Ameriprise 2015 Annual Report Download - page 121

Ameriprise Financial, Inc.
Consolidated Statements of Cash Flows
Years Ended December 31,
2015 2014 2013
(in millions)
Cash Flows from Operating Activities
Net income $ 1,687 $ 2,000 $ 1,475
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net 248 254 239
Deferred income tax expense (benefit) (131) 228 (118)
Share-based compensation 145 130 143
Net realized investment gains (14) (45) (16)
Net trading gains (7) (7) (7)
Loss (income) from equity method investments 14 11 (31)
Other-than-temporary impairments and provision for loan losses 978
Net gains of consolidated investment entities (132) (378) (136)
Changes in operating assets and liabilities:
Restricted and segregated cash and investments (335) (256) 93
Deferred acquisition costs (7) 31 (132)
Other investments, net 81 (37) (6)
Policyholder account balances, future policy benefits and claims, net 494 1,120 (1,318)
Derivatives, net of collateral 93 (883) 1,706
Receivables (277) (423) (267)
Brokerage deposits 337 378 63
Accounts payable and accrued expenses 82 137 134
Cash held by consolidated investment entities (107) 37 174
Investment properties of consolidated investment entities (114) 258 (603)
Other operating assets and liabilities of consolidated investment entities, net 95 — (38)
Other, net 411 (163) 1
Net cash provided by operating activities 2,572 2,399 1,364
Cash Flows from Investing Activities
Available-for-Sale securities:
Proceeds from sales 294 516 327
Maturities, sinking fund payments and calls 4,542 4,352 5,101
Purchases (4,562) (4,127) (5,780)
Proceeds from sales, maturities and repayments of mortgage loans 631 585 711
Funding of mortgage loans (558) (525) (630)
Proceeds from sales and collections of other investments 236 207 348
Purchase of other investments (306) (408) (347)
Purchase of investments by consolidated investment entities (2,678) (3,198) (3,077)
Proceeds from sales, maturities and repayments of investments by consolidated investment entities 2,009 2,017 2,604
Purchase of land, buildings, equipment and software (133) (113) (105)
Other, net 11 (21) 46
Net cash used in investing activities $ (514) $ (715) $ (802)
Cash Flows from Financing Activities
Investment certificates:
Proceeds from additions $ 3,139 $ 2,482 $ 2,348
Maturities, withdrawals and cash surrenders (2,509) (2,259) (1,877)
Policyholder account balances:
Deposits and other additions 2,061 2,042 2,158
Net transfers to separate accounts (171) (216) (116)
Surrenders and other benefits (2,714) (2,440) (1,994)
Cash paid for purchased options with deferred premiums (392) (417) (396)
Cash received from purchased options with deferred premiums 16 59 —
Issuance of long-term debt, net of issuance costs — 543 744
Repayments of long-term debt (409) (200) (350)
Change in short-term borrowings, net (1) (301) (2)
Dividends paid to shareholders (465) (426) (401)
Repurchase of common shares (1,741) (1,577) (1,583)
Exercise of stock options 16 33 118
Excess tax benefits from share-based compensation 81 162 120
Borrowings by consolidated investment entities 1,650 2,159 1,725
Repayments of debt by consolidated investment entities (719) (1,011) (1,046)
Noncontrolling interests investments in subsidiaries 255 176 392
Distributions to noncontrolling interests (415) (465) (161)
Other, net —(1)15
Net cash used in financing activities (2,318) (1,657) (306)
Effect of exchange rate changes on cash (21) (21) 5
Net increase (decrease) in cash and cash equivalents (281) 6 261
Cash and cash equivalents at beginning of period 2,638 2,632 2,371
Cash and cash equivalents at end of period $ 2,357 $ 2,638 $ 2,632
Supplemental Disclosures:
Interest paid excluding consolidated investment entities $ 186 $ 178 $ 170
Interest paid by consolidated investment entities 257 190 156
Income taxes paid, net 439 578 391
Non-cash investing activity:
Affordable housing partnership commitments not yet remitted 45 38 96
See Notes to Consolidated Financial Statements.
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