American Express 2001 Annual Report Download - page 41
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axp_39
FINANCIAL REVIEW
Year Ended December 31, (Millions) 2000
Managed Basis Securitization Effect GAAP Basis
Net revenues:
Net card fees $ 1,653 $ (2) $ 1,651
Lending net finance charge revenue 2,383 (1,396) 987
Other revenues 3,418 1,077 4,495
Total net revenues 17,441 (321) 17,120
Expenses:
Marketing and promotion 1,348 86 1,434
Provision for losses and claims:
Charge card 1,157 (151) 1,006
Lending 1,486 (595) 891
Charge card interest expense 1,408 (206) 1,202
Net discount expense
—
489 489
Other operating expenses 5,098 56 5,154
Total expenses 14,728 (321) 14,407
Pretax income $ 2,713 $
—
$ 2,713
Year Ended December 31, (Millions) 1999
Managed Basis Securitization Effect GAAP Basis
Net revenues:
Net card fees $ 1,604 $ (5) $ 1,599
Lending net finance charge revenue 1,929 (596) 1,333
Other revenues 2,813 497 3,310
Total net revenues 15,234 (104) 15,130
Expenses:
Marketing and promotion 1,247 91 1,338
Provision for losses and claims:
Charge card 995 (130) 865
Lending 1,186 (387) 799
Charge card interest expense 1,055 (220) 835
Net discount expense
—
479 479
Other operating expenses 4,352 63 4,415
Total expenses 12,851 (104) 12,747
Pretax income $ 2,383 $
—
$ 2,383