Toggle SGML Header (+)


Section 1: 8-K (8-K)

Document
false0000820027 0000820027 2020-05-06 2020-05-06


 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM
8-K
 
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 6, 2020
AMERIPRISE FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
 
 
Delaware
 
001-32525
 
13-3180631
 
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
 
 
55 Ameriprise Financial Center
 
Minneapolis
 
Minnesota
 
55474
 
(Address of principal executive offices)
(Zip Code)
 
Registrant’s telephone number, including area code
612
671-3131
 
Former name or former address, if changed since last report:
Not Applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
 
Trading Symbol
 
Name of each exchange on which registered
 
Common Stock (par value $.01 per share)
AMP
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
 
 







Item 2.02      Results of Operations and Financial Condition.
 
On May 6, 2020, Ameriprise Financial, Inc. (the “Company,” “we,” or “our”) issued a press release announcing its financial results for the first quarter of 2020.  A copy of the press release is attached as Exhibit 99.1 to this Current Report on
Form 8-K and is incorporated herein by reference and furnished herewith. In addition, the Company furnishes herewith, as Exhibit 99.2, its Statistical Supplement for the quarterly period ended March 31, 2020.
 
We follow accounting principles generally accepted in the United States (“GAAP”). The press release furnished as Exhibit 99.1 and the financial information furnished as Exhibit 99.2 include information on both a GAAP and non-GAAP adjusted basis. Certain non-GAAP performance measures in these exhibits exclude the impact of consolidating certain investment entities (“CIEs”), as well as certain integration/restructuring charges, the impact of our annual review of insurance and annuity valuation assumptions and model changes ("unlocking"), market impact on variable annuity guaranteed benefits, market impact on indexed universal life benefits, market impact on fixed index annuity benefits, mean reversion related impacts, market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments, net realized investment gains (losses), and income (loss) from discontinued operations, gain or loss on disposal of business that is not considered discontinued operations. Management believes that the presentation of these non-GAAP financial measures better reflects the underlying performance of our 2020 and 2019 core operations and facilitates a more meaningful trend analysis. Exhibits 99.1 and 99.2 also contain certain non-GAAP debt, capital and shareholders’ equity measures, along with financial ratios incorporating such measures that exclude amounts related to items such as the following: accumulated other comprehensive income (“AOCI”), fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and the impact of consolidating the assets and liabilities of certain CIEs.  Management believes that these non-GAAP debt, capital and shareholders’ equity measures, and the corresponding ratios, better represent our capital structure.  Management uses certain of these non-GAAP measures to evaluate our financial performance on a basis comparable to that used by some securities analysts and investors. Also, certain of these non-GAAP measures are taken into consideration, to varying degrees, for purposes of business planning and analysis and for certain compensation-related matters.
 
Our non-GAAP financial measures included in Exhibits 99.1 and 99.2, which our management views as important indicators of financial performance, include the following: adjusted operating earnings; adjusted operating earnings per diluted share; adjusted operating effective tax rate; adjusted operating expenses; adjusted operating general and administrative expense; adjusted operating return on equity excluding AOCI; adjusted operating total net revenues; basic adjusted operating earnings per share; net adjusted operating earnings; net adjusted operating revenues; net pretax adjusted operating margin; pretax adjusted operating earnings; pretax adjusted operating margin; return on equity excluding AOCI; total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs; total Ameriprise Financial long-term debt excluding fair value of hedges, unamortized discount, debt issuance costs and capital lease obligations; total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs; total equity excluding AOCI; total equity excluding CIEs; total equity excluding CIEs and AOCI; and various financial measures that exclude the impact of unlocking.

 
Item 9.01      Financial Statements and Exhibits.
 
(d)         Exhibits.
 
Exhibit No.
 
Description
 
 
 
 
Press Release dated May 6, 2020 announcing financial results for the first quarter of 2020
 
 
 
 
Statistical Supplement for the quarterly period ended March 31, 2020
 
 
 
Exhibit 101
 
Cover page is formatted in iXBRL (Inline eXtensible Business Reporting Language)
 
 
 
Exhibit 104
 
Cover page is formatted in iXBRL (Inline eXtensible Business Reporting Language) and contained in Exhibit 101.





SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
 
 
AMERIPRISE FINANCIAL, INC.
 
(Registrant)
 
 
 
 
 
 
Date: May 6, 2020
By
/s/ Walter S. Berman
 
 
Walter S. Berman
 
 
Executive Vice President and
 
 
Chief Financial Officer



(Back To Top)

Section 2: EX-99.1 (EXHIBIT 99.1)

nramp1q20final
Ameriprise Financial, Inc. Minneapolis, MN May 6, 2020 Ameriprise Financial Reports First Quarter 2020 Results Earnings Per Diluted Share Return on Equity, ex. AOCI First Quarter 2020: First Quarter 2020: GAAP $15.88 GAAP 59.5% Adjusted Operating $5.41 Adjusted Operating(1) 39.7% Ameriprise announced that it raised its quarterly dividend 7 percent to $1.04 per share • First quarter adjusted operating earnings per diluted share was $5.41, Perspective from Jim Cracchiolo, up 46 percent(1) reflecting strong business performance in a challenging Chairman and Chief Executive environment and a tax benefit(2) from a projected net operating loss (NOL). Officer • In the quarter, the sizable difference between the company’s GAAP and “The global pandemic has caused a adjusted operating results was driven by the severity of the market healthcare and economic crisis, as well as significant equity market declines, extreme dislocation in March, primarily related to widening in our credit spread and volatility and record low interest rates. the valuation of derivatives used to hedge the company’s variable annuity During this time, we have focused on our living benefit guarantees(3). Management believes adjusted operating clients as well as protecting the health and results best reflect underlying performance. safety of our employees and advisors. Ameriprise has remained strong. (1) • Adjusted operating net revenue grew 4 percent to $3.0 billion from strong “The strength of our first quarter results client activity, net inflows and higher average equity markets, partially offset reflects the commitment of our team, as by lower interest rates. well as the power of our diversified business, advice value proposition and • The company’s risk management approach resulted in balance sheet highly effective technology infrastructure. We had a good start to the year despite fundamentals remaining strong in a challenging operating environment. the challenging operating environment. Parent company liquidity was approximately $2 billion with significant Even with the vast majority of our additional liquidity available in the business segments. Excess capital was employees and advisors working from $1.7 billion after implementing VM-21, hedging strategies were 99 percent home, we remained focused and delivered strong growth in client flows and near effective and the investment portfolio remains high quality with a net record levels of gross sales unrealized gain of $0.6 billion and limited impairments. in Asset Management. • Advice & Wealth Management and Asset Management generated “With our excellent balance sheet and risk approximately 74 percent of the company’s revenue and 76 percent management, we have been able to absorb considerable market impacts. We of pretax adjusted operating earnings in the quarter. completed the quarter with a sizable excess capital position that provides • Total pretax adjusted operating margin was 22.1 percent, which was in line important flexibility, and we also have with last year. Advice & Wealth Management margin was 22.3 percent and ample liquidity. Both our financial strength Asset Management net adjusted margin was 37.9 percent, reflecting and ability to generate free cash flow across market cycles differentiate excellent business fundamentals and well-managed expenses. Ameriprise. We are able to continue executing our long-term strategy and • The company maintained its strong track record of capital return and return capital to shareholders. This free cash flow, returning $512 million to shareholders in the quarter, includes raising our regular quarterly dividend 7 percent, the 16th increase over with 2.5 million shares repurchased. the last 15 years. (1) Excluding the Auto & Home insurance business, which was sold in 2019. “While market conditions and the operating (2) See page 2 for additional detail. environment remain fluid, Ameriprise is in (3) See page 8 for reconciliation. a strong position.” 1


 
Ameriprise Financial, Inc. First Quarter Summary Per Diluted Share Quarter Ended Quarter Ended March 31, % Over/ March 31, % Over/ (in millions, except per share amounts, unaudited) 2020 2019 (Under) 2020 2019 (Under) GAAP net income $ 2,036 $ 395 NM $ 15.88 $ 2.82 NM Adjusted operating earnings $ 694 $ 525 32 % $ 5.41 $ 3.75 44 % (see reconciliation on p. 8) GAAP Return on Equity, ex. AOCI 59.5 % 32.5 % Adjusted Operating Return on Equity, ex. AOCI 39.7 % 36.4 % Percent of pretax adjusted operating earnings from Advice & Wealth Management, excluding Corporate & Other 54 % 50 % Percent of pretax adjusted operating earnings from Advice & Wealth Management and Asset Management, excluding Corporate & Other 76 % 71 % Weighted average common shares outstanding: Basic 126.4 138.8 Diluted 128.2 140.1 NM Not Meaningful – variance equal to or greater than 100% Taxes The first quarter adjusted operating effective tax rate was negative 6.4 percent, or $42 million. The primary driver of the tax rate in the quarter was the forecasted utilization of NOLs that will be applied to prior year tax filings during 2020. The first quarter benefit associated with these NOLs was $144 million, or 65 percent of the forecasted full year 2020 total NOL benefit. 2


 
Ameriprise Financial, Inc. Advice & Wealth Management Segment Adjusted Operating Results Quarter Ended March 31, % Over/ (in millions, unaudited) 2020 2019 (Under) Net revenues $ 1,695 $ 1,554 9 % Distribution expense 970 870 (11 )% G&A / other expense 347 334 (4 )% Pretax adjusted operating earnings $ 378 $ 350 8 % Pretax adjusted operating margin 22.3 % 22.5 % Quarter Ended March 31, % Over/ (in billions, unless otherwise noted) 2020 2019 (Under) Total client assets $ 560 $ 588 (5 )% Wrap net flows $ 6.1 $ 4.3 41 % Brokerage cash balance $ 32.7 $ 25.3 29 % Average spread rate on brokerage cash balances (bps) 133 212 (79 ) bps Adjusted operating net revenue per advisor (trailing 12 months - thousands) $ 680 $ 628 8 % Advice & Wealth Management demonstrated continued strength with an 8 percent increase in pretax adjusted operating earnings from strong client activity and higher average equity markets that more than offset the decline in short term interest rates. Pretax adjusted operating margin of 22.3 percent remained strong. The company’s business continuity capabilities ensured that advisors have the tools and information necessary to meet and exceed client needs in this volatile environment. Our excellent client service and strong technology foundation enable advisors to provide full-service transaction and advisory services to clients. Adjusted operating net revenues increased 9 percent to $1.7 billion. Strong organic growth and higher average equity markets more than offset lower cash sweep revenue related to short term interest rate cuts in March. Quarter-to-date through February 2020, revenue increased 14 percent, with the market depreciation in March reducing the growth rate for the quarter. Bank assets increased $2.4 billion in the quarter to $6.2 billion. The bank substantially increased its fixed term investment strategy as credit spreads widened during the quarter, which will increase interest earnings going forward. Strong business performance and higher activity levels drove an 11 percent increase in distribution expenses. General and administrative expenses, excluding bank-related expenses, increased 2 percent. This was in line with expectations as planned investments for future growth were partially offset by ongoing expense reengineering. Total client assets grew 6 percent to $616 billion through February from strong client flows, however, total client assets ended the quarter at $560 billion following the market depreciation in March. Organic growth remained very strong with growth in client inflows as wrap flows reached a high of $6.1 billion in the quarter. Client brokerage cash balances increased 29 percent to $32.7 billion, with a significant increase in March as clients reallocated portfolios. Adjusted operating net revenue per advisor on a trailing 12-month basis increased 8 percent to $680,000. Total advisors were 9,878, demonstrating solid advisor retention and experienced advisor recruiting with 80 advisors moving their practices to Ameriprise in the quarter. 3


 
Ameriprise Financial, Inc. Asset Management Segment Adjusted Operating Results Quarter Ended March 31, % Over/ (in millions, unaudited) 2020 2019 (Under) Net revenues $ 686 $ 689 – Distribution expense 231 223 (4 )% G&A / other expense 298 320 7 % Pretax adjusted operating earnings $ 157 $ 146 8 % Pretax adjusted operating margin 22.9 % 21.2 % Net Pretax adjusted operating margin (1) 37.9 % 33.6 % Quarter Ended March 31, % Over/ (in billions) 2020 2019 (Under) Total segment AUM $ 426 $ 459 (7 )% Net Flows Former parent company related new flows $ (0.8 ) $ (1.1 ) 27 % Global Retail net flows, excl. former parent flows (2.7 ) (3.4 ) 22 % Global Institutional net flows, excl. former parent flows 1.0 (2.7 ) NM Total segment net flows $ (2.5 ) $ (7.2 ) 66 % (1) See Reconciliation on page 13 NM Not Meaningful – variance equal to or greater than 100% Asset Management pretax adjusted operating earnings were $157 million, up $11 million, reflecting higher average equity markets. Excluding a performance fee adjustment, pretax adjusted operating earnings were $172 million, up 18 percent. First quarter net pretax adjusted operating margin remained strong at 37.9 percent. Adjusted operating revenues increased 2 percent versus last year, excluding the performance fee adjustment, as growth in average equity markets and higher fee net inflows more than offset the cumulative impact of net outflows. Through February, adjusted operating revenues grew 9 percent, however, the market dislocation in March resulted in revenues for the quarter that were flat to a year ago. Adjusted operating expenses decreased 3 percent as a 7 percent decline in general and administrative and other expenses was partially offset by higher distribution expenses. In the quarter, retail gross sales increased 50 percent, reflecting strong execution of business growth strategies, which reduced net outflows to $2.5 billion, a $4.7 billion improvement from a year ago. Net inflows in January and February were $2.1 billion(2), with elevated redemptions in March resulting in net outflows for the quarter. Global institutional inflows were $1.0 billion. Excluding former parent flows, total net outflows were $1.7 billion, including a $1.3 billion very low fee institutional redemption that was anticipated. (2) Excluding former parent flows 4


 
Ameriprise Financial, Inc. Annuities and Protection Segments Adjusted Operating Results Quarter Ended March 31, % Over/ (in millions, unaudited) 2020 2019 (Under) Annuities Net revenues $ 589 $ 604 (2 %) Expenses 494 476 (4 %) Pretax adjusted operating earnings $ 95 $ 128 (26 %) Variable annuity pretax adjusted operating earnings $ 93 $ 115 (19 %) Fixed annuity pretax adjusted operating earnings 2 13 (85 %) Total pretax adjusted operating earnings $ 95 $ 128 (26 %) Protection Net revenues $ 257 $ 262 (2 %) Expenses 185 188 2 % Pretax adjusted operating earnings $ 72 $ 74 (3 %) Quarter Ended March 31, % Over/ 2020 2019 (Under) Variable annuity ending account balances (billions) $ 70.0 $ 76.9 (9 %) Fixed deferred annuity ending account balances (billions) $ 8.2 $ 8.6 (5 %) Life insurance in force (billions) $ 194.6 $ 194.9 – Annuities pretax adjusted operating earnings were $95 million, down $33 million from the prior year. Variable annuity pretax adjusted operating earnings decreased to $93 million. Operating net revenues increased 2 percent driven by market appreciation, which more than offset net outflows. Expenses increased 9 percent reflecting higher expected reserve accruals for living benefits that were compounded by market dislocation, as well as lower DAC amortization in the year ago quarter. Variable annuity sales improved 24 percent year-over- year to $1.1 billion and benefited from the launch of a structured product that accounted for approximately 10 percent of sales in the quarter. Fixed annuity pretax adjusted operating earnings were $2 million, down from $13 million a year ago and $7 million last quarter, primarily reflecting continued low interest rates. Account balances declined 5 percent from limited new product sales and continued lapses. Protection pretax adjusted operating earnings were $72 million compared to $74 million a year ago. Overall claims were slightly favorable but within expected ranges. VUL/UL cash sales were flat at $56 million as higher VUL sales offset lower indexed universal life sales. 5


 
Ameriprise Financial, Inc. Corporate & Other Segment Adjusted Operating Results Quarter Ended March 31, % Over/ (in millions, unaudited) 2020 2019 (Under) Pretax adjusted operating earnings/(loss): Corporate & Other (excl. LTC and Auto & Home) $ (52 ) $ (78 ) 33 % Long Term Care $ 2 $ 6 (67 )% Corporate & Other pretax adjusted operating loss(1) was $52 million, down $26 million from the prior year, primarily due to the impact of share price depreciation on compensation expense and lower investment expenses. Long Term Care pretax adjusted operating earnings were $2 million. (1) Excluding Long Term Care and Auto & Home Contacts Investor Relations: Media Relations: Alicia A. Charity Paul W. Johnson Ameriprise Financial Ameriprise Financial (612) 671-2080 (612) 671-0625 [email protected] [email protected] Stephanie M. Rabe Ameriprise Financial (612) 671-4085 [email protected] About Ameriprise Financial At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 125 years. With extensive advisory, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs. For more information, or to find an Ameriprise financial advisor, visit ameriprise.com. Ameriprise Financial Services, LLC offers financial planning services, investments, insurance and annuity products. Columbia Funds are distributed by Columbia Management Investment Distributors, Inc., member FINRA and managed by Columbia Management Investment Advisers, LLC. Threadneedle International Limited is an SEC- and FCA-registered investment adviser affiliate of Columbia Management Investment Advisers, LLC based in the U.K. RiverSource insurance and annuity products are issued by RiverSource Life Insurance Company, and in New York only by RiverSource Life Insurance Co. of New York, Albany, New York. Only RiverSource Life Insurance Co. of New York is authorized to sell insurance and annuity products in the state of New York. These companies are all part of Ameriprise Financial, Inc. CA License #0684538. RiverSource Distributors, Inc. (Distributor), Member FINRA. 6


 
Forward-Looking Statements This news release contains forward-looking statements that reflect management’s plans, estimates and beliefs. Actual results could differ materially from those described in these forward-looking statements. Examples of such forward-looking statements include: ▪ statements of the company’s plans, intentions, positioning, expectations, objectives or goals, including those relating to asset flows, mass affluent and affluent client acquisition strategy, client retention and growth of our client base, financial advisor productivity, retention, recruiting and enrollments, the introduction, cessation, terms or pricing of new or existing products and services, acquisition integration, general and administrative costs, consolidated tax rate, return of capital to shareholders, and excess capital position and financial flexibility to capture additional growth opportunities; ▪ statements of the company’s position, future performance and ability to pursue business strategy and return of capital to shareholders relative to the spread and impact of the COVID-19 pandemic and the related market, economic, client, governmental and healthcare system response environments; ▪ statements about the forecasted full year 2020 total NOL benefit; ▪ other statements about future economic performance, the performance of equity markets and interest rate variations and the economic performance of the United States and of global markets; and ▪ statements of assumptions underlying such statements. The words “believe,” “expect,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” “forecast,” “on track,” “project,” ”continue,” “able to remain”, “resume,” “deliver,” “develop,” “evolve,” “drive,” ”enable,” “flexibility,” “scenario, “case” and similar expressions are intended to identify forward- looking statements but are not the exclusive means of identifying such statements. Forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Management cautions readers to carefully consider the risks described in the “Risk Factors” discussion under Part 1, Item 1A of and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2019, and subsequent Quarterly Reports on Form 10-Q, available at ir.ameriprise.com. Management undertakes no obligation to update publicly or revise any forward-looking statements. The financial results discussed in this news release represent past performance only, which may not be used to predict or project future results. The financial results and values presented in this news release and the below- referenced Statistical Supplement are based upon asset valuations that represent estimates as of the date of this news release and may be revised in the company’s Form 10-Q for the quarter ended March 31, 2020. For information about Ameriprise Financial entities, please refer to the First Quarter 2020 Statistical Supplement available at ir.ameriprise.com and the tables that follow in this news release. Ameriprise Financial announces financial and other information to investors through the company’s investor relations website at ir.ameriprise.com, as well as SEC filings, press releases, public conference calls and webcasts. Investors and others interested in the company are encouraged to visit the investor relations website from time to time, as information is updated and new information is posted. The website also allows users to sign up for automatic notifications in the event new materials are posted. The information found on the website is not incorporated by reference into this release or in any other report or document the company furnishes or files with the SEC. 7


 
Ameriprise Financial, Inc. Reconciliation Table: Earnings Per Diluted Share Quarter Ended Quarter Ended March 31, March 31, (in millions, except per share amounts, unaudited) 2020 2019 2020 2019 Net income $ 2,036 $ 395 $ 15.88 $ 2.82 Less: Net Income (loss) attributable to consolidated investment entities (2) – (0.02) – Add: Integration/restructuring charges (1) 1 7 0.01 0.05 Add: Market impact on variable annuity guaranteed benefits (1) (1,689) 142 (13.18) 1.02 Add: Market impact on fixed index annuity benefits(1) (3) – (0.02) – Add: Mean reversion-related impacts (1) 61 (36) 0.47 (0.26) Add: Market impact on indexed universal life benefits (1) (91) 51 (0.71) 0.36 Add: Market impact on hedges on investments (1) – 10 – 0.07 Add: Net realized investment (gains) Losses (1) 20 (9) 0.16 (0.06) Less: Gain on disposal of business (1) – – – – Add: Tax effect of adjustment (2) 357 (35) 2.78 (0.25) Adjusted operating earnings $ 694 $ 525 $ 5.41 $ 3.75 Less: Pretax impact of Auto & Home core results – 9 – 0.06 Less: Tax effect of Auto & Home core results – (2) – (0.01) Adjusted operating earnings excluding Auto & Home $ 694 $ 518 $ 5.41 $ 3.70 Weighted average common shares outstanding: Basic 126.4 138.8 Diluted 128.2 140.1 (1) Pretax adjusted operating adjustment. (2) Calculated using the statutory tax rate of 21% 8


