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AMERIPRISE FINANCIAL INC

CIK:0000820027|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Net investment income	$ 893	$ 891	$ 1,765	$ 1,759
Premiums, policy and contract charges	341	361	682	721
Other revenues	140	136	306	265
Total revenues	5,013	4,490	9,899	8,971
Banking and deposit interest expense	73	115	147	242
Total net revenues	4,940	4,375	9,752	8,729
Benefits and expenses
Distribution expenses	2,116	1,596	3,889	3,208
Interest credited to fixed accounts	169	95	311	225
Benefits, claims, losses and settlement expenses	294	257	611	638
Remeasurement (gains) losses of future policy benefit reserves	1	(3)	0	(13)
Change in fair value of market risk benefits	(229)	(10)	149	487
Amortization of deferred acquisition costs	61	60	122	121
Interest and debt expense	84	82	164	162
General and administrative expense	1,002	947	1,920	1,863
Total benefits and expenses	3,498	3,024	7,166	6,691
Pretax income	1,442	1,351	2,586	2,038
Income tax provision	329	291	558	395
Net income	$ 1,113	$ 1,060	$ 2,028	$ 1,643
Earnings per share
Basic (in dollars per share)	$ 12.12	$ 10.88	$ 21.90	$ 16.78
Diluted (in dollars per share)	$ 11.98	$ 10.73	$ 21.64	$ 16.53
Management and financial advice fees
Revenues
Revenue from contracts with customers	$ 3,066	$ 2,600	$ 6,010	$ 5,202
Distribution fees
Revenues
Revenue from contracts with customers	$ 573	$ 502	$ 1,136	$ 1,024

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net income	$ 2,028	$ 1,643
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization and accretion, net	(14)	(54)
Deferred income tax expense (benefit)	331	107
Share-based compensation	89	95
Net realized investment (gains) losses	(1)	10
Net trading (gains) losses	(3)	(2)
Loss from equity method investments	2	9
Impairments and provision for loan and credit losses	14	(4)
Net (gains) losses of consolidated investment entities	0	7
Changes in operating assets and liabilities:
Restricted and segregated investments	0	477
Deferred acquisition costs	19	30
Policyholder account balances, future policy benefits and claims, and market risk benefits, net	2,651	2,178
Derivatives, net of collateral	(1,876)	(275)
Receivables	(981)	(103)
Brokerage deposits	475	(146)
Accounts payable and accrued expenses	(80)	(273)
Current income tax, net	(406)	(413)
Other operating assets and liabilities of consolidated investment entities, net	(12)	7
Other, net	1,109	157
Net cash provided by (used in) operating activities	3,345	3,450
Available-for-Sale securities:
Proceeds from sales	602	1,573
Maturities, sinking fund payments and calls	6,045	8,483
Purchases	(7,724)	(10,642)
Proceeds from sales, maturities and repayments of mortgage loans	189	86
Funding of mortgage loans	(539)	(240)
Proceeds from sales, maturities and collections of other investments	17	51
Purchase of other investments	(31)	(41)
Purchase of investments by consolidated investment entities	(425)	(731)
Proceeds from sales, maturities and repayments of investments by consolidated investment entities	433	426
Purchase of land, buildings, equipment and software	(66)	(74)
Cash paid for written options with deferred premiums	(73)	0
Cash received from written options with deferred premiums	18	5
Cash paid for deposit receivables	(14)	(15)
Cash received for deposit receivables	202	229
Other, net	(226)	(49)
Net cash provided by (used in) investing activities	(1,592)	(939)
Investment certificates:
Proceeds from additions	1,609	1,752
Maturities, withdrawals and cash surrenders	(2,368)	(3,055)
Policyholder account balances:
Deposits and other additions	685	590
Net transfers from (to) separate accounts	(86)	(71)
Surrenders and other benefits	(654)	(751)
Change in banking deposits, net	277	191
Cash paid for purchased options with deferred premiums	(113)	(40)
Cash received for purchased options with deferred premiums	152	0
Issuance of long-term debt, net of issuance costs	742	740
Repayments of long-term debt	0	(506)
Dividends paid to shareholders	(300)	(296)
Repurchase of common shares	(1,653)	(1,311)
Borrowings of consolidated investment entities	227	691
Repayments of debt by consolidated investment entities	(262)	(362)
Net cash provided by (used in) financing activities	(1,744)	(2,428)
Effect of exchange rate changes on cash	(8)	38
Net increase (decrease) in cash and cash equivalents, including amounts restricted	1	121
Cash and cash equivalents, including amounts restricted, at beginning of period	11,158	9,489
Cash and cash equivalents, including amounts restricted, at end of period	11,159	9,610
Supplemental Disclosures:
Leased assets obtained in exchange for operating lease liabilities	48	34
Ameriprise Financial
Supplemental Disclosures:
Interest paid excluding consolidated investment entities	228	306
Consolidated Investment Entities
Supplemental Disclosures:
Interest paid by consolidated investment entities	$ 88	$ 74

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Market risk benefits	$ 2,386	$ 2,274
Separate account assets	80,990	80,044
Deferred acquisition costs	2,606	2,625
Restricted and segregated cash and cash equivalents	911	1,055
Total assets	197,871	190,904
Liabilities:
Policyholder account balances, future policy benefits and claims	49,199	46,498
Market risk benefits	1,043	1,182
Separate account liabilities	80,990	80,044
Customer deposits	33,732	33,750
Short-term borrowings	200	200
Accounts payable and accrued expenses	2,897	2,982
Total liabilities	191,505	184,355
Equity:
Common shares ($0.01 par value; shares authorized, 1,250,000,000; shares issued, 338,335,282 and 338,058,287, respectively)	3	3
Additional paid-in capital	10,487	10,377
Retained earnings	29,380	27,662
Treasury shares, at cost (249,886,450 and 246,794,407 shares, respectively)	(32,228)	(30,601)
Accumulated other comprehensive income (loss), net of tax	(1,276)	(892)
Total equity	6,366	6,549
Total liabilities and equity	197,871	190,904
Ameriprise Financial
Assets
Cash and cash equivalents	10,135	9,953
Investments	59,649	58,406
Receivables	15,986	14,920
Other assets	22,557	18,829
Liabilities:
Short-term borrowings	200	200
Long-term debt	3,823	3,077
Other liabilities	17,025	13,878
Consolidated Investment Entities
Assets
Cash and cash equivalents	113	150
Investments	2,494	2,618
Receivables	44	30
Liabilities:
Long-term debt	2,509	2,585
Other liabilities	$ 87	$ 159