Ameriprise Financial Reports First Quarter2026 Results
MINNEAPOLIS–(BUSINESS WIRE)–
Ameriprise Financial, Inc. (NYSE: AMP):
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Earnings Per Diluted Share |
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Return on Equity, ex AOCI (1) |
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Q1 2026 |
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Q1 2026 |
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GAAP |
$9.68 |
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GAAP |
53.3% |
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Adjusted Operating |
$11.26 |
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Adjusted Operating |
54.3% |
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Raised Quarterly Dividend 6 Percent
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Perspective from Jim Cracchiolo, Chairman and Chief Executive Officer |
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“Ameriprise delivered a strong start to the year, with significant revenue and earnings growth driven by the durability of our business and consistent execution of our strategy.
In an environment of heightened market volatility and uncertainty, clients remain highly engaged and well-served by our personalized advice, expert investment perspective and broad product range.
We continue to invest across the business with a clear long-term focus – further enhancing our strong client experience, solutions, technology and AI capabilities.
Our capital strength remains a clear differentiator. During the quarter, we returned 88% of operating earnings to shareholders and today announced an additional 6% increase in our quarterly dividend, further reinforcing our confidence in the business and strong track record of generating shareholder value.”
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(1) Return on equity excluding AOCI is calculated on a trailing 12-month basis. |
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Ameriprise Financial, Inc. |
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First Quarter Summary |
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Quarter Ended March 31, |
% Better/ (Worse) |
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(in millions, except per share amounts, unaudited) |
2026 |
2025 |
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|||||
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GAAP net income |
$ |
915 |
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$ |
583 |
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57% |
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Adjusted operating earnings |
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(see reconciliation on p. 24) |
$ |
1,064 |
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$ |
950 |
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12% |
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GAAP net income per diluted share |
$ |
9.68 |
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$ |
5.83 |
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66% |
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Adjusted operating earnings per diluted share |
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(see reconciliation on p. 24) |
$ |
11.26 |
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$ |
9.50 |
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19% |
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GAAP Return on Equity, ex. AOCI |
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53.3 |
% |
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43.2 |
% |
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Adjusted Operating Return on Equity, ex. AOCI |
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(see reconciliation on p. 26) |
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54.3 |
% |
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52.0 |
% |
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Weighted average common shares outstanding: |
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Basic |
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93.3 |
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98.5 |
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Diluted |
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94.5 |
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100.0 |
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First quarter 2026 GAAP results included unfavorable market impacts on the valuation of derivatives and market risk benefits, while the prior-year quarter included larger unfavorable market impacts on the valuation of derivatives and market risk benefits.
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Ameriprise Financial, Inc. |
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Advice & Wealth Management Segment Adjusted Operating Results |
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Quarter Ended March 31, |
% Better/ (Worse) |
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(in millions, unaudited) |
2026 |
2025 |
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Adjusted operating net revenues |
$ |
3,175 |
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$ |
2,782 |
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14% |
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|
|
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Distribution expenses |
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1,770 |
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1,554 |
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(14)% |
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Interest and debt expense |
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15 |
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12 |
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(25)% |
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General and administrative expenses |
|
439 |
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|
424 |
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(4)% |
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Adjusted operating expenses |
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2,224 |
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|
1,990 |
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(12)% |
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Pretax adjusted operating earnings |
$ |
951 |
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$ |
792 |
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20% |
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Pretax adjusted operating margin |
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30.0 |
% |
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28.5 |
% |
150 bps |
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Quarter Ended March 31, |
% Better/ (Worse) |
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(in billions, unless otherwise noted) |
2026 |
|
2025 |
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Total client assets |
$ |
1,149 |
|
$ |
1,023 |
12% |
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Total client net flows |
$ |
4.2 |
|
$ |
10.3 |
(59)% |
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Wrap assets |
$ |
664 |
|
$ |
573 |
16% |
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Wrap net flows |
$ |
6.0 |
|
$ |
8.7 |
(31)% |
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Cash sweep balances |
$ |
29.4 |
|
$ |
28.6 |
3% |
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Adjusted operating net revenue per advisor (TTM in thousands) |
$ |
1,160 |
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$ |
1,056 |
10% |
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Advice & Wealth Management generated strong performance with pretax adjusted operating earnings of $951 million, up 20 percent, with a margin of 30.0 percent. Pretax adjusted operating earnings included a $25 million benefit due to the termination of the Comerica Bank relationship. Core distribution earnings increased in the mid-30 percent range, excluding the benefit from Comerica, resulting from strong operating fundamentals, while spread earnings were essentially flat.
Adjusted operating net revenues increased 14 percent to $3.2 billion reflecting strong client engagement in holistic financial planning and advice relationships. Wrap net inflows and market appreciation contributed to growth in fee-based revenues, while increased sales of annuity products and brokerage transactions drove strong transactional activity.
Adjusted operating expenses increased 12 percent to $2.2 billion, primarily driven by distribution expenses. General and administrative expenses increased $15 million to $439 million, primarily driven by volume-related expenses and investments for growth.
The company delivered strong asset growth and higher advisor productivity, reflecting the strength of the Ameriprise client experience and the company’s focus on industry-leading tools, solutions and support.
- Adjusted operating net revenue per advisor on a trailing 12-month basis reached a new high of $1.2 million, up 10 percent. The company added 61 experienced advisors in the quarter.
- Total client assets grew $126 billion, or 12 percent, to $1.1 trillion and wrap assets increased $91 billion, or 16 percent, to $664 billion driven by organic growth and advisor productivity in a higher but more volatile market environment.
- Client flows were $4.2 billion and wrap flows were $6.0 billion in the quarter. This reflected strong underlying organic activity, partially offset by elevated advisor departures, including an acceleration of Comerica advisors.
- Transactional activity increased 10 percent compared to the prior year.
- Cash sweep balances were stable at $29.4 billion compared to $29.9 billion in the prior quarter, reflecting normal seasonal patterns.
- Bank assets increased 6 percent to $25.5 billion, with bank earnings increasing in the mid-single digits percent.
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Ameriprise Financial, Inc. |
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Asset Management Segment Adjusted Operating Results |
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Quarter Ended March 31, |
% Better/ (Worse) |
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(in millions, unaudited) |
2026 |
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2025 |
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Adjusted operating net revenues |
$ |
910 |
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$ |
846 |
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8% |
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Distribution expenses |
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262 |
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246 |
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(7)% |
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Amortization of deferred acquisition costs |
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2 |
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2 |
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—% |
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Interest and debt expense |
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4 |
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3 |
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(33)% |
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General and administrative expenses |
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369 |
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354 |
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(4)% |
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Adjusted operating expenses |
|
637 |
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|
605 |
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(5)% |
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Pretax adjusted operating earnings |
$ |
273 |
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$ |
241 |
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13% |
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Net pretax adjusted operating margin (1) |
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43.8 |
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% |
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42.7 |
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% |
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Quarter Ended March 31, |
% Better/ (Worse) |
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(in billions) |
2026 |
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2025 |
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Assets Under Management and Advisement (2) |
$ |
706 |
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$ |
657 |
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8% |
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Net Flows |
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Global Retail net AUM flows, ex. legacy insurance partners |
$ |
(4.2 |
) |
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$ |
(5.8 |
) |
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28% |
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Model delivery AUA flows (2) |
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0.3 |
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|
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— |
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—% |
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Total retail net AUM flows and model delivery AUA flows (2) |
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(3.9 |
) |
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(5.8 |
) |
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33% |
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Global Institutional net AUM flows, ex. legacy insurance partners |
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(1.2 |
) |
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(11.5 |
) |
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90% |
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Legacy insurance partners AUM flows |
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(0.8 |
) |
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(1.0 |
) |
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14% |
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Total Net AUM and AUA flows (2) |
$ |
(5.9 |
) |
|
$ |
(18.3 |
) |
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68% |
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(1) See reconciliation on page 13. |
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(2) Model Delivery Assets Under Advisement are presented on a one-quarter lag. Flows are estimated based on the period-to-period change in assets less calculated performance based on strategy returns. |
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Asset Management adjusted operating net revenues were $910 million. Pretax adjusted operating earnings increased 13 percent to $273 million reflecting asset growth and the positive impact from expense management actions. Net pretax adjusted operating margin increased to 44 percent. The underlying fee rate remained stable.
Adjusted operating expenses increased 5 percent. General and administrative expenses increased 4 percent driven by volume-related expenses and an unfavorable foreign exchange impact.
Assets under management and advisement increased 8 percent to $706 billion. Investment performance remained strong, most notably with more than 70 percent of retail funds above median versus peers on an asset-weighted basis across 1-, 3- and 5-year periods and 85 percent for the 10-year period. In addition, 95 Columbia Threadneedle funds globally earned four- or five-star ratings from Morningstar.
Net outflows were $5.9 billion, reflecting an improvement in both retail and institutional channels.
- Retail and model delivery net outflows improved to $3.9 billion, primarily reflecting higher gross sales in the U.S.
- Institutional net outflows improved to $1.2 billion. Stronger gross sales in the quarter included notable wins in Japan equity and liability-driven investment strategies.
- Outflows related to legacy insurance partners were $0.8 billion.
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Ameriprise Financial, Inc. |
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Retirement & Protection Solutions Segment Adjusted Operating Results |
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|
Quarter Ended March 31, |
% Better/ (Worse) |
||||
|
(in millions, unaudited) |
2026 |
|
2025 |
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Adjusted operating net revenues |
$ |
952 |
|
$ |
926 |
3% |
|
Adjusted operating expenses |
|
762 |
|
|
711 |
(7)% |
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Pretax adjusted operating earnings |
$ |
190 |
|
$ |
215 |
(12)% |
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Retirement & Protection Solutions pretax adjusted operating earnings were $190 million, reflecting higher distribution expenses associated with strong sales levels and continued outflows from variable annuities with living benefits, partially offset by higher average equity markets. We continue to expect earnings to be in our target range over time.
