- Ameriprise Financial transferred its 50% ownership interest in American Express International Deposit Company (AEIDC) to American Express Company as part of its separation agreement. The assets, liabilities, and operations of AEIDC are now reported as discontinued operations.
- Information for prior periods has been restated to conform to this presentation of AEIDC as discontinued operations.
- The quarterly statistical supplement provides consolidated financial statements and selected financial information for Ameriprise Financial for the periods ended September 30, 2005.
The document is Ameriprise Financial's quarterly statistical supplement for the fourth quarter of 2005. Some key points:
- In August 2005, Ameriprise transferred its 50% ownership of American Express International Deposit Company to American Express Company as part of its separation agreement.
- Net income for Q4 2005 was $111 million, a 53% decrease from Q4 2004, driven largely by separation costs related to the spin-off from American Express.
- Earnings per share (EPS) before separation costs, discontinued operations, and accounting changes was $0.77 for Q4 2005, down 16% from $0.92 in Q4 2004.
The document provides financial information for Ameriprise Financial, Inc. for the second quarter of 2005. Some key details include:
- Total revenues for the quarter were $1.964 billion, a 10% increase from the same quarter last year.
- Net income for the quarter was $155 million, a 17% decrease from the prior year quarter.
- Total assets under management were $95.952 billion as of June 30, 2005, up from $87.591 billion a year earlier.
- Book value per share was $28.20 as of June 30, 2005, a 6% increase from the prior year quarter.
Ameriprise Financial reported third quarter earnings for the first time as a public company following its spin off from American Express. Net income before discontinued operations was $123 million, down 35% year-over-year. Adjusted earnings, which exclude certain items, increased 11% to $179 million. Revenues grew 9% to $1.9 billion due to increases in management fees and distribution fees. Expenses increased due to separation costs related to the spin off from American Express.
This document is DTE Energy Company's consolidated statement of operations and balance sheet for the third quarter and first nine months of 2003 compared to the same periods in 2002. Some key highlights include:
- Operating revenues for the third quarter were flat while revenues for the first nine months increased 6% year-over-year.
- Operating expenses increased for both the third quarter and first nine months, driven mainly by higher fuel and purchased power costs.
- Net income for the third quarter increased 9% compared to 2002, while net income for the first nine months decreased 32% year-over-year.
- Total assets increased 4% from December 31, 2002 to September 30, 2003, with increases in several current asset
This document provides an overview of Duke Energy's 2004 annual report. It discusses Duke Energy's objectives for 2004 including generating cash, reducing debt, preserving dividends, resizing assets, improving safety, and restoring credibility. The chairman highlights accomplishments like exceeding financial targets, reducing debt, and stabilizing credit ratings. However, safety failures and an operational incident are noted as disappointments. Unfinished business is also mentioned, like developing a sustainable business model for Duke Energy North America. The chairman expresses optimism for 2005 while pursuing growth and leadership in the industry.
This 2003 annual report summarizes Cummins' financial performance and business highlights for 2003. Some key points:
- Sales increased 8% to $6.3 billion compared to 2002, with net earnings of $50 million.
- The engine business had sales of $3.6 billion, up 6% from 2002. Power generation sales were $1.3 billion, up 8% despite challenging market conditions. Filtration and other business sales reached a record $1.1 billion, up 11%.
- New partnerships and supply agreements were signed to expand the company's customer base. International joint ventures also grew, particularly in China and Asia.
- While markets remained difficult, the company focused on cost
- ConocoPhillips reported financial results for the third quarter and first nine months of 2006. Total revenues were $49.6 billion for Q3 2006 and $146 billion for the first nine months of the year.
- Net income was $3.9 billion for Q3 2006, comparable to $3.8 billion for the same period in 2005. For the first nine months, net income was $12.4 billion in 2006 compared to $9.9 billion in 2005.
- Earnings per share on a diluted basis were $2.31 for Q3 2006 and $7.78 for the first nine months of 2006.
This document provides financial highlights and operating data for ConocoPhillips for the fourth quarter and full year 2006 compared to 2005. Some key details:
- Revenues for Q4 2006 were $42.5 billion compared to $52.2 billion for Q4 2005. Full year revenues were $188.5 billion in 2006 versus $183.4 billion in 2005.
- Net income for Q4 2006 was $3.2 billion compared to $3.7 billion for Q4 2005. Full year net income was $15.6 billion in 2006 versus $13.5 billion in 2005.
- Average daily oil and gas production for Q4 2006 was 859 thousand barrels of oil equivalent for consolidated
The document is Ameriprise Financial's quarterly statistical supplement for the fourth quarter of 2005. Some key points:
- In August 2005, Ameriprise transferred its 50% ownership of American Express International Deposit Company to American Express Company as part of its separation agreement.
- Net income for Q4 2005 was $111 million, a 53% decrease from Q4 2004, driven largely by separation costs related to the spin-off from American Express.
- Earnings per share (EPS) before separation costs, discontinued operations, and accounting changes was $0.77 for Q4 2005, down 16% from $0.92 in Q4 2004.
The document provides financial information for Ameriprise Financial, Inc. for the second quarter of 2005. Some key details include:
- Total revenues for the quarter were $1.964 billion, a 10% increase from the same quarter last year.
- Net income for the quarter was $155 million, a 17% decrease from the prior year quarter.
- Total assets under management were $95.952 billion as of June 30, 2005, up from $87.591 billion a year earlier.
- Book value per share was $28.20 as of June 30, 2005, a 6% increase from the prior year quarter.
Ameriprise Financial reported third quarter earnings for the first time as a public company following its spin off from American Express. Net income before discontinued operations was $123 million, down 35% year-over-year. Adjusted earnings, which exclude certain items, increased 11% to $179 million. Revenues grew 9% to $1.9 billion due to increases in management fees and distribution fees. Expenses increased due to separation costs related to the spin off from American Express.
This document is DTE Energy Company's consolidated statement of operations and balance sheet for the third quarter and first nine months of 2003 compared to the same periods in 2002. Some key highlights include:
- Operating revenues for the third quarter were flat while revenues for the first nine months increased 6% year-over-year.
- Operating expenses increased for both the third quarter and first nine months, driven mainly by higher fuel and purchased power costs.
- Net income for the third quarter increased 9% compared to 2002, while net income for the first nine months decreased 32% year-over-year.
- Total assets increased 4% from December 31, 2002 to September 30, 2003, with increases in several current asset
This document provides an overview of Duke Energy's 2004 annual report. It discusses Duke Energy's objectives for 2004 including generating cash, reducing debt, preserving dividends, resizing assets, improving safety, and restoring credibility. The chairman highlights accomplishments like exceeding financial targets, reducing debt, and stabilizing credit ratings. However, safety failures and an operational incident are noted as disappointments. Unfinished business is also mentioned, like developing a sustainable business model for Duke Energy North America. The chairman expresses optimism for 2005 while pursuing growth and leadership in the industry.
This 2003 annual report summarizes Cummins' financial performance and business highlights for 2003. Some key points:
- Sales increased 8% to $6.3 billion compared to 2002, with net earnings of $50 million.
- The engine business had sales of $3.6 billion, up 6% from 2002. Power generation sales were $1.3 billion, up 8% despite challenging market conditions. Filtration and other business sales reached a record $1.1 billion, up 11%.
- New partnerships and supply agreements were signed to expand the company's customer base. International joint ventures also grew, particularly in China and Asia.
- While markets remained difficult, the company focused on cost
- ConocoPhillips reported financial results for the third quarter and first nine months of 2006. Total revenues were $49.6 billion for Q3 2006 and $146 billion for the first nine months of the year.
- Net income was $3.9 billion for Q3 2006, comparable to $3.8 billion for the same period in 2005. For the first nine months, net income was $12.4 billion in 2006 compared to $9.9 billion in 2005.
- Earnings per share on a diluted basis were $2.31 for Q3 2006 and $7.78 for the first nine months of 2006.
This document provides financial highlights and operating data for ConocoPhillips for the fourth quarter and full year 2006 compared to 2005. Some key details:
- Revenues for Q4 2006 were $42.5 billion compared to $52.2 billion for Q4 2005. Full year revenues were $188.5 billion in 2006 versus $183.4 billion in 2005.
- Net income for Q4 2006 was $3.2 billion compared to $3.7 billion for Q4 2005. Full year net income was $15.6 billion in 2006 versus $13.5 billion in 2005.
- Average daily oil and gas production for Q4 2006 was 859 thousand barrels of oil equivalent for consolidated
- ConocoPhillips reported revenues of $48.5 billion for the second quarter of 2006, up 14% from the same period in 2005. Net income was $5.2 billion, up 66% from $3.1 billion in 2005.
- Earnings per share increased to $3.09 per share from $2.21 per share in 2005. Production volumes increased across oil, natural gas, and natural gas liquids.
- Capital expenditures totaled $3.4 billion for the quarter, up 9% from 2005, primarily directed towards expanding E&P operations internationally and upgrading refineries.
The document provides an interim financial and operational report for Rank Group. Key points include:
- Revenue and profits declined in the first half of 2008 compared to 2007 due to regulatory changes impacting the gaming industry. However, results improved compared to the second half of 2007.
- Bingo revenues declined due to lower admissions and spend per customer at Mecca Bingo. Casino revenues also fell.
- The company aims to stabilize revenue, reduce costs, grow customer visits through improved products, services and distribution, and expand selectively.
