Ameriprise 2007 Annual Report Download - page 65

The following tables show the impact of the new captions and the reclassifications made to the Company’s previously reported Consolidated
Statements of Income.
Year Ended December 31, 2006 Year Ended December 31, 2005
Previously Previously
Reported Reclassified Reported Reclassified
(in millions) (in millions)
Revenues
Management and financial advice fees $2,965 $2,700 $2,578 $2,334
Distribution fees 1,300 1,569 1,150 1,401
Net investment income 2,204 2,247 2,241 2,272
Premiums 932 1,070 979 1,129
Other revenues 739 707 536 500
Total revenues 8,140 8,293 7,484 7,636
Banking and deposit interest expense — 273 — 240
Total net revenues 8,140 8,020 7,484 7,396
Expenses
Compensation and benefits 3,113 — 2,650 —
Distribution expenses — 1,728 — 1,465
Interest credited to fixed accounts 1,264 968 1,310 1,019
Benefits, claims, losses and settlement expenses 930 1,113 880 1,083
Amortization of deferred acquisition costs 472 472 431 431
Interest and debt expense 116 101 73 67
Separation costs 361 361 293 293
Other expenses 1,087 — 1,102 —
General and administrative expense — 2,480 — 2,293
Total expenses 7,343 7,223 6,739 6,651
Pretax income from continuing operations 797 797 745 745
Income tax provision 166 166 187 187
Income from continuing operations 631 631 558 558
Income from discontinued operations, net of tax — — 16 16
Net income $ 631 $ 631 $ 574 $ 574
Balance Sheet Reclassifications
The Company reclassified Threadneedle’s short-term investments in money market funds from investments to cash and cash equivalents and to
restricted and segregated cash. The Company also reclassified securities loaned from receivables to other liabilities. The Company reclassified a
debit balance in other liabilities related to federal income taxes to other assets and reclassified various liabilities from accounts payable and
accrued expenses to other liabilities based on the nature of the liability and the timing of its settlement.
The following table shows the impact of the reclassifications made to the Company’s previously reported Consolidated Balance Sheet.
December 31, 2006
Previously
Reported Reclassified
(in millions)
Assets
Cash and cash equivalents $ 2,717 $ 2,760
Investments 35,553 35,504
Separate account assets 53,848 53,848
Receivables 2,960 3,161
Deferred acquisition costs 4,499 4,499
Restricted and segregated cash 1,236 1,254
Other assets 3,359 3,455
Total assets $104,172 $104,481
Liabilities and Shareholders’ Equity
Liabilities:
Future policy benefits and claims $ 30,033 $ 30,031
Separate account liabilities 53,848 53,848
Customer deposits 6,707 6,707
Debt 2,225 2,244
Accounts payable and accrued expenses 1,788 1,209
Other liabilities 1,646 2,517
Total liabilities 96,247 96,556
Shareholders’ Equity:
Total shareholders’ equity 7,925 7,925
Total liabilities and shareholders’ equity $104,172 $104,481
Ameriprise Financial 2007 Annual Report 63