Exhibit 12.1
Consolidated Ratio of Earnings to Fixed Charges
Ameriprise Financial, Inc.
| | Six Months | | | | | | | | | | | |
| | Ended | | Years Ended December 31, | |
| | June 30, 2016 | | 2015 | | 2014 | | 2013 | | 2012 | | 2011 | |
| | (dollars in millions) | |
Earnings: | | | | | | | | | | | | | |
Pretax income attributable to Ameriprise Financial, Inc. | | $ | 885 | | $ | 2,017 | | $ | 2,165 | | $ | 1,829 | | $ | 1,366 | | $ | 1,553 | |
Interest and debt expense (1) | | 110 | | 390 | | 330 | | 283 | | 279 | | 320 | |
Interest portion of rental expense | | 11 | | 23 | | 30 | | 29 | | 30 | | 32 | |
Amortization of capitalized interest | | 2 | | 4 | | 5 | | 5 | | 6 | | 4 | |
Undistributed (gain) loss from equity investees | | 19 | | 14 | | 10 | | (1 | ) | 16 | | 41 | |
Minority interest in pretax losses | | — | | (97 | ) | (103 | ) | — | | (128 | ) | (129 | ) |
Minority interest in pretax income of subsidiaries that have incurred fixed charges | | — | | 222 | | 484 | | 141 | | — | | 23 | |
Total earnings before banking and deposit interest expense and interest credited to fixed accounts (a) | | 1,027 | | 2,573 | | 2,921 | | 2,286 | | 1,569 | | 1,844 | |
Banking and deposit interest expense and interest credited to fixed accounts | | 321 | | 697 | | 742 | | 838 | | 875 | | 904 | |
Total earnings (c) | | $ | 1,348 | | $ | 3,270 | | $ | 3,663 | | $ | 3,124 | | $ | 2,444 | | $ | 2,748 | |
| | | | | | | | | | | | | |
Fixed charges: | | | | | | | | | | | | | |
Interest and debt expense (1) | | $ | 110 | | $ | 390 | | $ | 330 | | $ | 283 | | $ | 279 | | $ | 320 | |
Estimated amount of interest in rental expense | | 11 | | 23 | | 30 | | 29 | | 30 | | 32 | |
Capitalized interest | | 1 | | 3 | | 2 | | 2 | | 7 | | 5 | |
Total fixed charges before banking and deposit interest and interest credited to fixed accounts (b) | | 122 | | 416 | | 362 | | 314 | | 316 | | 357 | |
Banking and deposit interest expense and interest credited to fixed accounts | | 321 | | 697 | | 742 | | 838 | | 875 | | 904 | |
Total fixed charges (d) | | $ | 443 | | $ | 1,113 | | $ | 1,104 | | $ | 1,152 | | $ | 1,191 | | $ | 1,261 | |
| | | | | | | | | | | | | |
Ratio of earnings to fixed charges before banking and deposit interest expense and interest credited to fixed accounts (a/b) | | 8.4 | | 6.2 | | 8.1 | | 7.3 | | 5.0 | | 5.2 | |
Ratio of earnings to fixed charges (c/d) | | 3.0 | | 2.9 | | 3.3 | | 2.7 | | 2.1 | | 2.2 | |
(1) Interest on non-recourse debt of consolidated investment entities is included in interest and debt expense provided in the table above.