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Cover and table of contents

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Cover and table of contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM10-Q
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period EndedMarch 31, 2025
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Transition Period from_______________________to_______________________
Commission File No.1-32525
AMERIPRISE FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Delaware13-3180631
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
1099 Ameriprise Financial CenterMinneapolisMinnesota55474
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code:(612)671-3131
Former name, former address and former fiscal year, if changed since last report:Not Applicable
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock (par value $0.01 per share)AMPNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer☒Accelerated Filer☐Non-accelerated Filer☐Smaller reporting company☐Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
ClassOutstanding at April 25, 2025
Common Stock (par value $0.01 per share)95,222,673 shares

Index

AMERIPRISE FINANCIAL, INC.

FORM 10-Q

INDEX

Part I. Financial Information3
Item 1. Financial Statements (Unaudited)3
Consolidated Statements of Operations — Three months ended March 31, 2025 and 20243
Consolidated Statements of Comprehensive Income — Three months ended March 31, 2025 and 20244
Consolidated Balance Sheets — March 31, 2025 and December 31, 20245
Consolidated Statements of Equity — Three months ended March 31, 2025 and 20246
Consolidated Statements of Cash Flows — Three months ended March 31, 2025 and 20247
Notes to Consolidated Financial Statements9
1.Basis of Presentation9
2.Recent Accounting Pronouncements9
3.Revenue from Contracts with Customers10
4.Variable Interest Entities14
5.Investments18
6.Financing Receivables21
7.Deferred Acquisition Costs and Deferred Sales Inducement Costs26
8.Policyholder Account Balances, Future Policy Benefits and Claims27
9.Separate Account Assets and Liabilities38
10.Market Risk Benefits39
11.Debt44
12.Fair Values of Assets and Liabilities45
13.Offsetting Assets and Liabilities54
14.Derivatives and Hedging Activities56
15.Shareholders’ Equity60
16.Income Taxes61
17.Contingencies62
18.Earnings per Share64
19.Segment Information64
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations67
Item 3. Quantitative and Qualitative Disclosures About Market Risk86
Item 4. Controls and Procedures88
Part II. Other Information89
Item 1. Legal Proceedings89
Item 1A. Risk Factors89
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities89
Item 5. Other Information89
Item 6. Exhibits90
Signatures91

Index

AMERIPRISE FINANCIAL, INC.

PART I. FINANCIAL INFORMATION

Next: Item 1. FINANCIAL STATEMENTS (UNAUDITED)