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: 2021 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenues | |||
| Non-interest revenues | |||
| Total non-interest revenues | $ 34,630 | 28,102 | 34,936 |
| Interest income | |||
| Interest on loans | 8,850 | 9,779 | 11,308 |
| Interest and dividends on investment securities | 83 | 127 | 188 |
| Deposits with banks and other | 100 | 177 | 588 |
| Total interest income | 9,033 | 10,083 | 12,084 |
| Interest expense | |||
| Deposits | 458 | 943 | 1,559 |
| Long-term debt and other | 825 | 1,155 | 1,905 |
| Total interest expense | 1,283 | 2,098 | 3,464 |
| Net interest income | 7,750 | 7,985 | 8,620 |
| Total revenues net of interest expense | 42,380 | 36,087 | 43,556 |
| Provisions for credit losses | |||
| Provisions for credit losses | (1,419) | 4,730 | 3,573 |
| Total revenues net of interest expense after provisions for credit losses | 43,799 | 31,357 | 39,983 |
| Expenses | |||
| Marketing and business development | 9,053 | 6,747 | 7,125 |
| Card Member rewards | 11,007 | 8,041 | 10,439 |
| Card Member services | 1,993 | 1,230 | 2,223 |
| Salaries and employee benefits | 6,240 | 5,718 | 5,911 |
| Other, net | 4,817 | 5,325 | 5,856 |
| Total expenses | 33,110 | 27,061 | 31,554 |
| Pretax income | 10,689 | 4,296 | 8,429 |
| Income tax provision | 2,629 | 1,161 | 1,670 |
| Net income | 8,060 | 3,135 | 6,759 |
| Earnings per Common Share | |||
| Basic (in dollars per share) | 10.04 | 3.77 [1] | 8.00 |
| Diluted (in dollars per share) | 10.02 | 3.77 | 7.99 |
| Average common shares outstanding for earnings per common share: | |||
| Basic (in shares) | 789 | 805 | 828 |
| Diluted (in shares) | 790 | 806 | 830 |
| Product and Service | |||
| Discount revenue | |||
| Total non-interest revenues | 25,727 | 20,401 | 26,167 |
| Net card fees | |||
| Total non-interest revenues | 5,195 | 4,664 | 4,042 |
| Other fees and commissions | |||
| Total non-interest revenues | 2,392 | 2,163 | 3,297 |
| Other | |||
| Total non-interest revenues | 1,316 | 874 | 1,430 |
| Class of Financing Receivable, Type | |||
| Card Member receivables | |||
| Provisions for credit losses | (73) | 1,015 | 963 |
| Card Member loans | |||
| Provisions for credit losses | (1,155) | 3,453 | 2,462 |
| Other | |||
| Provisions for credit losses | (191) | 262 | 148 |
| [1] Represents net income less (i) earnings allocated to participating share awards of $56 million, $20 million and $47 million for the years ended December 31, 2021, 2020 and 2019, respectively, (ii) dividends on preferred shares of $71 million, $79 million and $81 million for the years ended December 31, 2021, 2020 and 2019, respectively, and (iii) equity-related adjustments of $16 million related to the redemption of preferred shares for the year ended December 31, 2021. | |||
| External Links | |
| AMERICAN EXPRESS CO (AXP) Fiscal Year 2021 | |
| 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 |