|
Dec. 31, 2013
Consolidated VIE
Other
|
Dec. 31, 2014
Consolidated VIE
Commercial loans vehicles VIE
SunAmerica Affordable Housing Partners, Inc.
item
|
Dec. 31, 2014
Consolidated VIE
Aircraft Trusts
SunAmerica Affordable Housing Partners, Inc.
|
Dec. 31, 2013
Consolidated VIE
Aircraft Trusts
SunAmerica Affordable Housing Partners, Inc.
|
Dec. 31, 2014
Unconsolidated VIE
|
Dec. 31, 2013
Unconsolidated VIE
|
Dec. 31, 2014
Unconsolidated VIE
Real Estate and Investment Funds
|
Dec. 31, 2013
Unconsolidated VIE
Real Estate and Investment Funds
|
Dec. 31, 2014
Unconsolidated VIE
Affordable Housing Partnerships
|
Dec. 31, 2013
Unconsolidated VIE
Affordable Housing Partnerships
|
Dec. 31, 2014
Unconsolidated VIE
Other
|
Dec. 31, 2013
Unconsolidated VIE
Other
|
|
| Assets: | ||||||||||||||||||||||||||||||||
| Bonds available for sale | $ 264,254,000,000 | $ 261,930,000,000 | $ 11,187,000,000 | $ 11,098,000,000 | $ 11,152,000,000 | $ 11,028,000,000 | $ 35,000,000 | $ 70,000,000 | ||||||||||||||||||||||||
| Other bond securities | 19,712,000,000 | 22,623,000,000 | 7,906,000,000 | 8,310,000,000 | 7,251,000,000 | 7,449,000,000 | 615,000,000 | 748,000,000 | 40,000,000 | 113,000,000 | ||||||||||||||||||||||
| Mortgage and other loans receivable | 24,990,000,000 | 20,765,000,000 | 2,560,000,000 | 1,697,000,000 | 2,398,000,000 | 1,508,000,000 | 162,000,000 | 189,000,000 | ||||||||||||||||||||||||
| Other invested assets | 34,518,000,000 | 28,659,000,000 | 2,941,000,000 | 3,628,000,000 | 577,000,000 | 849,000,000 | 651,000,000 | 763,000,000 | 1,684,000,000 | 1,986,000,000 | 29,000,000 | 30,000,000 | 3,200,000,000 | 2,800,000,000 | ||||||||||||||||||
| Other assets | 1,752,000,000 | 1,279,000,000 | 40,000,000 | 49,000,000 | 1,447,000,000 | 1,014,000,000 | 140,000,000 | 93,000,000 | 49,000,000 | 41,000,000 | 76,000,000 | 82,000,000 | ||||||||||||||||||||
| Total assets | 0 | 800,000,000 | 313,000,000 | 360,000,000 | 26,346,000,000 | 26,012,000,000 | 617,000,000 | 898,000,000 | 22,899,000,000 | 21,762,000,000 | 755,000,000 | 841,000,000 | 1,733,000,000 | 2,027,000,000 | 342,000,000 | 484,000,000 | 800,000,000 | 900,000,000 | ||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Long-term debt | 31,217,000,000 | 41,693,000,000 | 1,697,000,000 | 994,000,000 | 69,000,000 | 71,000,000 | 1,370,000,000 | 626,000,000 | 52,000,000 | 87,000,000 | 199,000,000 | 188,000,000 | 7,000,000 | 22,000,000 | ||||||||||||||||||
| Other liabilities | 446,000,000 | 555,000,000 | 32,000,000 | 31,000,000 | 276,000,000 | 225,000,000 | 101,000,000 | 83,000,000 | 37,000,000 | 216,000,000 | ||||||||||||||||||||||
| Total liabilities | 53,000,000 | 117,000,000 | 2,143,000,000 | 1,549,000,000 | 101,000,000 | 102,000,000 | 1,646,000,000 | 851,000,000 | 52,000,000 | 87,000,000 | 300,000,000 | 271,000,000 | 44,000,000 | 238,000,000 | 100,000,000 | 200,000,000 | ||||||||||||||||
| Investment-grade debt securities, loans and other assets | 21,900,000,000 | 21,800,000,000 | ||||||||||||||||||||||||||||||
| Off-balance sheet exposure | 56,400,000,000 | 50,800,000,000 | ||||||||||||||||||||||||||||||
| Total assets of unconsolidated VIEs as well as maximum exposure to loss | ||||||||||||||||||||||||||||||||
| Total VIE Assets | 28,477,000,000 | 26,839,000,000 | 19,949,000,000 | 17,572,000,000 | 7,911,000,000 | 8,559,000,000 | 617,000,000 | 708,000,000 | ||||||||||||||||||||||||
| Maximum Exposure to Loss, On-Balance Sheet | 3,242,000,000 | 2,857,000,000 | 2,785,000,000 | 2,343,000,000 | 425,000,000 | 477,000,000 | 32,000,000 | 37,000,000 | ||||||||||||||||||||||||
| Maximum Exposure to Loss, Off-Balance Sheet | 454,000,000 | 289,000,000 | 454,000,000 | 289,000,000 | ||||||||||||||||||||||||||||
| Total maximum exposure to loss | 292,000,000 | 330,000,000 | 3,696,000,000 | 3,146,000,000 | 3,239,000,000 | 2,632,000,000 | 425,000,000 | 477,000,000 | 32,000,000 | 37,000,000 | ||||||||||||||||||||||
| Other invested assets | 34,518,000,000 | 28,659,000,000 | 2,941,000,000 | 3,628,000,000 | 577,000,000 | 849,000,000 | 651,000,000 | 763,000,000 | 1,684,000,000 | 1,986,000,000 | 29,000,000 | 30,000,000 | 3,200,000,000 | 2,800,000,000 | ||||||||||||||||||
| Number of partnerships through which investments has been made in apartment units nationwide | 900 | |||||||||||||||||||||||||||||||
| Number of apartment units nationwide in which investment for developments has been made | 110,000 | |||||||||||||||||||||||||||||||
| Partnership equity syndicated to other investors | $ 7,700,000,000 | |||||||||||||||||||||||||||||||
| Number of VIEs | 1 |
| X | ||||||||||
|
- Definition
The reporting entity's amount of exposure to loss not recorded on the balance sheet. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of investments in debt securities. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the carrying amounts of other asset accounts recorded in the balance sheet but not itemized separately in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the carrying amounts of other liability accounts recorded in the balance sheet but not itemized separately in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The reporting entity's maximum amount of exposure to loss related to commitments and guarantees provided to the Variable Interest Entity (VIE), not recorded on the balance sheet. No definition available.
|
| X | ||||||||||
|
- Definition
The reporting entity's maximum amount of exposure to loss as a result of its purchased and retained interests in the Variable Interest Entity (VIE), recorded on the balance sheet. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of Variable Interest Entities (VIE) of the entity. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of apartment units nationwide in which investment for developments has been made. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of partnerships through which investments has been made in apartment units nationwide. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the partnership equity syndicated to other investors who will receive, among other benefits, tax credits under certain sections of the internal revenue code. No definition available.
|
| X | ||||||||||
|
- Definition
Size of the Variable Interest Entity, measured by total assets. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after allowance and deduction of deferred interest and fees, unamortized costs and premiums and discounts from face amounts, of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Excludes loans and leases covered under loss sharing agreements and loans held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of investments in debt securities classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount of the consolidated Variable Interest Entity's assets included in the reporting entity's statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount of the consolidated Variable Interest Entity's liabilities included in the reporting entity's statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The reporting entity's maximum amount of exposure to loss as a result of its involvement with the Variable Interest Entity (VIE). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Nominal or face amount used to calculate payments on the derivative asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Nominal or face amount used to calculate payments on the derivative liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The fair value as of the balance sheet date of all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments including embedded derivatives, net of the effects of master netting arrangements. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of collateral obtained from third parties related to derivative transactions. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments including embedded derivatives, net of the effects of master netting arrangements. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate fair value of assets that are already posted, at the end of the reporting period, as collateral for derivative instruments with credit-risk-related contingent features. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of obligation to return cash collateral under master netting arrangements offset against derivative assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of liability associated with financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Nominal or face amount used to calculate payments on the derivative asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of right to receive cash collateral under master netting arrangements offset against derivative liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of asset associated with financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Nominal or face amount used to calculate payments on the derivative liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The reclassification from accumulated other comprehensive income to earnings on cash flow hedges following the discontinuation of hedge accounting treatment due to discontinued operations classification. No definition available.
|
| X | ||||||||||
|
- Definition
Other amount of gain (loss) derived from fair value hedges recognized in earnings in the period. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the increase (decrease) in fair value of the hedged item in a fair value hedge recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Net Increase or Decrease in the fair value of the embedded derivative or group of embedded derivatives included in earnings in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net gain (loss) relating to components of the gain (loss) on the fair value hedging instrument excluded from the assessment of fair value hedge effectiveness. Recognized in earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss)recognized in the income statement from the hedging ineffectiveness of a fair value hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Current period adjustment resulting from gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity, gross of tax effect. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The additional amount paid for credit default swaps terminated by the entity during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
The net unhedged position which represents the maximum exposure to loss. No definition available.
|
| X | ||||||||||
|
- Definition
Par value as of the balance sheet date of hybrid instruments. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the obligation to make payments on the embedded credit derivatives in the related hybrid instruments. No definition available.
|
| X | ||||||||||
|
- Definition
The net notional amount of credit default swaps terminated by the entity during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
The net notional amount of credit default swaps purchased as offsets as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The net notional amount of credit default swaps written on the super senior tranches of collateralized loan obligations as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The value of securities collateral posted for derivative instruments that is reflected in the balance sheet. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value of credit risk derivative liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair values as of the balance sheet date of the net amount of all assets and liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Average remaining period until maturity of the derivative contract, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate fair value amounts of derivative instruments that contain credit-risk-related contingent features that are in a net liability position at the end of the reporting period. For nonderivative instruments that are designated and qualify as hedging instruments, the fair value amounts are the carrying value of the nonderivative hedging instrument, including the adjustment for the foreign currency transaction gain (loss) on that instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of hybrid instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
GOODWILL (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
item
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2014
Reportable Segments
Total AIG Property Casualty
|
Dec. 31, 2013
Reportable Segments
Total AIG Property Casualty
|
Dec. 31, 2014
Reportable Segments
Commercial
|
Dec. 31, 2013
Reportable Segments
Commercial
|
Dec. 31, 2012
Reportable Segments
Commercial
|
Dec. 31, 2014
Reportable Segments
Consumer
|
Dec. 31, 2012
Reportable Segments
Consumer
|
Dec. 31, 2013
Other
|
Dec. 31, 2014
Other
|
Dec. 31, 2011
Other
|
|
| Goodwill Disclosure | |||||||||||||
| Number of steps involved in process of impairment test | 2 | ||||||||||||
| Goodwill | |||||||||||||
| Goodwill - gross | $ 4,952 | $ 4,946 | $ 4,850 | $ 2,450 | $ 2,444 | $ 2,450 | $ 2,444 | $ 2,325 | $ 2,502 | $ 2,502 | $ 0 | $ 0 | $ 23 |
| Accumulated impairments | (3,477) | (3,477) | (3,477) | (1,266) | (1,266) | (1,266) | (1,266) | (1,266) | (2,211) | (2,211) | 0 | 0 | 0 |
| Net goodwill | 1,475 | 1,469 | 1,373 | 1,184 | 1,178 | 1,184 | 1,178 | 1,059 | 291 | 291 | 0 | 0 | 23 |
| Increase (decrease) due to: | |||||||||||||
| Acquisition | 119 | 119 | 28 | 28 | |||||||||
| Other | 49 | 6 | (23) | 49 | 6 | (49) | 6 | (23) | |||||
| Goodwill - gross | 4,931 | 4,952 | 4,946 | 2,401 | 2,450 | 2,401 | 2,450 | 2,444 | 2,530 | 2,502 | 0 | 0 | 23 |
| Accumulated impairments | (3,477) | (3,477) | (3,477) | (1,266) | (1,266) | (1,266) | (1,266) | (1,266) | (2,211) | (2,211) | 0 | 0 | 0 |
| Net goodwill | $ 1,454 | $ 1,475 | $ 1,469 | $ 1,135 | $ 1,184 | $ 1,135 | $ 1,184 | $ 1,178 | $ 319 | $ 291 | $ 0 | $ 0 | $ 23 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the number of steps involved in the process of impairment test. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount before accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of accumulated impairment loss for an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of other (increase) decrease of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the amount of discount accreted to the prior years' liability for unpaid claims and claims adjustment expense. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of collateral held for subrogation. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the impact of foreign currency on the liability for unpaid claims and claims adjustment expense. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the impact of foreign currency on the liability for unpaid claims and claims adjustment expense. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of gross loss reserves before reinsurance and discount, net of subrogation as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of provision in the period for claims incurred in prior reporting periods and related claims settlement costs, excluding accretion of discount. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the total liability as of the balance sheet date for amounts representing the estimated cost of settling unpaid claims under the terms of the underlying insurance policies, less estimated reinsurance recoveries on such claims. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the decrease in the liability for unpaid claims and claims adjustment expense due to reinsurance transaction. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the decrease in the liability for unpaid claims and claims adjustment expense due to deconsolidation or dispositions. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of adjustment for loss-sensitive business included in the adjustment expense for claims incurred in prior. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount reclassified from foreign exchange effect and loss and loss expenses paid components of liability for unpaid claims and claims adjustment expense. No definition available.
|
| X | ||||||||||
|
- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total amount of payments made during the reporting period to settle insured claims and pay costs incurred in the claims settlement process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of payments made in the reporting period to settle claims incurred in the current period and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of payments made in the reporting period to settle claims incurred in prior periods and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total provision in the period for claims incurred and costs incurred in the claim settlement process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of provision in the period for claims incurred in the reporting period and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Liability as of the balance sheet date for amounts representing estimated cost of settling unpaid claims under the terms of the underlying insurance policies, less estimated reinsurance recoveries on such claims. This includes an estimate for claims which have been incurred but not reported. Claim adjustment expenses represent the costs estimated to be incurred in the settlement of unpaid claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after valuation allowance recoverable including premium paid under reinsurance contracts. Examples include, but are not limited to, settled and unsettled claims, incurred but not reported losses, loss adjustment expense, premium paid, policy benefits and policy reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INSURANCE LIABILITIES (Details - Discounting of Reserves) (USD $)
|
3 Months Ended | 12 Months Ended |
|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2014
|
|
| Discounting of Reserves [Line Items] | ||
| Net loss reserve discount | $ 3,100,000,000 | $ 3,100,000,000 |
| Tabular discount rate | 3.50% | |
|
Property Casualty
|
||
| Discounting of Reserves [Line Items] | ||
| Discount for workers' compensation | 852,000,000 | 852,000,000 |
| Discount for workers' compensation | 2,200,000,000 | 2,200,000,000 |
| Discount for asbestos | $ 11,000,000 | $ 11,000,000 |
|
New York
|
||
| Discounting of Reserves [Line Items] | ||
| Nontabular discount rate | 0.00% | |
| Discount rate | 5.00% | |
|
Pennsylvania
|
||
| Discounting of Reserves [Line Items] | ||
| Nontabular discount rate | 0.00% | |
|
Pennsylvania | Accident year 2001 and prior
|
||
| Discounting of Reserves [Line Items] | ||
| Discount rate | 6.00% | |
|
Pennsylvania | Accident year 2002 and subsequent years
|
||
| Discounting of Reserves [Line Items] | ||
| Discount rate | 4.25% |
| X | ||||||||||
|
- Definition
Current year monetary amount of the change in asbestos reserve liability resulting from the discount applied to reduce the reserve to present value. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the discount of loss reserves to present value for claims that won't be paid for an extended period of time. No definition available.
