American Express 2001 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2001 American Express annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 84

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84

axp_49
CONSOLIDATED FINANCIAL STATEMENTS
Consolidated Balance Sheets
AMERICAN EXPRESS COMPANY
December 31, (Millions, except share data) 2001 2000
Assets
Cash and cash equivalents $ 7,222 $ 8,487
Accounts receivable and accrued interest:
Cardmember receivables, less credit reserves: 2001, $1,032; 2000, $809 25,212 25,067
Other receivables, less credit reserves: 2001, $134; 2000, $123 4,286 5,476
Investments 46,488 43,747
Loans:
Cardmember lending, less credit reserves: 2001, $831; 2000, $650 20,131 19,855
International banking, less credit reserves: 2001, $130; 2000, $137 5,155 5,207
Other, net 1,154 1,026
Separate account assets 27,334 32,349
Deferred acquisition costs 3,737 3,574
Land, buildings and equipment
—
at cost, less accumulated depreciation:
2001, $2,507; 2000, $2,219 2,811 2,506
Other assets 7,570 7,129
Total assets $ 151,100 $ 154,423
Liabilities and Shareholders’ Equity
Customers’ deposits $ 14,557 $ 13,870
Travelers Cheques outstanding 6,190 6,127
Accounts payable 6,820 7,495
Insurance and annuity reserves:
Fixed annuities 19,592 19,417
Life and disability policies 4,944 4,681
Investment certificate reserves 8,227 7,348
Short-term debt 31,569 36,030
Long-term debt 7,788 4,711
Separate account liabilities 27,334 32,349
Other liabilities 11,542 10,211
Total liabilities 138,563 142,239
Guaranteed preferred beneficial interests in the company’s
junior subordinated deferrable interest debentures 500 500
Shareholders’ Equity
Common shares, $.20 par value, authorized 3.6 billion shares; issued and
outstanding 1,331 million shares in 2001 and 1,326 million shares in 2000 266 265
Capital surplus 5,527 5,439
Retained earnings 6,421 6,198
Other comprehensive loss, net of tax:
Net unrealized securities gains (losses) 334 (145)
Net unrealized derivatives losses (296)
—
Foreign currency translation adjustments (112) (73)
Minimum pension liability (103)
—
Accumulated other comprehensive loss (177) (218)
Total shareholders’ equity 12,037 11,684
Total liabilities and shareholders’ equity $ 151,100 $ 154,423
See notes to consolidated financial statements.