Summary
Ameriprise Financial, Inc. (AMP) filed this Form 8-K on January 28, 2009, to report its financial results for the fourth quarter of 2008. The filing includes a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) detailing these results. Investors should note that the company presents its financial information on both a GAAP and a non-GAAP adjusted basis. The non-GAAP measures are utilized by management to provide a clearer view of the company's underlying operational performance by excluding items such as after-tax market-related impacts, integration and restructuring charges, and separation costs related to the spin-off from American Express. The company also provides specific definitions and rationale for these adjusted metrics, which they believe facilitate more meaningful trend analysis and are used for performance evaluation and compensation purposes.
Key Highlights
- 1Ameriprise Financial announced its Q4 2008 financial results via an 8-K filing on January 28, 2009.
- 2The report includes a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) for the quarter ended December 31, 2008.
- 3The company reports financial results using both Generally Accepted Accounting Principles (GAAP) and non-GAAP adjusted measures.
- 4Non-GAAP measures are used to exclude specific items impacting the bottom line, such as market-related impacts, integration/restructuring charges, and separation costs from American Express.
- 5Management believes these non-GAAP measures provide a better reflection of the company's underlying operational performance and facilitate trend analysis.
- 6Key non-GAAP metrics mentioned include core operating earnings, investment gains/losses, credit market losses, and various charges, all on an after-tax basis.
- 7The filing also details specific adjustments made to debt-to-capital ratios, excluding certain non-recourse debt and including equity credit for junior subordinated notes.