American Express 2002 Annual Report Download - page 89

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Consolidated Five-year Summary of Selected Financial Data
(Millions, except per share amounts and percentages) 2002 2001 2000 1999 1998
Operating Results
Revenues $ 23,807 $ 22,582 $ 23,675 $ 21,278 $ 19,132
Percent increase (decrease) 5% (5)% 11% 11% 8%
Expenses 20,080 20,986 19,767 17,840 16,207
Net income(a) 2,671 1,311 2,810 2,475 2,141
Return on average shareholders’ equity(b) 20.6% 10.9% 25.3% 25.3% 24.0%
Balance Sheet
Cash and cash equivalents $ 10,288 $ 7,222 $ 8,487 $ 7,471 $ 4,092
Accounts receivable and accrued interest, net 29,087 29,498 30,543 26,467 22,224
Investments 53,638 46,488 43,747 43,052 41,299
Loans, net 27,822 26,440 26,088 23,582 21,054
Total assets 157,253 151,100 154,423 148,517 126,933
Customers’ deposits 18,317 14,557 13,870 13,139 10,398
Travelers Cheques outstanding 6,623 6,190 6,127 6,213 5,823
Insurance and annuity reserves 28,683 24,536 24,098 25,011 25,433
Short-term debt 21,103 31,569 36,030 30,627 22,605
Long-term debt 16,308 7,788 4,711 5,995 7,019
Shareholders’ equity 13,861 12,037 11,684 10,095 9,698
Common Share Statistics
Earnings per share:(a)
Basic $ 2.02 $ 0.99 $ 2.12 $ 1.85 $ 1.57
Diluted $ 2.01 $ 0.98 $ 2.07 $ 1.81 $ 1.54
Percent (decrease) increase:
Basic ‡(53)% 15% 18% 10%
Diluted ‡(53)% 14% 18% 12%
Cash dividends declared per share $ 0.32 $ 0.32 $ 0.32 $ 0.30 $ 0.30
Book value per share:
Actual $ 10.63 $ 9.05 $ 8.81 $ 7.52 $ 7.18
Excluding the effect on shareholders’ equity
of SFAS No. 115 and SFAS No. 133 $ 10.19 $ 9.02 $ 8.92 $ 7.74 $ 6.75
Market price per share:
High $ 44.91 $ 57.06 $ 63.00 $ 56.29 $ 39.54
Low $ 26.55 $ 24.20 $ 39.83 $ 31.63 $ 22.33
Close $ 35.35 $ 35.69 $ 54.94 $ 55.42 $ 34.17
Average common shares outstanding for earnings
per share:
Basic 1,320 1,324 1,327 1,340 1,363
Diluted 1,330 1,336 1,360 1,369 1,388
Shares outstanding at year end 1,305 1,331 1,326 1,341 1,351
Other Statistics
Number of employees at year end:
United States 41,093 48,698 53,352 52,858 50,266
Outside United States 34,366 35,719 35,498 35,520 34,466
Total 75,459 84,417 88,850 88,378 84,732
Number of shareholders of record 51,061 52,041 53,884 56,020 51,597
(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).
Results for 1998 include the following items: $138 million credit loss provision at American Express Bank relating to its Asia/Pacific portfolio and income of $78 million representing gains on the
sale of First Data Corporation shares.
(b) Computed on a trailing 12-month basis and excluding the effect on Shareholders’ Equity of unrealized gains or losses related to SFAS No. 115 and SFAS No. 133.
‡—Denotes a variance of more than 100%.
I87 AXP ICONSOLIDATED FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA