American Express 2001 Annual Report Download - page 77

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axp_75
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
axp_75
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Note 20 ❚QUARTERLY FINANCIAL DATA (Unaudited)
(Millions, except per share amounts) 2001 2000
Quarters Ended 12/31 9/30 6/30 3/31 12/31 9/30 6/30 3/31
Net revenues (managed basis) $ 5,590 $ 5,478 $ 4,910 $ 5,381 $ 5,714 $ 5,554 $ 5,558 $ 5,259
Revenues (GAAP basis) 5,871 5,724 5,268 5,719 6,067 5,981 5,970 5,657
Pretax income 347 354 153 741 913 1,029 1,046 920
Net income(a) 297 298 178 538 677 737 740 656
Earnings per common share:(a)
Basic 0.22 0.23 0.13 0.41 0.51 0.56 0.56 0.49
Diluted 0.22 0.22 0.13 0.40 0.50 0.54 0.54 0.48
Cash dividends declared per
common share .08 .08 .08 .08 .08 .08 .08 .08
Common share price:
High 36.34 41.92 46.55 57.06 63.00 62.25 57.19 56.50
Low 26.69 24.20 35.96 34.00 50.06 50.69 43.94 39.83
(a)2001 results include three significant items: (1) charges of $826 million pretax ($537 million after-tax) and $182 million pretax ($132 million after-tax) in the second and first quarters,
respectively, reflecting losses associated with high-yield securities; (2) restructuring charges of $279 million pretax ($179 million after-tax) and $352 million pretax ($232 million after-
tax) in the fourth and third quarters, respectively; and (3) the one-time adverse impact from the September 11th terrorist attacks of $98 million pretax ($65 million after-tax) in the
third quarter.