Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2014

Consolidated Investment Entities [Abstract].

Schedule of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis

The following tables present the balances of assets and liabilities of Ameriprise Financial measured at fair value on a recurring basis:



	December 31, 2014
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets
Cash equivalents	$	27	$	1,930	$	—	$	1,957
Available-for-Sale securities:
Corporate debt securities	—		15,647		1,518		17,165
Residential mortgage backed securities	—		6,001		206		6,207
Commercial mortgage backed securities	—		2,539		91		2,630
Asset backed securities	—		1,301		169		1,470
State and municipal obligations	—		2,239		—		2,239
U.S. government and agencies obligations	12		35		—		47
Foreign government bonds and obligations	—		251		—		251
Common stocks	5		7		6		18
Total Available-for-Sale securities	17		28,020		1,990		30,027
Trading securities	54		28		1		83
Separate account assets	—		83,256		—		83,256
Other assets:
Interest rate derivative contracts	—		2,031		—		2,031
Equity derivative contracts	282		1,757		—		2,039
Foreign exchange derivative contracts	1		29		—		30
Other derivative contracts	—		1		—		1
Total other assets	283		3,818		—		4,101
Total assets at fair value	$	381	$	117,052	$	1,991	$	119,424

Liabilities
Policyholder account balances, future policy benefits and claims:
EIA embedded derivatives	$	—	$	6	$	—	$	6
IUL embedded derivatives	—		—		242		242
GMWB and GMAB embedded derivatives	—		—		479		479		⁽²⁾
Total policyholder account balances, future policy benefits and claims	—		6		721		727		⁽¹⁾
Customer deposits	—		6		—		6
Other liabilities:
Interest rate derivative contracts	—		1,136		—		1,136
Equity derivative contracts	376		2,326		—		2,702
Foreign exchange derivative contracts	1		2		—		3
Other derivative contracts	—		114		—		114
Other	—		12		—		12
Total other liabilities	377		3,590		—		3,967
Total liabilities at fair value	$	377	$	3,602	$	721	$	4,700

⁽¹⁾ The Company’s adjustment for nonperformance risk resulted in a $311 million cumulative decrease to the embedded derivatives.

⁽²⁾The fair value of the GMWB and GMAB embedded derivatives included $700 million of individual contracts in a liability position and $221 million of individual contracts in an asset position.



	December 31, 2013
	Level 1		Level 2		Level 3			Total
	(in millions)
Assets
Cash equivalents	$	12	$	1,841	$	—		$	1,853
Available-for-Sale securities:
Corporate debt securities	—		15,826		1,640			17,466
Residential mortgage backed securities	—		5,937		187			6,124
Commercial mortgage backed securities	—		2,711		30			2,741
Asset backed securities	—		1,244		260			1,504
State and municipal obligations	—		2,160		—			2,160
U.S. government and agencies obligations	17		35		—			52
Foreign government bonds and obligations	—		245		—			245
Common stocks	5		7		6			18
Total Available-for-Sale securities	22		28,165		2,123			30,310
Trading securities	3		32		2			37
Separate account assets	—		81,223		—			81,223
Other assets:
Interest rate derivative contracts	—		1,566		—			1,566
Equity derivative contracts	265		1,576		—			1,841
Credit derivative contracts	—		3		—			3
Foreign exchange derivative contracts	2		2		—			4
Other derivative contracts	—		4		—			4
Total other assets	267		3,151		—			3,418
Total assets at fair value	$	304	$	114,412	$	2,125		$	116,841

Liabilities
Policyholder account balances, future policy benefits and claims:
EIA embedded derivatives	$	—	$	5	$	—		$	5
IUL embedded derivatives	—		—		125			125
GMWB and GMAB embedded derivatives	—		—		(575		)	(575		)	⁽²⁾
Total policyholder account balances, future policy benefits and claims	—		5		(450		)	(445		)	⁽¹⁾
Customer deposits	—		7		—			7
Other liabilities:
Interest rate derivative contracts	—		1,672		—			1,672
Equity derivative contracts	550		2,447		—			2,997
Other derivative contracts	—		139		—			139
Other	—		12		—			12
Total other liabilities	550		4,270		—			4,820
Total liabilities at fair value	$	550	$	4,282	$	(450	)	$	4,382

⁽¹⁾The Company’s adjustment for nonperformance risk resulted in a $150 million cumulative increase to the embedded derivatives.

⁽²⁾The fair value of the GMWB and GMAB embedded derivatives was reported as a contra liability, including $742 million of individual contracts in an asset position and $167 million of individual contracts in a liability position.

