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: 2016 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenues | |||
| Discount revenue earned from purchased Card Member receivables and loans | $ 471 | 479 | 502 |
| Interest income from affiliates and other | 207 | 246 | 384 |
| Finance revenue | 40 | 30 | 43 |
| Total revenues | 718 | 755 | 929 |
| Expenses | |||
| Provisions for losses | 151 | 165 | 202 |
| Interest expense | 317 | 350 | 496 |
| Interest expense to affiliates | 24 | 10 | 6 |
| Other, net | 14 | (22) | (93) |
| Total expenses | 506 | 503 | 611 |
| Pretax income | 212 | 252 | 318 |
| Income tax provision (benefit) | 15 | 38 | (35) |
| Net income | 197 | 214 | 353 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2016 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income | $ 197 | 214 | 353 |
| Other comprehensive Income (loss): | |||
| Foreign currency translation adjustments, net of tax | (107) | (369) | (309) |
| Other comprehensive loss | (107) | (369) | (309) |
| Comprehensive income (loss) | 90 | (155) | 44 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 197 | 214 | 353 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provisions for losses | 151 | 165 | 202 |
| Amortization of underwriting expenses | 23 | 30 | 24 |
| Deferred taxes | 14 | 8 | (17) |
| Changes in operating assets and liabilities: | |||
| Interest, taxes and other amounts due to/from affiliates | (39) | (262) | 44 |
| Other operating assets and liabilities | 475 | 458 | (455) |
| Net cash provided by operating activities | 821 | 613 | 151 |
| Cash Flows from Investing Activities | |||
| Net (increase) in Card Member receivables and loans, including held for sale | (1,059) | (3,592) | (251) |
| Net decrease (increase) in loans to affiliates and other | 2,973 | 152 | (4,746) |
| Net (decrease) increase in due to/from affiliates | (515) | 2,605 | 662 |
| Net cash provided by (used in) investing activities | 1,399 | (835) | (4,335) |
| Cash Flows from Financing Activities | |||
| Net increase in short-term debt | 873 | 1,351 | 569 |
| Net (decrease) increase in short-term debt to affiliates | (861) | 1,112 | 798 |
| Issuance of long-term debt | 3,791 | 6,522 | 7,509 |
| Principal payments on long-term debt | (4,961) | (8,545) | (4,355) |
| Dividends paid | 0 | (115) | (342) |
| Net cash (used in) provided by financing activities | (1,158) | 325 | 4,179 |
| Effect of foreign currency exchange rates on cash and cash equivalents | (24) | (4) | (7) |
| Net increase (decrease) in cash and cash equivalents | 1,038 | 99 | (12) |
| Cash and cash equivalents at beginning of year | 173 | 74 | |
| Cash and cash equivalents at end of year | 1,211 | 173 | 74 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN EXPRESS CO | ||
Ticker: AXP Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Cash and cash equivalents | $ 1,211 | 173 |
| Card Member receivables held for sale | 0 | 24 |
| Card Member receivables, less reserves | 18,108 | 17,493 |
| Card Member loans, less reserves | 471 | 431 |
| Loans to affiliates and other | 10,659 | 14,262 |
| Due from affiliates | 997 | 615 |
| Other assets | 490 | 287 |
| Total assets | 31,936 | 33,285 |
| Liabilities and Shareholder's Equity | ||
| Liabilities | ||
| Short-term debt | 2,993 | 2,120 |
| Short-term debt to affiliates | 4,559 | 5,439 |
| Long-term debt | 20,512 | 21,725 |
| Total debt | 28,064 | 29,284 |
| Due to affiliates | 1,517 | 1,727 |
| Accrued interest and other liabilities | 146 | 155 |
| Total liabilities | 29,727 | 31,166 |
| Shareholder's Equity | ||
| Common stock, $0.10 par value, authorized 3 million shares; issued and outstanding 1.5 million shares | 0 | 0 |
| Additional paid-in-capital | 161 | 161 |
| Retained earnings | 3,311 | 3,114 |
| Accumulated other comprehensive loss: | ||
