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: 2017 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2017 10-K/A (Amendment Filed: June 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenues | |||
| Discount revenue earned from purchased Card Member receivables and loans | $ 760 | 471 | 479 |
| Interest income from affiliates and other | 279 | 207 | 246 |
| Finance revenue | 48 | 40 | 30 |
| Total revenues | 1,087 | 718 | 755 |
| Expenses | |||
| Provisions for losses | 244 | 151 | 165 |
| Interest expense | 495 | 317 | 350 |
| Interest expense to affiliates | 58 | 24 | 10 |
| Other, net | 15 | 14 | (22) |
| Total expenses | 812 | 506 | 503 |
| Pretax income | 275 | 212 | 252 |
| Income tax provision | 878 | 15 | 38 |
| Net (loss) income | (603) | 197 | 214 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2017 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K/A (Amendment Filed: June 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net (loss) income | $ (603) | 197 | 214 |
| Other comprehensive income: | |||
| Foreign currency translation adjustments, net of tax | 265 | (107) | (369) |
| Other comprehensive income (loss) | 265 | (107) | (369) |
| Comprehensive (loss) income | (338) | 90 | (155) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K/A (Amendment Filed: June 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash Flows from Operating Activities | |||
| Net (loss) income | $ (603) | 197 | 214 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Provisions for losses | 244 | 151 | 165 |
| Amortization of underwriting expense | 28 | 23 | 30 |
| Deferred taxes | 55 | 14 | 8 |
| Changes in operating assets and liabilities: | |||
| Interest, taxes and other amounts due to/from affiliates | 1,088 | (39) | (262) |
| Other operating assets and liabilities | (378) | 475 | 458 |
| Net cash provided by operating activities | 434 | 821 | 613 |
| Cash Flows from Investing Activities | |||
| Net increase in Card Member receivables and loans, including held for sale | (1,998) | (1,059) | (3,592) [1] |
| Increase in interest bearing restricted cash to affiliates | (100) | 0 | 0 |
| Net (increase) decrease in loans to affiliates and other | (1,245) | 2,973 | 152 |
| Net (decrease) increase in due to/from affiliates | (1,718) | (515) | 2,605 |
| Net cash (used in) provided by investing activities | (5,061) | 1,399 | (835) |
| Cash Flows from Financing Activities | |||
| Net (decrease) increase in short-term debt | (1,685) | 873 | 1,351 |
| Net increase (decrease) in short-term debt to affiliates | 1,414 | (861) | 1,112 |
| Proceeds from long-term debt | 8,438 | 3,791 | 6,522 |
| Principal payments of long-term debt | (4,900) | (4,961) | (8,545) |
| Proceeds from long-term debt to affiliates | 270 | 0 | 0 |
| Dividends paid | 0 | 0 | (115) |
| Net cash provided by (used in) financing activities | 3,537 | (1,158) | 325 |
| Effect of foreign currency exchange rates on cash and cash equivalents | 75 | (24) | (4) |
| Net (decrease) increase in cash and cash equivalents | (1,015) | 1,038 | 99 |
| Cash and cash equivalents at beginning of year | 1,211 | 173 | |
| Cash and cash equivalents at end of year | 196 | 1,211 | 173 |
| [1] Refer to Note 1 for additional information | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN EXPRESS CO | ||
Ticker: AXP Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K/A (Amendment Filed: June 22, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Cash and cash equivalents | $ 196 | 1,211 |
| Card Member receivables, less reserves | 20,131 | 18,108 |
| Card Member loans, less reserves | 556 | 471 |
| Loans to affiliates and other | 14,527 | 10,659 |
| Due from affiliates | 189 | 997 |
| Other assets | 290 | 490 |
| Total assets | 35,889 | 31,936 |
| Liabilities and Shareholder's Equity | ||
| Liabilities | ||
| Short-term debt | 1,308 | 2,993 |
| Short-term debt to affiliates | 5,997 | 4,559 |
| Long-term debt | 24,153 | 20,512 |
| Long-term debt to affiliates | 270 | 0 |
| Total debt | 31,728 | 28,064 |
| Due to affiliates | 1,988 | 1,517 |
| Accrued interest and other liabilities | 302 | 146 |
| Total liabilities | 34,018 | 29,727 |
| 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 | 2,708 | 3,311 |
| Accumulated other comprehensive loss: | ||
| Foreign currency translation adjustments, net of tax | (998) | (1,263) |
