American Express 2007 Annual Report Download - page 115

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CONSOLIDATED FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA
AMERICAN EXPRESS COMPANY
(Millions, except per share amounts, percentages, and where indicated) 2007 2006 2005 2004 2003
Operating Results(a)
Revenues net of interest expense $ 27,731 $ 25,154 $ 22,425 $ 20,412 $ 18,061
Expenses 17,824 16,989 15,614 14,438 12,437
Provisions for losses and benefits 4,341 3,026 2,758 2,229 2,309
Income from continuing operations 4,048 3,611 3,062 2,630 2,267
(Loss) Income from discontinued operations (36) 96 672 886 733
Income before cumulative effect of accounting change 4,012 3,707 3,734 3,516 3,000
Net income 4,012 3,707 3,734 3,445 2,987
Return on average equity(b) 37.3% 34.7% 25.4% 22.0% 20.6%
Balance Sheet
Cash and cash equivalents $ 11,737 $ 5,036 $ 6,140 $ 7,639 $ 3,778
Accounts receivable, net 42,005 38,665 35,321 32,159 29,210
Investments 15,864 17,954 18,332 18,196 15,347
Loans, net 53,436 43,116 33,904 27,674 25,617
Assets of discontinued operations 16,747 14,412 12,746 99,624 93,436
Total assets 149,830 128,329 114,637 194,873 177,167
Customers’ deposits 15,397 12,010 13,827 10,040 9,851
Travelers Cheques outstanding 7,197 7,215 7,175 7,287 6,819
Short-term debt 17,762 15,236 15,711 14,498 19,573
Long-term debt 55,285 42,747 30,781 32,627 20,010
Liabilities of discontinued operations 16,228 13,945 12,203 92,406 85,679
Shareholders’ equity 11,029 10,511 10,549 16,020 15,323
Common Share Statistics
Earnings per share:
Income from continuing operations:
Basic $ 3.45 $ 2.98 $ 2.48 $ 2.09 $ 1.77
Diluted $ 3.39 $ 2.92 $ 2.43 $ 2.05 $ 1.75
(Loss) Income from discontinued operations:
Basic $ (0.03) $ 0.08 $ 0.55 $ 0.70 $ 0.57
Diluted $ (0.03) $ 0.07 $ 0.54 $ 0.69 $ 0.56
Cumulative effect of accounting change, net of tax:
Basic $ — $ — $ — $ (0.05) $ (0.01)
Diluted $ — $ — $ — $ (0.06) $ (0.01)
Net income:
Basic $ 3.42 $ 3.06 $ 3.03 $ 2.74 $ 2.33
Diluted $ 3.36 $ 2.99 $ 2.97 $ 2.68 $ 2.30
Cash dividends declared per share $ 0.63 $ 0.57 $ 0.48 $ 0.44 $ 0.38
Book value per share $ 9.53 $ 8.76 $ 8.50 $ 12.83 $ 11.93
Market price per share(c):
High $ 65.89 $ 62.50 $ 59.50 $ 57.05 $ 49.11
Low $ 50.37 $ 49.73 $ 47.01 $ 47.32 $ 30.90
Close $ 52.02 $ 60.67 $ 51.46 $ 56.37 $ 48.23
Average common shares outstanding for earnings per share:
Basic 1,173 1,212 1,233 1,259 1,284
Diluted 1,196 1,238 1,258 1,285 1,298
Shares outstanding at period end 1,158 1,199 1,241 1,249 1,284
Other Statistics
Number of employees at period end (thousands):
United States 32 32 29 41 42
Outside United States 36 33 37 37 36
Total(d) 68 65 66 78 78
Number of shareholders of record 50,216 51,644 55,409 50,394 47,967
(a) In 2007, the Company entered into an agreement to sell its international banking subsidiary, AEB, to Standard Chartered subject to certain regulatory approvals.
The results, assets, and liabilities of AEB are presented as discontinued operations. Additionally, 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) Amounts include employees from discontinued operations.
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