EX-12 3 a2212970zex-12.htm EX-12

Exhibit 12

 

Consolidated Ratio of Earnings to Fixed Charges

Ameriprise Financial, Inc.

 

 

 

Years Ended December 31,

 

 

 

2012

 

2011

 

2010

 

2009

 

2008

 

 

 

(dollars in millions)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Pretax income (loss) attributable to Ameriprise Financial, Inc.

 

$

1,366

 

$

1,553

 

$

1,306

 

$

769

 

$

(270

)

Interest and debt expense(1)

 

279

 

320

 

300

 

137

 

114

 

Interest portion of rental expense

 

30

 

32

 

34

 

38

 

28

 

Amortization of capitalized interest

 

6

 

4

 

4

 

3

 

3

 

Undistributed loss from equity investees

 

16

 

41

 

15

 

25

 

26

 

Minority interest in pretax losses

 

(128

)

(129

)

—

 

—

 

(54

)

Minority interest in pretax income of subsidiaries that have incurred fixed charges

 

—

 

23

 

163

 

15

 

—

 

Total earnings (losses) before banking and deposit interest expense and interest credited to fixed accounts(a)

 

1,569

 

1,844

 

1,822

 

987

 

(153

)

Banking and deposit interest expense and interest credited to fixed accounts

 

875

 

904

 

986

 

1,069

 

977

 

Total earnings(c)

 

$

2,444

 

$

2,748

 

$

2,808

 

$

2,056

 

$

824

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest and debt expense(1)

 

$

279

 

$

320

 

$

300

 

$

137

 

$

114

 

Estimated amount of interest in rental expense

 

30

 

32

 

34

 

38

 

28

 

Capitalized interest

 

7

 

5

 

3

 

3

 

8

 

Total fixed charges before banking and deposit interest and interest credited to fixed accounts(b)

 

316

 

357

 

337

 

178

 

150

 

Banking and deposit interest expense and interest credited to fixed accounts

 

875

 

904

 

986

 

1,069

 

977

 

Total fixed charges(d)

 

$

1,191

 

$

1,261

 

$

1,323

 

$

1,247

 

$

1,127

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges before banking and deposit interest expense and interest credited to fixed accounts(a/b)

 

5.0

 

5.2

 

5.4

 

5.5

 

NM

(2)

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges(c/d)

 

2.1

 

2.2

 

2.1

 

1.6

 

NM

(2)

 

NM: Not Meaningful.

(1)         Interest on non-recourse debt of consolidated investment entities is included in interest and debt expense provided in the table above.

(2)         Earnings were insufficient to cover fixed charges for the year ended December 31, 2008 by $303 million primarily due to negative market impacts on Results of Operations, including $762 million in pretax impairments on Available-for-Sale securities.