Summary
Ameriprise Financial, Inc. filed an 8-K on January 25, 2007, to report its fourth-quarter 2006 financial results. The filing includes a press release and a statistical supplement detailing these results, adhering to Generally Accepted Accounting Principles (GAAP). Significantly, the company also provided non-GAAP adjusted figures that exclude items related to its separation from American Express Company, such as discontinued operations, AMEX Assurance, and non-recurring separation costs. Management utilizes these non-GAAP measures to better reflect the performance of ongoing operations and for comparison with industry analysts. The report also details specific adjustments made to debt-to-capital ratios, excluding certain nonrecourse debt and incorporating equity credit for junior subordinated notes.
Key Highlights
- 1Ameriprise Financial announced its fourth-quarter 2006 financial results via an 8-K filing on January 25, 2007.
- 2The filing incorporates a press release (Exhibit 99.1) and a Statistical Supplement (Exhibit 99.2) for the period ended December 31, 2006.
- 3The company presents financial results on both a GAAP and non-GAAP adjusted basis.
- 4Non-GAAP measures are adjusted to exclude the impact of discontinued operations, AMEX Assurance, and separation costs from American Express.
- 5Management uses these non-GAAP figures to assess ongoing operational performance and for comparability with industry analysts.
- 6The report also outlines adjustments to debt-to-capital ratios, excluding certain nonrecourse debt.
- 7Equity credit for junior subordinated notes issued in May 2006 is also considered in capital structure presentations.