Summary
Ameriprise Financial, Inc. (AMP) filed an 8-K on April 21, 2009, to report its financial results for the first quarter of 2009. The filing primarily references a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) which detail these results. Investors should note that the company is presenting both Generally Accepted Accounting Principles (GAAP) and non-GAAP adjusted financial measures. The non-GAAP measures are intended to provide a clearer view of underlying operational performance by excluding items such as after-tax market-related impacts and integration charges, which management believes are important for trend analysis and comparability with analyst expectations.
Key Highlights
- 1Ameriprise Financial announced its first quarter 2009 financial results on April 21, 2009.
- 2The company is providing both GAAP and non-GAAP financial information to investors.
- 3Non-GAAP measures exclude specific items like market-related impacts and integration charges.
- 4Management believes non-GAAP figures offer a better reflection of underlying operational performance and facilitate trend analysis.
- 5Key non-GAAP metrics include 'core operating earnings' and adjusted pretax segment income.
- 6The filing also details specific adjustments made to debt-to-capital ratios, excluding certain non-recourse debt and incorporating equity credit for junior subordinated notes.
Frequently Asked Questions
The primary purpose of this 8-K filing is to report Ameriprise Financial's financial results for the first quarter of 2009. It directs investors to accompanying exhibits for detailed financial information.
Ameriprise is presenting non-GAAP financial measures because management believes they provide a more meaningful representation of the company's underlying operational performance. These measures exclude certain items such as market-related impacts and integration charges that can fluctuate and obscure trend analysis.
The referenced exhibits, specifically the press release (Exhibit 99.1) and the statistical supplement (Exhibit 99.2), contain detailed financial results for the first quarter of 2009, including both GAAP and non-GAAP adjusted figures, core operating earnings, segment performance, and capital structure information.
The company's debt-to-capital ratios are presented with certain adjustments. They exclude the effect of non-recourse debt related to collateralized debt obligations and property fund limited partnerships. Additionally, they reflect an equity credit for junior subordinated notes, which is considered by rating agencies.