Summary
Ameriprise Financial, Inc. (AMP) filed an 8-K on July 25, 2012, to report its financial results for the second quarter of 2012. The filing primarily consists of a press release and a statistical supplement detailing these results. Investors should note that the company presents its financial information on both a Generally Accepted Accounting Principles (GAAP) basis and a non-GAAP adjusted basis. The non-GAAP adjustments are used to exclude the impact of consolidating certain investment entities (CIEs), integration/restructuring charges, market impacts on variable annuity guaranteed living benefits, and realized gains/losses from discontinued operations. Management utilizes these non-GAAP measures to provide a clearer view of the company's core operations and facilitate trend analysis, and these adjusted figures are often considered by analysts and investors when evaluating performance. The filing also details specific non-GAAP measures for debt, capital, and equity, which exclude items like accumulated other comprehensive income (loss) and the fair value of hedges.
Key Highlights
- 1Ameriprise Financial reported its Q2 2012 financial results via an 8-K filing on July 25, 2012.
- 2The company issued a press release (Exhibit 99.1) and a Statistical Supplement (Exhibit 99.2) detailing the results.
- 3Financial results are presented on both GAAP and non-GAAP adjusted bases.
- 4Non-GAAP adjustments exclude items such as consolidating certain investment entities (CIEs), restructuring charges, and market impacts on variable annuity benefits.
- 5Management believes non-GAAP measures better reflect core operations and facilitate trend analysis.
- 6Specific non-GAAP metrics are provided for debt, capital, and shareholders' equity, excluding items like AOCI and fair value of hedges.