Ameriprise 2008 Annual Report Download - page 106
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Consolidated Statements of Operations
Ameriprise Financial, Inc.
Years Ended December 31,
2008 2007 2006
(in millions, except per share amounts)
Revenues
Management and financial advice fees $ 2,899 $ 3,238 $ 2,700
Distribution fees 1,565 1,762 1,569
Net investment income 828 2,018 2,225
Premiums 1,091 1,063 1,070
Other revenues 766 724 707
Total revenues 7,149 8,805 8,271
Banking and deposit interest expense 179 249 245
Total net revenues 6,970 8,556 8,026
Expenses
Distribution expenses $ 1,948 $ 2,057 $ 1,728
Interest credited to fixed accounts 790 847 955
Benefits, claims, losses and settlement expenses 1,125 1,179 1,132
Amortization of deferred acquisition costs 933 551 472
Interest and debt expense 109 112 101
Separation costs — 236 361
General and administrative expense 2,436 2,558 2,480
Total expenses 7,341 7,540 7,229
Pretax income (loss) (371) 1,016 797
Income tax provision (benefit) (333) 202 166
Net income (loss) $ (38) $ 814 $ 631
Earnings (loss) per common share
Basic $ (0.17) $ 3.45 $ 2.56
Diluted (0.17) (1) 3.39 2.54
Weighted average common shares outstanding:
Basic 222.3 236.2 246.5
Diluted 224.9 239.9 248.5
Cash dividends paid per common share $ 0.64 $ 0.56 $ 0.44
(1) Diluted shares used in this calculation represent basic shares due to the net loss. The use of actual diluted shares would result in
anti-dilution.
See Notes to Consolidated Financial Statements.
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