Ameriprise 2006 Annual Report Download - page 60

Download and view the complete annual report

Please find page 60 of the 2006 Ameriprise annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 112

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112

Consolidated Statements of Income
Ameriprise Financial, Inc.
Years Ended December 31,
2006 2005 2004
(in millions, except per share amounts)
Revenues
Management, financial advice and service fees $ 2,965 $ 2,578 $ 2,248
Distribution fees 1,300 1,150 1,101
Net investment income 2,204 2,241 2,137
Premiums 932 979 1,023
Other revenues 739 536 518
Total revenues 8,140 7,484 7,027
Expenses
Compensation and benefits 3,113 2,650 2,288
Interest credited to account values 1,264 1,310 1,268
Benefits, claims, losses and settlement expenses 930 880 828
Amortization of deferred acquisition costs 472 431 437
Interest and debt expense 116 73 52
Separation costs 361 293 —
Other expenses 1,087 1,102 1,042
Total expenses 7,343 6,739 5,915
Income before income tax provision, discontinued operations and accounting change 797 745 1,112
Income tax provision 166 187 287
Income before discontinued operations and accounting change 631 558 825
Income from discontinued operations, net of tax —16 40
Cumulative effect of accounting change, net of tax —— (71)
Net income $ 631 $ 574 $ 794
Basic Earnings per Common Share
Income before discontinued operations and accounting change $ 2.56 $ 2.26 $ 3.35
Income from discontinued operations, net of tax —0.06 0.16
Cumulative effect of accounting change, net of tax —— (0.29)
Net income $ 2.56 $ 2.32 $ 3.22
Diluted Earnings per Common Share
Income before discontinued operations and accounting change $ 2.54 $ 2.26 $ 3.35
Income from discontinued operations, net of tax —0.06 0.16
Cumulative effect of accounting change, net of tax —— (0.29)
Net income $ 2.54 $ 2.32 $ 3.22
Weighted average common shares outstanding:
Basic 246.5 247.1 246.2
Diluted 248.5 247.2 246.2
Cash dividends declared per common share $ 0.44 $ 0.11 $ —
See Notes to Consolidated Financial Statements.
58 Ameriprise Financial, Inc. 2006 Annual Report