Shareholders' Equity

12 Months Ended

Dec. 31, 2013

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

The following table presents the components of accumulated other comprehensive income, net of tax:

	December 31,
	2013			2012
	(in millions)
Net unrealized securities gains	$	655		$	1,312
Net unrealized derivatives losses	(1		)	(2		)
Foreign currency translation	(13		)	(25		)
Defined benefit plans	(46		)	(91		)
Total	$	595		$	1,194

See Note 5, Note 16 and Note 22 for additional disclosures related to net unrealized securities gains, net unrealized derivatives losses and net unrealized actuarial losses on defined benefit plans, respectively.

The following table provides information related to amounts reclassified from AOCI for the year ended:

AOCI Reclassification	Location of Loss (Gain) Recognized in Income	December 31, 2013
		(in millions)
Net unrealized gains on Available-for-Sale securities	Net investment income	$	(7	)
Tax expense	Income tax provision	2
Net of tax		$	(5	)
Losses (gains) on cash flow hedges:
Interest rate contracts	Other revenues	$	—
Interest rate contracts	Interest and debt expense	(4		)
Interest rate contracts	Distribution fees	—
Swaptions	Net investment income	5
Total before tax		1
Tax expense	Income tax provision	—
Net of tax		$	1

The Company made adjustments to AOCI for the impact to DAC, DSIC, benefit reserves and reinsurance recoverable on net unrealized securities gains of $319 million, net of tax, for the year ended December 31, 2013. See Note 5 for additional information related to the impact of DAC, DSIC, benefit reserves and reinsurance recoverable on net unrealized securities gains/losses included in AOCI. See Note 16 for additional information regarding the Company’s cash flow hedges.

For the years ended December 31, 2013, 2012 and 2011, the Company repurchased a total of 17.8 million shares, 24.6 million shares and 27.9 million shares, respectively, of its common stock for an aggregate cost of $1.5 billion, $1.3 billion and $1.5 billion, respectively. On October 24, 2012, the Company’s Board of Directors authorized an expenditure of up to $2.0 billion for the repurchase of the Company’s common stock through 2014. As of December 31, 2013, the Company had $649 million remaining under its share repurchase authorization.

The Company may also reacquire shares of its common stock under its share-based compensation plans related to restricted stock awards and certain option exercises. The holders of restricted shares may elect to surrender a portion of their shares on the vesting date to cover their income tax obligation. These vested restricted shares are reacquired by the Company and the Company’s payment of the holders’ income tax obligations are recorded as a treasury share purchase. For the years ended December 31, 2013, 2012 and 2011, the Company reacquired 0.4 million shares, 0.3 million shares and 0.5 million shares, respectively, of its common stock through the surrender of shares upon vesting and paid in the aggregate $26 million, $18 million and $25 million, respectively, related to the holders’ income tax obligations on the vesting date. Beginning in 2013, option holders may elect to net settle their vested awards resulting in the surrender of the number of shares required to cover the strike price and tax obligation of the options exercised. These shares are reacquired by the Company and recorded as treasury shares. For the year ended December 31, 2013, the Company reacquired 2.9 million shares of its common stock through the net settlement of options for an aggregate value of $227 million, of which $145 million related to the strike price and $82 million related to the holders’ income tax obligation.

For the years ended December 31, 2013, 2012 and 2011, respectively, the Company reissued 1.9 million, 1.8 million and 1.7 million treasury shares, respectively, for restricted stock award grants and issuance of shares vested under the Ameriprise Financial Franchise Advisor Deferred Compensation Plan. For the years ended December 31, 2012 and 2011, the Company reacquired 0.3 million and 0.3 million shares, respectively, of its common stock with an aggregate value of $21 million and $13 million, respectively, from a total return swap used to economically hedge its Franchise Advisor Deferral Plan, which was settled in December 2012.