Ameriprise 2011 Annual Report Download - page 85
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Net investment income was $68 million for the year ended December 31, 2011 compared to $273 million for the prior
year. Net investment income for the year ended December 31, 2011 included a $91 million gain for changes in the assets
and liabilities of CIEs, primarily debt and underlying syndicated loans, compared to a $275 million gain for the prior year.
Operating net investment loss, which excludes net investment income or loss of the CIEs and net realized gains or losses,
was $27 million for the year ended December 31, 2011 compared to $21 million for the prior year.
Other revenues decreased $29 million, or 19%, to $124 million for the year ended December 31, 2011 compared to
$153 million for the prior year. Operating other revenues, which exclude revenues or losses of the CIEs, increased $2 million,
or 7%, to $30 million for the year ended December 31, 2011 compared to $28 million for the prior year. During the second
quarter of 2011, we reclassified from accumulated other comprehensive income into earnings a $27 million gain on an
interest rate hedge put in place in anticipation of issuing debt between December 2010 and June 2011. Operating other
revenues for 2010 included a $25 million benefit from payments related to the Reserve Funds matter.
Total expenses increased $61 million, or 13%, to $535 million for the year ended December 31, 2011 compared to
$474 million for the prior year. Operating expenses, which exclude expenses of CIEs and integration and restructuring
charges, increased $16 million, or 7%, to $244 million for the year ended December 31, 2011 compared to $228 million
for the prior year.
Interest and debt expense increased $28 million, or 10%, to $316 million for the year ended December 31, 2011
compared to $288 million for the prior year. Operating interest and debt expense, which excludes interest expense on CIE
debt, decreased $12 million, or 11%, to $95 million for the year ended December 31, 2011 compared to $107 million
for the prior year primarily due to lower average debt balances.
General and administrative expense increased $33 million, or 18%, to $218 million for the year ended December 31,
2011 compared to $185 million for the prior year. Operating general and administrative expense, which excludes expenses
of the CIEs and integration and restructuring charges, increased $28 million, or 23%, to $148 million for the year ended
December 31, 2011 compared to $120 million for the prior year.
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