Ameriprise 2015 Annual Report Download - page 104

‘‘extraordinary dividends.’’ Extraordinary dividends also require advance notice to the Minnesota Department of Commerce, and are
subject to potential disapproval. For dividends exceeding these thresholds, RiverSource Life provided notice to the Minnesota
Department of Commerce and received responses indicating that it did not object to the payment of these dividends.
(2) On February 11, 2016, RiverSource Life’s board of directors declared a cash dividend of $400 million to Ameriprise Financial, Inc.
payable on or after March 1, 2016, pending approval by the Minnesota Department of Commerce.
(3) The dividend capacity for ACC is based on capital held in excess of regulatory requirements.
(4) The dividend capacity for IDS Property Casualty is based on the lesser of (1) 10% of the previous year-end capital and surplus or
(2) the greater of (a) net income (excluding realized gains) of the previous year or (b) the aggregate net income of the previous three
years excluding realized gains less any dividends paid within the first two years of the three-year period. Dividends that, together with
the amount of other distributions made within the preceding 12 months, exceed this statutory limitation are referred to as
‘‘extraordinary dividends’’ and require advance notice to the Office of the Commissioner of Insurance of the State of Wisconsin, the
primary state regulator of IDS Property Casualty, and are subject to potential disapproval.
The following table presents the cash dividends paid or return of capital to the parent holding company, net of cash capital
contributions made by the parent holding company for the following subsidiaries for the years ended December 31:
2015 2014 2013
(in millions)
RiverSource Life $ 800 $ 900 $ 800
Ameriprise Bank, FSB(1) — 8 130
ACC (3) 5 (10)
Columbia Management Investment Advisers, LLC 375 362 280
Columbia Management Investment Services Corporation — — 10
Threadneedle Asset Management Holdings S` arl(2) ——73
Ameriprise Trust Company —34 (8)
IDS Property Casualty(3) (175) — (50)
Ameriprise Holdings, Inc. ———
Ameriprise Advisor Capital, LLC (72) (31) (37)
RiverSource Distributors, Inc. —10 —
Ameriprise Captive Insurance Company 15 15 —
AMPF Holding Corporation 421 519 340
Total $ 1,361 $ 1,822 $ 1,528
(1) In January 2013, we completed the conversion of our federal savings bank subsidiary, Ameriprise Bank, FSB, to a limited powers
national trust bank. In connection with the discontinuance of the Ameriprise Bank’s deposit-taking and lending activities and its
conversion to a limited powers trust bank, we applied for and received approval from the OCC and the Federal Reserve System for the
Bank to pay to the parent holding company a dividend of $250 million, which was paid in the fourth quarter of 2012. Ameriprise
Bank paid an additional $130 million dividend in January 2013 upon final approval to convert Ameriprise Bank, FSB to Ameriprise
National Trust Bank.
(2) During the year ended December 31, 2014, Threadneedle Asset Management Holdings S`
arl paid a $152 million dividend to the
parent holding company consisting of a note receivable.
(3) During the year ended December 31, 2014, the parent holding company made a non-cash contribution of $51 million to IDS
Property Casualty consisting of securities. In January 2016, the parent holding company made cash contributions of $75 million to
IDS Property Casualty, which was not made under the Capital Support Agreement described in Note 4 of the Condensed Financial
Information of Registrant included in Part IV, Schedule 1 of this Annual Report on Form 10-K.
Dividends Paid to Shareholders and Share Repurchases
We paid regular quarterly dividends to our shareholders totaling $474 million and $435 million for the years ended
December 31, 2015 and 2014, respectively. On January 27, 2016, we announced a quarterly dividend of $0.67 per
common share. The dividend will be paid on February 26, 2016 to our shareholders of record at the close of business on
February 12, 2016.
In April 2014, our Board of Directors authorized an expenditure of up to $2.5 billion for the repurchase of shares of our
common stock through April 28, 2016. In December 2015, our Board of Directors authorized us to repurchase up to an
additional $2.5 billion worth of our common stock through December 31, 2017. As of December 31, 2015, the Company
had $2.6 billion remaining under its share repurchase authorizations. We intend to fund share repurchases through existing
working capital, future earnings and other customary financing methods. The share repurchase programs do not require the
purchase of any minimum number of shares, and depending on market conditions and other factors, these purchases may
be commenced or suspended at any time without prior notice. Acquisitions under the share repurchase programs may be
made in the open market, through privately negotiated transactions or block trades or other means. During the year ended
December 31, 2015, we repurchased a total of 13.9 million shares of our common stock at an average price of $120.77
per share.
Cash Flows
Cash flows of CIEs are reflected in our cash flows provided by (used in) operating activities, investing activities and
financing activities. Cash held by CIEs is not available for general use by Ameriprise Financial, nor is Ameriprise Financial
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