Ameriprise 2005 Annual Report Download - page 60

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Consolidated Statements of Cash Flows
Ameriprise Financial, Inc.
Years Ended December 31, 2005 2004 2003
(in millions)
Cash Flows from Operating Activities
Net income $ 574 $ 794 $ 725
Less: Income from discontinued operations, net of tax (16) (40) (44)
Income before discontinued operations 558 754 681
Adjustments to reconcile income before discontinued operations to net cash
provided by (used in) operating activities:
Cumulative effect of accounting change, net of tax –71 13
Amortization of deferred acquisition and sales inducement costs 471 471 504
Capitalization of deferred acquisition and sales inducement costs (787) (692) (699)
Depreciation, amortization, accretion and other 295 289 236
Other-than-temporary impairments and provision for loan losses 22 13 172
Deferred income taxes 34 (34) 11
Net realized investment gains (74) (45) (165)
Changes in operating assets and liabilities:
Segregated cash (73) 105 (43)
Trading securities and equity method investments in hedge funds, net 205 (11) (385)
Future policy benefits and claims, net 21 514
Receivables (70) (328) (249)
Other assets, other liabilities, accounts payable and accrued expenses, net 343 85 (460)
Net cash provided by (used in) operating activities 945 683 (370)
Cash Flows from Investing Activities
Available-for-Sale securities:
Proceeds from sales 4,336 2,034 13,673
Maturities, sinking fund payments and calls 4,060 3,199 5,585
Purchases (8,685) (7,300) (23,626)
Open securities transactions payable and receivable, net (26) 35 (3,345)
Proceeds from sales and maturities of mortgage loans on real estate 590 581 582
Funding of mortgage loans on real estate (486) (326) (360)
Proceeds from sales of other investments 206 268 173
Purchase of other investments (168) (222) (234)
Purchase of land, buildings, equipment and software (141) (125) (133)
Proceeds from sale of land, buildings and equipment –4–
Proceeds from transfer of AMEX Assurance deferred acquisition costs 117 ––
Deconsolidation of AMEX Assurance (29) ––
Change in restricted cash 542 300 (3)
Acquisitions, net of cash acquired –– (482)
Cash transferred to American Express related to AEIDC (572) ––
Other, net 123
Net cash used in investing activities $ (255) $(1,550) $ (8,167)
See Notes to Consolidated Financial Statements.
58 |Ameriprise Financial, Inc.