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Investments
 12 Months Ended
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Investments [Text Block]
Investments
The following is a summary of Ameriprise Financial investments:
 
December 31,
 
2015
 
2014
 
(in millions)
Available-for-Sale securities, at fair value
$
28,673

 
$
30,027

Mortgage loans, net
3,359

 
3,440

Policy and certificate loans
824

 
806

Other investments
1,288

 
1,309

Total
$
34,144

 
$
35,582


The following is a summary of net investment income:
 
Years Ended December 31,
 
2015
 
2014
 
2013
 
(in millions)
Investment income on fixed maturities
$
1,403

 
$
1,479

 
$
1,575

Net realized gains
4

 
37

 
7

Affordable housing partnerships
(18
)
 
(25
)
 
(12
)
Other
68

 
93

 
99

Consolidated investment entities
231

 
157

 
220

Total
$
1,688

 
$
1,741

 
$
1,889


Available-for-Sale securities distributed by type were as follows:
 
 
December 31, 2015
Description of Securities
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
Noncredit
OTTI (1)
 
 
(in millions)
Corporate debt securities
 
$
15,750

 
$
894

 
$
(296
)
 
$
16,348

 
$
3

Residential mortgage backed securities
 
5,933

 
106

 
(66
)
 
5,973

 
(12
)
Commercial mortgage backed securities
 
2,400

 
70

 
(14
)
 
2,456

 
—

Asset backed securities
 
1,273

 
34

 
(11
)
 
1,296

 
—

State and municipal obligations
 
2,105

 
213

 
(28
)
 
2,290

 
—

U.S. government and agencies obligations
 
66

 
2

 
—

 
68

 
—

Foreign government bonds and obligations
 
218

 
17

 
(11
)
 
224

 
—

Common stocks
 
7

 
11

 
—

 
18

 
5

Total
 
$
27,752

 
$
1,347

 
$
(426
)
 
$
28,673

 
$
(4
)
 
 
December 31, 2014
Description of Securities
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
Noncredit
OTTI (1)
 
 
(in millions)
Corporate debt securities
 
$
15,742

 
$
1,482

 
$
(59
)
 
$
17,165

 
$
3

Residential mortgage backed securities
 
6,099

 
168

 
(60
)
 
6,207

 
(15
)
Commercial mortgage backed securities
 
2,513

 
120

 
(3
)
 
2,630

 
—

Asset backed securities
 
1,417

 
59

 
(6
)
 
1,470

 
—

State and municipal obligations
 
2,008

 
257

 
(26
)
 
2,239

 
—

U.S. government and agencies obligations
 
43

 
4

 
—

 
47

 
—

Foreign government bonds and obligations
 
236

 
21

 
(6
)
 
251

 
—

Common stocks
 
8

 
10

 
—

 
18

 
5

Total
 
$
28,066

 
$
2,121

 
$
(160
)
 
$
30,027

 
$
(7
)
(1)  Represents the amount of other-than-temporary impairment (“OTTI”) losses in AOCI. Amount includes unrealized gains and losses on impaired securities subsequent to the initial impairment measurement date. These amounts are included in gross unrealized gains and losses as of the end of the period.
As of December 31, 2015 and 2014, investment securities with a fair value of $1.0 billion and $1.3 billion, respectively, were pledged to meet contractual obligations under derivative contracts and short-term borrowings, of which $478 million and $769 million, respectively, may be sold, pledged or rehypothecated by the counterparty.
At both December 31, 2015 and 2014, fixed maturity securities comprised approximately 84% of Ameriprise Financial investments. Rating agency designations are based on the availability of ratings from Nationally Recognized Statistical Rating Organizations (“NRSROs”), including Moody’s Investors Service (“Moody’s”), Standard & Poor’s Ratings Services (“S&P”) and Fitch Ratings Ltd. (“Fitch”). The Company uses the median of available ratings from Moody’s, S&P and Fitch, or, if fewer than three ratings are available, the lower rating is used. When ratings from Moody’s, S&P and Fitch are unavailable, the Company may utilize ratings from other NRSROs or rate the securities internally. As of December 31, 2015 and 2014, the Company’s internal analysts rated $1.3 billion and $1.4 billion, respectively, of securities using criteria similar to those used by NRSROs.
A summary of fixed maturity securities by rating was as follows:
 
 
December 31, 2015
 
December 31, 2014
Ratings
 
Amortized
Cost
 
Fair Value
 
Percent of
Total Fair
Value
 
Amortized
Cost
 
Fair Value
 
Percent of
Total Fair
Value
 
 
(in millions, except percentages)
AAA
 
$
7,147

 
$
7,289

 
25
%
 
$
7,500

 
$
7,776

 
26
%
AA
 
1,732

 
1,930

 
7

 
1,581

 
1,799

 
6

A
 
5,131

 
5,507

 
19

 
6,028

 
6,668

 
22

BBB
 
12,052

 
12,353

 
43

 
11,187

 
12,025

 
40

Below investment grade
 
1,683

 
1,576

 
6

 
1,762

 
1,741

 
6

Total fixed maturities
 
$
27,745

 
$
28,655

 
100
%
 
$
28,058

 
$
30,009

 
100
%

At December 31, 2015 and 2014, approximately 53% and 52%, respectively, of the securities rated AAA were GNMA, FNMA and FHLMC mortgage backed securities. No holdings of any other issuer were greater than 10% of total equity.
The following tables provide information about Available-for-Sale securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position:
 
