Ameriprise 2011 Annual Report Download - page 84

The following table presents the results of operations of our Corporate & Other segment:
Years Ended December 31,
2011 2010
Less: Less:
GAAP Adjustments(1) Operating GAAP Adjustments(1) Operating Operating Change
(in millions)
Revenues
Management and financial advice fees $ (1) $ — $ (1) $ — $ — $ — $ (1) NM
Distribution fees — — — — — — — —
Net investment income (loss) 68 95 (27) 273 294 (21) (6) (29)%
Other revenues 124 94 30 153 125 28 2 7
Total revenues 191 189 2 426 419 7 (5) (71)
Banking and deposit interest expense (1) — (1) 3 — 3 (4) NM
Total net revenues 192 189 3 423 419 4 (1) (25)
Expenses
Distribution expenses 1 — 1 1 — 1 — —
Interest and debt expense 316 221 95 288 181 107 (12) (11)
General and administrative expense 218 70 148 185 65 120 28 23
Total expenses 535 291 244 474 246 228 16 7
Pretax loss (343) (102) (241) (51) 173 (224) (17) (8)
Less: Net income (loss) attributable to
noncontrolling interests (106) (106) — 163 163 — — —
Pretax loss attributable to Ameriprise
Financial $ (237) $ 4 $ (241) $ (214) $ 10 $ (224) $ (17) (8)%
NM Not Meaningful.
(1) Includes revenues and expenses of the CIEs; net realized gains or losses; and integration and restructuring charges.
The following table presents the components of the adjustments in the table above:
Years Ended December 31,
2011 2010
Other Total Other Total
CIEs Adjustments(1) Adjustments CIEs Adjustments(1) Adjustments
(in millions)
Revenues
Net investment income (loss) $ 91 $ 4 $ 95 $ 275 $ 19 $ 294
Other revenues 94 — 94 125 — 125
Total revenues 185 4 189 400 19 419
Banking and deposit interest expense — — — — — —
Total net revenues 185 4 189 400 19 419
Expenses
Distribution expenses — — — — — —
Interest and debt expense 221 — 221 181 — 181
General and administrative expense 70 — 70 56 9 65
Total expenses 291 — 291 237 9 246
Pretax loss (106) 4 (102) 163 10 173
Less: Net income (loss) attributable to
noncontrolling interests (106) — (106) 163 — 163
Pretax loss attributable to Ameriprise Financial $ — $ 4 $ 4 $ — $ 10 $ 10
(1) Other adjustments include net realized gains or losses and integration and restructuring charges.
Our Corporate & Other segment pretax loss attributable to Ameriprise Financial was $237 million for the year ended
December 31, 2011 compared to $214 million for the prior year. Our Corporate & Other segment pretax operating loss
excludes net realized gains or losses, integration and restructuring charges and the impact of consolidating CIEs. Our
Corporate & Other segment pretax operating loss was $241 million for the year ended December 31, 2011 compared to
$224 million for the prior year.
Net revenues decreased $231 million, or 55%, to $192 million for the year ended December 31, 2011 compared to
$423 million for the prior year reflecting the impact of consolidating CIEs. Operating net revenues, which exclude revenues
or losses of CIEs and net realized gains or losses, decreased $1 million, or 25%, to $3 million for the year ended
December 31, 2011 compared to $4 million for the prior year.
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