Ameriprise 2009 Annual Report Download - page 63

The following table presents detail regarding our owned, managed and administered assets:
December 31,
2009 2008 Change
(in billions, except percentages)
Owned Assets $ 36.9 $ 31.7 16 %
Managed Assets(1):
Domestic 149.0 127.9 16
International 97.8 74.2 32
Wrap account assets 94.9 72.8 30
Eliminations(2) (15.9) (10.0) 59
Total Managed Assets 325.8 264.9 23
Administered Assets 95.1 75.5 26
Total Owned, Managed and Administered Assets $ 457.8 $ 372.1 23 %
(1) Includes managed external client assets and managed owned assets.
(2) Includes eliminations for Domestic mutual fund assets included in wrap account assets and Domestic assets sub-advised by Threadneedle.
Consolidated Results of Operations
Year Ended December 31, 2009 Compared to Year Ended December 31, 2008
The following table presents our consolidated results of operations:
Years Ended December 31,
2009 2008 Change
(in millions, except percentages)
Revenues
Management and financial advice fees $ 2,704 $ 2,899 $ (195) (7)%
Distribution fees 1,420 1,565 (145) (9)
Net investment income 2,002 817 1,185 NM
Premiums 1,098 1,048 50 5
Other revenues 722 766 (44) (6)
Total revenues 7,946 7,095 851 12
Banking and deposit interest expense 141 179 (38) (21)
Total net revenues 7,805 6,916 889 13
Expenses
Distribution expenses 1,782 1,912 (130) (7)
Interest credited to fixed accounts 903 790 113 14
Benefits, claims, losses and settlement expenses 1,342 1,125 217 19
Amortization of deferred acquisition costs 217 933 (716) (77)
Interest and debt expense 127 109 18 17
General and administrative expense 2,514 2,472 42 2
Total expenses 6,885 7,341 (456) (6)
Pretax income (loss) 920 (425) 1,345 NM
Income tax provision (benefit) 183 (333) 516 NM
Net income (loss) 737 (92) 829 NM
Less: Net income (loss) attributable to noncontrolling interests 15 (54) 69 NM
Net income (loss) attributable to Ameriprise Financial $ 722 $ (38) $ 760 NM
NM Not Meaningful.
48 ANNUAL REPORT 2009