| Total accumulated other comprehensive loss | (998) | (1,263) |
| Total shareholder's equity | 1,871 | 2,209 |
| Total liabilities and shareholder's equity | 35,889 | 31,936 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2017 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2017 10-K (Superseded Filed: Mar 1, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenues | |||
| Discount revenue earned from purchased Card Member receivables and loans | $ 760 | 471 | 479 |
| Interest income from affiliates and other | 279 | 207 | 246 |
| Finance revenue | 48 | 40 | 30 |
| Total revenues | 1,087 | 718 | 755 |
| Expenses | |||
| Provisions for losses | 244 | 151 | 165 |
| Interest expense | 495 | 317 | 350 |
| Interest expense to affiliates | 58 | 24 | 10 |
| Other, net | 15 | 14 | (22) |
| Total expenses | 812 | 506 | 503 |
| Pretax income | 275 | 212 | 252 |
| Income tax provision | 878 | 15 | 38 |
| Net (loss) income | (603) | 197 | 214 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2017 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Superseded Filed: Mar 1, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net (loss) income | $ (603) | 197 | 214 |
| Other comprehensive income: | |||
| Foreign currency translation adjustments, net of tax | 265 | (107) | (369) |
| Other comprehensive income (loss) | 265 | (107) | (369) |
| Comprehensive (loss) income | (338) | 90 | (155) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Superseded Filed: Mar 1, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash Flows from Operating Activities | |||
| Net (loss) income | $ (603) | 197 | 214 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Provisions for losses | 244 | 151 | 165 |
| Amortization of underwriting expense | 28 | 23 | 30 |
| Deferred taxes | 55 | 14 | 8 |
| Changes in operating assets and liabilities: | |||
| Interest, taxes and other amounts due to/from affiliates | 1,088 | (39) | (262) |
| Other operating assets and liabilities | (378) | 475 | 458 |
| Net cash provided by operating activities | 434 | 821 | 613 |
| Cash Flows from Investing Activities | |||
| Net increase in Card Member receivables and loans, including held for sale | (1,998) | (1,059) | (3,592) [1] |
| Increase in interest bearing restricted cash to affiliates | (100) | 0 | 0 |
| Net (increase) decrease in loans to affiliates and other | (1,245) | 2,973 | 152 |
| Net (decrease) increase in due to/from affiliates | (1,718) | (515) | 2,605 |
| Net cash (used in) provided by investing activities | (5,061) | 1,399 | (835) |
| Cash Flows from Financing Activities | |||
| Net (decrease) increase in short-term debt | (1,685) | 873 | 1,351 |
| Net increase (decrease) in short-term debt to affiliates | 1,414 | (861) | 1,112 |
| Proceeds from long-term debt | 8,438 | 3,791 | 6,522 |
| Principal payments of long-term debt | (4,900) | (4,961) | (8,545) |
| Proceeds from long-term debt to affiliates | 270 | 0 | 0 |
| Dividends paid | 0 | 0 | (115) |
| Net cash provided by (used in) financing activities | 3,537 | (1,158) | 325 |
| Effect of foreign currency exchange rates on cash and cash equivalents | 75 | (24) | (4) |
| Net (decrease) increase in cash and cash equivalents | (1,015) | 1,038 | 99 |
| Cash and cash equivalents at beginning of year | 1,211 | 173 | |
| Cash and cash equivalents at end of year | 196 | 1,211 | 173 |
| [1] Refer to Note 1 for additional information | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN EXPRESS CO | ||
Ticker: AXP Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Superseded Filed: Mar 1, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Cash and cash equivalents | $ 196 | 1,211 |
| Card Member receivables, less reserves | 20,131 | 18,108 |
| Card Member loans, less reserves | 556 | 471 |
| Loans to affiliates and other | 14,527 | 10,659 |
| Due from affiliates | 189 | 997 |
| Other assets | 290 | 490 |
| Total assets | 35,889 | 31,936 |
| Liabilities and Shareholder's Equity | ||
| Liabilities | ||
| Short-term debt | 1,308 | 2,993 |
| Short-term debt to affiliates | 5,997 | 4,559 |
| Long-term debt | 24,153 | 20,512 |
| Long-term debt to affiliates | 270 | 0 |
| Total debt | 31,728 | 28,064 |
| Due to affiliates | 1,988 | 1,517 |
| Accrued interest and other liabilities | 302 | 146 |
| Total liabilities | 34,018 | 29,727 |
