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: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 27, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Cash Flows from Operating Activities | |||
| Net income (loss) | $ 418 | 387 | (603) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Provisions for losses | 230 | 249 | 244 |
| Amortization of underwriting expense | 19 | 25 | 28 |
| Deferred taxes | 13 | (35) | 55 |
| Changes in operating assets and liabilities: | |||
| Interest, taxes and other amounts due to/from affiliates | (247) | (90) | 1,088 |
| Other operating assets and liabilities | 344 | 405 | (378) |
| Net cash provided by operating activities | 777 | 941 | 434 |
| Cash Flows from Investing Activities | |||
| Net increase in Card Member receivables and Card Member loans | (1,226) | (4,984) | (1,998) |
| Net increase in loans to affiliates and other | (1,128) | (67) | (1,245) |
| Net (decrease) increase in due to/from affiliates | (924) | 978 | (1,718) |
| Net cash used in investing activities | (3,278) | (4,073) | (4,961) |
| Cash Flows from Financing Activities | |||
| Net increase (decrease) in short-term debt | 2,390 | (482) | (1,685) |
| Net increase (decrease) in short-term debt to affiliates | 327 | (97) | 1,414 |
| Proceeds from long-term debt | 0 | 0 | 8,438 |
| Principal payments of long-term debt | (7,152) | (3,647) [1] | (4,900) |
| Proceeds from long-term debt to affiliates | 33,559 | 11,812 | 270 |
| Principal payments of long-term debt to affiliates | (26,674) | (4,546) | 0 [2] |
| Net cash provided by financing activities | 2,450 | 3,040 | 3,537 |
| Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash | 5 | (9) | 75 |
| Net decrease in cash, cash equivalents and restricted cash | (46) | (101) | (915) |
| Cash, cash equivalents and restricted cash at beginning of period | 195 | 296 | |
| Cash, cash equivalents and restricted cash at end of period | 149 | 195 | 296 |
| [1] Includes $2 million paid during the fourth quarter of 2019 towards the renewal of Credco's existing U.S. dollar-denominated committed bank credit facility. | |||
| [2] As a result of funding structure changes in the ordinary course of business, Credco terminated the intercompany loan agreement with American Express Limited and American Express International, Inc. and settled the related borrowings from American Express Company during the second quarter of 2019. | Pursuant to the revision of the master note arrangement with American Express Company during the fourth quarter of 2018, Credco has changed the classification of the net borrowings from short-term debt to affilia | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN EXPRESS CO | |||
Ticker: AXP Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 13, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 6,759 | 6,921 | 2,748 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provisions for losses | 3,573 | 3,352 | 2,760 |
| Depreciation and amortization | 1,188 | 1,293 | 1,321 |
| Deferred taxes and other | 426 | 455 | 782 |
| Stock-based compensation | 283 | 283 | 282 |
| Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||
| Other assets | (368) | 991 | 398 |
| Accounts payable & other liabilities | 1,771 | (4,365) | 5,249 |
| Net cash provided by operating activities | 13,632 | 8,930 | 13,540 |
| Cash Flows from Investing Activities | |||
| Sale of available-for-sale investment securities | 22 | 4 | |
| Sale of available-for-sale investment securities | 2 | ||
| Maturities and redemptions of investment securities | 7,329 | 3,499 | 2,494 |
| Purchase of investments | (11,166) | (5,434) | (2,612) |
| Net increase in Card Member loans and receivables, and other loans | (11,047) | (15,854) | (16,853) |
| Purchase of premises and equipment | (1,645) | (1,310) | (1,062) |
| Acquisitions/dispositions, net of cash acquired | (352) | (520) | (211) |
| Other investing activities | 152 | 0 | 0 |
| Net cash used in investing activities | (16,707) | (19,615) | (18,242) |
| Cash Flows from Financing Activities | |||
| Net increase in customer deposits | 3,330 | 5,542 | 11,385 |
| Net increase (decrease) in short-term borrowings | 3,316 | (148) | (2,300) |
| Proceeds from long-term debt | 12,706 | 21,524 | 32,764 |
| Payments of long-term debt | (13,850) | (18,895) | (24,082) |
| Issuance of American Express common shares | 86 | 87 | 129 |
| Repurchase of American Express common shares and other | (4,685) | (1,685) | (4,400) |
| Dividends paid | (1,422) | (1,324) | (1,251) |
| Net cash (used in) provided by financing activities | (519) | 5,101 | 12,245 |
| Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash | 232 | 129 | 226 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (3,362) | (5,455) | 7,769 |
| Cash. cash equivalents and restricted cash at beginning of year | 27,808 | 33,263 | |
| Cash, cash equivalents and restricted cash at end of year | 24,446 | 27,808 | 33,263 |
| External Links | |
| AMERICAN EXPRESS CO (AXP) Fiscal Year 2019 | |
| 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 |