AEGIS is a lattice physics code incorporating the latest advances in lattice physics computation, innovative calculation models and efficient numerical algorithms and is mainly used for light water reactor analyses. Though the primary objective of the AEGIS code is the preparation of a cross section set for SCOPE2 that is a three-dimensional pin-by-pin core analysis code, the AEGIS code can handle not only a fuel assembly but also multi-assemblies and a whole core geometry in two-dimensional geometry. The present paper summarizes the major calculation models and part of the verification/validation efforts related to the AEGIS code.