| 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 | 2,708 | 3,311 |
| Accumulated other comprehensive loss: | ||
| Foreign currency translation adjustments, net of tax | (998) | (1,263) |
| Total accumulated other comprehensive loss | (998) | (1,263) |
| Total shareholder's equity | 1,871 | 2,209 |
| Total liabilities and shareholder's equity | 35,889 | 31,936 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2017 | |||
Consolidated Statements of Operations and Comprehensive Loss | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 28, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenue | $ 3,906 | 570 | 293 |
| Cost of goods sold | 9,190 | 4,543 | 1,906 |
| Gross loss | (5,284) | (3,973) | (1,613) |
| Operating expenses: | |||
| Research and development | 8,726 | 7,164 | 4,827 |
| Selling, general and administrative | 14,393 | 7,986 | 4,640 |
| Total operating expenses | 23,119 | 15,150 | 9,467 |
| Operating loss | (28,403) | (19,123) | (11,080) |
| Other expense (income): | |||
| Interest expense | 796 | 249 | 422 |
| Other expense (income), net | (217) | 50 | (341) |
| Total other expense (income), net | 579 | 299 | 81 |
| Operating loss before income tax provision | (28,982) | (19,422) | (11,161) |
| Provision for income taxes | 1 | 1 | |
| Net loss | (28,983) | (19,423) | (11,161) |
| Net loss per Class A common share: basic and diluted (in dollars per share) | (0.3100) | (0.2600) | (0.3200) |
| Weighted average number of Class A common shares used in computing net loss per Class A common share: basic and diluted (in shares) | 93,544,173 | 74,793,530 | 35,377,588 |
| Comprehensive loss: | |||
| Net Loss | (28,983) | (19,423) | (11,161) |
| Unrealized gain on investments | 6 | ||
| Total comprehensive loss | (28,977) | (19,423) | (11,161) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 28, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash flows from operating activities | |||
| Net loss | $ (28,983) | (19,423) | (11,161) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 667 | 237 | 86 |
| Amortization of debt discount and deferred issuance cost | 211 | 111 | 37 |
| Loss of disposal of assets | 14 | ||
| Interest on convertible bridge notes payable converted to common stock | 70 | ||
| Changes in fair value of warrant liabilities | (42) | ||
| Inventory write-down | 2,990 | 1,537 | 527 |
| Stock-based compensation | 707 | 377 | 111 |
| Sales returns reserve | 179 | ||
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (1,083) | (41) | (77) |
| Inventory | (9,383) | (2,423) | (883) |
| Prepaid expenses and other assets | (499) | (390) | (175) |
| Accounts payable | 1,460 | 325 | 473 |
| Accrued expenses | 1,279 | 522 | 199 |
| Net cash used in operating activities | (32,455) | (19,154) | (10,835) |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (2,587) | (1,151) | (840) |
| Maturities of short-term investments | 13,564 | ||
| Purchases of short-term investments | (31,992) | ||
| Net cash used in investing activities | (21,015) | (1,151) | (840) |
| Cash flows from financing activities | |||
| Proceeds from debt issuance, net of issuance costs | 14,717 | ||
| Proceeds from convertible bridge notes payable | 4,960 | ||
| Principal payments on notes payable | (1,272) | (1,500) | (953) |
| Proceeds from issuance of common stock, net of issuance costs | 32,649 | 14,159 | 25,080 |
| Proceeds from exercise of stock options | 61 | 10 | 1 |
| Proceeds from exercise of warrants for common stock | 49 | ||
| Net cash provided by financing activities | 46,155 | 12,669 | 29,137 |
| Net (decrease) increase in cash and cash equivalents | (7,315) | (7,636) | 17,462 |
| Cash and cash equivalents -- beginning of period | 11,477 | 19,113 | |
| Cash and cash equivalents -- end of period | 4,162 | 11,477 | 19,113 |
| Supplemental disclosure: | |||
| Cash paid for interest | 445 | 138 | 240 |
| Cash paid for taxes | 1 | 1 | 1 |
| Supplemental schedule of noncash investing and financing activities: | |||
| Conversion of preferred stock to common stock in connection with initial public offering (IPO) | 34,633 | ||
| Conversion of convertible bridge notes payable and accrued interest to common stock in connection with IPO | 5,030 | ||
| Conversion of warrant liabilities to equity | 123 | ||
| Class of Warrant or Right | |||
| Warrants to Purchase Class A Common Stock | |||
