Ameriprise 2007 Annual Report Download - page 61

Download and view the complete annual report

Please find page 61 of the 2007 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 Cash Flows
Ameriprise Financial, Inc.
Years Ended December 31,
2007 2006 2005
(in millions)
Cash Flows from Operating Activities
Net income $ 814 $ 631 $ 574
Less: Income from discontinued operations, net of tax —— (16)
Income from continuing operations 814 631 558
Adjustments to reconcile income from continuing operations to net cash provided by
operating activities:
Capitalization of deferred acquisition and sales inducement costs (895) (870) (787)
Amortization of deferred acquisition and sales inducement costs 604 520 471
Depreciation and amortization 176 148 169
Deferred income taxes 25 24 34
Share-based compensation 143 113 55
Net realized investment gains (49) (52) (74)
Other-than-temporary impairments and provision for loan losses (17) 222
Premium and discount amortization on Available-for-Sale and other securities 109 124 156
Changes in operating assets and liabilities:
Segregated cash 63 (54) (73)
Trading securities and equity method investments in hedge funds, net 19 150 179
Future policy benefits and claims, net 246 96 68
Receivables (183) (246) (83)
Brokerage deposits (76) (14) (9)
Accounts payable and accrued expenses (12) 112 21
Other, net (122) 133 149
Net cash provided by operating activities 845 817 856
Cash Flows from Investing Activities
Available-for-Sale securities:
Proceeds from sales 3,652 2,454 4,336
Maturities, sinking fund payments and calls 2,887 3,434 4,060
Purchases (1,704) (2,782) (8,685)
Open securities transactions payable and receivable, net 84 15 (26)
Proceeds from sales and maturities of commercial mortgage loans 492 512 590
Funding of commercial mortgage loans (510) (422) (486)
Proceeds from sale of AMEX Assurance 115 ——
Proceeds from sales of other investments 123 149 206
Purchase of other investments (157) (135) (168)
Purchase of land, buildings, equipment and software (306) (187) (141)
Proceeds from sale of land, buildings, equipment and other 35 66 —
Proceeds from transfer of AMEX Assurance deferred acquisition costs —— 117
Deconsolidation of AMEX Assurance —— (29)
Change in policy loans, net (47) (36) (17)
Change in restricted cash (153) (17) 543
Acquisition of bank deposits and loans, net —437 —
Cash transferred to American Express related to AEIDC —— (572)
Other, net (16) (4) (1)
Net cash provided by (used in) investing activities 4,495 3,484 (273)
See Notes to Consolidated Financial Statements.
Ameriprise Financial 2007 Annual Report 59