American Express 2009 Annual Report Download - page 129

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AMERICAN EXPRESS COMPANY
NOTE 27
QUARTERLY FINANCIAL DATA (UNAUDITED)
(Millions, except per share amounts) 2009 2008
Quarters Ended 12/31 9/30(b) 6/30(b)(c) 3/31 12/31(c) 9/30 6/30(a) 3/31(a)
Total revenues net of interest expense $6,489 $6,016 $6,092 $5,926 $6,506 $7,164 $7,455 $7,240
Pretax income from continuing operations 961 918 418 544 268 1,078 774 1,461
Income from continuing operations 710 642 342 443 306 861 660 1,044
Income (Loss) from discontinued operations, net of tax
6 (2) (5) (6) (66) (46) (7) (53)
Net income(b) 716 640 337 437 240 815 653 991
Earnings Per Common Share — Basic:
Continuing operations $ 0.59 $ 0.54 $ 0.09 $ 0.32 $ 0.26 $ 0.74 $ 0.57 $ 0.90
Discontinued operations 0.01 — — (0.01) (0.05) (0.04) (0.01) (0.05)
Net income $ 0.60 $ 0.54 $ 0.09 $ 0.31 $ 0.21 $ 0.70 $ 0.56 $ 0.85
Earnings Per Common Share — Diluted:
Continuing operations $ 0.59 $ 0.54 $ 0.09 $ 0.32 $ 0.26 $ 0.74 $ 0.56 $ 0.89
Discontinued operations 0.01 (0.01) — (0.01) (0.05) (0.04) — (0.04)
Net income $ 0.60 $ 0.53 $ 0.09 $ 0.31 $ 0.21 $ 0.70 $ 0.56 $ 0.85
Cash dividends declared per common share $ 0.18 $ 0.18 $ 0.18 $ 0.18 $ 0.18 $ 0.18 $ 0.18 $ 0.18
Common share price:
High $42.25 $36.50 $28.45 $21.38 $35.80 $42.50 $52.63 $52.32
Low $31.69 $22.00 $13.08 $ 9.71 $16.55 $31.68 $37.61 $39.50
(a) Diluted EPS from discontinued operations was greater than basic EPS from discontinued operations due to the impact of rounded fractional
amounts.
(b) The results for the quarter ended September 30, 2009 include a $180 million benefit related to (i) the accounting for a net investment in
foreign subsidiaries and (ii) the change in the fair value of certain forward exchange contracts. The results of operations for the quarter ended
June 30, 2009 include a $59 million benefit related to the completion of certain account reconciliations. Refer to Note 19 for further
discussion of these items.
(c) The results of operations for the quarters ended June 30, 2009 and December 31, 2008 include restructuring charges in the amount of $199
million and $410 million, respectively. Refer to Note 16 for further discussion of these items.
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