Basis of Presentation Ameriprise Financial, Inc. is a holding company, which primarily conducts business through its subsidiaries to provide financial planning, products and services that are designed to be utilized as solutions for clients cash and liquidity, asset accumulation, income, protection and estate and wealth transfer needs. The foreign operations of Ameriprise Financial, Inc. are conducted primarily through Threadneedle Asset Management Holdings Sarl and Ameriprise Asset Management Holdings GmbH (collectively, Threadneedle). The accompanying Consolidated Financial Statements include the accounts of Ameriprise Financial, Inc., companies in which it directly or indirectly has a controlling financial interest and variable interest entities (VIEs) in which it is the primary beneficiary (collectively, the Company). All intercompany transactions and balances have been eliminated in consolidation. The interim financial information in this report has not been audited. In the opinion of management, all adjustments necessary for fair statement of the consolidated results of operations and financial position for the interim periods have been made. Except for the out-of-period correction described below and the prior period adjustments for the retrospective adoption of the new revenue recognition accounting standard, all adjustments made were of a normal recurring nature. In the first quarter of 2017, the Company recorded a $20 million decrease to income tax provision related to an out-of-period correction for a reversal of a tax reserve. The accompanying Consolidated Financial Statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP). Results of operations reported for interim periods are not necessarily indicative of results for the entire year. These Consolidated Financial Statements and Notes should be read in conjunction with the Consolidated Financial Statements and Notes in the Companys Annual Report on Form 10-K for the year ended December 31, 2017 , filed with the Securities and Exchange Commission (SEC) on February 23, 2018 ( 2017 10-K). The Company evaluated events or transactions that may have occurred after the balance sheet date for potential recognition or disclosure through the date the financial statements were issued. No subsequent events or transactions were identified. On January 1, 2018, the Company retrospectively adopted the new accounting standard for revenue recognition. See Note 2 and Note 3 for further information on the new accounting standard and the Companys revenue from contracts with customers. The following tables present the impact to the consolidated statements of operations for the prior periods presented: Three Months Ended September 30, 2017 Previously Reported Effect of Change As Adjusted (in millions) Revenues Management and financial advice fees $ 1,626 $ 13 $ 1,639 Distribution fees 437 (2 ) 435 Net investment income 372  372 Premiums 348  348 Other revenues 210 22 232 Total revenues 2,993 33 3,026 Banking and deposit interest expense 12  12 Total net revenues 2,981 33 3,014 Expenses Distribution expenses 850  850 Interest credited to fixed accounts 176  176 Benefits, claims, losses and settlement expenses 474  474 Amortization of deferred acquisition costs 48  48 Interest and debt expense 52  52 General and administrative expense 753 28 781 Total expenses 2,353 28 2,381 Pretax income 628 5 633 Income tax provision 125 1 126 Net income $ 503 $ 4 $ 507 Nine Months Ended September 30, 2017 Previously Reported Effect of Change As Adjusted (in millions) Revenues Management and financial advice fees $ 4,669 $ 25 $ 4,694 Distribution fees 1,310 (9 ) 1,301 Net investment income 1,154  1,154 Premiums 1,035  1,035 Other revenues 733 69 802 Total revenues 8,901 85 8,986 Banking and deposit interest expense 34  34 Total net revenues 8,867 85 8,952 Expenses Distribution expenses 2,505 (1 ) 2,504 Interest credited to fixed accounts 509  509 Benefits, claims, losses and settlement expenses 1,652  1,652 Amortization of deferred acquisition costs 189  189 Interest and debt expense 154  154 General and administrative expense 2,244 81 2,325 Total expenses 7,253 80 7,333 Pretax income 1,614 5 1,619 Income tax provision 315 1 316 Net income $ 1,299 $ 4 $ 1,303 The impact to the consolidated balance sheet as of December 31, 2017 was a $10 million increase to total assets, a $13 million increase to total liabilities and a $3 million decrease to retained earnings.