Ameriprise 2013 Annual Report Download - page 142

The following tables provide information about Available-for-Sale securities with gross unrealized losses and the length of
time that individual securities have been in a continuous unrealized loss position:
December 31, 2013
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 181 $ 2,817 $ (83) 12 $ 181 $ (14) 193 $ 2,998 $ (97)
Residential mortgage
backed securities 128 2,393 (66) 113 663 (71) 241 3,056 (137)
Commercial mortgage
backed securities 35 426 (10) 4 22 (2) 39 448 (12)
Asset backed securities 40 531 (7) 4 32 (1) 44 563 (8)
State and municipal
obligations 169 468 (36) 14 117 (42) 183 585 (78)
Foreign government bonds
and obligations 23 77 (8) — — — 23 77 (8)
Total 576 $ 6,712 $ (210) 147 $ 1,015 $ (130) 723 $ 7,727 $ (340)
December 31, 2012
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 76 $ 801 $ (6) 6 $ 70 $ (3) 82 $ 871 $ (9)
Residential mortgage backed
securities 22 408 (5) 134 658 (107) 156 1,066 (112)
Asset backed securities 9 108 (1) 5 86 (3) 14 194 (4)
State and municipal
obligations 13 34 (1) 8 113 (35) 21 147 (36)
Total 120 $ 1,351 $ (13) 153 $ 927 $ (148) 273 $ 2,278 $ (161)
As part of Ameriprise Financial’s ongoing monitoring process, management determined that a majority of the change in
gross unrealized losses on its Available-for-Sale securities is attributable to movement in interest rates.
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 (loss):
December 31,
2013 2012 2011
(in millions)
Beginning balance $ 176 $ 303 $ 297
Credit losses for which an other-than-temporary impairment was not previously recognized 2 2 15
Credit losses for which an other-than-temporary impairment was previously recognized 7 32 19
Reductions for securities sold during the period (realized) (38) (161) (28)
Ending balance $ 147 $ 176 $ 303
The change in net unrealized securities gains (losses) in other comprehensive income (loss) 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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