- Challenging market conditions and a cautious outlook for consumers are expected in the short-term, but gaming is seen as shifting increasingly into mainstream leisure over the medium-
DTE Energy reported financial results for the fourth quarter and full year 1999. For the quarter, operating revenues increased 10.1% to $1.1 billion but net income decreased 9.3% to $97 million due to higher fuel and operating costs. For the full year, operating revenues rose 12.0% to $4.7 billion while net income grew 9.0% to $483 million due to increased industrial sales and non-regulated business income, partially offset by higher fuel expenses. Cash from operating activities totaled $1.1 billion for 1999.
credit-suisse Annual Report Part 1 Performance of Credit Suisse Group sharesQuarterlyEarningsReports2
Credit Suisse, which serves Swiss corporate and individual customers, posted net operating income of CHF 2.7 billion in 1996. However, it recorded a pre-tax operating loss of CHF 950 million due to high provisions and an unsatisfactory cost structure. The document provides an annual report for Credit Suisse Group that includes performance highlights for 1996, details on the new organizational structure consisting of four business units, and pro forma accounts for each business unit.
The document provides operating statistics for El Paso Corporation for the second quarter of 2006. It shows that consolidated net income was $150 million for the quarter. It also provides key financial data broken down by each of El Paso's business segments, including Pipelines, Exploration and Production, Marketing and Trading, Power and Field Services. For the Pipelines segment, earnings before interest and taxes was $335 million for the quarter, with total pipeline throughput of 18.154 billion cubic feet per day.
Enel reported its interim results for the first half of 2009. EBITDA increased 8.4% compared to the same period in 2008, driven by higher margins in generation in Italy and positive contributions from international operations. Net income increased 28.7% due to improved operating results and lower net financial charges. Net debt increased 11.6% primarily due to dividends paid and acquisitions, partly offset by cash flow from operations. Forward electricity sales for 2010 currently average around 60% of total production, providing earnings visibility.
This document is the consolidated statement of operations and financial position for DTE Energy Company and its subsidiaries for the fourth quarter and full year of 2003. Some key highlights include:
- For the full year 2003, net income was $521 million compared to $586 million in 2002, a decrease of 18%. Earnings per diluted share were $3.09 compared to $3.55 in 2002, a decrease of 13%.
- For the fourth quarter of 2003, net income was $229 million compared to $203 million in 2002, an increase of 13%. Earnings per diluted share were $1.36 compared to $1.21 in 2002, an increase of 13%.
- Total operating revenues
DTE Energy reported a 20% increase in net income for the first quarter of 2004 compared to the same period in 2003. Operating expenses decreased 8% due to lower fuel and operation and maintenance costs. Operating income increased 68% while income from continuing operations rose 79%. Earnings per share from continuing operations were $1.14 for Q1 2004 compared to $0.65 for Q1 2003, an increase of 75%. Significant special items impacting comparability between the periods included a $0.28 per share benefit from a pipeline contract termination in 2004.
Color Group ASA is the parent company of Color Line AS, Norway's largest short-sea shipping company operating ferries between Norway, Germany, Denmark, and Sweden. In 2008, Color Line underwent a strategic reorganization that reduced its fleet from ten to six ships and services from six to four. Despite reductions in capacity, total passenger and freight volumes increased on the company's routes. Color Line also improved its online presence and marketing efforts to boost tourism between Norway and neighboring countries. As part of preparing for future growth, Color Line has invested heavily in modernizing its fleet with environmentally-friendly ships.
This document is BB&T Corporation's 2005 annual report. It provides financial highlights for 2005, noting that net income increased 6.1% to $1.654 billion and diluted earnings per share grew 7.1% to $3.00. Operating earnings rose 7.2% to $1.674 billion. Cash basis operating earnings, which exclude intangible assets and purchase accounting adjustments, increased 7.1% to $1.763 billion. The report discusses BB&T's strong loan, deposit and balance sheet growth in 2005 and notes the bank hired additional revenue producers and implemented strategies to boost organic account growth.
- The Clorox Company reported net sales of $1.353 billion for the third quarter of fiscal year 2008, a 9% increase from $1.241 billion in the third quarter of the previous fiscal year.
- Earnings from continuing operations were $100 million, down 22% from $129 million in the third quarter of fiscal year 2007.
- For the first nine months of fiscal year 2008, net sales increased 8% to $3.778 billion compared to $3.503 billion for the same period last year, while earnings from continuing operations fell 10% to $303 million.
- BB&T Corporation reported lower operating earnings for the fourth quarter of 2008 compared to the same period in 2007. Operating earnings available to common shareholders decreased 41.4% to $243 million.
- Net interest income increased 14.2% to $1,132 million due to higher interest income, but this was more than offset by a large increase in the provision for credit losses of $344 million.
- Returns and profitability ratios declined from the prior year, with the return on average common equity decreasing to 7.26% and the efficiency ratio worsening to 51.9%.
The document provides operating statistics for El Paso Corporation for the second quarter of 2008. It includes consolidated statements of income, consolidated operating results, and business segment results for Pipelines, Exploration and Production, Marketing, and Power. The Pipelines segment saw a decrease in throughput compared to the first quarter but an increase compared to the same period last year. The Exploration and Production segment saw higher earnings before interest and taxes compared to both periods last year. Overall, the company saw higher earnings from continuing operations compared to the same period last year.
1. The document is State Street Corporation's 2002 Financial Review, which includes selected financial data from 1998-2002, management's discussion and analysis of financial results, and audited consolidated financial statements.
2. Key financial highlights from the selected data include total fee revenue increasing to $2.85 billion in 2002 from $2.01 billion in 1998, and net income increasing to $1.015 billion in 2002 from $436 million in 1998, with basic earnings per share reaching $3.14 in 2002.
3. The financial review provides operating results supplemental to the GAAP consolidated financial statements to allow for comparison of ongoing business activities and trends across periods.
This document provides State Street Corporation's 2002 financial review, including selected financial data and management's discussion and analysis. Key points:
1) Net income was $1.015 billion, up $387 million from 2001, driven largely by a $495 million gain from selling the corporate trust business. Adjusting for non-operating items, net income rose $32 million.
2) Earnings per share were $3.10, up from $1.90 in 2001. Excluding non-operating items, EPS rose from $2.08 to $2.20.
3) Total revenue increased $569 million to $4.396 billion, as the company expanded its product offerings and client base despite
This document is Morgan Stanley's annual report for fiscal year 2001. It provides the following key information in 3 sentences:
Morgan Stanley's net income for 2001 was $3.6 billion, a 34% decline from 2000, with earnings per share of $3.19, down 33%. Despite the difficult market environment, Morgan Stanley achieved a strong 19% return on equity through expense control and business diversification. The report discusses Morgan Stanley's financial results, the challenges of the difficult market in 2001, and its continued focus on reorganizing around serving clients.
Energy East Corporation announced its second quarter 2008 financial results, reporting earnings per share of $0.10, down from $0.12 in the second quarter of 2007. For the 12 months ended June 30, 2008, earnings per share were $1.56, lower than the $1.68 per share earned in the same period in 2007. The results included a $0.02 per share charge from Central Maine Power Company's new rate plan. Regulatory approval for Energy East's acquisition by Iberdrola was received from all agencies except the New York Public Service Commission, whose decision is still pending.
Energy East Corporation announced its second quarter 2008 financial results, reporting earnings per share of $0.10, down from $0.12 in the second quarter of 2007. For the 12 months ended June 30, 2008, earnings per share were $1.56, lower than the $1.68 per share earned in the same period in 2007. Results for the quarter included a $0.02 per share charge from Central Maine Power Company's new rate plan. Regulatory approval for Energy East's acquisition by Iberdrola was received from all agencies except the New York Public Service Commission, whose decision is still pending.
ConocoPhillips reported financial highlights for the second quarter of 2004 including revenues of $31.9 billion and net income of $2.1 billion. Earnings per share were $3.01 for the quarter. The company experienced higher crude oil and natural gas sales prices and volumes compared to the prior year. However, costs and expenses also increased, including purchases of crude oil and products, production and operating expenses, and taxes.
- ConocoPhillips reported revenues of $34.7 billion for Q3 2004, up from $26.5 billion in Q3 2003, and net income of $2 billion, up from $1.3 billion.
- Earnings per share for Q3 2004 were $2.86, up from $1.90 in Q3 2003.
- Oil and gas production volumes were up slightly from Q3 2003, with crude oil production of 733 thousand barrels per day consolidated and 844 thousand barrels per day total.
Bank of America reported second quarter 2007 results. Net income was $5.8 billion, up 4% from the previous year. Revenue increased 8% due to strong noninterest income growth across all business lines. Credit quality remained sound although provision expenses increased due to reserve builds. The company continued to see increases in deposits, assets under management, retail sales and checking account openings.
- ConocoPhillips reported revenues of $48.5 billion for the second quarter of 2006, up 14% from the same period in 2005. Net income was $5.2 billion, up 66% from $3.1 billion in 2005.
- Earnings per share increased to $3.09 per share from $2.21 per share in 2005. Production volumes increased across oil, natural gas, and natural gas liquids.
- Capital expenditures totaled $3.4 billion for the quarter, up 9% from 2005, primarily directed towards expanding E&P operations internationally and upgrading refineries.
The document provides an interim financial and operational report for Rank Group. Key points include:
- Revenue and profits declined in the first half of 2008 compared to 2007 due to regulatory changes impacting the gaming industry. However, results improved compared to the second half of 2007.
- Bingo revenues declined due to lower admissions and spend per customer at Mecca Bingo. Casino revenues also fell.
- The company aims to stabilize revenue, reduce costs, grow customer visits through improved products, services and distribution, and expand selectively.