|
| X | ||||||||||
|
- Definition
Current year monetary amount of the change in worker's compensation non tabular reserve liability resulting from the discount applied to reduce the reserve to present value. No definition available.
|
| X | ||||||||||
|
- Definition
Current year monetary amount of the change in worker's compensation tabular reserve liability resulting from the discount applied to reduce the reserve to present value. No definition available.
|
| X | ||||||||||
|
- Definition
For non tabular calculations of the workers compensation reserve, the percent discount applied to worker's compensation reserve liability to reduce the reserve to present value. No definition available.
|
| X | ||||||||||
|
- Definition
For tabular calculations of the workers compensation reserve, the percent discount applied to worker's compensation reserve liability to reduce the reserve to present value. No definition available.
|
| X | ||||||||||
|
- Definition
Percent discount applied to worker's compensation reserve liability to reduce the reserve to present value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INSURANCE LIABILITIES (Details - Future Policy Benefits) (Life)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2014
|
|
|
Life
|
|
| Assumptions for liability for future life policy benefits | |
| Interest rates (exclusive of immediate/terminal funding annuities), low end of range (as a percent) | 1.00% |
| Interest rates (exclusive of immediate/terminal funding annuities), high end of range (as a percent) | 12.00% |
| X | ||||||||||
|
- Definition
Maximum interest rate in the range of interest rates used to calculate future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and cost of settling insured claims and cost incurred in the claim settlement process exclusive of immediate terminal funding annuities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Minimum interest rate in the range of interest rates used to calculate future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and cost of settling insured claims and cost incurred in the claim settlement process exclusive of immediate terminal funding annuities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents Guaranteed Investment Contracts issued in conjunction with funding agreement-backed notes program. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Ratio with total life insurance premiums in numerator and total GAAP premiums in the denominator. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This percent places participating policies in the numerator and insurance contracts in force in the denominator. Participating insurance contracts allow policyholders to share in the experience of the entity, primarily through policy dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The liability as of the balance sheet date to the policyholders for deposits held under the terms of insurance contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value amount of the specified investment category of assets maintained in separate accounts as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the maximum number of stochastically generated investment performance scenarios. No definition available.
|
| X | ||||||||||
|
- Definition
Value of the separate and general accounts corresponding to the specified product, guarantee type and subset of the guarantee. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of the assets less the liabilities of a derivative or group of derivatives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of guaranteed minimum benefit payments to policyholders and contract holders, during the period presented, resulting in a decrease to the liability for expected guaranteed minimum benefits in excess of projected account values. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of expected guaranteed benefits in excess of the projected account balances for minimum guaranteed benefit contracts, as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of guaranteed minimum benefit expense incurred for expected guaranteed minimum benefits in excess of projected account values. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Percentage discount rate at the high end of a range of reasonable estimates used to calculate present value of an expected stream of future payments, which is included in the calculation of the amount of the specified guaranteed benefit obligation as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage discount rate at the low end of a range of reasonable estimates used to calculate present value of an expected stream of future payments, which is included in the calculation of the amount of the specified guaranteed benefit obligation as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Estimated rate of return on investments at the high end of a range of reasonable estimates which is included in the calculation of the amount of the specified guaranteed benefit obligation as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Anticipated rate of future terminations of contracts in force as of the balance sheet date at the high end of the range of reasonable estimates, which is included in determining the amount of the specified guaranteed benefit obligation as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Anticipated rate of future terminations of contracts in force as of the balance sheet date at the low end of the range of reasonable estimates, which is included in determining the amount of the specified guaranteed benefit obligation as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Actuarially determined death rate of policyholders at the high end of the range of reasonable estimates, which is included in determining the amount of the specified guaranteed benefit obligation as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Actuarially determined death rate of policyholders at the low end of the range of reasonable estimates, which is included in determining the amount of the specified guaranteed benefit obligation as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage rate that is indicative of an expected degree of movement against a base line index, and which is included in determining the amount of the specified guaranteed benefit obligation as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Net amount at risk, representing the guaranteed benefit in excess of the current account balance corresponding to the specified product, guarantee type and subset of the guarantee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Describes the range of guaranteed minimum return rates, in percentages. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average attained age of policyholders or contract holders in the specified guarantee type and subset of guarantee class, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts but excluding borrowings of consolidated investments. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. No definition available.
|
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings of consolidated investments as of the balance sheet date. May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the total uncollateralized and collateralized notes, bonds, loans and mortgages payable. No definition available.
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Minimum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the period prior to the date of repayment, redemption or purchase within which a specified amount of net cash proceeds is to be received. No definition available.
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Percentage price of original principal amount of debt at which debt can be redeemed by the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
DEBT (Details - AIGLH Junior subordinated debentures) (Borrowings supported by assets, AIGLH, USD $)
In Millions, unless otherwise specified |
Jul. 11, 2013
|
|---|---|
|
8.5 percent Junior subordinated debentures due July 2030
|
|
| Debt Instrument [Line Items] | |
| Junior subordinated debentures liquidation value | $ 155 |
| Interest rate (as a percent) | 8.50% |
|
8.125 percent Junior subordinated debentures due March 2046
|
|
| Debt Instrument [Line Items] | |
| Junior subordinated debentures liquidation value | 245 |
| Interest rate (as a percent) | 8.125% |
|
7.57 percent Junior subordinated debentures due December 2045
|
|
| Debt Instrument [Line Items] | |
| Junior subordinated debentures liquidation value | $ 136 |
| Interest rate (as a percent) | 7.57% |
| X | ||||||||||
|
- Definition
Represents the amount of the liquidation value for junior subordinated debentures. No definition available.
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
DEBT (Details - Credit facilities) (5-Year Syndicated Facility, USD $)
In Millions, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2014
|
|
|
5-Year Syndicated Facility
|
|
| Schedule of Debt Instruments [Line Items] | |
| Line of credit facilities, term of credit agreements | 5 years |
| Maximum borrowing capacity | $ 4,000 |
| Remaining borrowing capacity | 4,000 |
| Letter of credit sublimit | 0 |
| Letter of credit outstanding | $ 0 |
| X | ||||||||||
|
- Definition
The term of the credit agreements relating to credit facilities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Loss Contingencies) (USD $)
|
0 Months Ended | 12 Months Ended | 0 Months Ended | 22 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 17, 2010
item
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 17, 2010
|
Nov. 29, 2012
Chartis U.S.
item
|
Apr. 08, 2013
UGC
|
Oct. 22, 2014
Consolidated 2008 Securities Litigation
|
Jul. 15, 2014
Consolidated 2008 Securities Litigation
|
Sep. 16, 2013
Consolidated 2008 Securities Litigation
item
|
Mar. 20, 2009
Consolidated 2008 Securities Litigation
complaint
|
Jan. 06, 2015
ERISA Litigation II
|
Nov. 25, 2008
ERISA Litigation II
complaint
|
Dec. 31, 2014
Canadian Securities Class Action claim
|
Nov. 15, 2013
Starr International Litigation
item
|
Mar. 11, 2013
Starr International Litigation
class
|
Nov. 21, 2011
Starr International Litigation
|
May 23, 2014
False Claims Act complaint
item
|
Oct. 29, 2013
False Claims Act complaint
|
Feb. 25, 2010
False Claims Act complaint
individual
|
Dec. 31, 2014
False Claims Act complaint
multiple
|
May 23, 2014
False Claims Act complaint
FRBNY Credit Facility
|
Dec. 31, 2014
Caremark
complaint
|
Sep. 30, 2012
Use of SSDMF
|
Oct. 31, 2014
Subpoenas from the New York Department of Financial Services (NYDFS)
|
Dec. 31, 2014
Subpoenas from the New York Department of Financial Services (NYDFS)
MetLife Inc. (MetLife)
|
Dec. 31, 2014
Subpoenas from the Manhattan District Attorney's Office (NYDA)
MetLife Inc. (MetLife)
|
|
| LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS | ||||||||||||||||||||||||||
| Number of purported class action complaints | 8 | 8 | 2 | |||||||||||||||||||||||
| Payment for legal settlement | $ 960,000,000 | |||||||||||||||||||||||||
| Number of similar actions | 9 | |||||||||||||||||||||||||
| Damages claimed | 500,000,000 | 3,200,000,000 | ||||||||||||||||||||||||
| Punitive damages claimed | 50,000,000 | |||||||||||||||||||||||||
| Percentage of ownership in AIG received by Department of the Treasury | 80.00% | |||||||||||||||||||||||||
| Number of individuals (Relators) seeking to assert claims | 2 | |||||||||||||||||||||||||
| Damages sought, multiple of damages sustained | 3 | |||||||||||||||||||||||||
| Number of purported classes | 2 | |||||||||||||||||||||||||
| Number of shareholders who have submitted timely and valid requests to opt into the class | 286,908 | |||||||||||||||||||||||||
| Payments for regulatory assessment | 11,000,000 | |||||||||||||||||||||||||
| Settlement agreement, number of jurisdictions | 50 | |||||||||||||||||||||||||
| Civil penalty paid | 50,000,000 | 4,500,000 | ||||||||||||||||||||||||
| Number of states participating in the accident and health products examination | 50 | |||||||||||||||||||||||||
| Civil penalty payable | 100,000,000 | |||||||||||||||||||||||||
| Increase in the estimated reserves for incurred but not reported death claims | 507,000,000 | 391,000,000 | ||||||||||||||||||||||||
| Portion of payments which represented fines and penalties | 46,500,000 | |||||||||||||||||||||||||
| Payment released workers compensation escrow accounts in satisfaction of fines, penalties and premium tax obligations | 150,000,000 | |||||||||||||||||||||||||
| Cash settlement Amount | 960,000,000 | 40,000,000 | 35,000,000 | 50,000,000 | 10,000,000 | |||||||||||||||||||||
| Realized gains on unwinding on a position | 196,000,000 | |||||||||||||||||||||||||
| Number Of Former Subsidiaries | 2 | |||||||||||||||||||||||||
| Period for which complaint is unsealed | 30 days | |||||||||||||||||||||||||
| Decrease in the amount owed to the FRBNY | $ 25,000,000,000 | |||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Represents the approximate percentage of equity ownership of the entity which the Department of the Treasury has received in return for the assistance provided to the entity by the government. No definition available.
|
| X | ||||||||||
|
- Definition
Gain (loss) related to the termination of a contract between the parties. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the increase or decrease during the period in the estimated costs as of the balance sheet date of settling insured claims and costs incurred in the claims settlement process for claims that have not yet been submitted to the insurance company for reimbursement. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of civil penalty which the entity has agreed to pay as per the consent order passed under the multi-state examination of certain accident and health products, including travel products. No definition available.
|
| X | ||||||||||
|
- Definition
The multiple of damages sustained which the complaint seeks. No definition available.
|
| X | ||||||||||
|
- Definition
The number of separate purported classes in the class action complaint. No definition available.
|
| X | ||||||||||
|
- Definition
The number of similar securities actions which have not been consolidated in this litigation. No definition available.
|
| X | ||||||||||
|
- Definition
Number of states participating in multi-state examination of certain accident and health products issued by a subsidiary. No definition available.
|
| X | ||||||||||
|
- Definition
Represents payment released from the workers compensation escrow accounts in satisfaction of fines, penalties and premium tax obligations, which occurred as a result of the regulatory settlement relating to workers compensation premium reporting issues . No definition available.
|
| X | ||||||||||
|
- Definition
The portion of payments made for a loss contingency which represented fines and penalties. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the period for which complaint is unsealed upon the order of the District Court. No definition available.
|
| X | ||||||||||
|
- Definition
The value (monetary amount) of the award the plaintiff seeks for punitive damages in the legal matter. No definition available.
|
| X | ||||||||||
|
- Definition
The number of purported class action complaints consolidated in named litigation. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of civil penalty paid by entity as per the consent order passed under the multi-state examination of certain accident and health products, including travel products. No definition available.
|
| X | ||||||||||
|
- Definition
The number of jurisdictions which agreed to the settlement agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of former subsidiaries. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of shareholders who have opted into the class. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the payments made for regulatory assessment to the various state insurance departments to defray costs of their examinations and monitoring. No definition available.
|
| X | ||||||||||
|
- Definition
Net increase or decrease in the carrying amount of the credit facility for the period for reasons other than accrued, but unpaid interest, additional borrowings, repayments, and forgiveness. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of judgment or settlement awarded to (against) the entity in respect of litigation. No definition available.
