What is a cash flow waterfall?

A cash flow waterfall is a bar chart that walks from operating cash flow through capital expenditure to free cash flow, then shows how the remaining cash is allocated — acquisitions, buybacks, dividends, debt, and other financing — ending at the net change in cash. Each step is colour-coded: green bars add to the running total, red bars subtract.

How does American International Group (AIG) spend its free cash flow?

For TTM through Q1 2026, American International Group generated $3.53B of operating cash flow and $3.53B of free cash flow — a free cash flow margin of 100% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did American International Group (AIG) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent American International Group's shareholder returns for TTM through Q1 2026. You can compare these against free cash flow to assess the capital-return payout ratio.

American International Group (AIG) Cash Flow Waterfall

Operating CF

$3.53B

Capex

$0.00

Free Cash Flow

$3.53B

FCF Margin

+100.0%

Cash flow waterfall for American International Group (AIG) — TTM through Q1 2026

Free cash flow: $3.53B

Note: Other Investing is large — driven mainly by purchases or sales of investments.

Cash flow breakdown for American International Group (AIG) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$3.53B	$3.53B
Capital Expenditure	$0.00	$3.53B
Free Cash Flow	$3.53B	$3.53B
Other Investing	$1.27B	$4.8B
Share Buybacks	-$4.12B	$682M
Dividends Paid	-$983M	-$301M
Net Debt Change	$380M	$79M
Other Financing & FX	$41M	$120M
Net Cash Increase	$120M	$120M

Operating Cash Flow$3.53B
Capital Expenditure$0.00
Free Cash Flow$3.53B
Other Investing$1.27B
Share Buybacks-$4.12B
Dividends Paid-$983M
Net Debt Change$380M
Other Financing & FX$41M
Net Cash Increase$120M

Want to see what drove the FCF change?Free Cash Flow Bridge

Frequently asked questions

Data & methodology

American International Group (AIG) Key Financials

Charts, filings, and peer comparison for every metric

Income Statement

Balance Sheet

Profitability

Cash Flow

Capital Return

Forecast & Valuation

Operations

Employees22.1K

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

AIG Overview

Counters