Ameriprise Financial (AMP) FY2020 results: revenue $11.9 billion, down 8.2% on the year
Ameriprise Financial Inc. (AMP) reported revenue of $11.9 billion for fiscal 2020, the year ended 31 December 2020, down 8.2% on the year before. Net income was $1.5 billion, down 19.0%, and diluted earnings per share $12.20. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$11.9 billion
-8.2% on the year
FY2013FY2020
Operating margin
15.4%
17.2% a year earlier
FY2013FY2020
Net income
$1.5 billion
-19.0% on the year
FY2013FY2020
Diluted EPS
$12.20
-12.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
11,899
12,967
12,835
-8.2%
Operating income
1,831
2,232
2,484
-18.0%
Operating margin
15.4%
17.2%
19.4%
Pre-tax income
1,831
2,232
2,484
-18.0%
Income tax
297
339
386
-12.4%
Effective tax rate
16.2%
15.2%
15.5%
Net income
1,534
1,893
2,098
-19.0%
Net margin
12.9%
14.6%
16.3%
Diluted EPS
$12.20
$13.92
$14.20
-12.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
4,623
2,341
2,597
+97.5%
Capital expenditure
147
143
162
+2.8%
Free cash flow
4,476
2,198
2,435
+103.6%
Free cash flow margin
37.6%
17.0%
19.0%
Cash from investing
-2,894
-3,234
-587
Cash from financing
952
1,214
-1,263
-21.6%
Depreciation and amortisation
153
147
198
+4.1%
Share-based compensation
146
135
144
+8.1%
Buybacks
1,441
1,943
1,630
-25.8%
Dividends paid
497
504
506
-1.4%
Diluted shares, weighted
126m
136m
148m
-7.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,131
5,911
5,588
+3.7%
Deposits
17,641
n/a
n/a
Debt
4,944
3,298
n/a
+49.9%
Other liabilities
137,167
142,619
131,628
-3.8%
Total liabilities and equity
165,883
151,828
137,216
+9.3%
Fixed assets
602
610
635
-1.3%
Goodwill
1,176
1,167
1,158
+0.8%
Intangible assets
108
113
116
-4.4%
Securities borrowed
147
n/a
n/a
Cash and equivalents
8,903
6,213
5,883
+43.3%
Other assets
154,947
143,725
129,424
+7.8%
Total assets
165,883
151,828
137,216
+9.3%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.