 
Ameriprise Financial, Inc. Reconciliation Table: Pretax Adjusted Operating Earnings and Pretax Adjusted Operating Margin Quarter Ended March 31, (in millions, except per share amounts, unaudited) 2020 2019 Total net revenues $ 3,001 $ 3,118 Less: CIEs revenue 16 21 Less: Integration/restructuring charges – (3) Less: Net realized investment gains (losses) (20) 9 Less: Market impact on indexed universal life benefits 55 (17) Less: Mean reversion related impacts (1) – Less: Market impact of hedges on investments – (10) Less: Gain on disposal of business – – Adjusted operating total net revenues $ 2,951 $ 3,118 Less: Auto & Home revenue – 288 Adjusted operating total net revenues excluding Auto & Home $ 2,951 $ 2,830 Total expenses $ 650 $ 2,648 Less: CIEs expenses 18 21 Less: Integration/restructuring charges 1 4 Less: Market impact on variable annuity guaranteed benefits (1,689) 142 Less: Market impact on indexed universal life benefits (36) 34 Less: Market impact on fixed index annuity benefits (3) – Less: Mean reversion-related impacts 60 (36) Adjusted operating expenses $ 2,299 $ 2,483 Less: Auto & Home expenses – 279 Adjusted operating total net revenues excluding Auto & Home $ 2,299 $ 2,204 Pretax income $ 2,351 $ 470 Pretax adjusted operating earnings 652 635 Less: Auto & Home – 9 Pretax adjusted operating earnings excluding Auto & Home $ 652 $ 626 Pretax income margin 78.3% 15.1% Pretax adjusted operating margin 22.1% 20.4% 9


 
Ameriprise Financial, Inc. Reconciliation Table: Advice & Wealth Management and Asset Management Percent of Pretax Adjusted Operating Earnings (1) Quarter Ended March 31, (in millions, unaudited) 2020 2019 Advice & Wealth Management pretax adjusted operating earnings $ 378 $ 350 Advice & Wealth Management and Asset Management pretax adjusted operating earnings $ 535 $ 496 Annuities and Protection pretax adjusted operating earnings $ 167 $ 202 Percent pretax adjusted operating earnings from Advice & Wealth Management 54% 50% Percent pretax adjusted operating earnings from Advice & Wealth Management and Asset Management 76% 71% Percent pretax adjusted operating earnings from Annuities and Protection 24% 29% (1) Excludes Corporate & Other Segment Ameriprise Financial, Inc. Reconciliation Table: Advice & Wealth Management and Asset Management Percent of Adjusted Operating Net Revenues (1) Quarter Ended March 31, (in millions, unaudited) 2020 2019 Advice & Wealth Management pretax adjusted operating revenues $ 1,695 $ 1,554 Advice & Wealth Management and Asset Management pretax adjusted operating revenues $ 2,381 $ 2,243 Annuities and Protection pretax adjusted operating revenues $ 846 $ 866 Percent pretax adjusted operating revenues from Advice & Wealth Management 53% 50% Percent pretax adjusted operating revenues from Advice & Wealth Management and Asset Management 74% 72% Percent pretax adjusted operating revenues from Annuities and Protection 26% 28% (1) Excludes Corporate & Other Segment 10


 
Ameriprise Financial, Inc. Reconciliation Table: General and Administrative Expense Quarter Ended March 31, (in millions, unaudited) 2020 2019 General and administrative expense $ 753 $ 805 Less: CIE expenses 1 1 Less: Integration/restructuring charges 1 4 Adjusted operating general and administrative expense $ 751 $ 800 Ameriprise Financial, Inc. Reconciliation Table: Effective Tax Rate Quarter Ended March 31, 2020 Adjusted (in millions, unaudited) GAAP Operating Pretax income $ 2,351 $ 652 Income tax provision $ 315 $ (42 ) Effective tax rate 13.4 % (6.4 %) Ameriprise Financial, Inc. Reconciliation Table: Effective Tax Rate Quarter Ended March 31, 2019 Adjusted (in millions, unaudited) GAAP Operating Pretax income $ 470 $ 635 Income tax provision $ 75 $ 110 Effective tax rate 15.9 % 17.3 % 11


 
Ameriprise Financial, Inc. Reconciliation Table: Advice & Wealth Management Revenues Quarter Ended March 31, % Over/ 2020 2019 (Under) AWM general and administrative expenses $ 345 $ 331 (4 %) Less: Bank general and administrative expenses 11 4 NM Adjusted AWM general and administrative expenses $ 334 $ 327 (2 %) NM Not Meaningful – variance equal to or greater than 100% Ameriprise Financial, Inc. Reconciliation Table: Asset Management Revenues Quarter Ended March 31, % Over/ 2020 2019 (Under) Net revenues $ 686 $ 689 – Less: Performance fee adjustment (19 ) – NM Adjusted net revenues $ 705 $ 689 2 % NM Not Meaningful – variance equal to or greater than 100% Ameriprise Financial, Inc. Reconciliation Table: Asset Management Pretax Operating Earnings Quarter Ended March 31, % Over/ 2020 2019 (Under) Pretax adjusted operating earnings $ 157 $ 146 8 % Less: Performance fee adjustment (15 ) – NM Pretax adjusted operating earnings $ 172 $ 146 18 % NM Not Meaningful – variance equal to or greater than 100% 12


 
Ameriprise Financial, Inc. Reconciliation Table: Asset Management Net Pretax Adjusted Operating Margin Quarter Ended March 31, (in millions, unaudited) 2020 2019 Adjusted operating total net revenues $ 686 $ 689 Less: Distribution pass through revenues 186 179 Less: Subadvisory and other pass through revenues 78 81 Net adjusted operating revenues $ 422 $ 429 Pretax adjusted operating earnings $ 157 $ 146 Less: Adjusted operating net investment income – 6 Add: Amortization of intangibles 3 4 Net adjusted operating earnings $ 160 $ 144 Pretax adjusted operating margin 22.9% 21.2% Net adjusted operating revenues 37.9% 33.6% 13


 
Ameriprise Financial, Inc. Reconciliation Table: Return on Equity (ROE) Excluding Accumulated Other Comprehensive Income “AOCI” Twelve Months Ended March 31, (in millions, unaudited) 2020 2019 Net income $ 3,534 $ 1,899 Less: Adjustments(1) 1,175 (229) Adjusted operating earnings 2,359 2,128 Less: Auto & Home, net of tax(2) 3 (5) Adjusted operating earnings excluding Auto & Home $ 2,356 $ 2,133 Total Ameriprise Financial, Inc. shareholders' equity $ 6,058 $ 5,704 Less: Accumulated other comprehensive income, net of tax 121 (137) Total Ameriprise Financial, Inc. shareholders' equity excluding AOCI 5,937 5,841 Less: Equity impacts attributable to the consolidated investment entities 1 1 Adjusted operating equity $ 5,936 $ 5,840 Return on equity excluding AOCI 59.5% 32.5% Adjusted operating return on equity excluding AOCI(3) 39.7% 36.4% Adjusted operating return on equity excluding AOCI and Auto & Home 39.7% 36.5% (1) Adjustments reflect the trailing twelve months’ sum of after-tax net realized investment gains/losses, net of deferred sales inducement costs (“DSIC”) and deferred acquisition costs (“DAC”) amortization, unearned revenue amortization and the reinsurance accrual; market impact on variable annuity guaranteed benefits, net of hedges and related DSIC and DAC amortization; the market impact on indexed universal life benefits, net of hedges and related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the market impact on fixed index annuity benefits, net of hedges and the related DAC amortization; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; mean reversion related impacts; gain or loss on disposal of business that is not considered discontinued operations; integration/restructuring charges; and the impact of consolidating certain investment entities. After-tax is calculated using the statutory tax rate of 21%. (2) After-tax is calculated using the statutory tax rate of 21%. (3) Adjusted operating return on equity excluding accumulated other comprehensive income (AOCI) is calculated using the trailing twelve months of earnings excluding the after-tax net realized investment gains/losses, net of deferred sales inducement costs (“DSIC”) and deferred acquisition costs (“DAC”) amortization, unearned revenue amortization and the reinsurance accrual; market impact on variable annuity guaranteed benefits, net of hedges and related DSIC and DAC amortization; the market impact on indexed universal life benefits, net of hedges and related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the market impact on fixed index annuity benefits, net of hedges and the related DAC amortization; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; mean reversion related impacts; gain or loss on disposal of business that is not considered discontinued operations; integration/restructuring charges; the impact of consolidating certain investment entities; and discontinued operations in the numerator, and Ameriprise Financial shareholders’ equity excluding AOCI and the impact of consolidating investment entities using a five-point average of quarter-end equity in the denominator. After-tax is calculated using the statutory tax rate of 21%. 14


 
Ameriprise Financial, Inc. Consolidated GAAP Results Quarter Ended March 31, % Over/ 2020 2019 (Under) Revenues Management and financial advice fees $ 1,770 $ 1,627 9 % Distribution fees 464 480 (3 )% Net investment income 328 397 (17) % Premiums 91 371 (75) % Other revenues 373 278 34% Gain on Disposal of Business – – – Total revenues 3,026 3,153 (4) % Banking and deposit interest expense 25 35 (29) % Total net revenues 3,001 3,118 (4) % Expenses Distribution expenses 995 900 (11) % Interest credited to fixed accounts 91 204 55% Benefits, claims, losses and settlement expenses (1,747) 670 NM Amortization of deferred acquisition costs 512 16 NM Interest and debt expense 46 53 13% General and administrative expense 753 805 6% Total expenses 650 2,648 75% Pretax income 2,351 470 NM Income tax provision 315 75 NM Net income $ 2,036 $ 395 NM NM Not Meaningful – variance equal to or greater than 100% 15


 
(Back To Top)

Section 3: EX-99.2 (EXHIBIT 99.2)

ampssq12020
Statistical Supplement Package (unaudited) First Quarter 2020 1 of 51


 
Ameriprise Financial, Inc. Statistical Supplement Information Table of Contents Page Ameriprise Financial, Inc. Statistical Supplement Presentation............................................................................................................ 4 Consolidated GAAP Income Statements..................................................................................................... 5 Consolidated Adjusted Operating Results and Highlights............................................................................ 6 Common Share and Capital Summary........................................................................................................ 8 Segment Summary...................................................................................................................................... 10 Advice & Wealth Management Segment Segment Adjusted Operating Income Statements....................................................................................... 12 Segment Metrics.......................................................................................................................................... 13 Asset Management Segment Segment Adjusted Operating Income Statements....................................................................................... 15 Segment Metrics.......................................................................................................................................... 16 Global Asset Management Products............................................................................................................ 17 Retail Fund Performance - Columbia........................................................................................................... 18 Retail Fund Performance - Threadneedle.................................................................................................... 19 Annuities Segment Segment Adjusted Operating Income Statements....................................................................................... 21 Segment Metrics.......................................................................................................................................... 22 Protection Segment Segment Adjusted Operating Income Statements....................................................................................... 24 Segment Metrics.......................................................................................................................................... 25 Corporate & Other Segment Segment Adjusted Operating Income Statements....................................................................................... 27 Eliminations Adjusted Operating Income Statements ..................................................................................................... 28 Balance Sheet and Ratings Information Consolidated Balance Sheets...................................................................................................................... 30 Capital and Ratings Information................................................................................................................... 31 Investments................................................................................................................................................. 32 Non-GAAP Financial Information…................................................................................................................. 33 Glossary of Selected Terminology Glossary of Selected Terminology - Segments............................................................................................ 34 Glossary of Selected Terminology............................................................................................................... 35 Exhibit A Disclosed Items........................................................................................................................................... 38 Exhibit B Corporate & Other Segment Details............................................................................................................ 44 Exhibit C Non-GAAP Financial Measure Reconciliations............................................................................................ 47 Exhibit D Revenue Detail by Product.......................................................................................................................... 50 2 of 51


 
Statistical Supplement Package (unaudited) First Quarter 2020 Consolidated Results 3 of 51


 
Ameriprise Financial, Inc. Statistical Supplement Presentation First Quarter 2020 Ameriprise Financial, Inc. ("Ameriprise Financial" or "the Company") prepares its financial statements in accordance with generally accepted accounting principles ("GAAP"). Management believes that adjusted operating measures, which exclude the impact of consolidating certain investment entities ("CIEs"); integration and restructuring charges; the market impact on variable annuity guaranteed benefits, net of hedges and the related deferred sales inducement costs ("DSIC") and deferred acquisition costs ("DAC") amortization; the market impact on fixed index annuity benefits, net of hedges and the related DAC amortization; the market impact on indexed universal life benefits, net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the mean reversion related impacts; gain or loss on disposal of business that is not considered discontinued operations; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; net realized investment gains or losses, net of DSIC and DAC amortization, unearned revenue amortization and the reinsurance accrual and income (loss) from discontinued operations, best reflect the underlying performance of our core operations and facilitate a more meaningful trend analysis. The Company also uses several non-GAAP financial measures to evaluate its financial performance on a basis comparable to that used by some securities analysts and investors. However, these measures are not a substitute for GAAP. Therefore, reconciliations to GAAP measures are provided on page 6 and in Exhibit C "Non-GAAP Financial Measure Reconciliations" on pages 47 and 48. The market impact on variable annuity guaranteed benefits, fixed index annuity benefits and indexed universal life benefits includes changes in liability values caused by changes in financial market conditions, net of changes in economic hedge values. The market impact also includes certain valuation adjustments made in accordance with Financial Accounting Standards Board Accounting Standards Codification 820, Fair Value Measurements and Disclosures ("ASC 820"), including the impact on liability values of discounting projected benefits to reflect a current estimate of RiverSource Life Insurance Company's nonperformance spread. Further, the market impact is net of related impacts on DAC, DSIC and unearned revenue amortization as well as a reinsurance accrual for indexed universal life. The market impact relates to guaranteed minimum accumulation benefits, non-life contingent guaranteed minimum withdrawal benefits, fixed index annuity benefits and indexed universal life benefits accounted for at fair value as embedded derivatives. Adjusted operating earnings is the measure of segment profit or loss management uses to evaluate segment performance. Adjusted operating earnings should not be viewed as a substitute for GAAP income from continuing operations before income tax provision. Management believes the presentation of segment adjusted operating earnings as we measure it for management purposes enhances the understanding of our business by reflecting the underlying performance of our core operations and facilitating a more meaningful trend analysis. In addition, management uses net pretax adjusted operating margin in the Asset Management segment to evaluate segment performance on a basis comparable to other asset managers. In the Asset Management segment, adjusted operating revenues are adjusted to exclude distribution pass through revenues and subadvisory and other pass through revenues, and adjusted operating earnings are adjusted to exclude adjusted operating net investment income and amortization of intangibles. 4 of 51


 
Ameriprise Financial, Inc. Consolidated GAAP Income Statements First Quarter 2020 Prior Year Comparisons (in millions, except per share amounts, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Revenues Management and financial advice fees $ 1,627 $ 1,732 $ 1,794 $ 1,862 $ 1,770 $ 1,627 $ 1,770 $ 143 9 % $ 143 9 % $ (92) (5)% Distribution fees 480 490 480 469 464 480 464 (16) (3)% (16) (3)% (5) (1)% Net investment income 397 368 356 342 328 397 328 (69) (17)% (69) (17)% (14) (4)% Premiums 371 376 374 93 91 371 91 (280) (75)% (280) (75)% (2) (2)% Other revenues 278 316 347 338 373 278 373 95 34 % 95 34 % 35 10 % Gain on disposal of business - - - 213 - - - - - - - (213) # Total revenues 3,153 3,282 3,351 3,317 3,026 3,153 3,026 (127) (4)% (127) (4)% (291) (9)% Banking and deposit interest expense 35 37 34 30 25 35 25 (10) (29)% (10) (29)% (5) (17)% Total net revenues 3,118 3,245 3,317 3,287 3,001 3,118 3,001 (117) (4)% (117) (4)% (286) (9)% Expenses Distribution expenses 900 948 971 991 995 900 995 95 11 % 95 11 % 4 - Interest credited to fixed accounts 204 186 127 152 91 204 91 (113) (55)% (113) (55)% (61) (40)% Benefits, claims, losses and settlement expenses 670 584 594 728 (1,747) 670 (1,747) (2,417) # (2,417) # (2,475) # Amortization of deferred acquisition costs 16 58 112 (7) 512 16 512 496 # 496 # 519 # Interest and debt expense 53 59 52 50 46 53 46 (7) (13)% (7) (13)% (4) (8)% General and administrative expense 805 823 820 839 753 805 753 (52) (6)% (52) (6)% (86) (10)% Total expenses 2,648 2,658 2,676 2,753 650 2,648 650 (1,998) (75)% (1,998) (75)% (2,103) (76)% Pretax income 470 587 641 534 2,351 470 2,351 1,881 # 1,881 # 1,817 # Income tax provision 75 95 98 71 315 75 315 240 # 240 # 244 # Net income $ 395 $ 492 $ 543 $ 463 $ 2,036 $ 395 $ 2,036 $ 1,641 # $ 1,641 # $ 1,573 # Net Investment Income Investment income on fixed maturities $ 353 $ 344 $ 349 $ 332 $ 322 $ 353 $ 322 $ (31) (9)% $ (31) (9)% $ (10) (3)% Realized investment gains (losses) (1) 4 - (10) (2) (19) 4 (19) (23) # (23) # (17) # Affordable housing (15) (17) (26) (40) (14) (15) (14) 1 7 % 1 7 % 26 65 % Other (including seed money) 32 16 19 30 22 32 22 (10) (31)% (10) (31)% (8) (27)% Consolidated investment entities 23 25 24 22 17 23 17 (6) (26)% (6) (26)% (5) (23)% Total net investment income $ 397 $ 368 $ 356 $ 342 $ 328 $ 397 $ 328 $ (69) (17)% $ (69) (17)% $ (14) (4)% Earnings Per Share Basic earnings per share $ 2.85 $ 3. 61 $ 4.09 $ 3.59 $ 16.11 $ 2.85 $ 16.11 $ 13.26 # $ 13.26 # $ 12.52 # Earnings per diluted share $ 2.82 $ 3.57 $ 4.04 $ 3.53 $ 15.88 $ 2.82 $ 15.88 $ 13.06 # $ 13.06 # $ 12.35 # Earnings per diluted share growth (27.9)% 15.2 % 17.8 % (6.1)% NM (27.9)% NM NM NM NM Weighted average common shares outstanding Basic weighted average common shares outstanding 138.8 136.1 132.7 129.0 126.4 138.8 126.4 (12.4) (9)% (12.4) (9)% (2.6) (2)% Effect of potentially dilutive nonqualified stock options and other share-based awards 1.3 1.9 1.8 2.3 1.8 1.3 1.8 0.5 38 % 0.5 38 % (0.5) (22)% Diluted weighted average common shares outstanding 140.1 138.0 134.5 131.3 128.2 140.1 128.2 (11.9) (8)% (11.9) (8)% (3.1) (2)% Metrics Net revenue growth (1.6)% 1 .5 % 0.8 % 3.4 % (3.8)% (1.6)% (3.8)% (2.2)% (2.2)% (7.2)% Pretax income margin 15.1 % 18.1 % 19.3 % 16.2 % 78.3 % 15.1 % 78.3 % 63.2 % 63.2 % 62.1 % Effective tax rate 15.9 % 16.1 % 15.4 % 13.2 % 13.4 % 15.9 % 13.4 % (2.5)% (2.5)% 0.2 % Total equity / outstanding shares (2) $ 42.56 $ 44.83 $ 45.92 $ 45.04 $ 53.37 $ 42.56 $ 53.37 $ 10.81 25 % $ 10.81 25 % $ 8.33 18 % Total equity excluding AOCI / outstanding shares (3)(4) $ 42.30 $ 42.83 $ 43.34 $ 42.98 $ 55.73 $ 42.30 $ 55.73 $ 13.43 32 % $ 13.43 32 % $ 12.75 30 % (1) Q1 2019 includes a $5M impairment classified as restructuring costs related to the sale of Auto & Home. (2) Calculated as total equity divided by common shares outstanding plus common stock equivalents outstanding at period end. (3) Calculated as total equity excluding AOCI divided by common shares outstanding plus common stock equivalents outstanding at period end. (4) See non-GAAP financial information on pg 33. Non-GAAP financial measure reconciliations can be found on pgs 47 and 48. NM Not Meaningful # Variance equal to or greater than 100%. 5 of 51