| Foreign currency translation adjustments, net of tax | (1,263) | (1,156) |
| Total shareholder's equity | 2,209 | 2,119 |
| Total liabilities and shareholder's equity | 31,936 | 33,285 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2016 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 17, 2017) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenues | |||
| Non-interest revenues | |||
| Discount revenue | $ 18,680 | 19,297 | 19,389 |
| Net card fees | 2,886 | 2,700 | 2,712 |
| Other fees and commissions | 2,753 | 2,866 | 3,626 |
| Other | 2,029 | 2,033 | 2,989 |
| Total non-interest revenues | 26,348 | 26,896 | 28,716 |
| Interest income | |||
| Interest on loans | 7,205 | 7,309 | 6,929 |
| Interest and dividends on investment securities | 131 | 157 | 179 |
| Deposits with banks and other | 139 | 79 | 71 |
| Total interest income | 7,475 | 7,545 | 7,179 |
| Interest expense | |||
| Deposits | 598 | 475 | 373 |
| Long-term debt and other | 1,106 | 1,148 | 1,334 |
| Total interest expense | 1,704 | 1,623 | 1,707 |
| Net interest income | 5,771 | 5,922 | 5,472 |
| Total revenues net of interest expense | 32,119 | 32,818 | 34,188 |
| Provisions for losses | |||
| Provisions | 696 | 737 | 792 |
| Card member loans | 1,235 | 1,190 | 1,138 |
| Other | 95 | 61 | 114 |
| Total provisions for losses | 2,026 | 1,988 | 2,044 |
| Total revenues net of interest expense after provisions for losses | 30,093 | 30,830 | 32,144 |
| Expenses | |||
| Marketing and promotion | 3,650 | 3,109 | 3,216 |
| Card Member rewards | 6,793 | 6,996 | 6,931 |
| Card Member services and other | 1,133 | 1,018 | 822 |
| Salaries and employee benefits | 5,259 | 4,976 | 6,095 |
| Other,net | 5,162 | 6,793 | 6,089 |
| Total | 21,997 | 22,892 | 23,153 |
| Pretax income | 8,096 | 7,938 | 8,991 |
| Income tax provision | 2,688 | 2,775 | 3,106 |
| Net income attributable to common shareholders | 5,408 | 5,163 | 5,885 |
| Earnings per Common Share | |||
| Basic | 5.67 [1] | 5.07 | 5.58 |
| Diluted | 5.65 | 5.05 | 5.56 |
| Average common shares outstanding for earnings per common share: | |||
| Basic | 933 | 999 | 1,045 |
| Diluted | 935 | 1,003 | 1,051 |
| [1] Represents net income less (i) earnings allocated to participating share awards of $ 43 million, $ 38 million and $ 46 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, and (ii) dividends on preferred shares of $ 80 million , $ 62 million and nil for the years ended December 31, 2016 , 2015 and 2014 , respectively . | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 17, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income | $ 5,408 | 5,163 | 5,885 |
| Other comprehensive income (loss) | |||
| Net unrealized securities (losses) gains, net of tax | (51) | (38) | 33 |
| Foreign currency translation adjustments, net of tax | (218) | (545) | (409) |
| Net unrealized pension and other postretirement benefit gains, net of tax | 19 | (32) | (117) |
| Other comprehensive loss | (250) | (615) | (493) |
| Comprehensive income | 5,158 | 4,548 | 5,392 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 17, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 5,408 | 5,163 | 5,885 |
| Adjustments to reconcile income from continuing operations to net cash provided by operating activities: | |||
| Provisions for losses | 2,026 | 1,988 | 2,044 |
| Depreciation and amortization | 1,095 | 1,043 | 1,012 |
| Deferred taxes and other | (1,132) | 507 | (941) |
| Stock-based compensation | 254 | 234 | 290 |
| Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||
| Other receivables | (281) | (714) | (56) |
| Other assets | 192 | 2,058 | 650 |
| Accounts payable and other liabilities | 1,072 | 699 | 2,594 |
| Travelers Cheques and other prepaid products | (410) | (367) | (488) |
| Premium paid on debt exchange | 0 | 0 | 0 |
