AMERIPRISE FINANCIAL INC
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
AMP$519.96+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Deferred Acquisition Costs and Deferred Sales Inducement Costs
- Deferred Acquisition Costs and Deferred Sales Inducement Costs
The following tables summarize the balances of and changes in DAC, including the January 1, 2021 adoption of ASU 2018-12:
| Variable Annuities · Structured Variable Annuities · Fixed Annuities · Fixed Indexed Annuities · Universal Life Insurance · Variable Universal Life Insurance | ||||||||
|---|---|---|---|---|---|---|---|---|
| (in millions) | ||||||||
| Pre-adoption balance at December 31, 2020 | $1,690 | $22 | $43 | $7 | $100 | $452 | ||
| Effect of shadow reserve adjustments | 42 | 4 | 18 | 1 | 31 | 53 | ||
| Post-adoption balance at January 1, 2021 | 1,732 | 26 | 61 | 8 | 131 | 505 | ||
| Capitalization of acquisition costs | 111 | 71 | — | — | 3 | 54 | ||
| Amortization | (147) | (6) | (8) | (1) | (9) | (47) | ||
| Balance at December 31, 2021 | $1,696 | $91 | $53 | $7 | $125 | $512 | ||
| Indexed Universal Life Insurance · Other Life Insurance · Life Contingent Payout Annuities · Term and Whole Life Insurance · Disability Income Insurance · Total,All Products | ||||||||
| (in millions) | ||||||||
| Pre-adoption balance at December 31, 2020 | $108 | $(3) | $— | $19 | $89 | $2,527 | ||
| Effect of shadow reserve adjustments | 149 | 6 | — | — | — | 304 | ||
| Post-adoption balance at January 1, 2021 | 257 | 3 | — | 19 | 89 | 2,831 | ||
| Capitalization of acquisition costs | 9 | — | 1 | 2 | 4 | 255 | ||
| Amortization | (18) | — | — | (2) | (9) | (247) | ||
| Balance at December 31, 2021 | $248 | $3 | $1 | $19 | $84 | $2,839 | ||
| Other broker dealer acquisition costs | 5 | |||||||
| Balance at December 31, 2021 including broker dealer acquisition costs | $2,844 | |||||||
Index
| Variable Annuities · Structured Variable Annuities · Fixed Annuities · Fixed Indexed Annuities · Universal Life Insurance · Variable Universal Life Insurance | ||||||||
|---|---|---|---|---|---|---|---|---|
| (in millions) | ||||||||
| Balance at January 1, 2022 | $1,696 | $91 | $53 | $7 | $125 | $512 | ||
| Capitalization of acquisition costs | 38 | 73 | — | — | 1 | 55 | ||
| Amortization | (136) | (15) | (8) | (1) | (8) | (46) | ||
| Balance at December 31, 2022 | $1,598 | $149 | $45 | $6 | $118 | $521 | ||
| Indexed Universal Life Insurance · Other Life Insurance · Life Contingent Payout Annuities · Term and Whole Life Insurance · Disability Income Insurance · Total,All Products | ||||||||
| (in millions) | ||||||||
| Balance at January 1, 2022 | $248 | $3 | $1 | $19 | $84 | $2,839 | ||
| Capitalization of acquisition costs | 5 | — | 1 | 1 | 4 | 178 | ||
| Amortization | (17) | — | — | (2) | (9) | (242) | ||
| Balance at December 31, 2022 | $236 | $3 | $2 | $18 | $79 | $2,775 | ||
| Other broker dealer acquisition costs | 2 | |||||||
| Balance at December 31, 2022 including broker dealer acquisition costs | $2,777 | |||||||
| Variable Annuities · Structured Variable Annuities · Fixed Annuities · Fixed Indexed Annuities · Universal Life Insurance · Variable Universal Life Insurance | ||||||||
|---|---|---|---|---|---|---|---|---|
| (in millions) | ||||||||
| Balance at January 1, 2023 | $1,598 | $149 | $45 | $6 | $118 | $521 | ||
| Capitalization of acquisition costs | 23 | 83 | — | — | — | 57 | ||
| Amortization | (125) | (24) | (10) | (1) | (8) | (44) | ||
| Balance at December 31, 2023 | $1,496 | $208 | $35 | $5 | $110 | $534 | ||
| Indexed Universal Life Insurance · Other Life Insurance · Life Contingent Payout Annuities · Term and Whole Life Insurance · Disability Income Insurance · Total,All Products | ||||||||
| (in millions) | ||||||||
| Balance at January 1, 2023 | $236 | $3 | $2 | $18 | $79 | $2,775 | ||
| Capitalization of acquisition costs | 4 | — | 4 | 1 | 4 | 176 | ||
| Amortization | (17) | (1) | — | (2) | (8) | (240) | ||
| Balance at December 31, 2023 | $223 | $2 | $6 | $17 | $75 | $2,711 | ||
| Other broker dealer acquisition costs | 2 | |||||||
| Balance at December 31, 2023 including broker dealer acquisition costs | $2,713 | |||||||
The following tables summarize the balances of and changes in DSIC, including the January 1, 2021 adoption of ASU 2018-12:
| Variable Annuities | Fixed Annuities | Total,All Products | |
|---|---|---|---|
| (in millions) | |||
| Pre-adoption balance at December 31, 2020 | $175 | $14 | $189 |
| Effect of shadow reserve adjustments | 8 | 8 | 16 |
| Post-adoption balance at January 1, 2021 | 183 | 22 | 205 |
| Capitalization of sales inducement costs | 1 | — | 1 |
| Amortization | (18) | (3) | (21) |
| Balance at December 31, 2021 | $166 | $19 | $185 |
Index
| Variable Annuities | Fixed Annuities | Total,All Products | |
|---|---|---|---|
| (in millions) | |||
| Balance at January 1, 2022 | $166 | $19 | $185 |
| Capitalization of sales inducement costs | 1 | — | 1 |
| Amortization | (16) | (3) | (19) |
| Balance at December 31, 2022 | $151 | $16 | $167 |
| Variable Annuities | Fixed Annuities | Total,All Products | |
|---|---|---|---|
| (in millions) | |||
| Balance at January 1, 2023 | $151 | $16 | $167 |
| Amortization | (15) | (4) | (19) |
| Balance at December 31, 2023 | $136 | $12 | $148 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.