Ameriprise Financial, Inc. · NYSE:AMP
Ameriprise Financial — Q3 2019 Earnings Presentation
51 slides from Ameriprise Financial's earnings presentation, Oct 23, 2019
Slide 1: Statistical Supplement Package (unaudited) Third Quarter 2019
Statistical Supplement Package (unaudited) Third Quarter 2019 1 of 51
Slide 2: Statistical Supplement Information 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) Third Quarter 2019 Consolidated Results 3 of 51
Slide 4: Statistical Supplement Presentation
Ameriprise Financial, Inc. Statistical Supplement Presentation Third Quarter 2019 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 m
Slide 5: Consolidated GAAP Income Statements
Ameriprise Financial, Inc. Consolidated GAAP Income Statements Third Quarter 2019 Prior Year Comparisons (in millions, except per share amounts, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. %
Slide 6: Consolidated Adjusted Operating Results and Highlights
Ameriprise Financial, Inc. Consolidated Adjusted Operating Results and Highlights Third Quarter 2019 Prior Year Comparisons (in millions except per share amounts, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff.
Slide 7: Consolidated Adjusted Operating Results and Highlights
Ameriprise Financial, Inc. Consolidated Adjusted Operating Results and Highlights Third Quarter 2019 Prior Year Comparisons (in millions except per share amounts, headcount and where noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019
Slide 8: Common Share and Capital Summary
Ameriprise Financial, Inc. Common Share and Capital Summary Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Commo
Slide 9: Segment Results
Statistical Supplement Package (unaudited) Third Quarter 2019 Segment Results 9 of 51
Slide 10: Segment Summary
Ameriprise Financial, Inc. Segment Summary Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Segment Summary Advice
Slide 11: Advice & Wealth Management Segment
Statistical Supplement Package (unaudited) Third Quarter 2019 Advice & Wealth Management Segment 11 of 51
Slide 12: Advice & Wealth Management Segment
Ameriprise Financial, Inc. Advice & Wealth Management Segment Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Adv
Slide 13: Advice & Wealth Management Segment Metrics
Ameriprise Financial, Inc. Advice & Wealth Management Segment Third Quarter 2019 Prior Year Comparisons (in millions, except headcount and where noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. %
Slide 14: Asset Management Segment
Statistical Supplement Package (unaudited) Third Quarter 2019 Asset Management Segment 14 of 51
Slide 15: Asset Management Segment
Ameriprise Financial, Inc. Asset Management Segment Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Asset Managem
Slide 16: Asset Management Segment: Managed Assets by Type
Ameriprise Financial, Inc. Asset Management Segment Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Total Managed
Slide 17: Asset Management Segment: Managed Assets Rollforward
Ameriprise Financial, Inc. Asset Management Segment Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Managed Asset
Slide 18: Asset Management Segment - Columbia
Ameriprise Financial, Inc. Asset Management Segment - Columbia Third Quarter 2019 Mutual Fund Rankings in top 2 Lipper Quartiles 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 Domestic Equity Equal weighted 1 year 43 % 46 % 40 % 49 % 46 % 3 year 53 % 50 % 50 % 47 % 47 % 5 year 66 % 63 % 63 %
Slide 19: Asset Management Segment - Threadneedle
Ameriprise Financial, Inc. Asset Management Segment - Threadneedle Third Quarter 2019 Retail Fund Rankings in Top 2 Morningstar Quartiles or Above Index Benchmark 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 Equity Equal weighted 1 year 56 % 40 % 50 % 60 % 65 % 3 year 61 % 41 % 49 % 57 % 6
Slide 20: Annuities Segment
Statistical Supplement Package (unaudited) Third Quarter 2019 Annuities Segment 20 of 51
Slide 21: Annuities Segment
Ameriprise Financial, Inc. Annuities Segment Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Annuities Segment Ad
Slide 22: Annuities Segment
Ameriprise Financial, Inc. Annuities Segment Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Tax Equivalent Sprea
Slide 23: Protection Segment
Statistical Supplement Package (unaudited) Third Quarter 2019 Protection Segment 23 of 51
Slide 24: Protection Segment
Ameriprise Financial, Inc. Protection Segment Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Protection Segment
Slide 25: Protection Segment
Ameriprise Financial, Inc. Protection Segment Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Cash Sales VUL / UL
Slide 26: Corporate & Other Segment
Statistical Supplement Package (unaudited) Third Quarter 2019 Corporate & Other Segment 26 of 51