| Issuance of warrant for 277,778 shares of Class A Common Stock in connection with debt | 277 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN EXPRESS CO | ||
Ticker: AXP Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 28, 2018) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| ASSETS | ||
| Cash and cash equivalents | $ 4,162 | 11,477 |
| Short-term investments | 18,428 | |
| Accounts receivable, net | 1,022 | 118 |
| Inventory | 8,132 | 1,413 |
| Prepaid expenses and other current assets | 1,018 | 558 |
| Total current assets | 32,762 | 13,566 |
| Property and equipment | 4,435 | 1,879 |
| Other assets | 129 | 84 |
| Total assets | 37,326 | 15,529 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current portion of long-term debt, net of discount | 1,195 | |
| Accounts payable | 3,345 | 1,249 |
| Accrued expenses | 2,521 | 916 |
| Total current liabilities | 5,866 | 3,360 |
| Long-term debt, less current portion, net of discount | 14,624 | |
| Total liabilities | 20,490 | 3,360 |
| Commitments and Contingencies (Note 8) | ||
| Stockholders' equity | ||
| Preferred stock, $0.001 par value; 10,000,000 authorized; no shares issued and outstanding at December 31, 2017 and 2016 | 0 | 0 |
| Additional paid-in capital | 112,045 | 78,418 |
| Accumulated other comprehensive income | 6 | |
| Accumulated deficit | (95,311) | (66,328) |
| Total stockholders' equity | 16,836 | 12,169 |
| Total liabilities and stockholders' equity | 37,326 | 15,529 |
| Class of Stock | ||
| Common Class A | ||
| Common stock | 96 | 79 |
| Common Class B | ||
| Common stock | 0 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2017 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenues | |||
| Non-interest revenues | |||
| Discount revenue | $ 19,186 | 18,680 | 19,297 |
| Net card fees | 3,090 | 2,886 | 2,700 |
| Other fees and commissions | 3,022 | 2,753 | 2,866 |
| Other | 1,732 | 2,029 | 2,033 |
| Total non-interest revenues | 27,030 | 26,348 | 26,896 |
| Interest income | |||
| Interest on loans | 8,138 | 7,205 | 7,309 |
| Interest and dividends on investment securities | 89 | 131 | 157 |
| Deposits with banks and other | 326 | 139 | 79 |
| Total interest income | 8,553 | 7,475 | 7,545 |
| Interest expense | |||
| Deposits | 779 | 598 | 475 |
| Long-term debt and other | 1,333 | 1,106 | 1,148 |
| Total interest expense | 2,112 | 1,704 | 1,623 |
| Net interest income | 6,441 | 5,771 | 5,922 |
| Total revenues net of interest expense | 33,471 | 32,119 | 32,818 |
| Provisions for losses | |||
| Charge Card | 795 | 696 | 737 |
| Card member loans | 1,868 | 1,235 | 1,190 |
| Other | 96 | 95 | 61 |
| Total provisions for losses | 2,759 | 2,026 | 1,988 |
| Total revenues net of interest expense after provisions for losses | 30,712 | 30,093 | 30,830 |
| Expenses | |||
| Marketing and promotion | 3,217 | 3,650 | 3,109 |
| Card Member rewards | 7,608 | 6,793 | 6,996 |
| Card Member services and other | 1,439 | 1,133 | 1,018 |
| Salaries and employee benefits | 5,258 | 5,259 | 4,976 |
| Other,net | 5,776 | 5,162 | 6,793 |
| Total Expenses | 23,298 | 21,997 | 22,892 |
| Pretax income | 7,414 | 8,096 | 7,938 |
| Income tax provision | 4,678 | 2,688 | 2,775 |
| Net income | 2,736 | 5,408 | 5,163 |
| Earnings per Common Share | |||
| Basic | 2.98 [1] | 5.67 | 5.07 |
| Diluted | 2.97 | 5.65 | 5.05 |
| Average common shares outstanding for earnings per common share: | |||
| Basic | 883 | 933 | 999 |
| Diluted | 886 | 935 | 1,003 |
| [1] Represents net income less (i) earnings allocated to participating share awards of $ 21 million, $ 43 million and $ 38 million for the years ended December 31, 2017 , 2016 and 2015 , respectively, and (ii) dividends on preferred shares of $ 81 million, $ 80 million and $ 62 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2017 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net income | $ 2,736 | 5,408 | 5,163 |
| Other comprehensive income (loss) | |||
| Net unrealized securities losses, net of tax | (7) | (51) | (38) |
| Foreign currency translation adjustments, net of tax | 301 | (218) | (545) |
| Net unrealized pension and other postretirement benefit, net of tax | 62 | 19 | (32) |
| Other comprehensive gain (loss) | 356 | (250) | (615) |
| Comprehensive income | 3,092 | 5,158 | 4,548 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 2,736 | 5,408 | 5,163 |
