Ameriprise Financial, Inc. · NYSE:AMP
Ameriprise Financial — Q2 2020 Earnings Presentation
51 slides from Ameriprise Financial's earnings presentation, Jul 30, 2020
Slide 1: Statistical Supplement Package Second Quarter 2020
Statistical Supplement Package (unaudited) Second Quarter 2020 1 of 51
Slide 2: Table of Contents
Ameriprise Financial, Inc. Statistical Supplement Information Table of Contents Page Ameriprise Financial, Inc. Statistical Supplement Presentation............................................................................................................ 4 Consolidated GAAP Income Statements.......
Slide 3: Consolidated Results
Statistical Supplement Package (unaudited) Second Quarter 2020 Consolidated Results 3 of 51
Slide 4: Statistical Supplement Presentation
Ameriprise Financial, Inc. Statistical Supplement Presentation Second Quarter 2020 Ameriprise Financial, Inc. ("Ameriprise Financial" or "the Company") prepares its financial statements in accordance with generally accepted accounting principles ("GAAP"). Management believes that adjusted operating
Slide 5: Consolidated GAAP Income Statements
Ameriprise Financial, Inc. Consolidated GAAP Income Statements Second Quarter 2020 Prior Year Comparisons (in millions, except per share amounts, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff.
Slide 6: Consolidated Adjusted Operating Results and Highlights
Ameriprise Financial, Inc. Consolidated Adjusted Operating Results and Highlights Second Quarter 2020 Prior Year Comparisons (in millions except per share amounts, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff
Slide 7: Consolidated Adjusted Operating Results and Highlights
Ameriprise Financial, Inc. Consolidated Adjusted Operating Results and Highlights Second Quarter 2020 Prior Year Comparisons (in millions except per share amounts, headcount and where noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 202
Slide 8: Common Share and Capital Summary
Ameriprise Financial, Inc. Common Share and Capital Summary Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Comm
Slide 9: Segment Results
Statistical Supplement Package (unaudited) Second Quarter 2020 Segment Results 9 of 51
Slide 10: Segment Summary
Ameriprise Financial, Inc. Segment Summary Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Segment Summary Advic
Slide 11: Advice & Wealth Management Segment
Statistical Supplement Package (unaudited) Second Quarter 2020 Advice & Wealth Management Segment 11 of 51
Slide 12: Advice & Wealth Management Segment
Ameriprise Financial, Inc. Advice & Wealth Management Segment Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Ad
Slide 13: Advice & Wealth Management Segment Metrics
Ameriprise Financial, Inc. Advice & Wealth Management Segment Second Quarter 2020 Prior Year Comparisons (in millions, except headcount and where noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. %
Slide 14: Asset Management Segment
Statistical Supplement Package (unaudited) Second Quarter 2020 Asset Management Segment 14 of 51
Slide 15: Asset Management Segment
Ameriprise Financial, Inc. Asset Management Segment Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Asset Manage
Slide 16: Asset Management Segment Managed Assets
Ameriprise Financial, Inc. Asset Management Segment Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Total Manage
Slide 17: Asset Management Managed Assets Rollforward
Ameriprise Financial, Inc. Asset Management Segment Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Managed Asse
Slide 18: Asset Management Segment - Columbia
Ameriprise Financial, Inc. Asset Management Segment - Columbia Second Quarter 2020 Mutual Fund Rankings in top 2 Lipper Quartiles 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 Domestic Equity Equal weighted 1 year 49 % 46 % 59 % 53 % 65 % 3 year 47 % 47 % 55 % 50 % 56 % 5 year 56 % 56 % 48
Slide 19: Asset Management Segment - Threadneedle
