 | 美國健康財務（Ameriprise Financial, Inc.） 明尼阿波利斯市 紐交所: AMP 2024年10月23日 | ||||
阿莫斯萊斯金融報告
2024年第三季度業績
| 每股攤薄收益 | 除AOCI之外的股東權益回報 (1) | |||||||||||||
Q3 2024 | Q3 2024 | |||||||||||||
| 通用會計原則(GAAP) | $5.00 | 通用會計原則(GAAP) | 40.1% | |||||||||||
調整營業收入 | $8.10 | 調整後營運 | 49.6% | |||||||||||
| 調整後營運，不包括解鎖和裁員費用 | $9.02 | 調整後營運，不包括解鎖 | 50.7% | |||||||||||
•第三季度調整後的每股稀釋收益增加了17%，爲9.02美元，不包括解鎖和與公司加強運營效率和效益倡議相關的賠償費用。
•第三季度按照通用會計準則計算的每股稀釋淨利潤爲
5.00美元，相比一年前的8.14美元，主要受到衍生品估值和市場風險利益的影響。
5.00美元，相比一年前的8.14美元，主要受到衍生品估值和市場風險利益的影響。
•資產管理和管理規模達到1.5萬億美元，較客戶淨流入和市場增值增長22%。
資產管理和管理規模達到1.5萬億美元，較客戶淨流入和市場增值增長22%。
資產管理和管理規模達到1.5萬億美元，較客戶淨流入和市場增值增長22%。
資產管理和管理規模達到1.5萬億美元，較客戶淨流入和市場增值增長22%。
資產管理和管理規模達到1.5萬億美元，較客戶淨流入和市場增值增長22%。
•調整後的營業淨收入增長11%，來自有機增長、強勁的股票市場和更高的息差收入。
•總部和行政開支繼續得到有效管理，顯示公司對運營效率和效益的專注。
•稅前調整後的營業利潤率爲27%(2) 調整後的淨資產收益率爲51%(3).
•公司在本季度向股東返還了71300萬資本，展示其資產負債表實力和強勁的自由現金流生成能力。
| 來自吉姆·克拉奇奧洛，董事長兼首席執行官的觀點 | ||
美林金融再次交出了一個非常出色的季度業績，進一步展示了我們客戶和顧問價值主張、互補業務以及戰略聚焦的實力。 我們在業務各領域實現了強勁的營業收入和利潤增長。在積極的市場環境和我們的規劃專業知識的支持下，客戶進行更廣泛的投資。 資金流入基於費用的投資諮詢帳戶顯著增加，交易活動持續強勁，顧問生產力再次達到新高。 在公司各方面，我們繼續推動營運效率，同時爲增長進行投資。我們的財務實力和自由現金流生成仍然是關鍵的區別因素，並在市場週期中獲得靈活性，持續實現強勁的業績並向股東返還資本。 | ||
(1) 不包括AOCI的淨資產收益率是根據過去12個月的數據計算的。
(2) 不包括解鎖和離職。
(3) 不包括解鎖。解鎖影響反映了公司對保險和年金估值假設以及模型變化進行的年度審查。
1
| 美國健康財務（Ameriprise Financial, Inc.） | |||||||||||||||||||||||||||||||||||
第三財季摘要 | |||||||||||||||||||||||||||||||||||
季度結束 2022年9月30日 | % Better/ (更糟) | 截至年底 2022年9月30日 | % 更好/ (更糟) | ||||||||||||||||||||||||||||||||
| (以百萬計，除每股金額外，未經審計) | 2024 | 2023 | 2024 | 2023 | |||||||||||||||||||||||||||||||
| 按照通用會計準則計算的淨收益 | $ | 511 | $ | 872 | (41)% | $ | 2,330 | $ | 2,179 | 7% | |||||||||||||||||||||||||
| 調整後的營業收益 | $ | 828 | $ | 745 | 11% | $ | 2,588 | $ | 2,350 | 10% | |||||||||||||||||||||||||
調整後的營運收入，不包括解鎖（請參閱第24頁和25頁的調整） | $ | 902 | $ | 823 | 10% | $ | 2,662 | $ | 2,428 | 10% | |||||||||||||||||||||||||
調整後的營運收入，不包括解鎖和離職費用（請參閱第24頁和25頁的調整） | $ | 921 | $ | 829 | 11% | $ | 2,705 | $ | 2,434 | 11% | |||||||||||||||||||||||||
| GAAP 稀釋後每股淨收益 | $ | 5.00 | $ | 8.14 | (39)% | $ | 22.53 | $ | 20.08 | 12% | |||||||||||||||||||||||||
| 每股調整後的營運收益 | $ | 8.10 | $ | 6.96 | 16% | $ | 25.03 | $ | 21.66 | 16% | |||||||||||||||||||||||||
每股調整後的營運收益，不包括解鎖（請參閱第24頁和25頁的調解） | $ | 8.83 | $ | 7.68 | 15% | $ | 25.74 | $ | 22.38 | 15% | |||||||||||||||||||||||||
每股調整後的營運收益，不包括解鎖和裁員費用（請參閱第24頁和25頁的調解） | $ | 9.02 | $ | 7.74 | 17% | $ | 26.15 | $ | 22.43 | 17% | |||||||||||||||||||||||||
| GAAP淨資產回報，不含AOCI | 40.1 | % | 44.4 | % | 40.1 | % | 44.4 | % | |||||||||||||||||||||||||||
| 調整後的淨資產回報，不含AOCI | 49.6 | % | 48.4 | % | 49.6 | % | 48.4 | % | |||||||||||||||||||||||||||
調整後的淨資產回報，不含AOCI和解鎖（請參閱第24頁和25頁的調解） 29) | 50.7 | % | 49.6 | % | 50.7 | % | 49.6 | % | |||||||||||||||||||||||||||
| GAAP淨資產，不含AOCI | $ | 6,816 | $ | 6,665 | 2% | $ | 6,816 | $ | 6,665 | 2% | |||||||||||||||||||||||||
可用於資本充足的資本 (請參見第p。 27) | $ | 5,523 | $ | 5,247 | 5% | $ | 5,523 | $ | 5,247 | 5% | |||||||||||||||||||||||||
| 加權平均流通股數: | |||||||||||||||||||||||||||||||||||
| Basic | 100.4 | 104.9 | 101.6 | 106.4 | |||||||||||||||||||||||||||||||
| Diluted | 102.2 | 107.1 | 103.4 | 108.5 | |||||||||||||||||||||||||||||||
2024年第三季度GAAP結果包括對衍生品估值和市場風險受益的不利市場影響，而去年同期包括對衍生品估值和市場風險受益的有利市場影響。
公司在本季度完成了年度精算假設更新，導致每股稅後不利影響爲7400萬美元，或每股0.73美元。這主要與變量年金的更新續存假設有關。
此外，調整後的稅後營運結果包括2024年第三季度1900萬美元的離職費用，以及年初至今4300萬美元的離職費用。離職與公司旨在增強運營效率和效果、進一步加強客戶體驗和未來盈利能力的舉措有關。
2
| 美國健康財務（Ameriprise Financial, Inc.） | |||||||||||||||||
| 諮詢與财富管理業務部門調整後營業利潤率 | |||||||||||||||||
| 截至9月30日的季度 | % 更好/ (更糟) | ||||||||||||||||
| (以百萬計，未經審計) | 2024 | 2023 | |||||||||||||||
| 調整後的營業淨收入 | $ | 2,742 | $ | 2,407 | 14% | ||||||||||||
| 營銷費用 | 1,488 | 1,253 | (19)% | ||||||||||||||
| 利息和負債費用 | 9 | 6 | (50)% | ||||||||||||||
| 一般及管理費用 | 419 | 419 | —% | ||||||||||||||
調整後的營業費用 | 1,916 | 1,678 | (14)% | ||||||||||||||
稅前調整後營業利潤 | $ | 826 | $ | 729 | 13% | ||||||||||||
| 稅前調整後的營業利潤率 | 30.1 | % | 30.3 | % | (20) 點子 | ||||||||||||
| 截至9月30日的季度 | % 更好/ (更糟) | |||||||||||||
| (以十億計，除非另有說明) | 2024 | 2023 | ||||||||||||
| 客戶資產總額 | $ | 1,024 | $ | 816 | 26% | |||||||||
客戶淨流入總額 | $ | 8.6 | $ | 8.9 | (3)% | |||||||||
Wrap淨流入 | $ | 8.0 | $ | 5.4 | 48% | |||||||||
AWM現金餘額 | $ | 40.1 | $ | 40.5 | (1)% | |||||||||
| 每位顧問的調整後營業淨收入（萬美元，TTM） | $ | 997 | $ | 901 | 11% | |||||||||
諮詢與财富管理 持續展現盈利的有機增長，創下歷史新高 銀行的稅前調整運營收入達到82600萬美元，利潤率超過30%，受核心業務增長驅動，以及更高的穩健淨投資收入。
銀行調整後的營業淨收入增長了14%，達到27億美元，主要由於客戶資產增長、交易活動增加以及淨投資收入增長了6%。
調整後的營業費用較去年增長了14%，達到19億美元。總務及行政費用與去年持平，爲41900萬美元。去年扣除2000萬美元的監管準備金後，總務及行政費用增長了5%，主要來自成交量相關的業務增長費用。
客戶和顧問始終保持關注，專注於調整投資組合，以滿足各種市場週期下的財務規劃目標。
•客戶總資產增長26%，達到1萬億美元的歷史新高，Wrap資產增長28%，達到5690億美元。
•期貨流量增長至80億美元，年化增長率爲6%，這是客戶偏好轉向諮詢產品的早期跡象。
•交易活動增長19%，各產品領域均呈現強勁增長。
•客戶現金總額爲$830億，比一年前增加$105億。在本季度，第三方貨幣市場基金的增長部分抵消了經紀人發行的CD和存款證書等期限產品的下降。
•客戶現金清理餘額穩定在約$280億左右。
•銀行資產增長了7%，達到232億美元，在這種預計利率較低的環境下提供可持續的淨投資收入。
•在過去12個月的基礎上，每位顧問的調整後營業淨收入達到99.7萬美元，比增強的生產力、業務增長和市場增值提高了11%。
•顧問人數增加到10,368人，這反映了本季度增加了71位經驗豐富的顧問，以及持續穩固的顧問留存率。
3
| 美國健康財務（Ameriprise Financial, Inc.） | |||||||||||||||||
| 資產管理部門調整後的營運業績 | |||||||||||||||||
| 截至9月30日的季度 | % 更好/ (更糟) | ||||||||||||||||
| (以百萬計，未經審計) | 2024 | 2023 | |||||||||||||||
| 調整後的營業淨收入 | $ | 882 | $ | 826 | 7% | ||||||||||||
| 營銷費用 | 250 | 234 | (7)% | ||||||||||||||
| 推遲收購成本攤銷 | 2 | 1 | 未出現數據 | ||||||||||||||
| 利息和負債費用 | 2 | 2 | —% | ||||||||||||||
| 一般及管理費用 | 383 | 390 | 2% | ||||||||||||||
| 調整後的營業費用 | 637 | 627 | (2)% | ||||||||||||||
| 稅前調整後營業利潤 | $ | 245 | $ | 199 | 23% | ||||||||||||
Net pretax adjusted operating margin (1) | 40.9 | % | 35.7 | % | |||||||||||||
| 截至9月30日的季度 | % 更好/ (更糟) | ||||||||||||||||
| （以億爲單位） | 2024 | 2023 | |||||||||||||||
