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Segment Information
 9 Months Ended
Sep. 30, 2013
Segment Reporting [Abstract]  
Segment Information
Segment Information
 
The Company’s segments are Advice & Wealth Management, Asset Management, Annuities, Protection and Corporate & Other.
 
Management uses segment operating measures in goal setting, as a basis for determining employee compensation and in evaluating performance on a basis comparable to that used by some securities analysts and investors. Consistent with GAAP accounting guidance for segment reporting, operating earnings is the Company’s measure of segment performance. Operating earnings should not be viewed as a substitute for GAAP income from continuing operations before income tax provision. The Company believes the presentation of segment operating earnings as the Company measures it for management purposes enhances the understanding of its business by reflecting the underlying performance of its core operations and facilitating a more meaningful trend analysis.
 
The accounting policies of the segments are the same as those of the Company, except for operating adjustments defined below, the method of capital allocation, the accounting for gains (losses) from intercompany revenues and expenses and not providing for income taxes on a segment basis.
 
Operating earnings is defined as operating net revenues less operating expenses. Operating net revenues and operating expenses exclude the results of discontinued operations, the market impact on IUL benefits (net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual), integration and restructuring charges and the impact of consolidating investment entities. Operating net revenues also exclude net realized gains or losses. Operating expenses also exclude the market impact on variable annuity guaranteed living benefits (net of hedges and the related DSIC and DAC amortization). The market impact on variable annuity guaranteed living benefits and IUL benefits includes changes in liability values caused by changes in financial market conditions, net of changes in associated economic hedge values. The market impact also includes certain valuation adjustments made in accordance with FASB Accounting Standards Codification 820, Fair Value Measurements and Disclosures, including the impact on liability values of discounting projected benefits to reflect a current estimate of the Company’s life insurance subsidiary’s nonperformance spread. Integration and restructuring charges primarily relate to the Company’s acquisition of the long-term asset management business of Columbia Management Group on April 30, 2010. The costs include system integration costs, proxy and other regulatory filing costs, employee reduction and retention costs and investment banking, legal and other acquisition costs. Beginning in the second quarter of 2012, integration and restructuring charges also include expenses related to the Company’s transition of its federal savings bank subsidiary, Ameriprise Bank, FSB, to a limited powers national trust bank.
 
The following tables summarize selected financial information by segment and reconcile segment totals to those reported on the consolidated financial statements:
 
September 30, 2013
 
December 31, 2012
 
(in millions)
Advice & Wealth Management
$
9,177

 
$
8,962

Asset Management
7,124

 
6,267

Annuities
95,330

 
91,587

Protection
18,905

 
19,065

Corporate & Other
9,672

 
8,848

Total assets
$
140,208

 
$
134,729

 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2013
 
2012
 
2013
 
2012
 
(in millions)
Operating net revenues:
 

 
 

 
 

 
 

Advice & Wealth Management
$
1,074

 
$
961

 
$
3,168

 
$
2,868

Asset Management
777

 
733

 
2,345

 
2,151

Annuities
654

 
632

 
1,925

 
1,888

Protection
536

 
496

 
1,625

 
1,546

Corporate & Other
(5
)
 
5

 
(12
)
 
20

Eliminations(1) (2)
(341
)
 
(310
)
 
(1,010
)
 
(927
)
Total segment operating revenues
2,695

 
2,517

 
8,041

 
7,546

Net realized gains (losses)
6

 
(68
)
 
7

 
(75
)
Revenues of CIEs
114

 
27

 
208

 
80

Market impact on IUL benefits, net
(2
)
 
—

 
(3
)
 
—

Integration and restructuring charges
—

 
(8
)
 
—

 
(8
)
Total net revenues per consolidated statements of operations
$
2,813

 
$
2,468

 
$
8,253

 
$
7,543

(1) Represents the elimination of intersegment revenues recognized for the three months ended September 30, 2013 and 2012 in each segment as follows: Advice & Wealth Management ($243 and $219, respectively); Asset Management ($10 and $10, respectively); Annuities ($77 and $71, respectively); Protection ($10 and $10, respectively); and Corporate & Other ($1 and nil, respectively).
(2) Represents the elimination of intersegment revenues recognized for the nine months ended September 30, 2013 and 2012 in each segment as follows: Advice & Wealth Management ($723 and $666, respectively); Asset Management ($29 and $32, respectively); Annuities ($226 and $200, respectively); Protection ($30 and $28, respectively); and Corporate & Other ($2 and $1, respectively).
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2013
 
2012
 
2013
 
2012
 
(in millions)
Operating earnings:
 

 
 

 
 

 
 

Advice & Wealth Management
$
153

 
$
119

 
$
436

 
$
324

Asset Management
178

 
155

 
521

 
416

Annuities
219

 
91

 
499

 
396

Protection
75

 
89

 
283

 
305

Corporate & Other
(73
)
 
(57
)
 
(239
)
 
(189
)
Total segment operating earnings
552

 
397

 
1,500

 
1,252

Net realized gains (losses)
6

 
(68
)
 
7

 
(75
)
Net income (loss) attributable to noncontrolling interests
67

 
(22
)
 
57

 
(71
)
Market impact on variable annuity living benefits, net
(21
)
 
(91
)
 
(66
)
 
(220
)
Market impact on IUL benefits, net
(2
)
 
—

 
(4
)
 
—

Integration and restructuring charges
—

 
(17
)
 
(3
)
 
(66
)
Income from continuing operations before income tax provision per consolidated statements of operations
$
602

 
$
199

 
$
1,491

 
$
820