Ameriprise Advisor Group Deferred Compensation Plan The Employee Advisor Deferral Plan, which was created in April 2009, allows for employee advisors to receive share-based bonus awards which are subject to future service requirements and forfeitures.
The Employee Advisor Deferral Plan is an unfunded non-qualified deferred compensation plan under section 409A of the Internal Revenue Code.
The Employee Advisor Deferral Plan also gives qualifying employee advisors the choice to defer a portion of their base salary or commissions beginning in 2010.
This deferral can be in the form of share-based awards or other investment options.
Deferrals are not subject to future service requirements or forfeitures.
Under the Employee Advisor Deferral Plan, a maximum of 3.0 million shares may be issued.
Awards granted under the Employee Advisor Deferral Plan may be settled in cash and/or shares of the Company’s common stock according to the award’s terms.
As of December 31, 2011, there were approximately 0.3 million units outstanding under the Employee Advisor Deferral Plan, of which nil were fully vested.
Threadneedle Equity Incentive Plan On an annual basis, certain key Threadneedle employees are eligible for awards under an equity incentive plan (‘‘EIP’’) based on a formula tied to Threadneedle’s financial performance.
Awards under the EIP were first made in April 2009; prior awards were made under the equity participation plan (‘‘EPP’’).
In 2011, Threadneedle’s articles of incorporation were amended to create a new class of Threadneedle corporate units to be granted under a modified EIP plan.
Employees who held EIP units granted prior to 2011 were given the choice to exchange their existing units at the exchange date.
EIP awards may be settled in cash or Threadneedle corporate units according to the award’s terms.
For awards granted prior to 2011, the EIP provides for 100% vesting after three years, with a mandatory call after six years.
For converted units and awards granted after February 2011, the EIP provides for 100% vesting after two and a half years, with no mandatory call date.
Converted units and units granted after February 2011 have dividend rights once fully vested.
The EPP provides for 50% vesting after three years and 50% vesting after four years, with required cash-out after five years.
EIP and EPP awards are subject to forfeitures based on future service requirements.
The value of the awards is recognized as compensation expense evenly over the vesting periods.
Generally, the expense is based on the grant date fair value of the awards as determined by an annual independent valuation of Threadneedle’s fair market value; however, for awards accounted for as a liability the expense is adjusted to reflect Threadneedle’s current calculated value (the change in the value of the awards is recognized immediately for vested awards and over the remaining vesting period for unvested awards).
During the years ended December 31, 2011, 2010 and 2009, cash settlements of EPP and EIP awards were $14 million, $18 million and $5 million, respectively.17.
Shareholders’ Equity The following table presents the components of accumulated other comprehensive income, net of tax:
## Table 0 ##
See Note 5, Note 15 and Note 21 for additional disclosures related to net unrealized securities gains, net unrealized derivatives gains (losses) and net unrealized actuarial gains (losses) on defined benefit plans, respectively.
In May 2010, the Company’s Board of Directors authorized the expenditure of up to $1.5 billion for the repurchase of the Company’s common stock through the date of its 2012 annual meeting.
In June 2011, the Company’s Board of Directors authorized an additional expenditure of up to $2.0 billion for the repurchase of the Company’s common stock through June 28, 2013.
For the years ended December 31, 2011 and 2010, the Company repurchased a total of 27.9 million shares and 13.1 million shares, respectively, of its common stock for an aggregate cost of $1.5 billion and $573 million, respectively.
There were no share repurchases during the year ended December 31, 2009.
As of December 31, 2011, the Company had $1.5 billion remaining under the share repurchase authorization.
The Company may also reacquire shares of its common stock under its 2005 ICP related to restricted stock awards.
Restricted shares that are forfeited before the vesting period has lapsed are recorded as treasury shares.
In addition, the holders of restricted shares may elect to surrender a portion of their shares on the vesting date to cover their income tax obligations.
These vested restricted shares reacquired by the Company and the Company’s payment of the holders’ income tax obligations are recorded as a treasury share purchase.
For the years ended December 31, 2011, 2010 and 2009, the
Item 6.
Selected Financial Data The following table sets forth selected consolidated financial information from our audited Consolidated Financial Statements as of December 31, 2011, 2010, 2009, 2008 and 2007 and for the five-year period ended December 31,2011.
On April 30, 2010, we acquired the long-term asset management business of Columbia Management Group.
Results presented below include the results of this business after the date of acquisition.