| 總分部資產管理 | $ | 672 | $ | 587 | 14% | ||||||||||||
| 淨流入 | |||||||||||||||||
全球零售淨資產流動，不包括傳統保險合作伙伴 | $ | (2.7) | $ | (3.8) | 29% | ||||||||||||
模型交付資產淨流入 (2) | 1.2 | 0.2 | 未出現數據 | ||||||||||||||
零售淨資產淨流入總額和模型交付資產淨流入 (2) | (1.5) | (3.6) | 58% | ||||||||||||||
全球機構淨資產流入，不包括傳統保險合作伙伴 | — | 0.5 | 未出現數據 | ||||||||||||||
傳統保險合作伙伴資產淨流入 | (0.9) | (0.9) | —% | ||||||||||||||
總淨資產和資產總額流入 (2) | $ | (2.4) | $ | (4.0) | 40% | ||||||||||||
(1) 請參閱頁面上的調解 13. | |||||||||||||||||
(2) 模型交付資產顧問資金流入估計根據資產的週期性變化減去根據策略回報計算的表現基礎上的一季度滯後。 | |||||||||||||||||
| Nm 不明確 - 方差等於或大於100% | |||||||||||||||||
資產管理 調整後的營業淨收入增長了7%，達到88200萬美元，稅前調整營業收益增長了23%，達到24500萬美元。財務業績反映了股市走高的影響和費用管理措施的積極影響，這大大抵消了淨流出的累積影響。淨稅前調整營業利潤率達到41%，超過了公司的目標區間。
調整後的營業費用增加了2％。總務和管理費用較去年同比提高了2％，反映出公司不斷改進運營效率和效益的初期收益，以進一步加強客戶體驗和未來的盈利能力。
管理資產總額增長14%，至6720億美元。基礎費率保持穩定。
總淨流出改善了40%，達到24億美元，其中包括涉及傳統保險合作伙伴的9億美元流出。零售和模型投遞淨流出爲15億美元，比去年同期21億美元的改善來自北美和歐洲、中東、非洲兩地銷售增長和強勁的模型投遞淨流入。
4
| 美國健康財務（Ameriprise Financial, Inc.） | ||||||||||||||
| 養老保障解決方案部門調整後營業費用結果 | ||||||||||||||
| 截至9月30日的季度 | % 更好/ (更糟) | |||||||||||||
| (以百萬計，未經審計) | 2024 | 2023 | ||||||||||||
| 調整後的營業淨收入 | $ | 973 | $ | 876 | 11% | |||||||||
| 調整後的營業費用 | 855 | 776 | (10)% | |||||||||||
| 稅前調整後營業利潤（包括解鎖） | $ | 118 | $ | 100 | 18% | |||||||||
| 解鎖 | (90) | (104) | 13% | |||||||||||
| 稅前調整後營業利潤不包括解鎖 | $ | 208 | $ | 204 | 2% | |||||||||
養老與保障解決方案 稅前調整後的營運收入，不包括解鎖，按年計增長了2%，達到20800萬美元，截至目前年度爲60300萬美元。業務的強勁和穩定表現反映了利息收入增加和股票市場上漲帶來的好處，部分抵消了與持續強勁銷售水平相關的較高分銷費用。這些高質量的業務繼續產生強勁的自由現金流和資本回報，具有不同風險配置文件。
養老與保障解決方案銷售額增長15％至14億美元，主要受到理財與财富管理客戶對結構型可變年金和可變通用壽險產品的需求推動。
5
| 美國健康財務（Ameriprise Financial, Inc.） | ||||||||||||||
| 公司及其他分部調整後的營運結果 | ||||||||||||||
| 截至9月30日的季度 | % 更好/ (更糟) | |||||||||||||
| (以百萬計，未經審計) | 2024 | 2023 | ||||||||||||
| 企業及其他 | $ | (145) | $ | (74) | (96)% | |||||||||
已結案區塊 (1) | 2 | 2 | —% | |||||||||||
| 稅前調整後營業利潤 | $ | (143) | $ | (72) | (99)% | |||||||||
解鎖 | (4) | 5 | 未出現數據 | |||||||||||
解鎖以外的稅前調整運營收益 | $ | (139) | $ | (77) | (81)% | |||||||||
除解鎖外的長期護理 | $ | 13 | $ | 5 | 未出現數據 | |||||||||
| 除解鎖外的固定年金 | (7) | (8) | 13% | |||||||||||
| 解鎖以外的稅前調整運營收益 | $ | 6 | $ | (3) | 未出現數據 | |||||||||
(1) 長期護理和固定年金。 | ||||||||||||||
| 不適用-方差等於或大於100% | ||||||||||||||
公司及其他，不包括關閉的部分， 稅前調整後的營運虧損爲14500萬美元，其中5600萬美元與3400萬美元的離職和離職計劃費用有關，以及2200萬美元的費用用於加速公司向基於雲技術平台的過渡，與強勁表現相關的更高薪酬預備金以及股權激勵計劃的按市值覈算影響。
開多期護理 除解鎖外的稅前調整營運收入爲1300萬美元，或者截至目前爲止的4100萬美元，延續了改善表現趨勢。
固定年金 稅前調整後的營運虧損，不包括解鎖，符合預期，爲700萬美元。
稅收
第三季度，營運有效稅率降至20.8％，年初至今稅率爲20.1％。預計全年有效稅率將在20％至21％的區間內。
聯繫人
投資者關係: 媒體關係:
Alicia A. Charity Paul W. Johnson
阿莫斯萊斯金融 阿莫斯萊斯金融
(612) 671-2080 (612) 671-0625
alicia.a.charity@ampf.com paul.w.johnson@ampf.com
斯蒂芬妮·M·拉貝
阿莫斯萊斯金融
(612) 671-4085
stephanie.m.rabe@ampf.com
6
阿莫斯萊斯金融
在阿莫斯萊斯金融，我們一直致力於幫助人們對自己的財務未來感到自信長達130年。憑藉廣泛的投資建議、全球貨幣管理能力和保險解決方案，以及超過10,000名金融顧問的全國網絡，我們擁有實力和專業知識來滿足個人和機構投資者的所有金融需求。
阿莫斯萊斯金融服務有限責任公司提供財務規劃服務、投資、保險和年金產品。哥倫比亞所有基金類型由哥倫比亞管理投資分銷商公司分銷，是FINRA成員，由哥倫比亞管理投資顧問有限責任公司管理。Threadneedle 國際有限公司、哥倫比亞Threadneedle 資產管理有限公司、哥倫比亞Threadneedle (EM) 投資有限公司和Pyrford 國際有限公司是哥倫比亞管理投資顧問有限責任公司在英國註冊的投資顧問聯屬公司。RiverSource 保險和年金產品由RiverSource 人壽保險公司發行，在紐約僅由New York的RiverSource 人壽保險公司發行，總部位於紐約的Albany。只有New York的RiverSource 人壽保險公司被授權在紐約州銷售保險和年金產品。這些公司是阿莫斯萊斯金融公司的組成部分。CA許可證號碼＃0684538。RiverSource Distributors, Inc.（分銷商）是FINRA成員。
Non-GAAP Financial Measures
The company believes the presentation of adjusted operating measures, available capital for capital adequacy and other non-GAAP financial measures, and the corresponding ratios, best represents the underlying performance of our core operations and facilitates a more meaningful trend analysis without the distortion of various adjustment items. Management uses non-GAAP financial measures to evaluate our financial performance on a basis comparable to that used by some securities analysts and investors and to provide a valuable perspective for investors. These non-GAAP financial measures are taken into consideration, to varying degrees, for purposes of business planning and analysis and for certain compensation-related matters. Non-GAAP financial measures are intended to supplement investors’ understanding of our performance and should not be considered alternatives for financial measures presented in accordance with GAAP. These measures are discussed in more detail below and may not be comparable to other companies’ similarly titled non-GAAP financial measures. Non-GAAP financial measure reconciliations can be found on the subsequent pages.
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, general and administrative costs, net pretax adjusted operating margin, consolidated tax rate, return of capital to shareholders, and excess capital position and financial flexibility to capture additional growth opportunities;
•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;
•statements estimating the financial impacts and future profitability arising from the company’s initiatives to enhance operational efficiency and effectiveness;
7
•statements about higher sustainable net investment income at the bank and the forecast for a lower rate environment;
•statements about continued improved performance of long term care operating earnings;
•statements estimating the expected full year 2024 operating effective tax rate; 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,” “commitment,” “scenario,” “case,” “appear,” “expands” 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, 2023 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 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 period ended September 30, 2024.
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.
