Ameriprise 2006 Annual Report Download - page 62

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Consolidated Statements of Cash Flows
Ameriprise Financial, Inc.
Years Ended December 31,
2006 2005 2004
(in millions)
Cash Flows from Operating Activities
Net income $ 631 $ 574 $ 794
Less: Income from discontinued operations, net of tax —(16) (40)
Income before discontinued operations 631 558 754
Adjustments to reconcile income before discontinued operations to net cash
provided by operating activities:
Cumulative effect of accounting change, net of tax ——71
Capitalization of deferred acquisition and sales inducement costs (870) (787) (692)
Amortization of deferred acquisition and sales inducement costs 520 471 471
Depreciation and amortization 166 164 161
Deferred income taxes 24 34 (34)
Share-based compensation 113 55 38
Excess tax benefits from share-based compensation (52) ——
Net realized investment gains (52) (74) (45)
Other-than-temporary impairments and provision for loan losses 222 13
Premium and discount amortization on Available-for-Sale and other securities 124 156 178
Changes in operating assets and liabilities:
Segregated cash (54) (73) 105
Trading securities and equity method investments in hedge funds, net 119 179 (61)
Future policy benefits and claims, net 53 21 5
Receivables (203) (70) (325)
Other assets, other liabilities, accounts payable and accrued expenses, net 98 319 173
Net cash provided by operating activities 619 975 812
Cash Flows from Investing Activities
Available-for-Sale securities:
Proceeds from sales 2,454 4,336 2,034
Maturities, sinking fund payments and calls 3,434 4,060 3,199
Purchases (2,782) (8,685) (7,300)
Open securities transactions payable and receivable, net 15 (26) 35
Proceeds from sales and maturities of commercial mortgage loans on real estate 512 590 581
Funding of commercial mortgage loans on real estate (422) (486) (326)
Proceeds from sales of other investments 149 206 268
Purchase of other investments (135) (168) (222)
Purchase of land, buildings, equipment and software (187) (141) (125)
Proceeds from sale of land, buildings, equipment and other 66 —3
Proceeds from transfer of AMEX Assurance deferred acquisition costs —117 —
Deconsolidation of AMEX Assurance —(29) —
Change in restricted cash (16) 542 300
Acquisition of bank deposits and loans, net 437 ——
Cash transferred to American Express related to AEIDC —(572) —
Other, net (2) 13
Net cash provided by (used in) investing activities 3,523 (255) (1,550)
See Notes to Consolidated Financial Statements.
60 Ameriprise Financial, Inc. 2006 Annual Report