Reconciliation of Net Income (Loss) Attributable to AGL to Adjusted Operating Income (Loss) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in millions) Net income (loss) attributable to AGL $ 183 $ 142 $ 128 $ 196 Less pre-tax adjustments: Realized gains (losses) on investments 4 8 (1 ) (4 ) Non-credit impairment unrealized fair value gains (losses) on credit derivatives 97 (12 ) 9 (40 ) Fair value gains (losses) on CCS (25 ) 19 23 10 Foreign exchange gains (losses) on remeasurement of premiums receivable and loss and LAE reserves 2 (12 ) (55 ) (3 ) Total pre-tax adjustments 78 3 (24 ) (37 ) Less tax effect on pre-tax adjustments (14 ) (2 )  6 Adjusted operating income (loss) $ 119 $ 141 $ 152 $ 227 The following tables present the Company's operations by operating segment. The information for the prior year has been conformed to the new segment presentation. Segment Information Second Quarter 2020 Insurance Asset Management Corporate Other Total (in millions) Third-party revenues $ 244 $ 12 $  $ 38 $ 294 Intersegment revenues 2 1  (3 )  Total revenues 246 13  35 294 Total expenses 90 24 32 4 150 Income (loss) before income taxes and equity in net earnings of investees 156 (11 ) (32 ) 31 144 Equity in net earnings of investees 26   (26 )  Adjusted operating income (loss) before income taxes 182 (11 ) (32 ) 5 144 Provision (benefit) for income taxes 28 (2 ) (6 )  20 Noncontrolling interests    5 5 Adjusted operating income (loss) $ 154 $ (9 ) $ (26 ) $  $ 119 Supplemental income statement information Net investment income $ 82 $  $  $ (4 ) $ 78 Interest expense   23 (2 ) 21 Non-cash compensation and operating expenses (1) 9 6   15 Second Quarter 2019 Insurance Asset Management Corporate Other Total (in millions) Third-party revenues $ 241 $  $ 1 $ 21 $ 263 Intersegment revenues      Total revenues 241  1 21 263 Total expenses 40  31 14 85 Income (loss) before income taxes and equity in net earnings of investees 201  (30 ) 7 178 Equity in net earnings of investees 1    1 Adjusted operating income (loss) before income taxes 202  (30 ) 7 179 Provision (benefit) for income taxes 41  (4 ) 1 38 Noncontrolling interests      Adjusted operating income (loss) $ 161 $  $ (26 ) $ 6 $ 141 Supplemental income statement information Net investment income $ 110 $  $ 1 $ (1 ) $ 110 Interest expense   22  22 Non-cash compensation and operating expenses (1) 9  2  11 Six Months Ended June 30, 2020 Insurance Asset Management Corporate Other Total (in millions) Third-party revenues $ 437 $ 28 $ (4 ) $ 23 $ 484 Intersegment revenues 5 2  (7 )  Total revenues 442 30 (4 ) 16 484 Total expenses 174 52 67 3 296 Income (loss) before income taxes and equity in net earnings of investees 268 (22 ) (71 ) 13 188 Equity in net earnings of investees 17  (5 ) (16 ) (4 ) Adjusted operating income (loss) before income taxes 285 (22 ) (76 ) (3 ) 184 Provision (benefit) for income taxes 46 (4 ) (11 ) (1 ) 30 Noncontrolling interests    2 2 Adjusted operating income (loss) $ 239 $ (18 ) $ (65 ) $ (4 ) $ 152 Supplemental income statement information Net investment income $ 165 $  $ 1 $ (8 ) $ 158 Interest expense   48 (5 ) 43 Non-cash compensation and operating expenses (1) 18 9 3  30 Six Months Ended June 30, 2019 Insurance Asset Management Corporate Other Total (in millions) Third-party revenues $ 474 $  $ 1 $ 22 $ 497 Intersegment revenues 1   (1 )  Total revenues 475  1 21 497 Total expenses 147  62 14 223 Income (loss) before income taxes and equity in net earnings of investees 328  (61 ) 7 274 Equity in net earnings of investees 2  1  3 Adjusted operating income (loss) before income taxes 330  (60 ) 7 277 Provision (benefit) for income taxes 58  (9 ) 1 50 Noncontrolling interests      Adjusted operating income (loss) $ 272 $  $ (51 ) $ 6 $ 227 Supplemental income statement information Net investment income $ 209 $  $ 2 $ (3 ) $ 208 Interest expense   46 (1 ) 45 Non-cash compensation and operating expenses (1) 20  3  23 _____________________ (1) Consists of amortization of deferred acquisition costs and intangible assets, depreciation and share-based compensation The following table reconciles the Company's total consolidated revenues and expenses to segment revenues and expenses: Reconciliation of Segment Revenues and Expenses Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (in millions) Revenues Total consolidated revenues $ 372 $ 266 $ 468 $ 461 Less: Realized gains (losses) on investments 4 8 (1 ) (4 ) Less: Non-credit impairment unrealized fair value gains (losses) on credit derivatives 97 (12 ) 9 (40 ) Less: Fair value gains (losses) on CCS (25 ) 19 23 10 Less: Foreign exchange gains (losses) on remeasurement of premiums receivable and loss and LAE reserves 2 (12 ) (55 ) (3 ) Plus: Credit derivative impairment (recoveries) (1)   (8 ) (1 ) Total segment revenues $ 294 $ 263 $ 484 $ 497 Expenses Total consolidated expenses $ 150 $ 85 $ 304 $ 224 Plus: Credit derivative impairment (recoveries) (1)   (8 ) (1 ) Total segment expenses $ 150 $ 85 $ 296 $ 223 _____________________ (1) Credit derivative impairment (recoveries) are included in "Net change in fair value of credit derivatives" in the Company's condensed consolidated statements of operations.