8
| Ameriprise Financial, Inc. | ||||||||||||||||||||
| Consolidated GAAP Results | ||||||||||||||||||||
| (in millions, except per share amounts, unaudited) | 3 Qtr 2024 | 3 Qtr 2023 | % Better/ (Worse) | 2 Qtr 2024 | % Better/ (Worse) | |||||||||||||||
| Revenues | ||||||||||||||||||||
| Management and financial advice fees | $ | 2,573 | $ | 2,287 | 13% | $ | 2,456 | 5% | ||||||||||||
| Distribution fees | 513 | 463 | 11% | 505 | 2% | |||||||||||||||
| Net investment income | 934 | 809 | 15% | 921 | 1% | |||||||||||||||
| Premiums, policy and contract charges | 409 | 390 | 5% | 381 | 7% | |||||||||||||||
| Other revenues | 131 | 127 | 3% | 129 | 2% | |||||||||||||||
| Total revenues | 4,560 | 4,076 | 12% | 4,392 | 4% | |||||||||||||||
| Banking and deposit interest expense | 163 | 151 | (8)% | 172 | 5% | |||||||||||||||
| Total net revenues | 4,397 | 3,925 | 12% | 4,220 | 4% | |||||||||||||||
| Expenses | ||||||||||||||||||||
| Distribution expenses | 1,539 | 1,297 | (19)% | 1,450 | (6)% | |||||||||||||||
| Interest credited to fixed accounts | 118 | 139 | 15% | 185 | 36% | |||||||||||||||
| Benefits, claims, losses and settlement expenses | 430 | 120 | NM | 331 | (30)% | |||||||||||||||
| Remeasurement (gains) losses of future policy benefit reserves | (22) | (12) | 83% | (8) | NM | |||||||||||||||
| Change in fair value of market risk benefits | 566 | 168 | NM | 110 | NM | |||||||||||||||
| Amortization of deferred acquisition costs | 59 | 62 | 5% | 61 | 3% | |||||||||||||||
| Interest and debt expense | 87 | 84 | (4)% | 83 | (5)% | |||||||||||||||
| General and administrative expense | 975 | 950 | (3)% | 957 | (2)% | |||||||||||||||
| Total expenses | 3,752 | 2,808 | (34)% | 3,169 | (18)% | |||||||||||||||
| Pretax income | 645 | 1,117 | (42)% | 1,051 | (39)% | |||||||||||||||
| Income tax provision | 134 | 245 | (45)% | 222 | (40)% | |||||||||||||||
| Net income | $ | 511 | $ | 872 | (41)% | $ | 829 | (38)% | ||||||||||||
| Earnings per share | ||||||||||||||||||||
| Basic earnings per share | $ | 5.09 | $ | 8.31 | $ | 8.16 | ||||||||||||||
| Earnings per diluted share | $ | 5.00 | $ | 8.14 | $ | 8.02 | ||||||||||||||
| Weighted average common shares outstanding | ||||||||||||||||||||
| Basic | 100.4 | 104.9 | 101.6 | |||||||||||||||||
| Diluted | 102.2 | 107.1 | 103.4 | |||||||||||||||||
| NM Not Meaningful - variance equal to or greater than 100% | ||||||||||||||||||||
9
| 美國健康財務（Ameriprise Financial, Inc.） | ||||||||||||||||||||
| 綜述和資本概要 | ||||||||||||||||||||
| (單位：百萬美元，除非另有說明，未經審計) | 2024年第3季 | 2023年第3季 | % 更好/ (更糟) | 2024年第2季 | % 更好/ (更糟) | |||||||||||||||
| 資產管理和行政資產 | ||||||||||||||||||||
| 投資和财富管理資產 | $ | 565,152 | $ | 440,703 | 28% | $ | 531,268 | 6% | ||||||||||||
| 資產管理資產 | 672,110 | 587,171 | 14% | 641,880 | 5% | |||||||||||||||
| 公司資產 | 523 | 349 | 50% | 490 | 7% | |||||||||||||||
| 剔除項 | (45,839) | (37,795) | (21)% | (44,136) | (4)% | |||||||||||||||
| 資產總管理 | 1,191,946 | 990,428 | 20% | 1,129,502 | 6% | |||||||||||||||
| 管理的總資產 | 314,173 | 242,336 | 30% | 298,468 | 5% | |||||||||||||||
| 總管理資產和總資產 | $ | 1,506,119 | $ | 1,232,764 | 22% | $ | 1,427,970 | 5% | ||||||||||||
| S&P 500 | ||||||||||||||||||||
| 每日平均 | 5,546 | 4,456 | 24% | 5,253 | 6% | |||||||||||||||
| 期末 | 5,762 | 4,288 | 34% | 5,460 | 6% | |||||||||||||||
加權股指期貨（WEI） (1) | ||||||||||||||||||||
| 每日平均 | 3,528 | 2,903 | 22% | 3,358 | 5% | |||||||||||||||
| 期末 | 3,664 | 2,788 | 31% | 3,456 | 6% | |||||||||||||||
| 普通股 | ||||||||||||||||||||
| 期初餘額 | 98.4 | 102.8 | (4)% | 99.6 | (1)% | |||||||||||||||
| 回購 | (1.3) | (1.5) | 13% | (1.3) | —% | |||||||||||||||
| 股份發行 | 0.2 | 0.3 | (33)% | 0.1 | 未出現數據 | |||||||||||||||
| 其他 | (0.1) | (0.2) | 50% | — | —% | |||||||||||||||
| 總普通股數 | 97.2 | 101.4 | (4)% | 98.4 | (1)% | |||||||||||||||
| 限制性股票單位 | 2.5 | 2.6 | (4)% | 2.6 | (4)% | |||||||||||||||
| 普通股份基本總股份流通 | 99.7 | 104.0 | (4)% | 101.0 | (1)% | |||||||||||||||
| 總潛在稀釋股數 | 1.9 | 2.2 | (14)% | 1.8 | 6% | |||||||||||||||
| 攤薄股數總數 | 101.6 | 106.2 | (4)% | 102.8 | (1)% | |||||||||||||||
| 歸還股東的資金 | ||||||||||||||||||||
| 分紅派息 | $ | 150 | $ | 143 | 5% | $ | 151 | (1)% | ||||||||||||
| 普通股份回購 | 563 | 520 | 8% | 542 | 4% | |||||||||||||||
| 總資本返還給股東 | $ | 713 | $ | 663 | 8% | $ | 693 | 3% | ||||||||||||
(1) 加權股指期貨是美林財富計算的股票市場走勢代理，基於北美分佈的股票資產，採用標準普爾500、羅素2000、羅素Midcap和MSCI EAFE指數的加權平均值計算。 | ||||||||||||||||||||
| 百分誤差等於或大於100%，不具有實際意義 | ||||||||||||||||||||
10
| 美國健康財務（Ameriprise Financial, Inc.） | ||||||||||||||||||||||||||
| 諮詢與财富管理業務部門調整後營業利潤率 | ||||||||||||||||||||||||||
| (以百萬計，未經審計) | 2024年第3季度 | 2023年第3季度 | % 更好/ (更糟) | 2024年第2季度 | % 更好/ (更糟) | |||||||||||||||||||||
| 收入 | ||||||||||||||||||||||||||
| 管理和財務諮詢費用： | ||||||||||||||||||||||||||
| 諮詢費用 | $ | 1,451 | $ | 1,228 | 18% | $ | 1,361 | 7% | ||||||||||||||||||
| 財務規劃費用 | 111 | 102 | 9% | 110 | 1% | |||||||||||||||||||||
| 交易和其他費用 | 97 | 94 | 3% | 100 | (3)% | |||||||||||||||||||||
| 管理和財務諮詢費用總額 | 1,659 | 1,424 | 17% | 1,571 | 6% | |||||||||||||||||||||
| 分銷費用： | ||||||||||||||||||||||||||
| 所有基金類型 | 209 | 184 | 14% | 199 | 5% | |||||||||||||||||||||
| 保險和年金 | 266 | 226 | 18% | 260 | 2% | |||||||||||||||||||||
| 資產負債表外的券商現金 | 32 | 58 | (45)% | 40 | (20)% | |||||||||||||||||||||
| 其他產品 | 107 | 84 | 27% | 109 | (2)% | |||||||||||||||||||||
| 總分銷費用 | 614 | 552 | 11% | 608 | 1% | |||||||||||||||||||||
| 淨投資收益 | 554 | 517 | 7% | 560 | (1)% | |||||||||||||||||||||
| 其他營業收入 | 78 | 65 | 20% | 77 | 1% | |||||||||||||||||||||
| 總收入 | 2,905 | 2,558 | 14% | 2,816 | 3% | |||||||||||||||||||||
| 銀行和存入資金利息支出 | 163 | 151 | (8)% | 172 | 5% | |||||||||||||||||||||
| 調整後的營業總淨收入 | 2,742 | 2,407 | 14% | 2,644 | 4% | |||||||||||||||||||||
| 費用 | ||||||||||||||||||||||||||
| 營銷費用 | 1,488 | 1,253 | (19)% | 1,403 | (6)% | |||||||||||||||||||||
| 利息和負債費用 | 9 | 6 | (50)% | 10 | 10% | |||||||||||||||||||||
| 總務費用 | 419 | 419 | —% | 409 | (2)% | |||||||||||||||||||||
| 調整後的營業費用 | 1,916 | 1,678 | (14)% | 1,822 | (5)% | |||||||||||||||||||||
| 稅前調整後營業利潤 | $ | 826 | $ | 729 | 13% | $ | 822 | —% | ||||||||||||||||||
| 稅前調整後的營業利潤率 | 30.1 | % | 30.3 | % | 31.1 | % | ||||||||||||||||||||
11
| 美國健康財務（Ameriprise Financial, Inc.） | ||||||||||||||||||||||||||
| 諮詢與财富管理部分運營指標 | ||||||||||||||||||||||||||
| (以百萬爲單位，除非另有說明，未經審計) | 2024年第3季度 | 2023年第3季度 | % 更好/ (更糟) | 2024年第2季度 | % 更好/ (更糟) | |||||||||||||||||||||
| AWM總客戶資產 | $ | 1,024,467 | $ | 816,019 | 26% | $ | 972,135 | 5% | ||||||||||||||||||
| 客戶資金流入流出總額 | $ | 8,613 | $ | 8,901 | (3)% | $ | 6,604 | 30% | ||||||||||||||||||
| 總託管帳戶 | ||||||||||||||||||||||||||
| 期初資產 | $ | 534,990 | $ | 454,689 | 18% | $ | 521,722 | 3% | ||||||||||||||||||
| 淨流量 | 7,992 | 5,391 | 48% | 7,521 | 6% | |||||||||||||||||||||
| 市場增值（折舊）及其他 | 26,072 | (16,019) | 未出現數據 | 5,747 | 未出現數據 | |||||||||||||||||||||
| 總和包結束資產 | $ | 569,054 | $ | 444,061 | 28% | $ | 534,990 | 6% | ||||||||||||||||||
諮詢包帳戶資產結餘 (1) | $ | 563,438 | $ | 439,341 | 28% | $ | 529,642 | 6% | ||||||||||||||||||
| 券商現金和證券餘額 | ||||||||||||||||||||||||||
| 資產負債表（淨投資收益） | ||||||||||||||||||||||||||
| 資產負債表 - 券商 | $ | 2,633 | $ | 2,554 | 3% | $ | 2,279 | 16% | ||||||||||||||||||
| 資產負債表 - 銀行 | 21,731 | 20,970 | 4% | 21,466 | 1% | |||||||||||||||||||||
| 資產負債表-證書 | 11,998 | 12,612 | (5)% | 12,526 | (4)% | |||||||||||||||||||||
| 資產負債表合計 | $ | 36,362 | $ | 36,136 | 1% | $ | 36,271 | —% | ||||||||||||||||||
| 表外(分配費) | ||||||||||||||||||||||||||
| 表外-券商 | $ | 3,714 | $ | 4,347 | (15)% | $ | 4,359 | (15)% | ||||||||||||||||||
| 券商現金和證券總餘額 | $ | 40,076 | $ | 40,483 | (1)% | $ | 40,630 | (1)% | ||||||||||||||||||
| 毛費用收益率 | ||||||||||||||||||||||||||
| 資產負債表-券商 | 5.27 | % | 5.30 | % | 5.34 | % | ||||||||||||||||||||
