XML 257 R45.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Investments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Investments [Abstract] |
Summary of investments | The following is a summary of Ameriprise Financial investments:
| December 31,
2024 |  | 2023
(in millions)
Available-for-Sale securities, at fair value | $ | 52,153 |  |  | $ | 51,562 |
Mortgage loans (allowance for credit losses: 2024, $14; 2023, $14) | 2,354 |  |  | 2,118 |
Policy loans | 982 |  |  | 912 |
Other investments (allowance for credit losses: 2024, $6; 2023, $6) | 934 |  |  | 897 |
Total | $ | 56,423 |  |  | $ | 55,489 |
Summary of Net Investment income | The following is a summary of Net investment income:
| Years Ended December 31,
2024 |  | 2023 |  | 2022(1)
(in millions)
Investment income on fixed maturities | $ | 3,039 |  |  | $ | 2,637 |  |  | $ | 1,320 |
Net realized gains (losses) | (18) |  |  | (27) |  |  | (87) |
Consolidated investment entities | 207 |  |  | 181 |  |  | 102 |
Other | 420 |  |  | 415 |  |  | 139 |
Total | $ | 3,648 |  |  | $ | 3,206 |  |  | $ | 1,474 |
(1) Prior period amounts associated with affordable housing partnerships have been reclassified to Other to conform to current year presentation.
Schedule of Available-for-Sale securities by type | Available-for-Sale securities distributed by type were as follows:
|  | December 31, 2024
Description of Securities |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Fair Value
| (in millions)
Corporate debt securities |  | $ | 14,509 |  |  | $ | 201 |  |  | $ | (711) |  |  | $ | — |  |  | $ | 13,999 |
Residential mortgage backed securities |  | 24,396 |  |  | 81 |  |  | (1,133) |  |  | — |  |  | 23,344 |
Commercial mortgage backed securities |  | 5,339 |  |  | 10 |  |  | (219) |  |  | (4) |  |  | 5,126 |
Asset backed securities |  | 6,451 |  |  | 30 |  |  | (39) |  |  | — |  |  | 6,442 |
State and municipal obligations |  | 629 |  |  | 29 |  |  | (19) |  |  | (1) |  |  | 638 |
U.S. government and agency obligations |  | 2,589 |  |  | 2 |  |  | — |  |  | — |  |  | 2,591 |
Foreign government bonds and obligations |  | 13 |  |  | — |  |  | — |  |  | — |  |  | 13 |
Total |  | $ | 53,926 |  |  | $ | 353 |  |  | $ | (2,121) |  |  | $ | (5) |  |  | $ | 52,153 |
|  | December 31, 2023
Description of Securities |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Fair Value
| (in millions)
Corporate debt securities |  | $ | 12,675 |  |  | $ | 409 |  |  | $ | (507) |  |  | $ | (1) |  |  | $ | 12,576 |
Residential mortgage backed securities |  | 22,130 |  |  | 107 |  |  | (1,171) |  |  | — |  |  | 21,066 |
Commercial mortgage backed securities |  | 6,380 |  |  | 11 |  |  | (341) |  |  | — |  |  | 6,050 |
Asset backed securities |  | 8,353 |  |  | 25 |  |  | (59) |  |  | — |  |  | 8,319 |
State and municipal obligations |  | 719 |  |  | 62 |  |  | (20) |  |  | (1) |  |  | 760 |
U.S. government and agency obligations |  | 2,739 |  |  | 1 |  |  | — |  |  | — |  |  | 2,740 |
Foreign government bonds and obligations |  | 19 |  |  | — |  |  | (1) |  |  | — |  |  | 18 |
Other securities |  | 33 |  |  | — |  |  | — |  |  | — |  |  | 33 |
Total |  | $ | 53,048 |  |  | $ | 615 |  |  | $ | (2,099) |  |  | $ | (2) |  |  | $ | 51,562 |
Summary of fixed maturity securities by rating | A summary of fixed maturity securities by rating was as follows:
|  | December 31, 2024 |  | December 31, 2023
Ratings |  | Amortized Cost |  | Fair Value |  | Percent of Total Fair Value | Amortized Cost |  | Fair Value |  | Percent of Total Fair Value
| (in millions, except percentages)
AAA |  | $ | 25,251 |  |  | $ | 24,614 |  |  | 47 | % |  | $ | 25,235 |  |  | $ | 24,342 |  |  | 47 | %
