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Variable Interest Entities (Tables)
 3 Months Ended
Mar. 31, 2021
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, 2021 
Level 1Level 2Level 3Total
(in millions)
Assets
Cash equivalents$1,875 $2,599 $— $4,474  
Available-for-Sale securities:
Corporate debt securities— 12,491 812 13,303  
Residential mortgage backed securities— 9,955 87 10,042  
Commercial mortgage backed securities— 6,037 — 6,037  
Asset backed securities— 3,455 30 3,485  
State and municipal obligations— 1,298 — 1,298  
U.S. government and agency obligations1,326 — — 1,326  
Foreign government bonds and obligations— 247 — 247  
Other securities— 94 — 94 
Total Available-for-Sale securities1,326 33,577 929 35,832  
Investments at net asset value (“NAV”)8 (1)
Trading and other securities61 17 — 78 
Separate account assets at NAV93,483 (1)
Investments and cash equivalents segregated for regulatory purposes815 — — 815 
Other assets:
Interest rate derivative contracts— 1,003 — 1,003  
Equity derivative contracts334 3,609 — 3,943  
Credit derivative contracts— 26 — 26 
Foreign exchange derivative contracts1 17 — 18  
Total other assets 335 4,655 — 4,990  
Total assets at fair value$4,412 $40,848 $929 $139,680  
Liabilities
Policyholder account balances, future policy benefits and claims:
Fixed deferred indexed annuity embedded derivatives$— $4 $52 $56  
IUL embedded derivatives— — 949 949  
GMWB and GMAB embedded derivatives— — 715 715 (2)
Structured variable annuity embedded derivatives— — 124 124 
Total policyholder account balances, future policy benefits and claims— 4 1,840 1,844 (3)
Customer deposits— 7 — 7  
Other liabilities:
Interest rate derivative contracts1 485 — 486  
Equity derivative contracts149 3,204 — 3,353  
Foreign exchange derivative contracts1 5 — 6 
Other3 7 43 53  
Total other liabilities154 3,701 43 3,898  
Total liabilities at fair value$154 $3,712 $1,883 $5,749  
 December 31, 2020
 
Level 1Level 2Level 3Total
(in millions)
Assets
Cash equivalents$2,935 $2,506 $— $5,441  
Available-for-Sale securities:
Corporate debt securities— 12,902 772 13,674  
Residential mortgage backed securities— 10,020 9 10,029  
Commercial mortgage backed securities— 6,088 — 6,088  
Asset backed securities— 3,297 32 3,329  
State and municipal obligations— 1,384 — 1,384  
U.S. government and agency obligations1,456 — — 1,456  
Foreign government bonds and obligations— 262 — 262  
Other securities— 61 — 61 
Total Available-for-Sale securities1,456 34,014 813 36,283  
Investments at NAV$8 (1)
Trading and other securities61 27 — $88  
Separate account assets at NAV92,611 (1)
Investments and cash equivalents segregated for regulatory purposes600 — — 600 
Other assets:
Interest rate derivative contracts1 1,754 — 1,755  
Equity derivative contracts408 3,682 — 4,090  
Credit derivative contracts— 2 — 2 
Foreign exchange derivative contracts1 22 — 23  
Total other assets410 5,460 — 5,870  
Total assets at fair value$5,462 $42,007 $813 $140,901  
Liabilities
Policyholder account balances, future policy benefits and claims:
Fixed deferred indexed annuity embedded derivatives$— $3 $49 $52  
IUL embedded derivatives— — 935 935  
GMWB and GMAB embedded derivatives— — 2,316 2,316 (4)
Structured variable annuity embedded derivatives— — 70 70 
Total policyholder account balances, future policy benefits and claims— 3 3,370 3,373 (5)
Customer deposits— 8 — 8  
Other liabilities:
Interest rate derivative contracts— 734 — 734  
Equity derivative contracts183 3,388 — 3,571  
Credit derivative contracts— 1 — 1 
Foreign exchange derivative contracts2 4 — 6 
Other2 3 43 48  
Total other liabilities187 4,130 43 4,360  
Total liabilities at fair value$187 $4,141 $3,413 $7,741  
(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 $980 million of individual contracts in a liability position and $265 million of individual contracts in an asset position (recorded as a contra liability) as of March 31, 2021.