| 資產負債表-銀行 | 5.02 | % | 4.97 | % | 5.15 | % | ||||||||||||||||||||
| 資產負債表 - 證書 | 5.63 | % | 5.40 | % | 5.66 | % | ||||||||||||||||||||
| 資產負債表之外 - 券商 | 3.28 | % | 4.28 | % | 3.08 | % | ||||||||||||||||||||
| 金融顧問 | ||||||||||||||||||||||||||
| 員工顧問 | 2,212 | 2,104 | 5% | 2,236 | (1)% | |||||||||||||||||||||
| 特許經營顧問 | 8,156 | 8,154 | —% | 8,156 | —% | |||||||||||||||||||||
| 總財務顧問 | 10,368 | 10,258 | 1% | 10,392 | —% | |||||||||||||||||||||
| 顧問保留 | ||||||||||||||||||||||||||
| 員工 | 92.5 | % | 92.2 | % | 93.2 | % | ||||||||||||||||||||
| 特許經營權 | 92.5 | % | 92.8 | % | 92.6 | % | ||||||||||||||||||||
(1) 諮詢套保帳戶資產代表客戶接受諮詢服務的資產，是套保帳戶獲得的主要營業收入來源。客戶可能在其套保帳戶中持有非諮詢投資，這些投資不會產生諮詢費。 | ||||||||||||||||||||||||||
| Nm 不明確 - 方差等於或大於100% | ||||||||||||||||||||||||||
12
| 美國健康財務（Ameriprise Financial, Inc.） | ||||||||||||||||||||||||||
| 資產管理部門調整後的營運業績 | ||||||||||||||||||||||||||
| (以百萬計，未經審計) | 2024年第3季度 | 2023年第3季度 | % 更好/ (更糟) | 2024年第2季度 | % 更好/ (更糟) | |||||||||||||||||||||
| 收入 | ||||||||||||||||||||||||||
| 管理和財務諮詢費用： | ||||||||||||||||||||||||||
| 資產管理費用： | ||||||||||||||||||||||||||
| 零售 | $ | 540 | $ | 499 | 8% | $ | 522 | 3% | ||||||||||||||||||
| 機構 | 143 | 148 | (3)% | 140 | 2% | |||||||||||||||||||||
模型交付 (1) | 21 | 17 | 24% | 21 | —% | |||||||||||||||||||||
| 交易和其他費用 | 52 | 50 | 4% | 52 | —% | |||||||||||||||||||||
其他來源的營業收入 (2) | 4 | 3 | 33% | 3 | 33% | |||||||||||||||||||||
| 管理和財務諮詢費用總額 | 760 | 717 | 6% | 738 | 3% | |||||||||||||||||||||
| 分銷費用： | ||||||||||||||||||||||||||
| 所有基金類型 | 57 | 53 | 8% | 56 | 2% | |||||||||||||||||||||
| 保險和年金 | 41 | 39 | 5% | 40 | 3% | |||||||||||||||||||||
| 總分銷費用 | 98 | 92 | 7% | 96 | 2% | |||||||||||||||||||||
| 淨投資收益 | 17 | 10 | 70% | 12 | 42% | |||||||||||||||||||||
| 其他營業收入 | 7 | 7 | —% | 2 | 未出現數據 | |||||||||||||||||||||
| 總收入 | 882 | 826 | 7% | 848 | 4% | |||||||||||||||||||||
| 銀行和存入資金利息支出 | — | — | —% | — | —% | |||||||||||||||||||||
| 調整後的營業總淨收入 | 882 | 826 | 7% | 848 | 4% | |||||||||||||||||||||
| 費用 | ||||||||||||||||||||||||||
| 營銷費用 | 250 | 234 | (7)% | 244 | (2)% | |||||||||||||||||||||
| 推遲收購成本攤銷 | 2 | 1 | 未出現數據 | 1 | 未出現數據 | |||||||||||||||||||||
| 利息和負債費用 | 2 | 2 | —% | 1 | 未出現數據 | |||||||||||||||||||||
| 總務費用 | 383 | 390 | 2% | 384 | —% | |||||||||||||||||||||
| 調整後的營業費用 | 637 | 627 | (2)% | 630 | (1)% | |||||||||||||||||||||
| 稅前調整後營業利潤 | $ | 245 | $ | 199 | 23% | $ | 218 | 12% | ||||||||||||||||||
| 淨稅前調整營業利潤率調解 | ||||||||||||||||||||||||||
| 調整後的營業總淨收入 | $ | 882 | $ | 826 | 7% | $ | 848 | 4% | ||||||||||||||||||
| 分配通過的收入 | (198) | (186) | (6)% | (192) | (3)% | |||||||||||||||||||||
| 次級顧問和其他通過收入 | (104) | (96) | (8)% | (98) | (6)% | |||||||||||||||||||||
| 淨調整營業收入 | $ | 580 | $ | 544 | 7% | $ | 558 | 4% | ||||||||||||||||||
| 稅前調整後營業利潤 | $ | 245 | $ | 199 | 23% | $ | 218 | 12% | ||||||||||||||||||
| 已調整的營業淨投資收益 | (17) | (10) | (70)% | (12) | (42)% | |||||||||||||||||||||
| 無形資產攤銷 | 9 | 5 | 80% | 4 | 未出現數據 | |||||||||||||||||||||
| 經調整的淨營業收益 | $ | 237 | $ | 194 | 22% | $ | 210 | 13% | ||||||||||||||||||
| 稅前調整後的營業利潤率 | 27.8 | % | 24.1 | % | 25.7 | % | ||||||||||||||||||||
Net pretax adjusted operating margin (3) | 40.9 | % | 35.7 | % | 37.6 | % | ||||||||||||||||||||
總業績費用 (4) | ||||||||||||||||||||||||||
| 業績報酬 | $ | — | $ | 7 | 未出現數據 | $ | 2 | 未出現數據 | ||||||||||||||||||
| 與業績費用相關的一般和行政費用 | — | 1 | 未出現數據 | 1 | 未出現數據 | |||||||||||||||||||||
| 績效費用 | $ | — | $ | 6 | 未出現數據 | $ | 1 | 未出現數據 | ||||||||||||||||||
(1) 以符合當年報表要求的機構轉爲當前年度呈現的金額。 | ||||||||||||||||||||||||||
(2) 包括符合保險會計準則下的投資合同的單獨帳戶的營業收入。 | ||||||||||||||||||||||||||
(3) 按照淨調整營業收入的百分比計算，作爲淨調整營業利潤的一部分。 | ||||||||||||||||||||||||||
(4) 績效費用不包括CLO激勵費用。 | ||||||||||||||||||||||||||
| Nm 不明確 - 方差等於或大於100% | ||||||||||||||||||||||||||
13
| 美國健康財務（Ameriprise Financial, Inc.） | ||||||||||||||||||||||||||
| 資產管理部門運營指標 | ||||||||||||||||||||||||||
| (以百萬計，未經審計) | 2024年第3季 | 2023年第3季 | % 更好/ (更糟) | 2024年第2季 | % 更好/ (更糟) | |||||||||||||||||||||
| 資產管理資產滾動 | ||||||||||||||||||||||||||
| 全球零售基金 | ||||||||||||||||||||||||||
| 起始資產 | $ | 347,460 | $ | 327,420 | 6% | $ | 349,567 | (1)% | ||||||||||||||||||
| 流入資產 | 13,129 | 11,223 | 17% | 12,536 | 5% | |||||||||||||||||||||
| 流出資產 | (15,724) | (15,166) | (4)% | (18,658) | 16% | |||||||||||||||||||||
| 淨VP/VIt基金流入 | (1,741) | (1,216) | (43)% | (1,607) | (8)% | |||||||||||||||||||||
| 淨新增流入 | (4,336) | (5,159) | 16% | (7,729) | 44% | |||||||||||||||||||||
| 再投資分紅派息 | 1,579 | 1,320 | 20% | 1,758 | (10)% | |||||||||||||||||||||
| 淨流量 | (2,757) | (3,839) | 28% | (5,971) | 54% | |||||||||||||||||||||
| 分佈。在根據本收據條款的規定結束本收據所體現的協議之前，託管人將在確定餘額之後以某種方式在底定時間向持有人分配或提供有關本美國存託憑證所體現的存入證券的任何現金股利、其他現金分派、股票分派、認購或其他權利或任何其他有關性質的分派，經過託管人在第十九條中描述的費用和支出的扣除或者付款，並扣除任何相關稅款； ，不過需要指出，託管人不會分配可能會違反1933年證券法或任何其他適用法律的分配，並且對於任何可能違反此類法律的情況，該人不會收到相應的保證。對於這種情況，託管人可以售出這樣的股份、認購或其他權利、證券或其他財產。如果託管人選擇不進行任何此類分配，則託管人只需要通知持有人有關其處置的事宜及任何此類銷售的收益，而任何以現金形式以外的方式通過託管人收到的任何現金股息或其他分配的，不受本第十二條的限制。託管人可以自行決定不分配任何分銷或者認購權，證券或者其他財產在行使時，託管人授權此類發行人可能不得在法律上向任何持有人或者處置此類權利，以及使任何發售此類權利且在託管人處出售這類權利的淨收益對這樣的持有人可用。任何由託管人出售的認購權、證券或者其他財產的銷售可能在託管人認爲適當的時間和方式進行，並且在這種情況下，託管人應將在第十九條中描述的費用和支出扣除後分配給持有人該淨收益以及在相應的代扣稅或其他政府收費中將，。 | (1,770) | (1,514) | (17)% | (2,099) | 16% | |||||||||||||||||||||
| 市場升值（貶值）和其他 | 15,521 | (8,478) | 未出現數據 | 5,889 | 未出現數據 | |||||||||||||||||||||
外匯翻譯(1) | 3,965 | (3,419) | 未出現數據 | 74 | 未出現數據 | |||||||||||||||||||||
| 總資產結算 | 362,419 | 310,170 | 17% | 347,460 | 4% | |||||||||||||||||||||
受託管理的零售資產總額的％ | 16.2 | % | 16.0 | % | 16.0 | % | ||||||||||||||||||||
| 全球機構 | ||||||||||||||||||||||||||
| 初始資產 | 294,420 | 289,178 | 2% | 302,510 | (3)% | |||||||||||||||||||||
流入 (2) | 8,168 | 8,404 | (3)% | 10,273 | (20)% | |||||||||||||||||||||
流出 (2) | (8,989) | (8,809) | (2)% | (16,360) | 45% | |||||||||||||||||||||
| 淨流量 | (821) | (405) | 未出現數據 | (6,087) | 87% | |||||||||||||||||||||
市場升值（貶值）和其他 (3) | 7,840 | (4,607) | 未出現數據 | (2,117) | 未出現數據 | |||||||||||||||||||||
外匯翻譯(1) | 8,252 | (7,165) | 未出現數據 | 114 | 未出現數據 | |||||||||||||||||||||
| 總資產結餘 | 309,691 | 277,001 | 12% | 294,420 | 5% | |||||||||||||||||||||
| 總資產管理資產 | $ | 672,110 | $ | 587,171 | 14% | $ | 641,880 | 5% | ||||||||||||||||||
總管理資產淨流入 | $ | (3,578) | $ | (4,244) | 16% | $ | (12,058) | 70% | ||||||||||||||||||
| 傳統保險合作伙伴流入 | $ | (869) | $ | (950) | 9% | $ | (9,104) | 90% | ||||||||||||||||||
資產管理建議下的總資產 (4) | $ | 33,297 | $ | 26,756 | 24% | $ | 31,980 | 4% | ||||||||||||||||||
模型交付的總資產流入 (5) | $ | 1,212 | $ | 213 | 未出現數據 | $ | 923 | 31% | ||||||||||||||||||
總管理資產和資產管理建議下的資產流入 (5) | (2,366) | (4,031) | 41% | (11,135) | 79% | |||||||||||||||||||||
(1) 金額表示當地貨幣兌美元的匯率轉換，用於報告目的。 | ||||||||||||||||||||||||||
(2) 全球機構的流入和流出包括來自我們RiverSource結構化年金產品和Ameriprise銀行的淨流入。 | ||||||||||||||||||||||||||
(3) 全球機構的市場升值（折舊）和其他方面包括關聯的總帳戶餘額變化，不包括與我們的結構化年金產品和Ameriprise銀行的淨流入有關的金額。 | ||||||||||||||||||||||||||
(4) 資產以一個季度的延遲呈現。 | ||||||||||||||||||||||||||
(5) AUA流量是根據資產在一個季度的變化減去基於策略回報的計算績效而估計的流量。 | ||||||||||||||||||||||||||
| 百分誤差等於或大於100%，不具有實際意義 | ||||||||||||||||||||||||||
14
| 美國健康財務（Ameriprise Financial, Inc.） | ||||||||||||||||||||||||||
| 資產管理板塊運營指標 | ||||||||||||||||||||||||||
| (以百萬計，未經審計) | 2024年第3季 | 2023年第3季 | % 更好/ (更糟) | 2024年第2季 | % 更好/ (更糟) | |||||||||||||||||||||
| 按類型分類的資產管理總額 | ||||||||||||||||||||||||||
| 股權 | $ | 353,812 | $ | 299,078 | 18% | $ | 340,206 | 4% | ||||||||||||||||||
| 固收 | 243,533 | 214,839 | 13% | 226,655 | 7% | |||||||||||||||||||||
| 貨幣市場 | 21,672 | 22,719 | (5)% | 22,759 | (5)% | |||||||||||||||||||||
| 其他 | 33,303 | 33,602 | (1)% | 33,187 | —% | |||||||||||||||||||||
| 混合和其他 | 19,790 | 16,933 | 17% | 19,073 | 4% | |||||||||||||||||||||
| 按類型劃分的總管理資產 | $ | 672,110 | $ | 587,171 | 14% | $ | 641,880 | 5% | ||||||||||||||||||
按類型劃分的平均管理資產 (1) | ||||||||||||||||||||||||||
