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: 2015 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Mar 14, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenues | |||
| Discount revenue earned from purchased Card Member receivables and loans | $ 479 | 502 | 547 |
| Interest income from affiliates and other | 246 | 384 | 414 |
| Finance revenue | 30 | 43 | 46 |
| Total revenues | 755 | 929 | 1,007 |
| Expenses | |||
| Provisions for losses | 165 | 202 | 148 |
| Interest expense | 350 | 496 | 590 |
| Interest expense to affiliates | 10 | 6 | 7 |
| Other, net | (22) | (93) | (88) |
| Total expenses | 503 | 611 | 657 |
| Pretax income | 252 | 318 | 350 |
| Income tax provision (benefit) | 38 | (35) | (96) |
| Net income | 214 | 353 | 446 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Mar 14, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net income | $ 214 | 353 | 446 |
| Other comprehensive (loss) income: | |||
| Foreign currency translation adjustments, net of tax | (369) | (309) | (486) |
| Other comprehensive loss | (369) | (309) | (486) |
| Comprehensive (loss) income | (155) | 44 | (40) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Mar 14, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 214 | 353 | 446 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provisions for losses | 165 | 202 | 148 |
| Amortization of underwriting expense | 30 | 24 | 20 |
| Deferred taxes | 8 | (17) | 9 |
| Changes in operating assets and liabilities: | |||
| Interest, taxes and other amounts due to/from affiliates | (262) | 44 | (199) |
| Other operating assets and liabilities | 458 | (455) | (675) |
| Net cash provided by (used in) operating activities | 613 | 151 | (251) |
| Cash Flows from Investing Activities | |||
| Net (increase) decrease in Card Member receivables and loans, including held for sale | (3,592) | (251) | 936 |
| Net decrease (increase) in loans to affiliates and other | 152 | (4,746) | 1,210 |
| Net decrease in due from affiliates | 2,605 | 662 | 6 |
| Net cash (used in) provided by investing activities | (835) | (4,335) | 2,152 |
| Cash Flows from Financing Activities | |||
| Net increase in short-term debt | 1,351 | 569 | 179 |
| Net increase (decrease) in short-term debt to affiliates | 1,112 | 798 | (524) |
| Issuance of long-term debt | 6,522 | 7,509 | 3,549 |
| Principal payments on long-term debt | (8,545) | (4,355) | (4,845) |
| Dividends paid | (115) | (342) | (441) |
| Net cash provided by (used in) financing activities | 325 | 4,179 | (2,082) |
| Effect of foreign currency exchange rates on cash and cash equivalents | (4) | (7) | (8) |
| Net increase (decrease) in cash and cash equivalents | 99 | (12) | (189) |
| Cash and cash equivalents at beginning of period | 74 | 86 | |
| Cash and cash equivalents at end of period | 173 | 74 | 86 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN EXPRESS CO | ||
Ticker: AXP Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2015 10-K (Filed: Mar 14, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Cash and cash equivalents | $ 173 | 74 |
| Card Member receivables held for sale | 24 | 0 |
| Card Member receivables, less reserves | 17,493 | 14,413 |
| Card Member loans, less reserves | 431 | 398 |
| Loans to affiliates and other | 14,262 | 15,303 |
| Due from affiliates | 615 | 2,206 |
| Other assets | 287 | 446 |
| Total assets | 33,285 | 32,840 |
| Liabilities and Shareholder's Equity | ||
| Liabilities | ||
| Short-term debt | 2,120 | 769 |
| Short-term debt to affiliates | 5,439 | 4,334 |
| Long-term debt | 21,725 | 24,282 |
| Total debt | 29,284 | 29,385 |
| Due to affiliates | 1,727 | 888 |
| Accrued interest and other liabilities | 155 | 178 |
| Total liabilities | 31,166 | 30,451 |
| Shareholder's Equity | ||
