Ameriprise 2006 Annual Report Download - page 106

Consolidated Five-Year Summary of Selected Financial Data
The following table sets forth selected consolidated financial information from our audited Consolidated Financial Statements as of
December 31, 2006, 2005, 2004 and 2003 and for the five-year period ended December 31, 2006, and unaudited consolidated
financial statements as of December 31, 2002. For the periods preceding our separation from American Express Company
(“American Express”), we prepared our Consolidated Financial Statements as if we had been a stand-alone company. In the
preparation of our Consolidated Financial Statements for those periods, we made certain allocations of expenses that our manage-
ment believed to be a reasonable reflection of costs we would have otherwise incurred as a stand-alone company but were paid by
American Express. Accordingly, our Consolidated Financial Statements include various adjustments to amounts in our consolidated
financial statements as a subsidiary of American Express. The selected financial data presented below should be read in
conjunction with our Consolidated Financial Statements and the accompanying notes included elsewhere in this report and
“Management’s Discussion and Analysis.”
Years Ended December 31,
2006(1)(4) 2005(1)(4) 2004(2)(4) 2003(3)(4) 2002(4)
(in millions)
Income Statement Data:
Revenues $ 8,140 $ 7,484 $ 7,027 $ 6,155 $ 5,575
Expenses 7,343 6,739 5,915 5,282 4,714
Income before discontinued operations
and accounting change 631 558 825 694 632
Net income 631 574 794 725 674
Cash Dividends:
Shareholders 108 27 — — —
American Express —53 1,325 334 377
December 31,
2006(4) 2005(4) 2004(2)(4) 2003(3)(4) 2002(5)
(in millions)
Balance Sheet Data:
Investments $ 35,553 $ 39,100 $ 40,232 $ 38,534 $ 34,683
Separate account assets 53,848 41,561 35,901 30,809 21,981
Total assets(6) 104,172 93,121 93,113 85,384 74,448
Future policy benefits and claims 30,033 32,731 33,253 32,235 28,959
Separate account liabilities 53,848 41,561 35,901 30,809 21,981
Customer deposits 6,525 6,641 6,849 5,898 5,509
Debt 2,225 1,833 385 445 120
Payable to American Express 94 52 1,751 1,447 1,261
Total liabilities(7) 96,247 85,434 86,411 78,096 67,998
Shareholders’ equity 7,925 7,687 6,702 7,288 6,450
(1) During 2006 and 2005, we recorded non-recurring separation costs as a result of our separation from American Express. During the year ended
December 31, 2006 and 2005, $361 million ($235 million after-tax) and $293 million ($191 million after-tax), respectively, of such costs were incurred.
These costs were primarily associated with establishing the Ameriprise Financial brand, separating and reestablishing our technology platforms and
advisor and employee retention programs.
(2) Effective January 1, 2004, we adopted American Institute of Certified Public Accountants Statement of Position 03-1, “Accounting and Reporting by
Insurance Enterprises for Certain Nontraditional Long-Duration Contracts and for Separate Accounts,” which resulted in a cumulative effect of
accounting change that reduced first quarter 2004 results by $71 million, net of tax.
(3) The consolidation of variable interest entities in December 2003 resulted in a cumulative effect of accounting change that reduced 2003 net income
through a non-cash charge of $13 million, net of tax.
(4) Derived from our audited Consolidated Financial Statements.
(5) Derived from unaudited consolidated financial statements.
(6) Total assets as of December 31, 2004, 2003 and 2002 include assets of discontinued operations of $5,873 million, $4,807 million and $4,829 million,
respectively.
(7) Total liabilities as of December 31, 2004, 2003 and 2002 include liabilities of discontinued operations of $5,631 million, $4,579 million and
$4,575 million, respectively.
104 Ameriprise Financial, Inc. 2006 Annual Report