AA |  | 13,498 |  |  | 12,909 |  |  | 25 |  |  | 14,013 |  |  | 13,534 |  |  | 26 |
A |  | 2,979 |  |  | 2,935 |  |  | 5 |  |  | 3,073 |  |  | 3,139 |  |  | 6 |
BBB |  | 11,896 |  |  | 11,402 |  |  | 22 |  |  | 10,396 |  |  | 10,216 |  |  | 20 |
Below investment grade |  | 302 |  |  | 293 |  |  | 1 |  |  | 331 |  |  | 331 |  |  | 1 |
Total fixed maturities |  | $ | 53,926 |  |  | $ | 52,153 |  |  | 100 | % |  | $ | 53,048 |  |  | $ | 51,562 |  |  | 100 | %
Summary of fair value and gross unrealized losses on Available-for-Sale securities in continuous unrealized loss position | The following tables summarize the fair value and gross unrealized losses on Available-for-Sale securities, aggregated by major investment type and the length of time that individual securities have been in a continuous unrealized loss position for which no allowance for credit losses has been recorded:
|  | December 31, 2024
|  | Less than 12 months |  | 12 months or more |  | Total
Description of Securities |  | Number of Securities |  | Fair Value |  | Unrealized Losses |  | Number of Securities |  | Fair Value |  | Unrealized Losses |  | Number of Securities |  | Fair Value |  | Unrealized Losses
| (in millions, except number of securities)
Corporate debt securities |  | 282 |  |  | $ | 5,328 |  |  | $ | (178) |  |  | 291 |  |  | $ | 4,042 |  |  | $ | (533) |  |  | 573 |  |  | $ | 9,370 |  |  | $ | (711) |
Residential mortgage backed securities |  | 203 |  |  | 6,728 |  |  | (96) |  |  | 659 |  |  | 9,122 |  |  | (1,037) |  |  | 862 |  |  | 15,850 |  |  | (1,133) |
Commercial mortgage backed securities |  | 24 |  |  | 478 |  |  | (6) |  |  | 233 |  |  | 3,298 |  |  | (213) |  |  | 257 |  |  | 3,776 |  |  | (219) |
Asset backed securities |  | 15 |  |  | 309 |  |  | (2) |  |  | 37 |  |  | 384 |  |  | (37) |  |  | 52 |  |  | 693 |  |  | (39) |
State and municipal obligations |  | 21 |  |  | 57 |  |  | (2) |  |  | 45 |  |  | 133 |  |  | (17) |  |  | 66 |  |  | 190 |  |  | (19) |
U.S. government and agency obligations |  | 1 |  |  | 100 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 100 |  |  | — |
Foreign government bonds and obligations |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 12 |  |  | — |  |  | 3 |  |  | 12 |  |  | — |
Total |  | 546 |  |  | $ | 13,000 |  |  | $ | (284) |  |  | 1,268 |  |  | $ | 16,991 |  |  | $ | (1,837) |  |  | 1,814 |  |  | $ | 29,991 |  |  | $ | (2,121) |
|  | December 31, 2023
|  | Less than 12 months |  | 12 months or more |  | Total
Description of Securities |  | Number of Securities |  | Fair Value |  | Unrealized Losses |  | Number of Securities |  | Fair Value |  | Unrealized Losses |  | Number of Securities |  | Fair Value |  | Unrealized Losses
|  | (in millions, except number of securities)
Corporate debt securities |  | 97 |  |  | $ | 1,276 |  |  | $ | (11) |  |  | 376 |  |  | $ | 5,197 |  |  | $ | (496) |  |  | 473 |  |  | $ | 6,473 |  |  | $ | (507) |
Residential mortgage backed securities |  | 82 |  |  | 3,052 |  |  | (25) |  |  | 734 |  |  | 10,677 |  |  | (1,146) |  |  | 816 |  |  | 13,729 |  |  | (1,171) |
Commercial mortgage backed securities |  | 31 |  |  | 747 |  |  | (9) |  |  | 277 |  |  | 4,092 |  |  | (332) |  |  | 308 |  |  | 4,839 |  |  | (341) |
Asset backed securities |  | 49 |  |  | 885 |  |  | (2) |  |  | 116 |  |  | 2,840 |  |  | (57) |  |  | 165 |  |  | 3,725 |  |  | (59) |
State and municipal obligations |  | 5 |  |  | 29 |  |  | (1) |  |  | 49 |  |  | 138 |  |  | (19) |  |  | 54 |  |  | 167 |  |  | (20) |
U.S. government and agency obligations |  | 11 |  |  | 955 |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 12 |  |  | 955 |  |  | — |
Foreign government bonds and obligations |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 12 |  |  | (1) |  |  | 3 |  |  | 12 |  |  | (1) |
