Summary
Ameriprise Financial, Inc. (AMP) filed an 8-K on February 2, 2011, to announce its financial results for the fourth quarter of 2010. The filing incorporates by reference a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) detailing these results. Investors should note that the company presents both Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. The non-GAAP measures are used to provide a clearer view of core operations by excluding the impact of consolidating certain investment entities, integration/restructuring charges, and realized gains/losses. Management believes these adjusted figures offer a more meaningful trend analysis and facilitate comparison with industry peers and analyst expectations. The company also highlights the use of specific non-GAAP measures for debt, capital, and shareholders' equity, which exclude items such as accumulated other comprehensive income (AOCI), non-recourse debt, fair value of hedges, and equity from certain investment entities. These adjustments are intended to better represent Ameriprise's capital structure and are used internally for performance evaluation, business planning, and compensation. Investors should carefully review both GAAP and non-GAAP figures to gain a comprehensive understanding of the company's financial condition and performance.
Key Highlights
- 1Ameriprise Financial reported its Q4 2010 financial results on February 2, 2011, via an 8-K filing.
- 2The filing includes a press release and a statistical supplement detailing the company's financial performance.
- 3The company utilizes both GAAP and non-GAAP financial reporting measures.
- 4Non-GAAP measures exclude the impact of consolidating certain investment entities (CIEs), integration/restructuring charges, and realized gains/losses to reflect core operations.
- 5Management uses these non-GAAP metrics to provide a more meaningful trend analysis and facilitate comparisons.
- 6Specific non-GAAP measures for debt, capital, and equity are presented, excluding items like AOCI, non-recourse debt, and fair value of hedges to reflect the capital structure.
- 7These non-GAAP measures are considered by management in evaluating financial performance, business planning, and compensation.