Schedule of debt of the consolidated investment entities and the stated interest rates

The balances and the stated interest rates of outstanding debt of Ameriprise Financial were as follows:



	Outstanding Balance						Stated Interest Rate
	December 31,						December 31,
	2014			2013			2014		2013
	(in millions)
Long-term debt:
Senior notes due 2015	$	358	⁽¹⁾	$	366	⁽¹⁾	5.7	%	5.7	%
Senior notes due 2019	326		⁽¹⁾	327		⁽¹⁾	7.3		7.3
Senior notes due 2020	786		⁽¹⁾	783		⁽¹⁾	5.3		5.3
Senior notes due 2023	750			750			4.0		4.0
Senior notes due 2024	548			—			3.7		—
Senior notes due 2039	—			200			—		7.8
Junior subordinated notes due 2066	294			294			7.5		7.5
Total long-term debt	3,062			2,720
Short-term borrowings:
Federal Home Loan Bank (“FHLB”) advances	150			450			0.3		0.3
Repurchase agreements	50			50			0.4		0.3
Total short-term borrowings	200			500
Total	$	3,262		$	3,220

⁽¹⁾ Amounts include adjustments for fair value hedges on the Company’s long-term debt. See Note 16 for information on the Company’s fair value hedges.

Schedule of maturities of long-term debt

At December 31, 2014, future maturities of Ameriprise Financial long-term debt were as follows:



	(in millions)
2015	$	350
2016	—
2017	—
2018	—
2019	300
Thereafter	2,344
Total future maturities	$	2,994

Consolidated investment entities [Member]

Consolidated Investment Entities [Abstract].

Schedule of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis

The following tables present the balances of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis:



	December 31, 2014
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets
Investments:
Corporate debt securities	$	—	$	171	$	—	$	171
Common stocks	130		40		7		177
Other investments	4		25		—		29
Syndicated loans	—		5,287		484		5,771
Total investments	134		5,523		491		6,148
Receivables	—		49		—		49
Other assets	—		1		1,935		1,936
Total assets at fair value	$	134	$	5,573	$	2,426	$	8,133

Liabilities
Debt	$	—	$	—	$	6,030	$	6,030
Other liabilities	—		193		—		193
Total liabilities at fair value	$	—	$	193	$	6,030	$	6,223



	December 31, 2013
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets
Investments:
Corporate debt securities	$	—	$	200	$	2	$	202
Common stocks	147		31		14		192
Other investments	3		33		—		36
Syndicated loans	—		4,204		368		4,572
Total investments	150		4,468		384		5,002
Receivables	—		32		—		32
Other assets	—		13		1,936		1,949
Total assets at fair value	$	150	$	4,513	$	2,320	$	6,983

Liabilities
Debt	$	—	$	—	$	4,804	$	4,804
Other liabilities	—		193		—		193
Total liabilities at fair value	$	—	$	193	$	4,804	$	4,997

Schedule of changes in Level 3 assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis

The following tables provide a summary of changes in Level 3 assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis:



	Corporate Debt Securities				Common Stocks				Syndicated Loans				Other Assets				Debt
	(in millions)
Balance, January 1, 2014	$	2			$	14			$	368			$	1,936			$	(4,804	)
Total gains (losses) included in:
Net income	1			⁽¹⁾	1			⁽¹⁾	2			⁽¹⁾	421			⁽²⁾	(34		)	⁽¹⁾
Other comprehensive income	—				—				—				(175		)		—
Purchases	2				—				417				289				—
Sales	(9		)		(2		)		(42		)		(547		)		—
Issues	—				—				—				—				(1,670		)
Settlements	—				—				(100		)		—				478
Transfers into Level 3	10				13				551				11				—
Transfers out of Level 3	(6		)		(19		)		(712		)		—				—
Balance, December 31, 2014	$	—			$	7			$	484			$	1,935			$	(6,030	)
Changes in unrealized gains (losses) included in income relating to assets and liabilities held at December 31, 2014	$	—			$	—			$	(3	)	⁽¹⁾	$	362		⁽²⁾	$	1		⁽¹⁾

⁽¹⁾ Included in net investment income in the Consolidated Statements of Operations.

⁽²⁾ Included in other revenues in the Consolidated Statements of Operations.



	Corporate Debt Securities			Common Stocks				Syndicated Loans				Other Assets				Debt
	(in millions)
Balance, January 1, 2013	$	3		$	14			$	202			$	1,214			$	(4,450	)
Total gains (losses) included in:
Net income	—			1			⁽¹⁾	(1		)	⁽¹⁾	81			⁽²⁾	(53		)	⁽¹⁾
Other comprehensive loss	—			—				—				39				—
Purchases	1			—				417				689				—
Sales	(1		)	(3		)		(63		)		(86		)		—
Issues	—			—				—				—				(1,330		)
Settlements	(1		)	—				(51		)		—				1,029
Transfers into Level 3	—			21				320				8				—
Transfers out of Level 3	—			(19		)		(456		)		(9		)		—
Balance, December 31, 2013	$	2		$	14			$	368			$	1,936			$	(4,804	)
Changes in unrealized gains (losses) included in income relating to assets and liabilities held at December 31, 2013	$	—		$	(2	)	⁽¹⁾	$	(2	)	⁽¹⁾	$	67		⁽²⁾	$	(25	)	⁽¹⁾

⁽¹⁾ Included in net investment income in the Consolidated Statements of Operations.