|
| X | ||||||||||
|
- Definition
The value (monetary amount) of the award the plaintiff seeks in the legal matter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of plaintiffs that have filed claims pertaining to a loss contingency. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of cash paid for the settlement of litigation or for other legal issues during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Long term purchase commitments) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Future minimum lease payments under operating leases | |||
| 2015 | $ 349 | ||
| 2016 | 265 | ||
| 2017 | 191 | ||
| 2018 | 136 | ||
| 2019 | 98 | ||
| Remaining years after 2019 | 265 | ||
| Total | 1,304 | ||
| Rent expense | 471 | 414 | 445 |
|
Held for sale
|
|||
| Future minimum lease payments under operating leases | |||
| Rent expense | $ 7 | $ 15 | $ 16 |
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the next fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the fifth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the forth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the third fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing in the second fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments maturing after the fifth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONTINGENCIES, COMMITMENTS AND GUARANTEES (Details - Guarantor Obligations) (ALICO, USD $)
In Millions, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2014
|
|
| Guarantor Obligations [Line Items] | |
| Payments made or placed in escrow accounts at end of period | $ 0 |
|
Indemnifications
|
|
| Guarantor Obligations [Line Items] | |
| Various deductible amounts under indemnifications | $ 0 |
| X | ||||||||||
|
- Definition
The designation of funds furnished by a borrower to a lender to assure future payments of the borrower's real estate taxes and insurance obligations with respect to a mortgaged property. Escrow deposits may be made for a variety of other purposes such as earnest money and contingent payments. This element excludes replacement reserves which are an escrow separately provided for within the US GAAP taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of loss pertaining to the specified contingency that was charged against earnings in the period, including the effects of revisions in previously reported estimates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
EQUITY (Details - Shares Outstanding)
|
1 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|
|
Sep. 30, 2012
|
Aug. 31, 2012
|
May 31, 2012
|
Mar. 31, 2012
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| The following table presents a roll forward of outstanding shares: | |||||||
| Shares, beginning of year | (442,582,366) | ||||||
| Shares, beginning of year | 1,906,645,689 | ||||||
| Shares, beginning of year | 1,464,063,323 | 1,476,321,935 | 1,896,821,482 | ||||
| Issuances (in shares) | 41,551 | 58,787 | 729,308 | ||||
| Shares repurchased | (88,177,903) | (12,317,399) | (421,228,855) | ||||
| Shares, end of period | (530,744,521) | (442,582,366) | |||||
| Shares, end of period | 1,906,671,492 | 1,906,645,689 | |||||
| Shares, end of period | 1,375,926,971 | 1,464,063,323 | 1,476,321,935 | ||||
|
Common Stock Issued
|
|||||||
| The following table presents a roll forward of outstanding shares: | |||||||
| Shares, beginning of year | 1,906,645,689 | 1,906,611,680 | 1,906,568,099 | ||||
| Issuances (in shares) | 25,803 | 34,009 | 43,581 | ||||
| Shares, end of period | 1,906,671,492 | 1,906,645,689 | 1,906,611,680 | ||||
|
Treasury Stock
|
|||||||
| The following table presents a roll forward of outstanding shares: | |||||||
| Shares, beginning of year | 442,582,366 | 430,289,745 | 9,746,617 | ||||
| Issuances (in shares) | 15,748 | (24,778) | (685,727) | ||||
| Shares repurchased | (153,846,153) | (98,360,656) | (65,573,770) | (103,448,276) | (88,177,903) | (12,317,399) | (421,228,855) |
| Shares, end of period | 530,744,521 | 442,582,366 | 430,289,745 | ||||
|
Equity Units
|
|||||||
| The following table presents a roll forward of outstanding shares: | |||||||
| Shares, end of period | 0 | ||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
EQUITY (Details - Share repurchases) (USD $)
|
0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 20 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 18, 2014
|
Sep. 25, 2014
|
Jun. 24, 2014
|
Mar. 25, 2014
|
Aug. 01, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
May 31, 2011
|
Dec. 31, 2014
Accelerated Share Repurchase Agreement [Member]
|
May 31, 2011
AIG
|
Jan. 31, 2015
AIG
Accelerated Share Repurchase Agreement [Member]
item
|
Dec. 31, 2012
Common Stock
|
Sep. 30, 2012
Common Stock
|
Aug. 31, 2012
Common Stock
|
May 31, 2012
Common Stock
|
Mar. 31, 2012
Common Stock
|
Nov. 30, 2011
Common Stock
|
Dec. 31, 2014
Common Stock
|
Dec. 31, 2012
Common Stock
|
Dec. 31, 2012
Common Stock
|
Dec. 31, 2013
Common Stock
|
Dec. 31, 2011
Common Stock
|
Jan. 31, 2015
Common Stock
Accelerated Share Repurchase Agreement [Member]
|
Dec. 31, 2014
Common Stock
Accelerated Share Repurchase Agreement [Member]
|
Sep. 30, 2012
Treasury Stock
|
Aug. 31, 2012
Treasury Stock
|
May 31, 2012
Treasury Stock
|
Mar. 31, 2012
Treasury Stock
|
Dec. 31, 2014
Treasury Stock
|
Dec. 31, 2013
Treasury Stock
|
Dec. 31, 2012
Treasury Stock
|
Dec. 31, 2011
Treasury Stock
|
Dec. 31, 2012
Equity Units
item
|
|
| Rollforward of preferred stock | |||||||||||||||||||||||||||||||||||
| Dividend paid (in dollars per share) | $ 0.125 | $ 0.125 | $ 0.125 | $ 0.125 | |||||||||||||||||||||||||||||||
| Common stock authorized to be repurchased | $ 1,000,000,000 | $ 4,500,000,000 | |||||||||||||||||||||||||||||||||
| Aggregate purchase price of repurchased shares | 597,000,000 | 4,900,000,000 | |||||||||||||||||||||||||||||||||
| Share Issuances and Repurchases | |||||||||||||||||||||||||||||||||||
| Interest ownership by the Department of the Treasury before stock offering and sale (as a percent) | 92.00% | ||||||||||||||||||||||||||||||||||
| Common stock owned by the Department of the Treasury before public offering (in shares) | 1,700,000,000 | ||||||||||||||||||||||||||||||||||
| Initial public offering price (in dollars per share) | $ 32.5 | $ 32.5 | $ 30.5 | $ 30.5 | $ 29 | $ 32.5 | $ 32.5 | ||||||||||||||||||||||||||||
| Common stock sold by the Department of the Treasury (in shares) | 234,169,156 | 636,923,075 | 188,524,590 | 188,524,589 | 206,896,552 | 1,455,037,962 | |||||||||||||||||||||||||||||
| Proceeds from sale of common stock by the Department of the Treasury | 0 | 7,610,000,000 | 20,700,000,000 | 5,750,000,000 | 5,750,000,000 | 6,000,000,000 | 45,810,000,000 | ||||||||||||||||||||||||||||
| Shares repurchased (in shares) | 88,177,903 | 12,317,399 | 421,228,855 | 153,846,153 | 98,360,656 | 65,573,770 | 103,448,276 | 88,177,903 | 12,317,399 | 421,228,855 | |||||||||||||||||||||||||
| Shares repurchased | 4,698,000,000 | 597,000,000 | 13,000,000,000 | 0 | 5,000,000,000 | 3,000,000,000 | 2,000,000,000 | 3,000,000,000 | 4,698,000,000 | 597,000,000 | 13,000,000,000 | ||||||||||||||||||||||||
| Common stock issued by the Department of the Treasury (in shares) | 1,375,926,971 | 1,464,063,323 | 1,476,321,935 | 1,896,821,482 | 0 | ||||||||||||||||||||||||||||||
| Aggregate purchase amount | 0 | ||||||||||||||||||||||||||||||||||
| Equity Units | |||||||||||||||||||||||||||||||||||
| Number of series of debentures remarketed | 3 | ||||||||||||||||||||||||||||||||||
| Cash per equity unit exchange under stock purchase contract (in dollars per share) | $ 0 | ||||||||||||||||||||||||||||||||||
| Retirement of debentures | 0 | ||||||||||||||||||||||||||||||||||
| Common stock issued in connection with settlement of the stock purchase contract portion of the Equity Units (in shares) | 1,906,671,492 | 1,906,645,689 | 1,906,611,680 | 1,906,671,492 | 1,906,611,680 | 1,906,611,680 | 1,906,645,689 | 1,906,568,099 | 530,744,521 | 442,582,366 | 430,289,745 | 9,746,617 | 0 | ||||||||||||||||||||||
| Number of accelerated stock repurchase (ASR) agreements with third-party financial institutions | 5 | ||||||||||||||||||||||||||||||||||
| Percentage of share repurchased during share repurchase agreement | 70.00% | ||||||||||||||||||||||||||||||||||
| Number of shares received from financial institution | 53,000,000 | ||||||||||||||||||||||||||||||||||
| Amount paid to financial institution | $ 3,100,000,000 | ||||||||||||||||||||||||||||||||||
| Partial receipt of shares under an ASR agreement | 9,200,000 | ||||||||||||||||||||||||||||||||||
| Additional shares received from financial institution | 3,500,000,000 | ||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Number of accelerated stock repurchase (ASR) agreements with third-party financial institutions. No definition available.
|
| X | ||||||||||
|
- Definition
Partial receipt of shares under the accelerated share repurchases program. No definition available.
|
| X | ||||||||||
|
- Definition
Number of shares received on settlement of the accelerated share repurchases agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Accelerated Share Repurchases Shares Received No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of series of debentures remarketed by the entity. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of shares of the entity's common stock owned by the Department of the Treasury before public offering. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of shares of the entity's common stock sold by the Department of the Treasury. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage of ownership interest, held by the Department of the Treasury, before May 2011 common stock offering and sale, during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the proceeds from sale of shares of the entity's common stock sold by the Department of the Treasury. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the public offering price per share. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The monetary value to be exchanged per each equity unit under the stock purchase contract. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Number of notional share equivalent that have been partially received during the period and have not been retired and are not held in treasury No definition available.
|
| X | ||||||||||
|
- Definition
Amount of cash receipt from (payment to) bank; or stock received from (issuance to) bank in the settlement of the accelerated share repurchase agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount of debt extinguished. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of a stock repurchase plan authorized by an entity's Board of Directors. No definition available.
|
| X | ||||||||||
|
- Definition
Amount remaining of a stock repurchase plan authorized by an entity's Board of Directors. No definition available.
|
| X | ||||||||||
|
- Definition
Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Gross appreciation or the gross loss in value of the total of unsold available-for-sale securities, excluding reclassifications of unrealized gains or losses on available for sale securities for future policy benefits included in deferred acquisition costs. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount recorded in other comprehensive income due to the adjustment in deferred acquisition costs and other adjustments. No definition available.
|
| X | ||||||||||
|
- Definition
Before tax amount, net of reclassification adjustments, of the change in the value of the plan assets resulting from a change in actuarial assumptions. No definition available.
|
| X | ||||||||||
|
- Definition
Before tax amount, net of reclassification adjustments, of the change in prior service costs. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount recorded in other comprehensive income due to the unrealized appreciation of investments of future policyholder benefit reserves, partially offset in deferred acquisition costs and related reduction in deferred acquisition costs. No definition available.
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments, of (appreciation) loss in value of unsold available-for-sale securities, attributable to noncontrolling interest. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of (gain) loss on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit), after reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit), after reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit), after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of other comprehensive (income) loss attributable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax (expense) benefit, after reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit) allocated to other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of other than temporary impairment (OTTI) loss on investments in available-for-sale and held-to-maturity debt securities, recognized in other comprehensive loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of other than temporary impairment (OTTI) loss on investments in available-for-sale and held-to-maturity debt securities, recognized in other comprehensive loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit) for other than temporary impairment loss (OTTI) on investments in available-for-sale and held-to-maturity debt securities, recognized in other comprehensive loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit) of other than temporary impairment loss (OTTI) on investments in available-for-sale and held-to-maturity debt securities, recognized in other comprehensive income loss and attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Before tax amount of the income statement impact of the reclassification adjustment for unrealized (losses) realized upon the write-down and sale of available-for-sale securities. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of pre-tax reclassification adjustment arising during period included in net income. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of pre-tax unrealized change arising during period. No definition available.
|
| X | ||||||||||
|
- Definition
Before tax and reclassification adjustments amount of unrealized appreciation (depreciation) of debt instruments on which other-than-temporary impairments were taken. No definition available.
|
| X | ||||||||||
|
- Definition
Before tax amount of the income statement impact of the reclassification adjustment for unrealized (losses) realized upon the write-down and sale of fixed maturity investments with other than temporary impairments. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount before tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax and reclassification adjustments of unrealized holding gain (loss) on available-for-sale securities and unrealized holding gain (loss) related to transfers of securities into the available-for-sale classification and out of the held-to-maturity classification. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit), after reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit), after reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax of reclassification adjustment from accumulated other comprehensive income for translation gain (loss) realized upon the sale or liquidation of an investment in a foreign entity and foreign currency hedges that are designated and qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit), after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount before tax and reclassification adjustments of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax (expense) benefit, after reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax of reclassification adjustment from accumulated other comprehensive income (loss) for net transition asset (obligation) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit) allocated to other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of other than temporary impairment (OTTI) loss on investments in available-for-sale and held-to-maturity debt securities, recognized in other comprehensive loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of other than temporary impairment (OTTI) loss on investments in available-for-sale and held-to-maturity debt securities, recognized in other comprehensive loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of tax expense (benefit) for other than temporary impairment loss (OTTI) on investments in available-for-sale and held-to-maturity debt securities, recognized in other comprehensive loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
EQUITY (Details - Reclassification of significant items out of Accumulated other comprehensive income) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Other realized capital gains | $ 956 | $ 2,126 | $ 1,916 |
| Amortization of deferred acquisition costs | 5,330 | 5,157 | 5,709 |
| Policyholder benefits and losses incurred | 28,281 | 29,503 | 32,036 |
|
Amount Reclassified from Accumulated Other Comprehensive Income
|
|||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Total reclassifications for the period | 558 | 836 | |
|
Unrealized appreciation (depreciation) of fixed maturity investments on which other-than-temporary credit impairments were recognized | Amount Reclassified from Accumulated Other Comprehensive Income
|
|||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Other realized capital gains | 28 | 91 | |
| Total reclassifications for the period | 28 | 91 | |
|
Unrealized appreciation (depreciation) of all other investments | Amount Reclassified from Accumulated Other Comprehensive Income
|
|||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Other realized capital gains | 669 | 2,452 | |
| Amortization of deferred acquisition costs | (20) | (28) | |
| Policyholder benefits and losses incurred | (117) | (1,569) | |
| Total reclassifications for the period | 532 | 855 | |
|
Change in retirement plan liabilities adjustment | Amount Reclassified from Accumulated Other Comprehensive Income
|
|||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
| Prior-service costs | 47 | (47) | |
| Actuarial gains/(losses) | (49) | (157) | |
| Total reclassifications for the period | $ (2) | $ (110) | |
| X | ||||||||||
|
- Definition
This item represents the net realized and unrealized gains (losses), excluding impairment losses on available-for-sale securities, included in net income for the period as the result of selling or holding invested assets. This item includes the net gain or loss realized from the sale, exchange, redemption or retirement of securities and the unrealized holding gain or loss for certain invested assets. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of expense related to deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive income (loss) for actuarial gain (loss) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after tax of reclassification adjustments of other comprehensive income (loss). No definition available.
|
|
NONCONTROLLING INTERESTS (Details) (USD $)
|
3 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Sep. 30, 2014
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Jan. 14, 2011
|
Dec. 31, 2014
International Lease Finance Corporation (ILFC)
Series A
|
Dec. 31, 2014
International Lease Finance Corporation (ILFC)
Series B
|
Dec. 31, 2014
Redeemable Noncontrolling interests
|
Dec. 31, 2013
Redeemable Noncontrolling interests
|
Dec. 31, 2012
Redeemable Noncontrolling interests
|
Dec. 31, 2012
Redeemable Noncontrolling interests
Department of the Treasury.
