Ameriprise 2011 Annual Report Download - page 117

Consolidated Statements of Cash Flows
Ameriprise Financial, Inc.
Years Ended December 31,
2011 2010 2009
(in millions)
Cash Flows from Operating Activities
Net income $ 970 $ 1,260 $ 737
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization and accretion, net 110 110 120
Deferred income tax expense (benefit) 61 513 (24)
Share-based compensation 145 158 182
Net realized investment gains (34) (60) (163)
Other-than-temporary impairments and provision for loan losses 43 47 132
Net loss (income) attributable to noncontrolling interests 106 (163) (15)
Changes in operating assets and liabilities before consolidated investment entities:
Restricted and segregated cash and investments (11) (186) 245
Deferred acquisition costs 126 (398) (403)
Other investments, net 48 2 301
Future policy benefits and claims, net (28) 383 105
Receivables (260) (441) (186)
Brokerage deposits 225 222 (94)
Accounts payable and accrued expenses (80) 195 26
Derivatives collateral, net 738 111 (1,914)
Other, net 207 (54) 86
Changes in operating assets and liabilities of consolidated investment entities, net (188) 148 (453)
Net cash provided by (used in) operating activities 2,178 1,847 (1,318)
Cash Flows from Investing Activities
Available-for-Sale securities:
Proceeds from sales 888 1,519 5,630
Maturities, sinking fund payments and calls 5,206 6,404 5,855
Purchases (7,236) (7,502) (17,815)
Proceeds from sales, maturities and repayments of commercial mortgage loans 224 226 294
Funding of commercial mortgage loans (238) (154) (104)
Proceeds from sales of other investments 360 189 75
Purchase of other investments (422) (102) (14)
Purchase of investments by consolidated investment entities (2,871) (1,935) —
Proceeds from sales, maturities and repayments of investments by consolidated investment
entities 3,399 2,005 —
Purchase of land, buildings, equipment and software (250) (131) (83)
Acquisitions — (866) —
Proceeds from sale of business 150 — —
Change in consumer banking loans and credit card receivables, net (349) (372) (218)
Other, net (7) (15) 7
Net cash used in investing activities (1,146) (734) (6,373)
Cash Flows from Financing Activities
Investment certificates and banking time deposits:
Proceeds from additions 873 1,029 2,411
Maturities, withdrawals and cash surrenders (1,243) (1,871) (3,177)
Change in other banking deposits 1,210 842 1,187
Policyholder and contractholder account values:
Consideration received 1,378 1,593 4,863
Net transfers from (to) separate accounts 39 (1,337) 195
Surrenders and other benefits (1,311) (1,338) (1,923)
Deferred premium options, net (254) (182) (82)
Proceeds from issuance of common stock — — 869
Issuance of debt, net of issuance costs — 744 491
Repayments of debt (20) (354) (550)
Change in short-term borrowings, net 107 397 —
Dividends paid to shareholders (212) (183) (164)
Repurchase of common shares (1,495) (582) (11)
Exercise of stock options 66 113 6
Excess tax benefits from share-based compensation 90 9 12
Borrowings by consolidated investment entities 163 163 234
Repayments of debt by consolidated investment entities (603) (287) —
Noncontrolling interests investments in subsidiaries 155 77 231
Distributions to noncontrolling interests (54) (171) (45)
Other, net — (5) (2)
Net cash provided by (used in) financing activities (1,111) (1,343) 4,545
Effect of exchange rate changes on cash (1) (6) 15
Net decrease in cash and cash equivalents(1) (80) (236) (3,131)
Cash and cash equivalents at beginning of period(1) 2,861 3,097 6,228
Cash and cash equivalents at end of period(1) $ 2,781 $ 2,861 $ 3,097
Supplemental Disclosures:
Interest paid before consolidated investment entities $ 201 $ 231 $ 251
Income taxes paid, net 370 61 98
Non-cash investing activity:
Affordable housing partnership commitments not yet remitted 137 188 —
Non-cash financing activity:
Dividends declared but not paid 62 — —
(1) Cash and cash equivalents includes cash held for sale. See Note 24 for additional information.
See Notes to Consolidated Financial Statements.
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