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.
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.
FBR Capital Markets reported a net loss of $16.2 million for Q1 2009, compared to a net loss of $10.2 million in Q1 2008. Revenue was $49.7 million for Q1 2009. Institutional brokerage revenue increased to $39.7 million due to adding a convertible securities business in late 2008. Non-compensation expenses decreased 19% to $28.2 million from cost cutting. The company eliminated all debt and reduced balance sheet risk by selling its remaining mortgage backed securities holdings of $454.3 million.
allstate Quarterly Investor Information Earnings Press Release 2004 3rdfinance7
Allstate reported financial results for Q3 2004. While underlying business remained strong with increased premiums and policies in force, catastrophe losses from Hurricanes Charley, Frances, Ivan and Jeanne totaling $1.71 billion resulted in a net loss of $56 million compared to a $691 million profit in Q3 2003. Premiums and deposits for Allstate Financial increased to $4.02 billion for the quarter. Allstate revised its 2004 annual operating income per share guidance downward due to higher than expected catastrophe losses.
- Ameriprise Financial reported income before discontinued operations of $111 million for Q4 2005, down from $226 million in Q4 2004, primarily due to one-time separation costs.
- Adjusted earnings, which exclude one-time items, decreased 4% to $193 million compared to $202 million in Q4 2004, due to a lower tax provision in 2004. Revenues grew 5% to $1.9 billion.
- Key highlights included a 6% increase in mass affluent clients, higher advisor productivity, improved investment performance, and a 5% increase in owned, managed, and administered assets to over $428 billion.
- Bank of America reported third quarter 2006 results with total revenue of $18.961 billion, an 11% increase from third quarter 2005, and net income of $5.416 billion, a 20% increase.
- Net interest income was $8.894 billion, a 1% increase, impacted by the sale of Brazilian operations and prior year FAS 133 impact. Noninterest income increased 20% to $10.067 billion.
- Global Consumer & Small Business Banking reported net income of $2.889 billion, a 13% increase, driven by increases in cards, deposits, and debit purchase volume.
allstate Quarterly Investor Information 2002 4th finance7
Allstate reported their fourth quarter and full year 2002 results. Some key highlights:
- Q4 2002 net income was $447 million, up 69% from Q4 2001. Full year 2002 net income was $1.13 billion, down slightly from 2001.
- Q4 2002 operating income was $618 million, up 100% from Q4 2001. Full year 2002 operating income was $2.08 billion, up from $1.49 billion in 2001.
- Results were driven by increased premiums earned, improved loss frequencies, and increased investment income, partly offset by higher claims severities and catastrophe losses.
- For 2003, Allstate expects operating income per share of $3.20-$3
- Ameriprise Financial reported a 14% increase in net income for Q3 2007 to $198 million compared to Q3 2006. Adjusted earnings increased 3% to $237 million, excluding separation costs.
- Earnings per share increased 17% to $0.83 for Q3 2007 compared to Q3 2006, while adjusted earnings per share increased 5% to $0.99.
- Revenues grew 11% to $2.2 billion in Q3 2007 driven by strong growth in management fees, distribution fees, and net investment income from hedges.
This document summarizes the financial performance of a company for the third quarter and first nine months of 2005 compared to the same periods in 2004. It shows that net sales increased slightly for the quarter but increased 5% year-to-date, while earnings from continuing operations increased for both periods. On a segment level, the Household Group - North America saw stable sales growth and increased earnings for the quarter and year-to-date. Total assets decreased slightly from the previous fiscal year end while long-term debt increased significantly.
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.
FBR Capital Markets reported a net loss of $16.2 million for Q1 2009, compared to a net loss of $10.2 million in Q1 2008. Revenue was $49.7 million for Q1 2009. Institutional brokerage revenue increased to $39.7 million due to adding a convertible securities business in late 2008. Non-compensation expenses decreased 19% to $28.2 million from cost cutting. The company eliminated all debt and reduced balance sheet risk by selling its remaining mortgage backed securities holdings of $454.3 million.
allstate Quarterly Investor Information Earnings Press Release 2004 3rdfinance7
Allstate reported financial results for Q3 2004. While underlying business remained strong with increased premiums and policies in force, catastrophe losses from Hurricanes Charley, Frances, Ivan and Jeanne totaling $1.71 billion resulted in a net loss of $56 million compared to a $691 million profit in Q3 2003. Premiums and deposits for Allstate Financial increased to $4.02 billion for the quarter. Allstate revised its 2004 annual operating income per share guidance downward due to higher than expected catastrophe losses.
- Ameriprise Financial reported income before discontinued operations of $111 million for Q4 2005, down from $226 million in Q4 2004, primarily due to one-time separation costs.
- Adjusted earnings, which exclude one-time items, decreased 4% to $193 million compared to $202 million in Q4 2004, due to a lower tax provision in 2004. Revenues grew 5% to $1.9 billion.
- Key highlights included a 6% increase in mass affluent clients, higher advisor productivity, improved investment performance, and a 5% increase in owned, managed, and administered assets to over $428 billion.
- Bank of America reported third quarter 2006 results with total revenue of $18.961 billion, an 11% increase from third quarter 2005, and net income of $5.416 billion, a 20% increase.
- Net interest income was $8.894 billion, a 1% increase, impacted by the sale of Brazilian operations and prior year FAS 133 impact. Noninterest income increased 20% to $10.067 billion.
- Global Consumer & Small Business Banking reported net income of $2.889 billion, a 13% increase, driven by increases in cards, deposits, and debit purchase volume.
allstate Quarterly Investor Information 2002 4th finance7
Allstate reported their fourth quarter and full year 2002 results. Some key highlights:
- Q4 2002 net income was $447 million, up 69% from Q4 2001. Full year 2002 net income was $1.13 billion, down slightly from 2001.
- Q4 2002 operating income was $618 million, up 100% from Q4 2001. Full year 2002 operating income was $2.08 billion, up from $1.49 billion in 2001.
- Results were driven by increased premiums earned, improved loss frequencies, and increased investment income, partly offset by higher claims severities and catastrophe losses.
- For 2003, Allstate expects operating income per share of $3.20-$3
- Ameriprise Financial reported a 14% increase in net income for Q3 2007 to $198 million compared to Q3 2006. Adjusted earnings increased 3% to $237 million, excluding separation costs.
- Earnings per share increased 17% to $0.83 for Q3 2007 compared to Q3 2006, while adjusted earnings per share increased 5% to $0.99.
- Revenues grew 11% to $2.2 billion in Q3 2007 driven by strong growth in management fees, distribution fees, and net investment income from hedges.
This document summarizes the financial performance of a company for the third quarter and first nine months of 2005 compared to the same periods in 2004. It shows that net sales increased slightly for the quarter but increased 5% year-to-date, while earnings from continuing operations increased for both periods. On a segment level, the Household Group - North America saw stable sales growth and increased earnings for the quarter and year-to-date. Total assets decreased slightly from the previous fiscal year end while long-term debt increased significantly.
- 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.
allstate Quarterly Investor Information 2002 3rd finance7
The Allstate Corporation reported higher net income and operating income in the third quarter of 2002 compared to the same period in 2001. Operating income increased to $548 million from $401 million due primarily to increased property-liability premiums earned, improved auto and homeowners loss frequencies, and lower catastrophe losses. However, these gains were partly offset by reserve strengthening for asbestos and environmental losses and decreased operating income at Allstate Financial. For the full year 2002, Allstate anticipates operating income per share will be between $2.80 to $3.00, excluding restructuring charges.
erie insurance group 2007-second-quarter-reportfinance49
- Erie Indemnity Company reported strong financial results for the second quarter of 2007, with net income increasing 25.3% over the prior year.
- Management fee revenue grew 2.1% and direct written premiums for the Property and Casualty Group increased 0.9%.
- Underwriting results improved significantly, with the combined ratio decreasing from 99.4% to 84.8% due to favorable development of prior year loss reserves.
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 consolidated statement of source and application of funds summarizes the flows of funds for Credit Suisse Group for 1999 and 1998. In 1999, funds from operations totaled CHF 12.7 billion, while equity transactions provided CHF 787 million. Investments in long-term assets required CHF 4.1 billion. Overall, there was a net inflow of funds from operations, equity transactions, and investments of CHF 8.4 billion.