|
Dec. 31, 2014
Redeemable Noncontrolling interests
Other Minority Interests Holder
|
Dec. 31, 2013
Redeemable Noncontrolling interests
Other Minority Interests Holder
|
Dec. 31, 2012
Redeemable Noncontrolling interests
Other Minority Interests Holder
|
Dec. 31, 2014
Non-redeemable Noncontrolling interests
|
Dec. 31, 2013
Non-redeemable Noncontrolling interests
|
Dec. 31, 2012
Non-redeemable Noncontrolling interests
|
Dec. 31, 2014
Non-redeemable Noncontrolling interests
Other Minority Interests Holder
|
Dec. 31, 2013
Non-redeemable Noncontrolling interests
Other Minority Interests Holder
|
Dec. 31, 2012
Non-redeemable Noncontrolling interests
Other Minority Interests Holder
|
Dec. 01, 2009
Special purpose vehicles (SPVs)
|
Jan. 31, 2011
Special purpose vehicles (SPVs)
|
Dec. 31, 2014
Special purpose vehicles (SPVs)
item
|
|
| A rollforward of noncontrolling interests | ||||||||||||||||||||||||||||||
| Balance, beginning of year | $ 611,000,000 | $ 611,000,000 | $ 30,000,000 | $ 334,000,000 | $ 8,523,000,000 | $ 8,427,000,000 | $ 30,000,000 | $ 334,000,000 | $ 96,000,000 | $ 611,000,000 | $ 667,000,000 | $ 855,000,000 | $ 611,000,000 | $ 667,000,000 | $ 855,000,000 | |||||||||||||||
| Repayment to Department of the Treasury | 0 | (8,635,000,000) | (8,635,000,000) | 0 | ||||||||||||||||||||||||||
| Contributions from noncontrolling interests | 17,000,000 | 33,000,000 | 80,000,000 | 1,000,000 | 48,000,000 | 36,000,000 | 1,000,000 | 48,000,000 | 36,000,000 | 17,000,000 | 33,000,000 | (87,000,000) | 17,000,000 | 33,000,000 | (87,000,000) | |||||||||||||||
| Distributions to noncontrolling interests | (147,000,000) | (81,000,000) | (167,000,000) | 0 | (167,000,000) | 68,000,000 | 0 | (167,000,000) | 68,000,000 | (147,000,000) | (81,000,000) | (27,000,000) | (147,000,000) | (81,000,000) | (27,000,000) | (12,400,000,000) | ||||||||||||||
| Consolidation (deconsolidation) | (99,000,000) | (27,000,000) | (31,000,000) | (169,000,000) | (31,000,000) | (169,000,000) | ||||||||||||||||||||||||
| Acquisition of noncontrolling interests | (25,000,000,000) | |||||||||||||||||||||||||||||
| Comprehensive income (loss): | ||||||||||||||||||||||||||||||
| Net income (loss) | 20,000,000 | 9,000,000 | (37,000,000) | 3,000,000 | (5,000,000) | (40,000,000) | 27,000,000 | 25,000,000 | 0 | 2,000,000 | 222,000,000 | 208,000,000 | 0 | 2,000,000 | 14,000,000 | (5,000,000) | 5,000,000 | 40,000,000 | (5,000,000) | 5,000,000 | 40,000,000 | |||||||||
| Other comprehensive income (loss), net of tax: | ||||||||||||||||||||||||||||||
| Unrealized gains (losses) on investments | 0 | (16,000,000) | 4,000,000 | 0 | (16,000,000) | 4,000,000 | 0 | 0 | 5,000,000 | 0 | 0 | 5,000,000 | ||||||||||||||||||
| Foreign currency translation adjustments | 0 | (2,000,000) | 0 | (2,000,000) | 0 | (5,000,000) | (6,000,000) | 0 | (5,000,000) | (6,000,000) | ||||||||||||||||||||
| Total other comprehensive income (loss), net of tax | 10,617,000,000 | 6,360,000,000 | 10,617,000,000 | 6,360,000,000 | 0 | (18,000,000) | 4,000,000 | 0 | (18,000,000) | 4,000,000 | 0 | (5,000,000) | (1,000,000) | 0 | (5,000,000) | (1,000,000) | ||||||||||||||
| Total comprehensive income (loss) attributable to noncontrolling interests | (5,000,000) | (16,000,000) | 265,000,000 | 0 | (16,000,000) | 226,000,000 | 208,000,000 | 0 | (16,000,000) | 18,000,000 | (5,000,000) | 0 | 39,000,000 | (5,000,000) | 0 | 39,000,000 | ||||||||||||||
| Other | 0 | 116,000,000 | 0 | 116,000,000 | (3,000,000) | (8,000,000) | (113,000,000) | (3,000,000) | (8,000,000) | (113,000,000) | ||||||||||||||||||||
| Balance, end of period | 374,000,000 | 611,000,000 | 374,000,000 | 611,000,000 | 0 | 30,000,000 | 334,000,000 | 0 | 30,000,000 | 334,000,000 | 374,000,000 | 611,000,000 | 667,000,000 | 374,000,000 | 611,000,000 | 667,000,000 | ||||||||||||||
| Number of wholly owned businesses transferred to newly created SPVs | 2 | |||||||||||||||||||||||||||||
| Number of newly created special purpose vehicles (SPVs) | 2 | |||||||||||||||||||||||||||||
| Nonvoting, callable, junior and senior preferred interests purchased from the Federal Reserve Bank of New York by AIG and transferred to the Department of the Treasury | 20,300,000,000 | |||||||||||||||||||||||||||||
| Voting interest held in SPVs (as a percent) | 100.00% | |||||||||||||||||||||||||||||
| Repayment of a portion of the liquidation preference and accrued return of the ALICO SPV | 6,100,000,000 | |||||||||||||||||||||||||||||
| Reduction in SPV balance due to sale of AIG Star Life Insurance Co., Ltd. (AIG Star), AIG Edison Life Insurance Company (AIG Edison), Nan Shan, and MetLife | 147,000,000 | 81,000,000 | 167,000,000 | 0 | 167,000,000 | (68,000,000) | 0 | 167,000,000 | (68,000,000) | 147,000,000 | 81,000,000 | 27,000,000 | 147,000,000 | 81,000,000 | 27,000,000 | 12,400,000,000 | ||||||||||||||
| Preferred interests liquidation preference | $ 25,000,000,000 | |||||||||||||||||||||||||||||
| Preferred return on preferred interests through September 22, 2013 (as a percent) | 5.00% | |||||||||||||||||||||||||||||
| Preferred return on preferred interests after September 22, 2013 (as a percent) | 9.00% | |||||||||||||||||||||||||||||
| Dividend rate setting interval | 49 days | 49 days | ||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of businesses transferred to special purpose vehicles. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of liquidation preference (or restrictions) to preferred interests. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the preferred return on preferred interests after specified date. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the preferred return on preferred interests through specified date. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the increase (decrease) in the carrying value of noncontrolling interests due to repayment of credit facilities to credit facility lender. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the other increase (decrease) in noncontrolling interests. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of preferred interests in SPV's purchased from the Federal Reserve Bank of New York by the entity and transferred to the Department of the Treasury. No definition available.
|
| X | ||||||||||
|
- Definition
The number of special purpose vehicles created. No definition available.
|
| X | ||||||||||
|
- Definition
Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Period in a rate setting interval for auction market preferred securities, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of (increase) decrease in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Decrease in noncontrolling interest (for example, but not limited to, redeeming or purchasing the interests of noncontrolling shareholders, issuance of shares (interests) by the non-wholly owned subsidiary to the parent entity for other than cash, and a buyback of shares (interest) by the non-wholly owned subsidiary from the noncontrolling interests). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the reduction or elimination during the period of a noncontrolling interest resulting from the parent's loss of control and deconsolidation of the entity in which one or more outside parties had a noncontrolling interest. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of increase in noncontrolling interest from sale of a portion of the parent's controlling interest. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow during the period for redemption of redeemable noncontrolling interests. No definition available.
|
| X | ||||||||||
|
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the Variable Interest Entity's (VIE) voting interest owned by (or beneficial interest in) the reporting entity (directly or indirectly). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
EARNINGS PER SHARE (EPS) (Details) (USD $)
In Millions, except Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Sep. 30, 2014
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Numerator for EPS: | |||||||||||
| Income from continuing operations | $ 7,574 | $ 9,008 | $ 3,699 | ||||||||
| Less: Net income (loss) from continuing operations attributable to noncontrolling interests: | |||||||||||
| Nonvoting, callable, junior and senior preferred interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 208 |
| Other | 20 | 9 | (37) | 3 | (5) | (40) | 27 | 25 | (5) | 7 | 54 |
| Total net income (loss) from continuing operations attributable to noncontrolling interests | (5) | 7 | 262 | ||||||||
| Deemed dividends to AIG Series E and F Preferred Stock | 0 | ||||||||||
| Net income (loss) attributable to AIG from continuing operations | 7,579 | 9,001 | 3,437 | ||||||||
| Income (loss) from discontinued operations | (35) | 2 | 30 | (47) | 11 | (18) | 18 | 73 | (50) | 84 | 1 |
| Income (loss) attributable to AIG common shareholders from discontinued operations | (50) | 84 | 1 | ||||||||
| Net income attributable to AIG common shareholders | $ 7,529 | $ 9,085 | $ 3,438 | ||||||||
| Denominator for EPS: | |||||||||||
| Weighted average shares outstanding - basic | 1,391,790,420 | 1,419,239,774 | 1,442,397,111 | 1,459,249,393 | 1,468,725,573 | 1,475,053,126 | 1,476,512,720 | 1,476,471,097 | 1,427,959,799 | 1,474,171,690 | 1,687,197,038 |
| Dilutive shares | 19,593,853 | 7,035,107 | 29,603 | ||||||||
| Weighted average shares outstanding - diluted | 1,412,162,456 | 1,442,067,842 | 1,464,676,330 | 1,472,510,813 | 1,480,654,482 | 1,485,322,858 | 1,482,246,618 | 1,476,678,931 | 1,447,553,652 | 1,481,206,797 | 1,687,226,641 |
| Basic: | |||||||||||
| Income from continuing operations | $ 0.5 | $ 1.54 | $ 2.11 | $ 1.13 | $ 1.34 | $ 1.48 | $ 1.84 | $ 1.44 | $ 5.31 | $ 6.11 | $ 2.04 |
| Income (loss) from discontinued operations | $ (0.03) | $ 0 | $ 0.02 | $ (0.03) | $ 0.01 | $ (0.01) | $ 0.01 | $ 0.05 | $ (0.04) | $ 0.05 | $ 0 |
| Net income attributable to AIG | $ 5.27 | $ 6.16 | $ 2.04 | ||||||||
| Diluted: | |||||||||||
| Income from continuing operations | $ 5.24 | $ 6.08 | $ 2.04 | ||||||||
| Income (loss) from discontinued operations | $ (0.04) | $ 0.05 | $ 0 | ||||||||
| Net Income attributable to AIG | $ 5.2 | $ 6.13 | $ 2.04 | ||||||||
| Number of shares, warrants, and options excluded from diluted shares outstanding because the effect would have been anti-dilutive | 300,000 | 38,000,000 | 78,000,000 | ||||||||
| X | ||||||||||
|
- Definition
The excess of the fair value of consideration transferred to the Department of Treasury over the carrying value of Series E Preferred Stock and Series F Preferred Stock. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of net income (loss) for the period allocated to noncontrolling interests, other. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of net income (loss) for the period allocated to noncontrolling, nonvoting, callable, junior and senior preferred interests held by Federal Reserve Bank of New York and the Department of the Treasury. No definition available.
|
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from continuing operations attributable to the noncontrolling interest. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax, reported as a separate component of income before extraordinary items after deduction or consideration of the amount allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the percentage of adjusted net investment income, as defined, which may not be paid as dividends pursuant to statutory rules and regulations without prior approval of regulators. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of net assets of consolidated subsidiaries companies restricted from transfer to parent. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the percentage of policyholders' surplus which may not be paid as dividends pursuant to statutory rules and regulations without prior approval of regulators. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the amount of statutory gains related to legal simplification. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the increase or decrease in the previously reported amount of the statutory net income. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the increase or decrease in the previously reported amount of the statutory surplus. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of statutory capital and surplus (stockholders' equity) as of the balance sheet date using prescribed or permitted statutory accounting practices (rather than GAAP, if different) of the state or country. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of statutory capital required to be maintained as of the balance sheet date under prescribed or permitted statutory accounting practices. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of net income for the period determined using accounting principles prescribed or permitted by insurance regulators. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
SHARE-BASED AND OTHER COMPENSATION PLANS (Details - Share based compensation expense) (USD $)
In Millions, except Per Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| SHARE-BASED AND OTHER COMPENSATION PLANS | |||
| Share-based compensation expense - pre-tax | $ 349 | $ 457 | $ 286 |
| Share-based compensation expense - after tax | 227 | 297 | 186 |
| Pre tax share-based compensation expense attributed to unsettled liability-classified awards | 86 | 315 | 286 |
| Share price (in dollars per share) | $ 56.01 | $ 51.05 | $ 35.3 |
| Vested stock-settled awards issued to retirement eligible employees | $ 120 | $ 101 | |
| X | ||||||||||
|
- Definition
Represents the pre tax share-based compensation expense attributed to unsettled liability-classified awards. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense, net of income tax, recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate cash paid by the entity during the period to settle equity instruments granted under equity-based payment arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
SHARE-BASED AND OTHER COMPENSATION PLANS (Details - Employee Plans, Share-settled Awards - assumptions used to estimate the fair value of PSUs) (USD $)
In Millions, except Share data, unless otherwise specified |
12 Months Ended | 12 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2014
Deferred stock units (DSUs)
|
Dec. 31, 2013
Deferred stock units (DSUs)
|
Dec. 31, 2012
Deferred stock units (DSUs)
|
Dec. 31, 2014
Performance share units
|
Dec. 31, 2013
Performance share units
|
Dec. 31, 2014
2013 Omnibus Incentive Plan
|
Dec. 31, 2014
AIG 2013 Long Term Incentive Plan
item
|
Dec. 31, 2014
AIG 2013 Long Term Incentive Plan
Maximum
|
Dec. 31, 2014
AIG 2013 Long Term Incentive Plan
Minimum
|
Dec. 31, 2014
AIG 2013 Long Term Incentive Plan
Vesting on January 1 from the next three years of immediately following the end of the performance period
|
Dec. 31, 2014
AIG 2010 Stock Incentive Plan
|
May 31, 2013
AIG 2010 Stock Incentive Plan
|
Dec. 31, 2014
SICO Plans
|
Dec. 31, 2014
SICO Plans
Performance share units
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||
| Common stock reserved for future grant | 45,000,000 | 60,000,000 | |||||||||||||||
| Number of shares reserved for future grants | 50,206,557 | 0 | |||||||||||||||
| Reduction in the number of shares available for grants | 1 | 1 | |||||||||||||||
| Performance period | 3 years | ||||||||||||||||
| Percentage of performance period depending on which actual number of awards can be earned | 150.00% | 0.00% | |||||||||||||||
| Number of installments | 3 | ||||||||||||||||
| Shares granted under the plans | 19,434 | 25,735 | 28,477 | 0 | |||||||||||||
| Vesting period, from date of grant | 5 years | 2 years | |||||||||||||||
| Completion of age of the employee after which the awards can be vested | 65 years | ||||||||||||||||
| Compensation expense | $ 349.0 | $ 457.0 | $ 286.0 | $ 1.5 | $ 1.2 | $ 0.6 | |||||||||||
| Payments for various benefits provided under the plan | $ 0 | ||||||||||||||||
| Assumptions used to estimate the fair value of PSUs based on AIG's TSR | |||||||||||||||||
| Expected dividend yield (as a percent) | 1.13% | 0.38% | |||||||||||||||
| Expected volatility (as a percent) | 23.66% | 30.79% | |||||||||||||||
| Risk-free interest rate (as a percent) | 0.76% | 0.50% | |||||||||||||||
| X | ||||||||||
|
- Definition
Represents the number of installments in which stock rights will vest. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow from resulting from payment of various benefits provided under the plan during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the reduction in the number of shares available for future grants due to RSU, DSU and share of restricted stock awarded. No definition available.
|
| X | ||||||||||
|
- Definition
Represents percentage of performance period depending on which actual number of awards can be earned. No definition available.
|
| X | ||||||||||
|
- Definition
The period of time over which the employee needs to achieve the performance objectives for earning share-based awards. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the age that must be attained while still under the Company's employ in order for awards to vest. A significant portion of the awards vest the year after the participant reaches the required age. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate number of common shares reserved for future issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, expressed in number of years. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Unrecognized cost of unvested share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the percentage of awards vested per year in the share based compensation arrangement. No definition available.
|
| X | ||||||||||
|
- Definition
The period of time, from the grant date until the time at which the share-based award expires. No definition available.
|
| X | ||||||||||
|
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of options or other stock instruments for which the right to exercise has lapsed under the terms of the plan agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees could have acquired the underlying shares with respect to stock options of the plan that expired. No definition available.
