Summary
Ameriprise Financial, Inc. (AMP) filed an 8-K on April 25, 2011, to report its financial results for the first quarter of 2011. The filing primarily consists of a press release and a statistical supplement announcing these results. Investors should note that the company provides financial information on both Generally Accepted Accounting Principles (GAAP) and non-GAAP adjusted bases. The non-GAAP measures are used by management to offer a clearer view of the company's core operations by excluding items such as the impact of consolidating certain investment entities (CIEs), integration/restructuring charges, market impacts on variable annuity guarantees, realized gains/losses, and specific legal expenses. Management believes these adjusted figures provide a more meaningful trend analysis and are used for business planning and compensation. This report directs investors to the attached exhibits for detailed financial performance and capital structure metrics.
Key Highlights
- 1Ameriprise Financial announced its first quarter 2011 financial results via an 8-K filing on April 25, 2011.
- 2The company utilizes both GAAP and non-GAAP financial reporting measures.
- 3Non-GAAP measures are presented to exclude specific items like consolidated investment entities (CIEs), restructuring charges, and market impacts on certain guarantees.
- 4Management believes non-GAAP figures better reflect underlying core operations and facilitate trend analysis.
- 5Key non-GAAP metrics include adjusted operating earnings, adjusted revenues, and various capital structure measures.
- 6The filing incorporates by reference a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) for detailed financial information.
- 7The Chief Financial Officer, Walter S. Berman, signed the report.