Summary
Ameriprise Financial, Inc. (AMP) filed an 8-K on October 25, 2016, to report its financial results for the third quarter of 2016. The filing primarily serves as an announcement of these results, incorporating by reference a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2). Investors should note that the company presents its financial information on both Generally Accepted Accounting Principles (GAAP) and non-GAAP adjusted bases. The non-GAAP measures are utilized to provide a clearer view of the company's core operations and performance trends by excluding items such as the impact of consolidating certain investment entities, restructuring charges, and market-related adjustments on insurance and annuity products. Management believes these adjusted figures offer a more meaningful analysis for investors and are used internally for performance evaluation and compensation. Investors are encouraged to review both the GAAP and non-GAAP figures provided in the exhibits to gain a comprehensive understanding of Ameriprise's financial condition and operational performance during the third quarter of 2016.
Key Highlights
- 1Ameriprise Financial announced its third quarter 2016 financial results via an 8-K filing.
- 2The company utilizes both GAAP and non-GAAP financial reporting to present its results.
- 3Non-GAAP measures are employed to provide a clearer view of underlying core operational performance.
- 4Key exclusions for non-GAAP adjustments include consolidating certain investment entities (CIEs), restructuring charges, and market impacts on insurance/annuity products.
- 5Management believes non-GAAP measures facilitate better trend analysis and reflect core business performance.
- 6The filing includes a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) with detailed financial information.