|
| X | ||||||||||
|
- Definition
Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the maximum graded vesting schedule of cash portion of the awards. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the contingent performance measurement period to receive additional compensation in the form of cash and stock appreciation rights. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the range of the ultimate value of awards measured on the basis of the amount of contingent performance measures. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the percentage of non-vested equity-based payment instruments, excluding stock (or unit) options that validly exist and are outstanding that is expected to vest on satisfaction of the service condition. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the installment percentage which will be settled in proportion to the Company's repayment of its TARP obligations. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate cash paid by the entity during the period to settle equity instruments granted under equity-based payment arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
SHARE-BASED AND OTHER COMPENSATION PLANS (Details - Cash-settled Awards - Roll forward of SARs and cash-settled RSUs (excluding stock salary) as well as the related expenses) (USD $)
In Millions, except Share data, unless otherwise specified |
12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2014
Other RSUs
|
Dec. 31, 2013
Other RSUs
|
Dec. 31, 2014
TARP RSUs
|
Dec. 31, 2013
TARP RSUs
|
Dec. 31, 2014
SARs
|
Dec. 31, 2014
SARs
|
|
| Change in SARs (based on target amounts) as well as the related expenses | |||||||||
| Unvested at the beginning of the period (in shares) | 1,563,687 | 857,579 | 8,966,246 | ||||||
| Vested (in shares) | 382,468 | 529,049 | 5,521,171 | ||||||
| Forfeited (in shares) | 15,687 | 89,417 | 160,166 | ||||||
| Unvested at the end of the period (in shares) | 1,165,532 | 239,113 | 3,284,909 | 3,284,909 | |||||
| Compensation expense | $ 349.0 | $ 457.0 | $ 286.0 | $ 31.0 | $ 12.0 | $ 36.0 | |||
| Total unrecognized compensation cost (net of expected forfeitures) and the weighted-average periods over which those costs are expected to be recognized | |||||||||
| Unrecognized Compensation Cost | $ 3 | $ 13 | |||||||
| Weighted-Average Period | 6 months 18 days | 7 months 10 days | |||||||
| Strike price (in dollars per share) | $ 37.4 | ||||||||
| Average closing price | $ 55.29 | ||||||||
| X | ||||||||||
|
- Definition
Represents the average closing price which is based on the Company's average share price No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the strike price which is based on the Company's average share price over the 30 days prior to the grant date. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Unrecognized cost of unvested share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of increase or decrease in the plan benefit obligation not otherwise specified in the taxonomy during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the projected benefit obligation for unfunded plan. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of payments that were made from employer's assets for which participants are entitled under the pension plan, including pension benefits, death benefits, and benefits due on termination of employment. It also includes payments made under the postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. This item represents a periodic decrease to the plan obligations and a decrease to plan assets. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of payments made from plan assets for which participants are entitled under the pension plan, including pension benefits, death benefits, and benefits due on termination of employment. It also includes payments made under the postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. This item represents a periodic decrease to the plan obligations and a decrease to plan assets. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of increase or decrease in the fair value of plan assets not otherwise specified in the taxonomy during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the period over which employee vests under the defined benefit plan. No definition available.
|
| X | ||||||||||
|
- Definition
The difference between fair value of plan assets at the end of the period and the fair value at the beginning of the period, adjusted for contributions and payments of benefits during the period, and after adjusting for taxes and other expenses, as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) related to change in benefit obligation resulting from changes in actuarial assumptions, for example, but not limited to, interest, mortality, employee turnover, salary, and temporary deviation from the substantive plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate net amount recognized in the balance sheet associated with the defined benefit plan(s). Will normally be the same as the Defined Benefit Plan, Funded Status of Plan, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments, of actuarial gain (loss) that has not been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments, of prior service cost (credit) that has not been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This represents the entire assets recognized in the balance sheet that are associated with the defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
1) For defined benefit pension plans, the benefit obligation is the projected benefit obligation, which is the actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee service rendered prior to that date. 2) For other postretirement defined benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, which is the actuarial present value of benefits attributed to employee service rendered to a particular date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The increase in the fair value of plan assets from contributions made by the employer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of decrease that is related to an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) from foreign currency exchange rate changes for benefit obligation for plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of increase or decrease in plan assets attributed to foreign currency changes. The effects of foreign currency exchange rate changes that are to be disclosed are those applicable to plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The funded status is measured as the difference between the fair value of plan assets and the benefit obligation. Will normally be the same as the net Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of increase or decrease due to a change in the terms of an existing plan or the initiation of a new plan. A plan amendment may increase or decrease benefits, including those attributed to years of service already rendered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of decrease that relates to an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include (a) making lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and (b) purchasing nonparticipating annuity contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount that relates to an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include (a) making lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and (b) purchasing nonparticipating annuity contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax, after reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This represents the entire liability recognized in the balance sheet that is associated with the defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
If aggregate disclosures are presented, the aggregate pension accumulated benefit obligation for pension plans with benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. No definition available.
|
| X | ||||||||||
|
- Definition
For defined benefit pension plans, the actuarial present value of benefits (whether vested or nonvested) attributed by the pension benefit formula to employee service rendered before a specified date and based on employee service and compensation (if applicable) before that date. The accumulated benefit obligation differs from the projected benefit obligation in that it includes no assumption about future compensation levels. For plans with flat-benefit or nonpay-related pension benefit formulas, the accumulated benefit obligation and the projected benefit obligation are the same. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
If aggregate disclosures are presented, the aggregate pension accumulated benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
If aggregate disclosures are presented, the aggregate fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
If aggregate disclosures are presented, the aggregate projected benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
If aggregate disclosures are presented, the aggregate benefit obligation for plans with benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
If aggregate disclosures are presented, the aggregate fair value of plan assets for plans with benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amounts recognized in net periodic benefit cost and other comprehensive income (loss), including the net gain (loss) and net prior service cost (credit) arising during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The effect of one hundred basis point decrease in the discount rate on the pension expense. No definition available.
|
| X | ||||||||||
|
- Definition
The effect of one hundred basis point decrease in the expected long-term rate of return on the pension expense. No definition available.
|
| X | ||||||||||
|
- Definition
The effect of one hundred basis point increase in the discount rate on the pension expense. No definition available.
|
| X | ||||||||||
|
- Definition
The effect of one hundred basis point increase in the expected long-term rate of return on the pension expense. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of estimated pension benefit costs during the period for (1) defined benefit plans. For defined benefit plans, estimated pension expense includes the following components: service cost, interest cost, expected return on plan assets, gain (loss) on plan assets, prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. No definition available.
|
| X | ||||||||||
|
- Definition
The pretax total of net gain (loss), prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of gains or losses recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the prior service cost or credit recognized in net periodic benefit cost relating to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount included in accumulated other comprehensive income (AOCI) expected to be recognized as components of net periodic benefit cost for the fiscal year that follows the most recent annual statement of financial position, including gain (loss), prior service cost (credit), and transition asset (obligation). No definition available.
|
| X | ||||||||||
|
- Definition
An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount included in accumulated other comprehensive income (AOCI) related to gain (loss) expected to be recognized as components of net periodic benefit cost for the fiscal year that follows the most recent annual statement of financial position. No definition available.
|
| X | ||||||||||
|
- Definition
Amount included in accumulated other comprehensive income (AOCI) related to prior service cost (credit) expected to be recognized as components of net periodic benefit cost for the fiscal year that follows the most recent annual statement of financial position. No definition available.
|
| X | ||||||||||
|
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of other defined benefit plan costs. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of net gain (loss) recognized in net periodic benefit cost as a result of an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of net gain (loss) recognized in net periodic benefit cost as a result of an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include, but are not limited to, lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the number of shares of AIG common stock included in plans assets. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the percentage of projected benefit obligation to total projected benefit obligations. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the single discount rate as on the balance sheet date for the entity's retirement plan as of the prior year. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the weighted average discount rate selected by reference to the published Moody's/S&P AA Corporate Bond Universe at the measurement date. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The interest rate used to adjust for the time value of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of effect of a one-percentage-point decrease in the assumed health care cost trend rates on the accumulated postretirement benefit obligation for health care benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effect of a one-percentage-point increase in the assumed health care cost trend rates on the accumulated postretirement benefit obligation for health care benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The ultimate trend rate for health care costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Year the ultimate health care cost trend rate is expected to be reached, in CCYY format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the period of review and revision of long-term strategic asset allocation. No definition available.
|
| X | ||||||||||
|
- Definition
An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Target allocation of investments of this type to total plan assets presented on a weighted average basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of fair value of investments (categorized by debt securities, equity securities, real estate and other plan assets) to the fair value of plan assets held. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
EMPLOYEE BENEFITS (Details - Assets Measured at Fair Value) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|---|
|
U.S. Pension Plans
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | $ 4,111 | $ 4,024 | $ 3,720 |
|
U.S. Pension Plans | Cash and cash equivalents
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 80 | 137 | |
|
U.S. Pension Plans | Equity securities - U.S.
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 1,483 | 2,060 | |
|
U.S. Pension Plans | Equity securities - International
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 788 | 207 | |
|
U.S. Pension Plans | U.S. government and government sponsored entities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 776 | 711 | |
|
U.S. Pension Plans | Non-U.S. government
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Fixed maturity securities: U.S. and international high yield
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 347 | 281 | |
|
U.S. Pension Plans | Fixed maturity securities: Mortgage and other asset-backed securities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 6 | 7 | |
|
U.S. Pension Plans | Other investment types: Hedge funds
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 373 | 332 | |
|
U.S. Pension Plans | Futures
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 4 | 14 | |
|
U.S. Pension Plans | Other investment types: Private equity funds
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 228 | 248 | |
|
U.S. Pension Plans | Other investment types: Insurance contracts
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 26 | 27 | |
|
U.S. Pension Plans | Other investment types: Annuity contracts | US Life
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 26 | 27 | |
|
U.S. Pension Plans | Level 1
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 2,115 | 2,180 | |
|
U.S. Pension Plans | Level 1 | Cash and cash equivalents
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 80 | 137 | |
|
U.S. Pension Plans | Level 1 | Equity securities - U.S.
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 1,244 | 1,840 | |
|
U.S. Pension Plans | Level 1 | Equity securities - International
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 787 | 189 | |
|
U.S. Pension Plans | Level 1 | U.S. government and government sponsored entities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 1 | Non-U.S. government
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 1 | Fixed maturity securities: U.S. and international high yield
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 1 | Fixed maturity securities: Mortgage and other asset-backed securities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 1 | Other investment types: Hedge funds
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 1 | Futures
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 4 | 14 | |
|
U.S. Pension Plans | Level 1 | Other investment types: Private equity funds
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 1 | Other investment types: Insurance contracts
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 2
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 1,724 | 1,552 | |
|
U.S. Pension Plans | Level 2 | Cash and cash equivalents
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 2 | Equity securities - U.S.
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 239 | 220 | |
|
U.S. Pension Plans | Level 2 | Equity securities - International
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 1 | 18 | |
|
U.S. Pension Plans | Level 2 | U.S. government and government sponsored entities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 768 | 702 | |
|
U.S. Pension Plans | Level 2 | Non-U.S. government
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 2 | Fixed maturity securities: U.S. and international high yield
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 347 | 281 | |
|
U.S. Pension Plans | Level 2 | Fixed maturity securities: Mortgage and other asset-backed securities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 6 | 7 | |
|
U.S. Pension Plans | Level 2 | Other investment types: Hedge funds
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 337 | 297 | |
|
U.S. Pension Plans | Level 2 | Futures
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | ||
|
U.S. Pension Plans | Level 2 | Other investment types: Private equity funds
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 2 | Other investment types: Insurance contracts
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 26 | 27 | |
|
U.S. Pension Plans | Level 3
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 272 | 292 | 236 |
|
U.S. Pension Plans | Level 3 | Cash and cash equivalents
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 3 | Equity securities - U.S.
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 3 | Equity securities - International
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 3 | U.S. government and government sponsored entities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 8 | 9 | |
|
U.S. Pension Plans | Level 3 | Non-U.S. government
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 3 | Fixed maturity securities: U.S. and international high yield
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 3 | Fixed maturity securities: Mortgage and other asset-backed securities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
U.S. Pension Plans | Level 3 | Other investment types: Hedge funds
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 36 | 35 | |
|
U.S. Pension Plans | Level 3 | Futures
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | ||
|
U.S. Pension Plans | Level 3 | Other investment types: Private equity funds
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 228 | 248 | 225 |
|
U.S. Pension Plans | Level 3 | Other investment types: Insurance contracts
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 708 | 738 | 727 |
|
Non U.S. Pension Plans | Cash and cash equivalents
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 50 | 92 | |
|
Non U.S. Pension Plans | Equity securities - U.S.
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 30 | 26 | |
|
Non U.S. Pension Plans | Equity securities - International
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 322 | 301 | |
|
Non U.S. Pension Plans | U.S. government and government sponsored entities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Non-U.S. government
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 162 | 164 | |
|
Non U.S. Pension Plans | Fixed maturity securities: U.S. and international high yield
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 61 | 82 | |
|
Non U.S. Pension Plans | Other fixed maturity securities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 27 | 29 | |
|
Non U.S. Pension Plans | Other investment types: Insurance contracts
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 56 | 44 | |
|
Non U.S. Pension Plans | Level 1
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 356 | 373 | |
|
Non U.S. Pension Plans | Level 1 | Cash and cash equivalents
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 50 | 92 | |
|
Non U.S. Pension Plans | Level 1 | Equity securities - U.S.
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 30 | 26 | |
|
Non U.S. Pension Plans | Level 1 | Equity securities - International
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 274 | 254 | |
|
Non U.S. Pension Plans | Level 1 | U.S. government and government sponsored entities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 1 | Non-U.S. government
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 2 | 1 | |
|
Non U.S. Pension Plans | Level 1 | Fixed maturity securities: U.S. and international high yield
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 1 | Other fixed maturity securities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 1 | Other investment types: Insurance contracts
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 2
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 279 | 302 | |
|
Non U.S. Pension Plans | Level 2 | Cash and cash equivalents
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 2 | Equity securities - U.S.
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 2 | Equity securities - International
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 48 | 47 | |
|
Non U.S. Pension Plans | Level 2 | U.S. government and government sponsored entities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 2 | Non-U.S. government
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 160 | 163 | |
|
Non U.S. Pension Plans | Level 2 | Fixed maturity securities: U.S. and international high yield
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 61 | 82 | |
|
Non U.S. Pension Plans | Level 2 | Other fixed maturity securities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 10 | 10 | |
|
Non U.S. Pension Plans | Level 2 | Other investment types: Insurance contracts
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 3
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 73 | 63 | 70 |
|
Non U.S. Pension Plans | Level 3 | Cash and cash equivalents
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 3 | Equity securities - U.S.
