American Express 2006 Annual Report Download - page 113

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[ 111 ]
consolidated fi ve-year summary of selected fi nancial data
american express company
CONSOLIDATED FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA
(Millions, except per share amounts, percentages, and where indicated) 2006 2005 2004 2003 2002
Operating Results(a)
Net revenues $27,136 $24,068 $21,897 $ 19,549 $ 18,079
Expenses 21,808 19,820 18,066 16,134 15,058
Income from continuing operations 3,729 3,221 2,686 2,335 2,142
(Loss) Income from discontinued operations (22) 513 830 665 529
Income before cumulative effect of accounting change 3,707 3,734 3,516 3,000 2,671
Net income 3,707 3,734 3,445 2,987 2,671
Return on average equity(b) 34.7% 25.4% 22.0% 20.6% 20.2%
Balance Sheet
Cash and cash equivalents $ 7,956 $ 7,126 $ 7,808 $ 3,967 $ 3,939
Accounts receivable and accrued interest, net 38,851 35,497 32,398 29,394 27,677
Investments 20,990 21,334 21,675 19,305 20,272
Loans, net 50,248 40,801 34,256 31,706 27,212
Assets of discontinued operations ——87,14180,20769,242
Tota l assets 127,853 113,960 194,216 175,861 158,299
Customers’ deposits 24,656 24,579 20,107 20,252 17,252
Travelers Cheques outstanding 7,215 7,175 7,287 6,819 6,623
Short-term debt 15,162 15,633 14,316 18,983 21,172
Long-term debt 42,747 30,781 32,676 20,209 16,188
Liabilities of discontinued operations —— 80,675 73,193 63,112
Shareholders’ equity 10,511 10,549 16,020 15,323 13,861
Common Share Statistics
Earnings per share:
Income from continuing operations:
Basic $3.08$ 2.61$ 2.13$ 1.82$ 1.62
Diluted $3.01$ 2.56$ 2.09$ 1.80$ 1.61
(Loss) Income from discontinued operations:
Basic $(0.02)$ 0.42$ 0.66$ 0.52$ 0.40
Diluted $(0.02)$ 0.41$ 0.65$ 0.51$ 0.40
Cumulative effect of accounting change, net of tax:
Basic $—$—$(0.05)$ (0.01)$—
Diluted $—$—$(0.06)$ (0.01)$—
Net income:
Basic $3.06$ 3.03$ 2.74$ 2.33$ 2.02
Diluted $2.99$ 2.97$ 2.68$ 2.30$ 2.01
Cash dividends declared per share $0.57$ 0.48$ 0.44$ 0.38$ 0.32
Book value per share $8.76$ 8.50 $ 12.83 $ 11.93 $ 10.63
Market price per share(c):
High $62.50$ 59.50 $ 57.05 $ 49.11 $ 44.91
Low $49.73$ 47.01 $ 47.32 $ 30.90 $ 26.55
Close $60.67$51.46$56.37$48.23$ 35.35
Average common shares outstanding for earnings per share:
Basic 1,212 1,233 1,259 1,284 1,320
Diluted 1,238 1,258 1,285 1,298 1,330
Shares outstanding at period end 1,199 1,241 1,249 1,284 1,305
Other Statistics
Number of employees at period end (thousands):
United States 32 29 41 42 41
Outside United States 33 37 37 36 35
Tota l (d) 65 66 78 78 76
Number of shareholders of record 51,644 55,409 50,394 47,967 51,061
(a) The spin-off of Ameriprise and certain dispositions were completed in 2006 and 2005, and the results of these operations are presented as
discontinued operations. Note 2 provides additional information on discontinued operations.
(b) Computed on a trailing 12-month basis using total shareholders’ equity as included in the Consolidated Financial Statements prepared in
accordance with GAAP.
(c) The market price per share beginning with the fourth quarter of 2005 reflects the spin-off of Ameriprise as of September 30, 2005. The
opening share price on the first trading day after the spin-off was $50.75.
(d) Years prior to 2005 include employees from discontinued operations.