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Debt | 9 Months Ended
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Sep. 30, 2019
Debt Disclosure [Abstract] |
Debt [Text Block] | Debt The balances and the stated interest rates of outstanding debt of Ameriprise Financial were as follows:
| Outstanding Balance |  | Stated Interest Rate
September 30, 2019 |  | December 31, 2018 | September 30, 2019 |  | December 31, 2018
(in millions) |  |
Long-term debt: |  |  |  |  |  |  |
Senior notes due 2019 | $ | — |  |  | $ | 300 |  |  | — | % |  | 7.3 | %
Senior notes due 2020 | 750 |  |  | 750 |  |  | 5.3 |  |  | 5.3 |
Senior notes due 2022 | 500 |  |  | — |  |  | 3.0 |  |  | — |
Senior notes due 2023 | 750 |  |  | 750 |  |  | 4.0 |  |  | 4.0 |
Senior notes due 2024 | 550 |  |  | 550 |  |  | 3.7 |  |  | 3.7 |
Senior notes due 2026 | 500 |  |  | 500 |  |  | 2.9 |  |  | 2.9 |
Finance lease liabilities | 61 |  |  | 25 |  |  |  |  |  |
Other (1) | (10 | ) |  | (8 | ) |  |  |  |
Total long-term debt | 3,101 |  |  | 2,867 |  |  |  |  |
Short-term borrowings: |  |  |  |  |  |  |
Federal Home Loan Bank (“FHLB”) advances | 151 |  |  | 151 |  |  | 2.2 |  |  | 2.6 |
Repurchase agreements | 50 |  |  | 50 |  |  | 2.5 |  |  | 2.6 |
Total short-term borrowings | 201 |  |  | 201 |  |  |  |  |  |  |
Total | $ | 3,302 |  |  | $ | 3,068 |  |  |  |  |  |  |
(1) Amounts include adjustments for fair value hedges on the Company’s long-term debt and unamortized discount and debt issuance costs. See Note 13 for information on the Company’s fair value hedges. Long-term Debt On March 22, 2019, the Company issued $500 million of unsecured senior notes due March 22, 2022 and incurred debt issuance costs of $3 million. Interest payments are due semi-annually in arrears on March 22 and September 22, commencing on September 22, 2019. The Company repaid $300 million principal amount of its 7.3% senior notes at maturity on June 28, 2019. Short-term Borrowings The Company enters into repurchase agreements in exchange for cash, which it accounts for as secured borrowings and has pledged Available-for-Sale securities to collateralize its obligations under the repurchase agreements. As of both September 30, 2019 and December 31, 2018, the Company had pledged $52 million of agency residential mortgage backed securities. The remaining maturity of outstanding repurchase agreements was less than one month as of September 30, 2019 and less than three months as of December 31, 2018. The stated interest rate of the repurchase agreements is a weighted average annualized interest rate on repurchase agreements held as of the balance sheet date. The Company’s life insurance and bank subsidiaries are members of the FHLB of Des Moines which provides access to collateralized borrowings. The Company has pledged Available-for-Sale securities consisting of commercial mortgage backed securities and residential mortgage backed securities as collateral to access these borrowings. The fair value of the securities pledged is recorded in investments and was $848 million and $780 million, of commercial mortgage backed securities, and $192 million and nil, of residential mortgage backed securities, as of September 30, 2019 and December 31, 2018, respectively. The remaining maturity of outstanding FHLB advances was less than three months as of both September 30, 2019 and December 31, 2018. The stated interest rate of the FHLB advances is a weighted average annualized interest rate on outstanding borrowings as of the balance sheet date. On October 12, 2017, the Company entered into an amended and restated credit agreement that provides for an unsecured revolving credit facility of up to $750 million that expires in October 2022. Under the terms of the credit agreement for the facility, the Company may increase the amount of this facility up to $1.0 billion upon satisfaction of certain approval requirements. As of both September 30, 2019 and December 31, 2018, the Company had no borrowings outstanding and $1 million of letters of credit issued against the facility. The Company’s credit facility contains various administrative, reporting, legal and financial covenants. The Company was in compliance with all such covenants as of both September 30, 2019 and December 31, 2018.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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