 
Ameriprise Financial, Inc. Consolidated Adjusted Operating Results and Highlights First Quarter 2020 Prior Year Comparisons (in millions except per share amounts, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Revenues Total net revenues $ 3,118 $ 3,245 $ 3,317 $ 3,287 $ 3,001 $ 3,118 $ 3,001 $ (117) (4)% $ (117) (4)% $ (286) (9)% Less revenues attributable to the CIEs 21 24 22 21 16 21 16 (5) (24)% (5) (24)% (5) (24)% Less net realized investment gains (losses) (1) 9 - (13) (2) (20) 9 (20) (29) # (29) # (18) # Less market impact on indexed universal life benefits (1) (17) (8) 17 8 55 (17) 55 72 # 72 # 47 # Mean reversion related impacts (1) - - - - (1) - (1) (1) - (1) - (1) - Less market impact of hedges on investments (10) (18) (9) 2 - (10) - 10 # 10 # (2) # Less gain on disposal of business (4) - - - 213 - - - - - - - (213) # Less integration/restructuring charges (2) (3) - - - - (3) - 3 # 3 # - - Adjusted operating total net revenues (4) $ 3,118 $ 3,247 $ 3,300 $ 3,045 $ 2,951 $ 3,118 $ 2,951 $ (167) (5)% $ (167) (5)% $ (94) (3)% Earnings Net income $ 395 $ 4 92 $ 543 $ 463 $ 2,036 $ 395 $ 2,036 $ 1,641 # $ 1,641 # $ 1,573 # Less net income (loss) attributable to the CIEs - 1 (1) 1 (2) - (2) (2) - (2) - (3) # Integration/restructuring charges (2)(4) 7 2 2 6 1 7 1 (6) (86)% (6) (86)% (5) (83)% Market impact on variable annuity guaranteed benefits (1)(4) 142 60 2 375 (1,689) 142 (1,689) (1,831) # (1,831) # (2,064) # Market impact on fixed index annuity benefits (1)(4) - (1) 1 - (3) - (3) (3) - (3) - (3) - Market impact on indexed universal life benefits (1)(4) 51 26 (48) (17) (91) 51 (91) (142) # (142) # (74) # Mean reversion related impacts (1)(4) (36) (18) 36 (39) 61 (36) 61 97 # 97 # 100 # Market impact of hedges on investments (4) 10 18 9 (2) - 10 - (10) # (10) # 2 # Less gain on disposal of business (4) - - - 213 - - - - - - - (213) # Less net realized investment gains (losses) (1)(4) 9 - (11) (2) (20) 9 (20) (29) # (29) # (18) # Tax effect of adjustments (5) (35) (18) (3) (23) 357 (35) 357 392 # 392 # 380 # Adjusted operating earnings (3) $ 525 $ 5 60 $ 554 $ 551 $ 694 $ 525 $ 694 $ 169 32 % $ 169 32 % $ 143 26 % Pretax Earnings Pretax income $ 470 $ 587 $ 641 $ 534 $ 2,351 $ 470 $ 2,351 $ 1,881 # $ 1,881 # $ 1,817 # Less pretax income (loss) attributable to the CIEs - 1 (1) 1 (2) - (2) (2) - (2) - (3) # Integration/restructuring charges (2) 7 2 2 6 1 7 1 (6) (86)% (6) (86)% (5) (83)% Market impact on variable annuity guaranteed benefits (1) 142 60 2 375 (1,689) 142 (1,689) (1,831) # (1,831) # (2,064) # Market impact on fixed index annuity benefits (1) - (1) 1 - (3) - (3) (3) - (3) - (3) - Market impact on indexed universal life benefits (1) 51 26 (48) (17) (91) 51 (91) (142) # (142) # (74) # Mean reversion related impacts (1) (36) (18) 36 (39) 61 (36) 61 97 # 97 # 100 # Market impact of hedges on investments 10 18 9 (2) - 10 - (10) # (10) # 2 # Less gain on disposal of business (4) - - - 213 - - - - - - - (213) # Less net realized investment gains (losses) (1) 9 - (11) (2) (20) 9 (20) (29) # (29) # (18) # Pretax adjusted operating earnings (3) $ 635 $ 673 $ 655 $ 645 $ 652 $ 635 $ 652 $ 17 3 % $ 17 3 % $ 7 1 % Pretax Adjusted Operating Margin (3)(6) 20.4% 20.7% 19.8% 21.2% 22.1% 20.4% 22.1% 1.7 % 1.7 % 0.9 % Adjusted Operating Effective Tax Rate (3)(7) 17.3% 16.8% 15.4% 14.6% (6.4)% 17.3% (6.4)% (23.7)% (23.7)% (21.0)% Weighted Average Common Shares Outstanding Basic 138.8 136.1 132.7 129.0 126.4 138.8 126.4 (12.4) (9)% (12.4) (9)% (2.6) (2)% Diluted 140.1 138.0 134.5 131.3 128.2 140.1 128.2 (11.9) (8)% (11.9) (8)% (3.1) (2)% Adjusted Operating Earnings Per Share (3) Basic adjusted operating earnings per share $ 3.78 $ 4.11 $ 4.17 $ 4.27 $ 5.49 $ 3.78 $ 5.49 $ 1.71 45 % $ 1.71 45 % $ 1.22 29 % Adjusted operating earnings per diluted share $ 3.75 $ 4.06 $ 4.12 $ 4.20 $ 5.41 $ 3.75 $ 5.41 $ 1.66 44 % $ 1.66 44 % $ 1.21 29 % Return on Equity Return on equity excluding AOCI (3)(7) 32.5 % 33.1 % 34.0 % 33.1 % 59.5 % 32.5 % 59.5 % 27.0 % 27.0 % 26.4 % Adjusted operating return on equity excluding AOCI (3)(7) 36.4 % 37.1 % 37.7 % 38.3 % 39.7 % 36.4 % 39.7 % 3.3 % 3.3 % 1.4 % (1) Adjusted operating adjustments for net realized investment gains (losses), mean reversion related impacts, market impact on indexed universal life benefits, market impact on fixed index annuity benefits, and market impact on variable annuity guaranteed benefits are net of the following impacts, as applicable: hedges, DAC and DSIC amortization, unearned revenue amortization and the reinsurance accrual. (2) Q1 2019 includes a $5M impairment classified as restructuring costs related to the sale of Auto & Home. (3) See non-GAAP financial information on pg 33. (4) Pretax adjusted operating adjustments. (5) Calculated using the statutory tax rate of 21%. (6) Defined as pretax adjusted operating earnings as a percentage of adjusted operating total net revenues. (7) Non-GAAP financial measure reconciliations can be found on pg 47 and 48. # Variance equal to or greater than 100%. 6 of 51


 
Ameriprise Financial, Inc. Consolidated Adjusted Operating Results and Highlights First Quarter 2020 Prior Year Comparisons (in millions except per share amounts, headcount and where noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Book Value Total equity excluding CIEs / outstanding shares (1)(2) $ 42.55 $ 44.83 $ 45.92 $ 45.03 $ 53.36 $ 42.55 $ 53.36 $ 10.81 25 % $ 10.81 25 % $ 8.33 18 % Total equity excluding CIEs and AOCI / outstanding shares (1)(3) $ 42.29 $ 42.83 $ 43.33 $ 42.97 $ 55.73 $ 42.29 $ 55.73 $ 13.44 32 % $ 13.44 32 % $ 12.76 30 % Adjusted Operating Metrics Adjusted operating earnings per diluted share growth: Target 12 - 15% 2.2 % 14.0 % 14.1 % 10.5 % 44.3 % 2.2 % 44.3 % 42.1 % 42.1 % 33.8 % Adjusted operating return on equity excluding AOCI: Target 30%+ (1) 36.4 % 37.1 % 37.7 % 38.3 % 39.7 % 36.4 % 39.7 % 3.3 % 3.3 % 1.4 % Debt to Capital Total Ameriprise Financial long-term debt to total Ameriprise Financial capital (4) 36.7 % 34.0 % 34.1 % 35.1 % 25.9 % 36.7 % 25.9 % (10.8)% (10.8)% (9.2)% Goodwill and Intangible Assets $ 1,990 $ 1,976 $ 1,963 $ 1,990 $ 1,967 $ 1,990 $ 1,967 $ (23) (1)% $ (23) (1)% $ (23) (1)% Assets Under Management and Administration Advice & Wealth Management AUM $ 276,921 $ 289,933 $ 295,907 $ 315,201 $ 273,072 $ 276,921 $ 273,072 $ (3,849) (1)% $ (3,849) (1)% $ (42,129) (13)% Asset Management AUM 459,112 468,274 468,564 494,181 426,163 459,112 426,163 (32,949) (7)% (32,949) (7)% (68,018) (14)% Corporate AUM 49 46 47 49 48 49 48 (1) (2)% (1) (2)% (1) (2)% Eliminations (28,355) (29,299) (29,706) (31,358) (27,923) (28,355) (27,923) 432 2 % 432 2 % 3,435 11 % Total Assets Under Management 707,727 728,954 734,812 778,073 671,360 707,727 671,360 (36,367) (5)% (36,367) (5)% (106,713) (14)% Total Assets Under Administration 183,456 186,950 186,471 195,376 167,760 183,456 167,760 (15,696) (9)% (15,696) (9)% (27,616) (14)% Total AUM and AUA $ 891,183 $ 915,904 $ 921,283 $ 973,449 $ 839,120 $ 891,183 $ 839,120 $ (52,063) (6)% $ (52,063) (6)% $ (134,329) (14)% Business Metrics AWM total client assets $ 588,345 $ 607,514 $ 611,650 $ 643,046 $ 559,808 $ 588,345 $ 559,808 $ (28,537) (5)% $ (28,537) (5)% $ (83,238) (13)% Total financial advisors 9,979 9,951 9,930 9,871 9,878 9,979 9,878 (101) (1)% (101) (1)% 7 - Net Flows and Net Deposits Advisor wrap $ 4,337 $ 4,819 $ 4,109 $ 4,359 $ 6,111 $ 4,337 $ 6,111 $ 1,774 41 % $ 1,774 41 % $ 1,752 40 % Asset Management $ (7,231) $ (1,927) $ (1,277) $ 3,348 $ (2,458) $ (7,231) $ (2,458) $ 4,773 66 % $ 4,773 66 % $ (5,806) # Annuities (5) $ (1,050) $ (1,027) $ (841) $ (931) $ (906) $ (1,050) $ (906) $ 144 14 % $ 144 14 % $ 25 3 % Variable universal life / Universal life $ (93) $ (57) $ (63) $ (52) $ (77) $ (93) $ (77) $ 16 17 % $ 16 17 % $ (25) (48)% S&P 500 Daily average 2,720 2,884 2,958 3,089 3,069 2,720 3,069 349 13 % 349 13 % (20) (1)% Period end 2,834 2,942 2,977 3,231 2,585 2,834 2,585 (249) (9)% (249) (9)% (646) (20)% Weighted Equity Index (WEI) (6) Daily average 1,930 2,030 2,065 2,152 2,111 1,930 2,111 181 9 % 181 9 % (41) (2)% Period end 2,001 2,069 2,075 2,247 1,753 2,001 1,753 (248) (12)% (248) (12)% (494) (22)% (1) See non-GAAP financial information on pg 33. Non-GAAP financial measure reconciliations can be found on pages 47 and 48. (2) Calculated as total equity excluding CIEs divided by common shares outstanding plus common stock equivalents outstanding at period end. (3) Calculated as total equity excluding CIEs and AOCI divided by common shares outstanding plus common stock equivalents outstanding at period end. (4) The first quarter of 2020 does not include $500 million of debt issuance that settled on April 2, 2020. (5) Excludes payout annuities. (6) Weighted Equity Index is an Ameriprise calculated proxy for equity market movements calculated using a weighted average of the S&P 500, Russell 2000, Russell Midcap and MSCI EAFE indices based on North America distributed equity assets. # Variance equal to or greater than 100%. 7 of 51


 
Ameriprise Financial, Inc. Common Share and Capital Summary First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Common shares Beginning balance 136.3 134.2 131.3 127.4 123.9 136.3 123.9 (12.4) (9)% (12.4) (9)% (3.5) (3)% Repurchases (2.8) (3.0) (4.0) (3.6) (2.5) (2.8) (2.5) 0.3 11 % 0.3 11 % 1.1 31 % Issuances 0.9 0.3 0.3 0.3 1.8 0.9 1.8 0.9 # 0.9 # 1.5 # Other (0.2) (0.2) (0.2) (0.2) (0.9) (0.2) (0.9) (0.7) # (0.7) # (0.7) # Total common shares outstanding 134.2 131.3 127.4 123.9 122.3 134.2 122.3 (11.9) (9)% (11.9) (9)% (1.6) (1)% Restricted stock units 3.1 3.2 3.2 3.3 3.1 3.1 3.1 - - - - (0.2) (6)% Total basic common shares outstanding 137.3 134.5 130.6 127.2 125.4 137.3 125.4 (11.9) (9)% (11.9) (9)% (1.8) (1)% Total potentially dilutive shares 1.5 2.0 1.9 2.6 0.9 1.5 0.9 (0.6) (40)% (0.6) (40)% (1.7) (6 5)% Total diluted shares 138.8 136.5 132.5 129.8 126.3 138.8 126.3 (12.5) (9)% (12.5) (9)% (3.5) (3)% Capital Returned to Shareholders Dividends paid $ 127 $ 134 $ 129 $ 128 $ 126 $ 127 $ 126 $ (1) (1)% $ (1) (1)% $ (2) (2)% Common stock share repurchases $ 355 $ 436 $ 547 $ 561 $ 386 $ 355 $ 386 $ 31 9 % $ 31 9 % $ (175) (31)% Allocated Capital (1) Advice & Wealth Management $ 756 $ 817 $ 910 $ 977 $ 1,053 $ 756 $ 1,053 $ 297 39 % $ 297 39 % $ 76 8 % Asset Management 1,849 1,844 1,827 1,838 1,818 1,849 1,818 (31) (2)% (31) (2)% (20) (1)% Annuities 1,770 1,741 1,802 1,861 1,757 1,770 1,757 (13) (1)% (13) (1)% (104) (6)% Protection 773 743 769 777 960 773 960 187 24 % 187 24 % 183 24 % Corporate & Other 4,009 3,665 3,401 3,063 3,701 4,009 3,701 (308) (8)% (308) (8)% 638 21 % Total allocated capital $ 9,157 $ 8,810 $ 8,709 $ 8,516 $ 9,289 $ 9,157 $ 9,289 $ 132 1 % $ 132 1 % $ 773 9 % (1) Allocated capital equals Ameriprise Financial shareholders' equity excluding consolidated investment entities less AOCI plus Ameriprise Financial long-term debt excluding fair value of hedges, unamortized discount, debt issuance costs and finance lease liabilities. Allocated capital is not adjusted for non adjusted operating items except for CIEs. # Variance equal to or greater than 100%. 8 of 51


 
Statistical Supplement Package (unaudited) First Quarter 2020 Segment Results 9 of 51


 
Ameriprise Financial, Inc. Segment Summary First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Segment Summary Advice & Wealth Management Adjusted operating total net revenues $ 1,554 $ 1,653 $ 1,682 $ 1,710 $ 1,695 $ 1,554 $ 1,695 $ 141 9 % $ 141 9 % $ (15) (1)% Adjusted operating expenses 1,204 1,277 1,286 1,323 1,317 1,204 1,317 113 9 % 113 9 % (6) - Pretax adjusted operating earnings $ 350 $ 376 $ 396 $ 387 $ 378 $ 350 $ 378 $ 28 8 % $ 28 8 % $ (9) (2)% Allocated capital $ 756 $ 817 $ 910 $ 977 $ 1,053 $ 756 $ 1,053 $ 297 39 % $ 297 39 % $ 76 8 % Adjusted operating return on allocated capital (1) 159.8 % 158.3 % 155.6 % 150.9 % 153.0 % 159.8 % 153.0 % (6.8)% (6.8)% 2.1 % Pretax adjusted operating margin 22.5 % 22. 7 % 23.5 % 22.6 % 22.3 % 22.5 % 22.3 % (0.2)% (0.2)% (0.3)% Asset Management Adjusted operating total net revenues $ 689 $ 712 $ 742 $ 770 $ 686 $ 689 $ 686 $ (3) - $ (3) - $ (84) (11)% Adjusted operating expenses 543 548 569 592 529 543 529 (14) (3)% (14) (3)% (63) (11)% Pretax adjusted operating earnings $ 146 $ 164 $ 173 $ 178 $ 157 $ 146 $ 157 $ 11 8 % $ 11 8 % $ (21) (12)% Allocated capital $ 1,849 $ 1,844 $ 1,827 $ 1,838 $ 1,818 $ 1,849 $ 1,818 $ (31) (2)% $ (31) (2)% $ (20) (1)% Adjusted operating return on allocated capital (1) 30.6 % 29.8 % 28.7 % 30.2 % 32.8 % 30.6 % 32.8 % 2.2 % 2.2 % 2.6 % Pretax adjusted operating margin 21.2 % 23. 0 % 23.3 % 23.1 % 22.9 % 21.2 % 22.9 % 1.7 % 1.7 % (0.2)% Adjusted operating total net revenues $ 689 $ 712 $ 742 $ 770 $ 686 $ 689 $ 686 $ (3) - $ (3) - $ (84) (11)% Distribution pass thru revenues (179) (186) (189) (193) (186) (179) (186) (7) (4)% (7) (4)% 7 4 % Subadvisory and other pass thru revenues (81) (81) (83) (85) (78) (81) (78) 3 4 % 3 4 % 7 8 % (2) Net adjusted operating revenues $ 429 $ 445 $ 470 $ 492 $ 422 $ 429 $ 422 $ (7) (2)% $ (7) (2)% $ (70) (14)% Pretax adjusted operating earnings $ 146 $ 164 $ 173 $ 178 $ 157 $ 146 $ 157 $ 11 8 % $ 11 8 % $ (21) (12)% Adjusted operating net investment income (6) (3) (2) (4) - (6) - 6 # 6 # 4 # Amortization of intangibles 4 4 9 4 3 4 3 (1) (25)% (1) (25)% (1) (25)% (2) Net adjusted operating earnings $ 144 $ 165 $ 180 $ 178 $ 160 $ 144 $ 160 $ 16 11 % $ 16 11 % $ (18) (10)% Net pretax adjusted operating margin (2)(3) 33.6 % 37.1 % 38.3 % 36.2 % 37.9 % 33.6 % 37.9 % 4.3 % 4.3 % 1.7 % Annuities Adjusted operating total net revenues $ 604 $ 620 $ 617 $ 618 $ 589 $ 604 $ 589 $ (15) (2)% $ (15) (2)% $ (29) (5)% Adjusted operating expenses 476 491 497 498 494 476 494 18 4 % 18 4 % (4) (1)% Pretax adjusted operating earnings $ 128 $ 129 $ 120 $ 120 $ 95 $ 128 $ 95 $ (33) (26)% $ (33) (26)% $ (25) (21)% Allocated capital $ 1,770 $ 1,741 $ 1,802 $ 1,861 $ 1,757 $ 1,770 $ 1,757 $ (13) (1)% $ (13) (1)% $ (104) (6)% Adjusted operating return on allocated capital (1) 22.2 % 22.9 % 22.7 % 23.0 % 23.1 % 22.2 % 23.1 % 0.9 % 0.9 % 0.1 % Pretax adjusted operating margin 21.2 % 20. 8 % 19.4 % 19.4 % 16.1 % 21.2 % 16.1 % (5.1)% (5.1)% (3.3)% Protection Adjusted operating total net revenues $ 262 $ 259 $ 265 $ 261 $ 257 $ 262 $ 257 $ (5) (2)% $ (5) (2)% $ (4) (2)% Adjusted operating expenses 188 194 208 196 185 188 185 (3) (2)% (3) (2)% (11) (6)% Pretax adjusted operating earnings $ 74 $ 65 $ 57 $ 65 $ 72 $ 74 $ 72 $ (2) (3)% $ (2) (3)% $ 7 11 % Allocated capital $ 773 $ 743 $ 769 $ 777 $ 960 $ 773 $ 960 $ 187 24 % $ 187 24 % $ 183 24 % Adjusted operating return on allocated capital (1) 27.6 % 28.3 % 28.1 % 28.0 % 29.1 % 27.6 % 29.1 % 1.5 % 1.5 % 1.1 % Pretax adjusted operating margin 28.2 % 25. 1 % 21.5 % 24.9 % 28.0 % 28.2 % 28.0 % (0.2)% (0.2)% 3.1 % Corporate & Other Corporate excluding Long Term Care and Auto & Home pretax adjusted operating loss $ (78) $ (79) $ (73) $ (103) $ (52) $ (78) $ (52) $ 26 33 % $ 26 33 % $ 51 50 % Long Term Care pretax adjusted operating earnings (loss) $ 6 $ 4 $ (8) $ (2) $ 2 $ 6 $ 2 $ (4) (67)% $ (4) (67)% $ 4 # (4) Auto & Home pretax adjusted operating earnings (loss) $ 9 $ 14 $ (10) $ N/A - $ N/A - $ 9 $ N/A - $ N/A (9) N/A# $ N/A (9) N/A# $ N/A - N/A- (1) Calculated using adjusted operating earnings subject to the quarterly adjusted operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator. (2) See non-GAAP financial information on pg 33. (3) Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues. (4) Auto & Home business sold as of October 1, 2019 to American Family Insurance # Variance equal to or greater than 100%. 10 of 51


