Ameriprise 2005 Annual Report Download - page 32

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Consolidated Results of Operations
The following table presents our consolidated results of operations for the periods indicated.
Years ended December 31, 2005 2004 2003
Amount % Change(a) Amount % Change(a) Amount
(in millions, except percentages)
Revenues
Management, financial advice and service fees $2,578 15 % $2,248 32 % $1,703
Distribution fees 1,150 4 1,101 9 1,015
Net investment income 2,241 5 2,137 3 2,069
Premiums 979 (4) 1,023 14 895
Other revenues 536 4 518 9 473
Total revenues 7,484 7 7,027 14 6,155
Expenses
Compensation and benefits
Field 1,515 14 1,332 25 1,067
Non-field 1,135 19 956 25 766
Total compensation and benefits 2,650 16 2,288 25 1,833
Interest credited to account values 1,310 3 1,268 (8) 1,384
Benefits, claims, losses and settlement expenses 880 6 828 12 740
Amortization of deferred acquisition costs 431 (1) 437 (9) 480
Interest and debt expense 73 40 52 15 45
Separation costs 293 ––––
Other expenses 1,102 6 1,042 30 800
Total expenses 6,739 14 5,915 12 5,282
Income before income tax provision, discontinued operations
and accounting change 745 (33) 1,112 27 873
Income tax provision 187 (35) 287 60 179
Income before discontinued operations and accounting change 558 (32) 825 19 694
Discontinued operations, net of tax 16 (60) 40 (10) 44
Cumulative effect of accounting change, net of tax –# (71) # (13)
Net income $ 574 (28) $ 794 10 $ 725
(a) Percentage change calculated using thousands.
# Variance of 100% or greater.
30 |Ameriprise Financial, Inc.