Total |  | 275 |  |  | $ | 6,944 |  |  | $ | (48) |  |  | 1,556 |  |  | $ | 22,956 |  |  | $ | (2,051) |  |  | 1,831 |  |  | $ | 29,900 |  |  | $ | (2,099) |
Rollforward of allowance for credit losses on Available-for-Sale securities | The following table presents a rollforward of the allowance for credit losses on Available-for-Sale securities:
| Corporate Debt Securities |  | Commercial Mortgage Backed Securities |  |  |  | State and Municipal Obligations |  | Total
(in millions)
Balance at January 1, 2022 | $ | — |  |  | $ | — |  |  |  |  | $ | 1 |  |  | $ | 1 |
Additions for which credit losses were not previously recorded | 20 |  |  | — |  |  |  |  | — |  |  | 20 |
Additional increases (decreases) on securities that had an allowance recorded in a previous period | — |  |  | — |  |  |  |  | 1 |  |  | 1 |
Balance at December 31, 2022 | 20 |  |  | — |  |  |  |  | 2 |  |  | 22 |
Additions for which credit losses were not previously recorded | 1 |  |  | — |  |  |  |  | — |  |  | 1 |
Reductions for securities sold during the period (realized) | (20) |  |  | — |  |  |  |  | (1) |  |  | (21) |
Balance at December 31, 2023 | 1 |  |  | — |  |  |  |  | 1 |  |  | 2 |
Additions for which credit losses were not previously recorded | — |  |  | 4 |  |  |  |  | — |  |  | 4 |
Reductions for securities sold during the period (realized) | (1) |  |  | — |  |  |  |  | — |  |  | (1) |
Balance at December 31, 2024 | $ | — |  |  | $ | 4 |  |  |  |  | $ | 1 |  |  | $ | 5 |
Schedule of net realized gains and losses on Available-for-Sale securities | Net realized gains and losses on Available-for-Sale securities, determined using the specific identification method, recognized in Net investment income were as follows:
| Years Ended December 31,
2024 |  | 2023 |  | 2022
(in millions)
Gross realized investment gains | $ | 41 |  |  | $ | 11 |  |  | $ | 28 |
Gross realized investment losses | (57) |  |  | (58) |  |  | (22) |
Credit reversals (losses) | (3) |  |  | 20 |  |  | (21) |
Other impairments | — |  |  | (2) |  |  | (70) |
Total | $ | (19) |  |  | $ | (29) |  |  | $ | (85) |
Schedule of Available-for-Sale securities by contractual maturity | Available-for-Sale securities by contractual maturity as of December 31, 2024 were as follows:
| Amortized Cost |  | Fair Value
(in millions)
Due within one year | $ | 3,537 |  |  | $ | 3,536 |
Due after one year through five years | 2,423 |  |  | 2,361 |
Due after five years through 10 years | 5,507 |  |  | 5,216 |
Due after 10 years | 6,273 |  |  | 6,128 |
| 17,740 |  |  | 17,241 |
Residential mortgage backed securities | 24,396 |  |  | 23,344 |
Commercial mortgage backed securities | 5,339 |  |  | 5,126 |
Asset backed securities | 6,451 |  |  | 6,442 |
Total | $ | 53,926 |  |  | $ | 52,153 |

X
- Definition Disclosure provides pertinent information about fixed maturity investments, including amortized cost, fair value and percentage of fair value, grouped by credit rating. + References No definition available. + Details
Name: | amp_ScheduleOfInvestmentsWithFixedMaturitiesDisclosureTableTextBlock
Namespace Prefix: | amp_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the summarized information related to net investment income, including realized and unrealized gain (loss) on investments. + References No definition available. + Details
Name: | amp_SummaryOfNetInvestmentIncomeTableTextBlock
Namespace Prefix: | amp_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-9 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleAllowanceForCreditLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
Name: | us-gaap_InvestmentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration