American Express 2001 Annual Report Download - page 53

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axp_51
CONSOLIDATED FINANCIAL STATEMENTS
Consolidated Statements of Shareholders’ Equity
AMERICAN EXPRESS COMPANY
Accumulated
Other
Common Capital Comprehensive Retained
Three Years Ended December 31, 2001 (Millions) Total Shares Surplus Income/(Loss) Earnings
Balances at December 31, 1998 $ 9,698 $ 270 $ 4,809 $ 471 $ 4,148
Comprehensive income:
Net income 2,475 2,475
Change in net unrealized securities gains (879) (879)
Foreign currency translation adjustments 66
Total comprehensive income 1,602
Repurchase of common shares (1,170) (5) (98) (1,067)
Other changes, primarily employee plans 369 3 485 (119)
Cash dividends declared:
Common, $.30 per share (404) (404)
Balances at December 31, 1999 10,095 268 5,196 (402) 5,033
Comprehensive income:
Net income 2,810 2,810
Change in net unrealized securities gains 151 151
Foreign currency translation adjustments 33 33
Total comprehensive income 2,994
Repurchase of common shares (1,327) (5) (228) (1,094)
Other changes, primarily employee plans 348 2 471 (125)
Cash dividends declared:
Common, $.32 per share (426) (426)
Balances at December 31, 2000 11,684 265 5,439 (218) 6,198
Comprehensive income:
Net income 1,311 1,311
Change in net unrealized securities gains 479 479
Cumulative effect of adopting SFAS No. 133 (120) (120)
Change in net unrealized derivatives losses (605) (605)
Derivatives losses reclassified to earnings 429 429
Foreign currency translation adjustments (39) (39)
Minimum pension liability adjustment (103) (103)
Total comprehensive income 1,352
Repurchase of common shares (626) (2) (53) (571)
Other changes, primarily employee plans 51 3 141 (93)
Cash dividends declared:
Common, $.32 per share (424) (424)
Balances at December 31, 2001 $ 12,037 $ 266 $ 5,527 $ (177) $ 6,421
See notes to consolidated financial statements.