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 3 | Equity securities - International
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 3 | U.S. government and government sponsored entities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 3 | Non-U.S. government
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 3 | Fixed maturity securities: U.S. and international high yield
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
|
Non U.S. Pension Plans | Level 3 | Other fixed maturity securities
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 17 | 19 | |
|
Non U.S. Pension Plans | Level 3 | Other investment types: Insurance contracts
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | $ 56 | $ 44 | $ 43 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the change in unrealized gains (losses) relating to instruments held as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
Transfers in to Level 3. For example, transfers due to changes in the observability of significant inputs. No definition available.
|
| X | ||||||||||
|
- Definition
Transfers out of Level 3. For example, transfers due to changes in the observability of significant inputs. No definition available.
|
| X | ||||||||||
|
- Definition
The difference between fair value of plan assets at the end of the period and the fair value at the beginning of the period, adjusted for contributions and payments of benefits during the period, and after adjusting for taxes and other expenses, as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of purchases of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of sale of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of settlement of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the minimum required cash contributions under the plan. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the maximum employer's contribution expressed as a percentage of the employee's annual salary depending on the years of service subject to certain compensation limits. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the maximum percentage of participant contributions eligible for an employer matching contribution, towards defined contribution plan. No definition available.
|
| X | ||||||||||
|
- Definition
The increase in the fair value of plan assets from contributions made by the employer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the five fiscal years after the fifth fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the next fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the fifth fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the fourth fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the third fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the second fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of employer's best estimate of contributions expected to be paid to the plan during the next fiscal year beginning after the date of the latest statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of employees' gross pay for which the employer contributes a matching contribution to a defined contribution plan. No definition available.
|
|
OWNERSHIP (Details)
|
Dec. 31, 2014
|
|---|---|
|
Fairholme Funds, Fairholme Capital Management and Mr. Berkowitz | After amendment
|
|
| Beneficial Ownership [Line Items] | |
| Common stock and warrants deemed beneficially held | 75,755,659 |
| Ownership interest (as a percent) | 5.30% |
| Common stock deemed to be beneficially owned (in shares) | 51,283,896 |
| Warrants deemed beneficially held | 24,471,763 |
|
The Vanguard Group
|
|
| Beneficial Ownership [Line Items] | |
| Common stock and warrants deemed beneficially held | 71,820,823 |
| Ownership interest (as a percent) | 5.10% |
|
Blackrock, Inc | After amendment
|
|
| Beneficial Ownership [Line Items] | |
| Common stock and warrants deemed beneficially held | 87,211,630 |
| Ownership interest (as a percent) | 6.20% |
|
Department of the Treasury | Warrants
|
|
| Beneficial Ownership [Line Items] | |
| Number of series of warrants owned | 2 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the ownership interest percentage of common stock deemed to be beneficially owned by the beneficial owners. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the shares of common stock deemed to be beneficially owned by the beneficial owners. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the shares of common stock and warrants deemed to be beneficially owned by the beneficial owners. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the warrants deemed to be beneficially owned by the beneficial owners. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of series of warrants owned of the Company. No definition available.
|
| X | ||||||||||
|
- Definition
Effective income tax rate allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to discontinued operations. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate that can be explained by the difference between effective income tax rates in foreign jurisdictions and the domestic federal statutory income tax rate recorded during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing and discontinued operations. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate as reported in the income statement from continuing operations attributable to investment in subsidiaries and partnerships recorded during the period that is exempt from income taxes under enacted tax laws. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the income or loss from continuing and discontinued operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items and noncontrolling interest. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of the difference between total income tax expense or benefit as reported in the income statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from discontinued operations. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference, between total income tax expense or benefit as reported in the Income Statement for the period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to total foreign income tax expense or benefit. The foreign income tax expense or benefit difference represents the income tax expense or benefit at applicable domestic statutory income tax rates applied to foreign earnings or loss for the period versus the actual foreign income tax expense or benefit. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing and discontinued operations and adjusted for effective tax rate drivers. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between total income tax expense or benefit as reported in the income statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to the investment in subsidiaries and partnerships recorded in the period that is exempt from income taxes under enacted tax laws. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of the change in the period in the valuation allowance for a specified deferred tax asset related to foreign jurisdictions. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of current foreign income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred foreign income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to deduction for dividend. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to income tax contingencies. Includes, but not limited to, domestic tax contingency, foreign tax contingency, state and local tax contingency, and other contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to income (loss) exempt from income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of earnings or loss from continuing operations before income taxes that is attributable to foreign operations, which is defined as Income or Loss generated from operations located outside the entity's country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to deduction for dividend. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to state and local income tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in income tax contingencies. Including, but not limited to, domestic tax contingency, foreign tax contingency, state and local tax contingency, and other contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to income (loss) exempt from income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of accruals and other expenses not currently deductible. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the unclassified net amount of deferred tax assets before valuation allowance and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the tax effects as of the balance sheet date of the amount of excesses of tax deductions over gross income in a year which cannot be used on the tax returns in the current year but can be carried forward to reduce taxable income or income taxes payable in a future year, for which there must be sufficient tax-basis income to utilize a portion or all of the carryforward amount to realize the deferred tax asset. It also includes the future tax deductions arising from all unused tax credit carryforwards which have been reduced by a valuation allowance. No definition available.
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from the provision for loan losses and other reserves, which can only be deducted for tax purposes when actual loan losses are known and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. No definition available.
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis of capital assets and the basis of capital assets computed in accordance with generally accepted accounting principles. The difference in basis, attributable to different capitalization of costs for finite and infinite-lived intangible assets, depreciation or amortization methodologies will increase future taxable income when such basis difference is realized. No definition available.
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from estimated policyholder reserves. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from the entity's investment in its wholly-owned subsidiaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from employee benefit costs not otherwise specified in the taxonomy, which can only be deducted for tax purposes when actual costs are incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from loss reserves other than estimated credit losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from the unearned premiums reserve. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from unrealized losses on trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences net of deferred tax asset attributable to deductible temporary differences and carryforwards after valuation allowances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to policy acquisition costs being expensed for tax purposes but capitalized in conformity with generally accepted accounting principles, which will reverse in future periods when amortization of such capitalized costs cannot be deducted for tax purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences from unrealized gains on trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INCOME TAXES (Details - U.S. consolidated income tax group tax losses and credits carryforwards) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
|---|---|
| AIG U.S. consolidated income tax group tax losses and credits carryforwards, gross | |
| Net operating loss carryforwards | $ 33,021 |
| Capital loss carryforwards - Life | 0 |
| AIG U.S. consolidated income tax group tax losses and credits carryforwards, tax effected | |
| Net operating loss carryforwards | 11,557 |
| Capital loss carryforwards - Life | 0 |
| Foreign tax credit carryforwards | 7,109 |
| Other carryforwards and other | 1,034 |
| Total AIG U.S. consolidated income tax group tax losses and credits carryforwards | $ 19,700 |
| X | ||||||||||
|
- Definition
Represents the gross capital loss carryforward for life insurance, included in total capital loss carryforwards. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The tax effect of capital loss carryforward for life insurance, included in total capital carryforwards. No definition available.
|
| X | ||||||||||
|
- Definition
The tax effect of the entity's total U.S. consolidated income tax group tax losses and credits carryforwards. No definition available.
|
| X | ||||||||||
|
- Definition
The tax effect of other carryforwards, included in total other credit carryforwards. No definition available.
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax asset, before valuation allowance, attributable to deductible other tax carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INCOME TAXES (Details - Assessment of Deferred Tax Asset (liabilities) Valuation Allowance) (USD $)
|
3 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Sep. 30, 2014
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Feb. 26, 2009
Deferred tax asset - U.S. consolidated income tax group
|
Dec. 31, 2014
Deferred tax asset - U.S. consolidated income tax group
|
Dec. 31, 2013
Deferred tax asset - U.S. consolidated income tax group
|
Dec. 31, 2014
Deferred tax liability - foreign, state and local
|
Dec. 31, 2013
Deferred tax liability - foreign, state and local
|
|
| Deferred Tax Assets, Liabilities [Line Items] | ||||||||||||||||
| Change in valuation allowance | $ 20,000,000 | $ 21,000,000 | $ 75,000,000 | $ 65,000,000 | $ 741,000,000 | $ 1,154,000,000 | $ 509,000,000 | $ 761,000,000 | $ 1,800,000,000 | |||||||
| Continuing operations | (181,000,000) | (3,165,000,000) | (1,907,000,000) | |||||||||||||
| Deferred tax asset valuation allowance allocated to other comprehensive income | 1,600,000,000 | |||||||||||||||
| Deferred tax asset valuation allowance related to capital loss carryforward that expired in 2013 | 314,000,000 | |||||||||||||||
| Deferred tax asset valuation allowance related to tax attributes that expired | 0 | |||||||||||||||
| Net deferred tax assets (liabilities) on a U.S. GAAP basis | ||||||||||||||||
| Net U.S. consolidated return group deferred tax assets | 24,543,000,000 | 26,296,000,000 | ||||||||||||||
| Net deferred tax assets (liabilities) in Other comprehensive income | (5,510,000,000) | (3,337,000,000) | ||||||||||||||
| Valuation allowance | (1,739,000,000) | (3,596,000,000) | (1,739,000,000) | (3,596,000,000) | (129,000,000) | (1,650,000,000) | (1,610,000,000) | (1,947,000,000) | ||||||||
| Net deferred tax assets (liabilities) | 18,745,000,000 | 21,193,000,000 | 18,745,000,000 | 21,193,000,000 | 18,904,000,000 | 21,309,000,000 | 435,000,000 | 616,000,000 | ||||||||
| Net foreign, state & local deferred tax assets | 20,484,000,000 | 24,789,000,000 | 20,484,000,000 | 24,789,000,000 | 2,045,000,000 | 2,563,000,000 | ||||||||||
| Net U.S, foreign, state & local deferred tax assets | 19,339,000,000 | 21,925,000,000 | 19,339,000,000 | 21,925,000,000 | ||||||||||||
| Net foreign, state & local deferred tax liabilities | (8,550,000,000) | (10,014,000,000) | (8,550,000,000) | (10,014,000,000) | (594,000,000) | (732,000,000) | ||||||||||
| Net foreign, state & local deferred tax liabilities | 159,000,000 | 116,000,000 | ||||||||||||||
| Refund of taxes, interest and penalties sought | $ 306,000,000 | |||||||||||||||
| X | ||||||||||
|
- Definition
The total of current income taxes and deferred income taxes. Current income taxes represent the carrying amount as of the balance sheet date of income taxes previously overpaid to tax authorities representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Deferred income taxes represent the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; net of deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. No definition available.
|
| X | ||||||||||
|
- Definition
The net federal deferred tax assets and tax liabilities for the entity represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities for the U.S. consolidated income tax return group. No definition available.
|
| X | ||||||||||
|
- Definition
The net federal deferred tax assets and tax liabilities included in other comprehensive income for the entity represents the unclassified gross amount of federal deferred tax assets and liabilities included in other comprehensive income as of the balance sheet date before valuation allowance, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the unclassified net amount of deferred tax assets before valuation allowance and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the portion of the difference between total income tax expense or benefit as reported in the Income Statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from other comprehensive income attributable to changes in the valuation allowance for deferred tax assets in the period. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of change during the period in the valuation allowance related to a portion of the entity's life and retirement's capital loss carryforward that are expired. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of the change in the period in the valuation allowance related to tax attributes that expired. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences net of deferred tax asset attributable to deductible temporary differences and carryforwards after valuation allowances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The value (monetary amount) of the award the plaintiff seeks in the legal matter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the change in the period in the valuation allowance for a specified deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits for discontinued operations pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The gross amount of increase (decrease) in unrecognized tax benefits resulting from settlements with taxing authorities. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of unrecognized tax benefits that if recognized, would not affect the effective tax rate. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
A statement that a range of reasonably possible change cannot be made for a tax position taken for which it is reasonably possible that the total amount of unrecognized tax benefit will significantly increase or decrease within 12 months of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of decrease in unrecognized tax benefits resulting from tax positions taken in prior period tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount accrued for interest on an underpayment of income taxes and penalties related to a tax position claimed or expected to be claimed in the tax return. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of expense for interest on an underpayment of income taxes and penalties related to a tax position claimed or expected to be claimed in the tax return. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase in unrecognized tax benefits resulting from tax positions that have been or will be taken in current period tax return. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase in unrecognized tax benefits resulting from tax positions taken in prior period tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of decrease in unrecognized tax benefits resulting from lapses of applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Details - Consolidated Statements of Income (Loss)) (USD $)
In Millions, except Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Sep. 30, 2014
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | |||||||||||
| Revenues | $ 64,406 | $ 68,874 | $ 71,214 | ||||||||
| Income (loss) from continuing operations before income tax expense (benefit) | 10,501 | 9,368 | 2,891 | ||||||||
| Income (loss) from discontinued operations, net of income tax expense | (35) | 2 | 30 | (47) | 11 | (18) | 18 | 73 | (50) | 84 | 1 |
| Net income | 675 | 2,201 | 3,036 | 1,612 | 1,973 | 2,130 | 2,758 | 2,231 | 7,524 | 9,092 | 3,700 |
| Net income (loss) from continuing operations attributable to noncontrolling interests: | |||||||||||
| Nonvoting, callable, junior and senior preferred interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 208 |
| Other | 20 | 9 | (37) | 3 | (5) | (40) | 27 | 25 | (5) | 7 | 54 |
| Total net income (loss) attributable to noncontrolling interests | 20 | 9 | (37) | 3 | (5) | (40) | 27 | 25 | |||
| Net income (loss) attributable to AIG | 655 | 2,192 | 3,073 | 1,609 | 1,978 | 2,170 | 2,731 | 2,206 | 7,529 | 9,085 | 3,438 |
| Basic and diluted: | |||||||||||
| Income from continuing operations | $ 0.5 | $ 1.54 | $ 2.11 | $ 1.13 | $ 1.34 | $ 1.48 | $ 1.84 | $ 1.44 | $ 5.31 | $ 6.11 | $ 2.04 |
| Income (loss) from discontinued operations - basic (in dollars per share) | $ (0.03) | $ 0 | $ 0.02 | $ (0.03) | $ 0.01 | $ (0.01) | $ 0.01 | $ 0.05 | $ (0.04) | $ 0.05 | $ 0 |
| Income from continuing operations | $ 5.24 | $ 6.08 | $ 2.04 | ||||||||
| Income (loss) from discontinued operations | $ (0.04) | $ 0.05 | $ 0 | ||||||||
| Weighted average shares outstanding: | |||||||||||
| Basic | 1,391,790,420 | 1,419,239,774 | 1,442,397,111 | 1,459,249,393 | 1,468,725,573 | 1,475,053,126 | 1,476,512,720 | 1,476,471,097 | 1,427,959,799 | 1,474,171,690 | 1,687,197,038 |
| Diluted | 1,412,162,456 | 1,442,067,842 | 1,464,676,330 | 1,472,510,813 | 1,480,654,482 | 1,485,322,858 | 1,482,246,618 | 1,476,678,931 | 1,447,553,652 | 1,481,206,797 | 1,687,226,641 |
| Noteworthy quarterly items income (expense): | |||||||||||
| Other-than-temporary impairments | (83) | (50) | (55) | (59) | (86) | (52) | (46) | (48) | 217 | 187 | 829 |
| Net (gain) loss on sale of divested businesses | (2,197) | 48 | 6,736 | ||||||||
| Adjustment to federal deferred tax valuation allowance | 20 | 21 | 75 | 65 | 741 | 1,154 | 509 | 761 | 1,800 | ||
| Net gain (loss) on extinguishment of debt | $ (1,268) | $ (742) | $ (34) | $ (238) | $ (192) | $ (81) | $ (38) | $ (340) | $ (2,282) | $ (651) | $ (32) |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of net income (loss) for the period allocated to noncontrolling interests, other. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of net income (loss) for the period allocated to noncontrolling, nonvoting, callable, junior and senior preferred interests held by Federal Reserve Bank of New York and the Department of the Treasury. No definition available.
