American International Group (AIG) has submitted financial statements the Securities and Exchange Commission (SEC) in preparation for its plans to regain access to the capital markets.

Robert H. Benmosche, president and chief executive officer of AIG, has said AIG may offer an undisclosed amount of stock to the public in early 2011.

Income from continuing operations was about $4.3 billion at Sept. 30, AIG said. The total includes the company’s assets after converting the U.S. government’s ownership of the company into common stock, according to the filing.

AIG actually reported net income of about $1.1 billion after nine months.

AIG will own less than 8% of its common stock once it uses $22 billion in available Troubled Asset Relief Program funds to purchase an equal amount of interest in each special purpose vehicle (SPV) holding AIA Group Ltd. and American Life Insurance Company (ALICO). AIG will then give the interest in the SPVs to Treasury, which will allow the Treasury to sell stock to the public. This could happen at the same time AIG offers its IPO.

Treasury, which had owned 80% of AIG after the bailout two years ago, is to own 92% of the common stock of AIG after it converts the $49.1 billion of preferred shares it has under TARP into about 1.7 billion shares of common stock.

Two weeks before AIG announced its third quarter earnings, the company said it raised enough money from its sale of ALICO to MetLife Inc. and an initial public offering of AIA Group Ltd. in Hong King to repay a line of credit with the Federal Reserve Bank of New York.