 
Statistical Supplement Package (unaudited) First Quarter 2020 Advice & Wealth Management Segment 11 of 51


 
Ameriprise Financial, Inc. Advice & Wealth Management Segment First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Advice & Wealth Management Segment Adjusted Operating Income Statements Revenues Management and financial advice fees $ 878 $ 954 $ 984 $ 1,025 $ 1,024 $ 878 $ 1,024 $ 146 17 % $ 146 17 % $ (1) - Distribution fees 561 580 578 562 548 561 548 (13) (2)% (13) (2)% (14) (2)% Net investment income 99 101 110 101 100 99 100 1 1 % 1 1 % (1) (1)% Premiums - - - - - - - - - - - - - Other revenues 51 54 45 52 48 51 48 (3) (6)% (3) (6)% (4) (8)% Total revenues 1,589 1,689 1,717 1,740 1,720 1,589 1,720 131 8 % 131 8 % (20) (1)% Banking and deposit interest expense 35 36 35 30 25 35 25 (10) (29)% (10) (29)% (5) (17)% Adjusted operating total net revenues 1,554 1,653 1,682 1,710 1,695 1,554 1,695 141 9 % 141 9 % (15) (1)% Expenses Distribution expenses 870 926 948 970 970 870 970 100 11 % 100 11 % - - Interest credited to fixed accounts - - - - - - - - - - - - - Benefits, claims, losses and settlement expenses - - - - - - - - - - - - - Amortization of deferred acquisition costs - - - - - - - - - - - - - Interest and debt expense 3 3 2 3 2 3 2 (1) (33)% (1) (33)% (1) (33)% General and administrative expense 331 348 336 350 345 331 345 14 4 % 14 4 % (5) (1)% Adjusted operating expenses 1,204 1,277 1,286 1,323 1,317 1,204 1,317 113 9 % 113 9 % (6) - Pretax adjusted operating earnings $ 350 $ 376 $ 396 $ 387 $ 378 $ 350 $ 378 $ 28 8 % $ 28 8 % $ (9) (2)% Pretax adjusted operating margin 22.5 % 22.7 % 23.5 % 22.6 % 22.3 % 22.5 % 22.3 % (0.2)% (0.2)% (0.3)% Return on Capital Allocated capital $ 756 $ 817 $ 910 $ 977 $ 1,053 $ 756 $ 1,053 $ 297 39 % $ 297 39 % $ 76 8 % Adjusted operating return on allocated capital (1) 159.8 % 158.3 % 155.6 % 150.9 % 153.0 % 159.8 % 153.0 % (6.8)% (6.8)% 2.1 % Brokerage Cash and Certificates Balances On-balance sheet (Net Investment Income) On-balance sheet - broker dealer $ 3,397 $ 3,137 $ 3,169 $ 3,141 $ 3,517 $ 3,397 $ 3,517 $ 120 4 % $ 120 4 % $ 376 12 % On-balance sheet - bank - 2,205 2,543 3,788 6,160 - 6,160 6,160 - 6,160 - 2,372 63 % On-balance sheet - certificate 8,139 7,951 7,744 7,522 7,336 8,139 7,336 (803) (10)% (803) (10)% (186) (2)% Total on-balance sheet 11,536 13,293 13,456 14,451 17,013 11,536 17,013 5,477 47 % 5,477 47 % 2,562 18 % Off-balance sheet (Distribution Fees) Off-balance sheet - broker dealer 21,928 18,964 18,295 18,470 22,988 21,928 22,988 1,060 5 % 1,060 5 % 4,518 Total Brokerage cash and certificates balances $ 33,464 $ 32,257 $ 31,751 $ 32,921 $ 40,001 $ 33,464 $ 40,001 $ 6,537 20 % $ 6,537 20 % $ 7,080 22 % Brokerage Sweep Fee (2) 2.12% 2.10% 2.04% 1.66% 1.33% 2.12% 1.33% (0.79)% (0.79)% (0.33)% (1) Calculated using adjusted operating earnings subject to the quarterly adjusted operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator. (2) Brokerage sweep fee does not include certificates. 12 of 51


 
Ameriprise Financial, Inc. Advice & Wealth Management Segment First Quarter 2020 Prior Year Comparisons (in millions, except headcount and where noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Product Information Certificates and Banking - Combined Pretax adjusted operating earnings $ 16 $ 16 $ 16 $ 18 $ 17 $ 16 $ 17 $ 1 6 % $ 1 6 % $ (1) (6)% Allocated capital $ 444 $ 503 $ 598 $ 650 $ 742 $ 444 $ 742 $ 298 67 % $ 298 67 % $ 92 14 % Adjusted operating return on allocated capital (1) 13.7 % 12.9 % 11.7 % 10.6 % 10.3 % 13.7 % 10.3 % (3.4)% (3.4)% (0.3)% Wealth Management & Distribution Pretax adjusted operating earnings $ 334 $ 360 $ 380 $ 369 $ 361 $ 334 $ 361 $ 27 8 % $ 27 8 % $ (8) (2)% Allocated capital $ 312 $ 314 $ 312 $ 327 $ 311 $ 312 $ 311 $ (1) - $ (1) - $ (16) (5)% Adjusted operating return on allocated capital (1) 333.3 % 347.8 % 367.8 % 384.4 % 418.9 % 333.3 % 418.9 % 85.6 % 85.6 % 34.5 % Financial Advisors Employee advisors (2) 2,190 2,185 2,165 2,131 2,102 2,190 2,102 (88) (4)% (88) (4)% (29) (1)% Franchisee advisors 7,789 7,766 7,765 7,740 7,776 7,789 7,776 (13) - (13) - 36 - Total financial advisors 9,979 9,951 9,930 9,871 9,878 9,979 9,878 (101) (1)% (101) (1)% 7 - Adjusted operating total net revenues per financial advisor (in thousands) (3) $ 156 $ 166 $ 169 $ 173 $ 172 $ 156 $ 172 $ 16 10 % $ 16 10 % $ (1) (1)% Adjusted operating total net revenues per financial advisor-trailing twelve months (in thousands) (4) $ 628 $ 638 $ 650 $ 664 $ 680 $ 628 $ 680 $ 52 8 % $ 52 8 % $ 16 2 % Advisor Retention Employee 93.0 % 92.9 % 91.8 % 91.2 % 90.2 % 93.0 % 90.2 % (2.8)% (2.8)% (1.0)% Franchisee 93.6 % 93.2 % 92.8 % 92.8 % 92.8 % 93.6 % 92.8 % (0.8)% (0.8)% - AWM Total Client Assets $ 588,345 $ 607,514 $ 611,650 $ 643,046 $ 559,808 $ 588,345 $ 559,808 $ (28,537) (5)% $ (28,537) (5)% $ (83,238) (13)% Total Wrap Accounts Beginning assets $ 251,486 $ 278,794 $ 291,969 $ 298,063 $ 317,536 $ 251,486 $ 317,536 $ 66,050 26 % $ 66,050 26 % $ 19,473 7 % Inflows from acquisitions - - - - - - - - - - - - - Other net flows 4,337 4,819 4,109 4,359 6,111 4,337 6,111 1,774 41 % 1,774 41 % 1,752 40 % Net flows 4,337 4,819 4,109 4,359 6,111 4,337 6,111 1,774 41 % 1,774 41 % 1,752 40 % Market appreciation (depreciation) and other 22,971 8,356 1,985 15,114 (48,142) 22,971 (48,142) (71,113) # (71,113) # (63,256) # Total wrap ending assets $ 278,794 $ 291,969 $ 298,063 $ 317,536 $ 275,505 $ 278,794 $ 275,505 $ (3,289) (1)% $ (3,289) (1)% $ (42,031) (13)% Advisory wrap account assets ending balance (5) $ 276,077 $ 289,070 $ 295,031 $ 314,281 $ 272,263 $ 276,077 $ 272,263 $ (3,814) (1)% $ (3,814) (1)% $ (42,018) (13)% (1) Calculated using adjusted operating earnings subject to the quarterly adjusted operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator. (2) IPI advisors are being included in the employee advisor count. (3) Year-to-date is sum of current and prior quarters for the year under review. (4) Trailing twelve months is the sum of the last four quarters. (5) Advisory wrap account assets represent those assets for which clients receive advisory services and are the primary driver of revenue earned on wrap accounts. Clients may hold non-advisory investments in their wrap accounts that do not incur an advisory fee. Beginning Q4 2019, all advisory fee billing is calculated in advance on a monthly basis using point-in-time assets. Prior to Q4 2019, some advisory accounts billed in arrears on a quarterly or monthly basis using average daily assets. # Variance equal to or greater than 100%. 13 of 51


 
Statistical Supplement Package (unaudited) First Quarter 2020 Asset Management Segment 14 of 51


 
Ameriprise Financial, Inc. Asset Management Segment First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Asset Management Segment Adjusted Operating Income Statements Revenues Management and financial advice fees $ 584 $ 607 $ 636 $ 661 $ 583 $ 584 $ 583 $ (1) - $ (1) - $ (78) (12)% Distribution fees 98 103 102 105 103 98 103 5 5 % 5 5 % (2) (2)% Net investment income 6 3 2 4 - 6 - (6) # (6) # (4) # Premiums - - - - - - - - - - - - - Other revenues 1 - 1 - - 1 - (1) # (1) # - - Total revenues 689 713 741 770 686 689 686 (3) - (3) - (84) (11)% Banking and deposit interest expense - 1 (1) - - - - - - - - - - Adjusted operating total net revenues 689 712 742 770 686 689 686 (3) - (3) - (84) (11)% Expenses Distribution expenses 223 230 236 239 231 223 231 8 4 % 8 4 % (8) (3)% Interest credited to fixed accounts - - - - - - - - - - - - - Benefits, claims, losses and settlement expenses - - - - - - - - - - - - - Amortization of deferred acquisition costs 3 2 2 2 3 3 3 - - - - 1 50 % Interest and debt expense 6 7 6 6 1 6 1 (5) (83)% (5) (83)% (5) (83)% General and administrative expense 311 309 325 345 294 311 294 (17) (5)% (17) (5)% (51) (15)% Adjusted operating expenses 543 548 569 592 529 543 529 (14) (3)% (14) (3)% (63) (11)% Pretax adjusted operating earnings $ 146 $ 164 $ 173 $ 178 $ 157 $ 146 $ 157 $ 11 8 % $ 11 8 % $ (21) (12)% Pretax adjusted operating margin 21.2 % 23.0 % 23.3 % 23.1 % 22.9 % 21.2 % 22.9 % 1.7 % 1.7 % (0.2)% Adjusted operating total net revenues $ 689 $ 712 $ 742 $ 770 $ 686 $ 689 $ 686 $ (3) - $ (3) - $ (84) (11)% Distribution pass thru revenues (179) (186) (189) (193) (186) (179) (186) (7) (4)% (7) (4)% 7 4 % Subadvisory and other pass thru revenues (81) (81) (83) (85) (78) (81) (78) 3 4 % 3 4 % 7 8 % (1) Net adjusted operating revenues $ 429 $ 445 $ 470 $ 492 $ 422 $ 429 $ 422 $ (7) (2)% $ (7) (2)% $ (70) (14)% Pretax adjusted operating earnings $ 146 $ 164 $ 173 $ 178 $ 157 $ 146 $ 157 $ 11 8 % $ 11 8 % $ (21) (12)% Adjusted operating net investment income (6) (3) (2) (4) - (6) - 6 # 6 # 4 # Amortization of intangibles 4 4 9 4 3 4 3 (1) (25)% (1) (25)% (1) (25)% (1) Net adjusted operating earnings $ 144 $ 165 $ 180 $ 178 $ 160 $ 144 $ 160 $ 16 11 % $ 16 11 % $ (18) (10)% Net pretax adjusted operating margin (1)(2) 33.6 % 37.1 % 38.3 % 36.2 % 37.9 % 33.6 % 37.9 % 4.3 % 4.3 % 1.7 % Performance Fees (3) Performance fees $ 6 $ 12 $ 33 $ 41 $ - $ 6 $ - $ (6) # $ (6) # $ (41) # Performance fee related general and administrative expense 3 - 15 22 - 3 - (3) # (3) # (22) # Net performance fees $ 3 $ 12 $ 18 $ 19 $ - $ 3 $ - $ (3) # $ (3) # $ (19) # Return on Capital Allocated capital $ 1,849 $ 1,844 $ 1,827 $ 1,838 $ 1,818 $ 1,849 $ 1,818 $ (31) (2)% $ (31) (2)% $ (20) (1)% Adjusted operating return on allocated capital (4) 30.6 % 29.8 % 28.7 % 30.2 % 32.8 % 30.6 % 32.8 % 2.2 % 2.2 % 2.6 % (1) See non-GAAP financial information on pg 33. (2) Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues. (3) Performance fees do not include CLO incentive fees. (4) Calculated using adjusted operating earnings subject to the quarterly adjusted operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator. # Variance equal to or greater than 100%. 15 of 51


 
Ameriprise Financial, Inc. Asset Management Segment First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Total Managed Assets by Type Equity $ 250,710 $ 252,740 $ 250,807 $ 271,149 $ 210,463 $ 250,710 $ 210,463 $ (40,247) (16)% $ (40,247) (16)% $ (60,686) (22)% Fixed income 166,092 172,618 176,105 179,210 174,012 166,092 174,012 7,920 5 % 7,920 5 % (5,198) (3)% Money market 5,092 5,340 4,797 5,634 4,947 5,092 4,947 (145) (3)% (145) (3)% (687) (12)% Alternative 3,166 3,154 3,163 3,093 2,745 3,166 2,745 (421) (13)% (421) (13)% (348) (11)% Hybrid and other 34,052 34,422 33,692 35,095 33,996 34,052 33,996 (56) - (56) - (1,099) (3)% Total managed assets by type $ 459,112 $ 468,274 $ 468,564 $ 494,181 $ 426,163 $ 459,112 $ 426,163 $ (32,949) (7)% $ (32,949) (7)% $ (68,018) (14)% Average Managed Assets by Type (1) Equity $ 244,009 $ 250,129 $ 250,986 $ 260,719 $ 246,757 $ 244,009 $ 246,757 $ 2,748 1 % $ 2,748 1 % $ (13,962) (5)% Fixed income 164,527 168,090 174,440 178,194 181,159 164,527 181,159 16,632 10 % 16,632 10 % 2,965 2 % Money market 5,029 5,200 4,941 5,252 4,745 5,029 4,745 (284) (6)% (284) (6)% (507) (10)% Alternative 3,132 3,168 3,138 3,084 3,030 3,132 3,030 (102) (3)% (102) (3)% (54) (2)% Hybrid and other 33,405 34,105 33,889 34,292 35,397 33,405 35,397 1,992 6 % 1,992 6 % 1,105 3 % Total average managed assets by type $ 450,102 $ 460,692 $ 467,394 $ 481,541 $ 471,088 $ 450,102 $ 471,088 $ 20,986 5 % $ 20,986 5 % $ (10,453) (2)% Total Assets Under Advisement (2) 8,854 10,290 11,515 11,707 12,796 8,854 12,796 3,942 45 % 3,942 45 % 1,089 9 % (1) Average ending balances are calculated using the average of the prior period's ending balance and all months in the current period. (2) Assets are presented on a one-quarter lag. 16 of 51


 
Ameriprise Financial, Inc. Asset Management Segment First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Managed Assets Rollforward Global Retail Funds Beginning assets $ 247,943 $ 267,965 $ 272,784 $ 271,409 $ 287,452 $ 247,943 $ 287,452 $ 39,509 16 % $ 39,509 16 % $ 16,043 6 % Inflows 11,573 11,456 11,084 12,826 17,371 11,573 17,371 5,798 50 % 5,798 50 % 4,545 35 % Outflows (15,081) (13,442) (12,453) (12,817) (20,028) (15,081) (20,028) (4,947) (33)% (4,947) (33)% (7,211) (56)% Net VP/VIT fund flows (759) (761) (583) (640) (737) (759) (737) 22 3 % 22 3 % (97) (15)% Net new flows (4,267) (2,747) (1,952) (631) (3,394) (4,267) (3,394) 873 20 % 873 20 % (2,763) # Reinvested dividends 555 2,906 580 5,664 502 555 502 (53) (10)% (53) (10)% (5,162) (91)% Net flows (3,712) 159 (1,372) 5,033 (2,892) (3,712) (2,892) 820 22 % 820 22 % (7,925) # Distributions (715) (3,403) (708) (6,480) (669) (715) (669) 46 6 % 46 6 % 5,811 90 % Market appreciation (depreciation) and other 24,063 8,595 1,835 15,743 (43,485) 24,063 (43,485) (67,548) # (67,548) # (59,228) # Foreign currency translation (1) 386 (532) (1,130) 1,747 (1,368) 386 (1,368) (1,754) # (1,754) # (3,115) # Total ending assets 267,965 272,784 271,409 287,452 239,038 267,965 239,038 (28,927) (11)% (28,927) (11)% (48,414) (17)% % of total retail assets sub-advised 18.4% 18.4% 18.6% 18.3% 19.2% 18.4% 19.2% 0.8 % 0.8 % 0.9 % Global Institutional Beginning assets 182,707 191,147 195,490 197,155 206,729 182,707 206,729 24,022 13 % 24,022 13 % 9,574 5 % Inflows 5,304 4,833 6,423 6,151 8,462 5,304 8,462 3,158 60 % 3,158 60 % 2,311 38 % Outflows (8,823) (6,919) (6,328) (7,836) (8,028) (8,823) (8,028) 795 9 % 795 9 % (192) (2)% Net flows (3,519) (2,086) 95 (1,685) 434 (3,519) 434 3,953 # 3,953 # 2,119 # Market appreciation (depreciation) and other (2) 10,742 7,870 4,118 7,041 (16,599) 10,742 (16,599) (27,341) # (27,341) # (23,640) # Foreign currency translation (1) 1,217 (1,441) (2,548) 4,218 (3,439) 1,217 (3,439) (4,656) # (4,656) # (7,657) # Total ending assets 191,147 195,490 197,155 206,729 187,125 191,147 187,125 (4,022) (2)% (4,022) (2)% (19,604) (9)% Total managed assets $ 459,112 $ 468,274 $ 468,564 $ 494,181 $ 426,163 $ 459,112 $ 426,163 $ (32,949) (7)% $ (32,949) (7)% $ (68,018) (14)% (3) Total net flows $ (7,231) $ (1,927) $ (1,277) $ 3,348 $ (2,458) $ (7,231) $ (2,458) $ 4,773 66 % $ 4,773 66 % $ (5,806) # Former Parent Company Related (4) Retail net new flows $ (278) $ (295) $ (117) $ (162) $ (205) $ (278) $ (205) $ 73 26 % $ 73 26 % $ (43) (27)% Institutional net new flows (825) (688) (1,183) (754) (598) (825) (598) 227 28 % 227 28 % 156 21 % Total net new flows $ (1,103) $ (983) $ (1,300) $ (916) $ (803) $ (1,103) $ (803) $ 300 27 % $ 300 27 % $ 113 12 % (1) Amounts represent local currency to US dollar translation for reporting purposes. (2) Included in Market appreciation (depreciation) and other for Global Institutional is the change in the affiliated general account balance. (3) Total net flows do not include $99M of sales attributable to the new RVS SSA product that was launched in Q1 2020 (4) Former parent company related assets and net new flows are included in the rollforwards above. # Variance equal to or greater than 100%. 17 of 51


