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v3.25.1

Debt | 3 Months Ended
--- | ---
Mar. 31, 2025
Debt Disclosure [Abstract] |
Debt | Debt The balances and stated interest rates of outstanding debt of Ameriprise Financial were as follows:
| Outstanding Balance |  | Stated Interest Rate
March 31, 2025 |  | December 31, 2024 | March 31, 2025 |  | December 31, 2024
(in millions) |
Long-term debt: |  |  |  |  |  |  |
Senior notes due 2025 | $ | 500 |  |  | $ | 500 |  |  | 3.0 | % |  | 3.0 | %
Senior notes due 2026 | 500 |  |  | 500 |  |  | 2.9 |  |  | 2.9 |
Senior notes due 2028 | 600 |  |  | 600 |  |  | 5.7 |  |  | 5.7 |
Senior notes due 2032 | 500 |  |  | 500 |  |  | 4.5 |  |  | 4.5 |
Senior notes due 2033 | 750 |  |  | 750 |  |  | 5.2 |  |  | 5.2 |
Senior notes due 2035 | 750 |  |  | — |  |  | 5.2 |  |  | — |
Finance lease liabilities | 6 |  |  | 9 |  |  | N/A |  | N/A
Other (1) | (25) |  |  | (17) |  |  | N/A |  | N/A
Total long-term debt | 3,581 |  |  | 2,842 |  |  |  |  |
Short-term borrowings: |  |  |  |  |  |  |
Federal Home Loan Bank (“FHLB”) advances | 201 |  |  | 201 |  |  | 4.5 | % |  | 4.6 | %
Total | $ | 3,782 |  |  | $ | 3,043 |  |  |  |  |
(1) Includes adjustments for net unamortized discounts, debt issuance costs and other lease obligations. N/A Not Applicable Long-Term Debt The Company’s senior notes may be redeemed, in whole or in part, at any time prior to maturity at a price equal to the greater of the principal amount and the present value of remaining scheduled payments, discounted to the redemption date, plus accrued interest. On February 28, 2025, the Company issued $750 million of 5.20% unsecured senior notes due on April 15, 2035 and incurred debt issuance costs of $7 million. Interest payments are due semi-annually in arrears on April 15 and October 15, which commences on October 15, 2025. On April 2, 2025, the Company repaid $500 million principal amount of its 3.0% senior notes at maturity. Short-Term Borrowings The Company’s life insurance and bank subsidiaries are members of the FHLB of Des Moines which provides access to collateralized borrowings. The Company’s life insurance subsidiary has accessed collateralized borrowings from the FHLB and has pledged (granted a lien on) certain investments as collateral, primarily commercial mortgage backed securities and residential mortgage backed securities, with an aggregate fair value of $1.1 billion and $964 million as of March 31, 2025 and December 31, 2024, respectively. The remaining maturity of outstanding FHLB advances was less than three months as of both March 31, 2025 and December 31, 2024. The stated interest rate of the FHLB advances is a weighted average annualized interest rate on the outstanding borrowings as of the balance sheet date. The Company’s bank subsidiary had no outstanding obligations to the FHLB as of both March 31, 2025 and December 31, 2024. The Company’s bank subsidiary maintains access to collateralized borrowings from the Federal Reserve. As of both March 31, 2025 and December 31, 2024, there were no outstanding obligations to the Federal Reserve. On November 25, 2024, the Company entered into agreement to amend and restate its credit agreement that provides for an unsecured committed revolving credit facility of up to $1.0 billion that expires in November 2029. Under the terms of the credit agreement for the facility, the Company may increase the amount of this facility up to $1.25 billion upon satisfaction of certain approval requirements. As of both March 31, 2025 and December 31, 2024, 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 March 31, 2025 and December 31, 2024. American Enterprise Investment Services, Inc. (“AEIS”), a subsidiary of the Company, has credit agreements for uncommitted lines of credit with third party financial institutions, having a combined credit limit of $500 million. As of both March 31, 2025 and December 31, 2024, AEIS had no borrowings outstanding.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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