Ameriprise Financial, Inc. (AMP) announced the company estimates its second quarter adjusted operating earnings will include a reversal of the $144 million tax
benefit that was recorded in the first quarter. The company said this is a result of strong equity market appreciation in the second quarter. Also, the company no longer expects a net operating loss in 2020.
The company currently expects its year-to-date operating effective tax rate as of second quarter 2020 to be in the 16 percent to 18 percent range.
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