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Variable Interest Entities (Tables)
 6 Months Ended
Jun. 30, 2020
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: 
 June 30, 2020 
Level 1Level 2Level 3Total
(in millions)
Assets
Cash equivalents$3,838  $3,117  $—  $6,955   
Available-for-Sale securities:
Corporate debt securities—  11,953  744  12,697   
Residential mortgage backed securities—  9,751  205  9,956   
Commercial mortgage backed securities—  5,880  —  5,880   
Asset backed securities—  2,798  15  2,813   
State and municipal obligations—  1,365  —  1,365   
U.S. government and agency obligations1,465  —  —  1,465   
Foreign government bonds and obligations—  266  —  266   
Total Available-for-Sale securities1,465  32,013  964  34,442   
Investments at net asset value (“NAV”)7  (1)
Trading and other securities13  27  —  40  
Separate account assets at NAV83,698  (1)
Other assets:
Interest rate derivative contracts—  3,096  —  3,096   
Equity derivative contracts388  2,254  —  2,642   
Credit derivative contracts—  3  —  3  
Foreign exchange derivative contracts1  35  —  36   
Total other assets 389  5,388  —  5,777   
Total assets at fair value$5,705  $40,545  $964  $130,919   

Liabilities
Policyholder account balances, future policy benefits and claims:
Fixed deferred indexed annuity embedded derivatives$—  $3  $41  $44   
IUL embedded derivatives—  —  882  882   
GMWB and GMAB embedded derivatives—  —  3,129  3,129  (2)
Structured variable annuity embedded derivatives—  —  9  9  
Total policyholder account balances, future policy benefits and claims—  3  4,061  4,064  (3)
Customer deposits—  8  —  8   
Other liabilities:
Interest rate derivative contracts—  1,032  —  1,032   
Equity derivative contracts182  2,376  —  2,558   
Credit derivative contracts—  10  —  10  
Foreign exchange derivative contracts3  12  —  15  
Other2  10  48  60   
Total other liabilities187  3,440  48  3,675   
Total liabilities at fair value$187  $3,451  $4,109  $7,747   
 December 31, 2019
 
Level 1Level 2Level 3Total
(in millions)
Assets
Cash equivalents$267  $2,924  $—  $3,191   
Available-for-Sale securities:
Corporate debt securities—  11,437  750  12,187   
Residential mortgage backed securities—  10,012  17  10,029   
Commercial mortgage backed securities—  5,563  —  5,563   
Asset backed securities—  1,987  19  2,006   
State and municipal obligations—  1,367  —  1,367   
U.S. government and agency obligations1,680  —  —  1,680   
Foreign government bonds and obligations—  271  —  271   
Other securities—  26  —  26  
Total Available-for-Sale securities1,680  30,663  786  33,129   
Equity securities1  —  —  1  
Investments at NAV6  (1)
Trading and other securities12  26  —  38   
Separate account assets at NAV87,488  (1)
Investments and cash equivalents segregated for regulatory purposes14  —  —  14  
Other assets:
Interest rate derivative contracts—  1,455  —  1,455   
Equity derivative contracts162  2,722  —  2,884   
Credit derivative contracts—  4  —  4  
Foreign exchange derivative contracts1  17  —  18   
Total other assets163  4,198  —  4,361   
Total assets at fair value$2,137  $37,811  $786  $128,228   

