American Express 2002 Annual Report Download - page 83

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I81 AXP INOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table presents certain information regarding these operating segments at December 31, 2002, 2001 and 2000 and
for each of the years then ended:
American
Travel Express American Adjustments
Related Financial Express Corporate and
(Millions) Services Advisors Bank and Other Eliminations Consolidated
20 02
Revenues (GAAP basis) $ 17,721 $ 5,617 $ 745 $ 99 $ (375) $ 23,807
Net revenues (managed basis) 18,669 3,663 745 99 (375) 22,801
Interest and dividends, net 598 2,058 360 99 (124) 2,991
Cardmember lending net finance
charge revenue:
GAAP basis 1,485 — — — — 1,485
Managed basis 3,654 — — — — 3,654
Interest expense:
GAAP basis 1,001 32 — 175 (126) 1,082
Managed basis 987 32 — 175 (126) 1,068
Pretax income (loss) 3,080 865 121 (339) — 3,727
Income tax provision (benefit) 945 233 41 (163) — 1,056
Net income (loss) 2,135 632 80 (176) — 2,671
Assets $ 72,205 $ 73,724 $ 13,234 $ 17,014 $ (18,924) $ 157,253
20 01
Revenues (GAAP basis) $ 17,359 $ 4,791 $ 649 $ 123 $ (340) $ 22,582
Net revenues (managed basis) 18,102 2,825 649 123 (340) 21,359
Interest and dividends, net 710 1,162 302 123 (160) 2,137
Cardmember lending net finance
charge revenue:
GAAP basis 1,424 — — — — 1,424
Managed basis 3,138 — — — — 3,138
Interest expense:
GAAP basis 1,454 26 — 182 (161) 1,501
Managed basis 1,487 26 — 182 (161) 1,534
Pretax income (loss) 1,979 (24) (14) (345) — 1,596
Income tax provision (benefit) 520 (76) (1) (158) — 285
Net income (loss)(a) 1,459 52 (13) (187) — 1,311
Assets $ 69,384 $ 71,471 $ 11,878 $ 15,726 $ (17,359) $ 151,100
2000
Revenues (GAAP basis) $ 17,120 $ 6,130 $ 591 $ 167 $ (333) $ 23,675
Net revenues (managed basis) 17,441 4,219 591 167 (333) 22,085
Interest and dividends, net 803 2,292 251 165 (221) 3,290
Cardmember lending net finance
charge revenue:
GAAP basis 1,255 — — — — 1,255
Managed basis 2,383 — — — — 2,383
Interest expense:
GAAP basis 1,366 22 — 180 (214) 1,354
Managed basis 1,571 22 — 180 (214) 1,559
Pretax income (loss) 2,713 1,483 33 (321) — 3,908
Income tax provision (benefit) 784 451 4 (141) — 1,098
Net income (loss) 1,929 1,032 29 (180) — 2,810
Assets $ 71,419 $ 73,560 $ 11,413 $ 16,487 $ (18,456) $ 154,423
(a) 2001 results include three significant items: (1) a charge at AEFA of $1.01 billion ($669 million after-tax) reflecting losses associated with high-yield securities recorded during the first half of
2001; (2) consolidated restructuring charges of $631 million ($411 million after-tax); and (3) the consolidated one-time adverse impact from the September 11th terrorist attacks of $98 million
($65 million after-tax).