- Challenging market conditions and a cautious outlook for consumers are expected in the short-term, but gaming is seen as shifting increasingly into mainstream leisure over the medium-
DTE Energy reported financial results for the fourth quarter and full year 1999. For the quarter, operating revenues increased 10.1% to $1.1 billion but net income decreased 9.3% to $97 million due to higher fuel and operating costs. For the full year, operating revenues rose 12.0% to $4.7 billion while net income grew 9.0% to $483 million due to increased industrial sales and non-regulated business income, partially offset by higher fuel expenses. Cash from operating activities totaled $1.1 billion for 1999.
credit-suisse Annual Report Part 1 Performance of Credit Suisse Group sharesQuarterlyEarningsReports2
Credit Suisse, which serves Swiss corporate and individual customers, posted net operating income of CHF 2.7 billion in 1996. However, it recorded a pre-tax operating loss of CHF 950 million due to high provisions and an unsatisfactory cost structure. The document provides an annual report for Credit Suisse Group that includes performance highlights for 1996, details on the new organizational structure consisting of four business units, and pro forma accounts for each business unit.
The document provides operating statistics for El Paso Corporation for the second quarter of 2006. It shows that consolidated net income was $150 million for the quarter. It also provides key financial data broken down by each of El Paso's business segments, including Pipelines, Exploration and Production, Marketing and Trading, Power and Field Services. For the Pipelines segment, earnings before interest and taxes was $335 million for the quarter, with total pipeline throughput of 18.154 billion cubic feet per day.
Enel reported its interim results for the first half of 2009. EBITDA increased 8.4% compared to the same period in 2008, driven by higher margins in generation in Italy and positive contributions from international operations. Net income increased 28.7% due to improved operating results and lower net financial charges. Net debt increased 11.6% primarily due to dividends paid and acquisitions, partly offset by cash flow from operations. Forward electricity sales for 2010 currently average around 60% of total production, providing earnings visibility.
This document is the consolidated statement of operations and financial position for DTE Energy Company and its subsidiaries for the fourth quarter and full year of 2003. Some key highlights include:
- For the full year 2003, net income was $521 million compared to $586 million in 2002, a decrease of 18%. Earnings per diluted share were $3.09 compared to $3.55 in 2002, a decrease of 13%.
- For the fourth quarter of 2003, net income was $229 million compared to $203 million in 2002, an increase of 13%. Earnings per diluted share were $1.36 compared to $1.21 in 2002, an increase of 13%.
- Total operating revenues
DTE Energy reported a 20% increase in net income for the first quarter of 2004 compared to the same period in 2003. Operating expenses decreased 8% due to lower fuel and operation and maintenance costs. Operating income increased 68% while income from continuing operations rose 79%. Earnings per share from continuing operations were $1.14 for Q1 2004 compared to $0.65 for Q1 2003, an increase of 75%. Significant special items impacting comparability between the periods included a $0.28 per share benefit from a pipeline contract termination in 2004.
Color Group ASA is the parent company of Color Line AS, Norway's largest short-sea shipping company operating ferries between Norway, Germany, Denmark, and Sweden. In 2008, Color Line underwent a strategic reorganization that reduced its fleet from ten to six ships and services from six to four. Despite reductions in capacity, total passenger and freight volumes increased on the company's routes. Color Line also improved its online presence and marketing efforts to boost tourism between Norway and neighboring countries. As part of preparing for future growth, Color Line has invested heavily in modernizing its fleet with environmentally-friendly ships.
This document is BB&T Corporation's 2005 annual report. It provides financial highlights for 2005, noting that net income increased 6.1% to $1.654 billion and diluted earnings per share grew 7.1% to $3.00. Operating earnings rose 7.2% to $1.674 billion. Cash basis operating earnings, which exclude intangible assets and purchase accounting adjustments, increased 7.1% to $1.763 billion. The report discusses BB&T's strong loan, deposit and balance sheet growth in 2005 and notes the bank hired additional revenue producers and implemented strategies to boost organic account growth.
- The Clorox Company reported net sales of $1.353 billion for the third quarter of fiscal year 2008, a 9% increase from $1.241 billion in the third quarter of the previous fiscal year.
- Earnings from continuing operations were $100 million, down 22% from $129 million in the third quarter of fiscal year 2007.
- For the first nine months of fiscal year 2008, net sales increased 8% to $3.778 billion compared to $3.503 billion for the same period last year, while earnings from continuing operations fell 10% to $303 million.
- BB&T Corporation reported lower operating earnings for the fourth quarter of 2008 compared to the same period in 2007. Operating earnings available to common shareholders decreased 41.4% to $243 million.
- Net interest income increased 14.2% to $1,132 million due to higher interest income, but this was more than offset by a large increase in the provision for credit losses of $344 million.
- Returns and profitability ratios declined from the prior year, with the return on average common equity decreasing to 7.26% and the efficiency ratio worsening to 51.9%.
The document provides operating statistics for El Paso Corporation for the second quarter of 2008. It includes consolidated statements of income, consolidated operating results, and business segment results for Pipelines, Exploration and Production, Marketing, and Power. The Pipelines segment saw a decrease in throughput compared to the first quarter but an increase compared to the same period last year. The Exploration and Production segment saw higher earnings before interest and taxes compared to both periods last year. Overall, the company saw higher earnings from continuing operations compared to the same period last year.
1. The document is State Street Corporation's 2002 Financial Review, which includes selected financial data from 1998-2002, management's discussion and analysis of financial results, and audited consolidated financial statements.
2. Key financial highlights from the selected data include total fee revenue increasing to $2.85 billion in 2002 from $2.01 billion in 1998, and net income increasing to $1.015 billion in 2002 from $436 million in 1998, with basic earnings per share reaching $3.14 in 2002.
3. The financial review provides operating results supplemental to the GAAP consolidated financial statements to allow for comparison of ongoing business activities and trends across periods.
This document provides State Street Corporation's 2002 financial review, including selected financial data and management's discussion and analysis. Key points:
1) Net income was $1.015 billion, up $387 million from 2001, driven largely by a $495 million gain from selling the corporate trust business. Adjusting for non-operating items, net income rose $32 million.
2) Earnings per share were $3.10, up from $1.90 in 2001. Excluding non-operating items, EPS rose from $2.08 to $2.20.
3) Total revenue increased $569 million to $4.396 billion, as the company expanded its product offerings and client base despite
This document is Morgan Stanley's annual report for fiscal year 2001. It provides the following key information in 3 sentences:
Morgan Stanley's net income for 2001 was $3.6 billion, a 34% decline from 2000, with earnings per share of $3.19, down 33%. Despite the difficult market environment, Morgan Stanley achieved a strong 19% return on equity through expense control and business diversification. The report discusses Morgan Stanley's financial results, the challenges of the difficult market in 2001, and its continued focus on reorganizing around serving clients.
Energy East Corporation announced its second quarter 2008 financial results, reporting earnings per share of $0.10, down from $0.12 in the second quarter of 2007. For the 12 months ended June 30, 2008, earnings per share were $1.56, lower than the $1.68 per share earned in the same period in 2007. The results included a $0.02 per share charge from Central Maine Power Company's new rate plan. Regulatory approval for Energy East's acquisition by Iberdrola was received from all agencies except the New York Public Service Commission, whose decision is still pending.
Energy East Corporation announced its second quarter 2008 financial results, reporting earnings per share of $0.10, down from $0.12 in the second quarter of 2007. For the 12 months ended June 30, 2008, earnings per share were $1.56, lower than the $1.68 per share earned in the same period in 2007. Results for the quarter included a $0.02 per share charge from Central Maine Power Company's new rate plan. Regulatory approval for Energy East's acquisition by Iberdrola was received from all agencies except the New York Public Service Commission, whose decision is still pending.
ConocoPhillips reported financial highlights for the second quarter of 2004 including revenues of $31.9 billion and net income of $2.1 billion. Earnings per share were $3.01 for the quarter. The company experienced higher crude oil and natural gas sales prices and volumes compared to the prior year. However, costs and expenses also increased, including purchases of crude oil and products, production and operating expenses, and taxes.
- ConocoPhillips reported revenues of $34.7 billion for Q3 2004, up from $26.5 billion in Q3 2003, and net income of $2 billion, up from $1.3 billion.
- Earnings per share for Q3 2004 were $2.86, up from $1.90 in Q3 2003.
- Oil and gas production volumes were up slightly from Q3 2003, with crude oil production of 733 thousand barrels per day consolidated and 844 thousand barrels per day total.
Bank of America reported second quarter 2007 results. Net income was $5.8 billion, up 4% from the previous year. Revenue increased 8% due to strong noninterest income growth across all business lines. Credit quality remained sound although provision expenses increased due to reserve builds. The company continued to see increases in deposits, assets under management, retail sales and checking account openings.
Zappos.com financial statements for 2007, 2008, and the first quarter of 2009. These figures are excerpted from Amazon's recent S-4 filing with the SEC
This document summarizes the expected effects of the merger between Duke Energy and Cinergy. Shareholders and customers can expect value and reliable, affordable service. Local communities can anticipate support and enhancement. Employees will find a safe workplace that supports growth while sustaining the environment. The merger aims to increase value for investors while serving customers, communities, employees, and protecting the environment. Financial details of both companies from 2001-2005 are provided.
The document provides quarterly financial trends for The Bank of New York Mellon Corporation from 2007 to the first quarter of 2009. It shows trends in total revenue, fees, expenses, income, assets under management, and other key financial metrics. Total revenue declined in the fourth quarter of 2008 and first quarter of 2009 due to investment write-downs, restructuring charges, and other one-time items. Excluding these items, pre-tax operating margins and returns on equity remained strong, ranging from 33-45% and 10.9-16.9% respectively. Non-U.S. revenue accounted for around 30% of total revenue each quarter.
Allstate operates from a strong financial position with over $104 billion in assets and $17.5 billion in shareholders' equity. It provides insurance and financial services to over 14 million households in the US. Allstate has $104.8 billion in assets and generates most of its revenues from property-liability insurance premiums and contract charges from its financial business. For 2000, Allstate reported revenues of $29.1 billion and net income of $2.2 billion.