Ameriprise Financial, Inc. Asset Management Segment - Threadneedle Second Quarter 2020 Retail Fund Rankings in Top 2 Morningstar Quartiles or Above Index Benchmark 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 Equity Equal weighted 1 year 60 % 65 % 87 % 79 % 80 % 3 year 57 % 64 % 77 % 71 %
Slide 20: Annuities Segment
Statistical Supplement Package (unaudited) Second Quarter 2020 Annuities Segment 20 of 51
Slide 21: Annuities Segment
Ameriprise Financial, Inc. Annuities Segment Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Annuities Segment A
Slide 22: Annuities Segment Product Information
Ameriprise Financial, Inc. Annuities Segment Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Product Information
Slide 23: Protection Segment
Statistical Supplement Package (unaudited) Second Quarter 2020 Protection Segment 23 of 51
Slide 24: Protection Segment
Ameriprise Financial, Inc. Protection Segment Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Protection Segment
Slide 25: Protection Segment Cash Sales and Balances
Ameriprise Financial, Inc. Protection Segment Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Cash Sales VUL / U
Slide 26: Corporate & Other Segment
Statistical Supplement Package (unaudited) Second Quarter 2020 Corporate & Other Segment 26 of 51
Slide 27: Corporate & Other Segment
Ameriprise Financial, Inc. Corporate & Other Segment Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Product Inf
Slide 28: Eliminations
Ameriprise Financial, Inc. Eliminations (1) Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Eliminations Adjuste
Slide 29: Balance Sheet and Ratings Information
Statistical Supplement Package (unaudited) Second Quarter 2020 Balance Sheet and Ratings Information 29 of 51
Slide 30: Consolidated Balance Sheets
Ameriprise Financial, Inc. Consolidated Balance Sheets Second Quarter 2020 (in millions, unaudited) June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2020 June 30, 2020 Assets Cash and cash equivalents $ 4,302 $ 5,290 $ 3,709 $ 8,730 $ 7,654 Cash of consolidated investment entities 59 102
Slide 31: Capital and Ratings Information
Ameriprise Financial, Inc. Capital and Ratings Information Second Quarter 2020 (in millions unless otherwise noted, unaudited) June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2020 June 30, 2020 Long-term Debt Summary Senior notes (1) $ 3,050 $ 3,050 $ 3,050 $ 2,300 $ 2,800 Finance Lease
Slide 32: Financial Investments
Ameriprise Financial, Inc. Ameriprise Financial Investments (1) Second Quarter 2020 (in millions unless otherwise noted, unaudited) June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2020 June 30, 2020 Cash and cash equivalents $ 4,302 $ 5,290 $ 3,709 $ 8,730 $ 7,654 Investments - Ending B
Slide 33: Non-GAAP Financial Information
Ameriprise Financial, Inc. Non-GAAP Financial Information Ameriprise Financial, Inc. (the Company) prepares its financial statements in accordance with accounting principles generally accepted in the United States (U.S. GAAP). This report includes information on both a U.S. GAAP and non-GAAP basis.
Slide 34: Glossary of Selected Terminology - Segments
Ameriprise Financial, Inc. Glossary of Selected Terminology - Segments Advice & Wealth Management - This segment provides financial planning and advice, as well as full service brokerage services, primarily to retail clients through our advisors. These services are centered on long-term, personal re
Slide 35: Glossary of Selected Terminology
Ameriprise Financial, Inc. Glossary of Selected Terminology Adjusted Operating Earnings - Net income attributable to Ameriprise Financial excluding the impact of CIEs, net of tax; integration and restructuring charges, net of tax; the market impact on variable annuity guaranteed benefits, net of hed
Slide 36: Glossary of Selected Terminology
Ameriprise Financial, Inc. Glossary of Selected Terminology Market Impact on Fixed Index Annuity Benefits - The impact of changes in financial market conditions on benefit costs associated with fixed index annuity benefits accounted for as embedded derivatives, net of changes in associated economic
