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EXHIBIT 11
Computation of Earnings Per Share American International Group, Inc. and Subsidiaries
(in thousands, except per share amounts)
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YEARS ENDED DECEMBER 31, 1996 1995 1994(a) 1993(a) 1992(a)
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Average outstanding shares used in the computation of
per share earnings:
Common stock issued 506,084 506,085 506,086 506,089 506,093
Common stock in treasury (35,039) (32,063) (31,207) (29,897) (29,637)
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Average outstanding shares 471,045 474,022 474,879 476,192 476,456
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Income before cumulative effect of accounting changes $ 2,897,257 $ 2,510,383 $ 2,175,515 $ 1,917,035 $ 1,620,544
Cumulative effect of accounting changes, net of tax
AIG -- -- -- -- 31,941
Minority-owned insurance operations -- -- -- 20,695 --
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Net income (applicable to common stock)(b) $ 2,897,257 $ 2,510,383 $ 2,175,515 $ 1,937,730 $ 1,652,485
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Earnings per share:(c)
Income before cumulative effect of accounting changes $ 6.15 $ 5.30 $ 4.58 $ 4.03 $ 3.40
Cumulative effect of accounting changes, net of tax
AIG -- -- -- -- 0.07
Minority-owned insurance operations -- -- -- 0.04 --
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Net income $ 6.15 $ 5.30 $ 4.58 $ 4.07 $ 3.47
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(a) Adjusted to reflect a common stock split in the form of a 50 percent common
stock dividend paid July 28, 1995.
(b) After deductions in 1993 and 1992 of preferred stock dividends of $1,043 and
$4,471, respectively.
(c) The effect of all other common stock equivalents is not significant;
therefore, this information is not presented.
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