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Variable Interest Entities (Tables)
 9 Months Ended
Sep. 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: 
 September 30, 2020 
Level 1Level 2Level 3Total
(in millions)
Assets
Cash equivalents$3,171 $3,115 $— $6,286  
Available-for-Sale securities:
Corporate debt securities— 12,280 742 13,022  
Residential mortgage backed securities— 10,208 50 10,258  
Commercial mortgage backed securities— 6,212 — 6,212  
Asset backed securities— 3,058 30 3,088  
State and municipal obligations— 1,380 — 1,380  
U.S. government and agency obligations1,680 — — 1,680  
Foreign government bonds and obligations— 267 — 267  
Other securities— 52 — 52 
Total Available-for-Sale securities1,680 33,457 822 35,959  
Investments at net asset value (“NAV”)7 (1)
Trading and other securities10 25 — 35 
Separate account assets at NAV86,128 (1)
Other assets:
Interest rate derivative contracts— 2,015 — 2,015  
Equity derivative contracts442 2,990 — 3,432  
Credit derivative contracts— 5 — 5 
Foreign exchange derivative contracts— 36 — 36  
Total other assets 442 5,046 — 5,488  
Total assets at fair value$5,303 $41,643 $822 $133,903  
Liabilities
Policyholder account balances, future policy benefits and claims:
Fixed deferred indexed annuity embedded derivatives$— $3 $44 $47  
IUL embedded derivatives— — 926 926  
GMWB and GMAB embedded derivatives— — 2,943 2,943 (2)
Structured variable annuity embedded derivatives— — 9 9 
Total policyholder account balances, future policy benefits and claims— 3 3,922 3,925 (3)
Customer deposits— 8 — 8  
Other liabilities:
Interest rate derivative contracts— 934 — 934  
Equity derivative contracts168 2,840 — 3,008  
Foreign exchange derivative contracts2 5 — 7 
Other2 7 40 49  
Total other liabilities172 3,786 40 3,998  
Total liabilities at fair value$172 $3,797 $3,962 $7,931  
 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 $3.0 billion of individual contracts in a liability position and $36 million of individual contracts in an asset position as of September 30, 2020.
(3) The Company’s adjustment for nonperformance risk resulted in a $(1.0) billion cumulative increase (decrease) to the embedded derivatives as of September 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, July 1, 2020
$211 
Total gains (losses) included in:
Net income2 (1)
Purchases35 
Sales(12)
Settlements(6)
Transfers into Level 329 
Transfers out of Level 3(141)
Balance, September 30, 2020
$118 
Changes in unrealized gains (losses) included in income relating to assets held at September 30, 2020
$1 (1)
 Common StocksSyndicated Loans
(in millions)
Balance, July 1, 2019
$1 $130 
Total gains (losses) included in:
Net income— — 
Purchases— 26 
Settlements— (25)
Transfers into Level 3— 81 
Transfers out of Level 3(1)(77)
Balance, September 30, 2019
$— $135 
Changes in unrealized gains (losses) included in income relating to assets held at September 30, 2019
$— $(1)(1)
 Syndicated Loans
(in millions)
Balance, January 1, 2020
$143 
Total gains (losses) included in:
Net income
(19)(1)
Purchases
80 
Sales
(27)
Settlements
(32)
Transfers into Level 3
379 
Transfers out of Level 3
(406)
Balance, September 30, 2020
$118 
Changes in unrealized gains (losses) included in income relating to assets held at September 30, 2020
$(2)(1)
 Common StocksSyndicated Loans
(in millions)
Balance, January 1, 2019
$— $226 
Total gains (losses) included in:
Net income
— (1)(1)
Purchases
— 75 
Sales
— (8)
Settlements
— (36)
Transfers into Level 3
1 165 
Transfers out of Level 3
(1)(286)
Balance, September 30, 2019
$— $135 
Changes in unrealized gains (losses) included in income relating to assets held at September 30, 2019
$— $(2)(1)
(1) Included in net investment income in the Consolidated Statements of Operations.
Schedule of debt of the consolidated investment entities and the stated interest rates [Table Text Block]
The balances and the stated interest rates of outstanding debt of Ameriprise Financial were as follows: 
 Outstanding BalanceStated Interest Rate
September 30, 2020December 31, 2019September 30, 2020December 31, 2019
(in millions) 
Long-term debt:
Senior notes due 2020$— $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 liabilities47 57 N/AN/A
Other (1)
(14)(10)N/AN/A
Total long-term debt2,833 3,097 
Short-term borrowings:
Federal Home Loan Bank (“FHLB”) advances200 201 0.4 1.8 
Total$3,033 $3,298   
(1) Amounts include adjustments for fair value hedges on the Company’s long-term debt and unamortized discount and debt issuance costs. See Note 14 for information on the Company’s fair value hedges.
Variable Interest Entity, Primary Beneficiary [Member]  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis [Table Text Block]
The following tables present the balances of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis:
 September 30, 2020
Level 1Level 2Level 3Total
(in millions)
Assets
Investments:
Corporate debt securities$— $14 $— $14 
Common stocks— 2 — 2 
Syndicated loans— 1,769 118 1,887 
Total investments— 1,785 118 1,903 
Receivables— 9 — 9 
Total assets at fair value$— $1,794 $118 $1,912 
Liabilities
Debt (1)
$— $1,901 $— $1,901 
Other liabilities— 220 — 220 
Total liabilities at fair value$— $2,121 $— $2,121 
 December 31, 2019
Level 1Level 2Level 3Total
(in millions)
Assets
Investments:
Corporate debt securities$— $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 $1.9 billion and $1.7 billion as of September 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:
 September 30, 2020December 31, 2019
(in millions)
Syndicated loans
Unpaid principal balance$2,005 $1,678 
Excess unpaid principal over fair value(118)(81)
Fair value$1,887 $1,597 
Fair value of loans more than 90 days past due$4 $4 
Fair value of loans in nonaccrual status22 42 
Difference between fair value and unpaid principal of loans more than 90 days past due, loans in nonaccrual status or both
30 18 
Debt
Unpaid principal balance$2,089 $1,761 
Excess unpaid principal over fair value(188)(133)
Carrying value (1)
$1,901 $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 $1.9 billion and $1.7 billion as of September 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
September 30, 2020December 31, 2019September 30, 2020December 31, 2019
(in millions) 
Debt of consolidated CLOs due 2025-2031$1,901 $1,628 2.1 %3.5 %