Retirement & Protection Solutions sales increased 10 percent to $1.3 billion, with continued strong client demand for structured variable annuities, variable annuities without living benefit riders and variable universal life insurance.
These high-quality books of business continued to generate strong free cash flow with excellent risk-adjusted returns and are an important contributor to our diversified business model.
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Ameriprise Financial, Inc. |
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Corporate & Other Segment Adjusted Operating Results |
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Quarter Ended March 31, |
% Better/ (Worse) |
||||||
|
(in millions, unaudited) |
|
2026 |
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|
|
2025 |
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Corporate & Other |
$ |
(79 |
) |
|
$ |
(103 |
) |
23% |
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Closed Blocks (1) |
|
(2 |
) |
|
|
6 |
|
NM |
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Pretax adjusted operating earnings/(loss) |
$ |
(81 |
) |
|
$ |
(97 |
) |
16% |
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Long Term Care |
$ |
7 |
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$ |
14 |
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(50)% |
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Fixed Annuities |
|
(9 |
) |
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(8 |
) |
(13)% |
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Pretax adjusted operating earnings/(loss) |
$ |
(2 |
) |
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$ |
6 |
|
NM |
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(1) Long Term Care and Fixed Annuities. |
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NM Not Meaningful – variance equal to or greater than 100% |
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Corporate & Other, excluding Closed Blocks pretax adjusted operating loss was $79 million.
Long Term Care pretax adjusted operating earnings were $7 million in the quarter, a continuation of a solid performance trend.
Fixed Annuities pretax adjusted operating loss was $9 million.
Taxes
The operating effective tax rate was 20.2 percent for the first quarter. The operating effective tax rate is expected to be 20 to 22 percent for the full year 2026.
About Ameriprise Financial
At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 130 years. With extensive investment advice, global asset management capabilities and insurance solutions, and a nationwide network of more than 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors’ financial needs.
Ameriprise Financial Services, LLC offers financial planning services, investments, insurance and annuity products. Columbia Funds are distributed by Columbia Management Investment Distributors, Inc., member FINRA and managed by Columbia Management Investment Advisers, LLC. Threadneedle International Limited, Columbia Threadneedle Asset Managers Limited, Columbia Threadneedle (EM) Investments Limited, and Pyrford International Ltd, are SEC- and FCA-registered investment adviser affiliates of Columbia Management Investment Advisers, LLC based in the U.K. RiverSource insurance and annuity products are issued by RiverSource Life Insurance Company, and in New York only by RiverSource Life Insurance Co. of New York, Albany, New York. Only RiverSource Life Insurance Co. of New York is authorized to sell insurance and annuity products in the state of New York. These companies are part of Ameriprise Financial, Inc. CA License #0684538. RiverSource Distributors, Inc. (Distributor), Member FINRA.
Non-GAAP Financial Measures
The company believes the presentation of adjusted operating measures and other non-GAAP financial measures, and the corresponding ratios, best represents the underlying performance of our core operations and facilitates a more meaningful trend analysis without the distortion of various adjustment items. Management uses non-GAAP financial measures to evaluate our financial performance on a basis comparable to that used by some securities analysts and investors and to provide a valuable perspective for investors. These non-GAAP financial measures are taken into consideration, to varying degrees, for purposes of business planning and analysis and for certain compensation-related matters. Non-GAAP financial measures are intended to supplement investors’ understanding of our performance and should not be considered alternatives for financial measures presented in accordance with GAAP. These measures are discussed in more detail below and may not be comparable to other companies’ similarly titled non-GAAP financial measures. Non-GAAP financial measure reconciliations can be found on the subsequent pages.
Forward-Looking Statements
This news release contains forward-looking statements that reflect management’s plans, estimates and beliefs. Actual results could differ materially from those described in these forward-looking statements. Examples of such forward-looking statements include:
- statements of the company’s plans, intentions, positioning, expectations, objectives or goals, including those relating to asset flows, mass affluent and affluent client acquisition strategy, client retention and growth of our client base, financial advisor productivity, retention, recruiting and enrollments, the introduction, cessation, terms or pricing of new or existing products and services, general and administrative costs, net pretax adjusted operating margin, consolidated tax rate, return of capital to shareholders, and excess capital position and financial flexibility to capture additional growth opportunities;
- other statements about future economic performance, the performance of equity markets and interest rate forecasts or variations, and the economic performance of the United States and of global markets; and
- statements regarding the expected earnings for our Retirement and Protection Solutions segment;
- statements estimating the expected full year 2026 operating effective tax rate; and
- statements of assumptions underlying such statements.
The words “believe,” “expect,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” “forecast,” “on track,” “project,” ”continue,” “able to remain”, “resume,” “deliver,” “develop,” “evolve,” “drive,” ”enable,” “flexibility,” “commitment,” “scenario,” “case,” “appear,” “expands” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from such statements.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Management cautions readers to carefully consider the risks described in the “Risk Factors” discussion under Part 1, Item 1A of and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2025 available at ir.ameriprise.com. Management undertakes no obligation to update publicly or revise any forward-looking statements.
The financial results discussed in this news release represent past performance only, which may not be used to predict or project future results. The financial results and values presented in this news release are based upon asset valuations that represent estimates as of the date of this news release and may be revised in the company’s Form 10-Q for the period ended March 31, 2026.
Ameriprise Financial announces financial and other information to investors through the company’s investor relations website at ir.ameriprise.com, as well as SEC filings, press releases, public conference calls and webcasts. Investors and others interested in the company are encouraged to visit the investor relations website from time to time, as information is updated and new information is posted. The website also allows users to sign up for automatic notifications in the event new materials are posted. The information found on the website is not incorporated by reference into this release or in any other report or document the company furnishes or files with the SEC.
Credential Sources
JD Power 2026 U.S. Investor Satisfaction StudySM recognition is based on feedback provided by investors, including 399 Ameriprise Financial clients, about their primary wealth management firm. Data was collected January 2025 through January 2026, resulting in 7,982 completed surveys overall among advised investors. Ameriprise Financial ranked third among advised investors in overall satisfaction. This ranking is not indicative of future performance or representative of any one client’s experience, which may vary. Ameriprise did not pay a fee to be evaluated but did pay a fee to review and publicly cite the results. For more information: https://www.jdpower.com/business/investor-satisfaction-study.
Barron’s: March 2, 2026
Barron’s Best Fund Families Methodology Barron’s evaluates fund families based on the asset‑weighted returns of their actively managed funds relative to peers in their respective Lipper categories. Key components of the methodology include:
- Each fund’s performance is ranked within its LSEG Lipper category on a percentile basis.
- Rankings are asset‑weighted relative to the fund family’s other assets in its general classification, meaning larger funds have a proportionally greater impact on a firm’s overall score.
- Excluded from consideration are index funds, but actively managed ETFs and so-called smart-beta ETFs, which are passively managed but created from active strategies, are included.
- Finally, the score is multiplied by the weighting of its general classification, as determined by the Lipper universe of funds.
To qualify, a firm must offer a minimum number of funds across equity and fixed income categories.
