American Express 2002 Annual Report Download - page 57

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I55 AXP ICONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS
American Express Company
December 31, (Millions, except share data) 2002 2001
Assets
Cash and cash equivalents $ 10,288 $ 7,222
Accounts receivable and accrued interest:
Cardmember receivables, less credit reserves: 2002, $930; 2001, $1,032 25,403 25,212
Other receivables, less credit reserves: 2002, $28; 2001, $134 3,684 4,286
Investments 53,638 46,488
Loans:
Cardmember lending, less credit reserves: 2002, $1,030; 2001, $831 21,574 20,131
International banking, less credit reserves: 2002, $151; 2001, $130 5,466 5,155
Other, net 782 1,154
Separate account assets 21,981 27,334
Deferred acquisition costs 3,908 3,737
Land, buildings and equipment —at cost, less accumulated depreciation:
2002, $2,603; 2001, $2,507 2,979 2,811
Other assets 7,550 7,570
Total assets $ 157,253 $ 151,100
Liabilities and Shareholders’ Equity
Customers’ deposits $ 18,317 $ 14,557
Travelers Cheques outstanding 6,623 6,190
Accounts payable 9,235 6,820
Insurance and annuity reserves:
Fixed annuities 23,411 19,592
Life and disability policies 5,272 4,944
Investment certificate reserves 8,666 8,227
Short-term debt 21,103 31,569
Long-term debt 16,308 7,788
Separate account liabilities 21,981 27,334
Guaranteed preferred beneficial interests in the company’s
junior subordinated deferrable interest debentures 511 500
Other liabilities 11,965 11,542
Total liabilities 143,392 139,063
Shareholders’ Equity
Common shares, $.20 par value, authorized 3.6 billion shares; issued and
outstanding 1,305 million shares in 2002 and 1,331 million shares in 2001 261 266
Capital surplus 5,675 5,527
Retained earnings 7,606 6,421
Other comprehensive income (loss), net of tax:
Net unrealized securities gains 1,104 334
Net unrealized derivatives losses (538) (296)
Foreign currency translation adjustments (198) (112)
Minimum pension liability (49) (103)
Accumulated other comprehensive income (loss) 319 (177)
Total shareholders’ equity 13,861 12,037
Total liabilities and shareholders’ equity $ 157,253 $ 151,100
See Notes to Consolidated Financial Statements.