| Adjustments to reconcile income from continuing operations to net cash provided by operating activities: | |||
| Provisions for losses | 2,759 | 2,026 | 1,988 |
| Depreciation and amortization | 1,321 | 1,095 | 1,043 |
| Deferred taxes and other | 783 | (1,132) | 507 |
| Stock-based compensation | 282 | 254 | 234 |
| Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||
| Other receivables | 473 | (281) | (714) |
| Other assets | (62) | 192 | 2,058 |
| Accounts payable and other liabilities | 5,505 | 1,139 | 794 |
| Travelers Cheques and other prepaid products | (257) | (410) | (367) |
| Net cash provided by operating activities | 13,540 | 8,291 | 10,706 |
| Cash Flows from Investing Activities | |||
| Sales of available-for-sale investment securities | 2 | 88 | 12 |
| Maturities and redemptions of available-for-sale investment securities | 2,494 | 2,429 | 2,091 |
| Sales of other investments | 0 | 10 | 0 |
| Purchase of investments | (2,612) | (2,162) | (1,713) |
| Net increase in Card Member receivables and loans, including held for sale | (16,853) | 3,220 | (6,967) |
| Purchase of premises and equipment | (1,062) | (1,375) | (1,341) |
| Acquisitions/dispositions, net of cash acquired | (211) | (487) | (155) |
| Net (increase) decrease in restricted cash | (31) | 145 | (120) |
| Net cash (used in) provided by investing activities | (18,273) | 1,868 | (8,193) |
| Cash Flows from Financing Activities | |||
| Net increase (decrease) in customer deposits | 11,385 | (1,935) | 10,878 |
| Net (decrease) increase in short-term borrowings | (2,300) | 888 | 1,395 |
| Issuance of long-term debt | 32,764 | 8,824 | 9,923 |
| Principal payments on long term debt | (24,082) | (9,848) | (19,246) |
| Issuance of American Express preferred shares | 0 | 0 | 841 |
| Issuance of American Express common shares | 129 | 177 | 193 |
| Repurchase of American Express common shares | (4,300) | (4,400) | (4,500) |
| Dividends paid | (1,251) | (1,207) | (1,172) |
| Net cash provided by (used in) financing activities | 12,245 | (7,599) | (1,763) |
| Effect of foreign currency exchange rates on cash and cash equivalents | 207 | (114) | (276) |
| Net increase in cash and cash equivalents | 7,719 | 2,446 | 474 |
| Cash and cash equivalents at beginning of year | 25,208 | 22,762 | |
| Cash and cash equivalents at end of year | 32,927 | 25,208 | 22,762 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN EXPRESS CO | ||
Ticker: AXP Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 16, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Cash and cash equivalents | ||
| Cash and cash due from banks | $ 5,148 | 3,278 |
| Interest-bearing deposits in other banks | 27,709 | 20,779 |
| Short-term investment securities | 70 | 1,151 |
| Total cash and cash equivalents | 32,927 | 25,208 |
| Accounts receivable | ||
| Card Member receivables | 53,526 | 46,841 |
| Other receivables | 3,163 | 3,232 |
| Loans | ||
| Card Member loans | 71,693 | 64,042 |
| Other loans, net | 2,607 | 1,419 |
| Investment securities | 3,159 | 3,157 |
| Premises and equipment | 4,329 | 4,433 |
| Other assets | 9,755 | 10,561 |
| Total assets | 181,159 | 158,893 |
| Liabilities and Shareholders' Equity | ||
| Liabilities | ||
| Customer deposits | 64,452 | 53,042 |
| Travelers Cheques and other prepaid products | 2,593 | 2,812 |
| Accounts payable | 14,657 | 11,190 |
| Short-term borrowings | 3,278 | 5,581 |
| Long-term debt | 55,804 | 46,990 |
| Other liabilities | 22,148 | 18,777 |
| Total liabilities | 162,932 | 138,392 |
| Shareholders' Equity | ||
| Preferred shares issued | 0 | 0 |
| Common shares | 172 | 181 |
| Additional paid-in capital | 12,210 | 12,733 |
| Retained earnings | 8,273 | 10,371 |
| Accumulated other comprehensive income (loss) | ||
| Net unrealized derivatives losses, net of tax | 0 | 7 |
| Foreign currency translation adjustments, net of tax | (1,961) | (2,262) |
| Net unrealized pension and other postretirement benefit losses, net of tax | (467) | (529) |
| Total accumulated other comprehensive loss | (2,428) | (2,784) |
| Total shareholders' equity | 18,227 | 20,501 |
| Total liabilities and shareholders' equity | 181,159 | 158,893 |
| External Links | |
| AMERICAN EXPRESS CO (AXP) Fiscal Year 2017 | |
| 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 |