| Net cash provided by operating activities | 8,224 | 10,611 | 10,990 |
| Cash Flows from Investing Activities | |||
| Sales of available-for-sale investment securities | 88 | 12 | 242 |
| Maturities and redemptions of available-for-sale investment securities | 2,429 | 2,091 | 1,116 |
| Sales of other investments | 10 | 0 | 990 |
| Purchase of investments | (2,162) | (1,713) | (886) |
| Net decrease (increase) in Card Member receivables and loans, including held for sale | 3,220 | (6,967) | (8,077) |
| Purchase of premises and equipment | (1,375) | (1,341) | (1,195) |
| Acquisitions/dispositions, net of cash acquired | (487) | (155) | (229) |
| Net decrease (increase) in restricted cash | 145 | (120) | 72 |
| Net cash provided by (used in) investing activities | 1,868 | (8,193) | (7,967) |
| Cash Flows from Financing Activities | |||
| Net (decrease) increase in customer deposits | (1,935) | 10,878 | 2,459 |
| Net increase (decrease) in short-term borrowings | 888 | 1,395 | (1,374) |
| Issuance of long-term debt | 8,824 | 9,923 | 16,020 |
| Principal payments on long term debt | (9,848) | (19,246) | (12,768) |
| Issuance of American Express preferred shares | 0 | 841 | 742 |
| Issuance of American Express common shares | 177 | 193 | 362 |
| Repurchase of American Express common shares | (4,431) | (4,480) | (4,389) |
| Dividends paid | (1,207) | (1,172) | (1,041) |
| Net cash (used in) provided by financing activities | (7,532) | (1,668) | 11 |
| Effect of foreign currency exchange rates on cash and cash equivalents | (114) | (276) | (232) |
| Net increase in cash and cash equivalents | 2,446 | 474 | 2,802 |
| Cash and cash equivalents at beginning of year | 22,762 | 22,288 | |
| Cash and cash equivalents at end of year | 25,208 | 22,762 | 22,288 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN EXPRESS CO | ||
Ticker: AXP Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 17, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Cash and cash equivalents | ||
| Cash and cash due from banks | $ 3,278 | 2,935 |
| Interest-bearing deposits in other banks | 20,779 | 19,569 |
| Short-term investment securities | 1,151 | 258 |
| Total cash and cash equivalents | 25,208 | 22,762 |
| Card Member loans and receivables held for sale | 0 | 14,992 |
| Accounts receivable | ||
| Card Member receivables | 46,841 | 43,671 |
| Other receivables | 3,232 | 3,024 |
| Loans | ||
| Card Member loans | 64,042 | 57,545 |
| Other loans, net | 1,419 | 1,254 |
| Investment securities | 3,157 | 3,759 |
| Premises and equipment | 4,433 | 4,108 |
| Other assets | 10,561 | 10,069 |
| Total assets | 158,893 | 161,184 |
| Liabilities and Shareholders' Equity | ||
| Liabilities | ||
| Customer deposits | 53,042 | 54,997 |
| Travelers Cheques and other prepaid products | 2,812 | 3,247 |
| Accounts payable | 11,190 | 11,822 |
| Short-term borrowings | 5,581 | 4,812 |
| Long-term debt | 46,990 | 48,061 |
| Other liabilities | 18,777 | 17,572 |
| Total liabilities | 138,392 | 140,511 |
| Shareholders' Equity | ||
| Preferred shares issued | 0 | 0 |
| Common shares | 181 | 194 |
| Additional paid-in capital | 12,733 | 13,348 |
| Retained earnings | 10,371 | 9,665 |
| Accumulated other comprehensive income (loss) | ||
| Net unrealized securities gains, net of tax | 7 | 58 |
| Foreign currency translation adjustments, net of tax | (2,262) | (2,044) |
| Net unrealized pension and other postretirement benefit losses, net of tax | (529) | (548) |
| Total accumulated other comprehensive loss | (2,784) | (2,534) |
| Total shareholders' equity | 20,501 | 20,673 |
| Total liabilities and shareholders' equity | 158,893 | 161,184 |
| External Links | |
| AMERICAN EXPRESS CO (AXP) Fiscal Year 2016 | |
| 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 |