Ameriprise 2005 Annual Report Download - page 74

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72 |Ameriprise Financial, Inc.
The following table provides information about Available-for-Sale securities with gross unrealized losses and the length of time that
individual securities have been in a continuous unrealized loss position as of December 31, 2005:
Less than 12 months 12 months or more Total
Fair Unrealized Fair Unrealized Fair Unrealized
Description of Securities Value Losses Value Losses Value Losses
(in millions)
Corporate debt securities $ 8,445 $(187) $2,771 $(113) $11,216 $(300)
Mortgage and other asset-backed securities 7,886 (114) 2,875 (97) 10,761 (211)
Structured investments 10 – – – 10 –
State and municipal obligations 172 (4) 24 (1) 196 (5)
U.S. government and agencies obligations 193 (4) 97 (3) 290 (7)
Foreign government bonds and obligations 13 – – – 13 –
Common and preferred stocks – – 5 – 5 –
Total $16,719 $(309) $5,772 $(214) $22,491 $(523)
The following table provides information about Available-for-Sale securities with gross unrealized losses and the length of time that
individual securities have been in a continuous unrealized loss position as of December 31, 2004:
Less than 12 months 12 months or more Total
Fair Unrealized Fair Unrealized Fair Unrealized
Description of Securities Value Losses Value Losses Value Losses
(in millions)
Corporate debt securities $ 3,956 $ (38) $1,171 $ (30) $ 5,127 $ (68)
Mortgage and other asset-backed securities 4,004 (30) 732 (18) 4,736 (48)
Structured investments – – 705 (41) 705 (41)
State and municipal obligations 50 – 75 (3) 125 (3)
U.S. government and agencies obligations 207 (1) 2 – 209 (1)
Foreign government bonds and obligations 1 – 9 (1) 10 (1)
Total $ 8,218 $ (69) $2,694 $ (93) $10,912 $(162)
In evaluating potential other-than-temporary impairments, the Company considers the extent to which amortized cost exceeds fair
value and the duration of that difference. A key metric in performing this evaluation is the ratio of fair value to amortized cost. The
following table summarizes the unrealized losses by ratio of fair value to amortized cost as of December 31, 2005:
Less than 12 months 12 months or more Total
Number Gross Number Gross Number Gross
Ratio of Fair Value of Fair Unrealized of Fair Unrealized of Fair Unrealized
to Amortized Cost Securities Value Losses Securities Value Losses Securities Value Losses
(in millions, except number of securities)
95%–100% 973 $16,221 $(269) 357 $5,309 $(181) 1,330 $21,530 $(450)
90%–95% 47 391 (25) 34 439 (29) 81 830 (54)
80%–90% 12 104 (14) 6 24 (4) 18 128 (18)
Less than 80% 3 3 (1) – – – 3 3 (1)
Total 1,035 $16,719 $(309) 397 $5,772 $(214) 1,432 $22,491 $(523)