10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2009 | |||
Statement Of Income Interest Based Revenue | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 26, 2010) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Revenues | |||
| Non-interest revenues | |||
| Discount revenue | $ 13,389 | 15,025 | 14,596 |
| Net card fees | 2,151 | 2,150 | 1,919 |
| Travel commissions and fees | 1,594 | 2,010 | 1,926 |
| Other commissions and fees | 1,778 | 2,307 | 2,417 |
| Securitization income, net | 400 | 1,070 | 1,507 |
| Other | 2,087 | 2,157 | 1,751 |
| Total non-interest revenues | 21,399 | 24,719 | 24,116 |
| Interest income | |||
| Interest and fees on loans | 4,468 | 6,159 | 6,351 |
| Interest and dividends on investment securities | 804 | 771 | 673 |
| Deposits with banks and other | 59 | 271 | 400 |
| Total interest income | 5,331 | 7,201 | 7,424 |
| Interest expense | |||
| Deposits | 425 | 454 | 566 |
| Short-term borrowings | 37 | 483 | 731 |
| Long-term debt and other | 1,745 | 2,618 | 2,684 |
| Total interest expense | 2,207 | 3,555 | 3,981 |
| Net interest income | 3,124 | 3,646 | 3,443 |
| Total revenues net of interest expense | 24,523 | 28,365 | 27,559 |
| Provisions for losses | |||
| Charge card | 857 | 1,363 | 1,140 |
| Cardmember loans | 4,266 | 4,231 | 2,761 |
| Other | 190 | 204 | 202 |
| Total provisions for losses | 5,313 | 5,798 | 4,103 |
| Total revenues net of interest expense after provisions for losses | 19,210 | 22,567 | 23,456 |
| Expenses | |||
| Marketing, promotion, rewards and cardmember services | 6,467 | 7,361 | 7,817 |
| Salaries and employee benefits | 5,080 | 6,090 | 5,438 |
| Professional services | 2,408 | 2,413 | 2,280 |
| Other, net | 2,414 | 3,122 | 2,227 |
| Total | 16,369 | 18,986 | 17,762 |
| Pretax income from continuing operations | 2,841 | 3,581 | 5,694 |
| Income tax provision | 704 | 710 | 1,568 |
| Income from continuing operations | 2,137 | 2,871 | 4,126 |
| Loss from discontinued operations, net of tax | (7) | (172) | (114) |
| Net income | 2,130 | 2,699 | 4,012 |
| Earnings per Common Share - Basic: (Note 18) | |||
| Income from continuing operations attributable to common shareholders | 1.55 [1] | 2.47 | 3.49 |
| Loss from discontinued operations | (0.01) | (0.14) | (0.09) |
| Net income attributable to common shareholders | 1.54 | 2.33 | 3.40 |
| Earnings per Common Share - Diluted: (Note 18) | |||
| Income from continuing operations attributable to common shareholders | 1.54 | 2.47 | 3.44 |
| Loss from discontinued operations | 0.00 | (0.15) | (0.10) |
| Net income attributable to common shareholders | 1.54 | 2.32 | 3.34 |
| Average common shares outstanding for earnings per common share: | |||
| Basic | 1,168 | 1,154 | 1,173 |
| Diluted | 1,171 | 1,156 | 1,193 |
| [1] Represents income from continuing operations or net income, as applicable, less (i) accelerated preferred dividend accretion of $212 million for the year ended December 31, 2009 due to the repurchase of $3.39 billion of preferred shares issued as part of the Capital Purchase Program (CPP), (ii) preferred share dividends and related accretion of $94 million for the year ended December 31, 2009, and (iii) earnings allocated to participating share awards and other items of $22 million, $15 million and $26 mill | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2009 | |||
Statement Of Cash Flows Indirect Deposit Based Operations | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 26, 2010) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 2,130 | 2,699 | 4,012 |
| Loss from discontinued operations, net of tax | 7 | 172 | 114 |
| Income from continuing operations | 2,137 | 2,871 | 4,126 |
| Adjustments to reconcile income from continuing operations to net cash provided by operating activities | |||
| Provisions for losses | 5,313 | 5,798 | 4,103 |
| Depreciation and amortization | 1,070 | 712 | 648 |
| Deferred taxes, acquisition costs and other | (1,429) | 442 | (851) |
| Stock-based compensation | 202 | 229 | 276 |
| Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||
| Other receivables | (730) | 101 | (927) |
| Other assets | 526 | (2,256) | (226) |
| Accounts payable and other liabilities | (23) | 885 | 1,013 |
| Travelers Cheques outstanding | (449) | (770) | (22) |
| Net cash (used in) provided by operating activities attributable to discontinued operations | (233) | 129 | (129) |
| Net cash provided by operating activities | 6,384 | 8,141 | 8,011 |
| Cash Flows from Investing Activities | |||
| Sale of investments | 2,930 | 4,657 | 3,034 |
| Maturity and redemption of investments | 2,900 | 9,620 | 6,154 |
| Purchase of investments | (13,719) | (14,724) | (9,592) |