The selected financial data presented below should be read in conjunction with our Consolidated Financial Statements and Notes included elsewhere in this report and ‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations.
’’
## Table 1 ##
Earnings (Loss) Per Share Attributable to Ameriprise Financial, Inc.  Common Shareholders:
## Table 2 ##
(1) During 2007, we recorded non-recurring separation costs as a result of our separation from American Express.
During the year ended December 31, 2007, $236 million ($154 million after-tax) of such costs were incurred.
These costs were primarily associated with establishing the Ameriprise Financial brand, separating and reestablishing our technology platforms and advisor and employee retention programs.
(2) Diluted shares used in this calculation represent basic shares due to the net loss.
Using actual diluted shares would result in anti-dilution.
(3) Balance Sheet data represents assets and liabilities before consolidated investment entities, as reported on our Consolidated Balance Sheets.
We are continuing to invest in people and infrastructure to grow our presence in lines of businesses globally where we see an opportunity for ACE to grow market share at reasonable terms.
We are also continuing to invest in our enterprise risk management capability, our systems and data environment, and our research and development capabilities.
Critical Accounting Estimates Our Consolidated Financial Statements include amounts that, either by their nature or due to requirements of accounting principles generally accepted in the U. S.  (GAAP), are determined using best estimates and assumptions.
While we believe that the amounts included in our Consolidated Financial Statements reflect our best judgment, actual amounts could ultimately materially differ from those currently presented.
We believe the items that require the most subjective and complex estimates are: ?
unpaid loss and loss expense reserves, including long-tail asbestos and environmental (A&E) reserves; ?
future policy benefits reserves; ?
valuation of value of business acquired (VOBA) and amortization of deferred policy acquisition costs and VOBA; ?
the assessment of risk transfer for certain structured insurance and reinsurance contracts; ?
reinsurance recoverable, including a provision for uncollectible reinsurance; ?
impairments to the carrying value of our investment portfolio; ?
the valuation of deferred tax assets; ?
the valuation of derivative instruments related to guaranteed minimum income benefits (GMIB); and ?
the valuation of goodwill.
We believe our accounting policies for these items are of critical importance to our Consolidated Financial Statements.
The following discussion provides more information regarding the estimates and assumptions required to arrive at these amounts and should be read in conjunction with the sections entitled: Prior Period Development, Asbestos and Environmental and Other Run-off Liabilities, Reinsurance Recoverable on Ceded Reinsurance, Investments, Net Realized Gains (Losses), and Other Income and Expense Items.
Unpaid losses and loss expenses As an insurance and reinsurance company, we are required, by applicable laws and regulations and GAAP, to establish loss and loss expense reserves for the estimated unpaid portion of the ultimate liability for losses and loss expenses under the terms of our policies and agreements with our insured and reinsured customers.
The estimate of the liabilities includes provisions for claims that have been reported but unpaid at the balance sheet date (case reserves) and for future obligations from claims that have been incurred but not reported (IBNR) at the balance sheet date (IBNR may also include a provision for additional development on reported claims in instances where the case reserve is viewed to be potentially insufficient).
The reserves provide for liabilities that exist for the Company as of the balance sheet date.
The loss reserve also includes an estimate of expenses associated with processing and settling these unpaid claims (loss expenses).
At December 31, 2008, our gross unpaid loss and loss expense reserves were $37.2 billion and our net unpaid loss and loss expense reserves were $24.2 billion.
With the exception of certain structured settlements, for which the timing and amount of future claim payments are reliably determinable, our loss reserves are not discounted for the time value of money.
In connection with such structured settlements, we carry reserves of $106 million (net of discount).
