Exhibit 12 | ||||||||||||||||||||
Consolidated Ratio of Earnings to Fixed Charges Ameriprise Financial, Inc. | ||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
(dollars in millions) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Pretax income attributable to Ameriprise Financial, Inc. | $ | 2,165 | $ | 1,829 | $ | 1,366 | $ | 1,553 | $ | 1,306 | ||||||||||
Interest and debt expense (1) | 330 | 283 | 279 | 320 | 300 | |||||||||||||||
Interest portion of rental expense | 30 | 29 | 30 | 32 | 34 | |||||||||||||||
Amortization of capitalized interest | 5 | 5 | 6 | 4 | 4 | |||||||||||||||
Undistributed (gain) loss from equity investees | 10 | (1 | ) | 16 | 41 | 15 | ||||||||||||||
Minority interest in pretax losses | (103 | ) | — | (128 | ) | (129 | ) | — | ||||||||||||
Minority interest in pretax income of subsidiaries that have incurred fixed charges | 484 | 141 | — | 23 | 163 | |||||||||||||||
Total earnings before banking and deposit interest expense and interest credited to fixed accounts (a) | 2,921 | 2,286 | 1,569 | 1,844 | 1,822 | |||||||||||||||
Banking and deposit interest expense and interest credited to fixed accounts | 742 | 838 | 875 | 904 | 986 | |||||||||||||||
Total earnings (c) | $ | 3,663 | $ | 3,124 | $ | 2,444 | $ | 2,748 | $ | 2,808 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest and debt expense (1) | $ | 330 | $ | 283 | $ | 279 | $ | 320 | $ | 300 | ||||||||||
Estimated amount of interest in rental expense | 30 | 29 | 30 | 32 | 34 | |||||||||||||||
Capitalized interest | 2 | 2 | 7 | 5 | 3 | |||||||||||||||
Total fixed charges before banking and deposit interest and interest credited to fixed accounts (b) | 362 | 314 | 316 | 357 | 337 | |||||||||||||||
Banking and deposit interest expense and interest credited to fixed accounts | 742 | 838 | 875 | 904 | 986 | |||||||||||||||
Total fixed charges (d) | $ | 1,104 | $ | 1,152 | $ | 1,191 | $ | 1,261 | $ | 1,323 | ||||||||||
Ratio of earnings to fixed charges before banking and deposit interest expense and interest credited to fixed accounts (a/b) | 8.1 | 7.3 | 5.0 | 5.2 | 5.4 | |||||||||||||||
Ratio of earnings to fixed charges (c/d) | 3.3 | 2.7 | 2.1 | 2.2 | 2.1 | |||||||||||||||
(1) Interest on non-recourse debt of consolidated investment entities is included in interest and debt expense provided in the table above. |
E-7