Color Group AS is the parent company of Color Line AS, Norway's largest short-sea cruise and freight company operating four international ferry services between Norway, Germany, Denmark and Sweden. In 2010, Color Line transported over 4 million passengers, nearly 1 million cars, and over 170,000 trailers. The company has invested over 7.5 billion since 2004 in new ships, ports, and infrastructure to modernize its fleet. Color Line had annual revenues of approximately 4.5 billion NOK in 2010 and employs around 2,446 people across four countries.
This document is DTE Energy Company's consolidated statement of operations and balance sheet for the third quarter and first nine months of 2003 compared to the same periods in 2002. Some key highlights include:
- Operating revenues for the third quarter were flat while revenues for the first nine months increased 6% year-over-year.
- Operating expenses increased for both the third quarter and first nine months, driven mainly by higher fuel and purchased power costs.
- Net income for the third quarter increased 9% compared to 2002, while net income for the first nine months decreased 32% year-over-year.
- Total assets increased 4% from December 31, 2002 to September 30, 2003, with increases in several current asset
This 2003 annual report summarizes Cummins' financial performance and business highlights for 2003. Some key points:
- Sales increased 8% to $6.3 billion compared to 2002, with net earnings of $50 million.
- The engine business had sales of $3.6 billion, up 6% from 2002. Power generation sales were $1.3 billion, up 8% despite challenging market conditions. Filtration and other business sales reached a record $1.1 billion, up 11%.
- New partnerships and supply agreements were signed to expand the company's customer base. International joint ventures also grew, particularly in China and Asia.
- While markets remained difficult, the company focused on cost
The document is Coventry Healthcare's 2006 Annual Report. It discusses Coventry's business strategy and financial performance in 2006. Key points include:
- Coventry organized its business into three divisions - Commercial, Individual/Government, and Specialty - to capitalize on growth opportunities.
- The Commercial division continued strong growth while maintaining industry-leading margins.
- The Individual/Government division saw significant growth from the new Medicare Part D program and expanding Medicaid and individual businesses.
- All divisions performed well financially in 2006, with revenues reaching a record $7.7 billion and earnings continuing to grow.
This document provides consolidated income statement and segment income information for ExxonMobil for 2007 and 2008. In 2007, ExxonMobil earned a net income of $11.9 billion, with the largest contributors being the Upstream (E&P) segments. Several large impairment charges in the International E&P segment resulted in a net loss for that segment. In 2008, ExxonMobil's net income increased to $9.6 billion for the periods reported, with the Upstream segments again contributing the most income. Certain items included large gains and impairments in various segments in both years.
Allstate's revenues increased 4% to $27 billion in 1999. Operating income decreased 19% to $2.1 billion due to higher costs and charges from acquisitions and restructuring. Net income fell 17% to $2.7 billion. Investments grew 5% to $69.6 billion. In Property-Liability, premiums written rose 5% to $20.4 billion and underwriting income decreased 60% to $527 million due to increased losses and expenses.
Anthem Southeast reported financial results for 2001 and the first two quarters of 2002. In 2001, operating revenue was $4.4 billion and net income was $116.1 million. Medical membership increased from 2.3 million to 2.4 million between the first and fourth quarters of 2001. For the first half of 2002, operating revenue was $2.5 billion and net income was $65 million, with medical membership at 2.5 million. Benefit expenses accounted for over 80% of operating expenses in both 2001 and the first half of 2002.
The document is Burlington Northern Santa Fe Corporation's third quarter 2001 investors' report. Key points:
- Earnings per share were $0.58 compared to $0.64 in third quarter 2000. Freight revenues were $2.31 billion, even with last year.
- Operating expenses were higher by $69 million due to increased compensation, benefits, and fuel costs. Operating income was $502 million versus $571 million in 2000.
- 4.1 million shares were repurchased in the quarter, bringing the total under the buyback program to 101.1 million shares.
- The report provides financial statements and statistics on revenues, expenses, operations, and capital expenditures for
The 1999 Nordstrom annual report discusses the company's transition to better position itself for future competition. While sales growth was achieved through new store openings, existing store sales did not grow as expected due to excess inventory levels. The company took steps to better align inventory levels with sales. It also streamlined its buying structure to improve accountability and gain leverage in the market. Going forward, Nordstrom aims to generate quality sales growth from both new and existing stores through various new initiatives focused on the customer experience.
The 1999 Nordstrom annual report discusses the company's transition to better position itself for future success and increased competition. Key points include:
- Sales growth was driven by new full-line store openings and Rack store expansion. However, inventory levels had expanded faster than sales.
- The company realigned its buying structure to streamline decision making and gain leverage in the market.
- Initiatives are outlined to drive quality sales growth from existing stores through listening to customers and inspiring brand loyalty.
- The company is well positioned for future growth through new store opportunities and adapting to changing customer demands.
This annual report from Nordstrom provides an overview of the company's financial performance in 2000 and discusses some changes made that year based on customer feedback. It highlights that Nordstrom's greatest asset is its employees and salespeople. The report emphasizes focusing resources on supporting employees and giving them ownership over merchandise selection to best meet customer needs at the local level. It provides examples of top performing salespeople to illustrate Nordstrom's culture of customer service.
This annual report from Nordstrom provides an overview of the company's financial performance in 2000 and discusses some changes made that year based on customer feedback. It highlights that Nordstrom's greatest asset is its employees and salespeople. The report emphasizes focusing resources on supporting employees and giving them ownership over merchandise selection to best meet customer needs at the local level. It provides examples of top performing salespeople to illustrate Nordstrom's culture of customer service.
Nordstrom's 2001 Annual Report provides key financial highlights and performance metrics for the fiscal year. It discusses comparable store sales growth, total sales growth, earnings per share, and other metrics. The report also features interviews with Nordstrom employees discussing how the company is responding to challenges in retail by focusing on great products, customer service, and relationships. Employees discuss benefits of new initiatives like Perpetual Inventory and how Nordstrom transfers its core values to new markets. An operations executive also discusses bringing expenses under control by focusing on the customer experience and leveraging the company's size.
Nordstrom reported financial results for fiscal year 2001 with net sales increasing 1.9% to $5.6 billion and net earnings growing 22.3% to $124.7 million. Nordstrom saw comparable store sales growth and increased sales per square foot. The company focused on offering great styles, value, and customer service during challenging times for retail. Nordstrom implemented Perpetual Inventory to improve inventory management and the customer experience.
The annual report for 2002 provides financial highlights for the company including:
- Net sales increased 6.1% from 2001 to $5.975 billion.
- Earnings before income taxes decreased 4.3% to $195.6 million.
- Net earnings decreased 27.6% to $90.2 million.
The annual report summarizes Nordstrom's financial performance in 2002. Net sales increased 6.1% to $5.975 billion compared to 2001. Earnings before taxes decreased 4.3% to $195.6 million. Net earnings decreased 27.6% to $90.2 million and basic earnings per share decreased 28% to $0.67. Nordstrom made progress increasing sales and reducing expenses as a percentage of sales but recognizes there is still work to be done to reach its goals.
Nordstrom reported strong financial results for fiscal year 2003, with net sales increasing 8.6% to $6.49 billion and net earnings increasing 169.2% to $242.8 million. The company saw improvements in key metrics like gross profit margin and inventory turnover. Nordstrom aims to further enhance the customer experience through new technologies like touchscreen registers and personal book software. The report discusses Nordstrom's focus on listening to customers, providing quality service, and investing in employees and tools to build long-term customer loyalty and competitive advantage.
Nordstrom reported strong financial results for fiscal year 2003, with net sales increasing 8.6% to $6.49 billion and net earnings increasing 169.2% to $242.8 million. The company saw improvements in key metrics like gross profit margin and inventory turnover. Nordstrom aims to further enhance the customer experience through new technologies like touchscreen registers and personal book software. The report discusses Nordstrom's focus on disciplined growth, delivering the right merchandise assortments to each store, and leveraging technology improvements to better serve customers and drive profitable growth.
The document lists various job roles within the fashion retail business, including designers, salespeople, managers, and support staff. It then provides financial highlights and key metrics for Nordstrom, Inc. for the year 2004, including total revenue, net earnings, earnings per share, and total number of employees. The roles listed help illustrate the wide range of positions involved in operating a large retail fashion business.
The document lists various job roles within the fashion retail business of Nordstrom, Inc. It includes designers, salespeople, managers, servers, and other operational roles across the company. The roles support functions like design, sales, store operations, visual merchandising, and supply chain management.
This document is Nordstrom's annual report on Form 10-K filed with the SEC, summarizing its business operations for the fiscal year ended January 31, 2009. It discusses Nordstrom's segments including retail stores, direct, credit, and other. It provides an overview of Nordstrom's operations, including its store count, real estate strategy, brands, suppliers, seasonality, inventory management, and competitive environment. The report also addresses risks to Nordstrom's business from economic conditions, consumer spending, competition, and other factors.
This document is Nordstrom's annual report on Form 10-K for the fiscal year ending January 31, 2009. It provides information on Nordstrom's business operations and financial results. Specifically, [1] it describes Nordstrom's retail operations including its full-line department stores, Nordstrom Rack off-price stores, and clearance stores; [2] it notes that Nordstrom operates 171 stores across 28 U.S. states as of March 2009; and [3] it divides Nordstrom's business into four segments: Retail Stores, Direct, Credit, and Other. The filing also includes details on store openings, financial and operating results, risk factors, properties, legal proceedings, and other disclosures required in an annual
- Nordstrom reported strong financial results for fiscal year 2005 with total sales increasing 8.3% to $7.7 billion and same-store sales growth of 6%. Net earnings increased 40.1% to $551 million compared to 2004.