 
Ameriprise Financial, Inc. Asset Management Segment - Columbia First Quarter 2020 Mutual Fund Rankings in top 2 Lipper Quartiles 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 Domestic Equity Equal weighted 1 year 40 % 49 % 46 % 57 % 54 % 3 year 50 % 47 % 47 % 53 % 51 % 5 year 63 % 56 % 56 % 47 % 59 % Asset weighted 1 year 48 % 66 % 63 % 75 % 75 % 3 year 58 % 57 % 61 % 65 % 69 % 5 year 77 % 77 % 75 % 69 % 75 % International Equity Equal weighted 1 year 40 % 55 % 77 % 100 % 64 % 3 year 65 % 80 % 80 % 80 % 80 % 5 year 65 % 55 % 60 % 65 % 60 % Asset weighted 1 year 43 % 68 % 83 % 100 % 54 % 3 year 80 % 88 % 87 % 86 % 84 % 5 year 66 % 58 % 68 % 69 % 61 % Taxable Fixed Income Equal weighted 1 year 71 % 82 % 76 % 83 % 33 % 3 year 75 % 81 % 75 % 81 % 47 % 5 year 80 % 88 % 88 % 88 % 75 % Asset weighted 1 year 59 % 67 % 64 % 90 % 20 % 3 year 76 % 82 % 82 % 89 % 29 % 5 year 83 % 90 % 90 % 90 % 79 % Tax Exempt Fixed Income Equal weighted 1 year 84 % 89 % 89 % 89 % 63 % 3 year 100 % 95 % 100 % 89 % 89 % 5 year 89 % 94 % 94 % 94 % 100 % Asset weighted 1 year 85 % 98 % 98 % 93 % 41 % 3 year 100 % 98 % 100 % 92 % 89 % 5 year 91 % 98 % 98 % 98 % 100 % Asset Allocation Funds Equal weighted 1 year 46 % 54 % 38 % 69 % 77 % 3 year 55 % 55 % 73 % 64 % 85 % 5 year 100 % 100 % 89 % 89 % 91 % Asset weighted 1 year 66 % 70 % 64 % 89 % 91 % 3 year 50 % 49 % 94 % 90 % 95 % 5 year 100 % 100 % 99 % 99 % 96 % Number of 4- or 5-star Morningstar rated funds Overall 49 53 52 56 56 3 year 55 51 48 51 41 5 year 52 49 49 53 48 Percent of 4- or 5-star Morningstar rated funds Overall 48 % 51 % 50 % 54 % 54 % 3 year 53 % 50 % 47 % 49 % 39 % 5 year 53 % 49 % 49 % 53 % 47 % Percent of 4- or 5-star Morningstar rated assets Overall 54 % 57 % 58 % 66 % 63 % 3 year 53 % 46 % 49 % 50 % 43 % 5 year 61 % 56 % 57 % 59 % 57 % Mutual fund performance rankings are based on the performance of the Institutional Class for Columbia branded mutual funds. Only funds with Institutional Class shares are included. Equal Weighted Rankings in Top 2 Quartiles: Counts the number of funds with above median ranking divided by the total number of funds. Asset size is not a factor. Asset Weighted Rankings in Top 2 Quartiles: Sums the total assets of the funds with above median ranking divided by total assets of all funds. Funds with more assets will receive a greater share of the total percentage above or below median. 18 of 51


 
Ameriprise Financial, Inc. Asset Management Segment - Threadneedle First Quarter 2020 Retail Fund Rankings in Top 2 Morningstar Quartiles or Above Index Benchmark 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 Equity Equal weighted 1 year 50 % 60 % 65 % 87 % 79 % 3 year 49 % 57 % 64 % 77 % 71 % 5 year 73 % 74 % 72 % 70 % 66 % Asset weighted 1 year 67 % 58 % 79 % 91 % 84 % 3 year 60 % 57 % 73 % 79 % 80 % 5 year 80 % 82 % 82 % 82 % 78 % Fixed Income Equal weighted 1 year 72 % 86 % 79 % 78 % 52 % 3 year 70 % 77 % 88 % 88 % 68 % 5 year 80 % 77 % 81 % 96 % 84 % Asset weighted 1 year 91 % 92 % 81 % 75 % 47 % 3 year 84 % 89 % 93 % 93 % 51 % 5 year 94 % 90 % 93 % 97 % 93 % Allocation (Managed) Funds Equal weighted 1 year 63 % 67 % 67 % 100 % 44 % 3 year 75 % 50 % 75 % 75 % 50 % 5 year 100 % 86 % 75 % 88 % 88 % Asset weighted 1 year 80 % 58 % 56 % 100 % 52 % 3 year 84 % 54 % 94 % 94 % 53 % 5 year 100 % 96 % 94 % 98 % 99 % The performance of each fund is measured on a consistent basis against the most appropriate benchmark - a peer group of similar funds or an index. Prior period rankings have been adjusted to reflect a change in the calculation of FX forward and spot contract transactions executed by those funds, and also to include cash items primarily fee rebates, that were previously excluded from the gross performance calculations. Equal weighted: Counts the number of funds with above median ranking (if measured against peer group) or above index performance (if measured against an index) divided by the total number of funds. Asset size is not a factor. Asset weighted: Sums the assets of the funds with above median ranking (if measured against peer group) or above index performance (if measured against an index) divided by the total sum of assets in the funds. Funds with more assets will receive a greater share of the total percentage above or below median or index. Aggregated Allocation (Managed) Funds include funds that invest in other funds of the Threadneedle range including those funds that invest in both equity and fixed income. Aggregated Threadneedle data includes funds on the Threadneedle platform sub-advised by Columbia as well as advisors not affiliated with Ameriprise Financial, Inc. 19 of 51


 
Statistical Supplement Package (unaudited) First Quarter 2020 Annuities Segment 20 of 51


 
Ameriprise Financial, Inc. Annuities Segment First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Annuities Segment Adjusted Operating Income Statements Revenues Management and financial advice fees $ 188 $ 195 $ 198 $ 202 $ 189 $ 188 $ 189 $ 1 1 % $ 1 1 % $ (13) (6)% Distribution fees 84 85 88 88 83 84 83 (1) (1)% (1) (1)% (5) (6)% Net investment income 156 139 130 129 126 156 126 (30) (19)% (30) (19)% (3) (2)% Premiums 34 31 26 25 25 34 25 (9) (26)% (9) (26)% - - Other revenues 142 170 175 174 166 142 166 24 17 % 24 17 % (8) (5)% Total revenues 604 620 617 618 589 604 589 (15) (2)% (15) (2)% (29) (5)% Banking and deposit interest expense - - - - - - - - - - - - - Adjusted operating total net revenues 604 620 617 618 589 604 589 (15) (2)% (15) (2)% (29) (5)% Expenses Distribution expenses 104 105 112 109 102 104 102 (2) (2)% (2) (2)% (7) (6)% Interest credited to fixed accounts 109 112 113 111 113 109 113 4 4 % 4 4 % 2 2 % Benefits, claims, losses and settlement expenses 164 168 158 174 173 164 173 9 5 % 9 5 % (1) (1)% Amortization of deferred acquisition costs 42 46 56 46 46 42 46 4 10 % 4 10 % - - Interest and debt expense 11 10 9 9 12 11 12 1 9 % 1 9 % 3 33 % General and administrative expense 46 50 49 49 48 46 48 2 4 % 2 4 % (1) (2)% Adjusted operating expenses 476 491 497 498 494 476 494 18 4 % 18 4 % (4) (1)% Pretax adjusted operating earnings $ 128 $ 129 $ 120 $ 120 $ 95 $ 128 $ 95 $ (33) (26)% $ (33) (26)% $ (25) (21)% Pretax adjusted operating margin 21.2 % 20.8 % 19.4 % 19.4 % 16.1 % 21.2 % 16.1 % (5.1)% (5.1)% (3.3)% Return on Capital Allocated capital $ 1,770 $ 1,741 $ 1,802 $ 1,861 $ 1,757 $ 1,770 $ 1,757 $ (13) (1)% $ (13) (1)% $ (104) (6)% Adjusted operating return on allocated capital (1) 22.2 % 22.9 % 22.7 % 23.0 % 23.1 % 22.2 % 23.1 % 0.9 % 0.9 % 0.1 % (1) Calculated using adjusted operating earnings subject to the quarterly adjusted operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator. 21 of 51


 
Ameriprise Financial, Inc. Annuities Segment First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Product Information Variable Annuities Pretax adjusted operating earnings $ 115 $ 119 $ 105 $ 113 $ 93 $ 115 $ 93 $ (22) (19)% $ (22) (19)% $ (20) (18)% Allocated capital (1) $ 650 $ 650 $ 650 $ 650 $ 650 $ 650 $ 650 $ - - $ - - $ - - Adjusted operating return on allocated capital (2) 59.5 % 60.6 % 58.2 % 58.4 % 59.0 % 59.5 % 59.0 % (0.5)% (0.5)% 0.6 % Fixed Annuities (3) Pretax adjusted operating earnings $ 13 $ 10 $ 15 $ 7 $ 2 $ 13 $ 2 $ (11) (85)% $ (11) (85)% $ (5) (71)% Allocated capital $ 1,120 $ 1,091 $ 1,152 $ 1,211 $ 1,107 $ 1,120 $ 1,107 $ (13) (1)% $ (13) (1)% $ (104) (9)% Adjusted operating return on allocated capital (2) 2.4 % 2.3 % 3.0 % 3.2 % 2.6 % 2.4 % 2.6 % 0.2 % 0.2 % (0.6)% Variable Annuities Rollforward Beginning balance $ 72,042 $ 76,875 $ 78,054 $ 77,452 $ 80,068 $ 72,042 $ 80,068 $ 8,026 11 % $ 8,026 11 % $ 2,616 3 % Deposits 867 1,030 1,083 1,107 1,072 867 1,072 205 24 % 205 24 % (35) (3)% Withdrawals and terminations (1,722) (1,891) (1,774) (1,863) (1,784) (1,722) (1,784) (62) (4)% (62) (4)% 79 4 % Net flows (855) (861) (691) (756) (712) (855) (712) 143 17 % 143 17 % 44 6 % Investment performance and interest credited 5,688 2,040 87 3,374 (9,397) 5,688 (9,397) (15,085) # (15,085) # (12,771) # Other - - 2 (2) - - - - - - - 2 # Total ending balance - contract accumulation values $ 76,875 $ 78,054 $ 77,452 $ 80,068 $ 69,959 $ 76,875 $ 69,959 $ (6,916) (9)% $ (6,916) (9)% $ (10,109) (13)% Variable annuities fixed sub-accounts $ 5,127 $ 5,114 $ 5,122 $ 5,103 $ 5,125 $ 5,127 $ 5,125 $ (2) - $ (2) - $ 22 - Fixed Deferred Annuities Rollforward Beginning balance $ 8,714 $ 8,588 $ 8,490 $ 8,409 $ 8,306 $ 8,714 $ 8,306 $ (408) (5)% $ (408) (5)% $ (103) (1)% Deposits 89 94 65 44 37 89 37 (52) (58)% (52) (58)% (7) (16)% Withdrawals and terminations (284) (260) (215) (219) (231) (284) (231) 53 19 % 53 19 % (12) (5)% Net flows (195) (166) (150) (175) (194) (195) (194) 1 1 % 1 1 % (19) (11)% Policyholder interest credited 68 69 68 72 53 68 53 (15) (22)% (15) (22)% (19) (26)% Other 1 (1) 1 - - 1 - (1) # (1) # - - Total ending balance - contract accumulation values $ 8,588 $ 8,490 $ 8,409 $ 8,306 $ 8,165 $ 8,588 $ 8,165 $ (423) (5)% $ (423) (5)% $ (141) (2)% Payout Annuities Reserve Balance $ 2,078 $ 2,072 $ 2,060 $ 2,055 $ 2,037 $ 2,078 $ 2,037 $ (41) (2)% $ (41) (2)% $ (18) (1)% Tax Equivalent Spread - Fixed Deferred Annuities (4) Gross rate of return on invested assets (5) 4.0 % 4.0 % 3.9 % 3.9 % 3.7 % 4.0 % 3.7 % (0.3)% (0.3)% (0.2)% Crediting rate excluding capitalized interest (3.2)% (3.3)% (3.3)% (3.3)% (3.3)% (3.2)% (3.3)% (0.1)% (0.1)% - Tax equivalent margin spread 0.8 % 0.7 % 0.6 % 0.6 % 0.4 % 0.8 % 0.4 % (0.4)% (0.4)% (0.2)% Total Variable Annuities DAC Beginning balance $ 1,733 $ 1,763 $ 1,756 $ 1,719 $ 1,790 $ 1,733 $ 1,790 $ 57 3 % $ 57 3 % $ 71 4 % Capitalization 34 39 41 40 39 34 39 5 15 % 5 15 % (1) (3)% Non adjusted operating amortization 28 4 4 72 (415) 28 (415) (443) # (443) # (487) # Amortization per income statement (18) (36) (78) (43) (43) (18) (43) (25) # (25) # - - Other (14) (14) (4) 2 26 (14) 26 40 # 40 # 24 # Total ending balance $ 1,763 $ 1,756 $ 1,719 $ 1,790 $ 1,397 $ 1,763 $ 1,397 $ (366) (21)% $ (366) (21)% $ (393) (22)% Total Fixed Deferred Annuities DAC Beginning balance $ 81 $ 64 $ 53 $ 53 $ 54 $ 81 $ 54 $ (27) (33)% $ (27) (33)% $ 1 2 % Capitalization 1 3 2 1 1 1 1 - - - - - - Non adjusted operating amortization - - - - (1) - (1) (1) - (1) - (1) - Amortization per income statement (6) (4) - (3) (3) (6) (3) 3 50 % 3 50 % - - Other (12) (10) (2) 3 17 (12) 17 29 # 29 # 14 # Total ending balance $ 64 $ 53 $ 53 $ 54 $ 68 $ 64 $ 68 $ 4 6 % $ 4 6 % $ 14 26 % (1) The variable annuity allocated capital calculation takes into account the capital necessary to support the business, recognizing the established reserves and potential future interest rate changes. (2) Calculated using adjusted operating earnings subject to the quarterly adjusted operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator. (3) Includes payout annuities. (4) Attributable to interest sensitive products only, which has been approximately 99% of the total ending fixed deferred annuities accumulation values in the periods reported. The asset earnings rate is a calculated yield based on specifically assigned assets. (5) In the 1st quarter of 2019 through the 1st quarter of 2020, the Gross rates of return on invested assets were impacted by outstanding repurchase agreements. Without these positions, the Gross rates of return on invested assets would have been 4.0%, 3.9%, 3.9%, 3.9% and 3.7% respectively. # Variance equal to or greater than 100%. 22 of 51


 
Statistical Supplement Package (unaudited) First Quarter 2020 Protection Segment 23 of 51


 
Ameriprise Financial, Inc. Protection Segment First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Protection Segment Adjusted Operating Income Statements Revenues Management and financial advice fees $ 11 $ 11 $ 11 $ 11 $ 10 $ 11 $ 10 $ (1) (9)% $ (1) (9)% $ (1) (9)% Distribution fees 23 23 24 24 22 23 22 (1) (4)% (1) (4)% (2) (8)% Net investment income 78 76 77 77 76 78 76 (2) (3)% (2) (3)% (1) (1)% Premiums 50 51 50 50 49 50 49 (1) (2)% (1) (2)% (1) (2)% Other revenues 100 98 103 99 100 100 100 - - - - 1 1 % Total revenues 262 259 265 261 257 262 257 (5) (2)% (5) (2)% (4) (2)% Banking and deposit interest expense - - - - - - - - - - - - - Adjusted operating total net revenues 262 259 265 261 257 262 257 (5) (2)% (5) (2)% (4) (2)% Expenses Distribution expenses 11 11 11 11 9 11 9 (2) (18)% (2) (18)% (2) (18)% Interest credited to fixed accounts 52 52 54 54 53 52 53 1 2 % 1 2 % (1) (2)% Benefits, claims, losses and settlement expenses 74 81 92 80 74 74 74 - - - - (6) (8)% Amortization of deferred acquisition costs 14 13 12 14 10 14 10 (4) (29)% (4) (29)% (4) (29)% Interest and debt expense 4 4 4 3 5 4 5 1 25 % 1 25 % 2 67 % General and administrative expense 33 33 35 34 34 33 34 1 3 % 1 3 % - - Adjusted operating expenses 188 194 208 196 185 188 185 (3) (2)% (3) (2)% (11) (6)% Pretax adjusted operating earnings $ 74 $ 65 $ 57 $ 65 $ 72 $ 74 $ 72 $ (2) (3)% $ (2) (3)% $ 7 11 % Pretax adjusted operating margin 28.2 % 25.1 % 21.5 % 24.9 % 28.0 % 28.2 % 28.0 % (0.2)% (0.2)% 3.1 % Return on Capital Allocated capital $ 773 $ 743 $ 769 $ 777 $ 960 $ 773 $ 960 $ 187 24 % $ 187 24 % $ 183 24 % Adjusted operating return on allocated capital (1) 27.6 % 28.3 % 28.1 % 28.0 % 29.1 % 27.6 % 29.1 % 1.5 % 1.5 % 1.1 % (1) Calculated using adjusted operating earnings subject to the quarterly adjusted operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator. 24 of 51


 
Ameriprise Financial, Inc. Protection Segment First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Cash Sales VUL / UL (1) $ 56 $ 70 $ 71 $ 69 $ 56 $ 56 $ 56 $ - - $ - - $ (13) (19)% Term and whole life 2 2 2 3 2 2 2 - - - - (1) (33)% Disability insurance 1 1 1 - 1 1 1 - - - - 1 - Total cash sales $ 59 $ 73 $ 74 $ 72 $ 59 $ 59 $ 59 $ - - $ - - $ (13) (18)% VUL / UL Policyholder Account Balances Beginning balance $ 11,951 $ 12,578 $ 12,790 $ 12,785 $ 13,236 $ 11,951 $ 13,236 $ 1,285 11 % $ 1,285 11 % $ 451 4 % Premiums and deposits 231 248 248 261 237 231 237 6 3 % 6 3 % (24) (9)% Investment performance and interest 720 270 58 503 (1,217) 720 (1,217) (1,937) # (1,937) # (1,720) # Withdrawals and surrenders (324) (305) (311) (313) (314) (324) (314) 10 3 % 10 3 % (1) - Other - (1) - - - - - - - - - - - Total ending balance $ 12,578 $ 12,790 $ 12,785 $ 13,236 $ 11,942 $ 12,578 $ 11,942 $ (636) (5)% $ (636) (5)% $ (1,294) (10)% Premiums by Product Term and whole life $ 11 $ 11 $ 10 $ 11 $ 11 $ 11 $ 11 $ - - $ - - $ - - Disability insurance 33 34 34 32 33 33 33 - - - - 1 3 % Intercompany premiums 6 6 6 7 5 6 5 (1) (17)% (1) (17)% (2) (29)% Total premiums by product $ 50 $ 51 $ 50 $ 50 $ 49 $ 50 $ 49 $ (1) (2)% $ (1) (2)% $ (1) (2)% DAC Rollforward Life and Health Beginning balance $ 944 $ 926 $ 900 $ 851 $ 850 $ 944 $ 850 $ (94) (10)% $ (94) (10)% $ (1) - Capitalization 19 20 20 19 17 19 17 (2) (11)% (2) (11)% (2) (11)% Non adjusted operating amortization 11 6 (12) - (36) 11 (36) (47) # (47) # (36) - Amortization per income statement (14) (13) (9) (17) (11) (14) (11) 3 21 % 3 21 % 6 35 % Other (34) (39) (48) (3) 74 (34) 74 108 # 108 # 77 # Total ending balance $ 926 $ 900 $ 851 $ 850 $ 894 $ 926 $ 894 $ (32) (3)% $ (32) (3)% $ 44 5 % Life Insurance in Force $ 194,888 $ 194,976 $ 194,806 $ 195,103 $ 194,617 $ 194,888 $ 194,617 $ (271) - $ (271) - $ (486) - Net Amount at Risk $ 39,800 $ 39,472 $ 39,318 $ 38,976 $ 40,075 $ 39,800 $ 40,075 $ 275 1 % $ 275 1 % $ 1,099 3 % Net Policyholder Reserves VUL / UL $ 11,975 $ 12,232 $ 12,202 $ 12,676 $ 11,224 $ 11,975 $ 11,224 $ (751) (6)% $ (751) (6)% $ (1,452) (11)% Term and whole life 188 186 184 181 180 188 180 (8) (4)% (8) (4)% (1) (1)% Disability insurance 523 519 518 519 508 523 508 (15) (3)% (15) (3)% (11) (2)% Other insurance 706 700 690 682 668 706 668 (38) (5)% (38) (5)% (14) (2)% Total net policyholder reserves $ 13,392 $ 13,637 $ 13,594 $ 14,058 $ 12,580 $ 13,392 $ 12,580 $ (812) (6)% $ (812) (6)% $ (1,478) (11)% (1) Includes lump sum deposits. # Variance equal to or greater than 100%. 25 of 51


 
Statistical Supplement Package (unaudited) First Quarter 2020 Corporate & Other Segment 26 of 51


