Ameriprise 2009 Annual Report Download - page 169

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Year Ended December 31, 2007
Advice &
Wealth Asset Corporate
Management Management Annuities Protection & Other Eliminations Consolidated
(in millions)
Revenue from
external customers $ 2,982 $ 1,753 $ 2,101 $ 1,893 $ 26 $ — $ 8,755
Intersegment revenue 1,057 29 105 47 4 (1,242) —
Total revenues 4,039 1,782 2,206 1,940 30 (1,242) 8,755
Banking and deposit interest
expense 230 20 — 1 6 (8) 249
Net revenues 3,809 1,762 2,206 1,939 24 (1,234) 8,506
Depreciation and amortization
expense 69 90 381 206 34 — 780
All other expenses 3,455 1,373 1,402 1,248 474 (1,234) 6,718
Total expenses 3,524 1,463 1,783 1,454 508 (1,234) 7,498
Pretax income (loss) $ 285 $ 299 $ 423 $ 485 $ (484) $ — 1,008
Income tax provision 202
Net income 806
Less: Net loss attributable to noncontrolling interests (8)
Net income attributable to Ameriprise Financial $ 814
27. Restructuring Charges
The Company announced a restructuring charge of $60 million in the fourth quarter of 2008 primarily through selective reductions in
employee headcount largely in areas other than in the Company’s client service operations. The liability balance was $7 million and
$58 million as of December 31, 2009 and 2008, respectively.
154 ANNUAL REPORT 2009