| 股權 | $ | 347,466 | $ | 313,909 | 11% | $ | 336,469 | 3% | ||||||||||||||||||
| 固收 | 235,845 | 222,745 | 6% | 228,662 | 3% | |||||||||||||||||||||
| 貨幣市場 | 22,213 | 22,583 | (2)% | 22,540 | (1)% | |||||||||||||||||||||
| 其他 | 33,388 | 34,797 | (4)% | 33,014 | 1% | |||||||||||||||||||||
| 混合和其他 | 19,457 | 17,533 | 11% | 18,759 | 4% | |||||||||||||||||||||
| 按類型劃分的總平均管理資產 | $ | 658,369 | $ | 611,567 | 8% | $ | 639,444 | 3% | ||||||||||||||||||
(1) 平均期末餘額是通過上一期期末餘額和當前期所有月份的平均值來計算的。 | ||||||||||||||||||||||||||
| Ameriprise Financial, Inc. | ||||||||||||||
| Asset Management Segment Performance Metrics | ||||||||||||||
| 3 Qtr 2024 | ||||||||||||||
| Retail Fund Rankings in Top 2 Quartiles or Above Index Benchmark - Asset Weighted | 1 year | 3 year | 5 year | 10 year | ||||||||||
| Equity | 40% | 69% | 78% | 86% | ||||||||||
| Fixed Income | 88% | 71% | 81% | 95% | ||||||||||
| Asset Allocation | 90% | 57% | 89% | 90% | ||||||||||
| 4- or 5-star Morningstar rated funds | Overall | 3 year | 5 year | 10 year | ||||||||||
| Number of Rated Funds | 118 | 73 | 87 | 103 | ||||||||||
| Retail Fund performance rankings for each fund are measured on a consistent basis against the most appropriate peer group or index. Peer groupings of Columbia funds are defined by Lipper category and are based on the Primary Share Class (i.e., Institutional if available, otherwise Advisor or Institutional 3 share class), net of fees. Peer groupings of Threadneedle funds are defined by either IA or Morningstar index and are based on Primary Share Class. Comparisons to Index are measured Gross of Fees. | ||||||||||||||
| To calculate asset weighted performance, the sum of the total assets of the funds with above median ranking are divided by total assets of all funds. Funds with more assets will receive a greater share of the total percentage above or below median. | ||||||||||||||
| Aggregated Asset Allocation Funds may include funds that invest in other Columbia or Threadneedle branded mutual funds included in both equity and fixed income. | ||||||||||||||
| Morningstar as of 09/30/24. Columbia funds are available for purchase by U.S. customers. Out of 89 Columbia funds rated (based on primary share class), 4 received a 5-star Overall Rating and 42 received a 4-star Overall Rating. Out of 139 Threadneedle funds rated (based on highest-rated share class), 21 received a 5-star Overall Rating and 51 received a 4-star Overall Rating. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics. Not all funds are available in all jurisdictions, to all investors or through all firms. © 2024 Morningstar. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. | ||||||||||||||
15
| Ameriprise Financial, Inc. | ||||||||||||||||||||
| Retirement & Protection Solutions Segment Adjusted Operating Results | ||||||||||||||||||||
| (in millions, unaudited) | 3 Qtr 2024 | 3 Qtr 2023 | % Better/ (Worse) | 2 Qtr 2024 | % Better/ (Worse) | |||||||||||||||
| Revenues | ||||||||||||||||||||
| Management and financial advice fees | $ | 196 | $ | 186 | 5% | $ | 189 | NM | ||||||||||||
| Distribution fees | 106 | 101 | 5% | 104 | NM | |||||||||||||||
| Net investment income | 281 | 215 | 31% | 266 | NM | |||||||||||||||
| Premiums, policy and contract charges | 388 | 372 | 4% | 367 | NM | |||||||||||||||
| Other revenues | 2 | 2 | —% | 2 | —% | |||||||||||||||
| Total revenues | 973 | 876 | 11% | 928 | NM | |||||||||||||||
| Banking and deposit interest expense | — | — | —% | — | —% | |||||||||||||||
| Adjusted operating total net revenues | 973 | 876 | 11% | 928 | NM | |||||||||||||||
| Expenses | ||||||||||||||||||||
| Distribution expenses | 131 | 117 | (12)% | 129 | (2)% | |||||||||||||||
| Interest credited to fixed accounts | 92 | 94 | 2% | 93 | 1% | |||||||||||||||
| Benefits, claims, losses and settlement expenses | 253 | 168 | (51)% | 226 | (12)% | |||||||||||||||
| Remeasurement (gains) losses of future policy benefit reserves | (25) | (10) | NM | (5) | NM | |||||||||||||||
| Change in fair value of market risk benefits | 257 | 259 | 1% | 142 | (81)% | |||||||||||||||
| Amortization of deferred acquisition costs | 57 | 57 | —% | 57 | —% | |||||||||||||||
| Interest and debt expense | 11 | 12 | 8% | 12 | 8% | |||||||||||||||
| General and administrative expense | 79 | 79 | —% | 78 | (1)% | |||||||||||||||
| Adjusted operating expenses | 855 | 776 | (10)% | 732 | (17)% | |||||||||||||||
| Pretax adjusted operating earnings | $ | 118 | $ | 100 | 18% | $ | 196 | NM | ||||||||||||
| NM Not Meaningful - variance equal to or greater than 100% | ||||||||||||||||||||
16
| Ameriprise Financial, Inc. | ||||||||||||||||||||
| Retirement & Protection Solutions Segment Operating Metrics | ||||||||||||||||||||
| (in millions, unaudited) | 3 Qtr 2024 | 3 Qtr 2023 | % Better/ (Worse) | 2 Qtr 2024 | % Better/ (Worse) | |||||||||||||||
| Variable Annuities Rollforwards | ||||||||||||||||||||
| Beginning balance | $ | 84,534 | $ | 78,549 | 8% | $ | 84,042 | 1% | ||||||||||||
| Deposits | 1,231 | 1,087 | 13% | 1,364 | (10)% | |||||||||||||||
| Withdrawals and terminations | (2,190) | (1,736) | (26)% | (2,127) | (3)% | |||||||||||||||
| Net flows | (959) | (649) | (48)% | (763) | (26)% | |||||||||||||||
| Investment performance and interest credited | 4,078 | (2,816) | NM | 1,255 | NM | |||||||||||||||
| Total ending balance - contract accumulation values | $ | 87,653 | $ | 75,084 | 17% | $ | 84,534 | 4% | ||||||||||||
| Variable annuities fixed sub-accounts | $ | 3,837 | $ | 4,395 | (13)% | $ | 3,935 | (2)% | ||||||||||||
| Life Insurance In Force | $ | 198,198 | $ | 198,527 | —% | $ | 198,340 | —% | ||||||||||||
| Net Amount at Risk (Life) | $ | 37,895 | $ | 37,917 | —% | $ | 38,203 | (1)% | ||||||||||||
| Net Policyholder Reserves | ||||||||||||||||||||
| VUL/UL | $ | 15,984 | $ | 13,814 | 16% | $ | 15,475 | 3% | ||||||||||||
| Term and whole life | 182 | 175 | 4% | 174 | 5% | |||||||||||||||
| Disability insurance | 503 | 500 | 1% | 505 | —% | |||||||||||||||
| Other insurance | 513 | 542 | (5)% | 524 | (2)% | |||||||||||||||
| Total net policyholder reserves | $ | 17,182 | $ | 15,031 | 14% | $ | 16,678 | 3% | ||||||||||||
| DAC Ending Balances | ||||||||||||||||||||
| Variable Annuities DAC | $ | 1,684 | $ | 1,713 | (2)% | $ | 1,692 | —% | ||||||||||||
| Life and Health DAC | $ | 955 | $ | 963 | (1)% | $ | 956 | —% | ||||||||||||
| NM Not Meaningful - variance equal to or greater than 100% | ||||||||||||||||||||
17
| Ameriprise Financial, Inc. | ||||||||||||||||||||
| Corporate Segment Adjusted Operating Results and Metrics | ||||||||||||||||||||
| (in millions, unaudited) | 3 Qtr 2024 | 3 Qtr 2023 | % Better/ (Worse) | 2 Qtr 2024 | % Better/ (Worse) | |||||||||||||||
| Corporate Excluding Long Term Care and Fixed Annuities Adjusted Operating Income Statements | ||||||||||||||||||||
| Revenues | ||||||||||||||||||||
| Management and financial advice fees | $ | — | $ | — | —% | $ | — | —% | ||||||||||||
| Distribution fees | — | — | —% | — | —% | |||||||||||||||
| Net investment income | (4) | 17 | NM | (9) | 56% | |||||||||||||||
| Premiums, policy and contract charges | — | — | —% | — | —% | |||||||||||||||
| Other revenues | 1 | 2 | (50)% | 3 | (67)% | |||||||||||||||
| Total revenues | (3) | 19 | NM | (6) | 50% | |||||||||||||||
| Banking and deposit interest expense | 7 | 6 | (17)% | 7 | —% | |||||||||||||||
| Adjusted operating total net revenues | (10) | 13 | NM | (13) | 23% | |||||||||||||||
| Expenses | ||||||||||||||||||||
| Distribution expenses | — | — | —% | — | —% | |||||||||||||||
| Interest credited to fixed accounts | — | — | —% | — | —% | |||||||||||||||
