Summary
Ameriprise Financial, Inc. (AMP) filed an 8-K report on April 22, 2008, announcing its first-quarter 2008 financial results. The filing primarily serves to attach the company's earnings press release and a statistical supplement, both of which provide detailed financial information for the quarter ended March 31, 2008. Investors should note that AMP presents its financial results on both a Generally Accepted Accounting Principles (GAAP) basis and a non-GAAP adjusted basis. The non-GAAP adjustments are significant as they exclude costs directly related to the company's separation from American Express Company. Management utilizes these adjusted figures, which exclude separation costs, to better reflect underlying operational performance and facilitate trend analysis. Additionally, certain debt-to-capital ratios are presented excluding non-recourse debt from variable interest entities and property fund limited partnerships, as well as including equity credit for junior subordinated notes, to provide a clearer picture of the company's capital structure.
Key Highlights
- 1Ameriprise Financial reported its first-quarter 2008 financial results via an 8-K filing on April 22, 2008.
- 2The company is providing financial data on both GAAP and non-GAAP adjusted bases.
- 3Non-GAAP measures exclude significant separation costs related to the company's split from American Express.
- 4Management believes these non-GAAP measures offer a better reflection of underlying operational performance and facilitate trend analysis.
- 5Specific debt-to-capital ratios are presented excluding non-recourse debt from consolidated variable interest entities and certain property funds.
- 6Equity credit for junior subordinated notes is included in certain debt-to-capital ratio presentations.
- 7The filing includes the earnings press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) for the quarter ended March 31, 2008.