- The company aims to continue its growth in 2006 by focusing on maximizing sales in women's apparel, providing a seamless shopping experience across channels, and expanding into new markets like Boston.
- Nordstrom's strategies for continuous improvement include testing new store concepts, enhancing its online presence, leveraging technology investments, and refining inventory management tools.
Nordstrom reported strong financial results for fiscal year 2006. Total sales increased 10.8% to a record $8.6 billion and net earnings increased 23% to $678 million. Other highlights included gross profit and earnings before taxes reaching record high percentages of net sales. Nordstrom also announced a $2.8 billion capital plan to fund new stores, remodels, and other customer-facing initiatives to drive further growth. The company is well positioned for future growth given its focus on serving customers through both stores and online channels.
Nordstrom reported strong financial results for fiscal year 2006. Total sales increased 10.8% to a record $8.6 billion, with earnings before taxes exceeding $1 billion for the first time. The gross profit rate was 37.5% and expenses as a percentage of sales improved for the sixth consecutive year. Nordstrom also announced a $2.8 billion capital investment plan focused on new stores, remodels, and technology improvements to enhance the customer experience across channels. The Chairman expressed optimism for Nordstrom's future given its focus on serving customers and executing narrow initiatives through the lens of its values.
The document is Nordstrom's annual report (Form 10-K) filed with the SEC for the fiscal year ended February 2, 2008. It provides an overview of Nordstrom's business segments and operations, discusses competitive conditions and risks. Key points include:
- Nordstrom has four business segments: Retail Stores, Direct, Credit, and Other. Retail Stores and Direct are the main segments.
- In 2007, Nordstrom opened new stores and remodeled existing stores. It also sold its Façonnable boutiques.
- Nordstrom faces competition from other retailers and risks including its ability to respond to fashion trends, effective inventory management, and economic conditions.
The document is Nordstrom's annual report (Form 10-K) filed with the SEC for the fiscal year ended February 2, 2008. It provides an overview of Nordstrom's business segments and operations, discusses competitive conditions and risks. Key points include:
- Nordstrom has four business segments: Retail Stores, Direct, Credit, and Other. Retail Stores and Direct are the main segments.
- In 2007, Nordstrom opened new stores and remodeled existing stores. It also sold its Façonnable boutiques.
- Nordstrom faces competition from other retailers and risks including its ability to respond to fashion trends, effective inventory management, and economic conditions.
This document is Nordstrom's annual report on Form 10-K filed with the SEC, summarizing its business operations for the fiscal year ended January 31, 2009. It discusses Nordstrom's segments including Retail Stores, Direct, Credit, and Other. It provides an overview of Nordstrom's operations including its store count, real estate strategy, and sales by segment. It also outlines the company's trademarks, return policy, seasonality, inventory management, competition, employees, and risk factors associated with its business.
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ameriprise 3Q05_StatSupp_1305
1. QUARTERLY STATISTICAL SUPPLEMENT
(unaudited)
September 30, 2005
Effective August 1, 2005, Ameriprise Financial, Inc. transferred its 50% ownership interest and the related assets and liabilities of
American Express International Deposit Company (AEIDC) to American Express Company as part of its separation agreement from
the latter. The assets, liabilities and operations of AEIDC are reported as discontinued operations.
Information for prior periods has been restated to conform to this presentation.
Note: Revised from previous disclosure.
2. Table of Contents
Page
Ameriprise Financial, Inc.
Consolidated Income Statements 1
Financial Summary 2
Consolidating Segment Information 3
Consolidated Balance Sheets 4
Selected Consolidated Information 5-6
Selected Balance Sheet Information 7
Asset Accumulation and Income
Income Statements 8
Product Information 9
Selected Statistical Information 10
Managed Asset Roll Forward 11
Product Roll Forward 12
Protection
Income Statements 13
Product Information 14
Selected Statistical Information 15
Product Roll Forward 16
Corporate and Other and Eliminations
Statements of Operations 17
Exhibit 1 A1-A5
3. Ameriprise Financial, Inc.
Consolidated Income Statements
(Millions, unaudited)
3Q 4Q 1Q 2Q 3Q 3Q'05 vs. 3Q'04 Full Year
2004 2004 2005 2005 2005 % Inc/(Dec) 2004
Revenues
Management, financial advice and service fees $ 550 $ 606 $ 608 $ 632 $ 687 25% $ 2,248
Distribution fees 248 267 288 289 296 19% 1,101
Net investment income 520 571 548 558 561 8% 2,137
Premiums 262 264 270 279 202 -23% 1,023
Other revenues 132 135 133 137 127 -3% 518
Total revenues 1,712 1,843 1,847 1,895 1,873 9% 7,027
Expenses
Compensation and benefits:
Field 311 339 362 371 408 31% 1,331
Non-field 249 259 279 280 295 19% 957
Total compensation and benefits 560 598 641 651 703 26% 2,288
Interest credited to account values 302 342 311 328 337 11% 1,268
Benefits, claims, losses and settlement expenses 205 223 218 238 190 -8% 828
Amortization of deferred acquisition costs 108 125 136 134 49 -55% 437
Interest and debt expense 13 15 17 19 16 27% 52
Other expense 263 280 258 278 305 16% 1,042
Total expenses before separation costs 1,451 1,583 1,581 1,648 1,600 10% 5,915
Income before income tax provision, separation costs,
discontinued operations and accounting change 261 260 266 247 273 4% 1,112
Income tax provision before tax benefit attributable to separation
costs 73 34 78 61 91 25% 287
Income before separation costs, discontinued operations and
accounting change 188 226 188 186 182 -3% 825
Separation costs, after-tax * - - 13 37 59 - -
Income before discontinued operations and accounting change 188 226 175 149 123 -35% 825
Discontinued operations, net of tax 11 9 8 6 2 -87% 40
Cumulative effect of accounting change, net of tax - - - - - - (71)
Net income $ 199 $ 235 $ 183 $ 155 $ 125 -38% $ 794
Net investment gains (losses), after-tax $ 7 $ 5 $ 7 $ 37 $ (4) # $ 6
Dividends paid ** $ 100 $ 603 $ - $ - $ 217 # $ 1,326
Contribution margin*** 52.2% 51.0% 51.8% 50.5% 50.1% - 51.3%
* The non-GAAP presentation of separation costs, after-tax is calculated using the statutory tax rate of 35%.
** Dividends paid in 3Q 2005 includes $165 million associated with the transfer of the Company's interest in AEIDC to American Express Company.
*** Contribution margin represents total revenues less field compensation and benefits, interest credited to account values and benefits, claims, losses and
settlement expenses as a percentage of total revenues.
# Variance 100% or greater.
1
4. Ameriprise Financial, Inc.
Financial Summary
(Millions except per share data, unaudited)
3Q 4Q 1Q 2Q 3Q 3Q'05 vs. 3Q'04 Full Year
2004 2004 2005 2005 2005 % Inc/(Dec) 2004
Common shares outstanding (ended) * 246.2 246.2 246.2 246.2 246.2 0% 246.2
Weighted average common shares outstanding - basic* 246.2 246.2 246.2 246.2 246.2 0% 246.2
Dilutive effect of stock options - - - - - - -
Weighted average common shares outstanding - diluted* 246.2 246.2 246.2 246.2 246.2 0% 246.2
EPS - Basic:******
Income before separation costs, discontinued operations and
accounting change $ 0.77 $ 0.92 $ 0.76 $ 0.76 $ 0.74 -4% $ 3.35
Separation costs, discontinued operations and accounting
change 0.04 0.03 (0.02) (0.13) (0.24) # (0.13)
Net income $ 0.81 $ 0.95 $ 0.74 $ 0.63 $ 0.50 -38% $ 3.22
EPS - Diluted:******
Income before separation costs, discontinued operations and
accounting change $ 0.77 $ 0.92 $ 0.76 $ 0.76 $ 0.74 -4% $ 3.35
Separation costs, discontinued operations and accounting
change 0.04 0.03 (0.02) (0.13) (0.24) # (0.13)
Net income $ 0.81 $ 0.95 $ 0.74 $ 0.63 $ 0.50 -38% $ 3.22
Net income margin 11.6% 12.7% 9.9% 8.2% 6.6% 11.3%
Operating income margin ** 15.3% 14.1% 14.4% 13.0% 14.6% 11.7%
Effective tax rate (1) 27.7% 12.9% 29.3% 21.5% 32.2% 25.8%
Average shareholders' equity (billions) -2%
$ 7.2 $ 7.0 $ 6.7 $ 6.8 $ 7.0 $ 7.0
Return on equity before discontinued operations*** (1) 11.8% 12.0% 11.4% 11.3% 9.8% 12.0%
Book value:
Book value 10%
$ 7,152 $ 6,702 $ 6,482 $ 6,993 $ 7,836 $ 6,702
Book value, excluding the impact of accumulated other
comprehensive income (OCI) $ 6,682 $ 6,322 $ 6,514 $ 6,679 $ 7,855 18% $ 6,322
Book value per share 10%
$ 29.05 $ 27.23 $ 26.33 $ 28.41 $ 31.83 $ 27.23
Book value per share, excluding the impact of OCI 18%
$ 27.14 $ 25.68 $ 26.46 $ 27.13 $ 31.91 $ 25.68
Debt/capital measure**** 18.3% 19.7% 20.6% 19.2% 15.2% 19.7%
Allocated equity: *****
Asset accumulation and income $ 3,795 $ 3,760 $ 3,677 $ 3,575 $ 3,551 -6% $ 3,760
Protection 1,958 1,964 1,974 1,942 1,965 0% 1,964
Corporate and other 929 598 863 1,163 2,339 # 598
Accumulated other comprehensive income 469 380 (32) 313 (19) # 380
Total $ 7,151 $ 6,702 $ 6,482 $ 6,993 $ 7,836 10% $ 6,702
* Represents actual Ameriprise Financial, Inc. shares outstanding as of September 30, 2005 assuming no dilution for all periods presented.
