American Express 2004 Annual Report Download - page 50

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SELECTED STATISTICAL INFORMATION
(Billions, except percentages and where indicated)
Years Ended December 31, 2004 2003 2002
Total cards-in-force (millions)*
United States 39.9 36.4 34.8
Outside the United States 25.5 24.1 22.2
Total 65.4 60.5 57.0
Basic cards-in-force (millions)*
United States 30.3** 27.7 26.9
Outside the United States 21.0 19.9 18.3
Total 51.3** 47.6 45.2
Card billed business*
United States $ 304.8 $ 262.1 $ 234.1
Outside the United States 111.3 90.1 77.3
Total $ 416.1 $ 352.2 $ 311.4
Average discount rate 2.56% 2.59% 2.64%
Average basic cardmember
spending (dollars)* $ 9,460 $ 8,367 $ 7,645
Average fee per card —
managed (dollars)* $34 $35 $34
Travel sales $ 19.9 $ 16.0 $ 15.5
Travel commissions and
fees/sales 9.0% 9.4% 9.1%
Travelers Cheque and
prepaid products:
Sales $ 19.9 $ 19.2 $ 22.1
Average outstanding $ 7.0 $ 6.6 $ 6.5
Average investments $ 7.5 $ 7.1 $ 6.9
Investment yield 5.4% 5.4% 5.6%
Tax equivalent yield 8.4% 8.4% 8.7%
* Card billed business and cards-in-force include activities related to proprietary
cards and cards issued under network partnership agreements. Average basic
cardmember spending and average fee per card are computed from proprietary
card activities only.
** Revised from previous disclosure.
See Glossary of Selected Terminology section for definitions of key terms.
Years Ended December 31, 2004 2003 2002
Worldwide cardmember receivables:
Total receivables $ 31.1 $ 28.4 $ 26.3
90 days past due as a %
of total 1.8% 1.9% 2.2%
Loss reserves (millions) $ 806 $ 916 $ 930
% of receivables 2.6% 3.2% 3.5%
% of 90 days past due 146% 171% 162%
Net loss ratio as a
% of charge volume 0.26% 0.28% 0.38%
Worldwide cardmember lending
— owned basis:
Total loans $ 26.9 $ 25.8 $ 22.6
Past due loans as a %
of total:
30–89 days 1.5% 1.6% 1.9%
90+ days 0.9% 1.1% 1.3%
Loss reserves (millions):
Beginning balance $ 998 $ 1,030 $ 831
Provision 1,016 1,121 1,271
Net write-offs (1,040) (1,148) (1,167)
Other (2) (5) 95
Ending balance $ 972 $ 998 $ 1,030
% of loans 3.6% 3.9% 4.6%
% of past due 151% 145% 144%
Average loans $ 25.9 $ 22.6 $ 19.9
Net write-off rate 4.0% 5.1% 5.9%
Net interest yield 9.3% 9.8% 9.2%
Worldwide cardmember lending
— managed basis:
Total loans $ 47.2 $ 45.3 $ 39.8
Past due loans as a %
of total:
30–89 days 1.5% 1.6% 1.9%
90+ days 0.9% 1.1% 1.2%
Loss reserves (millions):
Beginning balance $ 1,541 $ 1,529 $ 1,240
Provision 1,931 2,188 2,370
Net write-offs (1,957) (2,171) (2,176)
Other (40) (5) 95
Ending Balance $ 1,475 $ 1,541 $ 1,529
% of loans 3.1% 3.4% 3.8%
% of past due 129% 127% 124%
Average loans $ 45.4 $ 41.6 $ 36.7
Net write-off rate 4.3% 5.2% 5.9%
Net interest yield 8.6% 9.1% 10.0%
AXP
AR.04
48
Financial Review