American Express 2009 Annual Report Download - page 72

Download and view the complete annual report

Please find page 72 of the 2009 American Express annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 134

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134

CONSOLIDATED BALANCE SHEETS
AMERICAN EXPRESS COMPANY
December 31 (Millions, except share data) 2009 2008
Assets
Cash and cash equivalents
Cash and cash due from banks $ 881 $ 1,574
Interest-bearing deposits in other banks (including securities purchased under resale agreements: 2009, $212;
2008, $141) 10,597 6,554
Short-term investment securities 4,064 12,419
Total 15,542 20,547
Accounts receivable
Cardmember receivables, less reserves: 2009, $546; 2008, $810 33,197 32,178
Other receivables, less reserves: 2009, $109; 2008, $118 5,007 4,393
Loans
Cardmember loans, less reserves: 2009, $3,268; 2008, $2,570 29,504 39,641
Other, less reserves: 2009, $27; 2008, $39 506 1,018
Investment securities 24,337 12,526
Premises and equipment — at cost, less accumulated depreciation: 2009, $4,130; 2008, $3,743 2,782 2,948
Other assets 13,213 12,607
Assets of discontinued operations —216
Total assets $124,088 $126,074
Liabilities and Shareholders’ Equity
Liabilities
Customer deposits $ 26,289 $ 15,486
Travelers Cheques outstanding 5,975 6,433
Accounts payable 8,926 8,428
Short-term borrowings 2,344 8,993
Long-term debt 52,338 60,041
Other liabilities 13,810 14,592
Liabilities of discontinued operations —260
Total liabilities 109,682 114,233
Commitments and contingencies (see Note 24)
Shareholders’ Equity
Common shares, $.20 par value, authorized 3.6 billion shares; issued and outstanding 1,192 million shares in
2009 and 1,160 million shares in 2008 237 232
Additional paid-in capital 11,144 10,496
Retained earnings 3,737 2,719
Accumulated other comprehensive (loss) income
Net unrealized securities gains (losses), net of tax: 2009, $(291); 2008, $458 507 (699)
Net unrealized derivatives losses, net of tax: 2009, $15; 2008, $44 (28) (80)
Foreign currency translation adjustments, net of tax: 2009, $31; 2008, $64 (722) (368)
Net unrealized pension and other postretirement benefit costs, net of tax: 2009, $244; 2008, $216 (469) (459)
Total accumulated other comprehensive loss (712) (1,606)
Total shareholders’ equity 14,406 11,841
Total liabilities and shareholders’ equity $124,088 $126,074
See Notes to Consolidated Financial Statements.
70