Ameriprise Financial, Inc. · NYSE:AMP
Ameriprise Financial — Q3 2020 Earnings Presentation
50 slides from Ameriprise Financial's earnings presentation, Oct 28, 2020
Slide 1: Statistical Supplement Package (unaudited) Third Quarter 2020
Statistical Supplement Package (unaudited) Third Quarter 2020 1 of 50
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 2020 Consolidated Results 3 of 50
Slide 4: Statistical Supplement Presentation
Ameriprise Financial, Inc. Statistical Supplement Presentation Third 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 m
Slide 5: Consolidated GAAP Income Statements
Ameriprise Financial, Inc. Consolidated GAAP Income Statements Third Quarter 2020 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 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. %
Slide 6: Consolidated Adjusted Operating Results and Highlights
Ameriprise Financial, Inc. Consolidated Adjusted Operating Results and Highlights Third Quarter 2020 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 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff.
Slide 7: Consolidated Adjusted Operating Results and Highlights
Ameriprise Financial, Inc. Consolidated Adjusted Operating Results and Highlights Third Quarter 2020 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 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020
Slide 8: Common Share and Capital Summary
Ameriprise Financial, Inc. Common Share and Capital Summary Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Commo
Slide 9: Segment Results
Statistical Supplement Package (unaudited) Third Quarter 2020 Segment Results 9 of 50
Slide 10: Segment Summary
Ameriprise Financial, Inc. Segment Summary Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Segment Summary Advice
Slide 11: Advice & Wealth Management Segment
Statistical Supplement Package (unaudited) Third Quarter 2020 Advice & Wealth Management Segment 11 of 50
Slide 12: Advice & Wealth Management Segment
Ameriprise Financial, Inc. Advice & Wealth Management Segment Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Adv
Slide 13: Advice & Wealth Management Segment Metrics
Ameriprise Financial, Inc. Advice & Wealth Management Segment Third Quarter 2020 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 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. %
Slide 14: Asset Management Segment
Statistical Supplement Package (unaudited) Third Quarter 2020 Asset Management Segment 14 of 50
Slide 15: Asset Management Segment
Ameriprise Financial, Inc. Asset Management Segment Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Asset Managem
Slide 16: Asset Management Segment: Managed Assets by Type
Ameriprise Financial, Inc. Asset Management Segment Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Total Managed
Slide 17: Asset Management Segment: Managed Assets Rollforward
Ameriprise Financial, Inc. Asset Management Segment Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Managed Asset
Slide 18: Asset Management Segment - Columbia
Ameriprise Financial, Inc. Asset Management Segment - Columbia Third Quarter 2020 Mutual Fund Rankings in top 2 Lipper Quartiles 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 Domestic Equity Equal weighted 1 year 46 % 59 % 53 % 65 % 71 % 3 year 47 % 55 % 50 % 56 % 61 % 5 year 56 % 48 % 58 %
Slide 19: Asset Management Segment - Threadneedle
Ameriprise Financial, Inc. Asset Management Segment - Threadneedle Third Quarter 2020 Retail Fund Rankings in Top 2 Morningstar Quartiles or Above Index Benchmark 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 Equity Equal weighted 1 year 65 % 87 % 79 % 80 % 78 % 3 year 64 % 77 % 71 % 71 % 7
Slide 20: Retirement & Protection Solutions Segment
Statistical Supplement Package (unaudited) Third Quarter 2020 Retirement & Protection Solutions Segment 20 of 50
Slide 21: Retirement & Protection Solutions Segment
Ameriprise Financial, Inc. Retirement & Protection Solutions Segment Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff
Slide 22: Retirement & Protection Solutions Segment: Variable Annuities Rollforward
Ameriprise Financial, Inc. Retirement & Protection Solutions Segment Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff
Slide 23: Retirement & Protection Solutions Segment: DAC Rollforward
Ameriprise Financial, Inc. Retirement & Protection Solutions Segment Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff
Slide 24: Corporate & Other Segment
Statistical Supplement Package (unaudited) Third Quarter 2020 Corporate & Other Segment 24 of 50
Slide 25: Corporate & Other Segment
Ameriprise Financial, Inc. Corporate & Other Segment Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Product Info
Slide 26: Eliminations
Ameriprise Financial, Inc. Eliminations (1) Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Eliminations Adjusted
Slide 27: Balance Sheet and Ratings Information
Statistical Supplement Package (unaudited) Third Quarter 2020 Balance Sheet and Ratings Information 27 of 50
Slide 28: Consolidated Balance Sheets
Ameriprise Financial, Inc. Consolidated Balance Sheets Third Quarter 2020 (in millions, unaudited) September 30, 2019 December 31, 2019 March 31, 2020 June 30, 2020 September 30, 2020 Assets Cash and cash equivalents $ 5,290 $ 3,709 $ 8,730 $ 7,654 $ 7,441 Cash of consolidated investment entities 10
