AMERIPRISE FINANCIAL INC
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Leases
- Leases
The following table presents the balances for operating and finance ROU assets and lease liabilities:
| Leases | Balance Sheet Classification | December 31, 2024 | December 31, 2023 |
|---|---|---|---|
| (in millions) | |||
| Assets | |||
| Operating lease assets | Other assets | $246 | $259 |
| Finance lease assets | Other assets | 8 | 18 |
| Total lease assets | $254 | $277 | |
| Liabilities | |||
| Operating lease liabilities | Other liabilities | $313 | $325 |
| Finance lease liabilities | Long-term debt | 9 | 20 |
| Total lease liabilities | $322 | $345 | |
Index
The following table presents the components of lease cost:
| Years Ended December 31, | ||||
|---|---|---|---|---|
| Lease Cost | Income Statement Classification | 2024 | 2023 | 2022 |
| (in millions) | ||||
| Operating lease cost | General and administrative expense | $61 | $55 | $61 |
| Finance lease cost: | ||||
| Amortization of ROU assets | General and administrative expense | 10 | 10 | 10 |
| Interest on lease liabilities | Interest and debt expense | 1 | 1 | 1 |
| Total lease cost | $72 | $66 | $72 | |
The following table presents the weighted-average lease term and weighted-average discount rate related to operating and finance leases:
| December 31, 2024 | December 31, 2023 | |||
|---|---|---|---|---|
| Lease Term and Discount Rate | Finance Leases | Operating Leases | Finance Leases | Operating Leases |
| Weighted-average remaining lease term (years) | 1 | 6 | 2 | 6 |
| Weighted-average discount rate | 3.4% | 2.9% | 3.4% | 2.7% |
The following table presents supplemental cash flow information related to operating and finance leases:
| Years Ended December 31, | |||
|---|---|---|---|
| Supplemental Cash Flow Information | 2024 | 2023 | 2022 |
| (in millions) | |||
| Operating cash flows: | |||
| Cash paid for amounts included in measurement of operating lease liabilities | $69 | $68 | $65 |
| Cash paid for amounts included in measurement of finance lease liabilities | 1 | 1 | 1 |
| Financing cash flows: | |||
| Cash paid for amounts included in measurement of finance lease liabilities | $11 | $10 | $10 |
The following table presents the maturities of lease liabilities:
| Maturity of Lease Liabilities · December 31, 2024 | ||
|---|---|---|
| Finance Leases · Operating Leases | ||
| (in millions) | ||
| 2025 | $9 | $72 |
| 2026 | — | 68 |
| 2027 | — | 56 |
| 2028 | — | 44 |
| 2029 | — | 35 |
| Thereafter | — | 65 |
| Total lease payments | 9 | 340 |
| Less: interest | — | 27 |
| Present value of lease liabilities | $9 | $313 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.