Slide 27: Corporate & Other Segment
Ameriprise Financial, Inc. Corporate & Other Segment Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Product Info
Slide 28: Eliminations
Ameriprise Financial, Inc. Eliminations (1) Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Eliminations Adjusted
Slide 29: Balance Sheet and Ratings Information
Statistical Supplement Package (unaudited) Third Quarter 2019 Balance Sheet and Ratings Information 29 of 51
Slide 30: Consolidated Balance Sheets
Ameriprise Financial, Inc. Consolidated Balance Sheets Third Quarter 2019 (in millions, unaudited) September 30, 2018 December 31, 2018 March 31, 2019 June 30, 2019 September 30, 2019 Assets Cash and cash equivalents $ 2,389 $ 2,931 $ 3,259 $ 4,302 $ 5,290 Cash of consolidated investment entities 89
Slide 31: Capital and Ratings Information
Ameriprise Financial, Inc. Capital and Ratings Information Third Quarter 2019 (in millions unless otherwise noted, unaudited) September 30, 2018 December 31, 2018 March 31, 2019 June 30, 2019 September 30, 2019 Long-term Debt Summary Senior notes $ 2,850 $ 2,850 $ 3,350 $ 3,050 $ 3,050 Finance Lease
Slide 32: Financial Investments
Ameriprise Financial, Inc. Ameriprise Financial Investments (1) Third Quarter 2019 (in millions unless otherwise noted, unaudited) September 30, 2018 December 31, 2018 March 31, 2019 June 30, 2019 September 30, 2019 Cash and cash equivalents $ 2,389 $ 2,931 $ 3,259 $ 4,302 $ 5,290 Investments - Endi
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) Third Quarter 2019 Disclosed Items 37 of 51
Slide 38: Disclosed Items
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 39: Disclosed Items
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 40: Disclosed Items
Ameriprise Financial, Inc. Disclosed Items 1 Qtr 2019 Excluded from Adjusted Operating Earnings Asset Management Annuities Protection Corporate and Eliminations Mean Reversion Market Impact on Mean Reversion Market Impact on Market Impact Securities Related Securities VA Guaranteed Related Securitie
Slide 41: Disclosed Items
Ameriprise Financial, Inc. Disclosed Items 4 Qtr 2018 Excluded from Adjusted Operating Earnings Advice & Wealth Annuities Protection Corporate and Eliminations Management Mean Reversion Market Impact on Market Impact on Mean Reversion Market Impact on Market Impact Securities Related Securities VA G
Slide 42: Disclosed Items
Ameriprise Financial, Inc. Disclosed Items 3 Qtr 2018 Excluded from Adjusted Operating Earnings Annuities Protection Corporate and Eliminations Mean Reversion Market Impact on Market Impact on Market Impact on Market Impact Related Securities VA Guaranteed Fixed Index Indexed Universal Securities of
Slide 43: Exhibit B: Corporate & Other Segment Details
Exhibit B Statistical Supplement Package (unaudited) Third Quarter 2019 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 Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Dif
Slide 45: Long Term Care
Ameriprise Financial, Inc. Long Term Care Third Quarter 2019 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff. % Long Term Care Adjusted
Slide 46: Exhibit C: Non-GAAP Financial Measure Reconciliations
Exhibit C Statistical Supplement Package (unaudited) Third Quarter 2019 Non-GAAP Financial Measure Reconciliations 46 of 51
Slide 47: Non-GAAP Financial Measure Reconciliations
Ameriprise Financial, Inc. Non-GAAP Financial Measure Reconciliations Third Quarter 2019 (in millions unless otherwise noted, unaudited) Year-to-date 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Return on Equity Net income (last twelve months) $ 1,736 $ 2,098 $ 1,899 $ 1,929 $ 1,
Slide 48: Non-GAAP Financial Measure Reconciliations
Ameriprise Financial, Inc. Non-GAAP Financial Measure Reconciliations Third Quarter 2019 (in millions unless otherwise noted, unaudited) September 30, 2018 December 31, 2018 March 31, 2019 June 30, 2019 September 30, 2019 Long-term Debt Summary Senior notes $ 2,850 $ 2,850 $ 3,350 $ 3,050 $ 3,050 Fi
Slide 49: Exhibit D: Revenue Detail by Product
Exhibit D Statistical Supplement Package (unaudited) Third Quarter 2019 Revenue Detail by Product 49 of 51
Slide 50: Advice & Wealth Management Segment Revenue From Contracts With Customers
Ameriprise Financial, Inc. Advice & Wealth Management Segment Revenue From Contracts With Customers Third Quarter 2019 Prior Year Comparisons (in millions, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff
Slide 51: Asset Management Segment Revenue From Contracts With Customers
Ameriprise Financial, Inc. Asset Management Segment Revenue From Contracts With Customers Third Quarter 2019 Prior Year Comparisons (in millions, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2018 4 Qtr 2018 1 Qtr 2019 2 Qtr 2019 3 Qtr 2019 2018 2019 Diff. % Diff. % Diff.