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Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis [Table Text Block]

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



	March 31, 2019
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets
Cash equivalents	$	199	$	2,656	$	—	$	2,855
Available-for-Sale securities:
Corporate debt securities	—		12,091		847		12,938
Residential mortgage backed securities	—		6,264		37		6,301
Commercial mortgage backed securities	—		4,801		—		4,801
Asset backed securities	—		1,297		6		1,303
State and municipal obligations	—		1,424		—		1,424
U.S. government and agency obligations	1,710		—		—		1,710
Foreign government bonds and obligations	—		287		—		287
Total Available-for-Sale securities	1,710		26,164		890		28,764
Equity securities	—		1		—		1
Equity securities at net asset value (“NAV”)							6		⁽¹⁾
Trading securities	11		44		—		55
Separate account assets at NAV							83,571		⁽¹⁾
Investments and cash equivalents segregated for regulatory purposes	232		—		—		232
Other assets:
Interest rate derivative contracts	3		933		—		936
Equity derivative contracts	84		1,941		—		2,025
Foreign exchange derivative contracts	5		46		—		51
Total other assets	92		2,920		—		3,012
Total assets at fair value	$	2,244	$	31,785	$	890	$	118,496



Liabilities
Policyholder account balances, future policy benefits and claims:
Indexed annuity embedded derivatives	$	—	$	3	$	23	$	26
IUL embedded derivatives	—		—		745		745
GMWB and GMAB embedded derivatives	—		—		180		180		⁽²⁾
Total policyholder account balances, future policy benefits and claims	—		3		948		951		⁽³⁾
Customer deposits	—		13		—		13
Other liabilities:
Interest rate derivative contracts	—		366		—		366
Equity derivative contracts	34		2,591		—		2,625
Credit derivative contracts	—		21		—		21
Foreign exchange derivative contracts	1		32		—		33
Other	10		7		31		48
Total other liabilities	45		3,017		31		3,093
Total liabilities at fair value	$	45	$	3,033	$	979	$	4,057



	December 31, 2018
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets
Cash equivalents	$	155	$	2,350	$	—	$	2,505
Available-for-Sale securities:
Corporate debt securities	—		13,153		913		14,066
Residential mortgage backed securities	—		6,193		136		6,329
Commercial mortgage backed securities	—		4,857		20		4,877
Asset backed securities	—		1,392		6		1,398
State and municipal obligations	—		2,345		—		2,345
U.S. government and agency obligations	1,745		—		—		1,745
Foreign government bonds and obligations	—		298		—		298
Total Available-for-Sale securities	1,745		28,238		1,075		31,058
Equity securities	—		1		—		1
Equity securities at NAV							6		⁽¹⁾
Trading securities	36		38		—		74
Separate account assets at NAV							77,925		⁽¹⁾
Investments and cash equivalents segregated for regulatory purposes	301		—		—		301
Other assets:
Interest rate derivative contracts	—		796		—		796
Equity derivative contracts	191		1,527		—		1,718
Foreign exchange derivative contracts	5		55		—		60
Total other assets	196		2,378		—		2,574
Total assets at fair value	$	2,433	$	33,005	$	1,075	$	114,444



Liabilities
Policyholder account balances, future policy benefits and claims:
Indexed annuity embedded derivatives	$	—	$	3	$	14	$	17
IUL embedded derivatives	—		—		628		628
GMWB and GMAB embedded derivatives	—		—		328		328		⁽⁴⁾
Total policyholder account balances, future policy benefits and claims	—		3		970		973		⁽⁵⁾
Customer deposits	—		6		—		6
Other liabilities:
Interest rate derivative contracts	—		424		—		424
Equity derivative contracts	78		2,076		—		2,154
Credit derivative contracts	—		18		—		18
Foreign exchange derivative contracts	4		31		—		35
Other	13		6		30		49
Total other liabilities	95		2,555		30		2,680
Total liabilities at fair value	$	95	$	2,564	$	1,000	$	3,659

⁽¹⁾ Amounts are comprised of certain financial instruments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient and have not been classified in the fair value hierarchy.

⁽²⁾ The fair value of the GMWB and GMAB embedded derivatives included $557 million of individual contracts in a liability position and $377 million of individual contracts in an asset position as of March 31, 2019.


⁽³⁾	The Company’s adjustment for nonperformance risk resulted in a $(536) million cumulative increase (decrease) to the embedded derivatives as of March 31, 2019.


⁽⁴⁾	The fair value of the GMWB and GMAB embedded derivatives included $646 million of individual contracts in a liability position and $318 million of individual contracts in an asset position as of December 31, 2018.


⁽⁵⁾	The Company’s adjustment for nonperformance risk resulted in a $(726) million cumulative increase (decrease) to the embedded derivatives as of December 31, 2018.

