Summary
Ameriprise Financial, Inc. filed an 8-K on April 24, 2007, to report its first quarter 2007 financial results. The filing includes a press release and a statistical supplement, both of which present financial data on both Generally Accepted Accounting Principles (GAAP) and non-GAAP adjusted bases. The non-GAAP adjustments primarily exclude costs associated with the company's separation from American Express Company, which management uses to assess the underlying performance of ongoing operations. Investors should note that the company is providing adjusted figures that remove these separation costs, aiming to offer a clearer view of operational trends. Additionally, Ameriprise is presenting debt-to-capital ratios that exclude certain nonrecourse debt related to variable interest entities and property funds, as well as providing information that reflects equity credit on its junior subordinated notes. This indicates a focus on presenting financial metrics that management believes best represent the company's financial health and operational performance.
Key Highlights
- 1Ameriprise Financial reported its first quarter 2007 financial results via an 8-K filing on April 24, 2007.
- 2The company presented financial results using both GAAP and non-GAAP adjusted measures.
- 3Non-GAAP adjustments primarily removed costs related to the separation from American Express.
- 4Management uses non-GAAP measures to provide a clearer view of ongoing operational performance and trend analysis.
- 5Specific nonrecourse debt is excluded from debt-to-capital ratio calculations to better reflect the company's capital structure.
- 6Equity credit on junior subordinated notes issued in May 2006 is reflected in some debt-to-capital ratio presentations.
- 7The filing includes a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) for the quarter ended March 31, 2007.