Ameriprise 2015 Annual Report Download - page 176

For the years ended December 31, 2015, 2014 and 2013, the Company repurchased a total of 13.9 million shares,
11.8 million shares and 17.8 million shares, respectively, of its common stock for an aggregate cost of $1.7 billion,
$1.4 billion and $1.5 billion, respectively. In April 2014, the Company’s Board of Directors authorized an expenditure of up
to $2.5 billion for the repurchase of shares of the Company’s common stock through April 28, 2016. In December 2015,
the Company’s Board of Directors authorized additional expenditures of up to $2.5 billion worth of the Company’s common
stock through December 31, 2017. As of December 31, 2015, the Company had $2.6 billion remaining under its share
repurchase authorizations.
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, 2015, 2014 and 2013, the Company reacquired 0.4 million shares, 0.8 million shares
and 0.4 million shares, respectively, of its common stock through the surrender of shares upon vesting and paid in the
aggregate $49 million, $92 million and $26 million, respectively, related to the holders’ income tax obligations on the
vesting date. 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 years ended December 31, 2015, 2014 and 2013, the Company reacquired
0.7 million shares, 2.1 million shares and 2.9 million shares, respectively, of its common stock through the net settlement
of options for an aggregate value of $92 million, $252 million and $227 million, respectively.
For the years ended December 31, 2015, 2014 and 2013, respectively, the Company reissued 1.0 million, 1.6 million
and 1.9 million treasury shares, respectively, for restricted stock award grants, PSUs, and issuance of shares vested under
the Ameriprise Financial Franchise Advisor Deferred Compensation Plan.
19. Earnings per Share Attributable to Ameriprise Financial, Inc. Common
Shareholders
The computations of basic and diluted earnings per share attributable to Ameriprise Financial, Inc. common shareholders
are as follows:
Years Ended December 31,
2015 2014 2013
(in millions, except per share amounts)
Numerator:
Income from continuing operations $ 1,687 $ 2,002 $ 1,478
Less: Net income attributable to noncontrolling interests 125 381 141
Income from continuing operations attributable to Ameriprise Financial 1,562 1,621 1,337
Loss from discontinued operations, net of tax — (2) (3)
Net income attributable to Ameriprise Financial $ 1,562 $ 1,619 $ 1,334
Denominator:
Basic: Weighted-average common shares outstanding 181.7 191.6 203.2
Effect of potentially dilutive nonqualified stock options and other share-based awards 2.5 3.4 3.9
Diluted: Weighted-average common shares outstanding 184.2 195.0 207.1
Earnings per share attributable to Ameriprise Financial, Inc. common shareholders:
Basic:
Income from continuing operations $ 8.60 $ 8.46 $ 6.58
Loss from discontinued operations — (0.01) (0.02)
Net income $ 8.60 $ 8.45 $ 6.56
Diluted:
Income from continuing operations $ 8.48 $ 8.31 $ 6.46
Loss from discontinued operations — (0.01) (0.02)
Net income $ 8.48 $ 8.30 $ 6.44
The calculation of diluted earnings per share excludes the incremental effect of 1.7 million and 0.1 million options as of
December 31, 2015, and 2014, respectively, due to their anti-dilutive effect. There was no incremental effect of options
for 2013.
154