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: 2010 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Revenues | |||
| Non-interest revenues | |||
| Discount revenue | $ 15,111 | 13,389 | 15,025 |
| Net card fees | 2,102 | 2,151 | 2,150 |
| Travel commissions and fees | 1,779 | 1,594 | 2,010 |
| Other commissions and fees | 2,031 | 1,778 | 2,307 |
| Securitization income, net | 0 | 400 | 1,070 |
| Other | 1,927 | 2,087 | 2,157 |
| Total non-interest revenues | 22,950 | 21,399 | 24,719 |
| Interest income | |||
| Interest and fees on loans | 6,783 | 4,468 | 6,159 |
| Interest and dividends on investment securities | 443 | 804 | 771 |
| Deposits with banks and other | 66 | 59 | 271 |
| Total interest income | 7,292 | 5,331 | 7,201 |
| Interest expense | |||
| Deposits | 546 | 425 | 454 |
| Short-term borrowings | 3 | 37 | 483 |
| Long-term debt and other | 1,874 | 1,745 | 2,618 |
| Total interest expense | 2,423 | 2,207 | 3,555 |
| Net interest income | 4,869 | 3,124 | 3,646 |
| Total revenues net of interest expense | 27,819 | 24,523 | 28,365 |
| Provisions for losses | |||
| Charge card | 595 | 857 | 1,363 |
| Cardmember loans | 1,527 | 4,266 | 4,231 |
| Other | 85 | 190 | 204 |
| Total provisions for losses | 2,207 | 5,313 | 5,798 |
| Total revenues net of interest expense after provisions for losses | 25,612 | 19,210 | 22,567 |
| Expenses | |||
| Marketing, promotion, rewards and cardmember services | 8,644 | 6,467 | 7,361 |
| Salaries and employee benefits | 5,566 | 5,080 | 6,090 |
| Professional services | 2,806 | 2,408 | 2,413 |
| Other | 2,632 | 2,414 | 3,122 |
| Total | 19,648 | 16,369 | 18,986 |
| Pretax income (loss) from continuing operations | 5,964 | 2,841 | 3,581 [1] |
| Income tax provision | 1,907 | 704 | 710 |
| Income from continuing operations | 4,057 | 2,137 | 2,871 |
| Loss from discontinued operations, net of tax | 0 | (7) | (172) |
| Net income | 4,057 | 2,130 | 2,699 |
| Earnings per Common Share - Basic: (Note 18) | |||
| Income from continuing operations attributable to common shareholders | 3.37 | 1.55 | 2.47 |
| Loss from discontinued operations | 0.00 | (0.01) | (0.14) |
| Net income attributable to common shareholders | 3.37 | 1.54 | 2.33 |
| Earnings per Common Share - Diluted: (Note 18) | |||
| Income from continuing operations attributable to common shareholders | 3.35 | 1.54 | 2.47 |
| Loss from discontinued operations, net of tax | 0.00 | 0.00 | (0.15) |
| Net income attributable to common shareholders | 3.35 | 1.54 | 2.32 |
| Average common shares outstanding for earnings per common share: | |||
| Basic | 1,188 | 1,168 | 1,154 |
| Diluted | 1,195 | 1,171 | 1,156 |
| [1] The data in the above table is, in part, based upon internal allocations, which necessarily involve management's judgment. Certain revisions and reclassifications have been made to 2009 and 2008 to conform to 2010 classifications and internal allocation methodology. | |||
| External Links | |
| AMERICAN EXPRESS CO (AXP) Fiscal Year 2010 | |
| 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 |