Ameriprise 2014 Annual Report Download - page 177

18. Shareholders’ Equity
The following table presents the components of AOCI, net of tax:
December 31,
2014 2013
(in millions)
Net unrealized securities gains $ 786 $ 655
Net unrealized derivatives losses —(1)
Foreign currency translation (53) (13)
Defined benefit plans (71) (46)
Total $ 662 $ 595
See Note 5, Note 16 and Note 22 for additional disclosures related to net unrealized securities gains, net unrealized
derivatives losses and net unrealized actuarial losses on defined benefit plans, respectively.
The following table provides information related to amounts reclassified from AOCI:
Years Ended
December 31,
AOCI Reclassification Location of Loss (Gain) Recognized in Income 2014 2013
(in millions)
Net unrealized gains on Available-for-Sale securities Net investment income $ (39) $ (7)
Tax expense Income tax provision 14 2
Net of tax $ (25) $ (5)
Losses (gains) on cash flow hedges:
Interest rate contracts Interest and debt expense $ (4) $ (4)
Swaptions Net investment income 5 5
Total before tax 11
Tax expense Income tax provision — —
Net of tax $1$1
See Note 5 for additional information related to the impact of DAC, DSIC, unearned revenue, benefit reserves and
reinsurance recoverable on net unrealized securities gains/losses included in AOCI. See Note 16 for additional information
regarding the Company’s cash flow hedges.
For the years ended December 31, 2014, 2013 and 2012, the Company repurchased a total of 11.8 million shares,
17.8 million shares and 24.6 million shares, respectively, of its common stock for an aggregate cost of $1.4 billion,
$1.5 billion and $1.3 billion, respectively. On October 24, 2012, the Company’s Board of Directors authorized an
expenditure of up to $2.0 billion for the repurchase of the Company’s common stock through 2014. In April 2014, the
Company’s Board of Directors authorized an expenditure of up to an additional $2.5 billion for the repurchase of shares of
our common stock through April 28, 2016. As of December 31, 2014, the Company had $1.8 billion remaining under its
share repurchase authorization.
The Company may also reacquire shares of its common stock under its share-based compensation plans related to
restricted stock awards and certain option exercises. The holders of restricted shares may elect to surrender a portion of
their shares on the vesting date to cover their income tax obligation. These vested restricted shares are reacquired by the
Company and the Company’s payment of the holders’ income tax obligations are recorded as a treasury share purchase.
For the years ended December 31, 2014, 2013 and 2012, the Company reacquired 0.8 million shares, 0.4 million shares
and 0.3 million shares, respectively, of its common stock through the surrender of shares upon vesting and paid in the
aggregate $92 million, $26 million and $18 million, respectively, related to the holders’ income tax obligations on the
vesting date. Beginning in 2013, option holders may elect to net settle their vested awards resulting in the surrender of
the number of shares required to cover the strike price and tax obligation of the options exercised. These shares are
reacquired by the Company and recorded as treasury shares. For the year ended December 31, 2014, the Company
reacquired 2.1 million shares of its common stock through the net settlement of options for an aggregate value of
$252 million, of which $160 million related to the strike price and $92 million related to the holders’ income tax
obligation. For the year ended December 31, 2013, the Company reacquired 2.9 million shares of its common stock
through the net settlement of options for an aggregate value of $227 million, of which $145 million related to the strike
price and $82 million related to the holders’ income tax obligation.
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