Ameriprise 2012 Annual Report Download - page 140
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December 31, 2011
Less than 12 months 12 months or more Total
Number of Fair Unrealized Number of Fair Unrealized Number of Fair Unrealized
Description of Securities Securities Value Losses Securities Value Losses Securities Value Losses
(in millions, except number of securities)
Corporate debt securities 124 $ 1,647 $ (40) 10 $ 259 $ (41) 134 $ 1,906 $ (81)
Residential mortgage backed
securities 121 1,424 (39) 169 821 (328) 290 2,245 (367)
Commercial mortgage
backed securities 14 182 (2) 5 29 — 19 211 (2)
Asset backed securities 33 388 (5) 5 51 (3) 38 439 (8)
State and municipal
obligations — — — 53 229 (58) 53 229 (58)
Foreign government bonds
and obligations 6 28 (1) — — — 6 28 (1)
Total 298 $ 3,669 $ (87) 242 $ 1,389 $ (430) 540 $ 5,058 $ (517)
As part of Ameriprise Financial’s ongoing monitoring process, management determined that a majority of the gross
unrealized losses on its Available-for-Sale securities are attributable to movement in credit spreads primarily related to
non-agency residential mortgage backed securities purchased prior to 2008.
The following table presents a rollforward of the cumulative amounts recognized in the Consolidated Statements of
Operations for other-than-temporary impairments related to credit losses on securities for which a portion of the securities’
total other-than-temporary impairments was recognized in other comprehensive income:
Years Ended December 31,
2012 2011 2010
(in millions)
Beginning balance $ 303 $ 297 $ 263
Credit losses for which an other-than-temporary impairment was not previously
recognized 215 15
Credit losses for which an other-than-temporary impairment was previously
recognized 32 19 19
Reductions for securities sold during the period (realized) (161) (28) —
Ending balance $ 176 $ 303 $ 297
The change in net unrealized securities gains (losses) in other comprehensive income includes three components, net of
tax: (i) unrealized gains (losses) that arose from changes in the market value of securities that were held during the period;
(ii) (gains) losses that were previously unrealized, but have been recognized in current period net income due to sales of
Available-for-Sale securities and due to the reclassification of noncredit other-than-temporary impairment losses to credit
losses; and (iii) other items primarily consisting of adjustments in asset and liability balances, such as DAC, DSIC, benefit
reserves and reinsurance recoverables, to reflect the expected impact on their carrying values had the unrealized gains
(losses) been realized as of the respective balance sheet dates.
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