| Common stock, $.10 par value, authorized 3 million shares; issued and outstanding 1.5 million shares | 0 | 0 |
| Additional paid-in-capital | 161 | 161 |
| Retained earnings | 3,114 | 3,015 |
| Accumulated other comprehensive loss | ||
| Foreign currency translation adjustments, net of tax | (1,156) | (787) |
| Total accumulated other comprehensive loss | (1,156) | (787) |
| Total shareholder's equity | 2,119 | 2,389 |
| Total liabilities and shareholder's equity | 33,285 | 32,840 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2015 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenues | |||
| Non-interest revenues | |||
| Discount revenue | $ 19,297 | 19,389 | 18,591 |
| Net card fees | 2,700 | 2,712 | 2,631 |
| Travel commissions and fees | 349 | 1,118 | 1,913 |
| Other commissions and fees | 2,517 | 2,508 | 2,414 |
| Other | 2,033 | 2,989 | 2,274 |
| Total non-interest revenues | 26,896 | 28,716 | 27,823 |
| Interest income | |||
| Interest on loans | 7,309 | 6,929 | 6,718 |
| Interest and dividends on investment securities | 157 | 179 | 201 |
| Deposits with banks and other | 79 | 71 | 86 |
| Total interest income | 7,545 | 7,179 | 7,005 |
| Interest expense | |||
| Deposits | 475 | 373 | 442 |
| Long-term debt and other | 1,148 | 1,334 | 1,516 |
| Total interest expense | 1,623 | 1,707 | 1,958 |
| Net interest income | 5,922 | 5,472 | 5,047 |
| Total revenues net of interest expense | 32,818 | 34,188 | 32,870 |
| Provisions for losses | |||
| Provisions | 737 | 792 | 648 |
| Card member loans | 1,190 | 1,138 | 1,115 |
| Other | 61 | 114 | 69 |
| Total provisions for losses | 1,988 | 2,044 | 1,832 |
| Total revenues net of interest expense after provisions for losses | 30,830 | 32,144 | 31,038 |
| Expenses | |||
| Marketing and promotion | 3,109 | 3,216 | 2,939 |
| Card Member rewards | 6,996 | 6,931 | 6,457 |
| Card Member services and other | 1,018 | 822 | 767 |
| Salaries and employee benefits | 4,976 | 6,095 | 6,191 |
| Other,net | 6,793 | 6,089 | 6,796 |
| Total | 22,892 | 23,153 | 23,150 |
| Pretax income | 7,938 | 8,991 | 7,888 |
| Income tax provision | 2,775 | 3,106 | 2,529 |
| Net income attributable to common shareholders | 5,163 | 5,885 | 5,359 |
| Earnings per Common Share | |||
| Basic | 5.07 [1] | 5.58 | 4.91 |
| Diluted | 5.05 | 5.56 | 4.88 |
| Average common shares outstanding for earnings per common share: | |||
| Basic | 999 | 1,045 | 1,082 |
| Diluted | 1,003 | 1,051 | 1,089 |
| [1] Represents net income less ( i ) earnings allocated to participating share awards of $ 38 million, $ 46 million and $ 47 million for the years ended December 31, 2015 , 2014 and 2013 , respectively , and (ii) dividends on preferred shares of $ 62 million for the year ended December 31, 2015 , and nil f or the years ended December 31, 2014 and 2013 . | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net income | $ 5,163 | 5,885 | 5,359 |
| Other comprehensive income (loss) | |||
| Net unrealized securities (losses) gains, net of tax | (38) | 33 | (252) |
| Foreign currency translation adjustments, net of tax | (545) | (409) | (336) |
| Net unrealized pension and other postretirement benefit gains, net of tax | (32) | (117) | 89 |
| Other comprehensive loss | (615) | (493) | (499) |
| Comprehensive income | 4,548 | 5,392 | 4,860 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 5,163 | 5,885 | 5,359 |
| Adjustments to reconcile income from continuing operations to net cash provided by operating activities: | |||
| Provisions for losses | 1,988 | 2,044 | 1,832 |
| Depreciation and amortization | 1,043 | 1,012 | 1,020 |
| Deferred taxes and other | 506 | (941) | (5) |
| Stock-based compensation | 234 | 290 | 350 |
| Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||
| Other receivables | (673) | (56) | (73) |
| Other assets | 2,058 | 650 | 335 |
| Accounts payable and other liabilities | 1,020 | 2,594 | 88 |