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Ameriprise Financial, Inc. |
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|
Consolidated GAAP Results |
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|
(in millions, except per share amounts, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
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Revenues |
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|
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|
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|
Management and financial advice fees |
$ |
2,944 |
|
|
$ |
2,602 |
|
13% |
$ |
3,096 |
(5)% |
|
Distribution fees |
|
563 |
|
|
|
522 |
|
8% |
|
554 |
2% |
|
Net investment income |
|
872 |
|
|
|
868 |
|
—% |
|
891 |
(2)% |
|
Premiums, policy and contract charges |
|
341 |
|
|
|
360 |
|
(5)% |
|
373 |
(9)% |
|
Other revenues |
|
166 |
|
|
|
129 |
|
29% |
|
133 |
25% |
|
Total revenues |
|
4,886 |
|
|
|
4,481 |
|
9% |
|
5,047 |
(3)% |
|
Banking and deposit interest expense |
|
74 |
|
|
|
127 |
|
42% |
|
87 |
15% |
|
Total net revenues |
|
4,812 |
|
|
|
4,354 |
|
11% |
|
4,960 |
(3)% |
|
|
|
|
|
|
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|
|||||
|
Expenses |
|
|
|
|
|
|
|||||
|
Distribution expenses |
|
1,773 |
|
|
|
1,612 |
|
(10)% |
|
1,819 |
3% |
|
Interest credited to fixed accounts |
|
142 |
|
|
|
130 |
|
(9)% |
|
109 |
(30)% |
|
Benefits, claims, losses and settlement expenses |
|
317 |
|
|
|
381 |
|
17% |
|
322 |
2% |
|
Remeasurement (gains) losses of future policy benefit reserves |
|
(1 |
) |
|
|
(10 |
) |
(90)% |
|
1 |
NM |
|
Change in fair value of market risk benefits |
|
378 |
|
|
|
497 |
|
24% |
|
215 |
(76)% |
|
Amortization of deferred acquisition costs |
|
61 |
|
|
|
61 |
|
—% |
|
61 |
—% |
|
Interest and debt expense |
|
80 |
|
|
|
80 |
|
—% |
|
80 |
—% |
|
General and administrative expense |
|
918 |
|
|
|
916 |
|
—% |
|
1,061 |
13% |
|
Total expenses |
|
3,668 |
|
|
|
3,667 |
|
—% |
|
3,668 |
—% |
|
|
|
|
|
|
|
|
|||||
|
Pretax income |
|
1,144 |
|
|
|
687 |
|
67% |
|
1,292 |
(11)% |
|
Income tax provision |
|
229 |
|
|
|
104 |
|
NM |
|
284 |
19% |
|
Net income |
$ |
915 |
|
|
$ |
583 |
|
57% |
$ |
1,008 |
(9)% |
|
|
|
|
|
|
|
|
|||||
|
Earnings per share |
|
|
|
|
|
|
|||||
|
Basic earnings per share |
$ |
9.81 |
|
|
$ |
5.92 |
|
|
$ |
10.63 |
|
|
Earnings per diluted share |
$ |
9.68 |
|
|
$ |
5.83 |
|
|
$ |
10.47 |
|
|
|
|
|
|
|
|
|
|||||
|
Weighted average common shares outstanding |
|
|
|
|
|
|
|||||
|
Basic |
|
93.3 |
|
|
|
98.5 |
|
|
|
94.8 |
|
|
Diluted |
|
94.5 |
|
|
|
100.0 |
|
|
|
96.3 |
|
|
|
|
|
|
|
|
|
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|
NM Not Meaningful – variance equal to or greater than 100% |
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|
Ameriprise Financial, Inc. |
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|
Consolidated Highlights and Capital Summary |
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|
(in millions unless otherwise noted, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Assets Under Management, Administration and Advisement |
||||||||||||
|
Advice & Wealth Management AUM |
$ |
660,620 |
|
|
$ |
569,137 |
|
16% |
$ |
666,437 |
|
(1)% |
|
Asset Management AUM |
|
661,622 |
|
|
|
621,378 |
|
6% |
|
678,105 |
|
(2)% |
|
Corporate AUM |
|
1,011 |
|
|
|
595 |
|
70% |
|
906 |
|
12% |
|
Eliminations |
|
(45,931 |
) |
|
|
(44,170 |
) |
(4)% |
|
(47,630 |
) |
4% |
|
Assets Under Management |
|
1,277,322 |
|
|
|
1,146,940 |
|
11% |
|
1,297,818 |
|
(2)% |
|
Assets Under Administration |
|
348,708 |
|
|
|
314,055 |
|
11% |
|
355,503 |
|
(2)% |
|
Assets Under Advisement (net of eliminations) (1) |
|
42,176 |
|
|
|
33,665 |
|
25% |
|
40,830 |
|
3% |
|
Total Assets Under Management, Administration and Advisement |
$ |
1,668,206 |
|
|
$ |
1,494,660 |
|
12% |
$ |
1,694,151 |
|
(2)% |
|
|
|
|
|
|
|
|
||||||
|
S&P 500 |
|
|
|
|
|
|
||||||
|
Daily average |
|
6,816 |
|
|
|
5,899 |
|
16% |
|
6,776 |
|
1% |
|
Period end |
|
6,529 |
|
|
|
5,612 |
|
16% |
|
6,846 |
|
(5)% |
|
|
|
|
|
|
|
|
||||||
|
Weighted Equity Index (WEI) (2) |
|
|
|
|
|
|
||||||
|
Daily average |
|
4,343 |
|
|
|
3,713 |
|
17% |
|
4,265 |
|
2% |
|
Period end |
|
4,157 |
|
|
|
3,554 |
|
17% |
|
4,317 |
|
(4)% |
|
|
|
|
|
|
|
|
||||||
|
Common shares |
|
|
|
|
|
|
||||||
|
Beginning balance |
|
91.3 |
|
|
|
96.2 |
|
(5)% |
|
93.1 |
|
(2)% |
|
Repurchases |
|
(1.6 |
) |
|
|
(1.2 |
) |
(33)% |
|
(1.8 |
) |
11% |
|
Issuances |
|
0.6 |
|
|
|
0.8 |
|
(25)% |
|
— |
|
—% |
|
Other |
|
(0.2 |
) |
|
|
(0.3 |
) |
33% |
|
— |
|
—% |
|
Total common shares outstanding |
|
90.1 |
|
|
|
95.5 |
|
(6)% |
|
91.3 |
|
(1)% |
|
Restricted stock units |
|
2.3 |
|
|
|
2.4 |
|
(4)% |
|
2.4 |
|
(4)% |
|
Total basic common shares outstanding |
|
92.4 |
|
|
|
97.9 |
|
(6)% |
|
93.7 |
|
(1)% |
|
Total potentially dilutive shares |
|
1.1 |
|
|
|
1.5 |
|
(27)% |
|
1.5 |
|
(27)% |
|
Total diluted shares |
|
93.5 |
|
|
|
99.4 |
|
(6)% |
|
95.2 |
|
(2)% |
|
|
|
|
|
|
|
|
||||||
|
Capital Returned to Shareholders |
|
|
|
|
|
|
||||||
|
Dividends paid |
$ |
152 |
|
|
$ |
148 |
|
3% |
$ |
153 |
|
(1)% |
|
Common stock share repurchases |
|
784 |
|
|
|
617 |
|
27% |
|
897 |
|
(13)% |
|
Total Capital Returned to Shareholders |
$ |
936 |
|
|
$ |
765 |
|
22% |
$ |
1,050 |
|
(11)% |
|
|
|
|
|
|
|
|
||||||
|
(1) Assets reported on a one quarter lag. |
||||||||||||
|
(2) Weighted Equity Index is an Ameriprise calculated proxy for equity market movements calculated using a weighted average of the S&P 500, Russell 2000, Russell Midcap and MSCI EAFE indices based on North America distributed equity assets. |
||||||||||||
|
Ameriprise Financial, Inc. |
||||||||||||
|
Advice & Wealth Management Segment Adjusted Operating Results |
||||||||||||
|
(in millions, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Revenues |
|
|
|
|
|
|
||||||
|
Management and financial advice fees: |
|
|
|
|
|
|
||||||
|
Advisory fees |
$ |
1,797 |
|
|
$ |
1,515 |
|
19% |
$ |
1,785 |
|
1% |
|
Financial planning fees |
|
115 |
|
|
|
110 |
|
5% |
|
146 |
|
(21)% |
|
Transaction and other fees |
|
99 |
|
|
|
94 |
|
5% |
|
98 |
|
1% |
|
Total management and financial advice fees |
|
2,011 |
|
|
|
1,719 |
|
17% |
|
2,029 |
|
(1)% |
|
Distribution fees: |
|
|
|
|
|
|
||||||
|
Mutual funds |
|
237 |
|
|
|
214 |
|
11% |
|
237 |
|
—% |
|
Insurance and annuity |
|
260 |
|
|
|
243 |
|
7% |
|
275 |
|
(5)% |
|
Off-Balance sheet brokerage cash |
|
26 |
|
|
|
36 |
|
(28)% |
|
20 |
|
30% |
|
Other products |
|
141 |
|
|
|
120 |
|
18% |
|
130 |
|
8% |
|
Total distribution fees |
|
664 |
|
|
|
613 |
|
8% |
|
662 |
|
—% |
|
Net investment income |
|
455 |
|
|
|
500 |
|
(9)% |
|
475 |
|
(4)% |
|
Other revenues |
|
119 |
|
|
|
77 |
|
55% |
|
83 |
|
43% |
|
Total revenues |
|
3,249 |
|
|
|
2,909 |
|
12% |
|
3,249 |
|
—% |
|
Banking and deposit interest expense |
|
74 |
|
|
|
127 |
|
42% |
|
87 |
|
15% |
|
Adjusted operating total net revenues |
|
3,175 |
|
|
|
2,782 |
|
14% |
|
3,162 |
|
—% |
|
|
|
|
|
|
|
|
||||||
|
Expenses |
|
|
|
|
|
|
||||||
|
Distribution expenses |
|
1,770 |
|
|
|
1,554 |
|
(14)% |
|
1,757 |
|
(1)% |
|
Interest and debt expense |
|
15 |
|
|
|
12 |
|
(25)% |
|
15 |
|
—% |
|
General and administrative expense |
|
439 |
|
|
|
424 |
|
(4)% |
|
464 |
|
5% |
|
Adjusted operating expenses |
|
2,224 |
|
|
|
1,990 |
|
(12)% |
|
2,236 |
|
1% |
|
Pretax adjusted operating earnings |
$ |
951 |
|
|
$ |
792 |
|
20% |
$ |
926 |
|
3% |
|
|
|
|
|
|
|
|
||||||
|
Pretax adjusted operating margin |
|
30.0 |
% |
|
|
28.5 |
% |
|
|
29.3 |
% |
|
|
|
|
|
|
|
|
|
||||||
|
Ameriprise Financial, Inc. |
||||||||||||
|
Advice & Wealth Management Segment Operating Metrics |
||||||||||||
|
(in millions unless otherwise noted, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
AWM Total Client Assets |
$ |
1,148,514 |
|
|
$ |
1,022,520 |
|
12% |
$ |
1,165,367 |
|
(1)% |
|
|
|
|
|
|
|
|
||||||
|
Total Client Flows |
$ |
4,226 |
|
|
$ |
10,275 |
|
(59)% |
$ |
13,335 |
|
(68)% |
|
|
|
|
|
|
|
|
||||||
|
Total Wrap Accounts |
|
|
|
|
|
|
||||||
|
Beginning assets |
$ |
670,361 |
|
|
$ |
573,881 |
|
17% |
$ |
650,302 |
|
3% |
|
Net flows |
|
6,016 |
|
|
|
8,724 |
|
(31)% |
|
12,052 |
|
(50)% |
|
Market appreciation (depreciation) and other |
|
(12,210 |
) |
|
|
(9,834 |
) |
(24)% |
|
8,007 |
|
NM |
|
Total wrap ending assets |
$ |
664,167 |
|
|
$ |
572,771 |
|
16% |
$ |
670,361 |
|
(1)% |
|
|
|
|
|
|
|
|
||||||
|
Advisory wrap account assets ending balance (1) |
$ |
658,620 |
|
|
$ |
567,371 |
|
16% |
$ |
664,427 |
|
(1)% |
|
|
|
|
|
|
|
|
||||||
|
AWM Cash Balances |
|
|
|
|
|
|
||||||
|
On-balance sheet (Net Investment Income) |
|
|
|
|
|
|
||||||
|
On-balance sheet – bank |
$ |
23,768 |
|
|
$ |
22,669 |
|
5% |
$ |
23,663 |
|
—% |
|
On-balance sheet – certificate |
|
7,556 |
|
|
|
10,685 |
|
(29)% |
|
8,155 |
|
(7)% |
|
On-balance sheet – broker dealer |
|
1,966 |
|
|
|
2,308 |
|
(15)% |
|
1,948 |
|
1% |
|
Total on-balance sheet |
|
33,290 |
|
|
|
35,662 |
|
(7)% |
|
33,766 |
|
(1)% |
|
Off-balance sheet (Distribution Fees) |
|
|
|
|
|
|
||||||
|
Off-balance sheet – broker dealer |
|
4,669 |
|
|
|
4,344 |
|
7% |
|
5,147 |
|
(9)% |
|
Total AWM Cash Balances |
$ |
37,959 |
|
|
$ |
40,006 |
|
(5)% |
$ |
38,913 |
|
(2)% |
|
|
|
|
|
|
|
|
||||||
|
Bank – Net Investment Income |
|
|
|
|
|
|
||||||
|
Average interest-bearing assets |
$ |
25,238 |
|
|
$ |
24,176 |
|
4% |
$ |
24,663 |
|
2% |
|
Gross fee yield (2) |
|
4.61 |
% |
|
|
4.68 |
% |
|
|
4.61 |
% |
|
|
|
|
|
|
|
|
|
||||||
|
Certificates – Net Investment Income |
|
|
|
|
|
|
||||||
|
Average interest-bearing assets |
$ |
8,354 |
|
|
$ |
11,746 |
|
(29)% |
$ |
9,087 |
|
(8)% |
|
Gross fee yield (2) |
|
4.67 |
% |
|
|
5.11 |
% |
|
|
4.83 |
% |
|
|
|
|
|
|
|
|
|
||||||
|
Other – Net Investment Income |
|
|
|
|
|
|
||||||
|
Average interest-bearing assets |
$ |
5,610 |
|
|
$ |
5,205 |
|
8% |
$ |
5,371 |
|
4% |
|
Gross fee yield (2) |
|
5.28 |
% |
|
|
5.82 |
% |
|
|
5.72 |
% |
|
|
|
|
|
|
|
|
|
||||||
|
Off-balance sheet – broker dealer – Distribution Fees |
|
|
|
|
|
|
||||||
|
Average balances |
$ |
4,665 |
|
|
$ |
5,151 |
|
(9)% |
$ |
3,580 |
|
30% |
|
Net fee yield |
|
2.28 |
% |
|
|
2.81 |
% |
|
|
2.28 |
% |
|
|
|
|
|
|
|
|
|
||||||
|
(1) Advisory wrap account assets represent those assets for which clients receive advisory services and are the primary driver of revenue earned on wrap accounts. Clients may hold non-advisory investments in their wrap accounts that do not incur an advisory fee. |
||||||||||||
|
(2) Gross fee yield is calculated using amortized cost of investments. |
||||||||||||
|
NM Not Meaningful – variance equal to or greater than 100% |
||||||||||||
|
Ameriprise Financial, Inc. |
||||||||||||
|
Asset Management Segment Adjusted Operating Results |
||||||||||||
|
(in millions, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Revenues |
|
|
|
|
|
|
||||||
|
Management and financial advice fees: |
|
|
|
|
|
|
||||||
|
Asset management fees: |
|
|
|
|
|
|
||||||
|
Retail |
$ |
563 |
|
|
$ |
530 |
|
6% |
$ |
568 |
|
(1)% |
|
Institutional |
|
145 |
|
|
|
134 |
|
8% |
|
266 |
|
(45)% |
|
Model delivery |
|
27 |
|
|
|
22 |
|
23% |
|
26 |
|
4% |
|
Transaction and other fees |
|
53 |
|
|
|
50 |
|
6% |
|
54 |
|
(2)% |
|
Revenue from other sources (1) |
|
2 |
|
|
|
4 |
|
(50)% |
|
3 |
|
(33)% |
|
Total management and financial advice fees |
|
790 |
|
|
|
740 |
|
7% |
|
917 |
|
(14)% |
|
Distribution fees: |
|
|||||||||||
|
Mutual funds |
|
61 |
|
|
|
55 |
|
11% |
|
61 |
|
—% |
|
Insurance and annuity |
|
39 |
|
|
|
39 |
|
—% |
|
40 |
|
(3)% |
|
Total distribution fees |
|
100 |
|
|
|
94 |
|
6% |
|
101 |
|
(1)% |
|
Net investment income |
|
14 |
|
|
|
5 |
|
NM |
|
15 |
|
(7)% |
|
Other revenues |
|
6 |
|
|
|
7 |
|
(14)% |
|
6 |
|
—% |
|
Total revenues |
|
910 |
|
|
|
846 |
|
8% |
|
1,039 |
|
(12)% |
|
Banking and deposit interest expense |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Adjusted operating total net revenues |
|
910 |
|
|
|
846 |
|
8% |
|
1,039 |
|
(12)% |
|
|
|
|
|
|
|
|
||||||
|
Expenses |
|
|
|
|
|
|
||||||
|
Distribution expenses |
|
262 |
|
|
|
246 |
|
(7)% |
|
265 |
|
1% |
|
Amortization of deferred acquisition costs |
|
2 |
|
|
|
2 |
|
—% |
|
2 |
|
—% |
|
Interest and debt expense |
|
4 |
|
|
|
3 |
|
(33)% |
|
3 |
|
(33)% |
|
General and administrative expense |
|
369 |
|
|
|
354 |
|
(4)% |
|
476 |
|
22% |
|
Adjusted operating expenses |
|
637 |
|
|
|
605 |
|
(5)% |
|
746 |
|
15% |
|
Pretax adjusted operating earnings |
$ |
273 |
|
|
$ |
241 |
|
13% |
$ |
293 |
|
(7)% |
|
|
|
|
|
|
|
|
||||||
|
Net Pretax Adjusted Operating Margin Reconciliation |
|
|
|
|
|
|||||||
|
Adjusted operating total net revenues |
$ |
910 |
|
|
$ |
846 |
|
8% |
$ |
1,039 |
|
(12)% |
|
Distribution pass through revenues |
|
(206 |
) |
|
|
(195 |
) |
(6)% |
|
(208 |
) |
1% |
|
Subadvisory and other pass through revenues |
|
(103 |
) |
|
|
(91 |
) |
(13)% |
|
(106 |
) |
3% |
|
Net adjusted operating revenues |
|
601 |
|
|
|
560 |
|
7% |
|
725 |
|
(17)% |
|
|
|
|
|
|
|
|
||||||
|
Pretax adjusted operating earnings |
$ |
273 |
|
|
$ |
241 |
|
13% |
$ |
293 |
|
(7)% |
|
Adjusted operating net investment income |
|
(14 |
) |
|
|
(5 |
) |
NM |
|
(15 |
) |
7% |
|
Amortization of intangibles |
|
4 |
|
|
|
3 |
|
33% |
|
15 |
|
(73)% |
|
Net adjusted operating earnings |
$ |
263 |
|
|
$ |
239 |
|
10% |
$ |
293 |
|
(10)% |
|
|
|
|
|
|
|
|
||||||
|
Pretax adjusted operating margin |
|
30.0 |
% |
|
|
28.5 |
% |
|
|
28.2 |
% |
|
|
Net pretax adjusted operating margin (2) |
|
43.8 |
% |
|
|
42.7 |
% |
|
|
40.4 |
% |
|
|
|
|
|
|
|
|
|
||||||
|
Total Performance fees (3) |
|
|
|
|
|
|
||||||
|
Performance fees |
$ |
4 |
|
|
$ |
1 |
|
NM |
$ |
120 |
|
(97)% |
|
General and administrative expense related to performance fees |
|
— |
|
|
|
— |
|
—% |
|
77 |
|
NM |
|
Net performance fees |
$ |
4 |
|
|
$ |
1 |
|
NM |
$ |
43 |
|
(91)% |
|
|
|
|
|
|
|
|
||||||
|
(1) Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards. |
||||||||||||
|
(2) Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues. |
||||||||||||
|
(3) Performance fees do not include CLO incentive fees. |
||||||||||||
|
NM Not Meaningful – variance equal to or greater than 100%
|
||||||||||||
|
Ameriprise Financial, Inc. |
||||||||||||
|
Asset Management Segment Operating Metrics |
||||||||||||
|
(in millions, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Managed Assets Rollforward |
|
|
|
|
|
|
||||||
|
Global Retail Funds |
|
|
|
|
|
|
||||||
|
Beginning assets |
$ |
378,023 |
|
|
$ |
352,737 |
|
7% |
$ |
378,306 |
|
—% |
|
Inflows |
|
17,088 |
|
|
|
14,966 |
|
14% |
|
13,585 |
|
26% |
|
Outflows |
|
(20,721 |
) |
|
|
(20,079 |
) |
(3)% |
|
(19,733 |
) |
(5)% |
|
Net VP/VIT fund flows |
|
(1,772 |
) |
|
|
(1,646 |
) |
(8)% |
|
(1,824 |
) |
3% |
|
Net new flows |
|
(5,405 |
) |
|
|
(6,759 |
) |
20% |
|
(7,972 |
) |
32% |
|
Reinvested dividends |
|
1,216 |
|
|
|
958 |
|
27% |
|
10,710 |
|
(89)% |
|
Net flows |
|
(4,189 |
) |
|
|
(5,801 |
) |
28% |
|
2,738 |
|
NM |
|
Distributions |
|
(1,291 |
) |
|
|
(1,021 |
) |
(26)% |
|
(11,770 |
) |
89% |
|
Market appreciation (depreciation) and other |
|
(2,984 |
) |
|
|
(7,837 |
) |
62% |
|
8,608 |
|
NM |
|
Foreign currency translation (1) |
|
(1,325 |
) |
|
|
2,275 |
|
NM |
|
141 |
|
NM |
|
Total ending assets |
|
368,234 |
|
|
|
340,353 |
|
8% |
|
378,023 |
|
(3)% |
|
% of total retail assets sub-advised |
|
13.7 |
% |
|
|
15.7 |
% |
|
|
13.2 |
% |
|
|
|
|
|
|
|
|
|
||||||
|
Global Institutional |
|
|
|
|
|
|
||||||
|
Beginning assets |
|
300,082 |
|
|
|
292,176 |
|
3% |
|
296,414 |
|
1% |
|
Inflows (2) |
|
12,963 |
|
|
|
9,588 |
|
35% |
|
12,088 |
|
7% |
|
Outflows (2) |
|
(14,968 |
) |
|
|
(22,002 |
) |
32% |
|
(13,950 |
) |
(7)% |
|
Net flows |
|
(2,005 |
) |
|
|
(12,414 |
) |
84% |
|
(1,862 |
) |
(8)% |
|
Market appreciation (depreciation) and other (3) |
|
(2,151 |
) |
|
|
(3,034 |
) |
29% |
|
5,237 |
|
NM |
|
Foreign currency translation (1) |
|
(2,538 |
) |
|
|
4,297 |
|
NM |
|
293 |
|
NM |
|
Total ending assets |
|
293,388 |
|
|
|
281,025 |
|
4% |
|
300,082 |
|
(2)% |
|
|
|
|
|
|
|
|
||||||
|
Total managed assets |
$ |
661,622 |
|
|
$ |
621,378 |
|
6% |
$ |
678,105 |
|
(2)% |
|
|
|
|
|
|
|
|
||||||
|
Total Assets Under Advisement (4) |
|
44,485 |
|
|
|
35,320 |
|
26% |
|
42,925 |
|
4% |
|
Total Assets Under Management & Advisement |
$ |
706,107 |
|
|
$ |
656,698 |
|
8% |
$ |
721,030 |
|
(2)% |
|
|
|
|
|
|
|
|
||||||
|
Total AUM net flows |
$ |
(6,194 |
) |
|
$ |
(18,215 |
) |
66% |
$ |
876 |
|
NM |
|
Model delivery AUA flows (5) |
|
315 |
|
|
|
(35 |
) |
NM |
|
1,085 |
|
(71)% |
|
Total AUM and AUA Flows (5) |
$ |
(5,879 |
) |
|
$ |
(18,250 |
) |
68% |
$ |
1,961 |
|
NM |
|
|
|
|
|
|
|
|
||||||
|
Legacy insurance partners flows |
$ |
(838 |
) |
|
$ |
(978 |
) |
14% |
$ |
(1,351 |
) |
38% |
|
|
|
|
|
|
|
|
||||||
|
(1) Amounts represent local currency to U.S. dollar translation for reporting purposes. |
||||||||||||
|
(2) Global Institutional inflows and outflows include net flows from our RiverSource Structured Annuity product and Ameriprise Bank, FSB. |
||||||||||||
|
(3) Included in Market appreciation (depreciation) and other for Global Institutional is the change in affiliated general account balance excluding net flows related to our Structured Annuity product and Ameriprise Bank, FSB. |
||||||||||||
|
(4) Assets are presented on a one-quarter lag. |
||||||||||||
|
(5) AUA flows are estimated flows based on the period-to-period change in assets less calculated performance based on strategy returns on a one-quarter lag. |
||||||||||||
|
NM Not Meaningful – variance equal to or greater than 100% |
||||||||||||
|
Ameriprise Financial, Inc. |
|||||||||
|
Asset Management Segment Operating Metrics |
|||||||||
|
(in millions, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
|||
|
|
|
|
|
|
|
|
|||
|
Total Managed Assets by Type |
|
|
|
|
|
|
|||
|
Equity |
$ |
355,890 |
|
$ |
325,225 |
9% |
$ |
370,489 |
(4)% |
|
Fixed income |
|
234,180 |
|
|
228,854 |
2% |
|
234,201 |
—% |
|
Money market |
|
22,209 |
|
|
20,300 |
9% |
|
23,358 |
(5)% |
|
Alternative |
|
29,592 |
|
|
27,845 |
6% |
|
29,659 |
—% |
|
Hybrid and other |
|
19,751 |
|
|
19,154 |
3% |
|
20,398 |
(3)% |
|
Total managed assets by type |
$ |
661,622 |
|
$ |
621,378 |
6% |
$ |
678,105 |
(2)% |
|
|
|
|
|
|
|
|
|||
|
Average Managed Assets by Type (1) |
|
|
|
|
|
|
|||
|
Equity |
$ |
373,343 |
|
$ |
340,514 |
10% |
$ |
370,584 |
1% |
|
Fixed income |
|
236,101 |
|
|
231,937 |
2% |
|
234,022 |
1% |
|
Money market |
|
22,061 |
|
|
19,683 |
12% |
|
21,567 |
2% |
|
Alternative |
|
29,921 |
|
|
30,173 |
(1)% |
|
29,330 |
2% |
|
Hybrid and other |
|
20,423 |
|
|
19,545 |
4% |
|
20,565 |
(1)% |
|
Total average managed assets by type |
$ |
681,849 |
|
$ |
641,852 |
6% |
$ |
676,068 |
1% |
|
|
|
|
|
|
|
|
|||
|
(1) Average ending balances are calculated using the average of the prior period’s ending balance and all months in the current period. |
|||||||||
|
Ameriprise Financial, Inc. |
||||
|
Asset Management Segment Performance Metrics |
||||
|
|
1 Qtr 2026 |
|||
|
|
|
|
|
|
|
Retail Fund Rankings in Top 2 Quartiles or Above Index Benchmark – Asset Weighted |
1 year |
3 year |
5 year |
10 year |
|
Equity |
77% |
71% |
74% |
84% |
|
Fixed Income |
74% |
81% |
63% |
89% |
|
Asset Allocation |
39% |
83% |
73% |
87% |
|
|
|
|
|
|
|
4- or 5-star Morningstar rated funds |
Overall |
3 year |
5 year |
10 year |
|
Number of Rated Funds |
95 |
76 |
71 |
80 |
|
|
|
|
|
|
|
Retail Fund performance rankings for each fund are measured on a consistent basis against the most appropriate peer group or index. Peer groupings of Columbia funds are defined by Lipper category and are based on the Primary Share Class (i.e., Institutional if available, otherwise Institutional 3 share class), net of fees. Peer groupings of Threadneedle are defined by either IA or Morningstar index and are based on Primary Share Class. Comparisons to Index are measured Gross of Fees. |
||||
|
|
||||
|
To calculate asset weighted performance, the sum of the total assets of the funds with above median ranking are divided by total assets of all funds. Funds with more assets will receive a greater share of the total percentage above or below median. |
||||
|
|
||||
|
Aggregated Asset Allocation Funds may include funds that invest in other Columbia or Threadneedle branded mutual funds included in both equity and fixed income. |
||||
|
|
||||
|
Morningstar as of 03/31/26. Columbia funds are available for purchase by U.S. customers. Out of 86 Columbia funds rated (based on primary share class), 3 received a 5-star Overall Rating and 40 received a 4-star Overall Rating. Out of 129 Threadneedle funds rated (based on highest-rated share class), 12 received a 5-star Overall Rating and 40 received a 4-star Overall Rating. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics. Not all funds are available in all jurisdictions, to all investors or through all firms. |
||||
|
|
||||
|
© 2026 Morningstar. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. |
||||
|
|
||||
|
|
|
|
|
|
|
Ameriprise Financial, Inc. |
||||||||||||
|
Retirement & Protection Solutions Segment Adjusted Operating Results |
||||||||||||
|
(in millions, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Revenues |
|
|
|
|
|
|
||||||
|
Management and financial advice fees |
$ |
186 |
|
|
$ |
185 |
|
1% |
$ |
194 |
|
(4)% |
|
Distribution fees |
|
103 |
|
|
102 |
|
1% |
|
107 |
|
(4)% |
|
|
Net investment income |
|
336 |
|
|
296 |
|
