8-KAcquisitions & DispositionsExhibits & Filings

AMERIPRISE FINANCIAL INC 8-K Report, Acquisition Completed (Feb 1, 2017)

Filed February 1, 2017For Securities:AMP

Summary

Ameriprise Financial, Inc. (AMP) filed an 8-K on February 1, 2017, to announce its fourth-quarter 2016 financial results. The filing incorporates by reference a press release (Exhibit 99.1) and a statistical supplement (Exhibit 99.2) detailing these results. A significant aspect of this report is the Company's use of non-GAAP financial measures. AMP explicitly states its rationale for providing these adjusted figures, which exclude items such as consolidating certain investment entities (CIEs), integration/restructuring charges, the impact of annual assumption reviews ('unlocking'), market impacts on variable annuity and indexed universal life benefits, hedging impacts, net realized investment gains/losses, and discontinued operations. Management believes these non-GAAP metrics offer a clearer view of the underlying performance of its core operations and facilitate better trend analysis for investors.

Key Highlights

  • 1Ameriprise Financial announced its Q4 2016 financial results via an 8-K filing on February 1, 2017.
  • 2The report includes both a press release and a statistical supplement detailing financial performance for the quarter ended December 31, 2016.
  • 3The company extensively utilizes and presents non-GAAP financial measures to highlight core operational performance.
  • 4Excluded items from GAAP to arrive at non-GAAP figures include consolidating investment entities (CIEs), restructuring charges, and assumption updates ('unlocking').
  • 5Non-GAAP measures also exclude market impacts on guarantees, hedging, investment gains/losses, and discontinued operations.
  • 6Management asserts that these non-GAAP presentations provide a more meaningful analysis of trends and underlying business performance.
  • 7The filing also details non-GAAP adjustments to debt, capital, and equity measures to better reflect the company's capital structure.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Ameriprise Financial's financial results for the fourth quarter of 2016 and to provide supporting documentation, including a press release and a statistical supplement.

Ameriprise Financial presents non-GAAP financial measures because management believes they better reflect the underlying performance of the company's core operations and facilitate a more meaningful trend analysis for investors. These measures exclude certain items that can distort period-over-period comparisons.

Key items excluded from GAAP to calculate non-GAAP results include the impact of consolidating certain investment entities (CIEs), integration/restructuring charges, the impact of annual reviews of insurance and annuity valuation assumptions ('unlocking'), market impacts on guaranteed benefits, hedging impacts, and net realized investment gains or losses.

Investors can find the detailed financial results in Exhibit 99.1 (the press release) and Exhibit 99.2 (the statistical supplement) attached to this Form 8-K filing.