| Benefits, claims, losses and settlement expenses | — | — | —% | — | —% | |||||||||||||||
| Remeasurement (gains) losses of future policy benefit reserves | — | — | —% | — | —% | |||||||||||||||
| Change in fair value of market risk benefits | — | — | —% | — | —% | |||||||||||||||
| Amortization of deferred acquisition costs | — | — | —% | — | —% | |||||||||||||||
| Interest and debt expense | 30 | 27 | (11)% | 24 | (25)% | |||||||||||||||
| General and administrative expense | 105 | 60 | (75)% | 86 | (22)% | |||||||||||||||
| Adjusted operating expenses | 135 | 87 | (55)% | 110 | (23)% | |||||||||||||||
| Pretax adjusted operating earnings (loss) | $ | (145) | $ | (74) | (96)% | $ | (123) | (18)% | ||||||||||||
| NM Not Meaningful - variance equal to or greater than 100% | ||||||||||||||||||||
18
| Ameriprise Financial, Inc. | ||||||||||||||||||||
| Corporate Segment Adjusted Operating Results and Metrics | ||||||||||||||||||||
| (in millions, unaudited) | 3 Qtr 2024 | 3 Qtr 2023 | % Better/ (Worse) | 2 Qtr 2024 | % Better/ (Worse) | |||||||||||||||
| Long Term Care Adjusted Operating Income Statements | ||||||||||||||||||||
| Revenues | ||||||||||||||||||||
| Management and financial advice fees | $ | — | $ | — | —% | $ | — | —% | ||||||||||||
| Distribution fees | — | — | —% | — | —% | |||||||||||||||
| Net investment income | 49 | 46 | 7% | 48 | 2% | |||||||||||||||
| Premiums, policy and contract charges | 24 | 25 | (4)% | 22 | 9% | |||||||||||||||
| Other revenues | — | — | —% | — | —% | |||||||||||||||
| Total revenues | 73 | 71 | 3% | 70 | 4% | |||||||||||||||
| Banking and deposit interest expense | 1 | — | —% | — | —% | |||||||||||||||
| Adjusted operating total net revenues | 72 | 71 | 1% | 70 | 3% | |||||||||||||||
| Expenses | ||||||||||||||||||||
| Distribution expenses | (4) | (3) | 33% | (2) | NM | |||||||||||||||
| Interest credited to fixed accounts | — | — | —% | — | —% | |||||||||||||||
| Benefits, claims, losses and settlement expenses | 56 | 58 | 3% | 56 | —% | |||||||||||||||
| Remeasurement (gains) losses of future policy benefit reserves | 3 | (2) | NM | (3) | NM | |||||||||||||||
| Change in fair value of market risk benefits | — | — | —% | — | —% | |||||||||||||||
| Amortization of deferred acquisition costs | — | — | —% | — | —% | |||||||||||||||
| Interest and debt expense | 2 | 1 | NM | 1 | NM | |||||||||||||||
| General and administrative expense | 6 | 7 | 14% | 6 | —% | |||||||||||||||
| Adjusted operating expenses | 63 | 61 | (3)% | 58 | (9)% | |||||||||||||||
| Pretax adjusted operating earnings (loss) | $ | 9 | $ | 10 | (10)% | $ | 12 | (25)% | ||||||||||||
| Long Term Care Policyholder Reserves, net of reinsurance | $ | 2,702 | $ | 2,456 | 10% | $ | 2,557 | 6% | ||||||||||||
| NM Not Meaningful - variance equal to or greater than 100% | ||||||||||||||||||||
19
| Ameriprise Financial, Inc. | ||||||||||||||||||||||||||
| Corporate Segment Adjusted Operating Results and Metrics | ||||||||||||||||||||||||||
| (in millions, unaudited) | 3 Qtr 2024 | 3 Qtr 2023 | % Better/ (Worse) | 2 Qtr 2024 | % Better/ (Worse) | |||||||||||||||||||||
| Fixed Annuities Adjusted Operating Income Statements | ||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||
| Management and financial advice fees | $ | — | $ | — | —% | $ | — | —% | ||||||||||||||||||
| Distribution fees | — | 1 | NM | — | —% | |||||||||||||||||||||
| Net investment income | 8 | 8 | —% | 8 | —% | |||||||||||||||||||||
| Premiums, policy and contract charges | — | — | —% | 1 | NM | |||||||||||||||||||||
| Other revenues | 44 | 50 | (12)% | 45 | (2)% | |||||||||||||||||||||
| Total revenues | 52 | 59 | (12)% | 54 | (4)% | |||||||||||||||||||||
| Banking and deposit interest expense | (1) | — | —% | — | —% | |||||||||||||||||||||
| Adjusted operating total net revenues | 53 | 59 | (10)% | 54 | (2)% | |||||||||||||||||||||
| Expenses | ||||||||||||||||||||||||||
| Distribution expenses | 1 | — | —% | — | —% | |||||||||||||||||||||
| Interest credited to fixed accounts | 55 | 59 | 7% | 54 | (2)% | |||||||||||||||||||||
| Benefits, claims, losses and settlement expenses | — | 1 | NM | 1 | NM | |||||||||||||||||||||
| Remeasurement (gains) losses of future policy benefit reserves | — | — | —% | — | —% | |||||||||||||||||||||
| Change in fair value of market risk benefits | — | — | —% | — | —% | |||||||||||||||||||||
| Amortization of deferred acquisition costs | — | 4 | NM | 3 | NM | |||||||||||||||||||||
| Interest and debt expense | — | — | —% | 1 | NM | |||||||||||||||||||||
| General and administrative expense | 4 | 3 | (33)% | 3 | (33)% | |||||||||||||||||||||
| Adjusted operating expenses | 60 | 67 | 10% | 62 | 3% | |||||||||||||||||||||
| Pretax adjusted operating earnings (loss) | $ | (7) | $ | (8) | 13% | $ | (8) | 13% | ||||||||||||||||||
| NM Not Meaningful - variance equal to or greater than 100% | ||||||||||||||||||||||||||
20
| Ameriprise Financial, Inc. | ||||||||||||||||||||
Eliminations (1) Adjusted Operating Results | ||||||||||||||||||||
| (in millions, unaudited) | 3 Qtr 2024 | 3 Qtr 2023 | % Better/ (Worse) | 2 Qtr 2024 | % Better/ (Worse) | |||||||||||||||
| Revenues | ||||||||||||||||||||
| Management and financial advice fees | $ | (40) | $ | (38) | (5)% | $ | (41) | 2% | ||||||||||||
| Distribution fees | (305) | (283) | (8)% | (303) | (1)% | |||||||||||||||
| Net investment income | (21) | (14) | (50)% | (15) | (40)% | |||||||||||||||
| Premiums, policy and contract charges | (9) | (8) | (13)% | (8) | (13)% | |||||||||||||||
| Other revenues | 1 | — | —% | — | —% | |||||||||||||||
| Total revenues | (374) | (343) | (9)% | (367) | (2)% | |||||||||||||||
| Banking and deposit interest expense | (7) | (6) | 17% | (7) | —% | |||||||||||||||
| Adjusted operating total net revenues | (367) | (337) | (9)% | (360) | (2)% | |||||||||||||||
| Expenses | ||||||||||||||||||||
| Distribution expenses | (327) | (304) | 8% | (324) | 1% | |||||||||||||||
| Interest credited to fixed accounts | — | — | —% | — | —% | |||||||||||||||
| Benefits, claims, losses and settlement expenses | (5) | (4) | 25% | (5) | —% | |||||||||||||||
| Remeasurement (gains) losses of future policy benefit reserves | — | — | —% | — | —% | |||||||||||||||
| Change in fair value of market risk benefits | — | — | —% | — | —% | |||||||||||||||
| Amortization of deferred acquisition costs | — | — | —% | — | —% | |||||||||||||||
| Interest and debt expense | (14) | (9) | 56% | (9) | 56% | |||||||||||||||
| General and administrative expense | (21) | (20) | 5% | (22) | (5)% | |||||||||||||||
| Adjusted operating expenses | (367) | (337) | 9% | (360) | 2% | |||||||||||||||
| Pretax adjusted operating earnings (loss) | $ | — | $ | — | —% | $ | — | —% | ||||||||||||
(1) The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses. | ||||||||||||||||||||
21
| Ameriprise Financial, Inc. | ||||||||||||||||||||
| Capital Information | ||||||||||||||||||||
| (in millions, unaudited) | September 30, 2024 | September 30, 2023 | June 30, 2024 | |||||||||||||||||
| Long-term Debt Summary | ||||||||||||||||||||
| Senior notes | $ | 3,400 | $ | 3,550 | $ | 3,400 | ||||||||||||||
| Finance lease liabilities | 11 | 22 | 15 | |||||||||||||||||
Other (1) | (17) | (15) | (19) | |||||||||||||||||
| Total Ameriprise Financial long-term debt | 3,394 | 3,557 | 3,396 | |||||||||||||||||
| Non-recourse debt of consolidated investment entities | 2,271 | 2,222 | 2,386 | |||||||||||||||||
| Total long-term debt | $ | 5,665 | $ | 5,779 | $ | 5,782 | ||||||||||||||
| Total Ameriprise Financial long-term debt | $ | 3,394 | $ | 3,557 | $ | 3,396 | ||||||||||||||