14% |
|
332 |
|
1% |
|
|
Premiums, policy and contract charges |
|
326 |
|
|
341 |
|
(4)% |
|
357 |
|
(9)% |
|
|
Other revenues |
|
1 |
|
|
2 |
|
(50)% |
|
1 |
|
—% |
|
|
Total revenues |
|
952 |
|
|
926 |
|
3% |
|
991 |
|
(4)% |
|
|
Banking and deposit interest expense |
|
— |
|
|
— |
|
—% |
|
— |
|
—% |
|
|
Adjusted operating total net revenues |
|
952 |
|
|
926 |
|
3% |
|
991 |
|
(4)% |
|
|
|
|
|
|
|
|
|
||||||
|
Expenses |
|
|
|
|
|
|
||||||
|
Distribution expenses |
|
132 |
|
|
|
123 |
|
(7)% |
|
137 |
|
4% |
|
Interest credited to fixed accounts |
|
93 |
|
|
92 |
|
(1)% |
|
93 |
|
—% |
|
|
Benefits, claims, losses and settlement expenses |
|
235 |
|
|
211 |
|
(11)% |
|
237 |
|
1% |
|
|
Remeasurement (gains) losses of future policy benefit reserves |
|
(2 |
) |
|
(3 |
) |
(33)% |
|
(5 |
) |
(60)% |
|
|
Change in fair value of market risk benefits |
|
155 |
|
|
143 |
|
(8)% |
|
173 |
|
10% |
|
|
Amortization of deferred acquisition costs |
|
58 |
|
|
57 |
|
(2)% |
|
58 |
|
—% |
|
|
Interest and debt expense |
|
10 |
|
|
8 |
|
(25)% |
|
10 |
|
—% |
|
|
General and administrative expense |
|
81 |
|
|
80 |
|
(1)% |
|
88 |
|
8% |
|
|
Adjusted operating expenses |
|
762 |
|
|
711 |
|
(7)% |
|
791 |
|
4% |
|
|
Pretax adjusted operating earnings |
$ |
190 |
|
$ |
215 |
|
(12)% |
$ |
200 |
|
(5)% |
|
|
|
|
|
|
|
|
|
||||||
|
Ameriprise Financial, Inc. |
||||||||||||
|
Retirement & Protection Solutions Segment Operating Metrics |
||||||||||||
|
(in millions, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Variable Annuities Rollforwards |
|
|
|
|
|
|
||||||
|
Beginning balance |
$ |
91,296 |
|
|
$ |
85,747 |
|
6% |
$ |
90,950 |
|
—% |
|
Deposits |
|
1,173 |
|
|
|
1,064 |
|
10% |
|
1,305 |
|
(10)% |
|
Withdrawals and terminations |
|
(2,482 |
) |
|
|
(2,200 |
) |
(13)% |
|
(2,568 |
) |
3% |
|
Net flows |
|
(1,309 |
) |
|
|
(1,136 |
) |
(15)% |
|
(1,263 |
) |
(4)% |
|
Investment performance and interest credited |
|
(1,872 |
) |
|
|
(1,102 |
) |
(70)% |
|
1,609 |
|
NM |
|
Total ending balance – contract accumulation values |
$ |
88,115 |
|
|
$ |
83,509 |
|
6% |
$ |
91,296 |
|
(3)% |
|
|
|
|
|
|
|
|
||||||
|
Variable annuities fixed sub-accounts |
$ |
3,344 |
|
|
$ |
3,640 |
|
(8)% |
$ |
3,391 |
|
(1)% |
|
|
|
|
|
|
|
|
||||||
|
Life Insurance In Force |
$ |
196,769 |
|
|
$ |
197,512 |
|
—% |
$ |
197,479 |
|
—% |
|
|
|
|
|
|
|
|
||||||
|
Net Amount at Risk (Life) |
$ |
37,277 |
|
|
$ |
38,236 |
|
(3)% |
$ |
37,167 |
|
—% |
|
|
|
|
|
|
|
|
||||||
|
Net Policyholder Reserves |
|
|
|
|
|
|
||||||
|
VUL/UL |
$ |
17,104 |
|
|
$ |
15,725 |
|
9% |
$ |
17,377 |
|
(2)% |
|
Term and whole life |
|
160 |
|
|
|
170 |
|
(6)% |
|
166 |
|
(4)% |
|
Disability insurance |
|
432 |
|
|
|
470 |
|
(8)% |
|
446 |
|
(3)% |
|
Other insurance |
|
471 |
|
|
|
498 |
|
(5)% |
|
481 |
|
(2)% |
|
Total net policyholder reserves |
$ |
18,167 |
|
|
$ |
16,863 |
|
8% |
$ |
18,470 |
|
(2)% |
|
|
|
|
|
|
|
|
||||||
|
DAC Ending Balances |
|
|
|
|
|
|
||||||
|
Variable Annuities DAC |
$ |
1,629 |
|
|
$ |
1,665 |
|
(2)% |
$ |
1,639 |
|
(1)% |
|
Life and Health DAC |
$ |
942 |
|
|
$ |
952 |
|
(1)% |
$ |
945 |
|
—% |
|
|
|
|
|
|
|
|
||||||
|
NM Not Meaningful – variance equal to or greater than 100% |
||||||||||||
|
Ameriprise Financial, Inc. |
||||||||||||
|
Corporate Segment Adjusted Operating Results |
||||||||||||
|
(in millions, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Corporate Excluding Long Term Care and Fixed Annuities Adjusted Operating Income Statements |
|
|
|
|
|
|
||||||
|
Revenues |
|
|
|
|
|
|
||||||
|
Management and financial advice fees |
$ |
— |
|
|
$ |
— |
|
—% |
$ |
— |
|
—% |
|
Distribution fees |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Net investment income |
|
(7 |
) |
|
|
(7 |
) |
—% |
|
(7 |
) |
—% |
|
Premiums, policy and contract charges |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Other revenues |
|
2 |
|
|
|
2 |
|
—% |
|
4 |
|
(50)% |
|
Total revenues |
|
(5 |
) |
|
|
(5 |
) |
—% |
|
(3 |
) |
(67)% |
|
Banking and deposit interest expense |
|
4 |
|
|
|
8 |
|
50% |
|
8 |
|
50% |
|
Adjusted operating total net revenues |
|
(9 |
) |
|
|
(13 |
) |
31% |
|
(11 |
) |
18% |
|
|
|
|
|
|
|
|
||||||
|
Expenses |
|
|
|
|
|
|
||||||
|
Distribution expenses |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Interest credited to fixed accounts |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Benefits, claims, losses and settlement expenses |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Remeasurement (gains) losses of future policy benefit reserves |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Change in fair value of market risk benefits |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Amortization of deferred acquisition costs |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Interest and debt expense |
|
21 |
|
|
|
26 |
|
19% |
|
21 |
|
—% |
|
General and administrative expense |
|
49 |
|
|
|
64 |
|
23% |
|
48 |
|
(2)% |
|
Adjusted operating expenses |
|
70 |
|
|
|
90 |
|
22% |
|
69 |
|
(1)% |
|
Pretax adjusted operating earnings (loss) |
$ |
(79 |
) |
|
$ |
(103 |
) |
23% |
$ |
(80 |
) |
1% |
|
|
|
|
|
|
|
|
||||||
|
Ameriprise Financial, Inc. |
||||||||||||
|
Corporate Segment Adjusted Operating Results and Metrics |
||||||||||||
|
(in millions, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Long Term Care Adjusted Operating Income Statements |
|
|
|
|
|
|
||||||
|
Revenues |
|
|
|
|
|
|
||||||
|
Management and financial advice fees |
$ |
— |
|
|
$ |
— |
|
—% |
$ |
— |
|
—% |
|
Distribution fees |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Net investment income |
|
45 |
|
|
|
46 |
|
(2)% |
|
44 |
|
2% |
|
Premiums, policy and contract charges |
|
21 |
|
|
|
22 |
|
(5)% |
|
23 |
|
(9)% |
|
Other revenues |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Total revenues |
|
66 |
|
|
|
68 |
|
(3)% |
|
67 |
|
(1)% |
|
Banking and deposit interest expense |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Adjusted operating total net revenues |
|
66 |
|
|
|
68 |
|
(3)% |
|
67 |
|
(1)% |
|
|
|
|
|
|
|
|
||||||
|
Expenses |
|
|
|
|
|
|
||||||
|
Distribution expenses |
|
(2 |
) |
|
|
(2 |
) |
—% |
|
(4 |
) |
(50)% |
|
Interest credited to fixed accounts |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Benefits, claims, losses and settlement expenses |
|
53 |
|
|
|
55 |
|
4% |
|
53 |
|
—% |
|
Remeasurement (gains) losses of future policy benefit reserves |
|
1 |
|
|
|
(7 |
) |
NM |
|
6 |
|
83% |
|
Change in fair value of market risk benefits |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Amortization of deferred acquisition costs |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Interest and debt expense |
|
2 |
|
|
|
2 |
|
—% |
|
2 |
|
—% |
|
General and administrative expense |
|
5 |
|
|
|
6 |
|
17% |
|
7 |
|
29% |
|
Adjusted operating expenses |
|
59 |
|
|
|
54 |
|
(9)% |
|
64 |
|
8% |
|
Pretax adjusted operating earnings (loss) |
$ |
7 |
|
|
$ |
14 |
|
(50)% |
$ |
3 |
|
NM |
|
|
|
|
|
|
|
|
||||||
|
Long Term Care Policyholder Reserves, net of reinsurance |
$ |
2,572 |
|
|
$ |
2,561 |
|
—% |
$ |
2,632 |
|
(2)% |
|
|
|
|
|
|
|
|
||||||
|
NM Not Meaningful – variance equal to or greater than 100% |