** Operating income margin represents income before income tax provision, separation costs, discontinued operations and accounting change as a percentage of total revenues.
*** Calculated using the trailing 12 month net income before discontinued operations and accounting change and the average of shareholders' equity before both the assets and
liabilities of discontinued operations as of the last day of the preceding four quarters and the current quarter.
****Prior to September 30, 2005, debt consisted of a short term line of credit and long term debt with American Express Company; as well as medium term notes with
external third parties. During 3Q 2005, debt outstanding from American Express Company was replaced with a bridge loan from an external third party.
Excluded is non recourse debt. Capital includes total shareholders' equity plus the previously described debt.
*****Allocated equity reflects the internal allocation of consolidated shareholders' equity (excluding OCI) to the Company’s operating segments for purposes of measuring
segment pretax operating return on allocated equity. Allocated equity does not reflect insurance company risk-based capital or other regulatory capital requirements
applicable to the Company and certain of its subsidiaries.
******EPS for other than EPS-Net income are non-GAAP financial measures.
# Variance 100% or greater.
(1) Revised from previous disclosure.
2
5. Ameriprise Financial, Inc.
Consolidating Segment Information
(Millions, unaudited)
INCOME STATEMENT
3Q 2005
Asset Corporate and
Accumulation Other and
and Income Protection Eliminations Total
Revenues
Management, financial advice and service fees $ 611 $ 17 $ 59 $ 687
Distribution fees 207 27 62 296
Net investment income 479 90 (8) 561
Premiums - 217 (15) 202
Other revenues 8 109 10 127
Total revenues 1,873
1,305 460 108
Expenses
Compensation and benefits - field 252 57 99 408
Interest credited to account values 299 38 - 337
Benefits, claims, losses and settlement expenses 3 187 - 190
Amortization of deferred acquisition costs 68 (20) 1 49
Interest and debt expense 12 9 (5) 16
Other operating expense* 505 53 42 600
Total expenses before separation costs 1,139 324 137 1,600
Income (loss) before income tax provision (benefit), separation costs, discontinued
operations and accounting change 166 136 (29) 273
Separation costs, pretax - - 92 92
Income (loss) before income tax provision (benefit), discontinued operations and
accounting change $ 166 $ 136 $ (121) $ 181
BALANCE SHEET
Total Assets $ 73,983 $ 16,326 $ 2,064 $ 92,373
* On a consolidated basis, non-field compensation and benefits expense was $ 295 MM.
3
6. Ameriprise Financial, Inc.
Consolidated Balance Sheets
(Millions, unaudited)
September 30, December 31, March 31, June 30, September 30,
Assets 2004 2004 2005 2005 2005
Cash and cash equivalents $ 1,743 $ 1,024 $ 1,105 $ 2,097 $ 2,620
Investments 39,097 40,232 39,915 40,207 39,454
Receivables 2,260 2,160 2,548 2,476 2,936
Deferred acquisition costs 3,927 3,956 4,043 4,032 4,088
Separate account assets 32,367 35,901 35,995 37,433 39,840
Restricted and segregated cash 1,479 1,536 1,535 1,241 1,058
Assets of discontinued operations 5,259 5,873 6,002 6,123 -
Other assets 2,370 2,431 2,393 2,343 2,377
$ 88,502 $ 93,113 $ 93,536 $ 95,952 $ 92,373
Total assets
Liabilities and Shareholders' Equity
Liabilities:
Future policy benefits and claims $ 33,010 $ 33,253 $ 33,190 $ 33,169 $ 32,958
Investment certificate reserves 5,306 5,831 6,282 6,427 6,392
Accounts payable and accrued expenses 2,344 2,456 2,665 2,681 2,516
Payable to American Express 1,698 1,751 1,780 1,718 102
Short-term debt - - - - 1,351
Long-term debt 377 385 385 378 360
Separate account liabilities 32,367 35,901 35,995 37,433 39,840
Liabilities of discontinued operations 5,037 5,631 5,794 5,870 -
Other liabilities 1,212 1,203 963 1,283 1,018
Total liabilities 81,351 86,411 87,054 88,959 84,537
Shareholders' Equity:
Common shares ($.01 par) - - - - 2
Additional paid-in capital 2,899 2,907 2,916 2,926 4,193
Retained earnings 3,782 3,415 3,597 3,753 3,661
Accumulated other comprehensive
income (loss), net of tax 470 380 (31) 314 (20)
Total shareholders' equity 7,151 6,702 6,482 6,993 7,836
Total liabilities and shareholders' equity $ 88,502 $ 93,113 $ 93,536 $ 95,952 $ 92,373
4
7. Ameriprise Financial, Inc.
Selected Consolidated Information
(Millions, except where noted, unaudited)
3Q 4Q 1Q 2Q 3Q 3Q'05 vs. 3Q'04 Full Year
2004 2004 2005 2005 2005 % Inc/(Dec) 2004
Owned, managed and administered assets (billions):
Owned assets* $ 77.3 $ 81.2 $ 81.4 $ 83.8 $ 86.2 12% $ 81.2
Managed assets*, ** 236.2 257.0 250.9 255.8 260.1 10% 257.0
Administered assets 65.2 70.0 68.7 71.1 74.4 14% 70.0
Total owned, managed and administered assets 11%
$ 378.7 $ 408.2 $ 401.0 $ 410.7 $ 420.7 $ 408.2
Ending shareholders' equity by legal entity:
IDS Life Insurance Co. $ 5,320 $ 4,906 $ 4,714 $ 5,096 $ 5,552 4% $ 4,906
IDS Property Casualty Ins. Co. 454 469 500 542 494 9% 469
Ameriprise Certificate Co. 322 343 298 346 309 -4% 343
Other 1,056 984 970 1,009 1,481 40% 984
Total 10%
7,152 6,702 6,482 6,993 7,836 $ 6,702
CASH SALES
By product:
Mutual funds*** $ 5,634 $ 5,774 $ 6,192 $ 6,044 $ 6,469 15% $ 24,633
Annuities 1,887 1,835 2,016 2,440 2,483 32% 7,820
Investment certificates 1,786 2,587 2,226 1,896 1,386 -22% 7,141
Life and other insurance products 306 288 327 313 273 -11% 1,162
Institutional products and services**** 1,664 1,763 1,758 2,519 846 -49% 7,683
Other 991 1,077 925 1,081 949 -4% 4,478
$ 12,268 $ 13,324 $ 13,444 $ 14,293 $ 12,406 $ 52,917
Total 1%
By channel:
Branded advisor*** $ 5,356 $ 6,014 $ 6,333 $ 6,259 $ 6,123 14% $ 23,656
Securities America 1,280 1,263 1,535 1,632 1,628 27% 3,865
Third-party distribution 204 220 248 264 282 38% 870
Institutional 1,603 1,355 1,705 2,321 1,055 -34% 7,455
Threadneedle 2,107 2,253 1,819 2,050 2,126 1% 8,536
All Other (AEIDC/AEB,etc) 1,718 2,219 1,804 1,767 1,192 -31% 8,535
Total 1%
$ 12,268 $ 13,324 $ 13,444 $ 14,293 $ 12,406 $ 52,917
Total Gross Dealer Concession ***** 17%
$ 357.2 $ 382.4 $ 403.3 $ 416.9 $ 419.3 $ 1,501.1
* Owned assets include certain assets on our balance sheet, principally investments in the general and separate accounts of our life
insurance subsidiaries, as well as cash and cash equivalents, restricted and segregated cash and receivables. During 3Q 2005, the
Company transferred its 50% interest in AEIDC to American Express Company. For this presentation, prior periods have been restated
to remove the AEIDC assets from the owned category and to report the related investment portfolio in the managed category.
** Managed assets includes all assets managed by Ameriprise Financial, Inc. or its subsidiaries that are investment advisors, but does not
include owned assets or administered assets. The presentation of managed assets may be different when provided by any of these subsidiaries.
*** Excludes non proprietary sales within Ameriprise's wrap accounts.
**** Includes separately managed accounts and alternative investments.
***** Internal measure, commonly used in the financial services industry, of the sales production of the advisor channel, excluding
Securities America.
Securities America is a separately managed broker dealer and its results are included in the Corporate and Other and Eliminations segment.
5
8. Ameriprise Financial, Inc.
Selected Consolidated Information (continued)
(unaudited)
3Q 4Q 1Q 2Q 3Q 3Q'05 vs. 3Q'04 Full Year
2004 2004 2005 2005 2005 % Inc/(Dec) 2004
Employee base:
Field (employee advisors) 2,947 3,170 3,241 3,109 3,039 3% 3,170
Non-field 8,692 8,538 8,594 8,664 8,665 0% 8,538
Advisors:
Employee advisors 2,947 3,170 3,241 3,109 3,039 3% 3,170
Franchisee advisors 7,583 7,571 7,534 7,470 7,441 -2% 7,571
Total branded financial advisors 10,530 10,741 10,775 10,579 10,480 0% 10,741
Securities America registered representatives 1,541 1,603 1,581 1,583 1,708 11% 1,603
Total advisors 1%
12,071 12,344 12,356 12,162 12,188 12,344
Employee advisor retention 59% 62% 65% 65% 64% 62%
Franchisee advisor retention 93% 93% 92% 92% 91% 93%
Cash sales* per branded advisor (thousands) 14%
$ 509 $ 560 $ 588 $ 592 $ 581 $ 2,243
Gross Dealer Concession** per branded advisor (thousands) 17%
$ 33.9 $ 35.6 $ 37.4 $ 39.4 $ 39.8 $ 141.8
Financial planning:
Financial plans sold (thousands) 51 59 66 58 54 7% 226
Percentage of clients with financial plans 42% 42% 43% 43% 43% 42%
Sales per branded advisor client (thousands) $ 2.5 $ 2.8 $ 3.1 $ 3.1 $ 3.2 24% $ 11.0
Clients:
Total clients*** (millions) 2.7 2.7 2.7 2.8 2.8 2% 2.7
Branded advisor clients (millions) 2.2 2.2 2.0 2.0 2.0 -9% 2.2
Client retention 94% 94% 93% 94% 94% 94%
* Branded advisor cash sales excludes non proprietary sales within Ameriprise's wrap accounts.
** Internal measure, commonly used in the financial services industry, of the sales production of the advisor channel excluding Securities America.
*** Total clients includes individual, business and institutional clients.
Securities America is a separately managed broker dealer and its results are included in the Corporate and Other and Eliminations segment.
6
9. Ameriprise Financial, Inc.
Selected Balance Sheet Information
(Billions, unaudited)
3Q 2004 4Q 2004 1Q 2005 2Q 2005 3Q 2005
Cost Fair Value Cost Fair Value Cost Fair Value Cost Fair Value Cost Fair Value
Earning assets by type (%):
Equity 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%
Fixed income 43.0% 43.6% 42.4% 43.0% 42.5% 42.6% 41.5% 42.0% 39.8% 39.9%
Separate accounts 42.3% 41.9% 44.6% 44.2% 44.3% 44.2% 45.0% 44.6% 46.3% 46.2%
Other 14.6% 14.4% 12.9% 12.7% 13.1% 13.1% 13.4% 13.3% 13.8% 13.8%
Available-for-sale (AFS) investments:
Corporate debt securities $ 18.4 $ 19.1 $ 19.5 $ 20.1 $ 19.6 $ 19.8 $ 19.7 $ 20.2 $ 19.4 $ 19.5
Mortgage and other asset-backed securities 12.4 12.6 12.6 12.7 12.9 12.8 13.3 13.4 13.5 13.4
Structured investments 0.8 0.8 0.8 0.7 0.7 0.7 - - - -
State and municipal obligations 0.8 0.8 0.8 0.8 0.8 0.8 0.9 0.9 0.8 0.9
U.S. Government and agencies obligations 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4
Foreign government bonds and obligations 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Common and preferred stocks 0.1 - - 0.2 0.1 0.2 0.1 0.2 0.1 0.1
Total $ 33.0 $ 33.8 $ 34.2 $ 35.0 $ 34.6 $ 34.8 $ 34.5 $ 35.2 $ 34.3 $ 34.4
Fixed income asset quality:
AAA 41% 41% 41% 43% 43%
AA 4% 4% 5% 6% 6%
A 20% 20% 20% 20% 20%
BBB 26% 27% 27% 24% 24%
Below investment grade 9% 8% 7% 7% 7%
Non-performing assets as a percentage of
invested assets* 0.04% 0.03% 0.06% 0.03% 0.02%
Reserve coverage (times) of
non-performing assets 6.3 7.2 3.6 6.6 8.8
SFAS 115 related mark-to-market amount in
assets (pretax) $ 0.8 $ 0.8 $ 0.1 $ 0.7 $ 0.1
* Excludes short-term cash positions and includes the impact of FIN 46.
7
10. Asset Accumulation and Income
Income Statements
(Millions, unaudited)
3Q 4Q 1Q 2Q 3Q 3Q'05 vs. 3Q'04 Full Year
2004 2004 2005 2005 2005 % Inc/(Dec) 2004
Revenues
Management, financial advice and service fees $ 486 $ 532 $ 531 $ 561 $ 611 26% $ 1,986
Distribution fees 176 198 205 200 207 17% 784
Net investment income 450 496 471 478 479 7% 1,860
Other revenues 16 17 18 17 8 -45% 46
Total revenues 1,128 1,243 1,225 1,256 1,305 16% 4,676
Expenses
Compensation and benefits - field 221 233 240 241 252 14% 890
Interest credited to account values 261 303 275 300 299 15% 1,125
Benefits, claims, losses and settlement expenses 16 16 5 16 3 -82% 52
Amortization of deferred acquisition costs 79 82 92 97 68 -16% 305
Interest and debt expense 10 12 11 7 12 18% 33
Other operating expense 384 441 441 438 505 32% 1,580
Total expenses 971 1,087 1,064 1,099 1,139 17% 3,985
Income before income tax provision, discontinued operations
and accounting change $ 157 $ 156 $ 161 $ 157 $ 166 7% $ 691
Net investment gains (losses), pretax $ 8 $ 4 $ 7 $ 37 $ (8) # $ 6
Contribution margin * 55.9% 55.6% 57.5% 55.6% 57.6% 55.8%
Allocated equity ** $ 3,795 $ 3,760 $ 3,677 $ 3,575 $ 3,551 -6% $ 3,760
Return on allocated equity for income before income tax NA 18.3% 17.0% 17.0% 17.6% 18.3%
provision, discontinued operations and accounting change***
* Contribution margin represents total revenues less field compensation and benefits, interest credited to account values and benefits, claims, losses and settlement
expenses as a percentage of total revenues.
** Allocated equity reflects the internal allocation of consolidated shareholders' equity (excluding OCI) to the Company’s operating segments for purposes of measuring
segment return on allocated equity. Allocated equity does not reflect insurance company risk-based capital or other regulatory capital requirements
applicable to the Company and certain of its subsidiaries.
*** Calculated using trailing 12 month income before income tax provision, discontinued operations and accounting change and the average allocated equity
as of the last day of the preceding three quarters and the current quarter.
# Variance 100% or greater.
8
12. Asset Accumulation and Income
Selected Statistical Information
(Billions, unaudited)
3Q 4Q 1Q 2Q 3Q 3Q'05 vs. 3Q'04
2004 2004 2005 2005 2005 % Inc/(Dec)
Owned, managed and administered assets:
Owned assets* $ 63.6 $ 67.1 $ 67.2 $ 69.1 $ 70.8 11%
Managed assets** 231.4 251.5 245.1 249.7 253.3 9%
Administered assets 54.8 60.1 58.8 61.0 63.8 16%
$ 349.8 $ 378.7 $ 371.1 $ 379.8 $ 387.9
Total owned, managed and administered assets 11%
Managed assets by type - excluding separate accounts (%):
Equity 49% 49% 48% 47% 47%
Fixed income 25% 24% 24% 23% 22%
Broker managed wrap 13% 14% 15% 16% 17%
Other 13% 13% 13% 14% 14%
Mutual fund performance:
Equity - 12-month
Percent of funds, equal weighted in top 2 Lipper quartiles 41% 59% 59% 66% 66%
Fixed Income - 12-month
Percent of funds, equal weighted in top 2 Lipper quartiles 53% 68% 50% 45% 45%
Equity - 3-year
Percent of funds, equal weighted in top 2 Lipper quartiles 39% 39% 50% 52% 43%
Fixed income - 3-year
Percent of funds, equal weighted in top 2 Lipper quartiles 40% 20% 31% 44% 31%
Aggregated data shows only actively-managed mutual funds by affiliated investment managers.
Aggregated data does not include mutual funds subadvised by advisors not affliliated with Ameriprise Financial, Inc. or index funds.
Aggregated equity rankings include RiverSource Portfolio Builder Series and other balanced and asset allocation funds that invest in both equities and fixed income.
RiverSource Portfolio Builder Series funds are funds of mutual funds that may invest in third-party subadvised funds.
Aggregated data only includes mutual funds in existence as of September 30, 2005. Refer to Exhibit 1 for individual mutual fund performance rankings and other important disclosures.
Exhibit 1 includes performance rankings for funds subadvised by non-affiliated advisors for general reference although not included in the summary above.
* Owned assets include certain assets on our balance sheet, principally investments in the general and separate accounts of our life insurance subsidiaries, as well as cash and cash
equivalents, restricted and segregated cash and receivables.
** Managed assets include all assets managed by Ameriprise Financial, Inc., or its subsidiaries that are investment advisors, but does not include owned assets or administered
assets. The presentation of managed assets may be different when provided by any of these subsidiaries.