| Finance lease liabilities | (11) | (22) | (15) | |||||||||||||||||
Other (1) | 17 | 15 | 19 | |||||||||||||||||
| Total Ameriprise Financial long-term debt excluding finance lease liabilities and other | $ | 3,400 | $ | 3,550 | $ | 3,400 | ||||||||||||||
Total equity (2) | $ | 5,715 | $ | 3,825 | $ | 4,993 | ||||||||||||||
| Equity of consolidated investment entities | (1) | (10) | (1) | |||||||||||||||||
| Total equity excluding CIEs | $ | 5,714 | $ | 3,815 | $ | 4,992 | ||||||||||||||
| Total Ameriprise Financial capital | $ | 9,109 | $ | 7,382 | $ | 8,389 | ||||||||||||||
| Total Ameriprise Financial capital excluding finance lease liabilities, other and equity of CIEs | $ | 9,114 | $ | 7,365 | $ | 8,392 | ||||||||||||||
| Debt to capital | ||||||||||||||||||||
| Total Ameriprise Financial long-term debt to total Ameriprise Financial capital | 37.3 | % | 48.2 | % | 40.5 | % | ||||||||||||||
Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding finance lease liabilities, other and equity of CIEs (2) | 37.3 | % | 48.2 | % | 40.5 | % | ||||||||||||||
| Available Capital for Capital Adequacy | $ | 5,523 | $ | 5,247 | $ | 5,245 | ||||||||||||||
(1) Includes adjustments for net unamortized discounts, debt issuance costs and other lease obligations. | ||||||||||||||||||||
(2) Includes accumulated other comprehensive income, net of tax. | ||||||||||||||||||||
22
| Ameriprise Financial, Inc. | ||||||||||||||
| Consolidated Balance Sheets | ||||||||||||||
| (in millions, unaudited) | September 30, 2024 | December 31, 2023 | ||||||||||||
| Assets | ||||||||||||||
| Cash and cash equivalents | $ | 10,575 | $ | 7,477 | ||||||||||
| Cash of consolidated investment entities | 124 | 87 | ||||||||||||
| Investments | 56,703 | 55,489 | ||||||||||||
| Investments of consolidated investment entities | 2,243 | 2,099 | ||||||||||||
| Market risk benefits | 1,809 | 1,427 | ||||||||||||
| Separate account assets | 81,409 | 77,457 | ||||||||||||
| Receivables | 14,768 | 15,078 | ||||||||||||
| Receivables of consolidated investment entities | 18 | 28 | ||||||||||||
| Deferred acquisition costs | 2,686 | 2,713 | ||||||||||||
| Restricted and segregated cash and investments | 1,261 | 1,635 | ||||||||||||
| Other assets | 14,372 | 11,700 | ||||||||||||
| Other assets of consolidated investment entities | 1 | 1 | ||||||||||||
| Total Assets | $ | 185,969 | $ | 175,191 | ||||||||||
| Liabilities | ||||||||||||||
| Policyholder account balances, future policy benefits and claims | $ | 41,332 | $ | 37,545 | ||||||||||
| Market risk benefits | 1,579 | 1,762 | ||||||||||||
| Separate account liabilities | 81,409 | 77,457 | ||||||||||||
| Customer deposits | 36,332 | 37,321 | ||||||||||||
| Short-term borrowings | 201 | 201 | ||||||||||||
| Long-term debt | 3,394 | 3,399 | ||||||||||||
| Debt of consolidated investment entities | 2,271 | 2,155 | ||||||||||||
| Accounts payable and accrued expenses | 2,581 | 2,603 | ||||||||||||
| Other liabilities | 11,072 | 7,974 | ||||||||||||
| Other liabilities of consolidated investment entities | 83 | 45 | ||||||||||||
| Total Liabilities | 180,254 | 170,462 | ||||||||||||
| Equity | ||||||||||||||
| Ameriprise Financial | ||||||||||||||
| Common shares ($.01 par) | 3 | 3 | ||||||||||||
| Additional paid-in capital | 10,050 | 9,824 | ||||||||||||
| Retained earnings | 23,791 | 21,905 | ||||||||||||
| Treasury stock | (27,028) | (25,237) | ||||||||||||
| Accumulated other comprehensive income, net of tax | (1,101) | (1,766) | ||||||||||||
| Total Equity | 5,715 | 4,729 | ||||||||||||
| Total Liabilities and Equity | $ | 185,969 | $ | 175,191 | ||||||||||
| Supplemental Non-GAAP Information: | ||||||||||||||
| Available Capital for Capital Adequacy | $ | 5,523 | $ | 5,418 | ||||||||||
23
| Ameriprise Financial, Inc. | |||||||||||||||||||||||||||||||||||
| Reconciliation Table: Earnings | |||||||||||||||||||||||||||||||||||
| Quarter Ended September 30, | % Better/ (Worse) | Per Diluted Share Quarter Ended September 30, | % Better/ (Worse) | ||||||||||||||||||||||||||||||||
| (in millions, except per share amounts, unaudited) | 2024 | 2023 | 2024 | 2023 | |||||||||||||||||||||||||||||||
| Net income | $ | 511 | $ | 872 | (41)% | $ | 5.00 | $ | 8.14 | (39)% | |||||||||||||||||||||||||
| Adjustments: | |||||||||||||||||||||||||||||||||||
Net realized investment gains (losses) (1) | (6) | (38) | (0.06) | (0.35) | |||||||||||||||||||||||||||||||
Market impact on non-traditional long-duration products (1) | (402) | 211 | (3.93) | 1.96 | |||||||||||||||||||||||||||||||
Mean reversion-related impacts (1) | 1 | — | 0.01 | — | |||||||||||||||||||||||||||||||
Integration/restructuring charges (1) | — | (12) | — | (0.11) | |||||||||||||||||||||||||||||||
| Net income (loss) attributable to consolidated investment entities | 5 | — | 0.05 | — | |||||||||||||||||||||||||||||||
Tax effect of adjustments (2) | 85 | (34) | 0.83 | (0.32) | |||||||||||||||||||||||||||||||
| Adjusted operating earnings | $ | 828 | $ | 745 | 11% | $ | 8.10 | $ | 6.96 | 16% | |||||||||||||||||||||||||
| Pretax impact of annual unlocking | (94) | (99) | (0.92) | (0.92) | |||||||||||||||||||||||||||||||
Tax effect of annual unlocking (2) | 20 | 21 | 0.19 | 0.20 | |||||||||||||||||||||||||||||||
| Adjusted operating earnings excluding unlocking | $ | 902 | $ | 823 | 10% | $ | 8.83 | $ | 7.68 | 15% | |||||||||||||||||||||||||
| Pretax impact of severance expense | (24) | (7) | (0.24) | (0.07) | |||||||||||||||||||||||||||||||
| Tax effect of severance expense | 5 | 1 | 0.05 | 0.01 | |||||||||||||||||||||||||||||||
| Adjusted operating earnings excluding unlocking and severance expense | $ | 921 | $ | 829 | 11% | $ | 9.02 | $ | 7.74 | 17% | |||||||||||||||||||||||||
| Weighted average common shares outstanding: | |||||||||||||||||||||||||||||||||||
| Basic | 100.4 | 104.9 | |||||||||||||||||||||||||||||||||
| Diluted | 102.2 | 107.1 | |||||||||||||||||||||||||||||||||
(1) Pretax adjusted operating adjustment. | |||||||||||||||||||||||||||||||||||
(2) Calculated using the statutory tax rate of 21%. | |||||||||||||||||||||||||||||||||||
24
| Ameriprise Financial, Inc. | |||||||||||||||||||||||||||||||||||
| Reconciliation Table: Earnings | |||||||||||||||||||||||||||||||||||
| Year-to-date September 30, | % Better/ (Worse) | Per Diluted Share Year-to-date September 30, | % Better/ (Worse) | ||||||||||||||||||||||||||||||||
| (in millions, except per share amounts, unaudited) | 2024 | 2023 | 2024 | 2023 | |||||||||||||||||||||||||||||||
| Net income | $ | 2,330 | $ | 2,179 | 7% | $ | 22.53 | $ | 20.08 | 12% | |||||||||||||||||||||||||
| Adjustments: | |||||||||||||||||||||||||||||||||||
Net realized investment gains (losses) (1) | (9) | (32) | (0.09) | (0.29) | |||||||||||||||||||||||||||||||
Market impact on non-traditional long-duration products (1) | (322) | (137) | (3.11) | (1.27) | |||||||||||||||||||||||||||||||
Mean reversion-related impacts (1) | 1 | — | 0.01 | — | |||||||||||||||||||||||||||||||
Integration/restructuring charges (1) | — | (47) | — | (0.43) | |||||||||||||||||||||||||||||||
| Net income (loss) attributable to consolidated investment entities | 3 | — | 0.03 | — | |||||||||||||||||||||||||||||||
Tax effect of adjustments (2) | 69 | 45 | 0.66 | 0.41 | |||||||||||||||||||||||||||||||
| Adjusted operating earnings | $ | 2,588 | $ | 2,350 | 10% | $ | 25.03 | $ | 21.66 | 16% | |||||||||||||||||||||||||
| Pretax impact of annual unlocking | (94) | (99) | (0.91) | (0.91) | |||||||||||||||||||||||||||||||
Tax effect of annual unlocking (2) | 20 | 21 | 0.20 | 0.19 | |||||||||||||||||||||||||||||||