⁽²⁾ Included in other revenues in the Consolidated Statements of Operations.



	Corporate Debt Securities			Common Stocks				Syndicated Loans				Other Assets				Debt
	(in millions)
Balance, January 1, 2012	$	4		$	13			$	342			$	1,108			$	(4,712	)
Total gains (losses) included in:
Net income	—			(1		)	⁽¹⁾	11			⁽¹⁾	(78		)	⁽²⁾	(316		)	⁽¹⁾
Other comprehensive income	—			—				—				28				—
Purchases	—			7				91				328				—
Sales	—			(5		)		(14		)		(172		)		—
Settlements	(1		)	—				(87		)		—				578
Transfers into Level 3	—			15				255				—				—
Transfers out of Level 3	—			(15		)		(396		)		—				—
Balance, December 31, 2012	$	3		$	14			$	202			$	1,214			$	(4,450	)
Changes in unrealized losses included in income relating to assets and liabilities held at December 31, 2012	$	—		$	—			$	—			$	(98	)	⁽²⁾	$	(315	)	⁽¹⁾

Significant unobservable inputs used in the fair value measurements of assets and liabilities held by consolidated investment entities

he following tables provide a summary of the significant unobservable inputs used in the fair value measurements developed by the Company or reasonably available to the Company of Level 3 assets and liabilities held by consolidated investment entities:



	December 31, 2014
	Fair Value		Valuation Technique	Unobservable Input	Range				Weighted Average
	(in millions)
Other assets (property funds)	$	1,935	Discounted cash flow/ market comparables	Equivalent yield	4.4	%	–	12.0%	6.5	%
				Expected rental value (per square foot)	$3		–	$94	$34
CLO debt	$	6,030	Discounted cash flow	Annual default rate	2.5%
				Discount rate	1.2	%	–	8.3%	2.4	%
				Constant prepayment rate	5.0	%	–	10.0%	9.8	%
				Loss recovery	36.4	%	–	63.6%	62.7	%



	December 31, 2013
	Fair Value		Valuation Technique	Unobservable Input	Range				Weighted Average
	(in millions)
Other assets (property funds)	$	1,936	Discounted cash flow/ market comparables	Equivalent yield	4.4	%	–	12.4%	7.4	%
				Expected rental value (per square foot) ⁽¹⁾	$3		–	$165	$27
CLO debt	$	4,804	Discounted cash flow	Annual default rate	2.5%
				Discount rate	1.5	%	–	8.3%	2.7	%
				Constant prepayment rate	5.0	%	–	10.0%	9.8	%
				Loss recovery	36.4	%	–	63.6%	62.3	%

Schedule of fair value and unpaid principal balance of assets and liabilities carried at fair value under the fair value option

The following table presents the fair value and unpaid principal balance of loans and debt for which the fair value option has been elected:



	December 31,
	2014			2013
	(in millions)
Syndicated loans
Unpaid principal balance	$	5,871		$	4,628
Excess unpaid principal over fair value	(100		)	(56		)
Fair value	$	5,771		$	4,572
Fair value of loans more than 90 days past due	$	32		$	23
Fair value of loans in nonaccrual status	32			23
Difference between fair value and unpaid principal of loans more than 90 days past due, loans in nonaccrual status or both	25			33
Debt
Unpaid principal balance	$	6,248		$	5,032
Excess unpaid principal over fair value	(218		)	(228		)
Fair value	$	6,030		$	4,804

Schedule of debt of the consolidated investment entities and the stated interest rates

Debt of the consolidated investment entities and the stated interest rates were as follows:



	Carrying Value				Weighted Average Interest Rate
	December 31,				December 31,
	2014		2013		2014		2013
	(in millions)
Debt of consolidated CLOs due 2016-2026	$	6,030	$	4,804	1.3	%	1.0	%
Floating rate revolving credit borrowings due 2015-2019	837		932		2.7		3.2
Total	$	6,867	$	5,736

Schedule of maturities of long-term debt

At December 31, 2014, future maturities of debt were as follows:



	(in millions)
2015	$	21
2016	181
2017	363
2018	398
2019	1,404
Thereafter	4,718
Total future maturities	$	7,085

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

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