 
December 31, 2015
 
 
Less than 12 months
 
12 months or more
 
Total
Description of Securities
 
Number of
Securities
 
Fair
Value
 
Unrealized
Losses
 
Number of
Securities
 
Fair
Value
 
Unrealized
Losses
 
Number of
Securities
 
Fair
Value
 
Unrealized
Losses
 
 
(in millions, except number of securities)
Corporate debt securities
347

 
$
5,150

 
$
(220
)
 
48

 
$
454

 
$
(76
)
 
395

 
$
5,604

 
$
(296
)
Residential mortgage backed securities
123

 
1,869

 
(16
)
 
164

 
1,350

 
(50
)
 
287

 
3,219

 
(66
)
Commercial mortgage backed securities
58

 
695

 
(13
)
 
4

 
49

 
(1
)
 
62

 
744

 
(14
)
Asset backed securities
50

 
455

 
(7
)
 
14

 
254

 
(4
)
 
64

 
709

 
(11
)
State and municipal obligations
31

 
100

 
(1
)
 
5

 
110

 
(27
)
 
36

 
210

 
(28
)
Foreign government bonds and obligations
9

 
39

 
(2
)
 
15

 
27

 
(9
)
 
24

 
66

 
(11
)
Total
618

 
$
8,308

 
$
(259
)
 
250

 
$
2,244

 
$
(167
)
 
868

 
$
10,552

 
$
(426
)
 
 
December 31, 2014
 
 
Less than 12 months
 
12 months or more
 
Total
Description of Securities
 
Number of
Securities
 
Fair
Value
 
Unrealized
Losses
 
Number of
Securities
 
Fair
Value
 
Unrealized
Losses
 
Number of
Securities
 
Fair
Value
 
Unrealized
Losses
 
 
(in millions, except number of securities)
Corporate debt securities
182

 
$
2,165

 
$
(41
)
 
40

 
$
689

 
$
(18
)
 
222

 
$
2,854

 
$
(59
)
Residential mortgage backed securities
73

 
879

 
(7
)
 
138

 
1,387

 
(53
)
 
211

 
2,266

 
(60
)
Commercial mortgage backed securities
15

 
173

 
—

 
12

 
131

 
(3
)
 
27

 
304

 
(3
)
Asset backed securities
17

 
201

 
(2
)
 
14

 
238

 
(4
)
 
31

 
439

 
(6
)
State and municipal obligations
11

 
29

 
(1
)
 
10

 
115

 
(25
)
 
21

 
144

 
(26
)
Foreign government bonds and obligations
4

 
10

 
(1
)
 
14

 
27

 
(5
)
 
18

 
37

 
(6
)
Total
302

 
$
3,457

 
$
(52
)
 
228

 
$
2,587

 
$
(108
)
 
530

 
$
6,044

 
$
(160
)

As part of Ameriprise Financial’s ongoing monitoring process, management determined that the change in gross unrealized losses on its Available-for-Sale securities is primarily attributable to a widening of credit spreads.
The following table presents a rollforward of the cumulative amounts recognized in the Consolidated Statements of Operations for other-than-temporary impairments related to credit losses on Available-for-Sale securities for which a portion of the securities’ total other-than-temporary impairments was recognized in other comprehensive income (loss):
 
December 31,
 
2015
 
2014
 
2013
 
(in millions)
Beginning balance
$
98

 
$
147

 
$
176

Credit losses for which an other-than-temporary impairment was not previously recognized
—

 
—

 
2

Credit losses for which an other-than-temporary impairment was previously recognized
2

 
1

 
7

Reductions for securities sold during the period (realized)
(15
)
 
(50
)
 
(38
)
Ending balance
$
85

 
$
98

 
$
147


Net realized gains and losses on Available-for-Sale securities, determined using the specific identification method, recognized in earnings were as follows:
 
Years Ended December 31,
 
2015
 
2014
 
2013
 
(in millions)
Gross realized gains
$
33

 
$
53

 
$
17

Gross realized losses
(19
)
 
(8
)
 
(1
)
Other-than-temporary impairments
(8
)
 
(6
)
 
(9
)
Total
$
6

 
$
39

 
$
7


Other-than-temporary impairments for the years ended December 31, 2015 and 2014 primarily related to credit losses on corporate debt securities and non-agency residential mortgage backed securities. Other-than-temporary impairments for the year ended December 31, 2013 primarily related to credit losses on non-agency residential mortgage backed securities.
See Note 18 for a rollforward of net unrealized investment gains (losses) included in AOCI.
Available-for-Sale securities by contractual maturity at December 31, 2015 were as follows:
 
Amortized Cost
 
Fair Value
 
(in millions)
Due within one year
$
1,485

 
$
1,496

Due after one year through five years
6,754

 
7,053

Due after five years through 10 years
5,382

 
5,371

Due after 10 years
4,518

 
5,010

 
18,139

 
18,930

Residential mortgage backed securities
5,933

 
5,973

Commercial mortgage backed securities
2,400

 
2,456

Asset backed securities
1,273

 
1,296

Common stocks
7

 
18

Total
$
27,752

 
$
28,673


Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Residential mortgage backed securities, commercial mortgage backed securities and asset backed securities are not due at a single maturity date. As such, these securities, as well as common stocks, were not included in the maturities distribution.