| Net decrease (increase) in cardmember loans/receivables | 6,154 | 5,940 | (20,377) |
| Proceeds from cardmember loan securitizations | 2,244 | 9,619 | 7,825 |
| Maturities of cardmember loan securitizations | (4,800) | (4,670) | (3,500) |
| Purchase of premises and equipment | (772) | (977) | (938) |
| Sale of premises and equipment | 50 | 27 | 55 |
| Acquisitions, net of cash acquired | 0 | (4,589) | (124) |
| Net (increase) decrease in restricted cash | (1,935) | 33 | 56 |
| Net cash provided by investing activities attributable to discontinued operations | 196 | 2,625 | 786 |
| Net cash (used in) provided by investing activities | (6,752) | 7,561 | (16,621) |
| Cash Flows from Financing Activities | |||
| Net change in interest-bearing deposits | 11,037 | 358 | 3,361 |
| Net (decrease) increase in short-term borrowings | (6,574) | (8,693) | 2,682 |
| Issuance of long-term debt | 6,697 | 19,213 | 20,833 |
| Principal payments on long-term debt | (15,197) | (13,787) | (9,214) |
| Issuance of American Express Series A preferred shares and warrants | 3,389 | 0 | 0 |
| Issuance of American Express common shares | 614 | 176 | 852 |
| Repurchase of American Express Series A preferred shares | (3,389) | 0 | 0 |
| Repurchase of American Express stock warrants | (340) | 0 | 0 |
| Repurchase of American Express common shares | 0 | (218) | (3,572) |
| Dividends paid | (924) | (836) | (712) |
| Net cash provided by (used in) financing activities attributable to discontinued operations | 40 | (6,653) | 1,236 |
| Net cash (used in) provided by financing activities | (4,647) | (10,440) | 15,466 |
| Effect of exchange rate changes on cash | 7 | 20 | 166 |
| Net (decrease) increase in cash and cash equivalents | (5,008) | 5,282 | 7,022 |
| Cash and cash equivalents at beginning of year includes cash of discontinued operations: 2009, $3; 2008, $6,390; 2007, $4,445 | 20,550 | 15,268 | |
| Cash and cash equivalents at end of year includes cash of discontinued operations: 2009, $0; 2008, $3; 2007, $6,390 | 15,542 | 20,550 | 15,268 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN EXPRESS CO | ||
Ticker: AXP Fiscal Year: 2009 | ||
Statement Of Financial Position Unclassified | ||
Period Ending Dec 31, 2009 10-K (Filed: Feb 26, 2010) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2009 | Dec 31, 2008 | |
| Assets | ||
| Cash and cash equivalents | ||
| Cash and cash due from banks | $ 881 | 1,574 |
| Interest-bearing deposits in other banks (including securities purchased under resale agreements: 2009, $212; 2008, $141) | 10,597 | 6,554 |
| Short-term investment securities | 4,064 | 12,419 |
| Total | 15,542 | 20,547 |
| Accounts receivable | ||
| Cardmember receivables, less reserves: 2009, $546; 2008, $810 | 33,197 | 32,178 |
| Other receivables, less reserves: 2009, $109; 2008, $118 | 5,007 | 4,393 |
| Loans | ||
| Cardmember loans, less reserves: 2009, $3,268; 2008, $2,570 | 29,504 | 39,641 |
| Other, less reserves: 2009, $27; 2008, $39 | 506 | 1,018 |
| Investment securities | 24,337 | 12,526 |
| Premises and equipment - at cost, less accumulated depreciation: 2009, $4,130; 2008, $3,743 | 2,782 | 2,948 |
| Other assets | 13,213 | 12,607 |
| Assets of discontinued operations | 0 | 216 |
| Total assets | 124,088 | 126,074 |
| Liabilities and Shareholders' Equity | ||
| Liabilities | ||
| Customer deposits | 26,289 | 15,486 |
| Travelers Cheques outstanding | 5,975 | 6,433 |
| Accounts payable | 8,926 | 8,428 |
| Short-term borrowings | 2,344 | 8,993 |
| Long-term debt | 52,338 | 60,041 |
| Other liabilities | 13,810 | 14,592 |
| Liabilities of discontinued operations | 0 | 260 |
| Total liabilities | 109,682 | 114,233 |
| Commitments and contingencies (see Note 24) | ||
| Shareholders' Equity | ||
| Common shares, $.20 par value, authorized 3.6 billion shares; issued and outstanding 1,192 million shares in 2009 and 1,160 million shares in 2008 | 237 | 232 |
| Additional paid-in capital | 11,144 | 10,496 |
| Retained earnings | 3,737 | 2,719 |
| Accumulated other comprehensive (loss) income | ||
| Net unrealized securities gains (losses), net of tax: 2009, $(291); 2008, $458 | 507 | (699) |
| Net unrealized derivatives losses, net of tax: 2009, $15; 2008, $44 | (28) | (80) |
| Foreign currency translation adjustments, net of tax: 2009, $31; 2008, $64 | (722) | (368) |
| Net unrealized pension and other postretirement benefit costs, net of tax: 2009, $244; 2008, $216 | (469) | (459) |
| Total accumulated other comprehensive loss | (712) | (1,606) |
| Total shareholders' equity | 14,406 | 11,841 |
| Total liabilities and shareholders' equity | 124,088 | 126,074 |
| External Links | |
| AMERICAN EXPRESS CO (AXP) Fiscal Year 2009 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |