Ameriprise 2011 Annual Report Download - page 87

The following table presents the components of the adjustments in the table above:
Years Ended December 31,
2010 2009
Other Total Other Total
CIEs Adjustments(1) Adjustments CIEs Adjustments(1) Adjustments
(in millions)
Revenues
Management and financial advice fees $ (38) $ — $ (38) $ (2) $ — $ (2)
Distribution fees — — — — — —
Net investment income 275 33 308 2 53 55
Premiums — — — — — —
Other revenues 125 — 125 28 — 28
Total revenues 362 33 395 28 53 81
Banking and deposit interest expense — — — 6 — 6
Total net revenues 362 33 395 22 53 75
Expenses
Distribution expenses — — — — — —
Interest credited to fixed accounts — — — — — —
Benefits, claims, losses and settlement
expenses — 9 9 — 154 154
Amortization of deferred acquisition costs — 16 16 — (93) (93)
Interest and debt expense 181 — 181 — — —
General and administrative expense 18 111 129 7 98 105
Total expenses 199 136 335 7 159 166
Income from continuing operations before
income tax provision 163 (103) 60 15 (106) (91)
Income tax provision — (36) (36) — (37) (37)
Income from continuing operations 163 (67) 96 15 (69) (54)
Income (loss) from discontinued operations, net
of tax — (24) (24) — 1 1
Net income 163 (91) 72 15 (68) (53)
Less: Net income attributable to noncontrolling
interests 163 — 163 15 — 15
Net income attributable to Ameriprise Financial $ — $ (91) $ (91) $ — $ (68) $ (68)
(1) Other adjustments include net realized gains or losses; the market impact on variable annuity living benefits, net of hedges, DSIC and
DAC amortization; integration and restructuring charges; and income (loss) from discontinued operations.
Overall
Net income attributable to Ameriprise Financial increased $375 million, or 52%, to $1.1 billion for the year ended
December 31, 2010 compared to $722 million for the prior year. Operating earnings exclude net realized gains or losses;
the market impact on variable annuity guaranteed living benefits, net of hedges, DSIC and DAC amortization; integration
and restructuring charges; income (loss) of discontinued operations; and the impact of consolidating CIEs. Operating
earnings increased $398 million, or 50%, to $1.2 billion for the year ended December 31, 2010 compared to
$790 million for the prior year driven by improved client activity, market appreciation and net inflows in wrap account
assets and variable annuities, as well as improved scale from the Columbia Management Acquisition.
The total pretax impacts on our revenues and expenses for 2010 attributable to the review of valuation assumptions and
models on an operating basis were as follows:
Benefits,
Claims, Losses
and Settlement Amortization
Segment Pretax Benefit (Charge) Other Revenues Expenses of DAC Total
(in millions)
Valuation assumptions and model changes:
Annuities $ — $ (256) $ 353 $ 97
Protection (20) (44) 22 (42)
Total $ (20) $ (300) $ 375 $ 55
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