 
Ameriprise Financial, Inc. Corporate & Other Segment First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Product Information (1) Corporate excluding Long Term Care and Auto & Home Adjusted operating total net revenues $ (14) $ (11) $ (11) $ (25) $ (5) $ (14) $ (5) $ 9 64 % $ 9 64 % $ 20 80 % Adjusted operating expenses 64 68 62 78 47 64 47 (17) (27)% (17) (27)% (31) (40)% Pretax adjusted operating earnings (loss) $ (78) $ (79) $ (73) $ (103) $ (52) $ (78) $ (52) $ 26 33 % $ 26 33 % $ 51 50 % Long Term Care Adjusted operating total net revenues $ 68 $ 68 $ 69 $ 69 $ 67 $ 68 $ 67 $ (1) (1)% $ (1) (1)% $ (2) (3)% Adjusted operating expenses 62 64 77 71 65 62 65 3 5 % 3 5 % (6) (8)% Pretax adjusted operating earnings (loss) $ 6 $ 4 $ (8) $ (2) $ 2 $ 6 $ 2 $ (4) (67)% $ (4) (67)% $ 4 # Allocated capital $ 697 $ 699 $ 686 $ 708 $ 701 $ 697 $ 701 $ 4 1 % $ 4 1 % $ (7) (1)% Auto and Home Insurance (2) Pretax adjusted operating earnings (loss) $ 9 $ 14 $ (10) $ N/A - $ N/A - $ 9 $ N/A - $ N/A (9) N/A# $ N/A (9) N/A# $ N/A - N/A- (1) See Exhibit B for details on Long Term Care and Corporate Excluding Long Term Care and Auto & Home (2) Auto & Home business sold as of October 1, 2019 to American Family Insurance # Variance equal to or greater than 100%. 27 of 51


 
Ameriprise Financial, Inc. Eliminations (1) First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Eliminations Adjusted Operating Income Statements Revenues Management and financial advice fees $ (33) $ (35) $ (35) $ (36) $ (35) $ (33) $ (35) $ (2) (6)% $ (2) (6)% $ 1 3 % Distribution fees (288) (303) (313) (310) (292) (288) (292) (4) (1)% (4) (1)% 18 6 % Net investment income (5) (5) (7) (6) (4) (5) (4) 1 20 % 1 20 % 2 33 % Premiums (9) (8) (8) (9) (8) (9) (8) 1 11 % 1 11 % 1 11 % Other revenues - - - - - - - - - - - - - Total revenues (335) (351) (363) (361) (339) (335) (339) (4) (1)% (4) (1)% 22 6 % Banking and deposit interest expense (2) (2) (1) (3) (1) (2) (1) 1 50 % 1 50 % 2 67 % Adjusted operating total net revenues (333) (349) (362) (358) (338) (333) (338) (5) (2)% (5) (2)% 20 6 % Expenses Distribution expenses (310) (324) (337) (334) (315) (310) (315) (5) (2)% (5) (2)% 19 6 % Interest credited to fixed accounts - - - - - - - - - - - - - Benefits, claims, losses and settlement expenses (4) (5) (4) 1 (5) (4) (5) (1) (25)% (1) (25)% (6) # Amortization of deferred acquisition costs - - - - - - - - - - - - - Interest and debt expense (3) (4) (4) (4) (3) (3) (3) - - - - 1 25 % General and administrative expense (16) (16) (17) (21) (15) (16) (15) 1 6 % 1 6 % 6 29 % Adjusted operating expenses (333) (349) (362) (358) (338) (333) (338) (5) (2)% (5) (2)% 20 6 % Pretax adjusted operating earnings $ - $ - $ - $ - $ - $ - $ - $ - - $ - - $ - - (1) The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses. # Variance equal to or greater than 100%. 28 of 51


 
Statistical Supplement Package (unaudited) First Quarter 2020 Balance Sheet and Ratings Information 29 of 51


 
Ameriprise Financial, Inc. Consolidated Balance Sheets First Quarter 2020 (in millions, unaudited) March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2020 Assets Cash and cash equivalents $ 3,259 $ 4,302 $ 5,290 $ 3,709 $ 8,730 Cash of consolidated investment entities 88 59 102 118 99 Investments, net of allowance for credit losses 33,463 35,300 35,725 37,915 36,626 Investments of consolidated investment entities 1,740 1,707 1,650 1,606 1,398 Separate account assets 83,571 84,926 84,067 87,488 75,305 Receivables, net of allowance for credit losses 7,434 7,412 7,328 7,202 7,185 Receivables of consolidated investment entities 28 23 20 8 3 Deferred acquisition costs 2,757 2,713 2,626 2,698 2,364 Restricted and segregated cash and investments 2,564 2,377 2,174 2,386 2,848 Other assets 7,472 7,832 8,545 8,698 11,124 Assets held for sale 2,027 2,027 1,986 - - Total Assets $ 144,403 $ 148,678 $ 149,513 $ 151,828 $ 145,682 Liabilities Policyholder account balances, future policy benefits and claims $ 29,463 $ 30,183 $ 31,146 $ 30,512 $ 32,685 Separate account liabilities 83,571 84,926 84,067 87,488 75,305 Customer deposits 11,520 13,273 13,436 14,430 17,010 Short-term borrowings 201 201 201 201 200 Long-term debt (1) 3,394 3,104 3,101 3,097 2,344 Debt of consolidated investment entities 1,731 1,707 1,670 1,628 1,376 Accounts payable and accrued expenses 1,596 1,686 1,783 1,884 1,427 Other liabilities 5,808 6,366 6,925 6,775 8,536 Other liabilities of consolidated investment entities 105 61 82 84 106 Liabilities held for sale 1,171 1,141 1,105 - - Total Liabilities 138,560 142,648 143,516 146,099 138,989 Equity Ameriprise Financial Common shares ($.01 par) 3 3 3 3 3 Additional paid-in capital 8,270 8,337 8,392 8,461 8,578 Retained earnings 13,172 13,530 13,944 14,279 16,180 Treasury stock (15,637) (16,109) (16,679) (17,276) (17,773) Accumulated other comprehensive income, net of tax 35 269 337 262 (295) Total Equity 5,843 6,030 5,997 5,729 6,693 Total Liabilities and Equity $ 144,403 $ 148,678 $ 149,513 $ 151,828 $ 145,682 (1) The first quarter of 2020 does not include $500 million of debt issuance that settled on April 2, 2020. 30 of 51


 
Ameriprise Financial, Inc. Capital and Ratings Information First Quarter 2020 (in millions unless otherwise noted, unaudited) March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2020 Long-term Debt Summary Senior notes (1) $ 3,350 $ 3,050 $ 3,050 $ 3,050 $ 2,300 Finance Lease Liabilities 55 64 61 57 54 Fair value of hedges, unamortized discount and debt issuance costs (11) (10) (10) (10) (10) Total Ameriprise Financial long-term debt 3,394 3,104 3,101 3,097 2,344 Non-recourse debt of consolidated investment entities 1,731 1,707 1,670 1,628 1,376 Total long-term debt $ 5,125 $ 4,811 $ 4,771 $ 4,725 $ 3,720 Total Ameriprise Financial long-term debt $ 3,394 $ 3,104 $ 3,101 $ 3,097 $ 2,344 Fair value of hedges, unamortized discount and debt issuance costs 11 10 10 10 10 Finance lease liabilities (55) (64) (61) (57) (54) Total Ameriprise Financial long-term debt excluding fair value of hedges, unamortized discount, debt issuance costs and finance lease liabilities (2) $ 3,350 $ 3,050 $ 3,050 $ 3,050 $ 2,300 Total equity (3) $ 5,843 $ 6,030 $ 5,997 $ 5,729 $ 6,693 Equity of consolidated investment entities (1) (1) - (1) (2) (2) Total equity excluding CIEs $ 5,842 $ 6,029 $ 5,997 $ 5,728 $ 6,691 Total Ameriprise Financial capital $ 9,237 $ 9,134 $ 9,098 $ 8,826 $ 9,037 Total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, finance lease liabilities and equity of CIEs (2) $ 9, 192 $ 9,079 $ 9,047 $ 8,778 $ 8,991 Debt to capital Total Ameriprise Financial long-term debt to total Ameriprise Financial capital (1) 36.7 % 34.0 % 34.1 % 35.1 % 25.9 % Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, finance lease liabilities and equity of CIEs (1)(2) 36.4 % 33.6 % 33.7 % 34.7 % 25.6 % A.M. Best Standard & Poor’s Rating Moody’s Investors Ratings (as of March 31, 2020 earnings release date) Company Services Service, Inc. Claims Paying Ratings (4) RiverSource Life Insurance Company A+ AA- Aa3 Ameriprise Captive Insurance Company A N/R N/R Debt Ratings (4) Ameriprise Financial, Inc. a- A A3 (1) The first quarter of 2020 does not include $500 million of debt issuance that settled on April 2, 2020. (2) See non-GAAP financial information on pg 33. Non-GAAP financial measure reconciliations can be found on page 48. (3) Includes accumulated other comprehensive income, net of tax. (4) For the most current ratings information, please see the individual rating agency's website. N/R - Not Rated. 31 of 51


 
Ameriprise Financial, Inc. Ameriprise Financial Investments (1) First Quarter 2020 (in millions unless otherwise noted, unaudited) March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2020 Cash and cash equivalents $ 3,259 $ 4,302 $ 5,290 $ 3,709 $ 8,730 Investments - Ending Balances Available-for-Sale securities, net of allowance for credit losses Corporate debt securities 12,938 12,660 12,508 12,187 11,694 Residential mortgage backed securities 6,301 7,770 8,112 10,029 9,715 Commercial mortgage backed securities 4,801 5,158 5,275 5,563 5,395 Asset backed securities 1,303 1,559 1,680 2,006 2,084 Total mortgage and other asset backed securities 12,405 14,487 15,067 17,598 17,194 State and municipal obligations 1,424 1,443 1,428 1,367 1,330 US government and agency obligations 1,710 1,763 1,693 1,680 1,376 Foreign government bonds and obligations 287 289 271 271 252 Other AFS Securities - - - 26 - Total other 3,421 3,495 3,392 3,344 2,958 Total available-for-sale securities, net of allowance for credit losses 28,764 30,642 30,967 33,129 31,846 Commercial mortgage loans 2,663 2,681 2,723 2,797 2,805 Allowance for loan losses (19) (19) (19) (19) (26) Commercial mortgage loans, net 2,644 2,662 2,704 2,778 2,779 Policy loans 854 861 864 868 869 Other investments, net of allowance for credit losses 1,201 1,135 1,190 1,140 1,132 Total investments 33,463 35,300 35,725 37,915 36,626 Total cash, cash equivalents and investments $ 36,722 $ 39,602 $ 41,015 $ 41,624 $ 45,356 Net unrealized gain Available-for-Sale Securities $ 993 $ 1,551 $ 1,855 $ 1,797 $ 610 Allowance for credit losses Available-for-Sale Securities $ - $ - $ - $ - $ 13 AFS Fixed Maturity Asset Quality - % AAA 46 % 50 % 51 % 56 % 56 % AA 5 % 4 % 4 % 4 % 4 % AFS securities AA and above 51 % 54 % 55 % 60 % 60 % A 11 % 12 % 11 % 10 % 11 % BBB 35 % 31 % 31 % 28 % 26 % Below investment grade 3 % 3 % 3 % 2 % 3 % Total AFS fixed maturity asset quality - % 100 % 100 % 100 % 100 % 100 % Fair Value of Below Investment Grade Investments as a % of Total Cash and Investments 4 % 4 % 3 % 3 % 3 % (1) Investments excluding investments of CIEs. 32 of 51


 
Ameriprise Financial, Inc. Non-GAAP Financial Information Ameriprise Financial, Inc. (the Company) prepares its financial statements in accordance with accounting principles generally accepted in the United States (U.S. GAAP). This report includes information on both a U.S. GAAP and non-GAAP basis. Management believes that the presentation of these non-GAAP financial measures best reflect the underlying performance of the Company and facilitate a more meaningful trend analysis. Management uses certain of these non-GAAP measures to evaluate our financial performance on a basis comparable to that used by some securities analysts and investors. Also, certain of these non-GAAP measures are taken into consideration, to varying degrees, for purposes of business planning and analysis and certain compensation-related matters. See the reconciliations on pages 6, 15, 47 and 48. These non-GAAP measures include: • Adjusted operating earnings; • Adjusted operating earnings per diluted share; • Adjusted operating effective tax rate; • Adjusted operating return on equity excluding AOCI; • Adjusted operating total net revenues; • Basic adjusted operating earnings per share; • Net adjusted operating earnings; • Net adjusted operating revenues; • Net pretax adjusted operating margin; • Pretax adjusted operating earnings; • Pretax adjusted operating margin; • Return on equity excluding AOCI; • Total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, finance lease liabilities and equity of CIEs; • Total Ameriprise Financial long-term debt excluding fair value of hedges, unamortized discount, debt issuance costs and finance lease liabilities; • Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, finance lease liabilities and equity of CIEs; • Total equity excluding AOCI; • Total equity excluding CIEs; • Total equity excluding CIEs and AOCI Reclassification Certain prior period information has been restated to conform to current period presentation. 33 of 51


 
Ameriprise Financial, Inc. Glossary of Selected Terminology - Segments Advice & Wealth Management - This segment provides financial planning and advice, as well as full service brokerage services, primarily to retail clients through our advisors. These services are centered on long-term, personal relationships between our advisors and our clients and focus on helping clients confidently achieve their financial goals. Our advisors provide a distinctive approach to financial planning and have access to a broad selection of both affiliated and non-affiliated products to help clients meet their financial needs. A significant portion of revenues in this segment is fee- based, driven by the level of client assets, which is impacted by both market movements and net asset flows. We also earn net investment income on owned assets primarily from bank and certificate products. This segment earns revenues (distribution fees) for providing non-affiliated products and intersegment revenues (distribution fees) for providing our affiliated products and services to our retail clients. Intersegment expenses for this segment include expenses for investment management services provided by our Asset Management segment. Asset Management - This segment provides investment management advice and investment products to retail, high net worth and institutional clients on a global scale through Columbia Threadneedle Investments. We provide clients with U.S. domestic individual products through unaffiliated third-party financial institutions and through our Advice & Wealth Management segment, and we provide institutional products and services through our institutional sales force. International retail products for non-U.S. investors are primarily distributed through third-party financial institutions and unaffiliated financial advisors. Retail products include U.S. mutual funds and their non-U.S. equivalents, exchange-traded funds and variable product funds underlying insurance and annuity separate accounts. Institutional asset management services are designed to meet specific client objectives and may involve a range of products, including those that focus on traditional asset classes, separately managed accounts, individually managed accounts, collateralized loan obligations, hedge funds or alternative strategies, collective funds and property funds. Collateralized loan obligations, hedge funds or alternative strategies and certain private funds are often classified as alternative assets. Revenues in this segment are primarily earned as fees based on managed asset balances, which are impacted by market movements, net asset flows, asset allocation and product mix. We may also earn performance fees from certain accounts where investment performance meets or exceeds certain pre-identified targets. In addition our Asset Management segment provides all intercompany asset management services for Ameriprise Financial subsidiaries. The fees for such services are reflected within the Asset Management segment results through intersegment transfer pricing. Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management, Annuities and Protection segments. Annuities - This segment provides RiverSource variable and fixed annuity products to individual clients. RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York provide variable annuity products through our advisors, and our fixed annuity products are distributed through both affiliated and unaffiliated advisors and financial institutions. These products are designed to help individuals address their asset accumulation and income goals. Revenues for our variable annuity products are primarily earned as fees based on underlying account balances, which are impacted by both market movements and net asset flows. Revenues for our fixed deferred annuity products are primarily earned as net investment income on assets supporting fixed account balances, with profitability significantly impacted by the spread between net investment income earned and interest credited on the fixed account balances. We also earn net investment income on owned assets supporting reserves for immediate annuities with a non-life contingent feature and for certain guaranteed benefits offered with variable annuities and on capital supporting the business. Revenues for our immediate annuities with a life contingent feature are earned as premium revenue. Intersegment revenues for this segment reflect fees paid by our Asset Management segment for marketing support and other services provided in connection with the availability of VIT Funds under the variable annuity contracts. Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management segment, as well as expenses for investment management services provided by our Asset Management segment. Protection - This segment provides a variety of products to address the protection and risk management needs of our retail clients, including life and disability income. These products are designed to provide a lifetime of solutions that allow clients to protect income, grow assets and give to loved ones or charity. Life and disability income products are primarily provided through our advisors. We issue insurance policies through our life insurance subsidiaries. The primary sources of revenues for this segment are premiums, fees, and charges we receive to assume insurance-related risk. We earn net investment income on owned assets supporting insurance reserves and capital supporting the business. We also receive fees based on the level of assets supporting variable universal life separate account balances. This segment earns intersegment revenues from fees paid by our Asset Management segment for marketing support and other services provided in connection with the availability of VIT Funds under the variable universal life contracts. Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management segment, as well as expenses for investment management services provided by our Asset Management segment. Corporate & Other - This segment consists of net investment income or loss on corporate level assets, including excess capital held in our subsidiaries and other unallocated equity and other revenues as well as unallocated corporate expenses. It also includes the results of our closed-block long term care business and IDS Property Casualty Insurance Company which was sold on 10-1- 2019 to American Family Insurance. This segment also includes revenues and expenses of consolidated investment entities, which are excluded on an adjusted operating basis. 34 of 51


 
Ameriprise Financial, Inc. Glossary of Selected Terminology Adjusted Operating Earnings - Net income attributable to Ameriprise Financial excluding the impact of CIEs, net of tax; integration and restructuring charges, net of tax; the market impact on variable annuity guaranteed benefits, net of hedges and the related DSIC and DAC amortization, net of tax; the market impact on fixed index annuity benefits, net of hedges and the related DAC amortization, net of tax; the market impact on indexed universal life benefits, net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual, net of tax; gain or loss on disposal of business that is not considered discontinued operations, net of tax; the mean reversion related impacts, net of tax; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments, net of tax; net realized investment gains or losses, net of DSIC and DAC amortization, unearned revenue amortization and the reinsurance accrual, net of tax; and income (loss) from discontinued operations. Adjusted Operating Expenses - Total expenses excluding the impact of CIEs; integration and restructuring charges; the market impact on variable annuity guaranteed benefits, net of hedges and the related DSIC and DAC amortization; the market impact on fixed index annuity benefits, net of hedges and the related DAC amortization; the market impact on indexed universal life benefits, net of hedges and the related DAC amortization; gain or loss on disposal of business that is not considered discontinued operations; the mean reversion related impacts; net realized investment gains or losses, net of DSIC and DAC amortization. Adjusted Operating Net Investment Income - Net investment income excluding net realized investment gains (losses), market impact of hedges on investments and net investment income from consolidated investment entities. Adjusted Operating Return on Allocated Capital - Calculated using adjusted operating earnings subject to the quarterly adjusted operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator. Adjusted operating earnings for each product line are based on the target level of assets which are based on management's best estimate after considering regulatory and rating agency requirements. Adjusted Operating Total Net Revenues - Total net revenues attributable to Ameriprise Financial excluding the impact of CIEs; integration and restructuring charges; the market impact on indexed universal life benefits, net of unearned revenue amortization and the reinsurance accrual; the mean reversion related impacts; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; net realized investment gains or losses, unearned revenue amortization and the reinsurance accrual. Affiliated General Account Assets - Balance sheet assets from various affiliates managed and reported by Columbia. Allocated Capital - The internal allocation of Total Ameriprise Financial Capital, excluding accumulated other comprehensive income (loss), CIEs, and capital lease obligations, fair value of hedges, debt issuance costs and unamortized discount on Ameriprise Financial long-term debt, is based on management's best estimate of capital required to support the business. Estimates reflect the higher of regulatory or rating agency capital requirements, and include capital held for some stress contingencies. Capital is allocated to our operating segments for the purpose of measuring segment return on allocated capital. For the Corporate & Other segment, allocated capital also includes any capital available after capital has been allocated to the operating segments. Allocated capital is not adjusted for non adjusted operating items except for CIEs. Alternative Assets - Assets reported by the Company that include Hedge Funds and Collateralized Loan Obligations ("CLO"). Ameriprise Financial - Ameriprise Financial includes ownership interests in subsidiaries that are attributable, directly or indirectly, to Ameriprise Financial, Inc. and excludes noncontrolling interests. AOCI - Accumulated other comprehensive income (loss), net of tax. Assets Under Administration - Assets under administration include assets for which we provide administrative services such as client assets invested in other companies' products that we offer outside of our advisory wrap accounts. These assets include those held in clients' brokerage accounts. We generally record revenues received from administered assets as distribution fees. We do not exercise management discretion over these assets and do not earn a management fee. These assets are not reported on our Consolidated Balance Sheets. Assets under administration also include certain assets on our Consolidated Balance Sheets for which we do not provide investment management services and do not recognize management fees, such as investments in non-affiliated funds held in the separate accounts of our life insurance subsidiaries. These assets do not include assets under advisement, for which we provide model portfolios but do not have full discretionary investment authority. Assets Under Advisement - Assets under advisement include external client assets for which we provide advisory services, such as model portfolios. We earn a fee on these assets but do not have full discretionary authority. Assets Under Management - Assets under management include external client assets for which we provide investment management services, such as the assets of the Columbia Threadneedle funds, assets of institutional clients and advisory assets held in wrap accounts as well as assets managed by sub-advisors selected by us. Assets under management also include certain assets on our Consolidated Balance Sheets for which we provide investment management services and recognize management fees in our Asset Management segment, such as the assets of the general account, RiverSource Variable Product funds held in the separate accounts of our life insurance subsidiaries, and client assets of CIEs. These assets do not include assets under advisement, for which we provide advisory services such as model portfolios, but do not have full discretionary investment authority. Auto & Home Insurance - Personal auto and home protection products marketed directly to customers through marketing affiliates such as Costco Wholesale Corporation. We sell these products through our auto and home subsidiary, IDS Property Casualty Insurance Company (doing business as Ameriprise Auto & Home Insurance). Auto & Home was sold on 10-1-2019 to American Family Insurance. Cash Sales - Cash sales are the dollar value volume indicator that captures gross new cash inflows which generate product revenue streams to our company. This includes primarily "client initiated" activity that results in an incremental increase in assets or premiums in force (but doesn't need to result in time of sale revenue), or activity that doesn't increase assets or premiums in force, but generates "fee revenue". Consolidated Investment Entities ("CIEs") - CIEs include variable interest entities, such as property funds and CLOs, required to be consolidated under current accounting standards. DAC Rollforward Other - We record unrealized securities gains (losses) in accumulated other comprehensive income (loss), net of income tax provision (benefit) and net of adjustments in other asset and liability balances, such as DAC, to reflect the expected impact on their carrying values had the unrealized securities gains (losses) been realized as of the respective balance sheet dates. Deferred Acquisition Costs and Amortization - Deferred acquisition costs ("DAC") represent the direct costs of acquiring new protection and annuity contracts, principally direct sales commissions and other distribution and underwriting costs that have been deferred on the sale of life, disability income, long term care, auto, and home insurance and annuities. DAC also includes deferred direct sales commissions on certain mutual fund products. These costs are deferred to the extent they are directly related to the acquisition of new business and are recoverable from future profits. Life Insurance in Force - The total amount of all life insurance death benefits currently insured by our company. Market Impact of Hedges on Investments - The market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments. 35 of 51


