American Express 2008 Annual Report Download - page 68

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consolidated balance sheets
american express company
66
December 31, (Millions, except share data) 2008 2007
Assets
Cash and cash equivalents
Cash and cash due from banks $ 1,574 $ 1,700
Interest-bearing deposits in other banks (including federal funds sold and securities purchased
under resale agreements: 2008, $141; 2007, $3,878) 6,554 5,407
Short-term investment securities 12,419 1,771
Tota l 20,547 8,878
Accounts receivable
Cardmember receivables, less reserves: 2008, $810; 2007, $1,149 32,178 38,923
Other receivables, less reserves: 2008, $118; 2007, $92 4,393 3,071
Loans
Cardmember lending, less reserves: 2008, $2,570; 2007, $1,831 39,641 52,577
Other, less reserves: 2008, $39; 2007, $45 1,018 762
Investment securities 12,526 13,214
Premises and equipment — at cost, less accumulated depreciation:
2008, $3,743; 2007, $3,453 2,948 2,692
Other assets 12,607 7,348
Assets of discontinued operations 216 22,278
Total assets $126,074 $149,743
Liabilities and Shareholders’ Equity
Liabilities
Customer deposits $ 15,486 $ 15,397
Travelers Cheques outstanding 6,433 7,197
Accounts payable 8,428 7,740
Short-term borrowings 8,993 17,761
Long-term debt 60,041 55,285
Other liabilities 14,592 13,807
Liabilities of discontinued operations 260 21,527
Total liabilities 114,233 138,714
Commitments and contingencies (see Note 16)
Shareholders’ Equity
Common shares, $.20 par value, authorized 3.6 billion shares; issued and outstanding
1,160 million shares in 2008 and 1,158 million shares in 2007 232 232
Additional paid-in capital 10,496 10,164
Retained earnings 2,719 1,075
Accumulated other comprehensive (loss) income
Net unrealized securities (losses) gains, net of tax: 2008, $458; 2007, $(6) (699) 12
Net unrealized derivatives losses, net of tax: 2008, $44, 2007, $40 (80) (71)
Foreign currency translation adjustments, net of tax: 2008, $64; 2007, $7 (368) (255)
Net unrealized pension and other postretirement benefit costs, net of tax: 2008, $216; 2007, $56 (459) (128)
Total accumulated other comprehensive loss (1,606) (442)
Total shareholders’ equity 11,841 11,029
Total liabilities and shareholders’ equity $126,074 $149,743
See Notes to Consolidated Financial Statements.