Liabilities
Policyholder account balances, future policy benefits and claims:
Fixed deferred indexed annuity embedded derivatives$—  $3  $43  $46   
IUL embedded derivatives—  —  881  881   
GMWB and GMAB embedded derivatives—  —  763  763  (4)
Total policyholder account balances, future policy benefits and claims—  3  1,687  1,690  (5)
Customer deposits—  14  —  14   
Other liabilities:
Interest rate derivative contracts—  418  —  418   
Equity derivative contracts36  3,062  —  3,098   
Foreign exchange derivative contracts1  8  —  9  
Other6  4  44  54   
Total other liabilities43  3,492  44  3,579   
Total liabilities at fair value$43  $3,509  $1,731  $5,283   
(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 $3.2 billion of individual contracts in a liability position and $25 million of individual contracts in an asset position as of June 30, 2020.
(3) The Company’s adjustment for nonperformance risk resulted in a $(1.2) billion cumulative increase (decrease) to the embedded derivatives as of June 30, 2020.
(4) The fair value of the GMWB and GMAB embedded derivatives included $981 million of individual contracts in a liability position and $218 million of individual contracts in an asset position as of December 31, 2019.
(5) The Company’s adjustment for nonperformance risk resulted in a $(502) million cumulative increase (decrease) to the embedded derivatives as of December 31, 2019.
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, April 1, 2020
$302  
Total gains (losses) included in:
Net income18  (1)
Purchases2  
Sales(8) 
Settlements(16) 
Transfers into Level 3102  
Transfers out of Level 3(189) 
Balance, June 30, 2020
$211  
Changes in unrealized gains (losses) included in income relating to assets held at June 30, 2020
$17  (1)
 Common StocksSyndicated Loans
(in millions)
Balance, April 1, 2019
$—  $117  
Total gains (losses) included in:
Net income—  (1) (1)
Purchases—  27  
Sales—  (7) 
Settlements—  (4) 
Transfers into Level 31  59  
Transfers out of Level 3—  (61) 
Balance, June 30, 2019
$1  $130  
Changes in unrealized gains (losses) included in income relating to assets held at June 30, 2019
$—  $(1) (1)
 Syndicated Loans
(in millions)
Balance, January 1, 2020
$143  
Total gains (losses) included in:
Net income
(21) (1)
Purchases
45  
Sales
(15) 
Settlements
(26) 
Transfers into Level 3
350  
Transfers out of Level 3
(265) 
Balance, June 30, 2020
$211  
Changes in unrealized gains (losses) included in income relating to assets held at June 30, 2020
$3  (1)
 Common StocksSyndicated Loans
(in millions)
Balance, January 1, 2019
$—  $226  
Total gains (losses) included in:
Net income
—  (1) (1)
Purchases
—  49  
Sales
—  (8) 
Settlements
—  (11) 
Transfers into Level 3
1  84  
Transfers out of Level 3
—  (209) 
Balance, June 30, 2019
$1  $130  
Changes in unrealized gains (losses) included in income relating to assets held at June 30, 2019
$—  $(1) (1)
(1) Included in net investment income in the Consolidated Statements of Operations.
Schedule of debt of the consolidated investment entities and the stated interest rates [Table Text Block]
The balances and the stated interest rates of outstanding debt of Ameriprise Financial were as follows: 
 Outstanding BalanceStated Interest Rate
June 30, 2020December 31, 2019June 30, 2020December 31, 2019
(in millions) 
Long-term debt:
Senior notes due 2020$—  $750  — %5.3 %
Senior notes due 2022500  500  3.0  3.0  
Senior notes due 2023750  750  4.0  4.0  
Senior notes due 2024550  550  3.7  3.7  
Senior notes due 2025500  —  3.0  —  
Senior notes due 2026500  500  2.9  2.9  
Finance lease liabilities51  57  N/AN/A
Other (1)
(16) (10) N/AN/A
Total long-term debt2,835  3,097  
Short-term borrowings:
Federal Home Loan Bank (“FHLB”) advances200  201  0.4  1.8  
Total$3,035  $3,298    
(1) Amounts include adjustments for fair value hedges on the Company’s long-term debt and unamortized discount and debt issuance costs. See Note 14 for information on the Company’s fair value hedges.
Variable Interest Entity, Primary Beneficiary [Member]  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis [Table Text Block]
The following tables present the balances of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis:
 June 30, 2020
Level 1Level 2Level 3Total
(in millions)
Assets
Investments:
Corporate debt securities$—  $10  $—  $10  
Syndicated loans—  1,274  211  1,485  
Total investments—  1,284  211  1,495  
Receivables—  20  —  20  
Total assets at fair value$—  $1,304  $211  $1,515  
Liabilities
Debt (1)
$—  $1,489  $—  $1,489  
Other liabilities—  58  —  58  
Total liabilities at fair value$—  $1,547  $—  $1,547  
 December 31, 2019
Level 1Level 2Level 3Total
(in millions)
Assets
Investments:
Corporate debt securities$—  $8  $—  $8  
Common stocks1  —  —  1  
Syndicated loans—  1,454  143  1,597  
Total investments1  1,462  143  1,606  
Receivables—  8  —  8  
Total assets at fair value$1  $1,470  $143  $1,614  
Liabilities
Debt (1)
$—  $1,628  $—  $1,628  
Other liabilities—  84  —  84  
Total liabilities at fair value$—  $1,712  $—  $1,712  
(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 $1.5 billion and $1.7 billion as of June 30, 2020 and December 31, 2019, respectively.
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:
 June 30, 2020December 31, 2019
(in millions)
Syndicated loans
Unpaid principal balance$1,655  $1,678  
Excess unpaid principal over fair value(170) (81) 
Fair value$1,485  $1,597  
Fair value of loans more than 90 days past due$12  $4  
Fair value of loans in nonaccrual status32  42  
Difference between fair value and unpaid principal of loans more than 90 days past due, loans in nonaccrual status or both
48  18  
Debt
Unpaid principal balance$1,723  $1,761  
Excess unpaid principal over fair value(234) (133) 
Carrying value (1)
$1,489  $1,628  
(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 $1.5 billion and $1.7 billion as of June 30, 2020 and December 31, 2019, respectively.
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 ValueWeighted Average
Interest Rate
June 30, 2020December 31, 2019June 30, 2020December 31, 2019
(in millions) 
Debt of consolidated CLOs due 2025-2030$1,489  $1,628  2.5 %3.5 %