Summary
Ameriprise Financial, Inc. (AMP) filed an 8-K on October 24, 2006, to report its third-quarter 2006 financial results. The filing primarily consists of a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) detailing these results. Investors should note that Ameriprise is providing financial information on both Generally Accepted Accounting Principles (GAAP) and non-GAAP adjusted bases. The non-GAAP measures are crucial for understanding the company's ongoing operational performance, as they exclude items related to the company's separation from American Express Company, including discontinued operations and separation costs, as well as the results of AMEX Assurance Company. Management utilizes these adjusted figures to assess performance, set goals, and compare results to industry analysts, making them important for a comprehensive view of the business's underlying health.
Key Highlights
- 1Ameriprise Financial reported its Q3 2006 financial results via an 8-K filing on October 24, 2006.
- 2The filing includes a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) for the quarter ended September 30, 2006.
- 3The company is presenting financial results on both GAAP and non-GAAP adjusted bases.
- 4Non-GAAP measures exclude items related to the separation from American Express Company, such as discontinued operations and separation costs.
- 5Results of AMEX Assurance Company are also excluded from non-GAAP adjusted figures.
- 6Management uses these non-GAAP measures to reflect underlying performance, facilitate trend analysis, and compare with analysts' expectations.
- 7The company also provides adjusted debt-to-capital ratios that exclude the impact of certain non-recourse debt and reflect equity credit for junior subordinated notes.