|
| X | ||||||||||
|
- Definition
The gain (loss) resulting from the sale of a disposal group that is not a discontinued operation. It is included in income from continuing operations before income taxes in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the change in the period in the valuation allowance for a specified deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Details - Previously reported and adjusted amounts) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Sep. 30, 2014
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Net income (loss) attributable to AIG | $ 655 | $ 2,192 | $ 3,073 | $ 1,609 | $ 1,978 | $ 2,170 | $ 2,731 | $ 2,206 | $ 7,529 | $ 9,085 | $ 3,438 |
| Total revenues | 64,406 | 68,874 | 71,214 | ||||||||
| Income (loss) from continuing operations before income tax expense (benefit) | 10,501 | 9,368 | 2,891 | ||||||||
| Income (loss) from discontinued operations, net of income tax expense | $ (35) | $ 2 | $ 30 | $ (47) | $ 11 | $ (18) | $ 18 | $ 73 | $ (50) | $ 84 | $ 1 |
| Basic: | |||||||||||
| Income (loss) from continuing operations (in dollars per share) | $ 0.5 | $ 1.54 | $ 2.11 | $ 1.13 | $ 1.34 | $ 1.48 | $ 1.84 | $ 1.44 | $ 5.31 | $ 6.11 | $ 2.04 |
| Income (loss) from discontinued operations | $ (0.03) | $ 0 | $ 0.02 | $ (0.03) | $ 0.01 | $ (0.01) | $ 0.01 | $ 0.05 | $ (0.04) | $ 0.05 | $ 0 |
| Diluted: | |||||||||||
| Income (loss) from continuing operations (in dollars per share) | $ 5.24 | $ 6.08 | $ 2.04 | ||||||||
| Income (loss) from discontinued operations (in dollars per share) | $ (0.04) | $ 0.05 | $ 0 | ||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of the unpaid sum of known and estimated amounts payable to satisfy all intercompany tax obligations due. This amount is the total of current and noncurrent accrued income taxes. No definition available.
|
| X | ||||||||||
|
- Definition
The total of current income tax assets (including refunds of overpayments) deferred tax assets (representing the aggregate of all timing differences arising from the difference in deductibility according to income tax and generally accepted accounting principles) and other assets not elsewhere specified in this statement. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date related to intercompany derivative liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of income taxes previously overpaid to tax authorities which are related to intercompany tax obligations. No definition available.
|
| X | ||||||||||
|
- Definition
Other investments on the condensed balance sheet not otherwise specified in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of liabilities not otherwise listed in this statement, including intercompany balances. No definition available.
|
| X | ||||||||||
|
- Definition
Long-Term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. This does not include advances to clients. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the sum of the carrying value of all the Assets Held-for-Sale at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of obligations due all related parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Liability (such as a mortgage) related to a disposal group that is held for sale and anticipated to be sold in less than one year. The liability is expected to be discharged as part of the plan of sale for the asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of policy reserves (provided for future obligations including unpaid claims and claims adjustment expenses) and policy benefits (liability for future policy benefits) as of the balance sheet date; grouped amount of all the liabilities associated with the company's insurance policies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the change in the fair value of the entity's equity interest in Maiden Lane III LLC (ML III). No definition available.
|
| X | ||||||||||
|
- Definition
Income or loss from continuing operations before income taxes and minority interest, but includes income (loss) from equity method investments. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the portion of interest incurred during the period on the Federal Reserve Bank of New York line credit facility that was charged against earnings. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of net income (loss) for the period allocated to noncontrolling interests, other. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of net income (loss) for the period allocated to noncontrolling, nonvoting, callable, junior and senior preferred interests held by Federal Reserve Bank of New York and the Department of the Treasury. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents a sum total of expenses not separately reflected on the consolidating income statement for the period. No definition available.
|
| X | ||||||||||
|
- Definition
Revenues including interest income recognized by the entity during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from continuing operations attributable to the noncontrolling interest. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items, which is apportioned to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This item includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest expense on all other items not previously classified. For example, includes dividends associated with redeemable preferred stock of a subsidiary that is treated as a liability in the parent's consolidated balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of (increase) decrease in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT (Details - Condensed Consolidating Statements of Cash Flows) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Condensed Financial Statements, Captions [Line Items] | |||
| Net cash provided by operating activities | $ 5,007,000,000 | $ 5,865,000,000 | $ 3,676,000,000 |
| Cash flows from investing activities: | |||
| Sales of investments | 66,104,000,000 | 77,094,000,000 | 101,406,000,000 |
| Proceeds from divested businesses, net | 2,348,000,000 | ||
| Purchase of investments | (58,110,000,000) | (77,887,000,000) | (76,567,000,000) |
| Net change in restricted cash | (1,447,000,000) | 1,244,000,000 | 414,000,000 |
| Net change in short-term investments | 8,760,000,000 | 7,842,000,000 | (8,109,000,000) |
| Other, net | (1,023,000,000) | (1,194,000,000) | (532,000,000) |
| Net cash provided by investing activities | 14,284,000,000 | 7,099,000,000 | 16,612,000,000 |
| Cash flows from financing activities: | |||
| Issuance of long-term debt | 6,687,000,000 | 5,235,000,000 | 8,612,000,000 |
| Repayments of long-term debt | (16,160,000,000) | (14,197,000,000) | (11,101,000,000) |
| Purchase of Common Stock | (4,902,000,000) | (597,000,000) | (13,000,000,000) |
| Cash dividends paid | (712,000,000) | (294,000,000) | |
| Other, net | (4,701,000,000) | (1,905,000,000) | (5,075,000,000) |
| Net cash provided by (used in) financing activities | (19,788,000,000) | (11,758,000,000) | (20,564,000,000) |
| Effect of exchange rate changes on cash | (74,000,000) | (92,000,000) | 16,000,000 |
| Net increase (decrease) in cash | (571,000,000) | 1,114,000,000 | (260,000,000) |
| Cash at beginning of year | 2,241,000,000 | 1,151,000,000 | 1,474,000,000 |
| Reclassification to assets held for sale | 88,000,000 | (24,000,000) | (63,000,000) |
| Cash at end of year | 1,758,000,000 | 2,241,000,000 | 1,151,000,000 |
| Interest: | |||
| Third party | (3,367,000,000) | (3,856,000,000) | (4,037,000,000) |
| Taxes: | |||
| Income tax authorities | (737,000,000) | (796,000,000) | (447,000,000) |
|
AIG (As Guarantor)
|
|||
| Condensed Financial Statements, Captions [Line Items] | |||
| Net cash (used in) provided by operating activities | (825,000,000) | ||
| Net cash provided by operating activities | 9,316,000,000 | 6,422,000,000 | (825,000,000) |
| Cash flows from investing activities: | |||
| Sales of investments | 3,036,000,000 | 1,425,000,000 | 16,874,000,000 |
| Purchase of investments | (1,051,000,000) | (5,506,000,000) | (4,406,000,000) |
| Loans to subsidiaries - net | 446,000,000 | 3,660,000,000 | 5,126,000,000 |
| Contributions to subsidiaries - net | (148,000,000) | (2,081,000,000) | (152,000,000) |
| Net change in restricted cash | (501,000,000) | 493,000,000 | (377,000,000) |
| Net change in short-term investments | 5,792,000,000 | 2,361,000,000 | (2,029,000,000) |
| Other, net | (141,000,000) | 130,000,000 | 259,000,000 |
| Net cash provided by (used in) investing activities - continuing operations | 15,295,000,000 | ||
| Net cash provided by investing activities | 7,433,000,000 | 482,000,000 | 15,295,000,000 |
| Cash flows from financing activities: | |||
| Issuance of long-term debt | 3,247,000,000 | 2,015,000,000 | 3,754,000,000 |
| Repayments of long-term debt | (14,468,000,000) | (7,439,000,000) | (3,238,000,000) |
| Purchase of Common Stock | (4,902,000,000) | (597,000,000) | (13,000,000,000) |
| Intercompany loans - net | 110,000,000 | (123,000,000) | (2,032,000,000) |
| Cash dividends paid | (712,000,000) | (294,000,000) | |
| Other, net | (28,000,000) | (517,000,000) | (49,000,000) |
| Net cash provided by (used in) financing activities - continuing operations | (14,565,000,000) | ||
| Net cash provided by (used in) financing activities | (16,753,000,000) | (6,955,000,000) | (14,565,000,000) |
| Net increase (decrease) in cash | (4,000,000) | (51,000,000) | (95,000,000) |
| Cash at beginning of year | 30,000,000 | 81,000,000 | 176,000,000 |
| Cash at end of year | 26,000,000 | 30,000,000 | 81,000,000 |
| Interest: | |||
| Third party | (1,624,000,000) | (1,963,000,000) | (2,089,000,000) |
| Intercompany | 5,000,000 | (12,000,000) | (133,000,000) |
| Taxes: | |||
| Income tax authorities | (18,000,000) | (161,000,000) | (7,000,000) |
| Intercompany | 1,172,000,000 | 288,000,000 | 230,000,000 |
| Payment of FRBNY Credit Facility accrued compounded interest | 0 | ||
| Non-cash financing and investing activities: | |||
| Capital contributions in the form of bond available for sale securities | 4,078,000,000 | ||
| Capital contributions to subsidiaries through forgiveness of loans | 341,000,000 | ||
| Return of capital | 4,836,000,000 | ||
| Return of capital and dividend received in the form of cancellation of intercompany loan | 9,303,000,000 | ||
| Return of capital and dividend received in the form of other bonds securities | 3,088,000,000 | 3,320,000,000 | |
| Other capital contributions - net | 2,457,000,000 | 523,000,000 | 579,000,000 |
|
AIGLH
|
|||
| Condensed Financial Statements, Captions [Line Items] | |||
| Net cash (used in) provided by operating activities | 2,682,000,000 | ||
| Cash flows from investing activities: | |||
| Contributions to subsidiaries - net | 0 | (1,000,000) | 0 |
| Net cash provided by (used in) investing activities - continuing operations | (1,000,000) | 0 | |
| Cash flows from financing activities: | |||
| Repayments of long-term debt | (477,000,000) | (245,000,000) | |
| Intercompany loans - net | (280,000,000) | (273,000,000) | (2,622,000,000) |
| Cash dividends paid | (5,358,000,000) | (3,991,000,000) | |
| Net cash provided by (used in) financing activities - continuing operations | (4,509,000,000) | (2,622,000,000) | |
| Net increase (decrease) in cash | 40,000,000 | (22,000,000) | 60,000,000 |
| Cash at beginning of year | 51,000,000 | 73,000,000 | 13,000,000 |
| Cash at end of year | 91,000,000 | 51,000,000 | 73,000,000 |
| Interest: | |||
| Third party | (87,000,000) | (111,000,000) | (128,000,000) |
| Intercompany | (7,000,000) | (21,000,000) | (56,000,000) |
| Taxes: | |||
| Intercompany | 0 | (78,000,000) | (41,000,000) |
|
Other Subsidiaries
|
|||
| Condensed Financial Statements, Captions [Line Items] | |||
| Net cash (used in) provided by operating activities | 8,979,000,000 | 7,385,000,000 | 6,387,000,000 |
| Cash flows from investing activities: | |||
| Sales of investments | 65,108,000,000 | 78,868,000,000 | 90,070,000,000 |
| Purchase of investments | (59,099,000,000) | (75,580,000,000) | (77,699,000,000) |
| Loans to subsidiaries - net | 169,000,000 | 395,000,000 | 4,654,000,000 |
| Contributions to subsidiaries - net | (296,000,000) | ||
| Net change in restricted cash | (946,000,000) | 751,000,000 | 791,000,000 |
| Net change in short-term investments | 2,968,000,000 | 5,481,000,000 | (6,080,000,000) |
| Other, net | (882,000,000) | (1,324,000,000) | (791,000,000) |
| Net cash provided by (used in) investing activities - continuing operations | 7,614,000,000 | 8,591,000,000 | 10,945,000,000 |
| Cash flows from financing activities: | |||
| Issuance of long-term debt | 3,440,000,000 | 3,220,000,000 | 4,858,000,000 |
| Repayments of long-term debt | (1,215,000,000) | (6,513,000,000) | (7,863,000,000) |
| Intercompany loans - net | (445,000,000) | (3,659,000,000) | (5,126,000,000) |
| Cash dividends paid | (14,085,000,000) | (8,439,000,000) | (4,568,000,000) |
| Other, net | (4,821,000,000) | 694,000,000 | (4,874,000,000) |
| Net cash provided by (used in) financing activities - continuing operations | (17,126,000,000) | (14,697,000,000) | (17,573,000,000) |
| Effect of exchange rate changes on cash | (74,000,000) | (92,000,000) | 16,000,000 |
| Net increase (decrease) in cash | (607,000,000) | 1,187,000,000 | (225,000,000) |
| Cash at beginning of year | 2,160,000,000 | 997,000,000 | 1,285,000,000 |
| Reclassification to assets held for sale | 88,000,000 | (24,000,000) | (63,000,000) |
| Cash at end of year | 1,641,000,000 | 2,160,000,000 | 997,000,000 |
| Interest: | |||
| Third party | (1,656,000,000) | (1,782,000,000) | (1,820,000,000) |
| Intercompany | 2,000,000 | 33,000,000 | 189,000,000 |
| Taxes: | |||
| Income tax authorities | (719,000,000) | (635,000,000) | (440,000,000) |
| Intercompany | (1,172,000,000) | (210,000,000) | (189,000,000) |
|
Reclassifications and Eliminations
|
|||
| Condensed Financial Statements, Captions [Line Items] | |||
| Net cash (used in) provided by operating activities | (19,443,000,000) | (12,430,000,000) | (4,568,000,000) |
| Cash flows from investing activities: | |||
| Sales of investments | (2,040,000,000) | (3,199,000,000) | (5,538,000,000) |
| Proceeds from divested businesses, net | 0 | ||
| Purchase of investments | 2,040,000,000 | 3,199,000,000 | 5,538,000,000 |
| Loans to subsidiaries - net | (615,000,000) | (4,055,000,000) | (9,780,000,000) |
| Contributions to subsidiaries - net | (148,000,000) | 2,082,000,000 | 152,000,000 |
| Net cash provided by (used in) investing activities - continuing operations | (763,000,000) | (1,973,000,000) | (9,628,000,000) |
| Cash flows from financing activities: | |||
| Intercompany loans - net | 615,000,000 | 4,055,000,000 | 9,780,000,000 |
| Cash dividends paid | 19,443,000,000 | 12,430,000,000 | 4,568,000,000 |
| Other, net | 148,000,000 | (2,082,000,000) | (152,000,000) |
| Net cash provided by (used in) financing activities - continuing operations | 20,206,000,000 | 14,403,000,000 | 14,196,000,000 |
| Interest: | |||
| Third party | 0 | 0 | 0 |
| Intercompany | 0 | 0 | 0 |
| Taxes: | |||
| Income tax authorities | 0 | 0 | 0 |
| Intercompany | $ 0 | $ 0 | $ 0 |
| X | ||||||||||
|
- Definition
Securities received in lieu of cash as return of capital and dividends from subsidiaries. No definition available.
|
| X | ||||||||||
|
- Definition
The noncash issuance of equity interests in exchange for debt forgiveness. No definition available.
|
| X | ||||||||||
|
- Definition
The net capital contributions made by the entity. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the period to related party entities, net of any cash received during the period as refunds for overpayment of taxes. No definition available.
|
| X | ||||||||||
|
- Definition
The cash flows associated with short-term investments, which consist of interest-bearing cash equivalents, time deposits, and investments with original maturities within one year from the date of purchase, such as commercial paper. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the details pertaining to the return of capital No definition available.
