American Express 1998 Annual Report Download - page 37

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35
Accumulated
Other
Preferred Common Capital Comprehensive Retained
Three Years Ended December 31, 1998 (millions) Total Shares Shares Surplus Income Earnings
Balances at December 31, 1995 $ 8,220 $ 200 $ 290 $ 3,781 $ 790 $ 3,159
Comprehensive income:
Net income 1,901 1,901
Change in net unrealized securities
gains (489) (489)
Foreign currency translation adjustments (4) (4)
Total comprehensive income 1,408
Repurchase of common shares (1,041) (13) (177) (851)
Net put options activity 124 124
Conversion of preferred shares into
common — (200) 3 197
Other changes, primarily employee plans 252 4 266 (18)
Cash dividends declared:
Preferred (6) (6)
Common, $.90 per share (429) (429)
Balances at December 31, 1996 8,528 — 284 4,191 297 3,756
Comprehensive income:
Net income 1,991 1,991
Change in net unrealized securities
gains 193 193
Foreign currency translation adjustments (8) (8)
Total comprehensive income 2,176
Repurchase of common shares (1,259) (10) (153) (1,096)
Exchange of Lehman Brothers Holdings, Inc.
preferred shares for American Express
common shares 337 3 334
Other changes, primarily employee plans 213 3 252 (42)
Cash dividends declared:
Common, $.90 per share (421) (421)
Balances at December 31, 1997 9,574 — 280 4,624 482 4,188
Comprehensive income:
Net income 2,141 2,141
Change in net unrealized securities
gains 44
Foreign currency translation adjustments (15) (15)
Total comprehensive income 2,130
Repurchase of common shares (1,890) (12) (196) (1,682)
Other changes, primarily employee plans 294 2 381 (89)
Cash dividends declared:
Common, $.90 per share (410) (410)
Balances at December 31, 1998 $ 9,698 $ — $ 270 $ 4,809 $ 471 $ 4,148
See notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
AMERICAN EXPRESS COMPANY