Ameriprise 2007 Annual Report Download - page 103

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Year Ended December 31, 2005
Advice &
Wealth Asset Corporate &
Management Management Annuities Protection Other Eliminations Consolidated
(in millions)
Revenue from external customers $2,111 $1,599 $2,116 $1,836 $ (26) $ — $7,636
Intersegment revenue 938 30 78 30 2 (1,078) —
Total revenues 3,049 1,629 2,194 1,866 (24) (1,078) 7,636
Banking and deposit interest expense 215 20 1 2 6 (4) 240
Net revenues 2,834 1,609 2,193 1,864 (30) (1,074) 7,396
Depreciation and amortization expense 75 141 293 120 11 — 640
All other expenses 2,741 1,291 1,410 1,250 393 (1,074) 6,011
Total expenses 2,816 1,432 1,703 1,370 404 (1,074) 6,651
Pretax income (loss) from continuing
operations $ 18 $ 177 $ 490 $ 494 $(434) $ — 745
Income tax provision 187
Income from continuing operations 558
Income from discontinued operations,
net of tax 16
Net income $ 574
27. Quarterly Financial Data (Unaudited)
2007 2006
12/31 9/30 6/30 3/31 12/31 9/30 6/30 3/31
(in millions, except per share data)
Net revenues(1) $2,319 $2,170 $2,138 $2,027 $2,139 $1,935 $2,024 $1,922
Separation costs(2) 28 60 63 85 123 87 84 67
Pretax income 338 217 245 216 203 217 186 191
Net income $ 255 $ 198 $ 196 $ 165 $ 171 $ 174 $ 141 $ 145
Earnings per basic common share $ 1.10 $ 0.84 $ 0.83 $ 0.69 $ 0.70 $ 0.71 $ 0.57 $ 0.57
Earnings per diluted common share $ 1.08 $ 0.83 $ 0.81 $ 0.68 $ 0.69 $ 0.71 $ 0.57 $ 0.57
Weighted average common shares outstanding:
Basic 231.4 235.4 237.4 240.7 243.3 244.5 246.3 252.3
Diluted 235.4 239.2 241.0 244.1 246.3 246.4 248.0 253.5
Cash dividends paid per common share $ 0.15 $ 0.15 $ 0.15 $ 0.11 $ 0.11 $ 0.11 $ 0.11 $ 0.11
Common share price:
High $69.25 $68.00 $67.45 $63.08 $55.79 $47.46 $50.08 $47.25
Low $53.23 $51.31 $56.96 $53.01 $46.85 $40.60 $40.49 $40.30
(1) Certain prior year amounts have been reclassified to conform to the current year’s presentation. See Note 1 for a description of the reclassifications. Revenues as previously
reported were $2,202 million, $2,182 million and $2,063 million for the quarters ended September 30, 2007, June 30, 2007 and March 31, 2007, respectively, and
$2,161 million, $1,977 million, $2,053 million and $1,949 million for the quarters ended December 31, 2006, September 30, 2006, June 30, 2006 and March 31, 2006,
respectively.
(2) The Company incurred separation costs beginning with the quarterly period ended March 31, 2005, when the American Express Board of Directors announced the
Separation. The Company continued to incur separation costs in subsequent quarterly periods which reflect the completion of the Distribution and the costs incurred by
the Company to establish itself as an independent company. As of December 31, 2007, all separation costs have been incurred.
Ameriprise Financial 2007 Annual Report 101