10
13. Asset Accumulation and Income
Managed Assets Roll Forward
(Billions, unaudited)
3Q 4Q 1Q 2Q 3Q 3Q'05 vs. 3Q'04 Full Year
2004 2004 2005 2005 2005 % Inc/(Dec) 2004
Managed assets - retail:
RiverSource mutual funds
Beginning assets $ 65.5 $ 63.3 $ 65.3 $ 61.2 $ 59.9 -9% $ 68.8
Sales 2.4 2.0 2.1 2.0 2.0 -21% 9.6
Redemptions (4.2) (4.1) (4.9) (4.5) (4.5) 8% (17.5)
Market appreciation/(depreciation) (0.6) 3.9 (1.4) 0.9 2.0 # 3.7
Other 0.2 0.2 0.1 0.3 - -11% 0.7
Ending assets $ 63.3 $ 65.3 $ 61.2 $ 59.9 $ 59.4 -6% $ 65.3
Threadneedle mutual funds
Beginning assets $ 10.8 $ 10.8 $ 12.2 $ 11.9 $ 12.4 15% $ 10.7
Sales 0.9 0.9 1.2 1.1 1.4 63% 3.8
Redemptions (1.0) (0.7) (1.2) (1.2) (0.7) -30% (3.6)
Market appreciation/(depreciation) and foreign currency translation 0.2 0.6 0.1 0.8 0.7 # 1.0
Other (0.1) 0.6 (0.4) (0.2) (0.4) # 0.3
Ending assets $ 10.8 $ 12.2 $ 11.9 $ 12.4 $ 13.4 24% $ 12.2
Wrap accounts - other company products*
Beginning assets $ 27.4 $ 29.3 $ 34.0 $ 36.4 $ 39.6 44% $ 22.6
Sales 2.6 3.1 3.8 3.9 3.7 44% 11.0
Redemptions (1.4) (1.7) (2.0) (2.4) (2.2) 59% (6.4)
Market appreciation/(depreciation) 0.2 2.4 - 1.1 1.6 # 3.8
Other 0.5 0.9 0.6 0.6 1.0 67% 3.0
Ending assets 29.3 34.0 36.4 39.6 43.7 49% 34.0
Total managed assets - retail $ 103.4 $ 111.5 $ 109.5 $ 111.9 $ 116.5 13% $ 111.5
Managed assets - institutional:
Separately managed accounts/sub-advisory
Beginning assets $ 22.7 $ 20.1 $ 21.6 $ 20.3 $ 20.9 -8% $ 23.6
Sales 0.3 0.4 0.3 0.6 0.3 -28% 1.7
Redemptions (0.7) (0.4) (1.3) (0.6) (1.4) # (3.0)
Market appreciation/(depreciation) 0.1 0.6 (0.2) 0.3 (0.1) # 1.3
Other (2.3) 0.9 (0.1) 0.3 - # (2.0)
Ending assets $ 20.1 $ 21.6 $ 20.3 $ 20.9 $ 19.7 -2% $ 21.6
Other institutional
Beginning assets $ 9.2 $ 9.2 $ 9.2 $ 9.8 $ 8.2 -11% $ 8.6
Sales 0.1 0.1 0.7 0.8 0.1 65% 1.5
Redemptions (0.3) (0.1) (0.1) (2.4) (0.8) # (1.7)
Market appreciation/(depreciation) 0.2 0.0 0.0 0.0 (0.0) -79% 0.8
Ending assets $ 9.2 $ 9.2 $ 9.8 $ 8.2 $ 7.5 -18% $ 9.2
Threadneedle separately managed accounts/sub-advisory
Beginning assets $ 90.5 $ 92.5 $ 103.6 $ 100.7 $ 101.8 13% $ 84.2
Sales 4.3 3.3 3.0 5.2 5.5 30% 14.0
Redemptions (2.8) (2.7) (4.6) (6.1) (6.9) # (11.5)
Market appreciation/(depreciation) and foreign currency translation 0.5 4.4 0.5 3.2 4.3 # 5.7
Other 0.0 6.1 (1.8) (1.2) (1.8) # 11.2
Ending assets $ 92.5 $ 103.6 $ 100.7 $ 101.8 $ 102.9 11% $ 103.6
Total managed assets - institutional $ 121.8 $ 134.4 $ 130.8 $ 130.9 $ 130.1 7% $ 134.4
Managed assets - retirement services:
Collective funds
Beginning assets $ 12.4 $ 12.1 $ 12.1 $ 11.2 $ 11.3 -9% $ 12.6
Sales 0.4 0.4 0.4 0.5 0.4 4% 1.8
Redemptions (0.7) (1.0) (1.2) (0.7) (0.7) -11% (3.5)
Market appreciation/(depreciation) - 0.4 - 0.1 0.2 # 0.7
Other (0.0) 0.2 (0.1) 0.2 0.1 -42% 0.5
Total managed assets - retirement services $ 12.1 $ 12.1 $ 11.2 $ 11.3 $ 11.3 -7% $ 12.1
Managed assets - eliminations and other (5.9) (6.5) (6.4) (4.4) (4.6) -24% (6.5)
Total managed assets $ 231.4 $ 251.5 $ 245.1 $ 249.7 $ 253.3 9% $ 251.5
* Wrap accounts - other company products include flow activity for SPS Non Proprietary products. Cash sales for this product line are included as sales for the managed asset
rollforward but excluded from other cash sales metrics included in these Quarterly Statistical Supplement Tables. Securities America is also excluded.
# Variance 100% or greater.
Note: Managed assets includes all assets managed by Ameriprise Financial, Inc., or its subsidiaries that are investment advisors, but does not include owned assets or administered
assets. The presentation of managed assets may be different when provided by any of these subsidiaries.
11
15. Protection
Income Statements
(Millions, unaudited)
3Q 4Q 1Q 2Q 3Q 3Q'05 vs. 3Q'04 Full Year
2004 2004 2005 2005 2005 % Inc/(Dec) 2004
Revenues
$ 17 $ 19 $ 16 $ 13 $ 17 -1% $ 58
Management, financial advice and service fees
25 27 27 26 27 4% 105
Distribution fees
Net investment income 82 82 81 85 90 9% 316
262 264 270 279 217 -17% 1,023
Premiums
Other revenues 103 103 112 112 109 6% 421
Total revenues 489 495 506 515 460 -6% 1,923
Expenses
Compensation and benefits - field 23 24 25 20 57 # 90
42 39 36 28 38 -11% 143
Interest credited to account values
190 207 213 222 187 -1% 777
Benefits, claims, losses and settlement expenses
Amortization of deferred policy acquisition costs 29 43 44 37 (20) # 132
Interest and debt expense 5 7 6 4 9 75% 19
66 75 75 83 53 -21% 274
Other operating expense
Total expenses 355 395 399 394 324 -9% 1,435
Income before income tax provision and accounting change $ 134 $ 100 $ 107 $ 121 $ 136 0% $ 488
Net investment gains, pretax $ 3 $ 4 $ 2 $ 7 $ 3 -32% $ 2
Contribution margin * 48.1% 45.3% 46.0% 47.4% 38.9% 47.5%
Allocated equity ** $ 1,958 $ 1,964 $ 1,974 $ 1,942 $ 1,965 0% $ 1,964
Return on allocated equity for income before income tax provision NA 25.3% 23.8% 23.5% 23.5% 25.3%
and accounting change ***
* Contribution margin represents total revenues less field compensation and benefits, interest credited to account values and benefits, claims, losses and
settlement expenses as a percentage of total revenues.
** Allocated equity reflects the internal allocation of consolidated shareholders' equity (excluding OCI) to the Company’s operating segments for purposes
of measuring segment pretax operating return on allocated equity. Allocated equity does not reflect insurance company risk-based capital or other
regulatory capital requirements applicable to the Company and certain of its subsidiaries.
*** Calculated using trailing 12 month income before income tax provision and accounting change and the average allocated equity as of the last day of the
preceding three quarters and the current quarter.
# Variance 100% or greater.
13
16. Protection
Product Information
(Millions, unaudited)
3Q 4Q 1Q 2Q 3Q 3Q'05 vs. 3Q'04 Full Year
2004 2004 2005 2005 2005 % Inc/(Dec) 2004
Revenues
VUL/UL $ 165 $ 169 $ 170 $ 167 $ 173 4% $ 658
Term and whole life 21 22 22 23 20 -5% 84
Personal auto and home 116 120 122 128 145 25% 445
Disability income and other 187 184 192 197 122 -35% 736
Total $ 489 $ 495 $ 506 $ 515 $ 460 -6% $ 1,923
14
17. Protection
Selected Statistical Information
(Millions, except where noted, unaudited)
3Q 4Q 1Q 2Q 3Q 3Q'05 vs. 3Q'04 Full Year
2004 2004 2005 2005 2005 % Inc/(Dec) 2004
Owned, managed and administered assets (billions):
Owned assets* $ 13 $ 13 $ 14 $ 14 $ 14 12% $ 13
Life and other non-property and casualty insurance:
Sales:
- VUL/UL $ 77.7 $ 79.5 $ 79.6 $ 79.8 $ 88.3 14% $ 306.1
- Term and whole life $ 5.0 $ 5.1 $ 4.8 $ 5.2 $ 5.4 4% $ 20.0
- Disability and other $ 17.4 $ 17.6 $ 16.4 $ 15.8 $ 15.5 -11% $ 71.5
Lapse rate
- VUL/UL 5.1% 5.2% 5.0% 5.2% 5.2% 5.1%
Face amount outstanding
- VUL/UL $ 97,492 $ 98,910 $ 100,267 $ 102,775 $ 104,331 7% $ 98,910
- Term and whole life $ 42,999 $ 44,850 $ 46,671 $ 48,480 $ 50,255 17% $ 44,850
- Other** $ 2,001 $ 1,995 $ 1,972 $ 1,961 $ 1,941 -3% $ 1,995
Policyholder reserves
- VUL/UL $ 6,247 $ 6,686 $ 6,704 $ 6,847 $ 7,131 14% $ 6,686
- Term and whole life $ 226 $ 228 $ 230 $ 231 $ 232 3% $ 228
- Disability and other $ 2,297 $ 2,334 $ 2,359 $ 2,385 $ 2,429 6% $ 2,334
Net amount at risk***
- VUL/UL $ 49,908 $ 49,773 $ 49,215 $ 49,792 $ 49,171 -1% $ 49,773
- Term and whole life $ 16,343 $ 16,424 $ 16,223 $ 15,896 $ 15,605 -5% $ 16,424
Personal auto and home insurance:
Earned premium $ 109 $ 114 $ 115 $ 121 $ 127 16% $ 422
Policy count (thousands) 392 406 420 434 445 13% 406
Loss ratio 83.4% 83.1% 82.3% 81.8% 83.3% 83.1%
Expense ratio 16.1% 18.4% 15.6% 15.1% 13.0% 16.6%
* Owned assets include certain assets on our balance sheet, principally investments in the general and separate accounts of our life insurance subsidiaries,
as well as cash and cash equivalents, restricted and segregated cash and receivables.
** Includes only other life insurance.
*** Face amount outstanding less policyholder reserves net of re-insurance.
15