||||||||||||
|
Ameriprise Financial, Inc. |
||||||||||||
|
Corporate Segment Adjusted Operating Results |
||||||||||||
|
(in millions, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Fixed Annuities Adjusted Operating Income Statements |
|
|
|
|
|
|
||||||
|
Revenues |
|
|
|
|
|
|
||||||
|
Management and financial advice fees |
$ |
— |
|
|
$ |
— |
|
—% |
$ |
— |
|
—% |
|
Distribution fees |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Net investment income |
|
8 |
|
|
|
8 |
|
—% |
|
8 |
|
—% |
|
Premiums, policy and contract charges |
|
1 |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Other revenues |
|
37 |
|
|
|
41 |
|
(10)% |
|
39 |
|
(5)% |
|
Total revenues |
|
46 |
|
|
|
49 |
|
(6)% |
|
47 |
|
(2)% |
|
Banking and deposit interest expense |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Adjusted operating total net revenues |
|
46 |
|
|
|
49 |
|
(6)% |
|
47 |
|
(2)% |
|
|
|
|
|
|
|
|
||||||
|
Expenses |
|
|
|
|
|
|
||||||
|
Distribution expenses |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Interest credited to fixed accounts |
|
50 |
|
|
|
51 |
|
2% |
|
49 |
|
(2)% |
|
Benefits, claims, losses and settlement expenses |
|
— |
|
|
|
1 |
|
NM |
|
— |
|
—% |
|
Remeasurement (gains) losses of future policy benefit reserves |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Change in fair value of market risk benefits |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Amortization of deferred acquisition costs |
|
1 |
|
|
|
2 |
|
50% |
|
1 |
|
—% |
|
Interest and debt expense |
|
1 |
|
|
|
— |
|
—% |
|
1 |
|
—% |
|
General and administrative expense |
|
3 |
|
|
|
3 |
|
—% |
|
3 |
|
—% |
|
Adjusted operating expenses |
|
55 |
|
|
|
57 |
|
4% |
|
54 |
|
(2)% |
|
Pretax adjusted operating earnings (loss) |
$ |
(9 |
) |
|
$ |
(8 |
) |
(13)% |
$ |
(7 |
) |
(29)% |
|
|
|
|
|
|
|
|
||||||
|
NM Not Meaningful – variance equal to or greater than 100% |
|
|
|
|
|
|
||||||
|
Ameriprise Financial, Inc. |
||||||||||||
|
Eliminations (1) Adjusted Operating Results |
||||||||||||
|
(in millions, unaudited) |
1 Qtr 2026 |
|
1 Qtr 2025 |
% Better/ (Worse) |
4 Qtr 2025 |
% Better/ (Worse) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Revenues |
|
|
|
|
|
|
||||||
|
Management and financial advice fees |
$ |
(41 |
) |
|
$ |
(40 |
) |
(3)% |
$ |
(42 |
) |
2% |
|
Distribution fees |
|
(304 |
) |
|
|
(287 |
) |
(6)% |
|
(316 |
) |
4% |
|
Net investment income |
|
(17 |
) |
|
|
(22 |
) |
23% |
|
(20 |
) |
15% |
|
Premiums, policy and contract charges |
|
(8 |
) |
|
|
(8 |
) |
—% |
|
(9 |
) |
11% |
|
Other revenues |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Total revenues |
|
(370 |
) |
|
|
(357 |
) |
(4)% |
|
(387 |
) |
4% |
|
Banking and deposit interest expense |
|
(4 |
) |
|
|
(8 |
) |
(50)% |
|
(8 |
) |
(50)% |
|
Adjusted operating total net revenues |
|
(366 |
) |
|
|
(349 |
) |
(5)% |
|
(379 |
) |
3% |
|
|
|
|
|
|
|
|
||||||
|
Expenses |
|
|
|
|
|
|
||||||
|
Distribution expenses |
|
(326 |
) |
|
|
(310 |
) |
5% |
|
(337 |
) |
(3)% |
|
Interest credited to fixed accounts |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Benefits, claims, losses and settlement expenses |
|
(4 |
) |
|
|
(10 |
) |
(60)% |
|
(4 |
) |
—% |
|
Remeasurement (gains) losses of future policy benefit reserves |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Change in fair value of market risk benefits |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Amortization of deferred acquisition costs |
|
— |
|
|
|
— |
|
—% |
|
— |
|
—% |
|
Interest and debt expense |
|
(13 |
) |
|
|
(13 |
) |
—% |
|
(12 |
) |
8% |
|
General and administrative expense |
|
(23 |
) |
|
|
(16 |
) |
44% |
|
(26 |
) |
(12)% |
|
Adjusted operating expenses |
|
(366 |
) |
|
|
(349 |
) |
5% |
|
(379 |
) |
(3)% |
|
Pretax adjusted operating earnings (loss) |
$ |
— |
|
|
$ |
— |
|
—% |
$ |
— |
|
—% |
|
|
|
|
|
|
|
|
||||||
|
(1) The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses. |
||||||||||||
|
Ameriprise Financial, Inc. |
||||||||||||
|
Capital Information |
||||||||||||
|
(in millions, unaudited) |
March 31, |
|
March 31, |
|
December 31, |
|
||||||
|
|
|
|
|
|
|
|
||||||
|
Long-term Debt Summary |
|
|
|
|
|
|
||||||
|
Senior notes |
$ |
3,100 |
|
|
$ |
3,600 |
|
|
$ |
3,100 |
|
|
|
Finance lease liabilities |
|
— |
|
|
|
6 |
|
|
|
— |
|
|
|
Other (1) |
|
(21 |
) |
|
|
(25 |
) |
|
|
(23 |
) |
|
|
Total Ameriprise Financial long-term debt |
|
3,079 |
|
|
|
3,581 |
|
|
|
3,077 |
|
|
|
Non-recourse debt of consolidated investment entities |
|
2,535 |
|
|
|
2,395 |
|
|
|
2,585 |
|
|
|
Total long-term debt |
$ |
5,614 |
|
|
$ |
5,976 |
|
|
$ |
5,662 |
|
|
|
|
|
|
|
|
|
|
||||||
|
Total Ameriprise Financial long-term debt |
$ |
3,079 |
|
|
$ |
3,581 |
|
|
$ |
3,077 |
|
|
|
Finance lease liabilities |
|
— |
|
|
|
(6 |
) |
|
|
— |
|
|
|
Other (1) |
|
21 |
|
|
|
25 |
|
|
|
23 |
|
|
|
Total Ameriprise Financial long-term debt excluding finance lease liabilities and other |
$ |
3,100 |
|
|
$ |
3,600 |
|
|
$ |
3,100 |
|
|
|
|
|
|
|
|
|
|
||||||
|
Total equity (2) |
$ |
6,212 |
|
|
$ |
5,426 |
|
|
$ |
6,549 |
|
|
|
Equity of consolidated investment entities |
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
|
Total equity excluding CIEs |
$ |
6,212 |
|
|
$ |
5,426 |
|
|
$ |
6,548 |
|
|
|
|
|
|
|
|
|
|
||||||
|
Total Ameriprise Financial capital |
$ |
9,291 |
|
|
$ |
9,007 |
|
|
$ |
9,626 |
|
|
|
Total Ameriprise Financial capital excluding finance lease liabilities, other and equity of CIEs |
$ |
9,312 |
|
|
$ |
9,026 |
|
|
$ |
9,648 |
|
|
|
|
|
|
|
|
|
|
||||||
|
Debt to capital |
|
|
|
|
|
|
||||||
|
Total Ameriprise Financial long-term debt to total Ameriprise Financial capital |
|
33.1 |
% |
|
|
39.8 |
% |
|
|
32.0 |
% |
|
|
Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding finance lease liabilities, other and equity of CIEs (2) |
|
33.3 |
% |
|
|
39.9 |
% |
|
|
32.1 |
% |
|
|
|
|
|
|
|
|
|
||||||
|
(1) Includes adjustments for net unamortized discounts, debt issuance costs and other lease obligations. |
||||||||||||
|
(2) Includes accumulated other comprehensive income, net of tax. |
||||||||||||
|
Ameriprise Financial, Inc. |
||||||||
|
Consolidated Balance Sheets |
||||||||
|
(in millions, unaudited) |
March 31, |
|
December 31, |
|
||||
|
Assets |
|
|
|
|
||||
|
Cash and cash equivalents |
$ |
8,341 |
|
|
$ |
9,953 |
|
|
|
Cash of consolidated investment entities |
|
128 |
|
|
|
150 |
|
|
|
Investments |
|
58,969 |
|
|
|
58,406 |
|
|
|
Investments of consolidated investment entities |
|
2,507 |
|
|
|
2,618 |
|
|
|
Market risk benefits |
|
1,934 |
|
|
|
2,274 |
|
|
|
Separate account assets |
|
76,466 |
|
|
|
80,044 |
|
|
|
Receivables |
|
15,144 |
|
|
|
14,920 |
|
|
|
Receivables of consolidated investment entities |
|
30 |
|
|
|
30 |
|
|
|
Deferred acquisition costs |
|
2,612 |
|
|
|
2,625 |
|
|
|
Restricted and segregated cash and investments |
|
924 |
|
|
|
1,055 |
|
|
|
Other assets |
|
17,393 |
|
|
|
18,829 |
|
|
|
Other assets of consolidated investment entities |
|
— |
|
|
|
— |
|
|
|
Total Assets |
$ |
184,448 |
|
|
$ |
190,904 |
|
|
|
|
|
|
|
|
||||
|
Liabilities |
|
|
|
|
||||
|
Policyholder account balances, future policy benefits and claims |
