Ameriprise Financial (AMP) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

Consolidated Ratio of Earnings to Fixed Charges
Ameriprise Financial, Inc.

	Six Months
	Ended June 30,			Years Ended December 31,
	2014			2013			2012			2011			2010		2009
	(dollars in millions)
Earnings:
Pretax income attributable to Ameriprise Financial, Inc.	$	1,061		$	1,829		$	1,366		$	1,553		$	1,306	$	769
Interest and debt expense(1)	160			283			279			320			300		137
Interest portion of rental expense	14			29			30			32			34		38
Amortization of capitalized interest	2			5			6			4			4		3
Undistributed (gains) losses from equity investees	4			(1		)	16			41			15		25
Minority interest in pretax losses	(17		)	—			(128		)	(129		)	—		—
Minority interest in pretax income of subsidiaries that have incurred fixed charges	224			141			—			23			163		15
Total earnings before banking and deposit interest expense and interest credited to fixed accounts(a)	1,448			2,286			1,569			1,844			1,822		987
Banking and deposit interest expense and interest credited to fixed accounts	376			838			875			904			986		1,069
Total earnings(c)	$	1,824		$	3,124		$	2,444		$	2,748		$	2,808	$	2,056
Fixed charges:
Interest and debt expense(1)	$	160		$	283		$	279		$	320		$	300	$	137
Estimated amount of interest in rental expense	14			29			30			32			34		38
Capitalized interest	1			2			7			5			3		3
Total fixed charges before banking and deposit interest and interest credited to fixed accounts(b)	175			314			316			357			337		178
Banking and deposit interest expense and interest credited to fixed accounts	376			838			875			904			986		1,069
Total fixed charges(d)	$	551		$	1,152		$	1,191		$	1,261		$	1,323	$	1,247
Ratio of earnings to fixed charges before banking and deposit interest expense and interest credited to fixed accounts(a/b)	8.3			7.3			5.0			5.2			5.4		5.5
Ratio of earnings to fixed charges(c/d)	3.3			2.7			2.1			2.2			2.1		1.6

NM:  Not Meaningful.

(1)Interest on non-recourse debt of consolidated investment entities is included in interest and debt expense provided in the table above.