Bank of America reported record earnings of $16.9 billion for 2005, up 19% from 2004. Revenue grew 9% to $57.6 billion driven by a 19% increase in noninterest income. Earnings were driven by strong consumer growth and commercial lending recovery, despite higher provision costs and fewer securities gains. For the fourth quarter of 2005, earnings were $3.8 billion, down 9% from the previous quarter due to an 8% decline in noninterest income and a 21% rise in provision for credit losses.
allstate Quarterly Investor Information Earnings Press Release 2004 1stfinance7
Allstate reported strong financial results for the first quarter of 2004, with a 43% increase in net income and 52% increase in operating income per share compared to the first quarter of 2003. Operating income reached $1 billion for the first quarter, driven by higher premiums earned in Property-Liability and higher realized capital gains. Property-Liability underwriting income increased 109% due to higher premiums, favorable loss trends, and lower catastrophes. Allstate Financial also saw increases in premiums and deposits as well as operating income. As a result of the strong performance, Allstate increased its full-year 2004 operating income per share guidance.
This document summarizes the income statement and balance sheet of Credit Suisse Group for 1999/2000 and 1998/1999. It shows that the company's net profit increased 54% to CHF 3.948 billion in 1999/2000 compared to CHF 2.558 billion in 1998/1999. Total shareholders' equity grew 16% to CHF 23.668 billion. The balance sheet reflects increases in investments in Group companies and securities holdings. Notes provide additional details on contingent liabilities, bonds, share capital amounts and proposed retained earnings allocation.
This document provides a summary of Credit Suisse Group's 3rd quarter 2001 results. It reports a net operating profit of CHF 21 million but an overall reported loss of CHF 299 million due to losses at CSFB and unrealized investment losses. It highlights continued net new asset inflows but lower revenues and profits across most business units due to difficult market conditions. It also summarizes asset quality, capital adequacy, results by business unit and other financial details on the quarter.
Bank of America reported third quarter 2005 results with the following key points:
1) Diluted EPS was up 12% year-over-year but down 4% quarter-over-quarter due to higher credit costs and lower securities gains.
2) Revenue grew 16% year-over-year and 4% quarter-over-quarter driven by strong growth across all business segments.
3) Credit costs increased from very low levels in previous quarters as charge-offs moved off recent lows.
The document summarizes Tribune Company's financial results for the third quarter and first three quarters of 2005 compared to the same periods in 2004. Key points:
- Operating revenues and operating profit increased in the third quarter of 2005 but decreased for the first three quarters compared to the prior year.
- Net income decreased significantly for the third quarter but increased for the first three quarters of 2005 versus 2004.
- Earnings per share decreased substantially for the third quarter but increased for the first three quarters compared to the previous year.
- The document reports financial results for Clorox for the third quarter and first nine months of fiscal year 2006 compared to the same periods in fiscal year 2005. Net sales increased 7% in the third quarter and 6% year-to-date. Earnings from continuing operations were $110 million for the third quarter and $301 million year-to-date.
This document provides an 11-year financial summary for Walmart from 1992-2002. Some key details include:
- Net sales increased 14% in 2002 to $217.8 billion, with a 6% increase in domestic store sales. Operating expenses rose slightly as a percentage of sales.
- Earnings per share were $1.49 in 2002, up from $1.41 in 2001. Return on assets was 8.5% and return on equity was 20.1%.
- The number of U.S. stores grew to include over 1,000 Supercenters and 500 SAM'S Clubs, with international units totaling over 1,170.
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.
This document provides financial highlights and selected financial data for ConocoPhillips for the first quarter of 2005 compared to the first quarter of 2004. Some key figures include:
- Net income for Q1 2005 was $2.912 billion compared to $1.616 billion in Q1 2004.
- Income from continuing operations was $2.923 billion in Q1 2005 compared to $1.603 billion in Q1 2004.
- Total worldwide crude oil and natural gas production was 942 thousand barrels of oil equivalent per day in Q1 2005.
- Total revenues for Q1 2005 were $38.918 billion compared to $30.217 billion in Q1 2004.
- Recurring net income for the quarter was R$3.4 billion, a 4.8% decrease from the previous quarter. For the first nine months of 2012, recurring net income was R$10.5 billion, a 3.2% decrease from the same period in 2011.
- The total loan portfolio grew 1.1% from the previous quarter to R$437.6 billion, and increased 10% from September 2011.
- Financial margin with clients decreased 3% from the previous quarter to R$12 billion due to a fall in interest rates and higher growth in lower risk loans.
ATSI Communications reported an 80% increase in revenue and 144% increase in gross profit for the third quarter of fiscal year 2010 compared to the same period the previous year. Revenue was $6.5 million with a gross profit of $485,000. The company also achieved positive cash flow from operations for the quarter. The CEO stated they were pleased with the significant improvements and returning to a growth mode while participating in a growing voice over internet protocol market.
This document discusses General Motors' use of non-GAAP financial measures in its earnings releases and analyst presentations. It provides definitions for four non-GAAP measures - adjusted net income, adjusted earnings before tax, managerial cash flow, and GM North America vehicle revenue per unit. It also lists adjustments made to arrive at these non-GAAP figures from the reported GAAP measures. Management believes the non-GAAP measures provide useful supplemental information for assessing performance and making operational and investment decisions.
The document provides supplemental information on Credit Suisse's 1st quarter 2002 results. It summarizes that:
1) Total impairments for insurance units amounted to CHF 0.9 billion, heavily impacting investment income and decreasing net operating profit by CHF 455 million.
2) Assets under management as of March 31, 2002 and December 31, 2001 are shown broken down by business division and asset class.
3) Additional supplements provide breakdowns of bank fee income, Credit Suisse First Boston revenue by business line, emerging markets exposures, and exposures, non-performing credit exposures, and provision expenses for Q1 2002.
Arch Capital Group Ltd. reported financial results for the first quarter of 2009. Net income was $139.9 million compared to $189.4 million in the first quarter of 2008. After-tax operating income was $169 million compared to $202 million the prior year. The combined ratio, a measure of underwriting profitability, was 86.7% for the first quarter of 2009 compared to 86.2% the previous year. Investment income was $95.9 million for the quarter compared to $122.2 million in the first quarter of 2008. Book value per common share increased to $54.61 at the end of March 2009.
7 Content Marketing tips to transform your Digital MarketingDavid Duncan
The document provides 7 tips for content marketing: 1) Match content to marketing plans and goals, 2) Use content to develop a personable brand, 3) Having no content results in no brand visibility, 4) Understand what information prospects search for, 5) Match content to stages in the sales funnel, 6) Shift from product promotion to consumer education, and 7) Experts provide quality content to develop credibility. Content marketing is creating relevant content to attract and engage audiences without direct selling, in order to drive business outcomes.
The document appears to be a collection of images without descriptions. It includes pictures of various locations around the world like Malaysia, Germany, California, and China. Some of the images show natural landscapes like trees and waterfalls while others feature architectural structures like bridges, towers, and temples. There are also images of underwater scenes and aerial views of cities.
- 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.
allstate Quarterly Investor Information 2002 3rd finance7
The Allstate Corporation reported higher net income and operating income in the third quarter of 2002 compared to the same period in 2001. Operating income increased to $548 million from $401 million due primarily to increased property-liability premiums earned, improved auto and homeowners loss frequencies, and lower catastrophe losses. However, these gains were partly offset by reserve strengthening for asbestos and environmental losses and decreased operating income at Allstate Financial. For the full year 2002, Allstate anticipates operating income per share will be between $2.80 to $3.00, excluding restructuring charges.
erie insurance group 2007-second-quarter-reportfinance49
- Erie Indemnity Company reported strong financial results for the second quarter of 2007, with net income increasing 25.3% over the prior year.
- Management fee revenue grew 2.1% and direct written premiums for the Property and Casualty Group increased 0.9%.
- Underwriting results improved significantly, with the combined ratio decreasing from 99.4% to 84.8% due to favorable development of prior year loss reserves.
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 consolidated statement of source and application of funds summarizes the flows of funds for Credit Suisse Group for 1999 and 1998. In 1999, funds from operations totaled CHF 12.7 billion, while equity transactions provided CHF 787 million. Investments in long-term assets required CHF 4.1 billion. Overall, there was a net inflow of funds from operations, equity transactions, and investments of CHF 8.4 billion.