$ |
46,401 |
|
|
$ |
46,498 |
|
|
|
Market risk benefits |
|
1,359 |
|
|
|
1,182 |
|
|
|
Separate account liabilities |
|
76,466 |
|
|
|
80,044 |
|
|
|
Customer deposits |
|
33,278 |
|
|
|
33,750 |
|
|
|
Short-term borrowings |
|
200 |
|
|
|
200 |
|
|
|
Long-term debt |
|
3,079 |
|
|
|
3,077 |
|
|
|
Debt of consolidated investment entities |
|
2,535 |
|
|
|
2,585 |
|
|
|
Accounts payable and accrued expenses |
|
2,513 |
|
|
|
2,982 |
|
|
|
Other liabilities |
|
12,319 |
|
|
|
13,878 |
|
|
|
Other liabilities of consolidated investment entities |
|
86 |
|
|
|
159 |
|
|
|
Total Liabilities |
|
178,236 |
|
|
|
184,355 |
|
|
|
|
|
|
|
|
||||
|
Equity |
|
|
|
|
||||
|
Ameriprise Financial |
|
|
|
|
||||
|
Common shares ($.01 par) |
|
3 |
|
|
|
3 |
|
|
|
Additional paid-in capital |
|
10,437 |
|
|
|
10,377 |
|
|
|
Retained earnings |
|
28,425 |
|
|
|
27,662 |
|
|
|
Treasury stock |
|
(31,448 |
) |
|
|
(30,601 |
) |
|
|
Accumulated other comprehensive income, net of tax |
|
(1,205 |
) |
|
|
(892 |
) |
|
|
Total Equity |
|
6,212 |
|
|
|
6,549 |
|
|
|
Total Liabilities and Equity |
$ |
184,448 |
|
|
$ |
190,904 |
|
|
|
|
|
|
|
|
||||
|
Ameriprise Financial, Inc. |
|||||||||||||||||||
|
Reconciliation Table: Earnings |
|||||||||||||||||||
|
|
Quarter Ended |
|
% Better/ (Worse) |
|
Per Diluted |
|
% Better/ (Worse) |
||||||||||||
|
(in millions, except per share amounts, unaudited) |
|
2026 |
|
|
|
2025 |
|
|
|
|
2026 |
|
|
|
2025 |
|
|
||
|
Net income |
$ |
915 |
|
|
$ |
583 |
|
|
57% |
|
$ |
9.68 |
|
|
$ |
5.83 |
|
|
66% |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Net realized investment gains (losses) (1) |
|
(5 |
) |
|
|
(2 |
) |
|
|
|
|
(0.05 |
) |
|
|
(0.02 |
) |
|
|
|
Market impact on non-traditional long-duration products (1) |
|
(184 |
) |
|
|
(460 |
) |
|
|
|
|
(1.95 |
) |
|
|
(4.60 |
) |
|
|
|
Net income (loss) attributable to consolidated investment entities |
|
— |
|
|
|
(2 |
) |
|
|
|
|
— |
|
|
|
(0.02 |
) |
|
|
|
Tax effect of adjustments (2) |
|
40 |
|
|
|
97 |
|
|
|
|
|
0.42 |
|
|
|
0.97 |
|
|
|
|
Adjusted operating earnings |
$ |
1,064 |
|
|
$ |
950 |
|
|
12% |
|
$ |
11.26 |
|
|
$ |
9.50 |
|
|
19% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Basic |
|
93.3 |
|
|
|
98.5 |
|
|
|
|
|
|
|
|
|
||||
|
Diluted |
|
94.5 |
|
|
|
100.0 |
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
(1) Pretax adjusted operating adjustment. |
|||||||||||||||||||
|
(2) Calculated using the statutory tax rate of 21%. |
|||||||||||||||||||
|
Ameriprise Financial, Inc. |
||||||||
|
Reconciliation Table: Pretax Adjusted Operating Earnings |
||||||||
|
|
Quarter Ended |
|
||||||
|
(in millions, unaudited) |
|
2026 |
|
|
|
2025 |
|
|
|
Total net revenues |
$ |
4,812 |
|
|
$ |
4,354 |
|
|
|
Adjustments: |
|
|
|
|
||||
|
Net realized investment gains (losses) |
|
(5 |
) |
|
|
(2 |
) |
|
|
Market impact on non-traditional long-duration products |
|
2 |
|
|
|
5 |
|
|
|
Revenues attributable to the CIEs |
|
41 |
|
|
|
42 |
|
|
|
Adjusted operating total net revenues |
$ |
4,774 |
|
|
$ |
4,309 |
|
|
|
|
|
|
|
|
||||
|
Total expenses |
$ |
3,668 |
|
|
$ |
3,667 |
|
|
|
Adjustments: |
|
|
|
|
||||
|
Expenses attributable to the CIEs |
|
41 |
|
|
|
44 |
|
|
|
Market impact on non-traditional long-duration products |
|
186 |
|
|
|
465 |
|
|
|
Adjusted operating expenses |
$ |
3,441 |
|
|
$ |
3,158 |
|
|
|
|
|
|
|
|
||||
|
Pretax income |
$ |
1,144 |
|
|
$ |
687 |
|
|
|
Pretax adjusted operating earnings |
$ |
1,333 |
|
|
$ |
1,151 |
|
|
|
|
|
|
|
|
||||
|
Pretax income margin |
|
23.8 |
% |
|
|
15.8 |
% |
|
|
Pretax adjusted operating margin |
|
27.9 |
% |
|
|
26.7 |
% |
|
|
|
|
|
|
|
||||
|
Ameriprise Financial, Inc. |
||||||||
|
Reconciliation Table: Effective Tax Rate |
||||||||
|
|
Quarter Ended March 31, 2025 |
|
||||||
|
(in millions, unaudited) |
GAAP |
|
Adjusted Operating |
|||||
|
Pretax income |
$ |
687 |
|
|
$ |
1,151 |
|
|
|
Income tax provision |
$ |
104 |
|
|
$ |
201 |
|
|
|
|
|
|
|
|
||||
|
Effective tax rate |
|
15.1 |
% |
|
|
17.5 |
% |
|
|
|
|
|
|
|
||||
|
Ameriprise Financial, Inc. |
||||||||
|
Reconciliation Table: Effective Tax Rate |
||||||||
|
|
Quarter Ended March 31, 2026 |
|
||||||
|
(in millions, unaudited) |
GAAP |
|
Adjusted Operating |
|||||
|
Pretax income |
$ |
1,144 |
|
|
$ |
1,333 |
|
|
|
Income tax provision |
$ |
229 |
|
|
$ |
269 |
|
|
|
|
|
|
|
|
||||
|
Effective tax rate |
|
20.0 |
% |
|
|
20.2 |
% |
|
|
|
|
|
|
|
||||
|
Ameriprise Financial, Inc. |
||||||||
|
Reconciliation Table: Return on Equity (ROE) Excluding Accumulated Other Comprehensive Income “AOCI” |
||||||||
|
|
Twelve Months Ended |
|
||||||
|
(in millions, unaudited) |
|
2026 |
|
|
|
2025 |
|
|
|
Net income |
$ |
3,895 |
|
|
$ |
2,994 |
|
|
|
Less: Adjustments (1) |
|
(77 |
) |
|
|
(613 |
) |
|
|
Adjusted operating earnings |
$ |
3,972 |
|
|
$ |
3,607 |
|
|
|
|
|
|
|
|
||||
|
Total Ameriprise Financial, Inc. shareholders’ equity |
$ |
6,145 |
|
|
$ |
5,248 |
|
|
|
Less: Accumulated other comprehensive income, net of tax |
|
(1,164 |
) |
|
|
(1,690 |
) |
|
|
Total Ameriprise Financial, Inc. shareholders’ equity excluding AOCI |
|
7,309 |
|
|
|
6,938 |
|
|
|
Less: Equity impacts attributable to the consolidated investment entities |
|
(1 |
) |
|
|
(2 |
) |
|
|
Adjusted operating equity |
$ |
7,310 |
|
|
$ |
6,940 |
|
|
|
|
|
|
|
|
||||
|
Return on equity excluding AOCI |
|
53.3 |
% |
|
|
43.2 |
% |
|
|
Adjusted operating return on equity, excluding AOCI (2) |
|
54.3 |
% |
|
|
52.0 |
% |
|
|
|
|
|
|
|
||||
|
(1) Adjustments reflect the sum of after-tax net realized investment gains or losses, net of the reinsurance accrual; the market impact on non-traditional long-duration products (including variable and fixed deferred annuity contracts and UL insurance contracts), net of hedges and related reinsurance accrual; mean reversion related impacts; the market impact of hedges to offset interest rate and currency changes on unrealized gains or losses for certain investments; block transfer reinsurance transaction impacts; gain or loss on disposal of a business that is not considered discontinued operations; integration and restructuring charges; income (loss) from discontinued operations; and net income (loss) from consolidated investment entities. After-tax is calculated using the statutory tax rate of 21%. |
||||||||
|
(2) Adjusted operating return on equity excluding AOCI is calculated using adjusted operating earnings in the numerator, and Ameriprise Financial shareholders’ equity excluding AOCI and the impact of consolidating investment entities using a five-point average of quarter-end equity in the denominator. After-tax is calculated using the statutory tax rate of 21%. |
||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260423592721/en/
Investor Relations:
Stephanie M. Rabe
Ameriprise Financial
(612) 671-4085
[email protected]
Media Relations:
Paul W. Johnson
Ameriprise Financial
(612) 671-0625
[email protected]
KEYWORDS: Minnesota United States North America
INDUSTRY KEYWORDS: Professional Services Other Professional Services Insurance Finance Asset Management Banking Personal Finance
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