American International (AIG) 10-K2010 FY Annual report

Filed: 24 Feb 11, 12:00am

Content analysis

Positive
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Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Bad

New words: accidental, adjourned, admissibility, aerospace, AIGGRE, ALFC, ALIC, ALIL, andDomestic, appraised, art, articulated, Atlanta, Aurora, Autorit, AXXX, BaFIN, baggage, Bancaire, bargain, baseline, BCFP, Berkowitz, body, bolster, Bruce, buffer, built, burdensome, Bureau, Cadwalader, cancer, carrier, certainty, CFG, CFTC, chaired, clause, coast, concert, concierge, conglomerate, constraint, costly, danger, Deepwater, delicto, denial, derecognized, destroyed, diagnosed, disbursed, discreet, distributor, doctrine, Donald, drilling, EGP, eighteen, email, en, enacted, enactment, enrollment, equitable, estoppel, Eurozone, evenly, explosion, Fairholme, FDIC, feasible, FIO, Fitzpatrick, footprint, foreclosure, forensic, forma, Fortune, France, franchise, FRB, FSA, FSAP, grave, GRC, Gulf, headquartered, Heritage, horizon, household, Hungary, hurt, imminent, inaccessible, incomplete, incurrence, inPalm, instance, interlock, interlocutory, Irish, Italian, Italy, jointly, JP, Kevin, KeyCorp, kind, land, Layton, learned, leg, leisure, lock, LTIP, LTPU, manufacture, manufactured, Medicaid, menu, Midwest, Milan, Miller, mind, mishandling, missing, misuse, multistate, Napier, NCCI, newer, nonadmitted, noncredit, nondeductible, novated, NPW, obsolescence, obsolete, OEP, ofin, Oliver, organizational, overarching, overlapping, overriding, pain, PalmTree, pari, Parliament, payload, perspective, Peter, physician, plain, PML, Portugal, prescription, primacy, privacy, promise, promissory, prosecutor, provisional, Prudentiel, pure, recapitalization, recapitalize, recapitalized, redefinition, redeploying, redeployment, redistribute, regain, regime, renamed, retrieve, Richard, Rittenmeyer, Ronald, safeguard, SAFG, Sankaran, saving, seeThe, sentiment, Shamieh, Sid, sinking, SMI, soft, solid, solidified, SPA, Spain, spill, sponsorship, spur, stage, statutorily, Stone, store, stream, streamlined, stricter, summer, supervisor, Taft, takeover, tampering, theDelaware, theHeritage, theIn, therewith, threatened, tolerance, tornado, travel, Tree, Tribuna, trip, Turkey, uncover, undergoing, undertook, undocumented, uniform, uniformity, unilateral, unopposed, unsatisfactory, unspecified, vacated, valuable, vanilla, Volcker, Wanda, weigh, Wickersham, withdrew, worse, Wyman, XIV, XXX, yacht, Zurich

Removed: accreted, Aflac, Africa, AG, AGLA, AIGCFG, AIU, Allied, amounting, anticompetitive, Ascot, Asian, attracting, attribute, Badische, Bensinger, Blackstone, Boiler, Caribbean, Carolina, challenge, Chubb, commit, conspiratorial, conspired, contingently, continuously, convexity, Corinne, correction, creation, declaratory, deep, deferring, derecognition, designing, diminished, diversifying, divest, divestment, divide, dominated, double, dropped, DSU, endorsement, Evansville, examined, explanation, exploring, extendible, facilitated, figure, fulfilling, gradually, Greensboro, hire, impair, inadequately, incurring, Indonesia, inland, Inspection, insulated, Juan, label, lend, lent, lessor, leveraged, Lincoln, Livingston, mild, Nashville, North, opportunistically, passively, permanently, Philamlife, Philippine, presently, privilege, prohibit, proportionately, Puerto, quantity, reclassifying, recommendation, reestimated, referring, refused, repurchased, restrain, rider, Rim, risky, San, scoring, seasoned, seasoning, situation, Southeast, St, stand, standardization, Steam, structuring, subplan, Sullivan, supply, syndicate, Tata, Tenancy, Tennessee, traditionally, transport, und, underlie, unimpaired, unprecedented, upgraded, Vietnam, warehouse, warehousing, water, wealth, Wilmington, wrapped, XL, Zealand

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American International Group, Inc., and Subsidiaries

Exhibit 12

Computation of Ratios of Earnings to Fixed Charges

Years Ended December 31, (in millions, except ratios)		2010		2009			2008			2007		2006



Earnings:
	Pre-tax income (loss)^(a):	$	17,936	$	(13,990	)	$	(103,056	)	$	4,697	$	16,300
	Add – Fixed charges		8,812		16,592			20,456			11,470		9,062

	Adjusted Pre-tax income		26,748		2,602			(82,600	)		16,167		25,362

Fixed charges:
	Interest expense	$	7,613	$	15,136		$	17,665		$	4,553	$	3,715
	Portion of rent expense representing interest		196		244			299			257		219
	Interest credited to policy and contract holders		1,002		1,212			2,492			6,660		5,128

Total fixed charges		$	8,812	$	16,592		$	20,456		$	11,470	$	9,062

	Preferred stock dividend requirements	$	-	$	1,204		$	400		$	-	$	-
Total fixed charges and preferred stock dividend requirements		$	8,812	$	17,796		$	20,856		$	11,470	$	9,062
Total fixed charges, excluding interest credited to policy
	and contract holders	$	7,809	$	15,380		$	17,964		$	4,810	$	3,934

Ratio of earnings to fixed charges:
	Ratio		3.03		n/a			n/a			1.41		2.80
	Coverage deficiency		n/a		(13,990	)		(103,056	)		n/a		n/a

Ratio of earnings to fixed charges and preferred stock dividends:
	Ratio		3.03		n/a			n/a			1.41		2.80
	Coverage deficiency		n/a		(15,194	)		(103,456	)		n/a		n/a

*Ratio of earnings to fixed charges, excluding interest credited to policy and contract holders^(b)***:
	Ratio		3.42		n/a			n/a			3.36		6.45
	Coverage deficiency		n/a		(12,778	)		(100,564	)		n/a		n/a

(a): From continuing operations, excluding undistributed earnings (loss) from equity method investments and capitalized interest.
(b): The Ratio of earnings to fixed charges excluding interest credited to policy and contract holders removes interest credited to guaranteed investment contract (GIC) policyholders and guaranteed investment agreement (GIA) contract holders. Such interest expenses are also removed from earnings used in this calculation. GICs and GIAs are entered into by AIG's subsidiaries. The proceeds from GICs and GIAs are invested in a diversified portfolio of securities, primarily investment grade bonds. The assets acquired yield rates greater than the rates on the related policyholders obligation or contract, with the intent of earning a profit from the spread.

400 AIG 2010 Form 10-K