Discontinued Operations

6 Months Ended

Jun. 30, 2011

Discontinued Operations

Discontinued Operations

17.  Discontinued Operations

During the first quarter of 2011, management decided to identify an appropriate buyer for Securities America. Management believes a sale would allow Securities America to focus on growth opportunities in the independent channel and would allow the Company to devote resources to the Ameriprise branded advisor business. During the second quarter of 2011, the results of Securities America have been presented as discontinued operations for all periods presented and the related assets and liabilities have been classified as held for sale.

The components of income (loss) from discontinued operations, net of tax, are as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2011			2010		2011			2010
	(in millions)
Total net revenues	$	118		$	116	$	240		$	230
Pretax income (loss)	(3		)	4		(119		)	7
Income tax provision (benefit)	1			2		(44		)	3
Income (loss) from discontinued operations, net of tax	$	(4	)	$	2	$	(75	)	$	4

Assets and liabilities classified as held for sale are as follows:

	June 30, 2011		December 31, 2010
	(in millions)
Assets:
Cash and cash equivalents	$	25	$	23
Receivables	38		40
Other assets	99		110
Total assets held for sale	$	162	$	173
Liabilities:
Long-term debt	$	5	$	5
Accounts payable and accrued expenses	28		26
Other liabilities	157		48
Total liabilities held for sale	$	190	$	79