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Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | The following table lists our total debt outstanding at December 31, 2024 and 2023. The interest rates presented in the following table are the range of contractual rates in effect at December 31, 2024, including fixed and variable-rates:
At December 31, 2024 | Range of Interest Rate(s) | Maturity Date(s) | Balance at December 31, 2024 | Balance at December 31, 2023
(in millions)
General borrowings: |  |  |  |  |  |
Notes and bonds payable | 1.58% - 6.82% | 2025 - 2055 | $ | 7,885 |  | $ | 9,079 |
Junior subordinated debt | 5.75% - 8.18% | 2037 - 2058 |  | 602 |  |  | 992 |
AIG Japan Holdings Kabushiki Kaisha | 0.27% - 0.73% | 2025 |  | 239 |  |  | 267 |
Total general borrowings |  |  |  | 8,726 |  |  | 10,338 |
Borrowings supported by assets | 4.48% - 7.05% | 2025 - 2046 |  | 37 |  |  | 37 |
Other subsidiaries' notes, bonds, loans and mortgages payable - not guaranteed by AIG | 9.96% - 10.46% | 2027 - 2028 |  | 1 |  |  | — |
Total long-term debt |  |  |  | 8,764 |  |  | 10,375 |
Debt of consolidated investment entities - not guaranteed by AIG* | 4.15% - 4.48% | 2026 - 2028 |  | 158 |  |  | 231 |
Total debt |  |  | $ | 8,922 |  | $ | 10,606 |
*At December 31, 2024, includes debt of consolidated investment entities primarily related to real estate investments of $158 million. At December 31, 2023, includes debt of consolidated investment entities related to real estate investments of $79 million and other securitization vehicles of $152 million.
Schedule of Maturities of Long-Term Debt | The following table presents maturities of long-term debt (including unamortized original issue discount, hedge accounting valuation adjustments and fair value adjustments, when applicable):
December 31, 2024 |  |  |  |  |  | Year Ending
(in millions) |  | Total |  |  |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter
General borrowings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes and bonds payable | $ | 7,885 |  |  |  | $ | 146 |  | $ | 265 |  | $ | 848 |  | $ | 830 |  | $ | 257 |  |  | $ | 5,539 |
Junior subordinated debt |  | 602 |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 602 |
AIG Japan Holdings Kabushiki Kaisha |  | 239 |  |  |  |  | 239 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total general borrowings |  | 8,726 |  |  |  |  | 385 |  |  | 265 |  |  | 848 |  |  | 830 |  |  | 257 |  |  | 6,141 |
Borrowings supported by assets |  | 37 |  |  |  |  | 12 |  |  | 7 |  |  | — |  |  | — |  |  | — |  |  | 18 |
Other subsidiaries notes, bonds, loans and mortgages payable |  | 1 |  |  |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total long-term debt* | $ | 8,764 |  |  |  | $ | 398 |  | $ | 272 |  | $ | 848 |  | $ | 830 |  | $ | 257 |  |  | $ | 6,159 |
*Does not reflect $158 million of notes issued by consolidated investment entities, for which recourse is limited to the assets of the respective investment entities and for which there is no recourse to the general credit of AIG.

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