Bank of America reported record earnings of $16.9 billion for 2005, up 19% from 2004. Revenue grew 9% to $57.6 billion driven by a 19% increase in noninterest income. Earnings were driven by strong consumer growth and commercial lending recovery, despite higher provision costs and fewer securities gains. For the fourth quarter of 2005, earnings were $3.8 billion, down 9% from the previous quarter due to an 8% decline in noninterest income and a 21% rise in provision for credit losses.
allstate Quarterly Investor Information Earnings Press Release 2004 1stfinance7
Allstate reported strong financial results for the first quarter of 2004, with a 43% increase in net income and 52% increase in operating income per share compared to the first quarter of 2003. Operating income reached $1 billion for the first quarter, driven by higher premiums earned in Property-Liability and higher realized capital gains. Property-Liability underwriting income increased 109% due to higher premiums, favorable loss trends, and lower catastrophes. Allstate Financial also saw increases in premiums and deposits as well as operating income. As a result of the strong performance, Allstate increased its full-year 2004 operating income per share guidance.
This document summarizes the income statement and balance sheet of Credit Suisse Group for 1999/2000 and 1998/1999. It shows that the company's net profit increased 54% to CHF 3.948 billion in 1999/2000 compared to CHF 2.558 billion in 1998/1999. Total shareholders' equity grew 16% to CHF 23.668 billion. The balance sheet reflects increases in investments in Group companies and securities holdings. Notes provide additional details on contingent liabilities, bonds, share capital amounts and proposed retained earnings allocation.
This document provides a summary of Credit Suisse Group's 3rd quarter 2001 results. It reports a net operating profit of CHF 21 million but an overall reported loss of CHF 299 million due to losses at CSFB and unrealized investment losses. It highlights continued net new asset inflows but lower revenues and profits across most business units due to difficult market conditions. It also summarizes asset quality, capital adequacy, results by business unit and other financial details on the quarter.
Bank of America reported third quarter 2005 results with the following key points:
1) Diluted EPS was up 12% year-over-year but down 4% quarter-over-quarter due to higher credit costs and lower securities gains.
2) Revenue grew 16% year-over-year and 4% quarter-over-quarter driven by strong growth across all business segments.
3) Credit costs increased from very low levels in previous quarters as charge-offs moved off recent lows.
The document summarizes Tribune Company's financial results for the third quarter and first three quarters of 2005 compared to the same periods in 2004. Key points:
- Operating revenues and operating profit increased in the third quarter of 2005 but decreased for the first three quarters compared to the prior year.
- Net income decreased significantly for the third quarter but increased for the first three quarters of 2005 versus 2004.
- Earnings per share decreased substantially for the third quarter but increased for the first three quarters compared to the previous year.
- The document reports financial results for Clorox for the third quarter and first nine months of fiscal year 2006 compared to the same periods in fiscal year 2005. Net sales increased 7% in the third quarter and 6% year-to-date. Earnings from continuing operations were $110 million for the third quarter and $301 million year-to-date.
This document provides an 11-year financial summary for Walmart from 1992-2002. Some key details include:
- Net sales increased 14% in 2002 to $217.8 billion, with a 6% increase in domestic store sales. Operating expenses rose slightly as a percentage of sales.
- Earnings per share were $1.49 in 2002, up from $1.41 in 2001. Return on assets was 8.5% and return on equity was 20.1%.
- The number of U.S. stores grew to include over 1,000 Supercenters and 500 SAM'S Clubs, with international units totaling over 1,170.
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.
This document provides financial highlights and selected financial data for ConocoPhillips for the first quarter of 2005 compared to the first quarter of 2004. Some key figures include:
- Net income for Q1 2005 was $2.912 billion compared to $1.616 billion in Q1 2004.
- Income from continuing operations was $2.923 billion in Q1 2005 compared to $1.603 billion in Q1 2004.
- Total worldwide crude oil and natural gas production was 942 thousand barrels of oil equivalent per day in Q1 2005.
- Total revenues for Q1 2005 were $38.918 billion compared to $30.217 billion in Q1 2004.
- Recurring net income for the quarter was R$3.4 billion, a 4.8% decrease from the previous quarter. For the first nine months of 2012, recurring net income was R$10.5 billion, a 3.2% decrease from the same period in 2011.
- The total loan portfolio grew 1.1% from the previous quarter to R$437.6 billion, and increased 10% from September 2011.
- Financial margin with clients decreased 3% from the previous quarter to R$12 billion due to a fall in interest rates and higher growth in lower risk loans.
ATSI Communications reported an 80% increase in revenue and 144% increase in gross profit for the third quarter of fiscal year 2010 compared to the same period the previous year. Revenue was $6.5 million with a gross profit of $485,000. The company also achieved positive cash flow from operations for the quarter. The CEO stated they were pleased with the significant improvements and returning to a growth mode while participating in a growing voice over internet protocol market.
This document discusses General Motors' use of non-GAAP financial measures in its earnings releases and analyst presentations. It provides definitions for four non-GAAP measures - adjusted net income, adjusted earnings before tax, managerial cash flow, and GM North America vehicle revenue per unit. It also lists adjustments made to arrive at these non-GAAP figures from the reported GAAP measures. Management believes the non-GAAP measures provide useful supplemental information for assessing performance and making operational and investment decisions.
The document provides supplemental information on Credit Suisse's 1st quarter 2002 results. It summarizes that:
1) Total impairments for insurance units amounted to CHF 0.9 billion, heavily impacting investment income and decreasing net operating profit by CHF 455 million.
2) Assets under management as of March 31, 2002 and December 31, 2001 are shown broken down by business division and asset class.
3) Additional supplements provide breakdowns of bank fee income, Credit Suisse First Boston revenue by business line, emerging markets exposures, and exposures, non-performing credit exposures, and provision expenses for Q1 2002.
Arch Capital Group Ltd. reported financial results for the first quarter of 2009. Net income was $139.9 million compared to $189.4 million in the first quarter of 2008. After-tax operating income was $169 million compared to $202 million the prior year. The combined ratio, a measure of underwriting profitability, was 86.7% for the first quarter of 2009 compared to 86.2% the previous year. Investment income was $95.9 million for the quarter compared to $122.2 million in the first quarter of 2008. Book value per common share increased to $54.61 at the end of March 2009.
7 Content Marketing tips to transform your Digital MarketingDavid Duncan
The document provides 7 tips for content marketing: 1) Match content to marketing plans and goals, 2) Use content to develop a personable brand, 3) Having no content results in no brand visibility, 4) Understand what information prospects search for, 5) Match content to stages in the sales funnel, 6) Shift from product promotion to consumer education, and 7) Experts provide quality content to develop credibility. Content marketing is creating relevant content to attract and engage audiences without direct selling, in order to drive business outcomes.
The document appears to be a collection of images without descriptions. It includes pictures of various locations around the world like Malaysia, Germany, California, and China. Some of the images show natural landscapes like trees and waterfalls while others feature architectural structures like bridges, towers, and temples. There are also images of underwater scenes and aerial views of cities.
- Net revenues for Ameriprise Financial declined to $6.97 billion in 2008 from $8.56 billion in 2007 due to declining markets and reduced client activity. The company reported a net loss of $38 million for 2008 compared to net income of $814 million in 2007.
- Despite the difficult market conditions, Ameriprise Financial's business remains sound due to its conservative risk management approach and strong balance sheet fundamentals including $34 billion in diversified assets, $6 billion in cash, and $700 million in excess capital.
- The company continues to execute its strategy focused on financial planning, serving clients through over 12,000 advisors, and growing while protecting assets over the long term.
There is a lot of chatter about President Obama’s new homeowner mortgage reduction plan. And while it will be helpful to a small number of people, there are some fairly rigid criteria that make it difficult to access for the majority of homeowners who are in trouble.
- Ameriprise Financial reported a net loss of $70 million for Q3 2008 compared to net income of $198 million in Q3 2007, driven by $301 million in after-tax losses from credit market dislocations.
- Excluding credit market losses, core operating earnings were $231 million after-tax for Q3 2008 compared to $237 million after-tax for Q3 2007.
- The company maintained a strong balance sheet with over $4 billion in cash and cash equivalents and expects to have $1 billion in excess capital at the end of 2008 after allocating capital to acquisitions.
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.
Bank of America reported first quarter 2007 results with key highlights as follows:
- Earnings of $5.3 billion and diluted EPS of $1.16, up 8% from first quarter 2006.
- Total revenue grew 3% to $18.4 billion compared to first quarter 2006, driven by a 10% increase in noninterest income, though net interest income declined 5%.
- Credit quality remained sound though provision expenses increased 23% compared to first quarter 2006 as credit costs trend toward more normal levels.
- Global Wealth and Investment Management saw client assets reach new highs of $547 billion and added over 500 premier banking sales associates over the past year.
- Ameriprise Financial reported net income of $171 million for Q4 2006, up 54% from Q4 2005. Adjusted earnings excluding one-time costs were $251 million, up 30%.
- Revenues grew 16% to $2.2 billion driven by higher fees from increased assets under management and strong sales. Expenses rose 13% primarily due to increased compensation.
- For the full year, income grew 13% to $631 million and adjusted earnings grew 25% to $866 million. The company exceeded its cost savings target for the year.
- 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.
- Bank of America reported third quarter 2007 results with net income of $3.7 billion, down 32% from the third quarter of 2006. Earnings per share were $0.82.
- Revenues declined 12% due to a 24% drop in noninterest income driven by losses in Global Corporate and Investment Banking from market turbulence.
- The provision for credit losses increased 74% to $2.03 billion reflecting increased consumer loan loss rates and impacts from the weakened housing market.
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.
Danaher Corporation announced record financial results for the third quarter and first nine months of 2006. Net earnings increased 17% for the quarter and 24% year-to-date compared to the same periods in 2005. Sales also increased substantially both for the quarter (24% higher) and year-to-date (21% higher). The CEO stated that core revenue growth remained strong and they expect to continue delivering positive results for the remainder of the year based on the strength of their businesses.
The document provides financial results for Ameriprise Financial for Q3 2006. Key points:
- Net income was $174M, up 39% from prior year. Adjusted earnings excluding one-time costs were $231M, up 29%.
- Revenues grew 6% to $2B driven by higher fees from increased assets in wrap accounts and variable annuities.
- Expenses grew slower than revenues. Compensation increased due to business growth and incentives. Interest expenses fell due to lower fixed annuity balances.
- Assets under management grew 5% to $440B despite selling its recordkeeping business. Strong flows continued in wrap accounts and variable annuities.
Ameriprise Financial reported first quarter 2006 results with the following highlights:
- Net income was $145 million compared to $175 million in the prior year quarter. Adjusted earnings, which exclude certain one-time items, increased 17% to $189 million.
- Revenues grew 6% to $1.9 billion. Adjusted revenues grew 10%, driven by 17% growth in management, financial advice, and service fees.
- Adjusted return on equity increased to 10.4% from 10.2% in the previous quarter.
- The company repurchased $275 million of its shares during the quarter and authorized up to $750 million additional in share repurchases
Verizon Reports Sustained Revenue Growth and Continued Strong Cash Flows fo...finance2
This document summarizes Verizon Communications' consolidated statements of income for the fourth quarter and full year of 2008. Some key details:
- For Q4 2008, total operating revenues increased 3.4% to $24.6 billion and net income increased 15.2% to $1.24 billion compared to Q4 2007.
- For the full year 2008, total operating revenues increased 4.2% to $97.4 billion and net income increased 16.4% to $6.43 billion compared to 2007.
Fannie Mae reported a $29 billion loss for Q3 2008, driven by a $21.4 billion non-cash charge to establish a valuation allowance against deferred tax assets due to deteriorating mortgage market conditions. Credit-related expenses increased to $9.2 billion due to higher loan charge-offs and additions to loss reserves. Net worth declined to $9.4 billion from $41.4 billion in Q2 2008 primarily due to the deferred tax asset valuation allowance. Fannie Mae was placed into conservatorship by FHFA in September 2008.
Bank of America reported record first quarter 2006 earnings of $5 billion, up 14% from the same period in 2005. Net income grew 1% excluding merger charges. Total revenue increased 10% driven by a 55% rise in market sensitive revenue and 5% growth in other revenue. Expenses grew 5% while operating leverage was positive at 5%. The financial results reflected strong performance across global consumer and small business banking and card services.
WellPoint provided reconciliations of its Q1 2005 earnings per share compared to Q1 2004. Excluding certain one-time tax benefits in each quarter, EPS grew 17% year-over-year. It also presented "comparable basis" financial information for Q1 2004 that combined the historical results of legacy Anthem and WellPoint Health Networks to provide a meaningful comparison after their merger. On this comparable basis, total operating revenue grew 9% in Q1 2005 while benefit expenses increased 10% and operating margins expanded.
Danaher Corporation announced record results for the second quarter and first half of 2005. Net earnings for the second quarter increased 25.5% compared to 2004, and sales increased 19%. For the first six months, net earnings increased 27.5% and sales increased 19%. The company's president stated that growth from existing businesses accounted for 5.5% sales growth in the quarter and that the company saw broad-based strength across its businesses.
1) UAL Corporation reported significant losses in 2001 due to the impacts of September 11th terrorist attacks and the weak economy. UAL's losses totaled $2.1 billion for the year, with passenger revenues down 39% in the fourth quarter.
2) United Airlines operates a major domestic and international air transportation network, with hubs in Chicago, Denver, Los Angeles, San Francisco, and Washington D.C. It focuses on markets in North America, Pacific, Atlantic, and Latin America.
3) In response to the difficult financial conditions following 9/11, United undertook large schedule reductions and employee furloughs to reduce costs, while continuing efforts to strengthen revenues and customer service.
- The company reported first quarter 2005 earnings per share of $0.64, up from $0.53 in the first quarter of 2004. This included a one-time recovery and excluded gains from real estate sales.
- Fleet Management Solutions revenue increased 10% and operating revenue grew 5% compared to the prior year, driven by acquisitions and commercial rental growth. This led to a 28% increase in net earnings before tax.
- Supply Chain Solutions revenue rose 8% due to new business, but earnings declined due to lower margins in some automotive accounts. Dedicated Contract Carriage earnings also declined due to contract losses and higher costs.
- The company reported first quarter 2005 earnings per share of $0.64, up from $0.53 in the first quarter of 2004.
- Fleet Management Solutions revenue increased 10% and earnings increased 28% compared to the prior year period.
- The company is increasing its full year 2005 earnings forecast to a range of $3.30 to $3.40 per share.
Aon reported first quarter 2008 results with total revenue growing 7% to $1.9 billion and EPS from continuing operations increasing 10% to $0.56. Key highlights included adjusted EPS excluding items increasing 25% to $0.71, adjusted pretax margins increasing in both brokerage up 100 bps to 19.5% and consulting up 430 bps to 19.2%, and the company repurchasing $860 million of shares year-to-date. Segment reviews showed brokerage organic revenue up 2% and consulting up 4% while pretax income rose in both segments.
- Itaú Unibanco reported a 3.1% increase in recurring net income for the 2nd quarter of 2013 compared to the previous quarter, totaling R$3.6 billion.
- Operational performance was positive, with the credit portfolio growing 2.5% in the quarter. Financial margin with clients grew 3.4% compared to the previous quarter.
- Credit quality improved, with non-performing loans decreasing 30 basis points in the quarter and 100 basis points over 12 months. Loan loss provisions expenses were stable compared to the previous quarter.
This document provides a summary of Fannie Mae's financial results for the first quarter of 2008. Some key points:
- Fannie Mae reported a net loss of $2.2 billion for the quarter, an improvement from a $3.6 billion loss in the previous quarter. Revenues grew but losses on investments and derivatives also increased.
- Credit losses rose to $3.2 billion due to higher mortgage defaults and loss severities from falling home prices and economic weakness.
- Fannie Mae plans to raise $6 billion in new capital through stock offerings to maintain a strong balance sheet and provide stability in the mortgage market.
