EX-12 6 a2202014zex-12.htm EX-12

Exhibit 12

 

Computation in Support of Ratio of Earnings to Fixed Charges
Ameriprise Financial, Inc.

 

 

 

Years Ended December 31,

 

 

 

2010

 

2009

 

2008

 

2007

 

2006

 

 

 

(dollars in millions)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

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

 

$

1,431

 

$

905

 

$

(369

)

$

1,016

 

$

797

 

Interest and debt expense(1)

 

300

 

137

 

114

 

133

 

136

 

Interest portion of rental expense(2)

 

34

 

38

 

28

 

31

 

29

 

Amortization of capitalized interest

 

4

 

3

 

3

 

1

 

—

 

Undistributed (income) loss from equity investees

 

15

 

25

 

26

 

1

 

(1

)

Minority interest in pretax losses

 

—

 

—

 

(54

)

(8

)

—

 

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

 

163

 

14

 

—

 

—

 

50

 

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

 

1,947

 

1,122

 

(252

)

1,174

 

1,011

 

Banking and deposit interest expense and interest credited to fixed accounts

 

986

 

1,069

 

977

 

1,104

 

1,210

 

Total earnings(c)

 

$

2,933

 

$

2,191

 

$

725

 

$

2,278

 

$

2,221

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest and debt expense(1)

 

$

300

 

$

137

 

$

114

 

$

133

 

$

136

 

Estimated amount of interest in rental expense(2)

 

34

 

38

 

28

 

31

 

29

 

Capitalized interest

 

3

 

3

 

8

 

5

 

—

 

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

 

337

 

178

 

150

 

169

 

165

 

Banking and deposit interest expense and interest credited to fixed accounts

 

986

 

1,069

 

977

 

1,104

 

1,210

 

Total fixed charges(d)

 

$

1,323

 

$

1,247

 

$

1,127

 

$

1,273

 

$

1,375

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

5.8

 

6.3

 

NM

(3)

6.9

 

6.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges(c/d)

 

2.2

 

1.8

 

NM

(3)

1.8

 

1.6

 

 

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)

The estimated amount of interest in rental expense represents one-third of rental expense relating to operating leases.

(3)

Earnings were insufficient to cover fixed charges for the year ended December 31, 2008 by $402 million primarily due to negative market impacts on Results of Operations, including $762 million in pretax impairments on Available-for-Sale securities.