Ameriprise 2014 Annual Report Download - page 122

Consolidated Statements of Cash Flows
Ameriprise Financial, Inc.
Years Ended December 31,
2014 2013 2012
(in millions)
Cash Flows from Operating Activities
Net income $ 2,000 $ 1,475 $ 901
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net 254 239 225
Deferred income tax expense (benefit) 228 (118) 50
Share-based compensation 130 143 134
Net realized investment gains (45) (16) (45)
Net trading losses (gains) (7) (7) 2
Loss (income) and (gain) from sale of equity method investments 11 (31) 15
Other-than-temporary impairments and provision for loan losses 7842
Net losses (gains) of consolidated investment entities (378) (136) 158
Changes in operating assets and liabilities:
Restricted and segregated cash and investments (256) 93 (684)
Deferred acquisition costs 31 (132) (27)
Other investments, net (37) (6) 11
Policyholder account balances, future policy benefits and claims 1,120 (1,318) (741)
Derivatives, net of collateral (883) 1,706 661
Receivables (423) (267) (130)
Brokerage deposits 378 63 683
Accounts payable and accrued expenses 137 134 171
Cash held by consolidated investment entities 37 174 (109)
Investment properties of consolidated investment entities 258 (603) (156)
Other operating assets and liabilities of consolidated investment entities, net — (38) 103
Other, net (163) 1 241
Net cash provided by operating activities 2,399 1,364 1,505
Cash Flows from Investing Activities
Available-for-Sale securities:
Proceeds from sales 516 327 3,719
Maturities, sinking fund payments and calls 4,352 5,101 4,994
Purchases (4,127) (5,780) (4,957)
Proceeds from sales, maturities and repayments of mortgage loans 585 711 674
Funding and purchase of mortgage loans (525) (630) (586)
Proceeds from sales and collections of other investments 207 348 199
Purchase of other investments (408) (347) (403)
Purchase of investments by consolidated investment entities (3,198) (3,077) (1,604)
Proceeds from sales, maturities and repayments of investments by consolidated investment entities 2,017 2,604 2,316
Purchase of land, buildings, equipment and software (113) (105) (137)
Change in credit card receivables, net — — 194
Other, net (21) 46 8
Net cash provided by (used in) investing activities (715) (802) 4,417
Cash Flows from Financing Activities
Investment certificates and banking time deposits:
Proceeds from additions 2,482 2,348 1,754
Maturities, withdrawals and cash surrenders (2,259) (1,877) (1,187)
Change in other banking deposits — — (4,571)
Policyholder account balances:
Deposits and other additions 2,042 2,158 2,198
Net transfers to separate accounts (216) (116) (30)
Surrenders and other benefits (2,440) (1,994) (2,063)
Cash paid for purchased options with deferred premiums (417) (396) (356)
Cash received from purchased options with deferred premiums 59 — —
Issuance of debt, net of issuance costs 543 744 —
Repayments of debt (200) (350) —
Change in short-term borrowings, net (301) (2) (5)
Dividends paid to shareholders (426) (401) (305)
Repurchase of common shares (1,577) (1,583) (1,381)
Exercise of stock options 33 118 160
Excess tax benefits from share-based compensation 162 120 64
Borrowings by consolidated investment entities 2,159 1,725 175
Repayments of debt by consolidated investment entities (1,011) (1,046) (709)
Noncontrolling interests investments in subsidiaries 176 392 125
Distributions to noncontrolling interests (465) (161) (207)
Other, net (1) 15 (4)
Net cash used in financing activities (1,657) (306) (6,342)
Effect of exchange rate changes on cash (21) 5 10
Net increase (decrease) in cash and cash equivalents 6 261 (410)
Cash and cash equivalents at beginning of period 2,632 2,371 2,781
Cash and cash equivalents at end of period $ 2,638 $ 2,632 $ 2,371
Supplemental Disclosures:
Interest paid excluding consolidated investment entities $ 178 $ 170 $ 190
Interest paid by consolidated investment entities 190 156 176
Income taxes paid, net 578 391 217
Non-cash investing activity:
Affordable housing partnership commitments not yet remitted 38 96 13
See Notes to Consolidated Financial Statements.
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