- Management is focusing on tightening lending standards and mitigating
Similar to ameriprise Earnings_Release_102405 (20)
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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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
ameriprise Earnings_Release_102405
1. News Release
Ameriprise Financial Reports Third Quarter Earnings
Ameriprise Financial reports earnings for the first time as a public
company following its spin off from American Express Company on September 30, 2005
Net income before discontinued operations per diluted share was $0.50
Adjusted earnings per diluted share were $0.73
Minneapolis – October 24, 2005 – Ameriprise Financial, Inc. (NYSE: AMP) today reported net income
before discontinued operations of $123 million for the third quarter, down 35 percent from $188 million a
year ago. Adjusted earnings – net income excluding discontinued operations, AMEX Assurance and non-
recurring separation costs – increased 11 percent, to $179 million in 2005 from $161 million in the 2004
quarter. Net income before discontinued operations per diluted share for the third quarter of 2005 was
$0.50. Adjusted earnings per diluted share for the third quarter 2005 were $0.73, up 11 percent from the
comparable period last year.
Included in both net income and adjusted earnings for the third quarter of 2005 is a $70 million expense,
$46 million after-tax, related to the comprehensive settlement of the consolidated securities class action
lawsuit discussed later in this release. Also included in the quarter is an after-tax benefit of $44 million
from the annual Deferred Acquisition Cost (DAC) assessment, $13 million in tax expenses related to the
finalization of prior period tax returns and $4 million in after-tax realized net investment losses. Included in
third quarter 2004 were $22 million in after-tax regulatory and legal costs, an after-tax benefit of $15
million from the annual DAC assessment and $7 million in after-tax realized net investment gains.
Revenues grew 9 percent to $1.9 billion in the third quarter of 2005 from $1.7 billion in the same period of
2004. Adjusted revenues – revenues excluding discontinued operations and AMEX Assurance – grew 15
percent, predominantly driven by 25 percent growth in management, financial advice and service fees
and 19 percent growth in distribution fees for the same period.
Return on equity – calculated using net income before discontinued operations, which includes separation
costs, and equity excluding both the assets and liabilities of discontinued operations – for the 12 months
ended September 30, 2005 was 9.8 percent.
“Our results for the third quarter were strong, reflecting continued success in our strategies to increase
financial plan penetration, target mass affluent clients and improve advisor productivity. We have
succeeded in enhancing our operating performance while successfully executing a substantial number of
tasks to separate from American Express,” said Jim Cracchiolo, Chairman and Chief Executive Officer.
2. “In addition to generating improved operating performance, we rebranded our company to Ameriprise
Financial, established the RiverSource brand for our products, launched a new advertising campaign and
completed the legal separation from American Express through a stock dividend paid on September 30,”
added Cracchiolo.
Management believes that the presentation of “adjusted” financial measures best reflects the underlying
performance of the company’s ongoing operations. The adjusted financial measures exclude accounting
change, discontinued operations, AMEX Assurance and non-recurring separation costs. This presentation
aligns with the pro forma financials contained in our Form 10, which was filed August 19, 2005 with the
Securities and Exchange Commission (SEC).
Ameriprise Financial, Inc.
Summary
(Unaudited)
Dollars in millions Diluted Per Share Data
3Q05 3Q04 %chg 3Q05 3Q04 %chg
Net income $ 125 $ 199 (38)% $ 0.50 $ 0.81 (38)%
Less: Income from discontinued operations 2 11 (87)% - 0.04 (87)%
Income before discontinued operations 123 188 (35)% 0.50 0.77 (35)%
Less: Income attributable to AMEX Assurance,
after-tax 3 27 (90)% 0.01 0.11 (90)%
Add: Separation costs, after-tax 59 - # 0.24 - #
Adjusted earnings, after-tax $ 179 $ 161 11% $ 0.73 $ 0.66 11%
# - Variance of 100% or greater.
Key Operating Highlights
Total clients increased 2 percent from a year ago to 2.8 million, with client retention remaining strong at
94 percent. The number of mass affluent clients increased 12 percent from the year ago period. Clients
with a financial plan increased to 43 percent of our branded advisor client base, up from 42 percent in the
year ago period. The company sold approximately 54,500 financial plans in the third quarter of 2005, up 7
percent from the comparable year ago period.
Advisor productivity showed continued improvement, with branded advisor cash sales up 14 percent,
retail managed assets up 13 percent and Gross Dealer Concession (GDC) up 17 percent.
Total advisors grew 1 percent to 12,188 from 12,071 at the end of the prior year quarter. Branded
advisors of 10,480 decreased less than 1 percent from a year ago due to fewer employee advisor
appointments during the second and third quarters. Advisor annualized retention was 91 percent for
franchisees and 64 percent for employees.
At September 30, 2005, owned, managed and administered assets increased 11 percent from September
30, 2004, or $42 billion, to over $420 billion. The growth was driven by increases of $14 billion in SPS
wrap assets, $13 billion in higher Threadneedle managed assets and $9 billion in higher owned assets.
During the quarter, the company transferred its 50 percent ownership interest in American Express
International Deposit Company (AEIDC) to American Express. All periods have been restated to remove
AEIDC assets from the owned category and to report the related investment portfolio in the managed
category. During the third quarter, the company received a $1.1 billion capital contribution from American
Express. The impact on assets due to the AMEX Assurance transaction was immaterial.
2
3. Ameriprise Financial, Inc.
Consolidated Income Statements
Includes AMEX Assurance
(Dollars in millions, unaudited)
Three Months Ended Nine Months Ended
September 30, Percent September 30, Percent
2005 2004 Inc/(Dec) 2005 2004 Inc/(Dec)
Revenues
Management, financial advice and service fees $ 687 $ 550 25% $ 1,927 $ 1,642 17%
Distribution fees 296 248 19% 873 834 5%
Net investment income 561 520 8% 1,667 1,566 6%
Premiums 202 262 (23)% 751 759 (1)%
Other revenues 127 132 (3)% 397 383 4%
Total revenues 1,873 1,712 9% 5,615 5,184 8%
Expenses
Compensation and benefits:
Field 408 311 31% 1,141 992 15%
Non-field 295 249 19% 854 698 23%
Total compensation and benefits 703 560 26% 1,995 1,690 18%
Interest credited to account values 337 302 11% 976 926 5%
Benefits, claims, losses and settlement expenses 190 205 (8)% 646 605 7%
Amortization of deferred acquisition costs 49 108 (55)% 319 312 2%
Interest and debt expense 16 13 27% 52 37 41%
Other expense 305 263 16% 841 762 10%
Total expenses before separation costs 1,600 1,451 10% 4,829 4,332 11%
Income from continuing operations before income tax
provision, separation costs and accounting change 273 261 4% 786 852 (8)%
Income tax provision before tax benefit attributable 91 73 25% 230 253 (9)%
to separation costs
Income from continuing operations before separation costs
and accounting change 182 188 (3)% 556 599 (7)%
Separation costs, after-tax * 59 - # 109 - #
Income from continuing operations before accounting change 123 188 (35)% 447 599 (25)%
Discontinued operations 2 11 (87)% 16 31 (49)%
Cumulative effect of accounting change, net of tax - - - - (71) #
Net income $ 125 $ 199 (38)% $ 463 $ 559 (17)%
AMEX Assurance net income $ 3 $ 27 $ 56 $ 79
Weighted average common shares outstanding:
Basic (millions) 246.2 246.2 - 246.2 246.2 -
Diluted (millions) 246.2 246.2 - 246.2 246.2 -
# Variance of 100% or greater.
* Assumes 35% statutory tax rate on separation costs.
Third Quarter 2005 Consolidated Results
Consolidated revenues rose 9 percent to $1.9 billion, up from $1.7 billion in the year ago quarter.
Adjusted revenues, which exclude AMEX Assurance-related revenues, grew 15 percent.
Management, financial advice and service fees grew 25 percent to $687 million, driven by higher
assets under management, including the impact of market appreciation, Threadneedle hedge
3
4. fund performance fees and greater SPS wrap fees. The impact of changes attributable to AMEX
Assurance was immaterial.
Distribution fees grew 19 percent to $296 million, as a result of an increase in fees from retail
brokerage activity driven by stronger sales.
Net investment income grew 8 percent to $561 million, driven by higher asset levels. Included in
net investment income are the $6 million in net investment losses, which compared to $11 million
of net investment gains from the third quarter of 2004. The impact of changes attributable to
AMEX Assurance was immaterial.
