Ameriprise 2009 Annual Report Download - page 82

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companies. Revenue Ruling 2007-61 suspended a revenue ruling issued in August 2007 that purported to change accepted industry and
IRS interpretations of the statutes governing these computational questions. Any regulations that the IRS ultimately proposes for
issuance in this area will be subject to public notice and comment, at which time insurance companies and other members of the public
will have the opportunity to raise legal and practical questions about the content, scope and application of such regulations. As a result,
the ultimate timing and substance of any such regulations are unknown at this time, but they may result in the elimination of some or all
of the separate account DRD tax benefit that the Company receives. Management believes that it is likely that any such regulations would
apply prospectively only.
Results of Operations by Segment
Year Ended December 31, 2008 Compared to Year Ended December 31, 2007
The following tables present summary financial information by segment and reconciliation to consolidated totals derived from Note 26 to
our Consolidated Financial Statements:
Years Ended December 31,
Percent Percent
Share Share
2008 of Total 2007 of Total
(in millions, except percentages)
Total net revenues
Advice & Wealth Management $ 3,110 45 % $ 3,809 45 %
Asset Management 1,289 19 1,762 21
Annuities 1,618 23 2,206 26
Protection 1,954 28 1,939 23
Corporate & Other (1) — 24 —
Eliminations (1,054) (15) (1,234) (15)
Total net revenues $ 6,916 100 % $ 8,506 100 %
Total expenses
Advice & Wealth Management $ 3,259 44 % $ 3,524 47 %
Asset Management 1,266 17 1,463 20
Annuities 1,905 26 1,783 23
Protection 1,602 22 1,454 19
Corporate & Other 363 5 508 7
Eliminations (1,054) (14) (1,234) (16)
Total expenses $ 7,341 100 % $ 7,498 100 %
Net loss attributable to noncontrolling interests
Asset Management $ (54) 100 % $ (8) 100 %
Pretax income (loss) attributable to Ameriprise Financial
Advice & Wealth Management $ (149) 40 % $ 285 28 %
Asset Management 77 (21) 307 30
Annuities (287) 77 423 42
Protection 352 (94) 485 48
Corporate & Other (364) 98 (484) (48)
Pretax income (loss) attributable to Ameriprise Financial $ (371) 100 % $ 1,016 100 %
ANNUAL REPORT 2009 67