(3) The Company’s adjustment for nonperformance risk resulted in a $500 million cumulative decrease to the embedded derivatives as of March 31, 2021.
(4) The fair value of the GMWB and GMAB embedded derivatives included $2.4 billion of individual contracts in a liability position and $67 million of individual contracts in an asset position (recorded as a contra liability) as of December 31, 2020.
(5) The Company’s adjustment for nonperformance risk resulted in a $727 million cumulative decrease to the embedded derivatives as of December 31, 2020.
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
March 31, 2021December 31, 2020March 31, 2021December 31, 2020
(in millions) 
Long-term debt:
Senior notes due 2022$500 $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 500 3.0 3.0 
Senior notes due 2026500 500 2.9 2.9 
Finance lease liabilities46 44 N/AN/A
Other(12)(13)N/AN/A
Total long-term debt2,834 2,831 
Short-term borrowings:
Federal Home Loan Bank (“FHLB”) advances200 200 0.3 0.4 
Total$3,034 $3,031   
Variable Interest Entity, Primary Beneficiary [Member]  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis [Table Text Block]
The following tables present the balances of assets and liabilities held by consolidated investment entities measured at fair value on a recurring basis:
 March 31, 2021
Level 1Level 2Level 3Total
(in millions)
Assets
Investments:
Common stocks$— $2 $— $2 
Syndicated loans— 2,485 155 2,640 
Total investments— 2,487 155 2,642 
Receivables— 17 — 17 
Other assets— 2 — 2 
Total assets at fair value$— $2,506 $155 $2,661 
Liabilities
Debt (1)
$— $2,671 $— $2,671 
Other liabilities— 256 — 256 
Total liabilities at fair value$— $2,927 $— $2,927 
 December 31, 2020
Level 1Level 2Level 3Total
(in millions)
Assets
Investments:
Corporate debt securities$— $8 $— $8 
Common stocks— 1 — 1 
Syndicated loans— 1,817 92 1,909 
Total investments— 1,826 92 1,918 
Receivables— 16 — 16 
Other assets— — 2 2 
Total assets at fair value$— $1,842 $94 $1,936 
Liabilities
Debt (1)
$— $1,913 $— $1,913 
Other liabilities— 69 — 69 
Total liabilities at fair value$— $1,982 $— $1,982 
(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 $2.7 billion and $2.0 billion as of March 31, 2021 and December 31, 2020, respectively.
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 LoansOther Assets
(in millions)
Balance, January 1, 2021
$92 $2 
Total gains (losses) included in:
Net income2 (1)— 
Purchases59 — 
Sales(10)— 
Settlements(20)— 
Transfers into Level 357 — 
Transfers out of Level 3(25)(2)
Balance, March 31, 2021
$155 $— 
Changes in unrealized gains (losses) included in income relating to assets held at March 31, 2021
$1 (1)$— 
 Syndicated Loans
(in millions)
Balance, January 1, 2020
$143 
Total gains (losses) included in:
Net income(39)(1)
Purchases43 
Sales(7)
Settlements(10)
Transfers into Level 3248 
Transfers out of Level 3(76)
Balance, March 31, 2020
$302 
Changes in unrealized gains (losses) included in income relating to assets held at March 31, 2020
$(37)(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, 2021
December 31, 2020
(in millions)
Syndicated loans
Unpaid principal balance$2,690 $1,990 
Excess unpaid principal over fair value(50)(81)
Fair value$2,640 $1,909 
Fair value of loans more than 90 days past due$1 $5 
Fair value of loans in nonaccrual status15 19 
Difference between fair value and unpaid principal of loans more than 90 days past due, loans in nonaccrual status or both
20 24 
Debt
Unpaid principal balance$2,808 $2,069 
Excess unpaid principal over fair value(137)(156)
Carrying value (1)
$2,671 $1,913 
(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 $2.7 billion and $2.0 billion as of March 31, 2021 and December 31, 2020, 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
March 31, 2021
December 31, 2020
March 31, 2021
December 31, 2020
(in millions) 
Debt of consolidated CLOs due 2025-2034$2,671 $1,913 2.0 %2.1 %