8-KEarnings & ResultsExhibits & Filings

AMERIPRISE FINANCIAL INC 8-K Report, Financial Results (Oct 28, 2020)

Filed October 28, 2020For Securities:AMP

Summary

Ameriprise Financial, Inc. (AMP) filed an 8-K on October 28, 2020, to report its financial results for the third quarter of 2020. 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 measures are intended to provide a clearer view of the underlying operational performance by excluding various items such as short-term interest rate impacts, performance fees, consolidation of certain investment entities, restructuring charges, and market impacts on insurance/annuity benefits and investments, among others. The company asserts that these adjusted figures facilitate a more meaningful trend analysis and better reflect core operations. Investors are encouraged to review both GAAP and non-GAAP figures to gain a comprehensive understanding of the company's financial health and performance.

Key Highlights

  • 1Ameriprise Financial announced its Q3 2020 financial results via an 8-K filing on October 28, 2020.
  • 2The filing includes a press release (Exhibit 99.1) and a Statistical Supplement (Exhibit 99.2) for the period ending September 30, 2020.
  • 3The company provided financial results on both GAAP and non-GAAP adjusted bases.
  • 4Non-GAAP measures are used to exclude items like short-term interest rate impacts, performance fees, and restructuring charges to better reflect core operations.
  • 5Management believes non-GAAP metrics offer a more meaningful trend analysis.
  • 6Specific non-GAAP metrics discussed include adjusted operating earnings, adjusted operating earnings per diluted share, and various capital and debt measures.
  • 7The filing also references iXBRL formatting for cover pages, indicating a move towards enhanced digital reporting.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Ameriprise Financial's financial results for the third quarter of 2020. It includes a press release and a statistical supplement detailing these results.

Ameriprise Financial presents non-GAAP results to offer a clearer view of its underlying operational performance. These measures exclude items that management believes can distort the trend analysis of core operations, such as impacts from short-term interest rates, performance fees, restructuring charges, and market fluctuations on certain financial instruments.

The non-GAAP measures exclude a variety of items, including the impact of short-term interest rates, performance fees, consolidation of certain investment entities, integration/restructuring charges, insurance and annuity valuation adjustments ('unlocking'), market impacts on variable annuity and fixed index annuity benefits, net realized investment gains/losses, and others. The company's press release and statistical supplement provide a detailed breakdown of these exclusions.

Investors can find the detailed financial results in Exhibit 99.1 (Press Release) and Exhibit 99.2 (Statistical Supplement) attached to this 8-K filing. These exhibits contain both GAAP and non-GAAP financial information.