Shareholders' Equity

6 Months Ended

Jun. 30, 2014

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

The following table provides information related to amounts reclassified from accumulated other comprehensive income (“AOCI”):

AOCI Reclassification	Location of Loss (Gain) Recognized in Income	Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
		(in millions)
Net unrealized losses (gains) on Available-for-Sale securities	Net investment income	$	(1	)	$	1		$	(6	)	$	—
Tax expense	Income tax provision	—			—			2			—
Net of tax		$	(1	)	$	1		$	(4	)	$	—
Losses (gains) on cash flow hedges:
Interest rate contracts	Interest and debt expense	$	(1	)	$	(1	)	$	(2	)	$	(2	)
Swaptions	Net investment income	1			1			2			2
Total before tax		—			—			—			—
Tax benefit	Income tax provision	—			—			—			—
Net of tax		$	—		$	—		$	—		$	—

See Note 4 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 12 for additional information regarding the Company’s cash flow hedges.

In October 2012, the Company’s Board of Directors authorized an expenditure of up to $2.0 billion for the repurchase of shares of our common stock through 2014. In April 2014, the Company’s Board of Directors authorized an expenditure of up to an additional $2.5 billion for the repurchase of shares of our common stock through April 28, 2016. As of June 30, 2014, the Company had $2.4 billion remaining under its share repurchase authorization. During the six months ended June 30, 2014 and 2013, the Company repurchased a total of 6.4 million shares and 10.1 million shares, respectively, of its common stock for an aggregate cost of $706 million and $740 million, respectively.

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 six months ended June 30, 2014 and 2013, the Company reacquired 0.8 million shares and 0.4 million shares, respectively, of its common stock through the surrender of shares upon vesting and paid in the aggregate $90 million and $25 million, respectively, related to the holders’ income tax obligations on the vesting date. 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 six months ended June 30, 2014 and 2013, the Company reacquired 1.2 million shares and 2.1 million shares of its common stock through the net settlement of options for an aggregate value of $133 million and $156 million, respectively.

During the six months ended June 30, 2014 and 2013, the Company reissued 1.6 million and 1.9 million treasury shares, respectively, for restricted stock award grants, performance share units and issuance of shares vested under the Ameriprise Financial Franchise Advisor Deferred Compensation Plan.

In April 2014, the Company’s shareholders approved an increase of 16.5 million shares to the total number of shares available for all awards under the Amended and Restated Ameriprise Financial 2005 Incentive Compensation Plan (“2005 ICP”). This increases the total shares available to be issued under the 2005 ICP to 54.4 million shares. No more than 4.5 million shares may be issued after April 30, 2014 for full value awards, which are awards other than stock options and stock appreciation rights.