Premiums declined 23 percent to $202 million primarily due to the ceding of the AMEX Assurance
business to American Express. Third quarter 2004 revenues included $62 million of premiums
related to AMEX Assurance and third quarter 2005 revenues included $(15) million of premiums
related to AMEX Assurance. Excluding AMEX Assurance, adjusted premiums increased 9
percent to $217 million due to growth in our home and auto insurance sales, most notably from
the Costco alliance.
Consolidated expenses totaled $1.7 billion for the three months ended September 30, 2005, up 17
percent from $1.5 billion for the three months ended September 30, 2004. This increase includes $92
million in non-recurring separation costs. Adjusted expenses, excluding separation costs and expenses
associated with AMEX Assurance, were $1.6 billion, up 13 percent from a year ago.
Compensation and benefits – field increased 31 percent to $408 million and includes a significant
impact related to AMEX Assurance of $35 million. Adjusted for AMEX Assurance, compensation
and benefits – field increased 20 percent due to higher sales and related commissions.
Compensation and benefits – non-field increased 19 percent to $295 million due to increased
management incentives, higher benefit costs and merit adjustments. Increased management
incentives were largely due to strong hedge fund performance at Threadneedle. The impact of
changes attributable to AMEX Assurance was immaterial.
Interest credited to account values increased 11 percent to $337 million due to higher interest
crediting rates and volume growth on investment certificates products.
Benefits, claims, losses and settlements declined 8 percent to $190 million, reflecting a $60
million decline from the impact of ceding of AMEX Assurance reserves, which was offset by
increases driven by higher life and health in-force levels and higher average home and auto
insurance policies in force. On an adjusted basis, benefits, claims, losses and settlements
increased 22 percent to $241 million.
Amortization of DAC declined 55 percent to $49 million primarily as a result of a $67 million
pretax benefit resulting from the annual DAC assessment. This compared to a $24 million pretax
DAC amortization benefit in the third quarter 2004. On an adjusted basis, amortization of DAC
declined 51 percent to $49 million.
As disclosed in prior periods, Ameriprise annually performs a comprehensive review in the third
quarter of each year and updates various DAC assumptions, such as persistency, mortality rate,
interest margin and maintenance expense level assumptions. The impact on results from
operations of changing assumptions with respect to the amortization of DAC can be either
positive or negative in any particular period. As a result of these reviews, Ameriprise took actions
in 2005 and 2004 that impacted the DAC balances and expenses.
In the third quarter of 2005, this comprehensive review resulted in a net $67 million DAC
amortization expense reduction. Protection segment DAC amortization expense was reduced by
4
5. $53 million and Asset Accumulation and Income segment DAC amortization expense was
reduced by $14 million. These actions primarily reflected:
a $32 million DAC amortization reduction reflecting changes in previously assumed
mortality rates; and
a $33 million DAC amortization reduction reflecting lower than previously assumed
surrender rates and higher associated surrender charges.
Interest and debt expense increased 27 percent to $16 million reflecting higher short-term
interest rates.
Other expense increased 16 percent to $305 million including the previously mentioned $70
million pretax charge related to the settlement of a class action lawsuit. Adjusted for the impact of
AMEX Assurance, other expense increased 20 percent to $304 million in the third quarter 2005.
Separation costs incurred during the quarter of $92 million pretax ($59 million after-tax) were
primarily related to advisor retention program costs, technology costs and costs associated with
establishing the Ameriprise Financial brand. To date we have incurred $168 million pretax ($109
million after-tax) of the separation costs.
Asset Accumulation and Income
Income Statements
(Dollars in millions, unaudited)
Three Months Ended Nine Months Ended
September 30, Percent September 30, Percent
2005 2004 Inc/(Dec) 2005 2004 Inc/(Dec)
Revenues
Management, financial advice and service fees $ 611 $ 486 26% $ 1,703 $ 1,454 17%
Distribution fees 207 176 17% 612 586 4%
Net investment income 479 450 7% 1,428 1,364 5%
Other revenues 8 16 (45)% 43 29 52%
Total revenues 1,305 1,128 16% 3,786 3,433 10%
Expenses
Compensation and benefits - field 252 221 14% 733 657 12%
Interest credited to account values 299 261 15% 874 822 6%
Benefits, claims, losses and settlement expenses 3 16 (82)% 24 36 (34)%
Amortization of deferred acquisition costs 68 79 (16)% 257 223 14%
Interest and debt expense 12 10 18% 30 21 38%
Other expense 505 384 32% 1,384 1,139 22%
Total expenses 1,139 971 17% 3,302 2,898 14%
Income from continuing operations before income
tax provision and accounting change $ 166 $ 157 7% $ 484 $ 535 (9)%
Asset Accumulation and Income Segment – Third Quarter 2005 Results
Income from continuing operations before income tax provision and accounting change was $166 million
for the third quarter, up 7 percent from $157 million a year ago. The Asset Accumulation and Income
segment was not impacted by the results of AMEX Assurance.
Pretax return on allocated equity for continuing operations was 17.6 percent at September 30, 2005,
down 70 basis points from full year 2004.
Total revenues of $1.3 billion rose 16 percent from $1.1 billion in the year ago quarter.
5
6. Management, financial advice and service fees grew 26 percent to $611 million, driven by net
inflows into our wrap accounts, separate account assets and Threadneedle mutual funds, as well
as market appreciation.
Distribution fees grew 17 percent to $207 million, on an increase in fees from retail brokerage
activity driven by stronger sales.
Net investment income grew 7 percent to $479 million, driven by higher average invested assets,
offset by net realized investment losses of $8 million. The average yield on invested assets was
the same in both periods.
Total expenses of $1.1 billion rose 17 percent from $971 million in the year ago quarter.
Compensation and benefits – field rose 14 percent to $252 million reflecting higher commissions
paid driven by stronger sales activity.
Interest credited to account values increased 15 percent to $299 million due to higher interest
crediting rates and volume growth on investment certificate products.
Benefits, claims, losses and settlements declined 82 percent, reflecting a decline of $12 million in
the liability for future benefits under Guaranteed Minimum Withdrawal Benefit rider contracts.
Amortization of DAC declined 16 percent to $68 million, including a $14 million pretax benefit
resulting from the annual DAC assessment. This compared to an $8 million pretax DAC
amortization benefit in the third quarter 2004.
Other operating expenses increased 32 percent to $505 million on higher non-field compensation
and benefits attributable to this segment, as well as the $70 million expense related to the
settlement of the class action lawsuit.
Asset management product revenues increased 12 percent compared to the year ago quarter, driven by
increases in managed assets. At September 30, 2005, managed assets grew 9 percent as compared to
September 30, 2004, reflecting market appreciation, which was partially offset by net outflows. In retail
managed assets, we continued to experience negative flows in RiverSource mutual funds, offset by
positive flows in Threadneedle mutual funds and wrap accounts. Institutional managed assets
experienced negative flows primarily driven by our previously announced closing of several hedge funds
and the San Diego office.
Variable annuity product revenues grew 11 percent compared to the year ago quarter, driven primarily by
strong new flows. Variable annuity assets accounted for in owned assets continued to show strong
increases with net flows of $826 million in the quarter ended September 30, 2005.
Fixed annuity product revenues grew 2 percent compared to the year ago quarter, primarily as a result of
realized gains and mark-to-market benefits on hedges.
Certificate product revenues rose 15 percent compared to the year ago quarter, due to increases in
account values. Certificate revenues exclude AEIDC, which are now reported in discontinued operations.
Banking, brokerage and other product revenues increased 44 percent compared to the year ago quarter,
due to strong sales and growth in the SPS wrap product, as well as higher financial advice and service
fees.