| Adjusted operating earnings excluding unlocking | $ | 2,662 | $ | 2,428 | 10% | $ | 25.74 | $ | 22.38 | 15% | |||||||||||||||||||||||||
| Pretax impact of severance expense | (54) | (7) | (0.52) | (0.06) | |||||||||||||||||||||||||||||||
Tax effect of severance expense (2) | 11 | 1 | 0.11 | 0.01 | |||||||||||||||||||||||||||||||
| Adjusted operating earnings excluding unlocking and severance expense | $ | 2,705 | $ | 2,434 | 11% | $ | 26.15 | $ | 22.43 | 17% | |||||||||||||||||||||||||
| Weighted average common shares outstanding: | |||||||||||||||||||||||||||||||||||
| Basic | 101.6 | 106.4 | |||||||||||||||||||||||||||||||||
| Diluted | 103.4 | 108.5 | |||||||||||||||||||||||||||||||||
(1) Pretax adjusted operating adjustment. | |||||||||||||||||||||||||||||||||||
(2) Calculated using the statutory tax rate of 21%. | |||||||||||||||||||||||||||||||||||
25
| Ameriprise Financial, Inc. | ||||||||||||||
Reconciliation Table: Pretax Adjusted Operating Earnings | ||||||||||||||
| Quarter Ended September 30, | ||||||||||||||
| (in millions, unaudited) | 2024 | 2023 | ||||||||||||
| Total net revenues | $ | 4,397 | $ | 3,925 | ||||||||||
| Adjustments: | ||||||||||||||
| Net realized investment gains (losses) | (6) | (38) | ||||||||||||
| Market impact on non-traditional long-duration products | 5 | 3 | ||||||||||||
| CIEs revenue | 53 | 45 | ||||||||||||
| Adjusted operating total net revenues | $ | 4,345 | $ | 3,915 | ||||||||||
| Annual unlocking | (5) | 1 | ||||||||||||
| Adjusted operating total net revenues excluding unlocking | $ | 4,350 | $ | 3,914 | ||||||||||
| Total expenses | $ | 3,752 | $ | 2,808 | ||||||||||
| Adjustments: | ||||||||||||||
| CIEs expenses | 47 | 45 | ||||||||||||
| Integration/restructuring charges | — | 12 | ||||||||||||
| Market impact on non-traditional long-duration products | 407 | (208) | ||||||||||||
| Mean reversion-related impacts | (1) | — | ||||||||||||
| Adjusted operating expenses | $ | 3,299 | $ | 2,959 | ||||||||||
| Annual unlocking | 89 | 100 | ||||||||||||
| Adjusted operating total net expenses excluding unlocking | $ | 3,210 | $ | 2,859 | ||||||||||
| Severance expense | 24 | 7 | ||||||||||||
| Adjusted operating total net expenses excluding unlocking and severance expense | $ | 3,186 | $ | 2,852 | ||||||||||
| Pretax income | $ | 645 | $ | 1,117 | ||||||||||
| Pretax adjusted operating earnings | $ | 1,046 | $ | 956 | ||||||||||
| Pretax adjusted operating earnings excluding unlocking and severance expense | $ | 1,164 | $ | 1,062 | ||||||||||
| Pretax income margin | 14.7 | % | 28.5 | % | ||||||||||
| Pretax adjusted operating margin | 24.1 | % | 24.4 | % | ||||||||||
| Pretax adjusted operating margin excluding unlocking and severance expense | 26.8 | % | 27.1 | % | ||||||||||
26
| Ameriprise Financial, Inc. | ||||||||||||||||||||
| Reconciliation Table: Available Capital for Capital Adequacy | ||||||||||||||||||||
| (in millions, unaudited) | September 30, 2024 | September 30, 2023 | June 30, 2024 | |||||||||||||||||
| Ameriprise Financial GAAP Equity | $ | 5,715 | $ | 3,825 | $ | 4,993 | ||||||||||||||
| Less: AOCI | (1,101) | (2,840) | (1,993) | |||||||||||||||||
| Ameriprise Financial GAAP Equity, excl AOCI | 6,816 | 6,665 | 6,986 | |||||||||||||||||
| Less: RiverSource Life Insurance Co. GAAP Equity, excluding AOCI | 1,658 | 2,084 | 2,012 | |||||||||||||||||
| Add: RiverSource Life Insurance Co. statutory total adjusted capital | 2,721 | 2,842 | 2,598 | |||||||||||||||||
| Less: Goodwill and intangibles | 2,626 | 2,487 | 2,595 | |||||||||||||||||
| Add: Other adjustments | 270 | 311 | 268 | |||||||||||||||||
| Available Capital for Capital Adequacy | $ | 5,523 | $ | 5,247 | $ | 5,245 | ||||||||||||||
| Ameriprise Financial, Inc. | ||||||||||||||
| Reconciliation Table: Effective Tax Rate | ||||||||||||||
| Quarter Ended September 30, 2023 | ||||||||||||||
| (in millions, unaudited) | GAAP | Adjusted Operating | ||||||||||||
| Pretax income | $ | 1,117 | $ | 956 | ||||||||||
| Income tax provision | $ | 245 | $ | 211 | ||||||||||
| Effective tax rate | 21.8 | % | 22.1 | % | ||||||||||
| Ameriprise Financial, Inc. | ||||||||||||||
| Reconciliation Table: Effective Tax Rate | ||||||||||||||
| Quarter Ended September 30, 2024 | ||||||||||||||
| (in millions, unaudited) | GAAP | Adjusted Operating | ||||||||||||
| Pretax income | $ | 645 | $ | 1,046 | ||||||||||
| Income tax provision | $ | 134 | $ | 218 | ||||||||||
| Effective tax rate | 20.7 | % | 20.8 | % | ||||||||||
27
| Ameriprise Financial, Inc. | ||||||||||||||
| Reconciliation Table: Effective Tax Rate | ||||||||||||||
| Year-to-date September 30, 2024 | ||||||||||||||
| (in millions, unaudited) | GAAP | Adjusted Operating | ||||||||||||
| Pretax income | $ | 2,915 | $ | 3,241 | ||||||||||
| Income tax provision | $ | 585 | $ | 653 | ||||||||||
| Effective tax rate | 20.0 | % | 20.1 | % | ||||||||||
| Ameriprise Financial, Inc. | |||||||||||||||||
Reconciliation Table: Advice & Wealth Management General and Administrative Expense | |||||||||||||||||
| Quarter Ended September 30, | % Better/ (Worse) | ||||||||||||||||
| (in millions, unaudited) | 2024 | 2023 | |||||||||||||||
| AWM general and administrative expense | $ | 419 | $ | 419 | —% | ||||||||||||
| Less: Regulatory accrual | — | 20 | |||||||||||||||
| AWM general and administrative expense excluding accrual for regulatory matter | $ | 419 | $ | 399 | (5)% | ||||||||||||
28
| Ameriprise Financial, Inc. | |||||||||||||||||
| Reconciliation Table: Return on Equity (ROE) Excluding Accumulated Other Comprehensive Income “AOCI” | |||||||||||||||||
| Twelve Months Ended September 30, | |||||||||||||||||
| (in millions, unaudited) | 2024 | 2023 | |||||||||||||||
| Net income | $ | 2,707 | $ | 2,828 | |||||||||||||
Less: Adjustments (1) | (642) | (254) | |||||||||||||||
| Adjusted operating earnings | 3,349 | 3,082 | |||||||||||||||
Less: Annual unlocking (2) | (74) | (78) | |||||||||||||||
Adjusted operating earnings excluding unlocking | $ | 3,423 | $ | 3,160 | |||||||||||||
| Total Ameriprise Financial, Inc. shareholders’ equity | $ | 4,828 | $ | 3,894 | |||||||||||||
| Less: Accumulated other comprehensive income, net of tax | (1,926) | (2,477) | |||||||||||||||
| Total Ameriprise Financial, Inc. shareholders’ equity excluding AOCI | 6,754 | 6,371 | |||||||||||||||
| Less: Equity impacts attributable to the consolidated investment entities | (3) | (3) | |||||||||||||||
| Adjusted operating equity | $ | 6,757 | $ | 6,374 | |||||||||||||
| Return on equity excluding AOCI | 40.1 | % | 44.4 | % | |||||||||||||
Adjusted operating return on equity excluding AOCI (3) | 49.6 | % | 48.4 | % | |||||||||||||
Adjusted operating return on equity excluding AOCI and unlocking (3) | 50.7 | % | 49.6 | % | |||||||||||||
(1) Adjustments reflect the sum of after-tax net realized investment gains/losses, net of the reinsurance accrual; the market impact on non-traditional long-duration products (including variable and fixed deferred annuity contracts and UL insurance contracts), net of hedges and related reinsurance accrual; mean reversion related impacts; block transfer reinsurance transaction impacts; the market impact of hedges to offset interest rate and currency changes on unrealized gains or losses for certain investments; gain or loss on disposal of a business that is not considered discontinued operations; integration and restructuring charges; income (loss) from discontinued operations; and net income (loss) from consolidated 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 AOCI is calculated using adjusted operating earnings 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%. | |||||||||||||||||
29