Slide 29: Capital and Ratings Information
Ameriprise Financial, Inc. Capital and Ratings Information Third Quarter 2020 (in millions unless otherwise noted, unaudited) September 30, 2019 December 31, 2019 March 31, 2020 June 30, 2020 September 30, 2020 Long-term Debt Summary Senior notes (1) $ 3,050 $ 3,050 $ 2,300 $ 2, 800 $ 2, 800 Finance
Slide 30: Financial Investments
Ameriprise Financial, Inc. Ameriprise Financial Investments (1) Third Quarter 2020 (in millions unless otherwise noted, unaudited) September 30, 2019 December 31, 2019 March 31, 2020 June 30, 2020 September 30, 2020 Cash and cash equivalents $ 5,290 $ 3,709 $ 8,730 $ 7,654 $ 7,441 Investments - Endi
Slide 31: 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 32: 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 33: 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 34: 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 35: Exhibit A: Disclosed Items
Exhibit A Statistical Supplement Package (unaudited) Third Quarter 2020 Disclosed Items 35 of 50
Slide 36: Disclosed Items
Ameriprise Financial, Inc. Disclosed Items 3 Qtr 2020 Excluded from Adjusted Operating Earnings Advice & Wealth Retirement & Protection Solutions Corporate and Eliminations Management Market Impact on VA Mean Reversion Guaranteed Benefits Market Impact on Integration/ Securities Securities Related &
Slide 37: Disclosed Items
Ameriprise Financial, Inc. Disclosed Items 2 Qtr 2020 Excluded from Adjusted Operating Earnings Advice & Wealth Asset Management Retirement & Protection Solutions Corporate and Eliminations Management Market Impact on VA Mean Reversion Guaranteed Benefits Market Impact on Market Impact on Integratio
Slide 38: Disclosed Items
Ameriprise Financial, Inc. Disclosed Items 1 Qtr 2020 Excluded from Adjusted Operating Earnings Advice & Wealth Asset Management Retirement & Protection Solutions Corporate and Eliminations Management Market Impact on VA Mean Reversion Guaranteed Benefits Market Impact on Market Impact on Securities
Slide 39: Disclosed Items
Ameriprise Financial, Inc. Disclosed Items 4 Qtr 2019 Excluded from Adjusted Operating Earnings Retirement & Protection Solutions Corporate and Eliminations Mean Reversion Market Impact on Market Impact on Gain on Market Impact Related VA Guaranteed Securities Indexed Universal the Disposal Securiti
Slide 40: Disclosed Items
Ameriprise Financial, Inc. Disclosed Items 3 Qtr 2019 Excluded from Adjusted Operating Earnings Retirement & Protection Solutions Corporate and Eliminations Mean Reversion Market Impact on Market Impact on Market Impact on Market Impact Related VA Guaranteed Securities Indexed Universal Fixed Index
Slide 41: Exhibit B: Corporate & Other Segment Details
Exhibit B Statistical Supplement Package (unaudited) Third Quarter 2020 Corporate & Other Segment Details 41 of 50
Slide 42: Corporate Excluding LTC, FA and Auto & Home
Ameriprise Financial, Inc. Corporate Excluding LTC, FA and Auto & Home Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Di
Slide 43: Corporate Segment - Long Term Care
Ameriprise Financial, Inc. Corporate Segment - Long Term Care Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Lon
Slide 44: Corporate Segment - Fixed Annuities
Ameriprise Financial, Inc. Corporate Segment - Fixed Annuities Third Quarter 2020 Prior Year Comparisons (in millions unless otherwise noted, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff. % Fi
Slide 45: Exhibit C: Non-GAAP Financial Measure Reconciliations
Exhibit C Statistical Supplement Package (unaudited) Third Quarter 2020 Non-GAAP Financial Measure Reconciliations 45 of 50
Slide 46: Non-GAAP Financial Measure Reconciliations
Ameriprise Financial, Inc. Non-GAAP Financial Measure Reconciliations Third Quarter 2020 (in millions unless otherwise noted, unaudited) Year-to-date 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Return on Equity Net income (last twelve months) $ 1,969 $ 1,893 $ 3,534 $ 2,503 $ 1,
Slide 47: Non-GAAP Financial Measure Reconciliations
Ameriprise Financial, Inc. Non-GAAP Financial Measure Reconciliations Third Quarter 2020 (in millions unless otherwise noted, unaudited) September 30, 2019 December 31, 2019 March 31, 2020 June 30, 2020 September 30, 2020 Long-term Debt Summary Senior notes (1) $ 3,050 $ 3,050 $ 2,300 $ 2,800 $ 2,80
Slide 48: Exhibit D: Revenue Detail by Product
Exhibit D Statistical Supplement Package (unaudited) Third Quarter 2020 Revenue Detail by Product 48 of 50
Slide 49: Advice & Wealth Management Segment Revenue From Contracts With Customers
Ameriprise Financial, Inc. Advice & Wealth Management Segment Revenue From Contracts With Customers Third Quarter 2020 Prior Year Comparisons (in millions, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff
Slide 50: Asset Management Segment Revenue From Contracts With Customers
Ameriprise Financial, Inc. Asset Management Segment Revenue From Contracts With Customers Third Quarter 2020 Prior Year Comparisons (in millions, unaudited) Year-to-Date Qtr Chg - 3Q YTD Chg - 3Q Seq Qtr Chg - 3Q 3 Qtr 2019 4 Qtr 2019 1 Qtr 2020 2 Qtr 2020 3 Qtr 2020 2019 2020 Diff. % Diff. % Diff.