The table below presents a roll-forward of our unpaid losses and loss expenses for the indicated periods.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="2">December 31,</td></tr><tr><td></td><td>2011</td><td>2010</td></tr><tr><td></td><td colspan="2">(in millions)</td></tr><tr><td>Net unrealized securities gains</td><td>$770</td><td>$615</td></tr><tr><td>Net unrealized derivatives gains (losses)</td><td>-11</td><td>18</td></tr><tr><td>Defined benefit plans</td><td>-75</td><td>-24</td></tr><tr><td>Foreign currency translation</td><td>-46</td><td>-44</td></tr><tr><td>Total</td><td>$638</td><td>$565</td></tr></table>
<table><tr><td> </td><td colspan="5">Years Ended December 31,</td></tr><tr><td> </td><td>2011</td><td>2010</td><td>2009 </td><td>2008</td><td>2007 -1</td></tr><tr><td> </td><td colspan="5">(in millions, except per share data)</td></tr><tr><td> Income Statement Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total net revenues</td><td>$10,192</td><td>$9,512</td><td>$7,397</td><td>$6,433</td><td>$8,001</td></tr><tr><td>Total expenses</td><td>8,807</td><td>7,878</td><td>6,477</td><td>6,877</td><td>6,982</td></tr><tr><td>Income (loss) from continuing operations</td><td>$1,030</td><td>$1,284</td><td>$736</td><td>$-100</td><td>$813</td></tr><tr><td>Income (loss) from discontinued operations, net of tax</td><td>-60</td><td>-24</td><td>1</td><td>10</td><td>-7</td></tr><tr><td>Net income (loss)</td><td>970</td><td>1,260</td><td>737</td><td>-90</td><td>806</td></tr><tr><td>Less: Net income (loss) attributable to noncontrolling interests</td><td>-106</td><td>163</td><td>15</td><td>-54</td><td>-8</td></tr><tr><td>Net income (loss) attributable to Ameriprise Financial</td><td>$1,076</td><td>$1,097</td><td>$722</td><td>$-36</td><td>$814</td></tr><tr><td> Earnings (Loss) Per Share Attributable to Ameriprise Financial, Inc. Common Shareholders:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td> Basic</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income (loss) from continuing operations</td><td>$4.71</td><td>$4.36</td><td>$2.98</td><td>$-0.21</td><td>$3.48</td></tr><tr><td>Income (loss) from discontinued operations</td><td>-0.25</td><td>-0.10</td><td>—</td><td>0.05</td><td>-0.03</td></tr><tr><td>Net income (loss)</td><td>$4.46</td><td>$4.26</td><td>$2.98</td><td>$-0.16</td><td>$3.45</td></tr><tr><td> Diluted</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income (loss) from continuing operations</td><td>$4.61</td><td>$4.27</td><td>$2.95</td><td>$-0.21</td><td>$3.42</td></tr><tr><td>Income (loss) from discontinued operations</td><td>-0.24</td><td>-0.09</td><td>—</td><td>0.05</td><td>-0.03</td></tr><tr><td>Net income (loss)</td><td>$4.37</td><td>$4.18</td><td>$2.95</td><td>$-0.16(2)</td><td>$3.39</td></tr><tr><td> Cash Dividends Declared Per Common Share</td><td>$1.15</td><td>$0.71</td><td>$0.68</td><td>$0.64</td><td>$0.56</td></tr></table>
<table><tr><td> </td><td colspan="5">December 31,</td></tr><tr><td> </td><td>2011 </td><td>2010 </td><td>2009 </td><td>2008 </td><td>2007 </td></tr><tr><td> </td><td colspan="5">(in millions) </td></tr><tr><td> Balance Sheet Data:-3</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Investments</td><td>$38,775</td><td>$36,755</td><td>$36,642</td><td>$27,509</td><td>$30,478</td></tr><tr><td>Separate account assets</td><td>66,780</td><td>68,330</td><td>58,129</td><td>44,746</td><td>61,974</td></tr><tr><td>Total assets before consolidated investment entities</td><td>127,558</td><td>124,343</td><td>112,687</td><td>95,207</td><td>108,371</td></tr><tr><td>Future policy benefits and claims</td><td>31,723</td><td>30,208</td><td>30,886</td><td>29,293</td><td>27,446</td></tr><tr><td>Separate account liabilities</td><td>66,780</td><td>68,330</td><td>58,129</td><td>44,746</td><td>61,974</td></tr><tr><td>Customer deposits</td><td>9,850</td><td>8,779</td><td>8,554</td><td>8,229</td><td>6,206</td></tr><tr><td>Long-term debt</td><td>2,393</td><td>2,317</td><td>1,868</td><td>1,963</td><td>2,018</td></tr><tr><td>Short-term borrowings</td><td>504</td><td>397</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Total liabilities before consolidated investment entities</td><td>117,730</td><td>114,205</td><td>103,464</td><td>89,049</td><td>100,808</td></tr><tr><td>Total Ameriprise Financial, Inc. shareholders' equity</td><td>10,255</td><td>10,725</td><td>9,269</td><td>6,174</td><td>7,802</td></tr></table>

Question: In the year with the most continuing operations, what is the growth rate of net income?
Answer: 0.70963
Reasoning program: subtract(1260,737), divide(#0,737)