|
| X | ||||||||||
|
- Definition
Represents the details pertaining to the return of capital and dividend received in the form of cancellation of intercompany loans. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the period for interest owed on intercompany loans. It includes amounts of interest capitalized. No definition available.
|
| X | ||||||||||
|
- Definition
Represents cash outflow as a result of payment made for accrued compounded interest and fees in respect to credit facility of the reporting entity. No definition available.
|
| X | ||||||||||
|
- Definition
The net cash outflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
The net cash outflow (inflow) from other financing activities not specified in the statement. No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds from (payments for) long-term loans for affiliates classified as a financing activity. No definition available.
|
| X | ||||||||||
|
- Definition
Unrestricted cash available for day-to-day operating needs reclassified during the period to businesses held for sale. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the details pertaining to return of capital and dividend received in the form of bond trading securities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash. Cash is the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of noncontrolling interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the cash inflow during the period from the sale of a component of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from other long-term borrowings not otherwise defined in the taxonomy (with maturities initially due beyond one year or the normal operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow or outflow associated with long-term loans for related parties where one party can exercise control or significant influence over another party, including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from (Payments for) Advances to Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale, maturity and collection of all investments such as debt, security and so forth during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow attributable to repayments of borrowings not otherwise defined in the taxonomy (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
SUBSEQUENT EVENTS (Details) (USD $)
|
0 Months Ended | 12 Months Ended | 0 Months Ended | ||||
|---|---|---|---|---|---|---|---|
|
Aug. 01, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Feb. 12, 2015
Subsequent event
|
Jan. 15, 2015
Subsequent event
3.875 % Notes due 2035
|
Jan. 15, 2015
Subsequent event
4.375 % Notes due 2055
|
|
| Subsequent Event [Line Items] | |||||||
| Aggregate principal amount of debt issued | $ 1,200,000,000 | $ 800,000,000 | |||||
| Interest rate (as a percent) | 3.875% | 4.375% | |||||
| Dividends declared per common share | $ 0.5 | $ 0.2 | $ 0 | $ 0.125 | |||
| Authorized amount of common Stock share repurchase | 2,500,000,000 | ||||||
| Aggregate remaining authorization amount of common Stock share repurchase | $ 1,000,000,000 | $ 2,500,000,000 | |||||
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of a stock repurchase plan authorized by an entity's Board of Directors. No definition available.
|
| X | ||||||||||
|
- Definition
Amount remaining of a stock repurchase plan authorized by an entity's Board of Directors. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents the carrying (reported) amount of the entity's investments as of the balance sheet date. This amount may represent the individual investment's or group of similar investments' original cost, fair value, or such other amount at which the investment is shown in the entity's balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the original cost of the entity's investments including investments in equity securities and, as to fixed maturities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the reported amount of the entity's investments measured at fair value. Fair value is the price that would be received to sell an investment in an orderly transaction between market participants at the balance sheet [measurement] date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of intercompany derivative liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of the unpaid sum of known and estimated amounts payable to satisfy all intercompany tax obligations due. This amount is the total of current and noncurrent accrued income taxes. No definition available.
|
| X | ||||||||||
|
- Definition
The total of current income taxes and deferred income taxes. Current income taxes represent the carrying amount as of the balance sheet date of income taxes previously overpaid to tax authorities representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Deferred income taxes represent the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; net of deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. No definition available.
|
| X | ||||||||||
|
- Definition
Other investments on the condensed balance sheet not otherwise specified in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of liabilities not otherwise listed in this statement, including intercompany balances. No definition available.
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Long-Term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. This does not include advances to clients. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of obligations due all related parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the change in the fair value of the entity's equity interest in Maiden Lane III LLC (ML III). No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the sum total of the policyholder's benefits and claims incurred, policy acquisition and other insurance expenses, certain portion of restructuring expense and loss (gain) on sale of divested business, etc. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue and income recognized by the entity in the period not otherwise specified in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the net realized gains or (losses) on investments, including available for sale and trading securities, real estate investments, loans, and derivative instruments. Also includes other-than temporary impairment charges, the provision for loan losses, foreign currency transactions and other charges related to the valuation of these investments in the period. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents disclosure of the aggregate cash dividends paid to the entity by consolidated subsidiaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Schedule II Condensed Financial Information of Registrant - Parent Company Only (Details 3) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Sep. 30, 2014
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Condensed Financial Statements, Captions [Line Items] | |||||||||||
| Net income | $ 675 | $ 2,201 | $ 3,036 | $ 1,612 | $ 1,973 | $ 2,130 | $ 2,758 | $ 2,231 | $ 7,524 | $ 9,092 | $ 3,700 |
| Other Comprehensive Income (Loss) | 4,257 | (6,237) | 6,096 | ||||||||
| Comprehensive income attributable to AIG | 11,786 | 2,871 | 9,531 | ||||||||
|
Parent Company [Member]
|
|||||||||||
| Condensed Financial Statements, Captions [Line Items] | |||||||||||
| Net income | 7,529 | 9,085 | 3,438 | ||||||||
| Other Comprehensive Income (Loss) | 4,257 | (6,214) | 6,093 | ||||||||
| Comprehensive income attributable to AIG | $ 11,786 | $ 2,871 | $ 9,531 | ||||||||
| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Schedule II Condensed Financial Information of Registrant - Parent Company Only (Details 4) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Condensed Cash Flow Statements, Captions [Line Items] | |||
| Net cash provided by operating activities | $ 5,007,000,000 | $ 5,865,000,000 | $ 3,676,000,000 |
| Cash flows from investing activities: | |||
| Proceeds from divested businesses, net | 2,348,000,000 | ||
| Purchase of investments | (58,110,000,000) | (77,887,000,000) | (76,567,000,000) |
| Net change in restricted cash | (1,447,000,000) | 1,244,000,000 | 414,000,000 |
| Net change in short-term investments | 8,760,000,000 | 7,842,000,000 | (8,109,000,000) |
| Payments received on mortgages and other loan receivables | 3,856,000,000 | 3,420,000,000 | 3,313,000,000 |
| Net cash provided by investing activities | 14,284,000,000 | 7,099,000,000 | 16,612,000,000 |
| Cash flows from financing activities: | |||
| Issuance of long-term debt | 6,687,000,000 | 5,235,000,000 | 8,612,000,000 |
| Repayments of long-term debt | (16,160,000,000) | (14,197,000,000) | (11,101,000,000) |
| Cash dividends paid | (712,000,000) | (294,000,000) | |
| Purchase of Common Stock | (4,902,000,000) | (597,000,000) | (13,000,000,000) |
| Other, net | (4,701,000,000) | (1,905,000,000) | (5,075,000,000) |
| Net cash provided by (used in) financing activities | (19,788,000,000) | (11,758,000,000) | (20,564,000,000) |
| Net increase (decrease) in cash | (571,000,000) | 1,114,000,000 | (260,000,000) |
| Cash at beginning of year | 2,241,000,000 | 1,151,000,000 | 1,474,000,000 |
| Cash at end of year | 1,758,000,000 | 2,241,000,000 | 1,151,000,000 |
| Interest: | |||
| Third party | (3,367,000,000) | (3,856,000,000) | (4,037,000,000) |
| Taxes: | |||
| Income tax authorities | (737,000,000) | (796,000,000) | (447,000,000) |
|
Parent Company [Member]
|
|||
| Condensed Cash Flow Statements, Captions [Line Items] | |||
| Net cash provided by operating activities | 9,316,000,000 | 6,422,000,000 | (825,000,000) |
| Cash flows from investing activities: | |||
| Sales and maturities of investments | 2,996,000,000 | 1,074,000,000 | 16,546,000,000 |
| Purchase of investments | (1,051,000,000) | (5,506,000,000) | (4,406,000,000) |
| Net change in restricted cash | (501,000,000) | 493,000,000 | (377,000,000) |
| Net change in short-term investments | 5,792,000,000 | 2,361,000,000 | (2,029,000,000) |
| Contributions to subsidiaries - net | (148,000,000) | (2,081,000,000) | (152,000,000) |
| Payments received on mortgages and other loan receivables | 40,000,000 | 351,000,000 | 328,000,000 |
| Loans to subsidiaries - net | 446,000,000 | 3,660,000,000 | 5,126,000,000 |
| Other, net | (141,000,000) | 130,000,000 | 259,000,000 |
| Net cash provided by investing activities | 7,433,000,000 | 482,000,000 | 15,295,000,000 |
| Cash flows from financing activities: | |||
| Issuance of long-term debt | 3,247,000,000 | 2,015,000,000 | 3,754,000,000 |
| Repayments of long-term debt | (14,468,000,000) | (7,439,000,000) | (3,238,000,000) |
| Cash dividends paid | (712,000,000) | (294,000,000) | |
| Loans from subsidiaries - net | 110,000,000 | (123,000,000) | (2,032,000,000) |
| Purchase of Common Stock | (4,902,000,000) | (597,000,000) | (13,000,000,000) |
| Other, net | (28,000,000) | (517,000,000) | (49,000,000) |
| Net cash provided by (used in) financing activities | (16,753,000,000) | (6,955,000,000) | (14,565,000,000) |
| Net increase (decrease) in cash | (4,000,000) | (51,000,000) | (95,000,000) |
| Cash at beginning of year | 30,000,000 | 81,000,000 | 176,000,000 |
| Cash at end of year | 26,000,000 | 30,000,000 | 81,000,000 |
| Interest: | |||
| Third party | (1,624,000,000) | (1,963,000,000) | (2,089,000,000) |
| Intercompany | 5,000,000 | (12,000,000) | (133,000,000) |
| Taxes: | |||
| Income tax authorities | (18,000,000) | (161,000,000) | (7,000,000) |
| Intercompany | 1,172,000,000 | 288,000,000 | 230,000,000 |
| Non-cash investing/financing activities: | |||
| Capital contributions in the form of available for sale securities | 4,078,000,000 | ||
| Capital contributions to subsidiaries through forgiveness of loans | 341,000,000 | ||
| Other capital contributions - net | 2,457,000,000 | 523,000,000 | 579,000,000 |
| Return of capital | 4,836,000,000 | ||
| Return of capital and dividend received in the form of cancellation of intercompany loan | 9,303,000,000 | ||
| Return of capital and dividend received in the form of other bonds securities | 3,088,000,000 | 3,320,000,000 | |
| Payment of accrued compounded interest of FRBNY Credit Facility | $ 0 | ||
| X | ||||||||||
|
- Definition
Securities received in lieu of cash as return of capital and dividends from subsidiaries. No definition available.
|
| X | ||||||||||
|
- Definition
The noncash issuance of equity interests in exchange for debt forgiveness. No definition available.
|
| X | ||||||||||
|
- Definition
The net capital contributions made by the entity. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the period to related party entities, net of any cash received during the period as refunds for overpayment of taxes. No definition available.
|
| X | ||||||||||
|
- Definition
The cash flows associated with short-term investments, which consist of interest-bearing cash equivalents, time deposits, and investments with original maturities within one year from the date of purchase, such as commercial paper. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the details pertaining to the return of capital No definition available.
|
| X | ||||||||||
|
- Definition
Represents the details pertaining to the return of capital and dividend received in the form of cancellation of intercompany loans. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the period for interest owed on intercompany loans. It includes amounts of interest capitalized. No definition available.
|
| X | ||||||||||
|
- Definition
Represents cash outflow as a result of payment made for accrued compounded interest and fees in respect to credit facility of the reporting entity. No definition available.
|
| X | ||||||||||
|
- Definition
The net cash outflow (inflow) from other financing activities not specified in the statement. No definition available.
|
| X | ||||||||||
|
- Definition
The net cash outflow (inflow) from other investment activities not specified in the statement. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow associated with mortgage loans on real estate, policy loans and collateral, commercial and guaranteed loans. No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds from (payments for) long-term loans for affiliates classified as a financing activity. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow from the sale and maturities of all investments such as debt and equity securities during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the details pertaining to return of capital and dividend received in the form of bond trading securities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash. Cash is the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of noncontrolling interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the cash inflow during the period from the sale of a component of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from other long-term borrowings not otherwise defined in the taxonomy (with maturities initially due beyond one year or the normal operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow or outflow associated with long-term loans for related parties where one party can exercise control or significant influence over another party, including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from (Payments for) Advances to Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow attributable to repayments of borrowings not otherwise defined in the taxonomy (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization of deferred policy acquisition costs recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of insurance benefits, claims, losses and settlement expenses incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force on the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of reserves for future policy claims payable and loss expenses to be incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of net investment income earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of other operating expense incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of claims and benefits payable not included within other categories. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of premium revenue earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of actual written premiums, including, as applicable, premiums from reinsurance assumed and net of premiums on reinsurance ceded. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of premiums not yet earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the face amount of policies under insurance contracts in force as of the balance sheet date before reinsurance activity. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the face amount of policies under insurance contracts in force as of the balance sheet date that have been assumed from other companies. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the face amount of policies under insurance contracts in force as of the balance sheet date, net of reinsurance activity. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of the face amount of policies assumed from other companies to the net amount of policies in force. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of assumed premiums written by the entity to net premiums written. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of written premiums assumed from other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of written premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, before premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the participating business in force. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Schedule V Valuation and Qualifying Accounts (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
|
Divested Businesses
|
|||
| Valuation and Qualifying Accounts | |||
| Net change | $ 1 | $ (6) | $ 0 |
|
Allowance for mortgage and other loans receivable
|
|||
| Valuation and Qualifying Accounts | |||
| Balance at the beginning of the year | 312 | 405 | 740 |
| Charged to costs and expenses | (8) | 20 | (103) |
| Charge offs | (68) | (116) | (44) |
| Other changes | 34 | 9 | 17 |
| Balance at the end of the year | 271 | 312 | 405 |
|
Allowance for mortgage and other loans receivable | Segment Discontinued Operations
|
|||
| Valuation and Qualifying Accounts | |||
| Net change | 0 | (205) | |
|
Allowance for premiums and insurances balances receivable
|
|||
| Valuation and Qualifying Accounts | |||
| Balance at the beginning of the year | 560 | 624 | 484 |
| Charged to costs and expenses | 35 | 14 | 174 |
| Charge offs | (99) | (74) | (36) |
| Other changes | (65) | (4) | 2 |
| Balance at the end of the year | 431 | 560 | 624 |
|
Allowance for reinsurance assets
|
|||
| Valuation and Qualifying Accounts | |||
| Balance at the beginning of the year | 276 | 338 | 364 |
| Charged to costs and expenses | 4 | (42) | (4) |
| Charge offs | (3) | (31) | (1) |
| Other changes | (19) | 11 | (21) |
| Balance at the end of the year | 258 | 276 | 338 |
|
Federal and foreign valuation allowance for deferred tax assets
|
|||
| Valuation and Qualifying Accounts | |||
| Balance at the beginning of the year | 3,596 | 8,036 | 11,047 |
| Charged to costs and expenses | (181) | (3,165) | (1,907) |
| Charge offs | 0 | 0 | 0 |
| Other changes | (1,676) | (1,235) | (1,104) |
| Balance at the end of the year | 1,739 | 3,596 | 8,036 |
|
Federal and foreign valuation allowance for deferred tax assets | Segment Discontinued Operations
|
|||
| Valuation and Qualifying Accounts | |||
| Net change | $ 0 | $ (40) | |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total of the adjustments in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, charged to costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the deductions in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, representing receivables written off as uncollectible and portions of the reserves utilized, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total increases or decreases in allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|