American Express 2003 Annual Report Download - page 113

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(p.111_axp_ consolidated five-year summary of selected financial data)
Consolidated Five-Year Summary of Selected Financial Data
(Millions, except per share amounts and percentages) 2003 2002 2001 2000 1999
Operating Results
Revenues $25,866 $23,807 $ 22,582 $ 23,675 $ 21,278
Percent increase (decrease) 9% 5% (5)% 11% 11%
Expenses 21,619 20,080 20,986 19,767 17,840
Income before accounting change 3,000 2,671 1,311 2,810 2,475
Net income(a) 2,987 2,671 1,311 2,810 2,475
Return on average shareholders’ equity(b) 20.6% 20.2% 10.8% 26.3% 25.2%
Balance Sheet
Cash and cash equivalents $5,726 $10,288 $ 7,222 $ 8,487 $ 7,471
Accounts receivable and accrued interest, net 31,269 29,087 29,498 30,543 26,467
Investments 57,067 53,638 46,488 43,747 43,052
Loans, net 32,300 27,822 26,440 26,088 23,582
Total assets 175,001 157,253 151,100 154,423 148,517
Customers’ deposits 21,250 18,317 14,557 13,870 13,139
Travelers Cheques outstanding 6,819 6,623 6,190 6,127 6,213
Insurance and annuity reserves 31,969 28,683 24,536 24,098 25,011
Short-term debt 19,046 21,103 31,569 36,030 30,627
Long-term debt 20,654 16,308 7,788 4,711 5,995
Shareholders’ equity 15,323 13,861 12,037 11,684 10,095
Common Share Statistics
Earnings per share:(a)
Income before accounting change:
Basic $2.34 $2.02 $ 0.99 $ 2.12 $ 1.85
Diluted $2.31 $2.01 $ 0.98 $ 2.07 $ 1.81
Percent increase (decrease):
Basic 16% ‡(53)% 15% 18%
Diluted 15% ‡(53)% 14% 18%
Net income:
Basic $2.33 $2.02 $ 0.99 $ 2.12 $ 1.85
Diluted $2.30 $2.01 $ 0.98 $ 2.07 $ 1.81
Cash dividends declared per share $0.38 $0.32 $ 0.32 $ 0.32 $ 0.30
Book value per share:
Actual $11.93 $10.63 $ 9.05 $ 8.81 $ 7.52
Market price per share:
High $49.11 $44.91 $ 57.06 $ 63.00 $ 56.29
Low $30.90 $26.55 $ 24.20 $ 39.83 $ 31.63
Close $48.23 $35.35 $ 35.69 $ 54.94 $ 55.42
Average common shares outstanding for
earnings per share:
Basic 1,284 1,320 1,324 1,327 1,340
Diluted 1,298 1,330 1,336 1,360 1,369
Shares outstanding at year end 1,284 1,305 1,331 1,326 1,341
Other Statistics
Number of employees at year end:
United States 41,823 41,093 48,698 53,352 52,858
Outside United States 36,413 34,366 35,719 35,498 35,520
Total 78,236 75,459 84,417 88,850 88,378
Number of shareholders of record 47,967 51,061 52,041 53,884 56,020
(a) Results for 2003 reflect a $20 million non-cash pretax charge ($13 million after-tax) related to the December 31, 2003 adoption of FIN 46, as revised. Results for 2001 include three
significant items: (1) a charge of $1.01 billion pretax ($669 million after-tax) reflecting losses associated with high-yield securities recorded during the first half of 2001; (2) restruc-
turing charges of $631 million pretax ($411 million after-tax); and (3) the one-time adverse impact from the September 11th terrorist attacks of $98 million pretax ($65 million
after-tax).
(b) Computed on a trailing 12-month basis using total shareholders’ equity as included in the Consolidated Financial Statements prepared in accordance with GAAP. Prior period amounts
have been revised to conform to current year presentation.
‡— Denotes a variance of more than 100%.