 
Ameriprise Financial, Inc. Glossary of Selected Terminology Market Impact on Fixed Index Annuity Benefits - The impact of changes in financial market conditions on benefit costs associated with fixed index annuity benefits accounted for as embedded derivatives, net of changes in associated economic hedge values and net of related impacts on DAC amortization. This market impact includes the risk margin and nonperformance spread impact. Market Impact on Indexed Universal Life Benefits - The impact of changes in financial market conditions on benefit costs associated with indexed universal life benefits accounted for as embedded derivatives, net of changes in associated economic hedge values and net of related impacts on DAC amortization, unearned revenue amortization, and the reinsurance accrual. This market impact includes the risk margin and nonperformance spread impact. Market Impact on Variable Annuity Guaranteed Benefits - The impact of changes in financial market conditions on benefit costs associated with variable annuity guaranteed living benefits accounted for as embedded derivatives, net of changes in economic hedge values and unhedged items including the difference between assumed and actual underlying separate account investment performance, fixed income credit exposures, transaction costs and certain policyholder contract elections, net of related impacts on DAC and DSIC amortization. The market impact includes the risk margin and nonperformance spread impact. Mean Reversion Related Impacts - The impact on variable annuity and variable universal life for the difference between assumed and updated separate account investment performance on DAC, DSIC, and unearned revenue amortization, reinsurance accrual, and additional insurance benefit reserves. The updated separate account investment performance includes actual investment performance in the current period and the impact of changes in financial market conditions on the assumptions for future investment performance. Net Adjusted Operating Earnings - Asset management segment pretax adjusted operating earnings less adjusted operating net investment income plus amortization of intangibles. Net Adjusted Operating Revenues - Asset management segment adjusted operating total net revenues less pass through distribution revenue and subadvisory and other pass through revenues. Net Amount at Risk - Life insurance in force less policyholder reserves net of reinsurance. Net Flows - Sales less redemptions and miscellaneous flows which may include reinvested dividends. Net New Flows - Retail fund inflows less outflows. Net Pretax Adjusted Operating Margin - An internal measure designed to calculate adjusted operating margins on a basis comparable to other asset management companies. A ratio representing net adjusted operating earnings as a percentage of net adjusted operating revenues for the asset management segment. Net Realized Investment Gains (Losses) - The net of realized investment gains and realized investment losses, net of DSIC and DAC amortization, unearned revenue amortization and the reinsurance accrual. Pretax Adjusted Operating Earnings - Income attributable to Ameriprise Financial excluding the impact of CIEs; integration and restructuring charges; the market impact on variable annuity guaranteed benefits, net of hedges and the related DSIC and DAC amortization; the market impact on fixed index annuity benefits, net of hedges and the related DAC amortization; the market impact on indexed universal life benefits, net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the mean reversion related impacts; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; net realized investment gains or losses, net of DSIC and DAC amortization, unearned revenue amortization and the reinsurance accrual and income (loss) from discontinued operations. Pretax Adjusted Operating Margin - A ratio representing pretax adjusted operating earnings as a percentage of adjusted operating total net revenues. Pretax Income (Loss) Margin - A ratio representing pretax income (loss) as a percentage of total net revenues. Risk Margin and Nonperformance Spread Impact - The portion of the market impact on variable annuity guaranteed benefits, fixed index annuity benefits and indexed universal life benefits related to liability valuation adjustments made in accordance with Financial Accounting Standards Board Accounting Standards Codification 820, Fair Value Measurements and Disclosures ("ASC 820") that management considers to be non-economic, including the impact of discounting projected benefits at a rate reflecting a current estimate of RiverSource Life's nonperformance spread, net of related impacts on DAC, DSIC and unearned revenue as well as a reinsurance accrual for indexed universal life. Separate Account - Represents assets and liabilities that are maintained and established primarily for the purpose of funding variable annuity and insurance products. The assets of the separate account are only available to fund the liabilities of the variable annuity contract holders and others with contracts requiring premiums or other deposits to the separate account. Clients elect to invest premiums in stock, bond and/or money market funds depending on their risk tolerance. All investment performance, net of fees, is passed through to the client. Threadneedle - Threadneedle Asset Management Holdings Sarl is a holding company for the London-based Threadneedle companies, which provide investment management products and services. Total Ameriprise Financial Capital - Total equity plus total Ameriprise Financial long-term debt. Total Ameriprise Financial capital is also presented excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs. Total Ameriprise Financial Long-term Debt to Total Ameriprise Financial Capital Ratio - A ratio comprised of total Ameriprise Financial long-term debt divided by Ameriprise Financial capital. We also present total Ameriprise Financial long-term debt to total Ameriprise Financial capital ratios excluding fair value of hedges, unamortized discount, debt issuance costs, finance lease liabilities and equity of consolidated investment entities. Wrap Accounts - Wrap accounts enable our clients to purchase other securities such as mutual funds in connection with fee-based “wrap account” programs or services. We offer clients the opportunity to select products that include affiliated and non-affiliated funds. We currently offer both discretionary and non-discretionary wrap accounts. In a discretionary wrap account, an unaffiliated investment advisor or our investment management subsidiary, Columbia Management Investment Advisers, LLC, chooses the underlying investments in the portfolio on behalf of the client. In a non-discretionary wrap account, the client chooses the underlying investments in the portfolio based, to the extent the client elects, in part or whole on the recommendations of their financial advisor. Investors in our wrap accounts generally pay a fee based on the advisory assets held in their wrap accounts. These investors also pay any related fees or costs included in the underlying securities held in that account, such as underlying mutual fund operating expenses. 36 of 51


 
Exhibit A Statistical Supplement Package (unaudited) First Quarter 2020 Disclosed Items 37 of 51


 
Ameriprise Financial, Inc. Disclosed Items 1 Qtr 2020 Excluded from Adjusted Operating Earnings Advice & Wealth Asset Management Annuities Protection Corporate and Eliminations Management Market Impact on VA Mean Reversion Market Impact on Guaranteed Benefits Mean Reversion Market Impact on Securities Securities Related Fixed Index & SSA/SVA Market Securities Related Securities Indexed Universal Securities Integration/Restructuring (1) (1) (2) (3) (4) (1) (2) (1) (5) (6) (1) (7) (in millions, unaudited) Gains/(Losses) Gains/(Losses) Impacts Annuity Benefits Adjustment Gains/(Losses) Impacts Gains/(Losses) Life Benefits CIEs Gains/(Losses) Charges Revenues Management and financial advice fees $ - $ - $ - $ - $ - $ - $ - $ - $ - $ (1) $ - $ - Distribution fees - - - - - - - - - - - - Net investment income (1) (1) - - - (11) - (5) - 17 (1) - Premiums - - - - - - - - - - - - Other revenues - - - - - - (1) (1) 55 - - - Total revenues (1) (1) - - - (11) (1) (6) 55 16 (1) - Banking and deposit interest expense - - - - - - - - - - - - Total net revenues (1) (1) - - - (11) (1) (6) 55 16 (1) - Expenses Distribution expenses - - - - - - - - - - - - Interest credited to fixed accounts - - - (4) (3) - - - (68) - - - Benefits, claims, losses and settlement expenses - - 24 - (2,070) - - - - - - - Amortization of deferred acquisition costs - - 31 1 384 - 5 - 32 - - - Interest and debt expense - - - - - - - - - 17 - - General and administrative expense - - - - - - - - - 1 - 1 Total expenses - - 55 (3) (1,689) - 5 - (36) 18 - 1 Pretax segment income (loss) $ (1) $ (1) $ (55) $ 3 $ 1,689 $ (11) $ (6) $ (6) $ 91 $ (2) $ (1) $ (1) Included in Adjusted Operating Earnings Asset Management Performance Fee (8) (in millions, unaudited) Correction Revenues Management and financial advice fees $ (19) Distribution fees - Net investment income - Premiums - Other revenues - Gain on Disposal of Business - Total revenues (19) Banking and deposit interest expense - Adjusted operating total net revenues (19) Expenses Distribution expenses - Interest credited to fixed accounts - Benefits, claims, losses and settlement expenses - Amortization of deferred acquisition costs - Interest and debt expense - General and administrative expense (4) Adjusted operating expenses (4) Pretax adjusted operating earnings $ (15) Tax benefit (expense) (1) Pretax net realized investment gains/(losses) on Available-for-Sale securities and other securities (2) Increase in DAC and DSIC amortization and increase in reserve accrual for SOP 03-1 reserves for living benefit guarantees (3) Fixed index annuity benefit impacts include: $4 million net expense related to hedged fixed index annuity benefits $1 million increase in DAC amortization resulting from hedged fixed index annuity benefits (4) Variable annuity guaranteed benefits & SSA/SVA Market impacts include: $3 million net benefit in the Interest credited to fixed accounts $2,070 million net benefit related to hedged variable annuity benefits $384 million increase in DAC and DSIC amortization resulting from hedged benefits (5) Indexed universal life benefit impacts include: $68 million net benefit related to hedged indexed universal life benefits $32 million increase in DAC amortization resulting from hedged indexed universal life benefits $55 million increase in unearned revenue reserve amortization and reinsurance accrual from hedged indexed universal life benefits (6) Reflects revenues and expenses of Consolidated Investment Entities (7) Restructing charges related to the sale of IDS Property Casualty Insurance Company (doing business as Ameriprise Auto & Home Insurance) (8) Performance fee correction from prior periods for the UK property funds. 38 of 51


 
Ameriprise Financial, Inc. Disclosed Items 4 Qtr 2019 Excluded from Adjusted Operating Earnings Annuities Protection Corporate and Eliminations Mean Reversion Market Impact on Mean Reversion Market Impact on Gain on Market Impact Related VA Guaranteed Securities Related Securities Indexed Universal the Disposal of Hedges Integration/Restructuring (1) (2) (3) (1) (3) (4) (5) (6) (7) (8) (in millions, unaudited) Impacts Benefits Gains/(Losses) Impacts Gains/(Losses) Life Benefits of Business CIEs on Investments Charges Revenues Management and financial advice fees $ - $ - $ - $ - $ - $ - $ - $ (1) $ - $ - Distribution fees - - - - - - - - - - Net investment income - - (1) - (1) - - 22 2 - Premiums - - - - - - - - - - Other revenues - - - - - 8 - - - - Gain on disposal of business - - - - - - 213 - - - Total revenues - - (1) - (1) 8 213 21 2 - Banking and deposit interest expense - - - - - - - - - - Total net revenues - - (1) - (1) 8 213 21 2 - Expenses Distribution expenses - - - - - - - - - - Interest credited to fixed accounts - - - - - (13) - - - - Benefits, claims, losses and settlement expenses (24) 433 - - - - - - - - Amortization of deferred acquisition costs (14) (58) - (1) - 4 - - - - Interest and debt expense - - - - - - - 20 - - General and administrative expense - - - - - - - - - 6 Total expenses (38) 375 - (1) - (9) - 20 - 6 Pretax segment income (loss) $ 38 $ (375) $ (1) $ 1 $ (1) $ 17 $ 213 $ 1 $ 2 $ (6) Included in Adjusted Operating Earnings Corporate Consolidated Affordable Housing Excess Tax Benefits Investment from Share- (in millions, unaudited) Severance Adjustment (9) Based Payments (10) Revenues Management and financial advice fees $ - $ - $ - Distribution fees - - - Net investment income - (25) - Premiums - - - Other revenues - - - Gain on Disposal of Business - - - Total revenues - (25) - Banking and deposit interest expense - - - Adjusted operating total net revenues - (25) - Expenses Distribution expenses - - - Interest credited to fixed accounts - - - Benefits, claims, losses and settlement expenses - - - Amortization of deferred acquisition costs - - - Interest and debt expense - - - General and administrative expense 11 - - Adjusted operating expenses 11 - - Pretax adjusted operating earnings $ (11) $ (25) $ - Tax benefit (expense) $ 3 (1) Increase in DAC and DSIC amortization and increase in reserve accrual for SOP 03-1 reserves for living benefit guarantees (2) Variable annuity guaranteed benefit impacts include: $433 million increase related to hedged variable annuity benefits $58 million net benefit in DAC and DSIC amortization resulting from hedged benefits (3) Pretax net realized investment gains/(losses) on Available-for-Sale securities and other securities (4) Indexed universal life benefit impacts include: $13 million net benefit related to hedged indexed universal life benefits $4 million increase in DAC amortization resulting from hedged indexed universal life benefits $8 million increase in unearned revenue reserve amortization and reinsurance accrual from hedged indexed universal life benefits (5) Reflects gain on the sale of Auto and Home (6) Reflects revenues and expenses of Consolidated Investment Entities (7) The market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments (8) Restructing charges related to the sale of IDS Property Casualty Insurance Company (doing business as Ameriprise Auto & Home Insurance) (9) Adjustment for an affordable housing investment to align it with the remaining tax benefit cash flows (10) Excess tax benefits (deficiencies) related to share-based compensation 39 of 51


 
Ameriprise Financial, Inc. Disclosed Items 3 Qtr 2019 Excluded from Adjusted Operating Earnings Annuities Protection Corporate and Eliminations Mean Reversion Market Impact on Market Impact on Mean Reversion Market Impact on Market Impact Related Fixed Index VA Guaranteed Securities Related Securities Indexed Universal Securities of Hedges Integration/Restructuring (1) (2) (3) (4) (1) (4) (5) (6) (4) (7) (8) (in millions, unaudited) Impacts Annuity Benefits Benefits Gains/(Losses) Impacts Gains/(Losses) Life Benefits CIEs Gains/(Losses) on Investments Charges Revenues Management and financial advice fees $ - $ - $ - $ - $ - $ - $ - $ (2) $ - $ - $ - Distribution fees - - - - - - - - - - - Net investment income - - - (4) - (10) - 24 4 (9) - Premiums - - - - - - - - - - - Other revenues - - - - - (3) 17 - - - - Total revenues - - - (4) - (13) 17 22 4 (9) - Banking and deposit interest expense - - - - - - - - - - - Total net revenues - - - (4) - (13) 17 22 4 (9) - Expenses Distribution expenses - - - - - - - - - - - Interest credited to fixed accounts - 1 - - - - (40) - - - - Benefits, claims, losses and settlement expenses 25 - (6) - - - - - - - - Amortization of deferred acquisition costs 10 - 8 - 1 (2) 9 - - - - Interest and debt expense - - - - - - - 22 - - - General and administrative expense - - - - - - - 1 - - 2 Total expenses 35 1 2 - 1 (2) (31) 23 - - 2 Pretax segment income (loss) $ (35) $ (1) $ (2) $ (4) $ (1) $ (11) $ 48 $ (1) $ 4 $ (9) $ (2) Included in Adjusted Operating Earnings Annuities Protection Corporate Consolidated Valuation Valuation Auto & Home Valuation Gain on Affordable Housing Excess Tax Benefits Assumption & Assumption & Catastrophe Assumption & the sale of Investment from Share- (9) (9) (10) (9) (11) (12) (13) (in millions, unaudited) Model Changes Model Changes Losses Model Changes Real Estate Adjustment Based Payments Revenues Management and financial advice fees $ - $ - $ - $ - $ - $ - $ - Distribution fees - - - - - - - Net investment income - - - - - (10) - Premiums - - - - - - - Other revenues - 5 - - 7 - - Total revenues - 5 - - 7 (10) - Banking and deposit interest expense - - - - - - - Adjusted operating total net revenues - 5 - - 7 (10) - Expenses Distribution expenses - - - - - - - Interest credited to fixed accounts - - - - - - - Benefits, claims, losses and settlement expenses (12) 16 33 8 - - - Amortization of deferred acquisition costs 11 2 - - - - - Interest and debt expense - - - - - - - General and administrative expense - - - - - - - Adjusted operating expenses (1) 18 33 8 - - - Pretax adjusted operating earnings $ 1 $ (13) $ (33) $ (8) $ 7 $ (10) $ - Tax benefit (expense) $ 4 (1) Increase in DAC and DSIC amortization and increase in reserve accrual for SOP 03-1 reserves for living benefit guarantees (2) Fixed index annuity benefit impacts include: $1 million net expense related to hedged fixed index annuity benefits $0 million decrease in DAC amortization resulting from hedged fixed index annuity benefits (3) Variable annuity guaranteed benefit impacts include: $6 million net benefit related to hedged variable annuity benefits $8 million increase in DAC and DSIC amortization resulting from hedged benefits (4) Pretax net realized investment gains/(losses) on Available-for-Sale securities and other securities (5) Indexed universal life benefit impacts include: $40 million net benefit related to hedged indexed universal life benefits $9 million increase in DAC amortization resulting from hedged indexed universal life benefits $17 million increase in unearned revenue reserve amortization and reinsurance accrual from hedged indexed universal life benefits (6) Reflects revenues and expenses of Consolidated Investment Entities (7) The market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments (8) Restructing charges related to the pending sale of IDS Property Casualty Insurance Company (doing business as Ameriprise Auto & Home Insurance) (9) Net pretax impact of model changes and the annual review/updating of valuation assumptions, including the annual long term care review (10) Total auto and home catastrophe losses (11) Reflects net proceeds of gain on the sale of the Oakridge facility (12) Adjustment for an affordable housing investment to align it with the remaining tax benefit cash flows (13) Excess tax benefits (deficiencies) related to share-based compensation 40 of 51


