American Express 2007 Annual Report Download - page 111

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AMERICAN EXPRESS COMPANY
The following table presents certain selected financial information at December 31, 2007, 2006, and 2005 and for each of the
years then ended.
(Millions, except where indicated) USCS ICS GCS GNMS
Corporate
& Other(a) Consolidated
2007
Revenues, excluding interest income $11,838 $3,540 $4,697 $3,547 $ 519 $ 24,141
Interest income 4,866 1,535 50 3 962 7,416
Interest expense 2,482 744 478 (314) 436 3,826
Revenues net of interest expense 14,222 4,331 4,269 3,864 1,045 27,731
Pretax income from continuing operations 2,730 117 744 1,560 415 5,566
Income tax provision (benefit) 907 (174) 208 538 39 1,518
Income from continuing operations $ 1,823 $ 291 $ 536 $1,022 $ 376 $ 4,048
Total Equity (billions) $ 4.5 $ 2.1 $ 2.2 $ 1.2 $ 1.0 $ 11.0
2006(b)
Revenues, excluding interest income $10,897 $3,291 $4,254 $3,059 $ 660 $ 22,161
Interest income 3,447 1,260 15 4 1,007 5,733
Interest expense 1,724 586 369 (281) 342 2,740
Revenues net of interest expense 12,620 3,965 3,900 3,344 1,325 25,154
Pretax income (loss) from continuing operations 3,323 312 716 1,188 (400) 5,139
Income tax provision (benefit) 1,171 (31) 239 409 (260 ) 1,528
Income (Loss) from continuing operations $ 2,152 $ 343 $ 477 $ 779 $ (140 ) $ 3,611
Total Equity (billions) $ 4.7 $ 1.7 $ 1.9 $ 1.3 $ 0.9 $ 10.5
2005(b)
Revenues, excluding interest income $ 9,709 $3,135 $4,013 $2,679 $ 449 $ 19,985
Interest income 2,410 1,042 — 2 965 4,419
Interest expense 1,145 457 294 (211) 294 1,979
Revenues net of interest expense 10,974 3,720 3,719 2,892 1,120 22,425
Pretax income (loss) from continuing operations 2,675 298 594 882 (396) 4,053
Income tax provision (benefit) 938 (8) 165 309 (413) 991
Income from continuing operations $ 1,737 $ 306 $ 429 $ 573 $ 17 $ 3,062
Total Equity (billions) $ 4.6 $ 1.9 $ 1.7 $ 1.3 $ 1.0 $ 10.5
(a) Corporate & Other includes adjustments and eliminations for the items included in revenues net of interest expense above.
(b) Amounts for 2006 and 2005 include certain revenue and expense reclassifications, as well as changes to the Company’s reportable operating segments in 2007.
Additionally, certain reclassifications of prior year amounts have been made to conform to the current presentation related to discontinued operations as discussed
in Note 1. Except for discontinued operations, these items had no impact on the Company’s consolidated pretax income from continuing operations, income tax
provision, and income from continuing operations. None of these items had an impact on the Company’s net income.
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