Slide 37: Exhibit A Disclosed Items
Exhibit A Statistical Supplement Package (unaudited) Second Quarter 2020 Disclosed Items 37 of 51
Slide 38: Disclosed Items Qtr 2020
Ameriprise Financial, Inc. Disclosed Items 2 Qtr 2020 Excluded from Adjusted Operating Earnings Advice & Wealth Asset Management Annuities Protection Corporate and Eliminations Management Market Impact on VA Mean Reversion Market Impact on Guaranteed Benefits Mean Reversion Market Impact on Integrat
Slide 39: Disclosed Items Qtr 2020
Ameriprise Financial, Inc. Disclosed Items 1 Qtr 2020 Excluded from Adjusted Operating Earnings Advice & Wealth Asset Management Annuities Protection Corporate and Eliminations Management Market Impact on VA Mean Reversion Market Impact on Guaranteed Benefits Mean Reversion Market Impact on Securiti
Slide 40: Disclosed Items Qtr 2019
Ameriprise Financial, Inc. Disclosed Items 4 Qtr 2019 Excluded from Adjusted Operating Earnings Annuities Protection Corporate and Eliminations Mean Reversion Market Impact on Mean Reversion Market Impact on Gain on Market Impact Related VA Guaranteed Securities Related Securities Indexed Universal
Slide 41: Disclosed Items Qtr 2019
Ameriprise Financial, Inc. Disclosed Items 3 Qtr 2019 Excluded from Adjusted Operating Earnings Annuities Protection Corporate and Eliminations Mean Reversion Market Impact on Market Impact on Mean Reversion Market Impact on Market Impact Related Fixed Index VA Guaranteed Securities Related Securiti
Slide 42: Disclosed Items Qtr 2019
Ameriprise Financial, Inc. Disclosed Items 2 Qtr 2019 Excluded from Adjusted Operating Earnings Annuities Protection Corporate and Eliminations Mean Reversion Market Impact on Market Impact on Mean Reversion Market Impact on Market Impact Related Fixed Index VA Guaranteed Related Securities Indexed
Slide 43: Exhibit B Corporate & Other Segment Details
Exhibit B Statistical Supplement Package (unaudited) Second Quarter 2020 Corporate & Other Segment Details 43 of 51
Slide 44: Corporate Excluding Long Term Care and Auto & Home
Ameriprise Financial, Inc. Corporate Excluding Long Term Care and Auto & Home Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Di
Slide 45: Long Term Care
Ameriprise Financial, Inc. Long Term Care Second Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Long Term Care Adjuste
Slide 46: Exhibit C Non-GAAP Financial Measure Reconciliations
Exhibit C Statistical Supplement Package (unaudited) Second Quarter 2020 Non-GAAP Financial Measure Reconciliations 46 of 51
Slide 47: Non-GAAP Financial Measure Reconciliations
Ameriprise Financial, Inc. Non-GAAP Financial Measure Reconciliations Second Quarter 2020 (in millions unless otherwise noted, unaudited) Year-to-date 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Return on Equity Net income (last twelve months) $ 1,929 $ 1,969 $ 1,893 $ 3,534 $ 2
Slide 48: Non-GAAP Financial Measure Reconciliations
Ameriprise Financial, Inc. Non-GAAP Financial Measure Reconciliations Second Quarter 2020 (in millions unless otherwise noted, unaudited) June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2020 June 30, 2020 Long-term Debt Summary Senior notes (1) $ 3,050 $ 3,050 $ 3,050 $ 2,300 $ 2,800 Fi
Slide 49: Exhibit D Revenue Detail by Product
Exhibit D Statistical Supplement Package (unaudited) Second Quarter 2020 Revenue Detail by Product 49 of 51
Slide 50: Advice & Wealth Management Revenue From Contracts With Customers
Ameriprise Financial, Inc. Advice & Wealth Management Segment Revenue From Contracts With Customers Second Quarter 2020 Prior Year Comparisons (in millions, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Dif
Slide 51: Asset Management Revenue From Contracts With Customers
Ameriprise Financial, Inc. Asset Management Segment Revenue From Contracts With Customers Second Quarter 2020 Prior Year Comparisons (in millions, unaudited) Year-to-Date Qtr Chg - 2Q YTD Chg - 2Q Seq Qtr Chg - 2Q 2 Qtr 2019 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 2019 2020 Diff. % Diff. % Diff.