American Express 2002 Annual Report Download - page 4

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CONSOLIDATED HIGHLIGHTS
American Express Company
Percent Increase
(Millions, except per share amounts) 20 02 2001 (Decrease)
Revenues $ 23,807 $ 22,582 5%
Net income(a) $ 2,671 $ 1,311 ‡
Diluted earnings per common share(a) $ 2.01 $ 0.98 ‡
Cash dividends declared per common share $ 0.32 $ 0.32 —
Book value per common share(b) $ 10.19 $ 9.02 13%
Average common shares outstanding for diluted
earnings per common share 1,330 1,336 —
Total assets $ 157,253 $ 151,100 4%
Shareholders’ equity $ 13,861 $ 12,037 15%
Common share cash dividends declared $ 425 $ 424 —
Common share repurchases $ 1,153 $ 626 84%
Return on average shareholders’ equity(a)(b) 20.6% 10.9% —
Number of employees 75,459 84,417 (11%)
(a) Results for 2001 include three significant items: (1) a charge of $1.01 billion ($669 million after-tax) reflecting losses associated with high-yield securities
recorded during the first half of 2001; (2) restructuring charges of $631 million ($411 million after-tax); and (3) the one-time adverse impact from the September
11th terrorist attacks of $98 million ($65 million after-tax).
(b) Excludes the effect on Shareholders’ Equity of unrealized gains or losses related to SFAS No. 115, “Accounting for Certain Investments in Debt and Equity Securities,”
and SFAS No. 133, “Accounting for Derivative Financial Instruments and Hedging Activities.”
‡— Denotes a variance greater than 100%.