Ameriprise 2011 Annual Report Download - page 99

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
Net investment income (loss) $ 275 $ 19 $ 294 $ 2 $ — $ 2
Other revenues 125 — 125 28 — 28
Total revenues 400 19 419 30 — 30
Banking and deposit interest expense — — — 6 — 6
Total net revenues 400 19 419 24 — 24
Expenses
Distribution expenses — — — — — —
Interest and debt expense 181 — 181 — — —
General and administrative expense 56 9 65 9 4 13
Total expenses 237 9 246 9 4 13
Pretax loss 163 10 173 15 (4) 11
Less: Net income attributable to noncontrolling
interests 163 — 163 15 — 15
Pretax loss attributable to Ameriprise Financial $ — $ 10 $ 10 $ — $ (4) $ (4)
(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 $214 million for the year ended
December 31, 2010 compared to $267 million in the prior year. Our Corporate & Other segment pretax operating loss
attributable to Ameriprise Financial excludes net realized gains or losses, integration and restructuring charges and the
impact of consolidating CIEs. Our Corporate & Other segment pretax operating loss attributable to Ameriprise Financial was
$224 million for the year ended December 31, 2010 compared to $263 million in the prior year.
Net revenues increased $397 million to $423 million for the year ended December 31, 2010 compared to $26 million for
the prior year primarily reflecting revenues of CIEs. Operating net revenues, which exclude revenues of CIEs and net
realized gains or losses, increased $2 million to $4 million for the year ended December 31, 2010.
Net investment income was $273 million for the year ended December 31, 2010 compared to a loss of $57 million in the
prior year. Net investment income in 2010 primarily reflects changes in the assets and liabilities of CIEs, primarily debt and
underlying syndicated loans. The decrease in operating net investment loss, which excludes revenues of CIEs and net
realized gains or losses, reflects lower transfer priced interest income allocated to the Annuities and Protection segments
for maintaining excess liquidity.
Other revenues increased $63 million, or 70%, to $153 million for the year ended December 31, 2010, primarily due to
an increase in revenues of CIEs. Operating other revenues, which exclude revenues of CIEs, decreased $34 million, or
55%, to $28 million for the year ended December 31, 2010, due to a $58 million gain on the repurchase of certain of
our junior notes in 2009 partially offset by a $25 million benefit from the payments related to the Reserve Funds matter in
2010.
Total expenses increased $196 million, or 71%, to $474 million for the year ended December 31, 2010 compared to
$278 million for the prior year primarily reflecting expenses of CIEs. Operating expenses, which exclude expenses of CIEs
and integration and restructuring charges, decreased $37 million, or 14%, to $228 million for the year ended
December 31, 2010 compared to $265 million for the prior year.
Interest and debt expense increased $161 million to $288 million for the year ended December 31, 2010 compared to
$127 million for the prior year primarily reflecting interest expense of the CIE debt. Operating interest and debt expense,
which excludes interest expense of the CIE debt, decreased $20 million, or 16%, to $107 million for the year ended
December 31, 2010 compared to $127 million for the prior year primarily due to an expense of $13 million in 2009
related to the early retirement of $450 million of our senior notes due 2010.
General and administrative expense increased $37 million, or 25%, to $185 million for the year ended December 31,
2010 compared to $148 million for the prior year. Operating general and administrative expense, which excludes expenses
of the CIEs and integration and restructuring charges, decreased $15 million, or 11%, to $120 million for the year ended
December 31, 2010 compared to $135 million for the prior year.
84