| Travelers Cheques and other prepaid products | (367) | (488) | (359) |
| Premium paid on debt exchange | 0 | 0 | 0 |
| Net cash provided by operating activities | 10,972 | 10,990 | 8,547 |
| Cash Flows from Investing Activities | |||
| Sales of available-for-sale investment securities | 12 | 242 | 217 |
| Maturities and redemptions of available-for-sale investment securities | 2,091 | 1,116 | 1,292 |
| Sales of other investments | 0 | 990 | 0 |
| Purchase of investments | (1,713) | (886) | (1,348) |
| Net increase in Card Member receivables and loans, including held for sale | (6,967) | (8,077) | (6,301) |
| Purchase of premises and equipment | (1,341) | (1,195) | (1,006) |
| Acquisitions/dispositions, net of cash acquired | (155) | (229) | (195) |
| Net (increase) decrease in restricted cash | (120) | 72 | 72 |
| Net cash used in investing activities | (8,193) | (7,967) | (7,269) |
| Cash Flows from Financing Activities | |||
| Net increase in customer deposits | 10,878 | 2,459 | 1,195 |
| Net increase (decrease) in short-term borrowings | 1,395 | (1,374) | 1,843 |
| Issuance of long-term debt | 9,926 | 16,020 | 11,995 |
| (Principal payments on) / issuance of long term debt | (19,610) | (12,768) | (14,763) |
| Issuance of American Express preferred shares | 841 | 742 | 0 |
| Issuance of American Express common shares | 193 | 362 | 721 |
| Repurchase of American Express common shares | (4,480) | (4,389) | (3,943) |
| Dividends paid | (1,172) | (1,041) | (939) |
| Net cash provided by (used in) financing activities | (2,029) | 11 | (3,891) |
| Effect of exchange rate changes on cash and cash equivalents | (276) | (232) | (151) |
| Net increase (decrease) in cash and cash equivalents | 474 | 2,802 | (2,764) |
| Cash and cash equivalents at beginning of year | 22,288 | 19,486 | |
| Cash and cash equivalents at end of year | 22,762 | 22,288 | 19,486 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN EXPRESS CO | ||
Ticker: AXP Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Cash and cash equivalents | ||
| Cash and cash due from banks | $ 2,935 | 2,628 |
| Interest-bearing deposits in other banks | 19,569 | 19,190 |
| Short-term investment securities | 258 | 470 |
| Total cash and cash equivalents | 22,762 | 22,288 |
| Card Member loans and receivables held for sale | 14,992 | 0 |
| Accounts receivable | ||
| Card Member receivables | 43,671 | 44,386 |
| Other receivables | 3,024 | 2,614 |
| Loans | ||
| Card Member loans | 57,545 | 69,184 |
| Other loans | 1,254 | 920 |
| Investment securities | 3,759 | 4,431 |
| Premises and equipment | 4,108 | 3,938 |
| Other assets | 10,069 | 11,342 |
| Total assets | 161,184 | 159,103 |
| Liabilities and Shareholders' Equity | ||
| Liabilities | ||
| Customer deposits | 54,997 | 44,171 |
| Travelers Cheques and other prepaid products | 3,247 | 3,673 |
| Accounts payable | 11,822 | 11,300 |
| Short-term borrowings | 4,812 | 3,480 |
| Long-term debt | 48,061 | 57,955 |
| Other liabilities | 17,572 | 17,851 |
| Total liabilities | 140,511 | 138,430 |
| Shareholders' Equity | ||
| Preferred shares issued | 0 | 0 |
| Common shares | 194 | 205 |
| Additional paid-in capital | 13,348 | 12,874 |
| Retained earnings | 9,665 | 9,513 |
| Accumulated other comprehensive income (loss) | ||
| Net unrealized securities gains, net of tax | 58 | 96 |
| Foreign currency translation adjustments, net of tax | (2,044) | (1,499) |
| Net unrealized pension and other postretirement benefit losses, net of tax | (548) | (516) |
| Total accumulated other comprehensive loss | (2,534) | (1,919) |
| Total shareholders' equity | 20,673 | 20,673 |
| Total liabilities and shareholders' equity | 161,184 | 159,103 |
| External Links | |
| AMERICAN EXPRESS CO (AXP) Fiscal Year 2015 | |
| 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 |