6
7. Protection
Income Statements
Includes AMEX Assurance
(Dollars in millions, unaudited)
Three Months Ended Nine Months Ended
September 30, Percent September 30, Percent
2005 2004 Inc/(Dec) 2005 2004 Inc/(Dec)
Revenues
Management, financial advice and service fees $ 17 $ 17 (1)% $ 46 $ 39 16%
Distribution fees 27 25 4% 80 78 1%
Net investment income 90 82 9% 256 234 10%
Premiums 217 262 (17)% 766 759 1%
Other revenues 109 103 6% 333 318 5%
Total revenues 460 489 (6)% 1,481 1,428 4%
Expenses
Compensation and benefits - field 57 23 # 102 66 55%
Interest credited to account values 38 42 (11)% 102 104 (3)%
Benefits, claims, losses and settlement expenses 187 190 (1)% 622 570 9%
Amortization of deferred acquisition costs (20) 29 # 61 89 (31)%
Interest and debt expense 9 5 75% 19 12 62%
Other expense 53 66 (21)% 211 199 6%
Total expenses 324 355 (9)% 1,117 1,040 8%
Income from continuing operations before income
tax provision and accounting change $ 136 $ 134 0% $ 364 $ 388 (7)%
# Variance of 100% or greater.
Protection Segment – Third Quarter 2005 Results
Income from continuing operations before income tax provision and accounting change was $136 million
for the third quarter, compared to $134 million a year ago. Adjusted segment earnings increased 41
percent, from $94 million in the 2004 quarter to $133 million in 2005.
Pretax return on allocated equity for continuing operations was 23.5 percent at September 30, 2005,
down 180 basis points from full year 2004. These returns include AMEX Assurance.
Total revenues of $460 million decreased 6 percent from $489 million in the year ago quarter. AMEX
Assurance revenues of $67 million were included in the year ago quarter but were reduced to $(12)
million in the third quarter of 2005 due to the reinsurance agreement with American Express. Adjusted
segment revenues increased 12 percent to $472 million.
Net investment income increased 9 percent to $90 million. The impact of AMEX Assurance was
immaterial.
Premiums declined 17 percent to $217 million, primarily reflecting the impact of AMEX
Assurance. Adjusted segment premiums increased 16 percent to $232 million, driven by solid
growth in premiums from home and auto.
Other revenues rose 6 percent to $109 million due to higher insurance in-force levels. Adjusted
segment other revenues rose 8 percent to $110 million.
Total expenses of $324 million decreased 9 percent from $355 million in the year ago quarter, primarily
due to the ceding of AMEX Assurance losses to American Express. Adjusted segment expenses
increased 3 percent to $339 million.
Compensation and benefits – field increased by $34 million, reflecting a $34 million impact
related to the AMEX Assurance reinsurance transaction.
7
8. Interest credited to account values decreased 11 percent to $38 million.
Benefits, claims, losses and settlements declined 1 percent to $187 million as higher life and
health in-force levels and higher average home and auto insurance policies in force were offset
by a decline of $60 million related to the AMEX Assurance business ceded to American Express.
Adjusted segment benefits, claims, losses and settlements increased 32 percent to $238 million
due to a $13 million increase in the expense for future policy benefits in third quarter 2005
related to the inclusion of an explicit maintenance reserve for long term care insurance in
Protection products. The increase is also driven by an increase in the face amount of life
insurance policies outstanding.
Amortization of DAC resulted in income of $20 million in third quarter 2005 compared to an
expense of $29 million in third quarter 2004. Adjusted segment amortization of DAC results in
income of $20 million in the third quarter 2005 compared to an expense of $21 million in the third
quarter of 2004. The impact of the annual DAC assessment for third quarter 2005 was a
favorable adjustment of $53 million for 2005 compared to a favorable adjustment of $16 million in
2004.
Interest and debt expense increased 75 percent to $9 million due primarily to higher short-term
interest rates.
Variable universal life and universal life product revenues increased 4 percent compared to the year ago
quarter, driven by variable universal life sales. Term and whole life revenues declined 5 percent
compared to the year ago quarter, based on flat sales and increased lapses. Home and auto revenues
increased 25 percent compared to the year ago quarter, driven by increased policy counts. Disability
income and other product revenues are down 35 percent compared to the year ago quarter, due to the
impact of ceding premiums related to AMEX Assurance.
8
9. Corporate and Other and Eliminations
Statements of Operations
Includes the impact of Separation Costs
(Dollars in millions, unaudited)
Three Months Ended Nine Months Ended
September 30, Percent September 30, Percent
2005 2004 Inc/(Dec) 2005 2004 Inc/(Dec)
Revenues
Management, financial advice and service fees $ 59 $ 47 27% $ 178 $ 149 21%
Distribution fees 62 47 34% 181 170 7%
Net investment income (8) (12) (26)% (17) (32) (47)%
Premiums (15) - # (15) - #
Other revenues 10 13 (26)% 21 36 (46)%
Total revenues 108 95 14% 348 323 8%
Expenses
Compensation and benefits - field 99 67 49% 306 269 14%
Interest credited to account values - (1) # - - -
Benefits, claims and settlement expenses - (1) # - (1) #
Amortization of deferred acquisition costs 1 - # 1 - #
Interest and debt expense (5) (2) 89% 3 4 (6)%
Other expense 42 62 (30)% 100 122 (19)%
Total expenses 137 125 11% 410 394 4%
Income/(loss) from continuing operations before income
tax provision, separation costs and accounting change (29) (30) 0% (62) (71) (14)%
Separation costs, pretax 92 - # 168 - #
Income/(loss) from continuing operations before income
tax provision and accounting change $ (121) $ (30) # $ (230) $ (71) #
# Variance of 100% or greater.
Corporate and Other and Eliminations Segment – Third Quarter 2005 Results
Loss from continuing operations before income tax provision and accounting change was $121 million for
the third quarter, compared to $30 million a year ago. The Corporate and Other and Eliminations segment
was not impacted by the results of AMEX Assurance. The year-over-year change was predominantly due
to the inclusion of $92 million of non-recurring separation costs.
Total revenues of $108 million increased 14 percent from $95 million in the year ago quarter.
Management, financial advice and service fees grew 27 percent to $59 million, due to growth in
assets managed and advice fees at Securities America Financial Corporation (SAI), which
operates its own separately branded distribution network.
Distribution fees grew 34 percent to $62 million as a result of greater activity at SAI.
Net investment income was a loss of $8 million compared to a loss of $12 million in the year ago
quarter. These losses are primarily the result of amortization of low income housing investments.
Other revenues decreased from $13 million to $10 million.
Total expenses of $229 million increased from $125 million in the year ago quarter primarily due to the
inclusion of $92 million of non-recurring separation costs.
Compensation and benefits – field rose 49 percent to $99 million reflecting higher commissions
paid at SAI.
9
10. Balance Sheet and Capital
Shareholders’ equity was $7.8 billion up 17 percent from year-end 2004. The change reflects the capital
contribution from American Express of $1.1 billion, a decline in other comprehensive income of $400
million, primarily driven by interest rate increases. Book value per share was $31.83. The debt/capital
ratio declined from 19.7 percent at December 31, 2004 to 15.2 percent at September 30, 2005.
The company maintains substantial liquidity, with $2.6 billion in cash and cash equivalents at
September 30, 2005. The company’s investment portfolio quality remains high, with 49 percent of
available for sale bonds rated double-A or higher and below investment grade bonds at 7 percent.
Reserve coverage of non-performing assets increased to 8.8 times at September 30, 2005 from
6.6 times at June 30, 2005.
The company has filed a registration statement on Form S-3 with the SEC in anticipation of issuing
long-term senior debt of approximately $1.5 billion to replace the existing bridge loan, which was
drawn on September 28, 2005 to repay American Express for inter-company loans, and for other
corporate purposes.
The registration statement relating to the long-term senior debt securities has been filed with the SEC but
has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in
which such offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of any such State.
Settlement of Class Action Lawsuit
Ameriprise Financial has reached a comprehensive settlement regarding the consolidated securities class
action lawsuit filed against the company, its former parent and affiliates in October 2004 called, “In re
American Express Financial Advisors Securities Litigation.” The settlement, under which the company
denies any liability, includes a one-time payment of $100 million to the class members. The settlement is
subject to court approval.
The class members include individuals who purchased mutual funds in the company’s Preferred Provider
Program, Select Group Program, or any similar revenue sharing program; purchased mutual funds sold
under the American Express® or AXP® brand; or purchased for a fee financial plans or advice from the
company between March 10, 1999 and through the date on which a formal stipulation of settlement is
signed.
The company’s litigation reserve is sufficient to cover the contingent liability for the settlement. The
reserve for this litigation was increased by $70 million pretax, $46 million after-tax, at September 30, 2005
from the reserve at June 30, 2005. The impact of this reserve increase is reflected as an expense on the
company’s statement of operations for the quarter ended September 30, 2005.
While the company denies the allegations in this lawsuit, the company made the determination to settle
this litigation and obtain the broad release from these claims so that it can move forward as a newly
independent company unencumbered by the distraction, expense and uncertainty that accompanies such
litigation. The company believes doing so is in the best interests of the company, its shareholders and its
clients.
Definitions
Allocated equity – the internal allocation of consolidated shareholders’ equity, excluding
accumulated other comprehensive income, to the company’s operating segments for purposes of
measuring segment return on allocated equity. Allocated equity does not reflect insurance
10
11. company risk-based capital or other regulatory capital requirements applicable to the company and
certain of its subsidiaries.
AMEX Assurance – is a legal entity owned by IDS Property Casualty Company that offers travel
and other card insurance to American Express customers. This business has historically been
reported in the TRS segment of American Express’s GAAP financial statements. Under the
separation agreement, 100 percent of this business will be ceded to an American Express
subsidiary in return for an arm’s length ceding fee. Ameriprise Financial expects to sell the legal
entity of AMEX Assurance to American Express within two years after separation for a fixed price
equal to the net book value of AMEX Assurance as of the separation date. See the company’s
Form 10 filed with the SEC.
Gross Dealer Concession – internal measure, commonly used in the financial services industry, of
the sales production of the advisor channel excluding SAI.
Mass Affluent Clients – individuals with $100,000 to $1 million in investable assets. The company
tracks clients with $100,000 or more in assets with the company as a proxy for Mass Affluent
Clients acquired.
Total clients – the sum of all individual, business and institutional clients.
11
12. Reconciliation table: Protection Segment Income Statements to Adjusted
Reported Income for AMEX Assurance Pro forma Income for
Quarters Ended Quarters Ended Quarters Ended
Percent
September 30, September 30, September 30,
2005 2004 2005 2004 2005 2004 Inc(Dec)
(Dollars in millions, unaudited)
Revenues
Management, financial advice and service
fees $17 $17 $1 $1 $16 $16 (1)%
Distribution fees 27 25 - - 27 25 4%
Net investment income 90 82 3 3 87 79 9%
Premiums 217 262 (15) 62 232 200 16%
Other revenues 109 103 (1) 1 110 102 8%
Total revenues 460 489 (12) 67 472 422 12%
Expenses
Compensation and benefits - field 57 23 35 1 22 22 (2)%
Interest credited to account values 38 42 - - 38 42 (11)%
Benefits, claims, losses and settlement
expenses 187 190 (51) 9 238 181 32%
Amortization of deferred acquisition costs (20) 29 - 8 (20) 21 #
Interest and debt expense 9 5 - - 9 5 75%
Other expense 53 66 1 9 52 57 (10)%
Total expenses 324 355 (15) 27 339 328 3%
Income from continuing operations before
income tax provision, separation costs and
accounting change $136 $134 $3 $40 $133 $94 41%
# Variance of 100% or greater.
12
13. Reconciliation table: Reported Consolidated Income Statements to Adjusted
Reported Income for AMEX Assurance Pro forma Income for
Quarters Ended Quarters Ended Quarters Ended
September 30, September 30, September 30, Percent
2005 2004 2005 2004 2005 2004 Inc(Dec)
(Dollars in millions, unaudited)
Revenues
Management, financial advice and service
fees $687 $550 $1 $1 $686 $549 25%
Distribution fees 296 248 - - 296 248 19%
Net investment income 561 520 3 3 558 517 8%
Premiums 202 262 (15) 62 217 200 9%
Other revenues 127 132 (1) 1 128 131 (1)%
Total revenues 1,873 1,712 (12) 67 1,885 1,645 15%
Expenses
Compensation and benefits - field
Field 408 311 35 1 373 310 20%
Non-field 295 249 - - 295 249 19%
Total compensation and benefits 703 560 35 1 668 559 20%
Interest credited to account values 337 302 - - 337 302 11%
Benefits, claims, losses and settlement
expenses 190 205 (51) 9 241 196 22%
Amortization of deferred acquisition costs 49 108 - 8 49 100 (51)%
Interest and debt expense 16 13 - - 16 13 27%
Other expense 305 263 1 9 304 254 20%
Total expenses 1,600 1,451 (15) 27 1,615 1,424 13%
Income from continuing operations before
income tax provision, separation costs and
accounting change 273 261 3 40 270 221 22%
Income tax provision 91 73 - 13 91 60 53%
Income from continuing operations before
separation costs and accounting change 182 188 3 27 179 161 11%
Separation costs, after-tax 59 - - - 59 - #
Income from continuing operations before
accounting change 123 188 3 27 120 161 (26)%
Discontinued operations 2 11 - - 2 11 (87)%
Cumulative effect of accounting change, net
of tax - - - - - - #
Net income $125 $199 $3 $27 $122 $172 (30)%
# Variance of 100% or greater.
13
14. Reconciliation table: Selected Adjusted Consolidated Income Data to GAAP
(Dollars in millions, unaudited)
Three Months Ended
September 30, 2005
Presented
before
separation Difference
cost impacts Attributable to
in Reported Separation GAAP
Financials Costs Equivalent
Line item in Reported non-GAAP presentation GAAP Equivalent
Total revenues (GAAP measure) $1,873 $1,873 Total revenues
Total expenses before separation costs 1,600 $92 1,692 Total expenses
Income from continuing operations
Income from continuing operations before income tax before income tax provision and
provision, separation costs and accounting change 181 accounting change
273 (92)
Income tax provision before tax benefit attributable to
separation costs* 58 Income tax provision
91 (33)
Income from continuing operations before separation
costs and accounting change 182
Separation costs, after-tax* 59
Income from continuing operations before accounting Income from continuing operations
change (GAAP measure) $123 before accounting change
$123
Nine Months Ended
September 30, 2005
Presented
before
Difference
separation
Attributable to
cost impacts
Separation GAAP
in Reported
Costs Equivalent
Financials GAAP Equivalent
Line item in Reported non-GAAP presentation
Total revenues (GAAP measure) $5,615 $5,615 Total revenues
Total expenses before separation costs 4,829 $168 4,997 Total expenses
Income from continuing operations
Income from continuing operations before income tax before income tax provision and
provision, separation costs and accounting change 618 accounting change
786 (168)
Income tax provision before tax benefit attributable to
separation costs* 171 Income tax provision
230 (59)
Income from continuing operations before separation
costs and accounting change 556
Separation costs, after-tax* 109
Income from continuing operations before accounting Income from continuing operations
change (GAAP measure) $447 before accounting change
$447
*Assumes 35% statutory tax rate on separation costs.
14
15. Ameriprise Financial
Ameriprise Financial is one of the nation's leading financial planning, asset management and
insurance companies. Through its nationwide network of more than 10,000 financial advisors,
Ameriprise Financial delivers solutions to clients through a comprehensive and personalized
financial planning approach built on a long-term relationship with a knowledgeable advisor. The
company specializes in meeting the retirement-related financial needs of the mass affluent. For
more information, visit www.ameriprise.com.
Financial advisory services and investments available through Ameriprise Financial Services, Inc.
Member NASD and SIPC. RiverSource insurance and annuities issued by IDS Life Insurance
Company, and in New York only, IDS Life Insurance Company of New York, Albany, New York.
These companies are part of Ameriprise Financial, Inc.
Investments are not insured by the FDIC, are not deposits or obligations of or guaranteed by a financial
institution, and involve investment risks, including possible loss of principal and may fluctuate in value.
You should consider the investment objectives, risks, charges and expenses of annuities and
mutual funds carefully before investing. For a copy of a mutual fund or annuity prospectus, which
contains this and other information, call (800) 297-FUND, TTY: (800) 846-4852. Read the
prospectus carefully before you invest.
Contacts:
Investor Relations: Media Relations:
Laura Gagnon David Kanihan
Ameriprise Financial Ameriprise Financial
612-671-2080 612-678-4925
laura.c.gagnon@ampf.com david.e.kanihan@ampf.com
Mary Baranowski Paul Johnson
Ameriprise Financial Ameriprise Financial
212-640-5174 612-671-0625
mary.baranowski@ampf.com paul.w.johnson@ampf.com
###
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