Schedule of debt of the consolidated investment entities and the stated interest rates [Table Text Block]

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



	Outstanding Balance						Stated Interest Rate
	March 31, 2019			December 31, 2018			March 31, 2019		December 31, 2018
	(in millions)
Long-term debt:
Senior notes due 2019	$	300		$	300		7.3	%	7.3	%
Senior notes due 2020	750			750			5.3		5.3
Senior notes due 2022	500			—			3.0		—
Senior notes due 2023	750			750			4.0		4.0
Senior notes due 2024	550			550			3.7		3.7
Senior notes due 2026	500			500			2.9		2.9
Finance lease liabilities	55			25
Other ⁽¹⁾	(11		)	(8		)
Total long-term debt	3,394			2,867

Short-term borrowings:
Federal Home Loan Bank (“FHLB”) advances	151			151			2.7		2.6
Repurchase agreements	50			50			2.7		2.6
Total short-term borrowings	201			201
Total	$	3,595		$	3,068

⁽¹⁾ Amounts include adjustments for fair value hedges on the Company’s long-term debt and unamortized discount and debt issuance costs. See Note 13 for information on the Company’s fair value hedges.

Consolidated investment entities [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis [Table Text Block]

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



	March 31, 2019
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets
Investments:
Corporate debt securities	$	—	$	9	$	—	$	9
Common stocks	1		—		—		1
Other investments	4		—		—		4
Syndicated loans	—		1,609		117		1,726
Total investments	5		1,618		117		1,740
Receivables	—		28		—		28
Total assets at fair value	$	5	$	1,646	$	117	$	1,768

Liabilities
Debt ⁽¹⁾	$	—	$	1,731	$	—	$	1,731
Other liabilities	—		105		—		105
Total liabilities at fair value	$	—	$	1,836	$	—	$	1,836



	December 31, 2018
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets
Investments:
Corporate debt securities	$	—	$	9	$	—	$	9
Common stocks	1		1		—		2
Other investments	4		—		—		4
Syndicated loans	—		1,465		226		1,691
Total investments	5		1,475		226		1,706
Receivables	—		12		—		12
Total assets at fair value	$	5	$	1,487	$	226	$	1,718

Liabilities
Debt ⁽¹⁾	$	—	$	1,743	$	—	$	1,743
Other liabilities	—		122		—		122
Total liabilities at fair value	$	—	$	1,865	$	—	$	1,865

⁽¹⁾

The carrying value of the CLOs’ debt is set equal to the fair value of the CLOs’ assets. The estimated fair value of the CLOs’ debt was $1.7 billion as of both March 31, 2019 and December 31, 2018.

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

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



					Syndicated Loans
					(in millions)
Balance, January 1, 2019					$	226
Purchases					22
Sales					(1		)
Settlements					(7		)
Transfers into Level 3					25
Transfers out of Level 3					(148		)
Balance, March 31, 2019					$	117
Changes in unrealized gains (losses) included in income relating to assets held at March 31, 2019					$	—


	Common Stocks				Syndicated Loans
	(in millions)
Balance, January 1, 2018	$	4			$	180
Total gains (losses) included in:
Net income	4			⁽¹⁾	2			⁽¹⁾
Purchases	—				18
Sales	—				(1		)
Settlements	—				(11		)
Transfers into Level 3	4				61
Transfers out of Level 3	(1		)		(49		)
Balance, March 31, 2018	$	11			$	200
Changes in unrealized gains (losses) included in income relating to assets held at March 31, 2018	$	4		⁽¹⁾	$	2		⁽¹⁾

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

Schedule of fair value and unpaid principal balance of assets and liabilities carried at fair value under the fair value option [Table Text Block]

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



	March 31, 2019			December 31, 2018
	(in millions)
Syndicated loans
Unpaid principal balance	$	1,780		$	1,743
Excess unpaid principal over fair value	(54		)	(52		)
Fair value	$	1,726		$	1,691
Fair value of loans more than 90 days past due	$	8		$	—
Fair value of loans in nonaccrual status	8			—
Difference between fair value and unpaid principal of loans more than 90 days past due, loans in nonaccrual status or both	—			—

Debt
Unpaid principal balance	$	1,885		$	1,951
Excess unpaid principal over fair value	(154		)	(208		)
Carrying value ⁽¹⁾	$	1,731		$	1,743

⁽¹⁾ The carrying value of the CLOs’ debt is set equal to the fair value of the CLOs’ assets. The estimated fair value of the CLOs’ debt was $1.7 billion as of both March 31, 2019 and December 31, 2018.

Schedule of debt of the consolidated investment entities and the stated interest rates [Table Text Block]

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



	Carrying Value				Weighted Average Interest Rate
	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
	(in millions)
Debt of consolidated CLOs due 2025-2030	$	1,731	$	1,743	4.0	%	3.7	%