 
Ameriprise Financial, Inc. Disclosed Items 2 Qtr 2019 Excluded from Adjusted Operating Earnings Annuities Protection Corporate and Eliminations Mean Reversion Market Impact on Market Impact on Mean Reversion Market Impact on Market Impact Related Fixed Index VA Guaranteed Related Securities Indexed Universal Securities of Hedges Integration/Restructuring (1) (2) (3) (1) (4) (5) (6) (4) (7) (8) (in millions, unaudited) Impacts Annuity Benefits Benefits Impacts Gains/(Losses) Life Benefits CIEs Gains/(Losses) on Investments Charges Revenues Management and financial advice fees $ - $ - $ - $ - $ - $ - $ (1) $ - $ - $ - Distribution fees - - - - - - - - - - Net investment income - - - - 1 - 25 (1) (18) - Premiums - - - - - - - - - - Other revenues - - - - - (8) - - - - Total revenues - - - - 1 (8) 24 (1) (18) - Banking and deposit interest expense - - - - - - - - - - Total net revenues - - - - 1 (8) 24 (1) (18) - Expenses Distribution expenses - - - - - - - - - - Interest credited to fixed accounts - (1) - - - 23 - - - - Benefits, claims, losses and settlement expenses (11) - 64 - - - - - - - Amortization of deferred acquisition costs (6) - (4) (1) - (5) - - - - Interest and debt expense - - - - - - 22 - - - General and administrative expense - - - - - - 1 - - 2 Total expenses (17) (1) 60 (1) - 18 23 - - 2 Pretax segment income (loss) $ 17 $ 1 $ (60) $ 1 $ 1 $ (26) $ 1 $ (1) $ (18) $ (2) Included in Adjusted Operating Earnings Corporate Consolidated Auto & Home Excess Tax Benefits Catastrophe from Share- (9) (10) (in millions, unaudited) Losses Based Payments Revenues Management and financial advice fees $ - $ - Distribution fees - - Net investment income - - Premiums - - Other revenues - - Total revenues - - Banking and deposit interest expense - - Adjusted operating total net revenues - - Expenses Distribution expenses - - Interest credited to fixed accounts - - Benefits, claims, losses and settlement expenses 18 - Amortization of deferred acquisition costs - - Interest and debt expense - - General and administrative expense - - Adjusted operating expenses 18 - Pretax adjusted operating earnings $ (18) $ - Tax benefit (expense) $ 3 (1) Decrease in DAC and DSIC amortization and decrease in reserve accrual for SOP 03-1 reserves for living benefit guarantees (2) Fixed index annuity benefit impacts include: $1 million net benefit related to hedged fixed index annuity benefits $0 million decrease in DAC amortization resulting from hedged fixed index annuity benefits (3) Variable annuity guaranteed benefit impacts include: $64 million net expense related to hedged variable annuity benefits $4 million decrease in DAC and DSIC amortization resulting from hedged benefits (4) Pretax net realized investment gains/(losses) on Available-for-Sale securities and other securities (5) Indexed universal life benefit impacts include: $23 million net expense related to hedged indexed universal life benefits $5 million decrease in DAC amortization resulting from hedged indexed universal life benefits $8 million decrease in unearned revenue reserve amortization and reinsurance accrual from hedged indexed universal life benefits (6) Reflects revenues and expenses of Consolidated Investment Entities (7) The market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments (8) Restructing charges related to the pending sale of IDS Property Casualty Insurance Company (doing business as Ameriprise Auto & Home Insurance) (9) Total auto and home catastrophe losses (10) Excess tax benefits (deficiencies) related to share-based compensation 41 of 51


 
Ameriprise Financial, Inc. Disclosed Items 1 Qtr 2019 Excluded from Adjusted Operating Earnings Asset Management Annuities Protection Corporate and Eliminations Mean Reversion Market Impact on Mean Reversion Market Impact on Market Impact Securities Related Securities VA Guaranteed Related Securities Indexed Universal of Hedges Integration/Restructuring (1) (2) (1) (3) (2) (1) (4) (5) (6) (7) (in millions, unaudited) Gains/(Losses) Impacts Gains/(Losses) Benefits Impacts Gains/(Losses) Life Benefits CIEs on Investments Charges Revenues Management and financial advice fees $ - $ - $ - $ - $ - $ - $ - $ (2) $ - $ - Distribution fees - - - - - - - - - - Net investment income (1) - 12 - - (2) - 23 (10) (3) Premiums - - - - - - - - - - Other revenues - - - - - - (17) - - - Total revenues (1) - 12 - - (2) (17) 21 (10) (3) Banking and deposit interest expense - - - - - - - - - - Total net revenues (1) - 12 - - (2) (17) 21 (10) (3) Expenses Distribution expenses - - - - - - - - - - Interest credited to fixed accounts - - - - - - 43 - - - Benefits, claims, losses and settlement expenses - (16) - 170 - - - - - - Amortization of deferred acquisition costs - (18) - (28) (2) - (9) - - - Interest and debt expense - - - - - - - 20 - - General and administrative expense - - - - - - - 1 - 4 Total expenses - (34) - 142 (2) - 34 21 - 4 Pretax segment income (loss) $ (1) $ 34 $ 12 $ (142) $ 2 $ (2) $ (51) $ - $ (10) $ (7) Included in Adjusted Operating Earnings Corporate Consolidated Auto & Home Excess Tax Benefits Catastrophe from Share- (8) (9) (in millions, unaudited) Losses Based Payments Revenues Management and financial advice fees $ - $ - Distribution fees - - Net investment income - - Premiums - - Other revenues - - Total revenues - - Banking and deposit interest expense - - Adjusted operating total net revenues - - Expenses Distribution expenses - - Interest credited to fixed accounts - - Benefits, claims, losses and settlement expenses 14 - Amortization of deferred acquisition costs - - Interest and debt expense - - General and administrative expense - - Adjusted operating expenses 14 - Pretax adjusted operating earnings $ (14) $ - Tax benefit (expense) $ 5 (1) Pretax net realized investment gains/(losses) on Available-for-Sale securities and other securities (2) Decrease in DAC and DSIC amortization and decrease in reserve accrual for SOP 03-1 reserves for living benefit guarantees (3) Variable annuity guaranteed benefit impacts include: $170 million net expense related to hedged variable annuity benefits $28 million decrease in DAC and DSIC amortization resulting from hedged benefits (4) Indexed universal life benefit impacts include: $43 million net expense related to hedged indexed universal life benefits $9 million decrease in DAC amortization resulting from hedged indexed universal life benefits $17 million decrease in unearned revenue reserve amortization and reinsurance accrual from hedged indexed universal life benefits (5) Reflects revenues and expenses of Consolidated Investment Entities (6) The market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments (7) Restructing charges related to the pending sale of IDS Property Casualty Insurance Company (doing business as Ameriprise Auto & Home Insurance) (8) Total auto and home catastrophe losses (9) Excess tax benefits (deficiencies) related to share-based compensation 42 of 51


 
Exhibit B Statistical Supplement Package (unaudited) First Quarter 2020 Corporate & Other Segment Details 43 of 51


 
Ameriprise Financial, Inc. Corporate Excluding Long Term Care and Auto & Home First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Corporate Excluding Long Term Care Adjusted Operating Income Statements Revenues Management and financial advice fees $ - $ (1) $ 1 $ - $ - $ - $ - $ - - $ - - $ - - Distribution fees - - - - - - - - - - - - - Net investment income (14) (10) (19) (26) (10) (14) (10) 4 29 % 4 29 % 16 62 % Premiums 1 - (1) (1) - 1 - (1) # (1) # 1 # Other revenues 1 2 9 5 6 1 6 5 # 5 # 1 20 % Total revenues (12) (9) (10) (22) (4) (12) (4) 8 67 % 8 67 % 18 82 % Banking and deposit interest expense 2 2 1 3 1 2 1 (1) (50)% (1) (50)% (2) (67)% Adjusted operating total net revenues (14) (11) (11) (25) (5) (14) (5) 9 64 % 9 64 % 20 80 % Expenses Distribution expenses - - - - - - - - - - - - - Interest credited to fixed accounts - - - - - - - - - - - - - Benefits, claims, losses and settlement expenses - - - - - - - - - - - - - Amortization of deferred acquisition costs - (1) 1 - - - - - - - - - - Interest and debt expense 6 9 8 10 9 6 9 3 50 % 3 50 % (1) (10)% General and administrative expense 58 60 53 68 38 58 38 (20) (34)% (20) (34)% (30) (44)% Adjusted operating expenses 64 68 62 78 47 64 47 (17) (27)% (17) (27)% (31) (40)% Pretax adjusted operating earnings (loss) $ (78) $ (79) $ (73) $ (103) $ (52) $ (78) $ (52) $ 26 33 % $ 26 33 % $ 51 50 % # Variance equal to or greater than 100%. 44 of 51


 
Ameriprise Financial, Inc. Long Term Care First Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Long Term Care Adjusted Operating Income Statements Revenues Management and financial advice fees $ - $ - $ - $ - $ - $ - $ - $ - - $ - - $ - - Distribution fees - - - - - - - - - - - - - Net investment income 43 42 43 41 42 43 42 (1) (2)% (1) (2)% 1 2 % Premiums 25 26 26 28 25 25 25 - - - - (3) (11)% Other revenues - - - - - - - - - - - - - Total revenues 68 68 69 69 67 68 67 (1) (1)% (1) (1)% (2) (3)% Banking and deposit interest expense - - - - - - - - - - - - - Adjusted operating total net revenues 68 68 69 69 67 68 67 (1) (1)% (1) (1)% (2) (3)% Expenses Distribution expenses (3) (2) (3) (4) (2) (3) (2) 1 33 % 1 33 % 2 50 % Interest credited to fixed accounts - - - - - - - - - - - - - Benefits, claims, losses and settlement expenses 56 56 70 64 57 56 57 1 2 % 1 2 % (7) (11)% Amortization of deferred acquisition costs - - - - - - - - - - - - - Interest and debt expense 3 4 3 3 3 3 3 - - - - - - General and administrative expense 6 6 7 8 7 6 7 1 17 % 1 17 % (1) (13)% Adjusted operating expenses 62 64 77 71 65 62 65 3 5 % 3 5 % (6) (8)% Pretax adjusted operating earnings (loss) $ 6 $ 4 $ (8) $ (2) $ 2 $ 6 $ 2 $ (4) (67)% $ (4) (67)% $ 4 # Net Policyholder Long Term Care Reserves (1) Active Life Reserves $ 2,111 $ 2,182 $ 2,245 $ 2,256 $ 2,061 $ 2,111 $ 2,061 $ (50) (2)% $ (50) (2)% $ (195) (9)% Disabled Life Reserves 540 549 558 565 574 540 574 34 6 % 34 6 % 9 2 % Total net policyholder long term care reserves $ 2,651 $ 2,731 $ 2,803 $ 2,821 $ 2,635 $ 2,651 $ 2,635 $ (16) (1)% $ (16) (1)% $ (186) (7)% (1) SFAS 115 requires GAAP reserves to include all unrealized gains on available for sale securities in the portfolio to be reported as if they were realized on the last day of the accounting period with all financial impacts flowing through other comprehensive income. # Variance equal to or greater than 100%. 45 of 51


 
Exhibit C Statistical Supplement Package (unaudited) First Quarter 2020 Non-GAAP Financial Measure Reconciliations 46 of 51


 
Ameriprise Financial, Inc. Non-GAAP Financial Measure Reconciliations First Quarter 2020 (in millions unless otherwise noted, unaudited) Year-to-date 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Return on Equity Net income (last twelve months) $ 1,899 $ 1,929 $ 1,969 $ 1,893 $ 3,534 $ 1,899 $ 3,534 Less adjustments (1) (229) (229) (214) (297) 1,175 (229) 1,175 Adjusted operating earnings (last twelve months) $ 2,128 $ 2,158 $ 2,183 $ 2,190 $ 2,359 $ 2,128 $ 2,359 Total Ameriprise Financial shareholders' equity (five point quarter end average) $ 5,704 $ 5,742 $ 5,815 $ 5,837 $ 6,058 $ 5,704 $ 6,058 Less AOCI, net of tax (five point quarter end average) (137) (82) 21 122 121 (137) 121 Total Ameriprise Financial shareholders' equity excluding AOCI (five point quarter end average) 5,841 5,824 5,794 5,715 5,937 5,841 5,937 Less equity impacts attributable to the consolidated investment entities (five point quarter end average) 1 1 1 1 1 1 1 Adjusted operating equity (five point quarter end average) $ 5,840 $ 5,823 $ 5,793 $ 5,714 $ 5,936 $ 5,840 $ 5,936 Return on equity excluding AOCI 32.5% 33.1% 34.0% 33.1% 59.5% 32.5% 59.5% Adjusted operating return on equity excluding AOCI 36.4% 37.1% 37.7% 38.3% 39.7% 36.4% 39.7% Effective Tax Rate Pretax income $ 470 $ 587 $ 641 $ 534 $ 2,351 $ 470 $ 2,351 Less adjustments (2) (165) (86) (14) (324) 1,699 (165) 1,699 Pretax adjusted operating earnings $ 635 $ 673 $ 655 $ 858 $ 652 $ 635 $ 652 Income tax provision $ 75 $ 95 $ 98 $ 71 $ 315 $ 75 $ 315 Adjusted operating income tax provision $ 110 $ 113 $ 101 $ 94 $ (42) $ 110 $ (42) Effective tax rate 15.9% 16.1% 15.4% 13.2% 13.4% 15.9% 13.4% Adjusted operating effective tax rate 17.3% 16.8% 15.4% 14.6% (6.4)% 17.3% (6.4)% (1) Adjustments reflect the trailing twelve months' sum of after-tax net realized investment gains/losses, net of DSIC and DAC amortization, unearned revenue amortization and the reinsurance accrual; mean reversion related impacts; gain or loss on disposal of business that is not considered discontinued operations; the market impact on variable annuity guaranteed benefits, net of hedges and the related DSIC and DAC amortization; the market impact on indexed universal life benefits, net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the market impact on fixed index annuity benefits, net of hedges and the related DAC amortization; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; integration/restructuring charges; and net income (loss) from consolidated investment entities. After-tax is calculated using the statutory tax rate of 21%. (2) Adjustments reflect net realized investment gains/losses, net of DSIC and DAC amortization, unearned revenue amortization and the reinsurance accrual; mean reversion related impacts; gain or loss on disposal of business that is not considered discontinued operations; the market impact on variable annuity guaranteed benefits net of hedges and the related DSIC and DAC amortization; the market impact on indexed universal life benefits, net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the market impact on fixed index annuity benefits, net of hedges and the related DAC amortization; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; integration/restructuring charges; and the impact of consolidated investment entities. 47 of 51


 
Ameriprise Financial, Inc. Non-GAAP Financial Measure Reconciliations First Quarter 2020 (in millions unless otherwise noted, unaudited) March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2020 Long-term Debt Summary Senior notes (1) $ 3,350 $ 3,050 $ 3,050 $ 3,050 $ 2,300 Finance lease liabilities 55 64 61 57 54 Fair value of hedges, unamortized discount and debt issuance costs (11) (10) (10) (10) (10) Total Ameriprise Financial long-term debt 3,394 3,104 3,101 3,097 2,344 Less fair value of hedges, unamortized discount and debt issuance costs (11) (10) (10) (10) (10) Less finance lease liabilities 55 64 61 57 54 Total Ameriprise Financial long-term debt excluding fair value of hedges, unamortized discount, debt issuance costs and finance lease liabilities $ 3,350 $ 3,050 $ 3,050 $ 3,050 $ 2,300 Equity Summary Total equity $ 5,843 $ 6,030 $ 5,997 $ 5,729 $ 6,693 Less equity of consolidated investment entities 1 1 - 1 2 Total equity excluding CIEs $ 5,842 $ 6,029 $ 5,997 $ 5,728 $ 6,691 Capital Summary Total Ameriprise Financial long-term debt $ 3,394 $ 3,104 $ 3,101 $ 3,097 $ 2,344 Total equity 5,843 6,030 5,997 5,729 6,693 Total Ameriprise Financial capital 9,237 9,134 9,098 8,826 9,037 Less equity of consolidated investment entities 1 1 - 1 2 Less fair value of hedges, unamortized discount and debt issuance costs (11) (10) (10) (10) (10) Less finance lease liabilities 55 64 61 57 54 Total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, finance lease liabilities and equity of CIEs $ 9,192 $ 9,079 $ 9,047 $ 8,778 $ 8,991 Total Ameriprise Financial long-term debt to total Ameriprise Financial capital (1) 36.7% 34.0% 34.1% 35.1% 25.9% Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, finance lease liabilities and equity of CIEs (1) 36.4% 33.6% 33.7% 34.7% 25.6% Total equity $ 5,843 $ 6,030 $ 5,997 $ 5,729 $ 6,693 AOCI 35 269 337 262 (295) Retained earnings attributable to CIEs 1 1 1 1 (1) AOCI attributable to CIEs - - (1) - 3 Total equity $ 5,843 $ 6,030 $ 5,997 $ 5,729 $ 6,693 Less AOCI 35 269 337 262 (295) Total equity excluding AOCI $ 5,808 $ 5,761 $ 5,660 $ 5,467 $ 6,988 Total equity $ 5,843 $ 6,030 $ 5,997 $ 5,729 $ 6,693 Less retained earnings attributable to CIEs 1 1 1 1 (1) Less AOCI 35 269 337 262 (295) Total equity excluding CIEs and AOCI $ 5,807 $ 5,760 $ 5,659 $ 5,466 $ 6,989 (1) The first quarter of 2020 does not include $500 million of debt issuance that settled on April 2, 2020. 48 of 51


 
Exhibit D Statistical Supplement Package (unaudited) First Quarter 2020 Revenue Detail by Product 49 of 51


 
Ameriprise Financial, Inc. Advice & Wealth Management Segment Revenue From Contracts With Customers First Quarter 2020 Prior Year Comparisons (in millions, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Revenues Management and financial advice fees: Asset management fees: Retail $ - $ - $ - $ - $ - $ - $ - $ - - $ - - $ - - Institutional - - - - - - - - - - - - - Advisory fees 725 779 813 839 854 725 854 129 18 % 129 18 % 15 2 % Financial planning fees 69 84 80 97 81 69 81 12 17 % 12 17 % (16) (16)% Transaction and other fees 84 91 91 89 89 84 89 5 6 % 5 6 % - - Total management and financial advice fees 878 954 984 1,025 1,024 878 1,024 146 17 % 146 17 % (1) - Distribution Fees: Mutual funds 171 182 183 190 184 171 184 13 8 % 13 8 % (6) (3)% Insurance and annuity 205 218 226 226 208 205 208 3 1 % 3 1 % (18) (8)% Other products 185 180 169 146 156 185 156 (29) (16)% (29) (16)% 10 7 % Total distribution fees 561 580 578 562 548 561 548 (13) (2)% (13) (2)% (14) (2)% Other revenues 45 49 40 43 47 45 47 2 4 % 2 4 % 4 9 % Total revenue from contracts with customers 1,484 1,583 1,602 1,630 1,619 1,484 1,619 135 9 % 135 9 % (11) (1)% Revenue from other sources 105 106 115 110 101 105 101 (4) (4)% (4) (4)% (9) (8)% Total segment gross revenues 1,589 1,689 1,717 1,740 1,720 1,589 1,720 131 8 % 131 8 % (20) (1)% Banking and deposit interest expense 35 36 35 30 25 35 25 (10) (29)% (10) (29)% (5) (17)% Total segment net revenues 1,554 1,653 1,682 1,710 1,695 1,554 1,695 141 9 % 141 9 % (15) (1)% Less: intersegment revenues 219 230 240 235 222 219 222 3 1 % 3 1 % (13) (6)% Total net revenues $ 1, 335 $ 1,423 $ 1,442 $ 1,475 $ 1,473 $ 1,335 $ 1,473 $ 138 10 % $ 138 10 % $ (2) - 50 of 51


 
Ameriprise Financial, Inc. Asset Management Segment Revenue From Contracts With Customers First Quarter 2020 Prior Year Comparisons (in millions, unaudited) Year-to-Date Qtr Chg - 1Q YTD Chg - 1Q Seq Qtr Chg - 1Q 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Revenues Management and financial advice fees: Asset management fees: Retail $ 429 $ 442 $ 448 $ 464 $ 447 $ 429 $ 447 $ 18 4 % $ 18 4 % $ (17) (4)% Institutional 104 111 135 145 85 104 85 (19) (18)% (19) (18)% (60) (41)% Advisory fees - - - - - - - - - - - - - Financial planning fees - - - - - - - - - - - - - Transaction and other fees 46 47 48 48 47 46 47 1 2 % 1 2 % (1) (2)% Total management and financial advice fees 579 600 631 657 579 579 579 - - - - (78) (12)% Distribution Fees: Mutual funds 57 60 59 61 60 57 60 3 5 % 3 5 % (1) (2)% Insurance and annuity 41 43 43 44 43 41 43 2 5 % 2 5 % (1) (2)% Other products - - - - - - - - - - - - - Total distribution fees 98 103 102 105 103 98 103 5 5 % 5 5 % (2) (2)% Other revenues 1 3 - - 1 1 1 - - - - 1 - Total revenue from contracts with customers 678 706 733 762 683 678 683 5 1 % 5 1 % (79) (10)% Revenue from other sources 11 7 8 8 3 11 3 (8) (73)% (8) (73)% (5) (63)% Total segment gross revenues 689 713 741 770 686 689 686 (3) - (3) - (84) (11)% Banking and deposit interest expense - 1 (1) - - - - - - - - - - Total segment net revenues 689 712 742 770 686 689 686 (3) - (3) - (84) (11)% Less: intersegment revenues 13 14 13 15 13 13 13 - - - - (2) (13)% Total net revenues $ 676 $ 698 $ 729 $ 755 $ 673 $ 676 $ 673 $ (3) - $ (3) - $ (82) (11)% 51 of 51


 
(Back To Top)