AMP · 10-Q · 2026Q2 · Full report

Recent Accounting Pronouncements

AMERIPRISE FINANCIAL INC · 2026-08-04 · Importance 25 · Surprise 60

The FASB issued ASU 2024-03 in November 2024, requiring public business entities to provide disaggregated income-statement expense disclosures annually and interim, effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027; Ameriprise expects no effect on consolidated results or financial condition. ASU 2025-06, issued in September 2025, changes internal-use software capitalization requirements and is effective for annual periods beginning after December 15, 2027, with Ameriprise evaluating the impact. ASU 2025-08, ASU 2025-09 and ASU 2025-11, issued in November or December 2025, address purchased-loan credit losses, hedge accounting and interim disclosure requirements, respectively, with adoption beginning after December 15, 2026 or December 15, 2027 depending on the standard. Ameriprise is evaluating the effects of the accounting changes, while ASU 2025-11 is disclosure-related and is not expected to affect consolidated results or financial condition.

Key facts

• ASU 2025-08 (Purchased Loans) is effective for annual periods beginning after December 15, 2026, including interim periods within those years, and will be applied prospectively; the Company is evaluating the impact. source
• ASU 2025-09 (Hedge Accounting Improvements) is effective for annual periods beginning after December 15, 2026, including interim periods within those years, and must be applied prospectively; the Company is evaluating the impact. source
• ASU 2024-03 (Disaggregation of Income Statement Expenses) is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027; the Company is assessing changes and states adoption will not impact consolidated results as it is disclosure-related only. source
• ASU 2025-06 (Targeted Improvements to the Accounting for Internal-Use Software) is effective for annual periods beginning after December 15, 2027 and interim reporting periods within those years; the Company can elect prospective, retrospective, or modified retrospective adoption and is evaluating the impact. source
• ASU 2025-11 (Narrow-Scope Improvements) is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027 and may be applied prospectively or retrospectively; adoption will not impact consolidated results as it is disclosure-related only. source